Shield your loved ones with a welldesigned legacy

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1 Shield your loved ones with a welldesigned legacy P h o e n i x L e g a c y S h i e l d L i f e SM Single-premium guaranteed issue whole life insurance

2 Investment and Insurance Products: c Not FDIC Insured c No Bank Guarantee c May Lose Value

3 Preserve Your Family s Legacy Consider your assistance program options At some point in their lives, many people eventually face the challenge of how to pay for nursing home care. For those who are not already covered by longterm care insurance and are not eligible to purchase new coverage, government assistance programs may cover some of the cost of this care. Eligibility for these programs typically involves satisfying asset and income guidelines, and individuals may choose to create an elder care plan that takes these guidelines into account. One of the plan s goals can be to help individuals who would like to leave certain assets as a legacy for their loved ones. A New Solution Using Life Insurance Phoenix LegacyShield Life is specially designed for individuals in need of life insurance who have an elder care plan and who intend to apply for a government assistance program. Phoenix LegacyShield Life is single-premium whole life insurance with certain features that may make it exempt from consideration for the asset guidelines of government assistance programs. It provides two important benefits1: A $1,000 guaranteed policy death benefit Monthly payments provided by a Recurring Life Insurance Death Benefit Rider for a specified period of time to a designated beneficiary2 upon the insured s death With Phoenix LegacyShield Life, you can potentially qualify for benefits under a government program and leave a legacy to your family. Consult a professional Eligibility for government assistance programs is dependent upon state and federal laws and regulations and determinations are made on a case-by-case basis based on individual facts and circumstances. These laws are subject to change. It s also important to understand that Phoenix makes no guarantees that purchase of Phoenix LegacyShield Life will result in eligibility for assistance through any government program. You should consult an attorney or advisor qualified in elder care issues to determine whether Phoenix LegacyShield Life is right for you. 1. Guarantees are based on the claims-paying ability of the issuing company. 2. Rider beneficiary must be alive at the death of the insured to receive the payment. Payments continue until the earlier of the end of the elected payment period or the death of the beneficiary. 1

4 Phoenix LegacyShield Life: How it Works Phoenix LegacyShield Life ensures your assets will be distributed to your heirs according to your plan. Policy Features and Benefits Phoenix LegacyShield Life offers control, flexibility and peace of mind in one package, including the following benefits: Single Premium: The policy can be funded with a single premium payment, between $15,000 and $500,000. Guaranteed Issue: Upon application and payment of premium, your life insurance policy will be issued, regardless of the insured s health, with no medical underwriting and no health-related questions. Guaranteed Death Benefit: A $1,000 lump sum will be paid to the Policy Beneficiary(ies). The Policy Beneficiary(ies) may be changed after issue. Income Stream Death Benefit: A Recurring Life Insurance Death Benefit Rider provides a monthly income stream to a designated Rider Beneficiary for a specified period of time. Exact payment amounts will be provided in a customized preissue quote. Up To 5 Rider Beneficiaries: You may choose to designate up to 5 Rider beneficiaries to be paid a monthly income stream under the Recurring Life Insurance Death Benefit Rider(s). Payments will begin to each surviving Rider beneficiary upon the death of the insured and will continue to the end of the stated period or the death of the rider beneficiary, whichever is earlier. Rider beneficiary designations are irrevocable. Joint Life Option: A joint life option allows you to choose a secondary Rider beneficiary to receive an income stream in the event that the primary Rider beneficiary should die prior to the insured. Payments continue to the end of the selected payment period or until the death of the secondary beneficiary, whichever occurs first. Choice of 3 Income Payout Periods The monthly income stream may be paid out over a 5, 7 or 10 year period. In all cases, the payments will cease at the Rider beneficiary s death should this occur prior to the end of the stated payout period. The same period will apply for all Rider beneficiaries. 2

