The Phoenix Companies Launches Phoenix Personal Retirement Choice℠ Annuity

The Phoenix Companies, Inc. (NYSE:PNX) today announced the launch of Phoenix Personal Retirement Choice℠, a single premium fixed indexed annuity with an optional Guaranteed Lifetime Income Benefit rider. Designed for individuals approaching or already in retirement, Phoenix Personal Retirement Choice is offered exclusively through an elite group of distribution partners working with Saybrus Partners, Phoenix’s distribution subsidiary.

“Many people are underprepared for retirement and want a product that will help address their savings shortfall and offer a lifetime income stream,” said Mark Fitzgerald, national sales manager for Saybrus Partners. “We introduced Personal Retirement Choice to respond to those challenges by offering both a competitive premium bonus and an option for predictable guaranteed lifetime income.

“The need for a product like this was echoed in our survey of annuity professionals at an industry forum last fall. When asked what they would most like to add to products currently on the market, one third of our survey respondents said ‘accumulation features,’ followed closely by ‘income guarantees’,” he said.

PRODUCT FEATURES

Phoenix Personal Retirement Choice is designed to address retirement risks with a variety of features and options for accumulation, protection and income. It is primarily an accumulation annuity that provides an upfront premium bonus that vests over time. The bonus is eligible to earn interest credits, thereby increasing growth potential. The premium bonus available ranges from 8% to 15%, which varies by state and depends on whether an income rider is elected.

Like all indexed annuities, Phoenix Personal Retirement Choice can benefit from positive market experience while protecting the initial investment from market downturns. The contract owner can choose from five indexed accounts that are linked to the S&P 500® and offer a variety of strategies to capture market gains, including two participation rate strategies without caps. A fixed account also is available, offering a predictable return on the account value.

Phoenix Personal Retirement Choice offers an optional Guaranteed Lifetime Income Benefit rider for an added fee. The amount of the Income Benefit is based on the premium plus premium bonus, the age of the contract owner and length of time until the rider is exercised. It grows each year the contract owner waits to begin the Income Benefit.

“With its focus on accumulation, this latest offering further broadens our product portfolio, which includes products that address all four of the primary retirement planning needs, from accumulation and income to family protection and extended care expenses,” said Dana Pedersen, Phoenix’s vice president and product officer. “We can now offer products to those who want to maximize accumulation or income potential as well as those who want a combination of protections and benefits.”

To learn more about Phoenix Personal Retirement Choice Annuity and other life insurance and annuity products available from Phoenix, agents, financial advisors and other distributors can contact their Phoenix wholesaler, the Life and Annuity Sales Desk at 800-417-4769, or visit www.phoenixwm.com.

BACKGROUND ON INDEXED ANNUITIES

An indexed annuity allows individuals to benefit from growth in the market without the risk of direct investment in the market. When the index shows a positive performance above a specified threshold, “index credits” that are based on that performance are added to the account value. Unlike direct investments, the account does not lose any value when the index goes down because the index credit can never be negative.

Annuities are long-term investments, particularly applicable for retirement planning. Annuities held within qualified plans do not provide any additional tax benefits. Early withdrawals may be subject to surrender charges. Withdrawals are subject to ordinary income tax, and if taken prior to age 59½, a 10% IRS penalty may also apply.

ABOUT PHOENIX

The Phoenix Companies, Inc. (NYSE:PNX) helps financial professionals provide solutions, including income strategies and insurance protection, to families and individuals planning for or living in retirement. Founded as a life insurance company in 1851, Phoenix offers products and services designed to meet financial needs in the middle income and mass affluent markets. Its distribution subsidiary, Saybrus Partners, Inc. offers solutions-based sales support to financial professionals and represents Phoenix’s products among key distributors, including independent marketing organizations and brokerage general agencies. Phoenix is headquartered in Hartford, Connecticut, and its principal operating subsidiary, Phoenix Life Insurance Company, has its statutory home office in East Greenbush, New York. For more information, visit www.phoenixwm.com and www.saybruspartners.com.

Phoenix Personal Retirement Choice (in most states, contract form #10FIA) is issued by PHL Variable Insurance Company (“PHLVIC”), Hartford, CT, a subsidiary of The Phoenix Companies, Inc. PHLVIC is not authorized to conduct business in NY and ME. Saybrus does not provide tax or legal advice. In California dba Saybrus Partners Insurance Agency, CA license #0G81229. Members of The Phoenix Companies, Inc.

Lifetime payments and guarantees are based on the claims-paying ability of PHL Variable Insurance Company.

Standard & Poor’s®, S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); and this trademark has been licensed for use by SPDJI and sublicensed for certain purposes by Phoenix Life Insurance Company. Phoenix products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such products nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

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