The Phoenix Companies Inc., a company offering applications for families and individuals planning for or living in retirement, has added term life insurance to its product offerings, Phoenix Safe Harbor Term Life and Phoenix Safe Harbor Term Life Express. The company also has expanded into call center distribution through LifeQuotes.com for Term Life Express.

Phoenix Safe Harbor Term Life includes riders that can offer accelerated death benefits in the case of chronic illness, critical illness or terminal illness, and a waiver of premium in the case of unemployment. An optional accidental death benefit rider is available for an additional premium. Term Life Express offers the same benefits but uses simplified issue underwriting, with immediate underwriting decisions available via a tele-underwriting service.

Features of Phoenix Safe Harbor Term Life and Term Life Express include critical illness, chronic illness and terminal illness riders; an unemployment rider, automatically included for issue ages 18 to 60; and an optional accidental death benefit rider, which requires additional premium, that must be elected at issue and is available to insureds under age 65 at time of issue and terminates at the insured’s age of 70.

“Call center distributors cater to the type of consumers who want to shop for insurance online and also benefit from a personal consultation,” said Edward W. Cassidy, executive VP, distribution, and managing principal of Saybrus Partners Inc., Phoenix’s distribution subsidiary. “They will provide a natural complement to our IMO relationships by extending our reach to people who might not seek financial advice from a local insurance agent.”

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