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Hartford Doubles Retention Limits

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A life insurer is trying to appeal to wealthy individuals by increasing the amount of mortality risk it will keep on its own books.

The life insurance arm of the Hartford Financial Services Group Inc., Hartford, is increasing the maximum amount of permanent life insurance coverage it will retain for insureds under age 75 to $10 million per policy, up from $5 million.

The retention limit is increasing to $5 million, from $2 million, for insureds ages 76 to 80; and to $2.5 million, from $2 million, for insureds ages 81 to 85.

The increase in retention limits affects holders of whole life, universal life and variable universal life policies.

The retention limit changes should make it easier and cheaper for Hartford to write bigger policies, the company says.


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