The Phoenix Companies helps its customers find straightforward solutions to often highly complex personal financial and business planning needs through life insurance and annuities. With a history dating to 1851, Phoenix is publicly traded on the New York Stock Exchange under the symbol PNX. The company's products are available through a wide variety of third-party financial professionals and intermediaries.

Phoenix Product Reviews
Products Offered

General Information
TypeInsurance Company
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AddressOne American Row
Hartford, CT 06102-5056

Information & Articles about Phoenix

The financial crisis has had an enormous impact on the financial plans of millions of people around the world.  The savings of millions of retirees and near retirees have taken a huge hit at the worst possible time.

This message has become fairly ubiquitous in the financial media. 

However, the message that has not been as clear involves longevity risk.  The reality is that average lifespans are headed in the opposite direction from the levels of saving required to fund those golden years.

According to a recent survey by the Phoenix Insurance Company, reality may be starting to sink-in:

“The whole projection of what retirement means to them has changed,” said Walt Zultowski, senior vice president for research and concept development at Phoenix Companies.

Nearly half of the respondents — 49 percent — said they were either planning to retire at a later date than originally planned or they were thinking about it.

It’s largely due to two things: “Their retirement nest eggs have taken a hit,” and they are increasingly aware that “they might be one of the people who lives to — not just 80, but — 90, 95 or 100,”

Source: CNBC

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The U.S. Treasury Department is expected to annouce that TARP funds will be extended to certain life insurers that have bank holding or thrift status.

The potential TARP funds are seen as most beneficial for those life insurers whose capital bases have suffered most during the financial crisis.

Strengthened capital bases are likely a positive for consumers of life and annuity products, while industry shareholders and executives would suffer from dilution of their ownership and increased regulatory burden in areas such as executive compensation.

Possible TARP fund recipients include Hartford Financial Services Group, Lincoln National, Genworth Financial, Prudential and MetLife, Principal Financial Group and the Phoenix Companies.

Source: Wall Street Journal    

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Traditional asset allocation and many target date mutual funds have not served retirees and near-retirees well during the financial crisis.  Many in the asset management community are realizing that diversification and asset allocation are not sufficient.

Largely in response to the crisis, several companies are rolling-out new products that combine traditional asset management and insurance.  These "hybrid" products use insurance to create a base income that is guaranteed for life and is not subject to market volatility

Companies currently offering hybrid products include the Phoenix Companies, Genworth Financial, Nationwide Mutual Insurance and Allstate Insurance.

Source: Investment News

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