Hartford, CT -- The Phoenix Companies, Inc. has introduced a new flexible premium variable annuity with a shortened surrender charge period and innovative benefit options.

"This product is designed with a three-year surrender charge period, which enhances the flexibility of the client’s premium payments," said Michael Gilotti, Phoenix senior vice president. "What sets Phoenix Investor's Edge apart from other variable annuities is that one of its death benefit options may also help offset nursing home or other assisted living expenses during the owner’s lifetime."

Phoenix Investor’s Edge^SM offers the following death benefit options:

• Return of Premium — designed to protect beneficiary from loss of principal;
• Annual Step-Up — designed to protect beneficiary from loss of principal and contract earnings; and

• Phoenix Earnings Protector^SM - designed to reduce the tax impact of distributing contract earnings upon death or upon confinement to a nursing home or assisted living facility.