Strategic Allocation Program from J.P. Turner & Company Capital Management, LLC

Phoenix

Guaranteed income edGe®

An optional insurance benefit for clients in the Strategic Allocation Program

Phoenix

j.p. Turner & company

Phoenix Guaranteed income edGe® is an insurance certificate issued under a GrouP annuity contract by PhL VariabLe insurance comPany. this brochure must be Preceded or accomPanied by the Phoenix Guaranteed income edGe® ProsPectus.

retirement and market risks

Trillions of America’s assets are invested in stocks, bonds, mutual funds and separately managed accounts. The potential benefits of equity ownership are clear – it’s a way to create real wealth and hedge inflation over time. Unfortunately, owning equities also poses risks – specifically market volatility and bear markets – that can severely impact your retirement planning.

The chart below shows the annual returns of the S&P 500, a commonly used proxy of the stock market. While the market has offered the potential for growth over time, investors need to consider the implications of down markets. In the last decade, two such downturns occurred causing concern for investors planning for or in retirement.

Average Returns of the S&P 500® (1990-2010)

Returns

0. -40% -30% -20% -10% 0 10% 20% 30% 40%

12/31/90

12/31/91

12/31/92

12/31/93

12/30/94

12/29/95

12/31/96

12/31/97

12/31/98

12/31/99

12/29/00

12/31/01

12/30/02

12/31/03

12/31/04

12/31/05

12/29/06

12/31/07

12/31/08

12/31/09

12/31/10

Source: Standard & Poor’s as of 12/31/10. The S&P 500 is a free-float market capitalization-weighted index of 500 of the largest U.S. companies. The index is calculated on a total return basis with dividends reinvested. The index is unmanaged and not available for direct investment

As life spans increase, retirees must seriously consider the risk of outliving their assets should they live to an advanced age. Improvements in medicine and greater attention to health and wellness are translating into individuals living longer. Simultaneously, health care costs have risen significantly, placing increased pressure on retiree assets. As the chart below shows, a male age 65 has more than a 50/50 chance of living to age 85. So, if you are 65 today, chances are you’ll need to be financially prepared for 20 years of retirement… perhaps more.

Chance of a 65 Year Old Living to an Advanced Age

12/29/89 12/31/90Age12/31/91 12/31/92 12/31/93 12/30/94 12/29/95Male12/31/96 12/31/97 12/31/98 12/31/99 12/29/00 12/31/01Female12/30/02 12/31/03 12/31/04 12/31/05 12/29/06 12/31/07Couple*12/31/08 12/31/09

70

93%

96%

99%

80

71%

81%

94%

85

54%

67%

86%

90

34%

46%

70%

95

16%

23%

36%

Source: Society of Actuaries’ Annuity 2000 Basic Mortality Table with projected mortality improvement *Chance of one living

Model Portfolios

J.P. Turner & Company Capital

Management, LLC (“J.P. Turner”) has

created three diversified portfolios

that are available with an optional

4% or 5% guaranteed income

benefit. The portfolios feature a

combination of actively managed

and passive investments and have

been constructed to offer a unique

standalone guaranteed income

solution.

Strategic Allocation Program

Target Allocations as of 12/31/10

Model A

Balanced

Model B

Growth

Model C

Aggressive

Fixed Income

Equity

60% 40%

Investment Minimum: $25,000

Platform Fee: 30 bps

Max Advisor Fee without

impacting Income Edge: 150 bps

70% 30%

80% 20%

1 There is a separate fee for the Income Edge that is deducted from the managed account. The fee is a percentage of the RIB. It varies depending on

individual/spousal version, aggressiveness of portfolio, and whether the 4% or 5% income percentage has been selected. The fee may increase or decrease on

additional contributions or acceptance of an Annual Optional Increase to the RIB.

2 The Income Edge is a contingent benefit. That means the guaranteed income payments will be triggered if, during your lifetime, the value of your managed

account is reduced to $0 as a result of withdrawals from your managed account as allowed under the terms of the Income Edge and/or poor investment

performance. The guaranteed income benefit that can be provided by the Income Edge is 4% or 5% of the Retirement Income Base in effect when the account is

reduced to $0 as permitted by the Income Edge.

3 Certain fees may be considered withdrawals that lower the RIB. Withdrawals that reduce your RIB to zero cause the Income Edge to terminate. Please see the

Phoenix Guaranteed Income Edge® prospectus for more information.

4 Guarantees are based upon the claims-paying ability of PHL Variable Insurance Company and subject to the terms of the insurance certificate. The value of your

managed account must be invested in accordance with one of the models within the Strategic Allocation Program at all times for the Income Edge to remain in

effect. Please see the Phoenix Guaranteed Income Edge® prospectus for more information.

