Portability and Conversion Side by Side. A Simple Way to Compare

Group Life Portability and ConversionEMPLOYEE GUIDE

Portability and Conversion Side by Side.

A Simple Way to Compare Your Options.

We deliver on our promises every day.

Your group life insurance from The Hartford

is valuable financial protection for you and your family. If that protection ends,

wouldn’t you want to consider continuing your life insurance coverage?

Fortunately, your employer’s plan includes a Conversion option and may have a Portability option, as well. This means you

may have a choice of “converting” your coverage to an individual policy or “porting” it to another group term life policy.

WE MAKE YOUR OPTIONS CLEAR.

To decide whether Portability or Conversion is the right choice for your personal situation, you need to understand

the differences. We help you see them clearly with our side-by-side comparison.

TAKE TIME TO COMPARE.

Compare The Hartford’s Portability and Conversion options for continuing your life coverage. Then you’ll know what

makes sense for you and your family. For more information, contact your Benefits Administrator or

call The Hartford toll-free at 1-877-320-0484.

1 The Hartford

is The Hartford Financial Services

Group, Inc. and its subsidiaries, including issuing

companies Hartford Life Insurance Company,

Hartford Life and Accident Insurance Company and

Hartford Life Group Insurance Company. All benefits

are subject to the terms and conditions of the policy.

Policies underwritten by the issuing companies

above detail exclusions, limitations, reduction of

benefits and terms under which the policies may

be continued in force or discontinued.

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Compare The Hartford’s

Portability and Conversion

options… then you’ll know

what makes sense for you

and your family.

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Question?

Term Insurance – This type of policy

provides low-cost protection for

a specified period of time. The

premiums charged are lower;

however, no cash value is built

up from which you can take loans

or receive a cash refund if you

surrender the policy.

Premiums are set in five-year age

bands so that they will increase

when you reach the next five-year

age band.

Whole Life Insurance – This type

of policy may be kept in force for a

person's entire life and pays a benefit

upon death. Premiums are fixed

throughout the life of the policy.

The premiums for whole life policies

are higher than premiums for term

insurance since whole life policies

build cash value from which you can

take loans. In addition, they include

a cash surrender value. This means

if you surrender the policy, you

can receive cash or continue your

coverage without further premium

payment. Your amount of continued

coverage would be based on how

much your cash surrender value

could buy.

Your policy may include an option to

elect a one-year term insurance policy

prior to the individual Conversion

coverage. Please see your policy

for specifics.

Universal Life Insurance – This type

of policy combines the low-cost

protection of term insurance with a

savings feature. Premiums are put

into an account that is invested.

Each month the cost of insurance

is deducted from the account. The

account builds cash value from

which you can take loans and

provides flexibility in premium

payment. A premium payment can

be skipped if there is adequate

money in the account to pay the

cost. However, if premiums are not

paid on a regular basis, the insurance

may not last throughout your lifetime.

If you surrender the policy, a

surrender charge may apply, but

you will be eligible to receive any

amount remaining in the account

after the charge is deducted (the

cash surrender value).

Your policy may include an option

to elect a one-year term insurance

policy prior to the individual

Conversion coverage.

Group Life

Portability and Conversion

From The Hartford

THIS CHART WILL HELP YOU UNDERSTAND THE DIFFERENCES BETWEEN

PORTABILITY AND CONVERSION COVERAGE.

Portability

Conversion – For residents of

all states except New York

Conversion –

For residents of New York

What type of life

insurance policy

will you receive?

We deliver on our promises every day.

1 The Hartford

is The Hartford Financial Services

Group, Inc. and its subsidiaries, including issuing

companies Hartford Life Insurance Company, Hartford

Life and Accident Insurance Company and Hartford

Life Group Insurance Company. All benefits are subject

to the terms and conditions of the policy. Policies

underwritten by the issuing companies above detail

exclusions, limitations, reduction of benefits and terms

under which the policies may be continued in force

or discontinued.

