Phoenix Remembrance Final Expense

Company Description

Founded in 1851, The Phoenix Companies, Inc. helps people to meet their personal, financial, and business planning goals through their life insurance, annuities and alternative retirement solutions. They are financially strong and stable while maintaining a commitment to excellence in everything they do.

Product Description

Life is uncertain. But, while it’s impossible to know what the future holds, you can take steps to help ensure your family’s financial security and traditions are maintained. With a thoughtful plan in place, you can be confident in the legacy you will leave behind.

With a simple, quick application process, Phoenix Remembrance Life is a whole life final expense insurance with living benefits uniquely designed to provide:

  • Coverage for funeral or other expenses.
  • Financial flexibility in case of a serious illness or accidental death.

Phoenix Remembrance Final Expense Highlights:

  • Base Policy Death Benefit is payable in a lump sum.
  • Three riders included at no additional cost provide special benefits in case of critical illness, accidental death1 or terminal illness.
  • Issue Ages are age last birthday.
  • Coverage Amounts:
    30-59 $10,000 - $100,000.
    60-69 $10,000 - $75,000.
    70-80 $10,000 - $50,000.
  • Non-Tobacco (Preferred) or Tobacco (Standard) risk classes.
  • Minimum annual premium: $360 (including all riders).
  • Premium payment options: Monthly bank draft, Quarterly, Semi-annual, or Annual.

Additional Riders:

Accidental Death Benefit Rider - Included at no charge in base policy. Pays an additional lump sum death benefit upon Insured’s death equal to 100% of the policy Face Amount if such death occurs by covered accident.

Accelerated Death Benefits:

Two of the included riders give your client the option to advance up to 95% of the death benefit on the exercise date in the event of a serious illness.

  • Rider exercise is optional.
  • No waiting period applies.
  • Minimum acceleration amount is $1,000.
  • The policy death benefit is reduced by the benefit amount accelerated, however, the actual amount paid is discounted based on the condition and life expectancy of your client.
  • Future premiums are based on the death benefit after rider exercise and must continue to be paid to keep remaining death benefit in force.
  • An administrative charge of $200 per election applies.
  • Diagnosis must be certified in writing by a licensed physician A portion of the death benefit may be taxable and your client should consult a tax advisor before deciding to exercise their rider.

Terminal Illness Rider - Advances up to 95% of the lump sum death benefit if your client is diagnosed as terminally ill with a life expectancy of 12 months or less.

Critical Illness Rider - Advances up to 95% of the lump sum death benefit if your client is diagnosed with a specified critical illness: Heart attack, stroke, cancer, kidney failure, major organ transplant, or ALS Multiple benefit elections available; must wait 180 days between elections.

Learn more about selling Final Expense Plans with Phoenix. PSM offers an array of the top Life Insurance contracts along with resources on Final Expense Lead Generation and the most effective way to market Senior Life Insurance products.

Phoenix Remembrance Life (ICC12FEWL) is whole life insurance issued by PHL Variable Insurance Company (PHLVIC) (Hartford, CT). PHLVIC is not authorized to conduct business in Maine and New York. In Maine and New York, Phoenix Remembrance Life is issued by Phoenix Life Insurance Company (PLIC) (East Greenbush, NY). These insurers are separate entities and each is responsible only for its own financial condition and contractual obligations. Members of The Phoenix Companies, Inc., The Phoenix Companies, Inc. and Precision Senior Marketing are not affiliates. Payment guarantees are based on the claims-paying ability of the issuing company. BPD38679 3/13