Phoenix Guaranteed Income Edge®

The Phoenix Guaranteed Income Edge® (“Income Edge”) is an insurance

certificate available with three Strategic Allocation Program models for a

separate fee.1 The Income Edge can provide guaranteed lifetime income if the

value of your managed account is reduced to zero. While the Income Edge

does not guarantee the value of your managed account or the performance

of any investments in your managed account, it can provide you with lifetime

income payments if they are triggered under the Income Edge.2 Unlike a

variable annuity, PHL Variable does not hold the assets in a separate account

exclusively for your benefit. The assets in your managed account are owned by

you and held by J.P. Turner’s custodian in a separately managed account (SMA)

for you. The assets are not held at the insurance company.

How the Income Edge Works:

• When you choose one of the Strategic Allocation Program models for your

managed account, you can choose to purchase the Income Edge. You can

also purchase the Income Edge at a later date, if available.

• On the issue date of the Income Edge, we use the current market value

of your managed account to set the amount of the “Retirement Income

Base” or “RIB” for your Income Edge certificate. Beginning at age 65, the RIB

is the value we use to compute the amount you can withdraw from your

managed account each year without negatively impacting the potential

benefit of your Income Edge. The RIB has no cash value and is not available

for withdrawal.

• If the value of your managed account is greater than the RIB on a certificate

anniversary, your RIB will be increased to match the account value, unless

you have declined the Annual Optional Increase for that anniversary. An

increased RIB equates to larger annual withdrawals, and larger guaranteed

income payments should they be triggered under the Income Edge. An

increased RIB will also equate to a higher fee for the Income Edge.

• If you are age 65 or older, you may begin taking income immediately as

withdrawals from your managed account without reducing the potential

benefit of your Income Edge. The annual withdrawals allowed by the

Income Edge are equal to 4% or 5% of your RIB. If you want to take larger

withdrawals or want to take withdrawals prior to age 65, you can do so but

such withdrawals will proportionately reduce your RIB.3

• Under the Income Edge, guaranteed income payments are triggered if

the value of your managed account reduces to zero through withdrawals

allowed by the Income Edge and/or poor market performance. If this

occurs, we make payments to you for your lifetime in the annual amount of

4% or 5% of the RIB4 in effect when your account value was reduced to zero

under the terms of the Income Edge – the higher the RIB, the higher the

guaranteed income payments. Payments would begin after your age 65 or,

if you have the spousal version, the younger spouse’s age 65.

The Phoenix Guaranteed Income Edge®

provides clients an option to add an income guarantee

to their managed account portfolio.

At a Glance

• The Strategic Allocation Program offers three

diversified separate account portfolios that are

available with a 4% or 5% guaranteed income

benefit known as the Phoenix Guaranteed

Income Edge® (“Income Edge”).5

• The Income Edge can provide guaranteed

lifetime income if the value of your managed

account is reduced to zero.

• The Internal Revenue Service issued nonprecedential

rulings addressing the taxation

issues surrounding the Income Edge. The Income

Edge does not change the tax treatment of the

managed account. It is an annuity for federal

income tax purposes and as such, results in no

income tax liability until Income Edge payments

are actually made.

• There are no surrender charges associated with

the Income Edge but there is an annual fee taken

quarterly in advance.6

• The Income Edge was designed to meet needs

of investors who are concerned about outliving

their assets.

Who Should Consider the

Income Edge?

• Individuals in the “bridge phase” who are still

accumulating but are nearing their target retirement date, as well as individuals currently in retirement,

may benefit from the protection offered by the Income Edge. Even if your account loses value, establishing a Retirement Income Base (RIB) locks in a floor from which an income stream is calculated annually once you reach

age 65. At issue, you elect an income percentage of either 4% or 5% of the RIB which determines the amount of annual withdrawals from your managed account, and if triggered, annual income payments under the Income Edge.7 A younger purchaser (i.e., one who is under age 65) will pay more in fees over the lifetime of the product for the same potential benefits received by an older purchaser.

5 Provided by an insurance certificate issued by PHL Variable Insurance Company. A separate application and approval by PHL Variable

Insurance Company is required.

6 PHL Variable Insurance Company sets the percentage for the Income Edge fee. The Income Edge fee is based on a percentage of the RIB. It can

change if you accept the Annual Optional Increase, add contributions to your managed account, or transfer your assets to a different Strategic

Allocation Program model. The Income Edge fee is in addition to fees charged for the model portfolios and advisor related fees.

7 Guarantees are based upon the claims-paying ability of PHL Variable Insurance Company and subject to the terms of the insurance certificate.