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We deliver on our promises every day.

Question?

Portability may apply to all or

a portion of your life insurance

coverage. You may continue 50%,

75% or 100% of the amount of

insurance that is ending, if the

Portability benefit applies to that

coverage. Please note, however,

that the amount you can continue is

subject to the following maximums:

• Employee - $250,000

• Spouse - $50,000

• Children - $10,000

Please see your Benefit Administrator

for the amount eligible for Portability.

The amount varies depending

on the reason coverage is ending.

Under some circumstances, the full

amount of terminating coverage can

be converted. Under others, the

amount may be limited.

Please see your policy for specifics.

The amount varies depending

on the reason coverage is ending.

Under some circumstances, the full

amount of terminating coverage can

be converted. Under others, the

amount may be limited.

Please see your policy for specifics.

Portability

Conversion – For residents of

all states except New York

Conversion –

For residents of New York

Now that some or

all of your group life

insurance coverage is

ending, what amount

can you continue?

Employee and Spouse - $5,000

Child - $1,000

No No

Is there a minimum

amount that can

be continued?

Yes. You will be charged group

rates based on your age. Please

see your employer for your

Portability rates.

Rates may change based on the

experience of the entire group

of people who elect Portability

coverage.

Yes. This is a whole life policy that

includes cash value, while the

coverage from your employer was

group term coverage. Rates for

Conversion coverage are generally

higher than the group rates charged

through your employer.

If your policy includes an option to

elect a one-year term insurance policy

prior to the permanent conversion

coverage, the rates for the one-year

term coverage will be lower than

the rates for the whole life policy

that follows.

Yes. This is a universal life policy

that includes cash value while the

coverage from your employer was

group term coverage. Rates for

Conversion coverage are generally

higher than the group rates charged

through your employer.

If you request a one-year term

insurance policy prior to the individual

Conversion coverage, the one-year

term rates will be lower than the

rates for universal life coverage.

Will the rates for the

new coverage differ

from the group life

insurance rates through

your employer?

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No No No

Do you need to answer

medical questions or

have a physical exam to

continue coverage?

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We deliver on our promises every day.

Question?

No, your coverage amount will be

reduced by 75% when you attain

age 65.

Yes. No automatic reductions apply. Yes. No automatic reductions apply.

Portability

Conversion – For residents of

all states except New York

Conversion –

For residents of New York

Once you are covered,

will your coverage

amount remain

the same?

Coverage can continue until the

first of these occurs:

• You reach age 75.

• You enter active full-time duty in

the armed forces of any country.

(This does not include active duty

training for two months or less.)

• The last day for which you paid

premium.

Coverage will also terminate if the

group policy for the entire group

of people who elect Portability

terminates.

Coverage can continue with premium

payment until Scheduled Maturity

Date (age 100), at which time the

cash surrender value is paid to the

insured. As an option to receiving the

cash surrender value, coverage can

continue without further premium

payments beyond age 100.

Coverage does not terminate if you

enter active military service, and

Conversion coverage does not

include a war exclusion.

Coverage can continue with premium

payment until Scheduled Maturity

Date (age 100) at which time cash

surrender value is paid to insured.

Coverage does not terminate if you

enter active military service, and

Conversion coverage does not

include a war exclusion.

How long can

coverage continue?

Once coverage is in force:

• You can decrease the coverage

amount to 75% or 50% of the

original amount.

• Increases are not available.

Once your coverage is in force:

• After seven years, you can

decrease the face amount. You

are not limited to selecting only

75% or 50% of the original

amount.

• Increases are not available.

Once your coverage is in force:

• After the first policy year, you can

increase or decrease the face

amount. You are not limited to

selecting only 75% or 50% of

original amount.

• Requests to increase coverage

would be subject to review and

approval of your medical history.

If you want to change

your coverage amount,

is that option available?

No, Waiver of Premium is not

available if you elect portability.

