The Phoenix Companies, a Connecticut-based provider of life insurance and annuity products, has entered into strategic partnership with an independent marketing organization firm, Legacy Marketing Group, to design and market proprietary fixed annuity products.
The Connecticut-based insurer said this partnership allows two organizations to combine their expertise in developing new annuity products and bring these solutions to a larger consumers base.
In connection with this alliance, Legacy said it will launch CommandMark fixed indexed annuity series.
Designed for both pre-retirees and retirees, the CommandMark Series is available exclusively through the Phoenix and Legacy alliance.
The insurer said the CommandMark Series features vesting bonus options of up to 12%, a choice of index crediting strategies, and an optional income rider.
In addition, CommandMark provides clients the ability to access up to 10% of premium in penalty-free withdrawals each year after the first.
Legacy president Preston Pitts said CommandMark offers a combination of features unlike any other fixed annuity in the market including: built-in strategic diversification, high bonus options, a Guaranteed Lifetime Withdrawal Benefit (GLWB) rider, and a generous liquidity option.