The value of your managed account must be invested in accordance with one of the Strategic Allocation Program models at all times for the

Income Edge to remain in effect. Please see the Phoenix Guaranteed Income Edge® prospectus for more information.

Example of the Income Edge in a Rising and Falling Market

Assuming Investor Accepts the Annual Optional Increase

in RIB

Lock in

Retirement Income

Base (RIB)

Account Value

Increase in Value

Increase in Value

Decrease in Value

RIB

Account

Value

4% or 5% guaranteed income

stream is locked in on progressively

higher RIB each year

No step up exercised due

to falling market. Income

stream remains uninterrupted

This is for illustration only and is not meant to represent any actual

investment. In this hypothetical example, the investor’s initial

investment establishes the RIB. The illustration assumes the market

value of the managed account (“Account Value”) increases year-toyear,

the investor does not decline an optional increase, and does not

take withdrawals from Account Value that are “excess withdrawals”

for the Income Edge, and as a result, the RIB is increased on the

anniversary date. If the Account Value subsequently declines due to

negative performance, the RIB previously increased is not affected by

the negative performance. Withdrawals reduce the investor’s Account

Value.

taLk to your adVisor today

Learn how the Strategic Allocation Program models paired with the Income Edge could be the key to helping you maintain income throughout retirement.

imPortant discLosures

The Phoenix Guaranteed Income Edge® is sold by prospectus and is J.P. Turner & Company Capital Management, LLC is a registered

subject to the terms and conditions described in the prospectus and investment advisor and does not sell, recommend or advise on

underlying insurance certificate. insurance products. PHL Variable is an insurance company that does

PHL Variable Insurance Company (PHL Variable) has filed a registration not provide investment, tax or legal advice and does not recommend

statement (including a prospectus) with the SEC for the Phoenix or endorse any investment strategy. An investor should assess his/her

Guaranteed Income Edge®. Before you invest, you should read the own investment needs based on his/her own financial circumstances

prospectus in that registration statement and other documents PHL and investment objectives. This communication is not intended

Variable has filed with the SEC for more complete information about to meet the objectives or suitability requirements of any specific

PHL Variable and the Phoenix Guaranteed Income Edge®. You should individual or account.

carefully consider the charges, withdrawal restrictions and risks It is important to remember that there are risks inherent in any

associated with the Phoenix Guaranteed Income Edge®. The prospectus investment and that there is no assurance that any asset class or

contains this and other information. index will provide positive performance over time. Past performance

You can obtain a copy of the prospectus for the Phoenix Guaranteed is not a guarantee of future results. Diversification and strategic asset

Income Edge® and any documents incorporated by reference into the allocations do not assure a profit or protect against loss in declining

markets.

prospectus for free by calling PHL Variable at 800-866-0753.

also access the prospectus and incorporated documents for free at our The Phoenix Guaranteed Income Edge® (form 07GRISGA.2) is issued

website at www.phoenixwm.com or by visiting EDGAR on the SEC’s by PHL Variable Insurance Company (Hartford, CT), and distributed by

website at www.sec.gov. The funds and ETFs included in the Strategic 1851 Securities, Inc. (Hartford, CT), member FINRA. PHL Variable and

Allocation Program Model Portfolios have separate prospectuses you 1851 Securities, Inc. are members of The Phoenix Companies, Inc. PHL

can obtain by calling 888-578-8763Variable and or1851 Securities,by visitingInc. are not afiliated EDGARwith J.P. Turneron&

website at www.sec.gov. Company Capital Management, LLC.

The Strategic Allocation Program is comprised of certain asset PHL Variable Insurance Company is not licensed to conduct business in

allocation models for which J.P. Turner & Company Capital NY and ME. The certificate may not be available in all states.

Management, LLC acts as investment advisor. The Phoenix Guaranteed “J.P. Turner®” is a trademark of J.P. Turner & Company, LLC and has been

Income Edge® is an insurance certificate issued by PHL Variable under a licensed for use by PHL Variable Insurance Company and certain of

group annuity contract that can provide an income guarantee related its afiliates. The Phoenix Guaranteed Income Edge® is not sponsored,

to the asset allocation models. The certificate has its own restrictions, endorsed, sold or promoted by J.P. Turner & Company Capital

charges and risks. The Phoenix Guaranteed Income Edge® has a Management, LLC and J.P. Turner & Company Capital Management, LLC

separate fee in addition to the fees associated with the underlying makes no representation regarding the advisability of purchasing the

investment account. Guarantees are based upon the

ability of PHL Variable. Phoenix Guaranteed Income Edge®.

SEC File No. 333-168963

BPD37670 (4/11)