Gretchen Morgenson Reports on PHL’s Failure

On May 20, 2026, reporting for NBC News, Gretchen Morgenson’s article entitled “She paid an insurance company $99,000 to generate retirement income for life. Then it collapsed.” dives into the impact of the rehabilitation and looming liquidation on PHL policyholders like Annie Benjamin, who put her retirement savings into a PHL annuity ten years ago. Her account is now frozen, as she awaits action by the Connecticut judicial system and the Rehabilitator to move PHL from rehabilitation to liquidation. Ms. Benjamin is just one of the many PHL policyholders a loss. You can read more about the PHL Rehabilitation here.

If you were put into a PHL product by a State Farm broker, you will want to read about the pending class action here. Contact us via our contact form for more information.