I have a policy with Phoenix Life called an Income Security Plan (also referred to as Dynamic Permanent Health Insurance), taken out in March 2001. It was through Halifax, but with Royal and Sun Alliance, now part of Phoenix Life. The policy pays out if and when the holder of the policy "is totally incapacitated by accident or illness from following the occupation he was engaged in immediately prior to the incapacity and is not gainfully following any other occupation". In May 2011 I was declared not fit for work by my GP and this remains the case. My terms of employment mean I go down to zero pay after one year, and before that half pay after six months of being off sick. I am now on zero...
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France’s Axa has sold its UK investment, pensions and insurance businesses, including SunLife, to UK insurer Phoenix in a £375m deal. The deal will transfer £12.3bn of assets under management and more than 910,000 policies to Phoenix. The sale includes the pension and investment businesses Embassy and SunLife, which offer life cover to the over-50s. The Bristol-based SunLife has been part of the French insurance giant since 1996. Clive Bannister, chief executive of Phoenix, said the acquisition of the Embassy and SunLife businesses was another important step forward in the firm’s growth strategy. Phoenix specialises in buying life assurance businesses that are closed to new customers....
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HARTFORD, Conn.--( BUSINESS WIRE )--The Phoenix Companies, Inc. (NYSE: PNX) today announced that the board of directors of Phoenix Life Insurance Company voted to maintain the current policy dividend scales effective January 1, 2014 for policies in the closed block of business. “Our decision reflects solid performance of the closed block, which had claim experience within expectations and benefited from the recent rise in interest rates,” said James D. Wehr, president and chief executive officer. “Phoenix has maintained a competitive dividend track record since we demutualized in 2001 despite long periods of interest rate and other market environment challenges. These dividends add...
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Life assurance is a simple product designed to provide a lump sum or monthly income payment on death. It is designed to provide your dependants with financial security on your death and ensure that they are not left with a shortfall in income. It can also be used to protect mortgage and loans to ensure they are not passed on to your estate. When did you last review your life insurance? Are you paying too much for your existing life insurance policies? How would your spouse/partner/dependants cope if you were to die tomorrow/next week/ next month? – have you cover in place? Have you any loans that are not covered by a life policy? Is your business sufficiently covered for loans/ death of a...
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MetLife, Inc., one of the largest life and annuities insurance groups in the world, has provided reinsurance to cover $2.4 billion of pension fund related longevity risk for European pension and life consolidator Phoenix Group. The $2.4 billion of longevity risk was transferred through two reinsurance arrangements to Metlife, which used its Metropolitan Tower Life Insurance Company subsidiary to enter into the arrangements. “We are pleased to have completed our first two longevity reinsurance transactions with Phoenix and to support Phoenix in its U.K. pension de-risking activity,” explained Jay Wang, senior vice president and head of Risk Solutions for MetLife’s Retirement & Income...
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A CLASS ACTION HAS BEEN FILED BY DIVIDEND POLICYHOLDERS AGAINST THE PHOENIX LIFE INSURANCE CO AND THE PHOENIX COS CLAIMING BREACHES OF THE COMPANIES’ STATUTORY AND CONTRACTUAL DUTIES WHEN THE DIVIDENDS WERE REDUCED IN ORDER TO ENRICH THE STOCKHOLDERS OF THE INSURERS’ PARENT COMPANY. NEW YORK, New York, December 21, 2009 – Class action attorneys at Levy Konigsberg LLP have filed a nationwide class action lawsuit against The Phoenix Life Insurance Co. and The Phoenix Cos. on behalf of three dividend policy holders who claim the companies illegally diverted $55 million in dividends from the policyholders each year since 2006. The plaintiffs are policyholders who own their...
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About Nassau RE Although itself only founded about five years ago, Nassau RE is the heir to the Phoenix Mutual Life Insurance Company that formed in Hartford, Connecticut, way back in 1851. Nassau did not rise from the ashes of Phoenix. Instead, after Phoenix Life was involved in a series of mergers and acquisitions over its long history, the company was purchased by newly formed Hartford-based Nassau Financial Group in 2015. Nassau Financial is now the parent company of multiple insurers issuing policies under the Nassau brand, including (along with Phoenix Life and several others) the companies formerly known as Constitution Life, Pyramid Life, Pennsylvania Life, and Union Bankers....
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Our take Started as American Temperance Life Insurance in Hartford, Connecticut, in 1860, the company is recognized as the first life insurer in New York State. The following year, the company changed its name to Phoenix Mutual, and would later provide life insurance to President Lincoln and Andrew Johnson. Nassau Reemerged in 2015, but in 2016 the company purchased Phoenix Mutual (Phoenix Life Insurance Company). If you have a policy from Phoenix life insurance company, the parent company is now called Nassau Re. Today, the company assures its customers that they can expect the same, historically-great service to continue through Nassau Re. Customers can especially benefit from the Safe...
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About Us The Phoenix is a leader in Israeli multi-line insurance, asset management, and financial services. The group serves a significant portion of Israeli households with a broad set of activities and solutions across businesses and client segments. Managing over $60 billion in assets, the Phoenix accesses Israel’s vibrant and innovative economic activity through a robust investment portfolio, creating value for both clients and shareholders. Insurance Established in 1949, the Phoenix has led Israeli insurance underwriting, distribution, and innovation for over 70 years. With a leading brand and strong client loyalty, the Phoenix is committed to providing broad solutions, excellent...
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Phoenix Group Partners with TCS to Introduce Enhanced Analytics for Workplace Pension Clients Tata Consultancy Services’ and Phoenix Group’s New Analytics Tool to Empower Workplace Clients to Make Data Driven Decisions and Improve Retirement Outcomes for Members LONDON | MUMBAI, September 17, 2020: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organisation, announced that it has partnered with Phoenix Group, the UK’s largest long-term savings and retirement business, to launch an enhanced client analytics tool for workplace pension clients of its Standard Life Assurance Limited business. The new service has been...
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