Product Update - CA Approves Phoenix Fixed and Indexed Annuities

 

Effective July 11, 2011 - California Approves Phoenix Fixed and Indexed Annuities and GMWB Riders See below for a list of the approved products and features.   PHOENIX PERSONAL INCOME ANNUITY Single Premium Fixed Indexed Annuity with Optional Guaranteed Minimum Withdrawal Benefit §         Highly competitive lifetime income via choice of two GMWB riders: Income Strategy: TODAY • A 30% bonus to the benefit base1 available in year one • A 37.5% bonus to the benefit base1 after year one • A 45% bonus to the benefit base1 after year two   Income Strategy: TOMORROW • 14% simple roll-up to benefit base1 for first 10 contract years §       Principal protection from market losses by a 0% floor  § Guaranteed death benefit equal to greater of contract value or Total Guaranteed Value Please feel free to use the attached fillable flyer to assist your marketing efforts in all approved states.   PHOENIX INDEX SELECT GOLD BONUS Single Premium Fixed Indexed Annuity with Optional Guaranteed Minimum Withdrawal Benefit Maximize growth potential ·  8% up-front premium bonus2 Protect principal ·  0% floor – no investment risk ·  Guaranteed death benefit (surrender charge waived)   Choose from 2 lifetime income options3   Income 25 ·  A cumulative 25% bonus to initial benefit base at the end of first year1   INCOME PLUS ·  8% compound roll-ups to benefit base for first 10 contract years rewards delayed withdrawals1 PHOENIX SELECT PLUS (Also now available for sale in IL, NJ, PA) Single Premium Modified Guaranteed Fixed Annuity Fixed annuity with competitive rates Choice of 4, 5, 7 or 10 year duration Principal protection Guaranteed death benefit (surrender charges waived)   To learn more, call 1-877-257-8246 today!   1. The Benefit Base is not available for withdrawal; it is used only to calculate the fees and withdrawal amount guaranteed by the riders. The withdrawal rate varies by age and rider elected. 2. Crediting rates may be less than a comparable non-bonus product. 3. Riders are optional for an annual fee of a percentage of the benefit base deducted from the contract value.  4.  If withdrawals are taken in year one, the bonus to the initial benefit base is limited to 12.5%.     For producer use only. Not for use with the public as sales literature. Products are subject to state approval and may vary by state. Lifetime guarantees are based on the claims-paying ability of PHL Variable Insurance Company. Annuities are long-term investment vehicles particularly suitable for retirement assets. Early withdrawals may be subject to surrender charges. Withdrawals are subject to ordinary income tax and if taken prior to age 59-1/2, a 10% IRS penalty may apply. Non-Security Status Disclosure: The Phoenix Personal Income Annuity, Phoenix Reflections Bonus and Phoenix Index Select Gold Contracts have not been approved or disapproved by the Securities and Exchange Commission. The Contracts are not registered under the Securities Act of 1933 and are being offered and sold in reliance on an exemption therein. Phoenix Personal Income Annuity (09EIA, ICC09EIAN, 10FIA and 101SN), Phoenix Reflections Gold Bonus (ICC09EIAN, ICC09EIAX, 10FIA), Phoenix Index Select Gold Bonus (10FIA, 101SB), Phoenix Select Plus (D607) are issued by PHL Variable Insurance Company (PHLVIC) (Hartford, CT). PHLVIC is not authorized to conduct business in New York and Maine.   BPD37927   6/11

Annuity Rates are Changing. View New Rates!

 

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Deferred Annuity Rate Change Click to read or download the new rate sheet. HorizonSecure 5 will be temporarily unavailable for new sales. New "cash with app" cases must be received in the home office on July 5, at latest. We appreciate your business. Annuity Sales Desk 888.438.6933, option 3 For Producer Use Only. Not for Dissemination to the Public.

