NU Online News Service, March 15, 2004, 12:43 p.m. EST – The Hartford Financial Services Group Inc., Hartford, has introduced a new version of 2 variable universal life insurance policies.[@@]
Hartford is issuing the new Stag Protector II VUL policy and Stag Accumulator II VUL policy through its Hartford Life Insurance Company and Hartford Life and Annuity Insurance Company units.
Hartford has designed the Protector policies for customers who are interested mainly in death benefits and the Accumulator policies for customers who want income as well as death benefits.
The second generation of Stag VUL policies includes a base no-lapse guarantee and 2 optional no-lapse guarantees that ensure the policy’s death benefit will remain in force for a specified period no matter how the policy’s investment options perform.
The base guarantee provides that the death benefit will remain in force for 10 years or to age 75, whichever comes first, for clients age 69 or younger. Clients between the ages of 70 and 75 get a 5-year guarantee.