I have had three instances where I have had complicated cases that I would not have been able to do a good job with. Ok, I might have been able to do a good job, but I would have had to put everything else on hold for quite awhile while working on the situation. My job does not permit me that type of freedom. After the first case and numerous phone calls to the companies we use for our insurance purposes, I found that Hartford Life was the only one willing to send a regional representative out on short notice. 

Why is this important? Well, the regional rep has been through the wars and has seen it all. The regional rep knows the in’s and out’s of any type of insurance product and how it will benefit the client. Additionally, the regional rep can put together schedules that can be explained and followed in an easy manner. I can assure you that this is important. Usually, the schedules that are put together will confuse the advisor until they have done quite a few. So, the advantage of having someone who can explain the schedules to clients who may not be as informed in the field is beneficial to both the client and the advisor.

In all three of my meetings I was able to make a phone call and have our rep available on short notice. I cannot do this with the other companies that we use. And, I cannot stress how much this means to me and to the clients. 

When it comes to the actual product, Hartford Life is as good as any other Life Insurance company. It is difficult to distinguish between products when it comes to life insurance. The bottom line to me is to have someone who can explain the product and explain it well. Hartford is the only company that we use that does this. They are the only company that provides the personalized attention that clients really want. And, I am not just talking about huge policies.

What Hartford has done is provide space for the simple, yet pertinent information- name, date of birth, address, etc. Yes, that is all that you will fill in on the form. The rest of the process- health, lifestyle, and personal information- is done through a phone call to the company. I know, big deal, right. I can assure you that it is a big deal since the old forms and the forms that most companies present can result in many frustrating moments regardless of how many times you fill them out.

Another idea that the Hartford is pushing is having regional agents come out for more complicated cases. In other words, you can meet with your advisor/agent and a regional agent if you please. The company has really begun to focus on customer service and it shows. For instance, Hartford will be buying me lunch twice this week as they teach us more about their products and how to make sure we get clients matched up with the correct policy.

Finally, the products themselves are top notch and the company is financially in excellent position. Why do I mention the company’s financial standing? For the simple reason that you want to be with a company that is financially healthy in the event you have a need. A financially insolvent company can not only be difficult to deal with, but they can also leave you hanging when it comes to paying out a claim. Although this is not a common occurrance, it can and has happened.

Hartford Life has excellent products in both Term Life Insurance and Variable Universal Life. The term policies are simply policies that expire after a set number of years and do not involve any of the bells and whistles that are involved with variable universal. On the other hand, the variable product will permit the owner to invest the cash value of the policy in a mutual fund and the policy will last indefinitely. 

What product is correct for you? Sorry, but that is not a question I can answer. Usually the guidelines involve your needs. If you are looking for additional insurance while putting a child through school I would look at term. If you are young and willing to allow your cash value to grow, I would suggest the variable product. Both of the products are competitively priced and have excellent track records.

Now for the negatives: If you are a smoker or over the age of 50 (they will write policies until you reach the age of 60) it will be more difficult to get insured through Hartford Life than other companies. One way that the company stays in such excellent financial shape is that they do not take on as much risk as other companies. Hence, the difficulty in getting coverage through Hartford. If you can get coverage through Hartford and are older or smoke, you will pay a pretty penny.

Another City Employee had requested that his asset allocation be revised. Months passed without anything being done by Hartford, despite letters and telephone calls. I recommended a letter to the New York State Insurance Division. I do not know if this was the catalyst, but his problem has been resolved.

I cannot remove any of my contributions until I retire, or if I die. Then they can be accessed. One of the recommended methods of withdrawal is a variable annuity. Ask any non-commissioned financial planner what he or she thinks of this method. Hartford has all of us invested in the 457 by the short hairs and they know it. I have become frustrated over this situation. By the way, until March 1 of this year the information at the general level was available on the Hartford site without the need of a PIN number.