The Phoenix Has Risen

Phoenix Annuities

In an ongoing quest to deliver products that are tailored for the “senior” market, our ongoing quest at New Horizons Insurance Marketing is to find those “niche” products that fit hand in glove with the clientele of most of our Medicare Supplement agents.

One of those products is a Fixed Index Annuity from Phoenix. Although Phoenix has four different types of annuity products, in this article I want to concentrate primarily on the Personal Income Annuity (PIA). The PIA aligns itself well with the needs of most clients that you as Medicare Supplement agents are seeing. As I see it, the following points are the strengths of this annuity for those in the senior age market:

  • Income Today Strategy: If lifetime income begins in year 1 there is a 30% bonus.
    • If lifetime income begins in year 2, there is a 37.5% bonus.
    • If lifetime income begins in year 3, there is a 45% bonus.
  • Issue age is 0-85.
  • Systematic withdrawals may be taken prior to beginning Guaranteed Lifetime Withdrawal Benefit.  A web site withdrawal calculator provides an easy illustration for your client.

How often do you come across clients that need immediate income to tide them over until their retirement or social security begins. With the Income Today Strategy, the client gets the benefit of an accelerated retirement payment with payouts beginning in the first three years after the purchase of the annuity. That income will continue for the rest of the client’s life.

Age 80 is often the impenetrable barrier for writing most annuity products. The Personal Income Annuity is available to age 85 and for those younger than 80, rollups do not stop at age 80. Why write a SPIA when you can write a Personal Income Annuity from Phoenix?

At New Horizons Insurance Marketing, we are pleased to add Phoenix to our annuity portfolio.


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