Yes. If you’re disabled and apply for

Waiver of Premium, you should elect

Conversion when your group coverage

ends. Then if you’re later approved

for Waiver of Premium, you may

surrender the Conversion policy and

your Conversion premiums will be

refunded. If you are not approved for

Waiver of Premium, you will still have

your Conversion coverage.

Yes. If you’re disabled and apply

for Waiver of Premium, you should

convert when your coverage ends.

Then if you’re later approved for

Waiver of Premium, you may

surrender the Conversion policy

and your conversion premiums will

be refunded. If you’re not approved

for Waiver of Premium, you will still

have your conversion coverage.

If your policy includes

Waiver or Premium, can

you apply for both

Waiver of Premium

and this option at the

same time?

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We deliver on our promises every day.

Question?

An Accelerated Benefit is available

to employees if it is included under

the employer’s group life policy.

This benefit allows an acceleration

of a portion of your life insurance

benefit if you become terminally ill.

(The Accelerated Benefit does not

apply to dependents.)

Although additional benefits are

not included, loans from your cash

value may be available.

Although additional benefits are

not included, loans from your cash

value may be available.

Portability

Conversion – For residents of

all states except New York

Conversion –

For residents of New York

Are any additional

benefits included?

Yes. A benefit will not be paid if

death due to suicide occurs during

the first two years of coverage

under the Portability policy.

However, in that event, unused

premiums will be refunded.

Yes. A benefit will not be paid if

death due to suicide occurs during

the first two years of coverage under

the Conversion policy. However, in

that event, unused premiums will be

refunded.

Yes. If death occurs due to suicide,

no benefit amount which became

effective within two years of death

will be paid. This includes initial

coverage and increases in coverage.

However, in that event, unused

premiums will be refunded.

Are there any

exclusions?

Please contact your Benefit

Administrator to receive the

appropriate forms for obtaining

additional information.

Please note that Portability is not

available to residents of Vermont.

Please contact your Benefit

Administrator to receive the

appropriate forms for obtaining

additional information.

Please contact your Benefit

Administrator to receive the

appropriate forms for obtaining

additional information.

How do you request

coverage?

Yes, if Portability for dependents is

included in your employer’s policy.

Please note that dependent children

can only continue coverage under

the Portability provision if a parent

is also eligible and is electing

Portability.

Yes, if your dependents have life

insurance coverage under your

employer’s policy.

Yes, if your dependents have life

insurance coverage under your

employer’s policy.

Are you also eligible to

continue coverage on

your dependents?

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We deliver on our promises every day.

Question?

Portability

Conversion – For residents of

all states except New York

Conversion –

For residents of New York

Yes! Generally, you must return

your completed application and first

quarterly premium to The Hartford

within 31 days after your group

coverage terminates. Please see

your policy for any exceptions that

may apply.

It’s very important that you act

quickly so you don’t miss this

opportunity!

Yes! You must return the completed

Notice of Conversion form to

The Hartford within 31 days after

group life insurance terminates or

15 days from the date the employer

signs the form, whichever is later.

(This must be within 91 days after

group coverage terminates.)

Upon receipt of the form, The Hartford

will verify eligibility and send coverage

information, premium rates and

application form(s). You must

complete and return the application

with the required premium to the

address provided, within the time

period specified on the application.

It’s very important that you act

quickly so you don’t miss this

opportunity!

Yes! You must return the completed

Notice of Conversion form to

The Hartford within 31 days after

group life insurance terminates. If

you receive the Notice of Conversion

more than 15, but less than 90 days

after the event, you will have 45 days

from the day you receive Notice to

convert. If Notice is not given, you

will have 90 days to convert.

Upon receipt of the form, The Hartford

will verify eligibility and send coverage

information, premium rates and

application form(s). You must

complete and return the application

with the required premium to the

address provided, within the time

period specified on the application.

It’s very important that you act

quickly so you don’t miss this

opportunity!

Must you act within

certain time frames to

be eligible for this

coverage?

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