Life Insurance Options offered through The Hartford
The Hartford Financial Services Group is one of the largest and most reputable insurance companies in the United States, with offices in the U.S., United Kingdom, Canada, Japan, Brazil and Ireland. In addition to their extensive portfolio of life insurance products, the company is a leading provider of employee benefits, homeowners, automobile and business insurance. Millions of individual and business customers around the world rely on the Hartford Group for their financial planning and insurance needs.
Crosspointe Insurance Advisors is very familiar with the various life insurance products offered by The Hartford. We can explain the features and benefits of each plan and help you determine the type of coverage you need.
Variable Universal Life Insurance:
A permanent life insurance product that provides a death benefit and the added protection of a cash value account, The Hartford's Variable Universal Life (VUL) policies give you several options for planning your future. You can choose the asset allocation option that best matches your time horizon, risk tolerance and long-term investment goals.
In a Variable Universal Life policy, "variable" refers to the performance of the investment options within the plan, and "universal" means the policy gives you flexible premium payment options over the life of the policy. With a VUL from The Hartford, you get more control over your investment options and the ability to access the cash value account through loans and withdrawals.
The Hartford offers three products in the VUL category of life insurance. Each of these provides the standard death benefit, as well as the flexibility and growth potential of a cash savings account.
Ask your Crosspointe Insurance Advisor about the following VUL plans from The Hartford:
- Hartford Leaders VUL Liberty
- Hartford Leaders VUL Legacy
- Hartford Leaders VUL Joint Legacy II
Universal Life Insurance:
With a Universal Life (UL) policy from The Hartford, you get the assurance of a death benefit, plus the flexibility to set your premium structure and build cash value. Any premium payments that are above and beyond the cost of insurance will be added to the policy's cash value, an account that earns interest monthly. This plan is ideal for those who want a cost-effective, permanent form of life insurance with a low-risk, interest-earning cash account.
The Hartford offers three products in the UL category of life insurance. Each of these provides the standard death benefit, as well as low-risk cash account that earns monthly interest.
Ask your Crosspointe Insurance Advisor about the following UL plans from The Hartford:
- Hartford Bicentennial UL Freedom
- Hartford Bicentennial UL Joint Freedom II
- Hartford UL Founders II
Indexed Universal Life Insurance:
If you are interested in a Universal Life policy that allows wealth accumulation at a rate of interest that is based on the S&P 500 Index, then you may want to consider an Indexed Universal Life (IUL) policy from The Hartford. In addition to the death benefit, this plan lets you choose from two different interest crediting options: 1) an interest based on the market performance of an external index, such as the S&P 500, with a cap on the credited rate of interest and a minimum floor to protect against market-based losses, and 2) a guaranteed fixed interest rate.
Ask your Crosspointe Insurance Advisor about the Hartford Frontier Indexed ULSM, a permanent form of life insurance designed to provide a greater cash value accumulation option while meeting your death benefit needs. This plan includes a protected index-based account that offers a higher rate of return than most traditional savings plans.
Term Life Insurance:
Term Life Insurance plans from The Hartford will provide you with death benefit protection for a specific time period, or "term". This product is most suitable for people who need a short-term death benefit to provide for the financial obligations of their family in the event of their untimely death. A Hartford Term Life Insurance policy may be used to pay for mortgage payments, as well as short term debts such as car payments, that would have otherwise been paid by the insured family's primary income earner(s).
Whole Life Insurance:
When you want the assurance of permanent death benefit protection, as well as an accessible cash value account and guaranteed premiums, then a Hartford Whole Life policy may be the right choice. While these plans are more expensive than Term Life or Universal Life policies, they offer the security of knowing your heirs are fully protected. This plan offers the flexibility of making additional premium payments to increase its cash value, and determining a premium schedule timetable that works for you. Loans can be taken from the cash value account of these plans to pay for a college education or new home, and may also be used as supplemental retirement income.
Crosspointe Insurance Advisors can help you learn more about the Hartford ExtraOrdinary Whole Life plan, as well as the many other life insurance products offered by The Hartford. We will evaluate your current and future financial needs, and offer a range of recommendations to meet your family's priorities and budget.