Product Name 2013 Updated Name Launch Date September 8, 2012 December 3, 2012 4th quarter 2012 launch Product Type Single Life Flexible Premium Universal Life Single Life Flexible Premium Universal Life Single or Joint Life Single Life Single Life Replacement or Update Current product Product Description and Purpose of this Update Key focus Single life flexible premium universal life insurance product with a secondary guarantee. Country-wide Tiered Policy Protection Premium Load Structure NY, CA, MD-only No Tiered Policy Protection Premium Load. Death Benefit Protection with Secondary Guarantees Issuing Company company. Hartford Life and Annuity Insurance Company Hartford Life Insurance Company (NY) Contract Forms Base Policy Rider Form #s Countrywide: LA1252(04) NY: HL15908(04) Policy Protection Rider Form #s LA-1259(04)Rev HL-15909(04)(NY)Rev Replacement Single life flexible premium universal life insurance product with a secondary guarantee. Tiered Policy Protection Premium load structure no longer varies by state Update product to recognize changes to AG38 reserving requirements while minimizing impact on premiums for core funding scenarios (1-pay, allpay, typical 1035x's) Death Benefit Protection with Secondary Guarantees company. Hartford Life and Annuity Insurance Company Hartford Life Insurance Company (NY) Base Policy Rider Form #s Compact: ICC12-1382 Non: LA-1382(12) HL-19357(12)NY Policy Protection Rider Form #s Compact: ICC12-1383 Non: LA-1383(12) NY: HL-19358(12)NY Changes are noted in this comparison Product updated to comply with 1/1/13 NAIC changes to reserving requirements. New product replaces all previously available versions. New Form Numbers CUSIP # 416589414 41658A387 New CUSIP Minimum face $100,000 ($50,000 for Standard risk classes) $100,000 ($50,000 for Standard risk classes) Face Amount Bands No face banding (except for monthly No face banding (except for monthly administrative charges) administrative charges) Issue Ages Level, Return of Account Value DBO 18-85 for all risk classes except, 0-85 for Standard Non-Nicotine Level, Return of Account Value DBO 18-85 for all risk classes except, 0-85 for Standard Non-Nicotine Risk classes Return of Premium DBO 18-70 for all risk classes Preferred Plus Non-Nicotine Preferred Non-Nicotine Standard Non-Nicotine Return of Premium DBO 18-70 for all risk classes Preferred Plus Non-Nicotine Preferred Non-Nicotine Standard Non-Nicotine Preferred Nicotine Standard Nicotine Preferred Nicotine Standard Nicotine NOT TO BE REPRODUCED OR SHOWN TO THE PUBLIC OR USED IN ORAL OR WRITTEN FORM AS SALES LITERATURE. Page 1 of 6
Issue Age basis Age Nearest Birthday Age Nearest Birthday Age Charges Cease Age 120 The tax consequences of continuing a policy beyond age 100 of an insured are uncertain. Consult your tax advisor. Age 120 The tax consequences of continuing a policy beyond age 100 of an insured are uncertain. Consult your tax advisor. Death benefit options Level Return of Account Value Return of Premium Decreasing (only as a change from ROA) Commissions Renewal and Excess commission duration - 10 years Level Return of Account Value Return of Premium Renewal and Excess commission duration - 10 years Decreasing death benefit no longer available No Lapse guarantees Policy Protection Rider is included on all policies, and is available on all death benefit options. This rider protects Policy, including any attached riders, from going into default as long as Policy Protection Value (PPV) is positive. PPV may be brought positive at any time by paying sufficient premium. $0.10 per 1000 of initial face. This charge applies only to the Policy Account Value and is not assessed to Shadow Accounts Policy Protection Rider is included on all policies, and is available on all death benefit options. This rider protects Policy, including any attached riders, from going into default as long as Policy