PHL IS IN REHABILITATION

Coverage and benefits continue for all active PHL policies subject to moratorium limits and payment of applicable premium amounts.

Some policy and annuity holders are now eligible to make changes to their policies or to access funds.

If eligible, you have or will receive personalized election package in the mail and you must postmark your elections by the date indicated in your package.

Last updated: April 10, 2026

WHAT YOU NEED TO KNOW

PHL Variable Insurance Company is under court-supervised rehabilitation. This legal process is designed to stabilize the company.

If anything changes that affects you, updates will be posted on this page and you will receive a letter with the updates.

Quick actions: FAQs  | Documents  | PHL Call Center: 1-877-800-2445 (Monday through Friday, 9 AM - 5:30 PM ET)

DO I NEED TO TAKE ACTION NOW?

Possibly. Eligible policy and annuity holders have received or will be receiving personalized election packages in the coming weeks. Please carefully review your options described in the election package and postmark your choice using the election form by the date indicated in your package. View FAQs for the Fixed Indexed Annuities Election Package and the Universal Life Insurance Policies Election Package. Contact the PHL Rehabilitation Call Center at 1-877-800-2445 with questions about your eligibility and options.

WHAT REHABILITATION MEANS FOR YOU

Policy Holders

  • Your policy remains active subject to the moratorium limits
  • If you want to keep your policy in effect, premium payments must be paid as scheduled
  • Claims continue to be processed subject to the moratorium limits
  • Certain other transactions may be limited by the moratorium

Annuity Holders

  • Scheduled annuity payments continue subject to moratorium limits
  • Contract terms remain in effect subject to the moratorium limits

I WANT TO UNDERSTAND WHAT’S HAPPENING

  • Rehabilitation is a process to help a company recover from financial distress. During this process, the Connecticut Insurance Commissioner (as Rehabilitator) is responsible for administering PHL’s business and developing a rehabilitation plan for PHL.
  • As part of the proceedings, the Court imposed a “moratorium” on certain policy and annuity payments and transactions. This means that during the rehabilitation proceeding, some policy or annuity holders may not be able to get the full amount of benefits or engage in certain transactions under their policy or annuity.
  • This determination means that PHL will transition to a Court supervised liquidation. As part of this new phase, the Rehabilitator will continue to administer the PHL business until a liquidation order is issued by the court and the PHL business is transitioned to the state life and health insurance guaranty associations or a buyer of the business.
  • At this time, policy and annuity holders within the United States will have coverage. This coverage will be provided by a buyer or the applicable state life and health insurance guaranty associations, and subject to at least the statutory terms and limits. Most PHL policies and annuities have limits below the state guaranty association limits (typically $300,000 for life insurance policies and $250,000 for annuities). Information about the applicable guaranty association limits is available at NOLHGA.com.
  • Depending on your policy and your state’s guaranty association limits, the amount of coverage and benefits you receive may stay the same or change. We will have more to share about what to expect later this year once the liquidation plan is developed.

FREQUENTLY ASKED QUESTIONS

I have a question about my policy. Who do I call?

Please contact the Nassau Customer Service at (800) 541-0171 for information about your policy status, premium, benefits and claims.

Is my policy still active?

Policies will remain active provided that the applicable premium payments are made.

Are claims still being paid?

Yes. Claims continue to be processed and paid subject to the moratorium limits.

What is rehabilitation?

It is a legal process designed to stabilize an insurance company.

What is the moratorium?

A court-ordered moratorium temporarily limits certain benefits and transactions to ensure fair treatment of all policy and annuity holders.

What can I do if the moratorium creates a hardship for me?

You can apply for an exception that, if granted, will permit the payment of benefits despite the moratorium limits. You can access the hardship form directly from the PHL webpage or it can be mailed upon request. Contact the PHL Call Center at 1-877-800-2445 to have one mailed to you. There is no assurance that a request will be granted, but each request will be carefully reviewed and considered.

Is PHL going to be liquidated?

Yes. We expect PHL will transition to a liquidation proceeding approved by the Connecticut Superior Court in late 2026.

What does liquidation mean for my benefits?

Policy and annuity holders within the United States will have coverage upon the transition to liquidation. This coverage will be provided by a buyer or the applicable state life and health insurance guaranty associations, and subject to at least the statutory terms and limits.

Depending on your policy and your state’s guaranty association limits, the amount of coverage and benefits you receive may stay the same or change. We will have more to share about what to expect later this year once the liquidation plan is developed.

OFFICIAL UPDATES & NOTICES SENT BY MAIL

  • February 2026 – Policy and annuity holder notice regarding transition to liquidation
  • March–April 2026 – Moratorium modification election packages mailed to eligible policy and annuity holders
  • (New) April 13, 2026 – On April 13, 2026, the CID held a virtual information session for PHL policy and annuity holders, which included an overview of the receivership process, status updates, and responses to pre-submitted questions. A recording of and transcript from the session are now available.
 

PHL DOCUMENTS

 

CONTACT & UPDATES

PHL Rehabilitation Call Center: 1-877-800-2445 Monday–Friday, 9:00 a.m.–5:30 p.m. ET

phl.rehabilitation@ct.gov

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