NU Online News Service, June 18, 5:13 p.m. – The Hartford Financial Services Group Inc., Hartford, has introduced a new variable universal life insurance policy designed specifically for clients of Morgan Stanley Investment Management, New York.
The new policy, the Hartford Select Leaders Last Survivor Variable Universal Life policy, will be issued by Hartford’s Hartford Life Insurance Company and Hartford Life and Annuity Insurance Company units.
The policy will insure two lives and pay a death benefit after both insureds have died.
Last survivor policies are popular in the estate-planning market, because married couples can buy the policies for less than they would pay for two separate life policies, Hartford says.