The Hartford Enhances Its Variable Annuity To Help Consumers Achieve Both ‘Living and Giving’ Goals

The Hartford’s Personal Retirement Manager product suite can now help provide lifetime income without reducing the death benefit, preserving a legacy for family or charity

SIMSBURY, Conn.--()--Retirees who need to invest for lifetime income but also want to preserve a financial legacy for loved ones or a favorite charity can now accomplish both through Hartford’s Personal Retirement Manager (PRM) Variable Annuity product suite.

“Many people have found it difficult to accomplish the opposing financial objectives of generating a lifetime income and leaving a legacy through a variable annuity,” said Steve Kluever, vice president of product and marketing for Global Annuities at The Hartford. “Hartford’s PRM offers options to help resolve this conflict and allow consumers to achieve both living and giving goals, without detracting from either.”

The Hartford’s new Future6 Death Benefit, available as an optional rider on PRM, allows for income withdrawals that do not reduce the death benefit, unlike most variable annuity death benefits, Kluever explained. The value of the death benefit is based on the greater of premiums invested or the contract value at the time income payments start, providing the withdrawals do not exceed predetermined limits, he said.

The Future6 Death Benefit is available when the optional Future6 Guaranteed Minimum Withdrawal Benefit (GMWB) is also elected. Future6 provides guaranteed growth of a future lifetime income stream through the greater of a 6 percent annual deferral bonus or market appreciation step-up. The bonus lasts for up to 10 years while investors delay taking income payments. Performance step-ups are available until age 90, even while taking income.

Investors who elect the Future6 GMWB are required to allocate their investment in the Personal Protection Portfolios, which are asset allocation models that provide access to a dozen world-class investment managers and help reduce the volatility of an investment portfolio through various market environments.

As part of the enhancements, The Hartford is also reducing certain expenses associated with PRM.

The Hartford is a leader in the annuities marketplace in terms of assets under management, with $78.4 billion in the United States as of Sept. 30, 2011.

“This enhancement to PRM represents the next step in broadening our product portfolio, and demonstrates The Hartford’s commitment to the annuity marketplace,” said Rob Arena, head of Global Annuities for The Hartford. “We see a growing need for retirement savings and income products and we believe in the power of annuities to meet those needs as America ages.”

About The Hartford

The Hartford Financial Services Group Inc. (NYSE: HIG) is a leading provider of insurance and wealth management services for millions of consumers and businesses worldwide. The Hartford is consistently recognized for its superior service and as one of the world's most ethical companies. More information on the company and its financial performance is available at Join us on Facebook at Follow us on Twitter at


Guarantees are based on the claims-paying ability of the issuing company. Riders are subject to additional charges. State availability may vary, and investment restrictions may apply.

“The Hartford” is The Hartford Financial Services Group, Inc. and its subsidiaries, including the issuing companies of Hartford Life Insurance Company and Hartford Life and Annuity Insurance Company.

You should carefully consider the investment objectives, risks, and charges and expenses of any variable contract before investing. This and other information can be found in the prospectus for the variable annuity and appropriate product information, which can be obtained from your financial professional or by logging on to Please read them carefully before you invest or send money.

Hartford’s Personal Retirement Manager suite of variable annuities are flexible premium variable annuities issued by Hartford Life Insurance Company and Hartford Life and Annuity Insurance Company, and are underwritten and distributed by Hartford Securities Distribution Company, Inc.

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2010 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.


The Hartford Financial Services Group Inc.
David Potter, 860-843-8993


The Hartford Financial Services Group Inc.
David Potter, 860-843-8993