Phoenix said it is offering the two new annuities to meet heightened interest in growth potential without exposure to downside market risk. As Tom Buckingham, senior vice president of life and annuity product development, put it, “Right now, there is increased demand from both distributors and consumers for products that take advantage of the market’s earning potential without exposing core retirement funds to the risk of loss. At the same time, many people are concerned that a fixed rate of return alone may not keep pace with inflation.”
The single premium paid at time of purchase must be a minimum of $15,000 and no more than $1 million. While the annuity with the bonus pays 5% of the premium, it has a lower credited interest rate.