Protection Value (PPV) is positive. PPV may be brought positive at any time by paying sufficient premium. $0.10 per 1000 of initial face. This charge applies only to the Policy Account Value and is not assessed to Shadow Accounts Changes to shadow account charges may result in a higher premium required to maintain the guarantee, depending on premium payment scenario and desired guarantee period. Tiered Policy Protection Premium Load structure will no longer vary by state company. company. Life Insurance Qualification Test Guideline Premium Test or Cash Value Accumulation (chosen at time of issue) Policy Protection Changes Tiered Policy Protection Premium load structure will no longer vary by state Guideline Premium Test or Cash Value Accumulation (chosen at time of issue) Cost of Insurance charges Current COI rates vary by gender, underwriting class, issue age, duration, face amount band. Current COI rates vary by gender, underwriting class, issue age, duration, face amount band. No structural changes - revised rates Guaranteed Cost of Insurance Rates are based on the 2001 CSO Male or Female, Nonsmoker/Smoker table, ANB Mortality Table Guaranteed Cost of Insurance Rates are based on the 2001 CSO Male or Female, Nonsmoker/Smoker table, ANB Mortality Table NOT TO BE REPRODUCED OR SHOWN TO THE PUBLIC OR USED IN ORAL OR WRITTEN FORM AS SALES LITERATURE. Page 2 of 6
Premium Loads Country-wide: Country-wide: OR and TX now use CURRENT CW OR & TX MT CURRENT CW MT Countrywide rates All years: 6.25% 8.25% 9.00% All years: 6.25% 9.00% GUARANTEED CW OR & TX MT All years: 6.25% 8.25% 9.00% GUARANTEED CW MT All years: 6.25% 9.00% NY, CA, MD-only CURRENT CW OR & TX MT Yr 1: 6.25% 8.25% 9.00% Yrs 2+: 2.25% 4.25% 5.00% Monthly Administrative charges Monthly per $1000 Charges GUARANTEED CW OR & TX MT Year 1-20 6.25% 8.25% 9.00% Year 21+ 4.25% 6.25% 7.00% Current: $10 for face amount up to $250,000 $7.50 for face amount $250,000+ Guaranteed: $10 Maximum Country-wide: Per $1000 face charge applies for 20 years. Varies by initial face amount, age, gender & risk class. Repriced per $1000 charges. Current: $10 for face amount up to $250,000 $7.50 for face amount $250,000+ Guaranteed: $10 Maximum Country-wide: Per $1000 face charge applies for 20 years. Varies by initial face amount, age, gender & risk class. Repriced per $1000 charges. Charges no longer vary by state NY, CA, MD-only: Per $1000 face charge applies 1st 3 years. Varies by initial face amount, age, gender & risk class. Surrender Charge 19-year surrender charge schedule applies. 19-year surrender charge schedule applies. Guaranteed Minimum Interest Rate Policy Loan Interest Rate 3.00% 2.00% Guaranteed Minimum Interest Rate Changed Non-Preferred Current Rate / Guaranteed Rate Non-Preferred Current Rate / Guaranteed Rate Loan Interest Rates Yrs 1-10: 5% / 5% Yrs 1-10: 4% / 4% Changed Yrs 11+ 4% / 4.25% Yrs 11+ 3% / 3.25% Preferred Current Rate / Guaranteed Rate Preferred Current Rate / Guaranteed Rate Yrs 1-10: N/A / N/A Yrs 1-10: N/A / N/A Yrs 11+ 3% / 3.25% Yrs 11+ 2% / 2.25% Policy Loan 3.00% 2.00% Loan Credited Rates Credited Rate Changed Policy Loans Minimum loan: $500 Minimum loan: $500 Maximum loan: 100% of Cash Surrender Value. Maximum loan: 100% of Cash Surrender Value. Withdrawals Minimum withdrawal amount: $500 Maximum withdrawal amount: Cash Surrender Value minus $1000 Minimum withdrawal amount: $500 Maximum withdrawal amount: Cash Surrender Value minus $1000 NOT TO BE REPRODUCED OR SHOWN TO THE PUBLIC OR USED IN ORAL OR WRITTEN FORM AS SALES LITERATURE. Page 3 of 6