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IMPORTANT - New States Adopt NAIC Annuity Suitability

Attachment: NAIC Training Requirements June 2011.pdf
Attachment: NAIC grid.pdf

 

 

The following states will soon adopt the 2010 NAIC Model Regulation on Suitability in Annuity Transactions. Washington DC - June 24 New York - June 30 Ohio - July 1 Oregon - July 1 West Virginia - July 1 Oklahoma - July 14 According to this regulation, producers doing business in states who have adopted this regulation must comply with new state and product training requirements prior to soliciting annuity business.   Phoenix has instituted new procedures to comply with this regulation. Please see the attached Operations Update for details on training guidelines and transition rules. Also, please refer to the attached NAIC State Adoption Grid for state specific information and deadlines.   Should questions arise, please contact Phoenix Customer Care at 1-800-417-4769.             BPD37858  6/11

RSL - Annuity News (Form Changes, New Fax Line, etc.)

 

June 13, 2011           Form Changes Effective July 1, 2011, producers in the states of Kentucky and Texas must provide traditional fixed annuity applicants with a Buyer's Guide to Fixed Annuities (RS-1606-3.)  A Buyer's Guide is already in use for fixed index products in these states.  For a PDF of the Buyer's Guide to Fixed Annuities (RS-1606-3), please click here (link will remain active for 30 days.) New Fax Line for In-Force Administration Effective immediately, all disbursement requests (withdrawals, MRD elections, etc.,), client address changes, and any other fax correspondence for in-force policies should be faxed to:  267-256-4713. Please update your contact information accordingly. Reminder – Address for New Business Submissions Last year Reliance Standard Life discontinued use of a Wachovia Bank "lockbox" address, and began processing all premiums internally.  Please be sure that all business is submitted to the address below, as any applications received by Wachovia will be returned to the sender.  It is critical to send your New Business applications to the correct address to avoid processing delays, loss of interest for the client, and loss of the applied-for rate during rate changes.   Attn: Annuity New Business Reliance Standard Life Insurance Company 2001 Market Street, Suite 1500 Philadelphia, PA 19103-9802   If you have any questions regarding this bulletin, please contact the Annuity Marketing Department at (800) 351-7500 ext 3696, or via email at: annuity.marketing@rsli.com.             2001 Market Street, Suite 1500 Philadelphia, PA 19103 annuity.marketing@rsli.com www.reliancestandard.com

© Reliance Standard Life Insurance Co., 2011

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New Retirement Income Solution - Phoenix Personal Income Annuity

 

 

Social Security benefits are shrinking* and are no longer a reliable retirement income source. Your clients may need to review their retirement income sources and consider alternative solutions to supplement this reduced benefit.    Phoenix has introduced a new solution to help clients protect their retirement savings. PHOENIX PERSONAL INCOME ANNUITY Offering potentially the best income guarantees available today! The Challenge   Pre-retirees expect Social Security to be a major source of income in retirement. The reality, however, is that Social Security is expected to replace less than 1/3 of pre-retirement income.   The Solution   Phoenix Personal Income Annuity features highly competitive lifetime income via a choice of two Guaranteed Minimum Withdrawal Benefit Riders.  - Income Strategy: Today - Income Strategy: Tomorrow     For more details on this exciting new product, please contact your IMO or the Phoenix Sales Desk at 888-794-4447.           Producer Use Only. Not for use with the public as sales literature.   ¹The benefit base is used only to calculate the annual rider fee and the amount of withdrawals guaranteed by the rider (benefit base multiplied by the selected rider's age-dependent withdrawal factor). It is not a guarantee of contract value or an amount available to withdraw. A rider fee applies and will be deducted from contract value.   Product features, riders, options and availability may vary by state. Guarantees are based on the claims-paying ability of PHL Variable Insurance Company. Phoenix Personal Income Annuity (10FIA, 10ISN) is issued by PHL Variable Insurance Company (PHLVIC) (Hartford, CT). PHLVIC is not authorized to conduct business in Maine and New York. Member of The Phoenix Companies, Inc. ©2011 The Phoenix Companies, Inc.                                                                                                                    6/11         BPD37903         INCOME STRATEGY: TODAY • A 30% bonus to the benefit base¹ available in year one • A cumulative 37.5% bonus to the benefit base¹ after year one • A cumulative 45% bonus to the benefit base¹ after year two   INCOME STRATEGY: TOMORROW • 14% simple roll-up to benefit base¹ for first 10 contract years