5 Case Study: The Client: Jim Murray, age 77 The Challenge: After living independently for many years, Jim needs full-time nursing home care, and plans to apply for government assistance program benefits to cover the cost. He has $100,000 in savings that he had planned to leave for his son, Peter, age 52, and daughter, Sharon, age 47, to help cover his grandchildren s education expenses. In order to apply for benefits under the government assistance program, Jim would need to spend the $100,000, depleting the legacy he has worked hard to create. The Solution: Working with a knowledgeable professional, Jim decides to purchase a Phoenix LegacyShield Life policy and name Peter and Sharon as the Rider beneficiaries. Since Peter has three daughters and Sharon has one son, Jim wants the payout to be paid to Peter and Sharon over 7 years in a 75%/25% split. He also designates Peter as the Policy beneficiary to receive the $1,000 lump sum death benefit. The diagram below shows how Phoenix LegacyShield Life would work in Jim s situation. Since Phoenix LegacyShield Life is a life insurance contract with a limited guaranteed death benefit and cash value, current government benefit countable asset exemptions may apply. Single Premium $100,000 Phoenix LegacyShield Life Policy Upon Jim s death $1,000 guaranteed lump sum death benefit $915/month 75% of income stream death benefit 3 paid over 7 years $305/month 25% of income stream death benefit 3 paid over 7 years Peter Sharon This is a hypothetical example shown for illustrative purposes only. Rates are subject to change. Clients should receive a customized quote before purchase. 3. Income stream death benefit amounts are based on stated payout period, as well as beneficiary s age and gender. Rider beneficiary must be alive at the death of the insured to receive the payment. 3

6 Other Important Information Free Look and Policy Cancellation Phoenix LegacyShield Life includes a free look period during which you have the right to review and return the policy for a full refund of the single premium, less any outstanding loans. Free look period terms vary by state. Please check with your financial professional for more information. In the event that you do not qualify for government assistance program benefits please contact our customer service team at to discuss your policy options. Tax Information The Policy death benefit is generally not taxable, however, a portion of the income payments received by your Rider beneficiary(ies) is taxable. The exact amount will depend on the individual payout amount and the beneficiary s age. Be sure to consult with a tax professional for more information on your individual situation. Talk with your financial representative about how Phoenix LegacyShield can help you leave a lasting legacy for your heirs. Contract Specifications 4 This policy includes certain restrictions which may be important for its consideration as an exempt asset by your government assistance program. The policy is irrevocable, non-transferable and non-assignable. Talk with your financial representative about how Phoenix LegacyShield Life can help your family realize a sound financial future. 4. Product features and specifications may vary by state. 4

7 The Phoenix Companies: helping families since 1851 Phoenix has a long, proud history of helping families reach their financial goals through innovative life insurance and annuity products. The following chart highlights historic events and corporate advances through the years, and shows how Phoenix has led the way in meeting the varied and changing needs of our customers. The Phoenix Companies Corporate and Product Highlights 1851 Founded as American Temperance Life Insurance Company, Hartford, CT 1865 Insured President Abraham Lincoln Known as the Retirement Income Company 1955 First to reduce life insurance premiums for women 1967 First to lower life insurance premiums for nonsmokers Annual Phoenix Wealth Survey monitors financial trends, behaviors and needs of the market 2001 The Phoenix Companies, Inc. goes public (NYSE: PNX) 2005 First spousal guaranteed minimum withdrawal benefit rider 2006 One of the first variable products to offer actively-managed ETF asset allocation funds 2008 First to launch a guaranteed income feature for managed money *The Securities and Exchange Commission has not approved or disapproved this security, nor passed upon the accuracy or adequacy of the prospectus. Any representation to the contrary is a criminal offense. For more information about Phoenix, visit our Web site at

8 Founded in 1851, Phoenix helps meet financial planning needs, from protecting people and their loved ones and businesses, to helping secure their retirement dreams through life insurance, annuities and alternative retirement solutions. As a financially strong and stable company with a history of keeping its promises, we are committed to excellence in everything we do. Guarantees are based on the claims-paying ability of the issuing company, PHL Variable insurance Company or Phoenix Life Insurance Company. Phoenix LegacyShield Life (10WLRDB, 10WLRDBSP, 10RDBS, 10RDBJ) is issued by PHL Variable Insurance Company (PHLVIC). In Maine and New York, Phoenix LegacyShield Life is issued by Phoenix Life Insurance Company (PLIC). PHLVIC is not authorized to conduct business in Maine and New York. These insurers are separate entities and each is responsible only for its own financial condition and contractual obligations. Members of The Phoenix Companies, Inc. L5081BR 2011 The Phoenix Companies, Inc. BPD