Maturity Extension Policy automatically continues beyond age 120, Policy automatically continues beyond age 120, death benefit changes to Level option and charges death benefit changes to Level option and charges cease. cease. Options & Riders Accelerated Death Benefit LA-1191(02) / HL- 19234(06) Accidental Death Benefit ILA-1010 / HL-13889 Child Insurance LA-1278(06)Rev Cost of Living Adjustment LA-1193(02) / HL- 15853(02) LifeAccess Accelerated Benefit LA-1298(07) / HL- 19224(07) LifeAccess Care Rider LA-1354(10)FL, LA- 1354(10)NJ, LA-1354(10)SD, LA-1354(10)WA LongevityAccess Rider LA-1362(11) / HL- 19318(11)NY Owner Designated Settlement Option Rider LA- 1337(09) / HL-19284(09) Policy Continuation Rider LA-1243(03) / HL- 15897(03) Waiver of Deduction Amount ILA-1003 / HL- 11258(07) Waiver of Specified Amount Disability Benefit LA- 1301(07) / HL-19228(07) Accelerated Death Benefit LA-1191(02) / HL- 19234(06) Accidental Death Benefit ILA-1010 / HL-13889 Child Insurance LA-1278(06)Rev Cost of Living Adjustment LA-1193(02) / HL- 15853(02) LifeAccess Accelerated Benefit LA-1298(07) / HL- 19224(07) LifeAccess Care Rider LA-1354(10)FL, LA- 1354(10)NJ, LA-1354(10)SD, LA-1354(10)WA LongevityAccess Rider LA-1362(11) / HL- 19318(11)NY Owner Designated Settlement Option Rider LA- 1337(09) / HL-19284(09) Policy Continuation Rider LA-1243(03) / HL- 15897(03) Waiver of Deduction Amount ILA-1003 / HL- 11258(07) Waiver of Specified Amount Disability Benefit LA- 1301(07) / HL-19228(07) Additional details are available in the product prospectus and in the rider forms. Additional details are available in the product prospectus and in the rider forms. Accelerated Death Benefit Riders listed may Rider provides an accelerated payment of life insurance proceeds upon proof of diminished life expectancy. No charge until death benefit is accelerated. May Riders listed may Rider provides an accelerated payment of life insurance proceeds upon proof of diminished life expectancy. No charge until death benefit is accelerated. May Accidental Death Benefit Child Insurance Rider Issue Ages: 15-60 Expires on insured s 70th Provides term coverage on the life of each child (ages 16 days to 14 years). Each child s benefit expires on child s 25th Rider terminates on anniversary following base insured s 65th Issue Ages: 15-60 Expires on insured s 70th Provides term coverage on the life of each child (ages 16 days to 14 years). Each child s benefit expires on child s 25th Rider terminates on anniversary following base insured s 65th NOT TO BE REPRODUCED OR SHOWN TO THE PUBLIC OR USED IN ORAL OR WRITTEN FORM AS SALES LITERATURE. Page 4 of 6
Cost of Living Adjustment Rider LifeAccess Accelerated Benefit Rider (available in all states except NJ, SD, WA) LifeAccess Care Rider (approved in SD, WA, & NJ) Issue ages: 0-60. Not available to substandard risks. Expires at age 66. The COLA rider will provide automatic face amount increases w/o evidence of insurability. Increase amount is based on the CPI, not to exceed maximum increase of $50,000. Optional rider must be elected at issue. May not be available in all states. for upon certification of chronic illness. Minimum be elected at issue. upon certification of chronic illness. Minimum be elected at issue. This rider is filed under health regulations as a qualified long term care rider. Issue ages: 0-60. Not available to substandard risks. Expires at age 66. The COLA rider will provide automatic face amount increases w/o evidence of insurability. Increase amount is based on the CPI, not to exceed maximum increase of $50,000. Optional rider must be elected at issue. May not be available in all states. for upon certification of chronic illness. Minimum be elected at issue. upon certification of chronic illness. Minimum be elected at issue. This rider is filed under health regulations as a qualified long term care rider. LongevityAccess Rider Policy Continuation Rider This is an optional rider that may be selected at policy issue, and provides the following benefits at attained age 90, subject to a Benefit Eligibility Test: A Guaranteed Minimum Withdrawal Benefit (GMWB) A Waiver of Costs benefit A Residual Death Benefit This rider requires the use of the CVAT life