NU Online News Service, Oct. 21, 2004, 11:55 a.m.

The Hartford Financial Services Group is offering a new permanent life insurance policy featuring a secondary guarantee option.[@@]

Hartford Advanced UL, a flexible premium universal life insurance policy, is sold through the company’s subsidiaries, Hartford Life Insurance Co. and Hartford Life and Annuity Insurance Co.

The company says it is marketing the product to financially conservative consumers who want flexible premium payments and current interest rates for value accumulation in addition to death benefit guarantees.

Hartford Advanced UL offers a primary guarantee that ensures that the policy will stay in force as long as the value of the policy value can pay monthly deductions and charges.

The secondary guarantee, available through a rider, guarantees that the policy will not lapse even if there is not enough cash value to cover deductions and charges. The policyholder decides how long the guarantee will last, the company says.