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The Phoenix unveils new indexed annuities series

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The Phoenix Cos. introduced a new series of indexed annuities it says brings flexibility and diversification to the marketplace.

The Connecticut-based company unveiled Phoenix Reflections Bonus 10, Phoenix Reflections 10 and Phoenix Reflections 7, all single-premium fixed indexed annuities featuring three optional guaranteed minimum withdrawal benefit riders, guaranteed principal protection, and a 10- or seven-year surrender charge schedule (depending on the product version), the company said.

Phoenix Reflections Bonus 10 also provides an upfront 5% premium bonus.

The insurer said the new series is particularly suited for retirement planning as it provides consumers with the potential for increased earnings while protecting against downside risk, something that may not be available with other fixed income investments.

“This is another flexible offering to complement the indexed annuity product series we launched in the fall of 2009,” said Tom Buckingham, senior vice president of product development, life and annuity, in a statement. “We continue to see increased demand from both distributors and consumers for products that take advantage of the market’s earning potential, while minimizing the investor’s downside risk.”

Phoenix Reflections offers customers a choice of five accounts: three indexed accounts with earnings based on a point-to-point crediting method, one indexed account with earnings based on a performance trigger crediting method, and a fixed account that credits interest daily at a specified rate guaranteed for one year.


The Phoenix unveils new indexed annuities series via IFAwebnews.com .


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