Remembrance Life

Phoenix Remembrance Life

Plan ahead. Live confidently.

Phoenix Remembrance Life Brochure Cover

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
  • Whole life insurance designed for final expense coverage
    • 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
    Insured Age Coverage Amount
    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

Accidental Death Benefit Rider1

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

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
  • Agent is fully compensated for premium above the old annual premium (on the replaced policy)
  • Agent compensation, on the new policy, is reduced by any first year earned (or unearned commission remaining), on the original policy according to the table below:
Percentage of Reduced Compensation on the New Policy Policy Year of Replaced Contract
100% 1-3
80% 4-5
60% 6-7
40% 8-9
20% 10-12
0% 13+

Example:

New Policy Year One Commission Payable $600
Replaced Policy Year One Commission $300
Commission Payable on the New Policy $300

Want to Learn More?


Important Disclosures

Phoenix Remembrance Life is issued by PHL Variable Insurance Company (PHLVIC) (Harford, CT). PHLVIC is not authorized to conduct business in Maine or New York.

Member of the Phoenix Companies, Inc.

Withdrawals are subject to ordinary income tax, and if taken prior to age 59½, a 10% tax penalty may also apply.

Guarantees are based on the claims-paying ability of the issuing company

Product features, rider options and availability may vary by state. Please consult with a financial representative regarding features and availability in your state

1 Insured must be 65 or under at issue, and the rider terminates at age 75.

Administrative charge will apply upon rider election. The policy death benefit will be reduced when rider is exercised. Rider benefits are not long-term care. See product brochure for additional details.

Refer to the Accelerated Death Benefit Rider in the Other Important Downloads section of this page for more information (at end of section on ADBs).

Guarantees are based on the claims-paying ability of the issuing company. Product features, rider options and availability may vary by state.

FOR AGENT USE ONLY