insurance test. Inherent Rider. This rider protects a policy from lapsing due to overloan, and is automatically included in each policy at issue. No charge for the rider until the benefit is exercised. The Death Benefit is = the greater of 1) MDB percentage multiplied by account value or 2) 101% of account value. This is an optional rider that may be selected at policy issue, and provides the following benefits at attained age 90, subject to a Benefit Eligibility Test: A Guaranteed Minimum Withdrawal Benefit (GMWB) A Waiver of Costs benefit A Residual Death Benefit This rider requires the use of the CVAT life insurance test. Inherent Rider. This rider protects a policy from lapsing due to overloan, and is automatically included in each policy at issue. No charge for the rider until the benefit is exercised. The Death Benefit is = the greater of 1) MDB percentage multiplied by account value or 2) 101% of account value. Owner Designated Settlement Option Rider Electable rider, no charge. Rider allows policyholder to designate a settlement option for the beneficiary(ies). If exercised, beneficiary cannot change the option elected by the policyholder. Electable rider, no charge. Rider allows policyholder to designate a settlement option for the beneficiary(ies). If exercised, beneficiary cannot change the option elected by the policyholder. NOT TO BE REPRODUCED OR SHOWN TO THE PUBLIC OR USED IN ORAL OR WRITTEN FORM AS SALES LITERATURE. Page 5 of 6
Policy Protection Rider See description under No Lapse Guarantees section. Inherent Rider, included in all policies. $0.10 per 1000 of initial face. See description under No Lapse Guarantees section. Inherent Rider, included in all policies. $0.10 per 1000 of initial face. Waiver of Deduction Amount Rider Waiver of Specified Amount Disability Benefit Rider provides for waiver of the monthly deductions upon disability of the primary insured. Issue ages 10 through 55, and rider benefits are available through age 65. Optional rider available at an additional cost. May not be available in all states. Rider provides for waiver of a specified monthly amount of premium upon disability of the primary insured. Issue ages 20 through 60, and rider benefits are available through age 65. All policy guarantees and benefits are company. Rider provides for waiver of the monthly deductions upon disability of the primary insured. Issue ages 10 through 55, and rider benefits are available through age 65. Optional rider available at an additional cost. May not be available in all states. Rider provides for waiver of a specified monthly amount of premium upon disability of the primary insured. Issue ages 20 through 60, and rider benefits are available through age 65. This information is written in connection with the promotion or marketing of the matters addressed in this material. The information cannot be used or relied upon for the purpose of avoiding IRS penalties. These materials are not intended to provide tax, accounting or legal advice. As with all matters of a tax or legal nature, your clients should consult their own tax or legal counsel for advice. "The Hartford" is The Hartford Financial Services Group, Inc. and its subsidiaries, including the issuing companies of Hartford Life Insurance Company (New York) and Hartford Life and Annuity Insurance Company (outside new York), Simsbury, CT. The mailing address for both issuers is P.O. Box 2999, Hartford, CT 06104-2999. 2013 is a Single Life Flexible Premium Universal Life insurance policy. When issued outside of New York by Hartford Life and Annuity Insurance Company, the policy form number is LA-1382(12), Interstate Compact policy form number is ICC12-1382. When issued in New York by Hartford Life Insurance Company, the policy form number is HL-19357(12)NY. NOT TO BE REPRODUCED OR SHOWN TO THE PUBLIC OR USED IN ORAL OR WRITTEN FORM AS SALES LITERATURE. Page 6 of 6