Early Access to Death Benefits with Phoenix Safe Harbor Term Life Express
The Terminal Illness rider gives you the option to accelerate a portion of your death benefit if you are diagnosed as terminally ill with a life expectancy of one year or less.
Howard Buys A Policy
At age 50, Howard buys a Phoenix Safe Harbor Term Life policy with a 20-year duration and a $150,000 death benefit.
Howard Has 12 Months to Live
Doctors detect that Howard suffers from an incurable disease. They tell Howard at age 65 that he has a year, at best, to live. Howard wants to take his children and grandchildren on a family
vacation while he still can travel. He chooses to pay for it with his policy.
Howard accelerates 95% of his death benefit or $142,500. He receives a benefit of $136,164 which he can use for any type of expense.
Howard Passes Away
He passes away only nine months later. His beneficiaries receive the remaining death benefit of $7,500 upon his death.1, 2
1 The premium is reduced proportionally to the reduction in death benefits, but the annual policy fee is not reduced.
2 An administrative charge will apply upon rider exercise.
The ability to apply for coverage over the phone directly with Phoenix licensed agents is available in CO, CT, GA, MI, NC, SC, and OH, at this time.
Guarantees are based on the claims-paying ability of the issuing company.
Phoenix Safe Harbor Term Life and Phoenix Safe Harbor Term Life Express (ICC14PPTL, 14PPTL) are issued by PHL Variable Insurance Company (PHLVIC) (Hartford, CT). PHLVIC is not authorized to conduct business in Maine and New
Members of The Phoenix Companies, Inc., a Nassau Re Company