Phoenix Simplicity Index LifeSM

Phoenix Simplicity Index Life a simplified issue, flexible premium universal life policy that offers death benefit protection and the opportunity to allocate policy value in any combination of three different accounts: a fixed account that earns interest at a declared rate, an indexed account subject to a performance cap, or an indexed account tied to a participation rate. Each of the indexed accounts earns an annual index credit based on the positive performance of the S&P 500 Index1.

Though policy value can vary based on the index results, policy funds are never directly invested in market stocks, bonds or equities, and this product is not registered with the SEC. Regardless of index performance, the product guarantees a 0% crediting floor.

Phoenix Simplicity Index Life can be useful for death benefit protection and cash value accumulation for long-term goals, and the simplified issue feature makes applying easy, with no required medical tests or complicated paperwork2. Phoenix Simplicity Index Life may be attractive to more risk-averse clients who are interested in the potential for higher crediting rates than current assumption products, but also want protection against cash value loss due to market downturns.

Training & Reference Guide
Product Features
Accounts
Special Options and Features
Marketing Emphasis
Product Features:
  • Issue Ages (all age last birthday)/ Minimum - Maximum face amounts:
    18-50 $50,000 - $400,000
    51-60 $50,000 - $300,000
    61-70 $50,000 - $200,000
  • Minimum unscheduled payments: $25
  • Two Death Benefit Options:
    • Option A: Level - equal to the face amount
    • Option B: Increasing - equal to the face policy policy value
  • Surrender charges: Decreasing over 10-year period; vary by sex, issue age, risk class
  • Competitive fixed loan rates3
  • Coverage extends beyond age 121
Accounts
  • One fixed account with current rates declared periodically; guaranteed minimum 1%
  • Two indexed accounts, both tied to S&P 500 Index:
    • Indexed Account A: Annual point to point with cap
    • Indexed Account B: Annual point to point with participation rate

See the Training & Reference Guide (pdf, 276k) for details.

Special Options and Features
  • Monthly Transfer Strategy allows funds to automatically transfer to indexed accounts on a monthly basis
  • Persistency Bonus provides 0.5% annual bonus after year 10 for qualifying policies4
  • Premium allocation may be requested at any time to take effect on the next sweep date
Marketing Emphasis

Product appropriate for clients who

  • Have a need for a death benefit and want opportunity to grow cash value with protection against market downturns
  • Need life insurance to protect their families, but also want the potential to supplement retirement income
  • Want to establish a death benefit and use their policy's cash value to supplement future education costs

Guarantees are based on the claims-paying ability of the issuing company.

Product features may vary by state. Please consult with a financial representative regarding features and availability in your state.


1  "Standard & Poor's®", "S&P®", "S&P 500®", "Standard & Poor's 500" and "500" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Phoenix Life Insurance Company and its affiliates. This policy is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of purchasing this policy.

2 Issuance of policy depends upon the answers in the application and the truthfulness thereof.

3 Gains in excess of basis are taxable in the event of a surrender, lapse or policy maturity. If the policy is classified as a Modified Endowment Contract (MEC), policy loans, withdrawals, or other distributions of income (gains) will be taxed as ordinary income and distributed first, followed by basis in the contract. Distribution of income (gains) prior to age 59 1/2 may be subject to a 10% tax penalty, in addition to ordinary income tax. Surrender charges may also apply.

4 The persistency bonus is not guaranteed and is not available in certain states.

Policy loans and withdrawals will reduce cash value and are subtracted from the death benefit upon payment. Loans, withdrawals or surrenders from an Indexed Account before the segment's maturity will result in a full or partial loss of index credits that would otherwise be credited on the segment's maturity date.


Phoenix Simplicity Index Life (Policy Form 08IUL) issued by PHL Variable Insurance Company (PHLVIC) (Hartford, CT). PHLVIC is not authorized to conduct business in NY and ME. In NY and ME, Phoenix Simplicity Index Life (Policy Form 08IUL) is issued by Phoenix Life Insurance Company (East Greenbush, NY). The insurers referenced above are separate entities and each is responsible only for its own financial condition and contractual obligations.


Phoenix Simplicity Index LifeSM
More Information
Sample Policy
Life Field Underwriting Guide
Declared Rates