The Hartford has introduced three personal protection options as part of its Personal Retirement Manager variable annuity suite.
The new options are:
- Future 6, a lifetime guaranteed minimum withdrawal benefit that provides income protection and a 6% deferral bonus with market participation through the new Personal Protection Portfolios, which are designed to reduce the volatility of a consumer’s investment portfolio.
- Future 5, a lifetime guaranteed minimum withdrawal benefit that provides income protection and a 5% deferral bonus with market participation through diversified investment portfolios.
- Safety Plus, a 10-year guaranteed minimum accumulation benefit that provides principal protection with market participation through the new Personal Protection Portfolios and a bonus to future payout rates if it is transferred to the annuity’s Personal Pension Account at the end of 10 years.
The Personal Protection Portfolios of Future6 and Safety Plus provide access to investment managers and aim to reduce portfolio volatility. The product also offers legacy protection through two optional death benefit options.
“We are excited to offer consumers and distributors an expanded suite of variable annuity offerings with very competitive benefits at attractive prices,” says David N. Levenson, president of Wealth Management at The Hartford. “Across Wealth Management, we want to help customers in their pursuit of security in retirement. Growing our annuity business is an important component of that strategy.”
For more information, go to www.hartfordinvestor.com.