| Insurance Company | Hartford Life & Annuity |
|---|---|
| State Availability | All States |
| Ratings | A+ |
| Standard & Poor's | AA |
| Moody's | Aa3 |
| Investment Options | Fixed DCA Plus 6 & 12 month program Variable 40 |
| Fund Families |
|
| Initial Premium Minimum | $10,000 Non-Qualified, $2,000 Qualified |
| Add Premium Minimum | $500 wire/$50 auto addition |
| Max Issue Age | 85 (oldest of Owners & Annuitant on the issue date) |
| Max Annuitization | Later of Annuitant age 90 or 10 yrs from date of issue |
| Transfers | Hartford attempts to curb frequent transfers in the following ways: 20 Transfer Rule; and Abusive Trading Policy. The 20 Transfer Rule allows the first 20 transfers to be done via telephone, voice respone unit, internet; and U.S mail. Transfers in excess of 20 must be submitted in writing only . Abusive Transfer Policy allows for sub-account transfer privilege to be restricted regardless of the number of transfers (see prospectus of details). |
| Annual Contract Fee | $30, waived for Anniversary Value of $50,000 or more |
| Free Corridor | Contract years 1-4 is 10% of purchase payments. Contract years 5+ is 100% earnings, plus premiums older than 4 Yrs. plus 10% of premiums less than 4 Yrs. |
| Standard Death Benefit | Issue Ages 0-80: Premium Security is the greater of
Issue Ages 81-85: Assest Protection Benefit (APB only) Asset Protection Benefit (APB)=Greater of (A) Account Value (B) Account Value Plus 25% (minus withdrawals) of total premiums (C) Account Value Plus 25% (minus withdrawals) of the Maximum Anniversary Value to age 81. Option B & C exclude premiums received w/in 12 mths of death and can't exceed the greater of (A) Account Value (B) Return of Principal (C) Maximum Anniversary Value prior to age 81. |
| Optional Death Benefits Riders? | [All riders may not be available in all states] |
| Optional Income Benefit Riders? | [All riders may not be available in all states] No. |
| Optional Riders? | [All riders may not be available in all states] Principal First Rider (7% WIB) Issue age: 85 for Non Qualified & ROTH and 80 for Qualified. Allows for protection of principal assuming withdrawals do not exceed 7% per contract year. Benefit Amount may be stepped up every 5 years. Rider election is irrevocable. Principal First Preferred Rider (5% WIB) Issue age= 85 for Non Qualified & ROTH and 70 for Qualified. Allows for protection of principal assuming withdrawals do not exceed 5% per contract year. No relocking step-up feature, but Rider is revocable after 5 yrs. |
| Options | Asset Allocation? Yes Auto Additions? Yes Dollar Cost Averaging? Yes Nursing Home Waiver? Yes Widow Waiver? No Terminal illness Waiver? No RMD Waiver? Yes, if enrolled in automatic RMD program. Systematic Withdrawals? Yes Spousal Continuation? Yes IRA 2000 Availability? Yes |