This collaboration will allow the two organizations to combine their expertise in developing innovative annuity and life insurance products and bring these solutions to a larger universe of consumers.

The two companies also revealed the launch of their co-developed secure lifestyle annuity series, which includes the secure lifestyle and the secure lifestyle bonus fixed indexed annuities.

According to Phoenix, designed for both pre-retirees and retirees, the secure lifestyle annuities series is available exclusively through the Phoenix and AltiSure alliance and offers a revolutionary blend of product features that are not available elsewhere in the market.

The secure lifestyle annuity series offers two benefits like the safety growth strategy, a new innovation in interest crediting, and the guaranteed income and family wealth transfer benefit, which combines guaranteed lifetime withdrawals with an enhanced death benefit for one charge.

Secure lifeStyle Annuity and Secure lifeStyle Bonus Annuity are single premium fixed indexed annuities issued by PHL Variable Insurance Company, a subsidiary of The Phoenix Companies. The single premium, any premium bonus and interest credited to the contract are allocated to a Separate Account (also called a Segregated Asset Account).

Philip Polkinghorn, senior executive vice president for business development at Phoenix, said: “We believe that together, Phoenix and AltiSure will bring the industry a unique, forward-thinking approach to annuity product development. The Secure Lifestyle Annuity Series is just the first of what we hope will be many products jointly introduced to the marketplace.”

Niju Vaswani, president of The AltiSure Group, said: “When the opportunity to partner with Phoenix presented itself, we leapt at the chance to collaborate. With more than 150 years of experience, Phoenix brings a heritage and legacy of innovative product development that has continued to meet the evolving needs of individuals and families.”

Will the alliance benefit the firms?

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