Phoenix LifePlan Program Introduced.Business Editors HARTFORD, Conn.--(BUSINESS WIRE)--Aug. 29, 2001 The Phoenix Companies Inc. today introduced a new initiative, a comprehensive "Phoenix LifePlan Program", enabling the high net worth to restructure their individual or survivorship survivorship n. the right to receive full title or ownership due to having survived another person. Survivorship is particularly applied to persons owning real property or other assets, such as bank accounts or stocks, in "joint tenancy. life insurance products 5, 10 and 15 years after the policy has been issued. Offered through the Phoenix Life Insurance Company, Phoenix LifePlan includes flexible product options and wealth management strategies that address the unique and changing needs of high-net-worth clients, providing estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the beyond the payment of estate taxes. "High-net-worth consumers typically engage in estate planning in their late 40s and early 50s," said Walter Zultowski, senior vice president of Marketing and Market Research for Phoenix. "Phoenix LifePlan, 5, 10 or 15 years out, gives clients the opportunity to re-evaluate estates to address issues concerning retirement or early retirement and distribution of accumulated assets." "These are logical points in time for people to assess estate plans. It is the perfect plan to respond to life's uncertainties, like this year's estate tax modifications," Zultowski added. The unique Phoenix LifePlan Program comprises two features: Phoenix LifePlan Options and Phoenix LifePlan Strategies. Phoenix Life Plan Options will automatically be included with all newly issued individual and survivorship UL and VUL VUL Variable Universal Life VUL Vulnerability (unit) VUL Vulgar policies, subject to a minimum face amount and state approval. At specified policy anniversaries, policyholders will have an opportunity to: increase their coverage without a medical exam; reduce their coverage without a surrender charge Surrender Charge A fee levied on a life insurance policyholder upon cancellation of his or her life insurance policy. The fee is used to cover the costs of keeping the insurance policy on the insurance provider's books. ; or exchange their policy for an annuity without incurring a surrender charge. Survivorship policyowners will also have the opportunity to convert some of the death benefit into single life coverage without a medical exam or incurring a surrender charge. To complement the Phoenix LifePlan Options, Phoenix has also developed a series of Phoenix LifePlan Strategies to address specific accumulation, preservation and transfer needs of the high-net-worth client. These strategies are designed to meet most of the personal needs and concerns of the high net worth over their lifetime. Among these strategies are ways to address family legacies, supplemental retirement plans, spousal spou·sal adj. 1. Of or relating to marriage; nuptial. 2. Of or relating to a spouse. n. Marriage; nuptials. Often used in the plural. lifetime support, business succession, retirement distribution, education funding for children and grandchildren GRANDCHILDREN, domestic relations. The children of one's children. Sometimes these may claim bequests given in a will to children, though in general they can make no such claim. 6 Co. 16. , or the unique circumstances of special needs individuals. The Phoenix LifePlan Strategies also include ways to provide for charitable funding, or the creation of trusts for a variety of preservation and transfer purposes. The Phoenix LifePlan Strategies will be released to producers over the next several months. The Phoenix Companies, Inc. (NYSE NYSE See: New York Stock Exchange :PNX) is a leading provider of wealth management products and services to individuals and institutions. Through a variety of advisors and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firms, Phoenix helps the affluent and high net worth accumulate, preserve and transfer their wealth with an innovative portfolio of life insurance, annuity and investment management products and services. With a history dating to 1851, The Phoenix Companies, Inc. has two principal operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , Phoenix Life Insurance Company and Phoenix Investment Partners, Ltd., and offers trust services through another subsidiary, Phoenix Charter Oak Trust Company. Phoenix has corporate offices in Hartford, Conn. For more information on Phoenix, visit www.phoenixwm.com. Operational details concerning the Phoenix LifePlan Program are subject to rider's terms and eligibility requirements set forth in the company's guidelines established for this program. Insurance issued by Phoenix Life Insurance Company (East Greenbush East Greenbush is the name the following places in the United States of America:
PLAC Product Liability Advisory Council, Inc. PLAC Pattern Languages: Addressing Challenges ) (Hartford, CT). PHLVIC is not authorized to conduct business in NY, ME and PR. PLAC is not authorized to conduct business in AL, CA, GA, KY, MA, ME, MN, NH, NJ, NY and WY. The insurers referenced above are separate entities and each is responsible only for its own financial condition and contractual obligations. |
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