Personalized Paycheck Protection: Consumer Is In Control With The Hartford’s New Disability Insurance

  Personalized Paycheck Protection: Consumer Is In Control With The Hartford’s
  New Disability Insurance

Insurer launches voluntary benefit that allows consumers to tailor their
income protection to fit their unique financial needs

Business Wire

HARTFORD, Conn. -- January 8, 2013

Today The Hartford launched DisabilityFLEX^sm, voluntary group disability
insurance that allows employees to customize their income protection in three
key ways – how much money they receive, when, and for how long if they are
unable to work due to an off-the-job injury or illness.

The Hartford's research found 86 percent of consumers say it is important to
be able to customize al ...

The Hartford's research found 86 percent of consumers say it is important to
be able to customize all their benefits to fit their individual lifestyle.
(Photo: Business Wire)

The benefits provider also released research that found a majority of
consumers – 86 percent – say it is important to be able to customize all their
benefits to fit their individual lifestyle.

“Consumers today can customize everything – from music and TV to clothing and
cars, and our recent survey shows they want to customize their benefits, too,”
said Mike Fish, vice president of voluntary benefits with The Hartford.

In The Hartford’s December 2012 survey, 76 percent of consumers said it’s
important for them to design their own disability insurance instead of a
one-size-fits-all coverage chosen by their employer. Also, 82 percent of
consumers said they would likely sign up fora disability plan that allows
them the opportunity to choose the amount of their weekly payment.

With DisabilityFLEX, employees create their own income protection by making
choices about:

  *Benefit amount – How much the employee will receive as a weekly flat
    dollar amount, from $200 to $1,000;
  *Start date – When the employee begins receiving the benefit, from eight to
    30 days after a non-work-related injury or illness that is covered by the
    plan; and
  *Duration – How long the employee will receive the benefit, up to 104
    weeks.

“Like standard short-term disability insurance, DisabilityFLEX is designed to
help protect an employee’s paycheck, but there are key differences,” Fish
added. “For example, if you're disabled and not working, your benefit will not
be reduced by other income. The amount that you select is the amount that you
will receive.”

The Hartford is offering DisabilityFLEX, which is fully funded by employees,
to companies with 50 to 999 people, with a variety of incomes. Beginning in
May, the flexible coverage will be available to companies with more than 1,000
employees.

“Today, more businesses are asking their employees to pay for their disability
coverage,” Fish said. “With DisabilityFLEX, benefits managers can be confident
they are offering their employees insurance that is affordable,
understandable, and customizable.”

DisabilityFLEX joins The Hartford’s suite of voluntary products that includes
group life, standard short- and long-term disability, and accidental death &
dismemberment insurance. A leader in group life and disability insurance,^1
The Hartford also offers educational tools and resources to help employees
better understand their benefits choices and make informed decisions. For more
information, contact your Hartford sales representative.

Survey  Methodology

The Hartford developed the survey, which was conducted online by TNS Omnibus
among a national sample of 1,456 full-time U.S. workers over the age of 18 in
December 2012. The margin of error is of +/- 2.6 percent for the national
sample. TNS is a global market information company that conducts Omnibus
surveys every week.

About The Hartford

With more than 200 years of expertise, The Hartford is a leader in property
and casualty insurance, group benefits and mutual funds. The company is widely
recognized for its service excellence, sustainability practices, trust and
integrity. More information on the company and its financial performance is
available at www.thehartford.com.

The Hartford^® is The Hartford Financial Services Group, Inc. and its
subsidiaries, including issuing companies Hartford Life Insurance Company and
Hartford Life and Accident Insurance Company. Policies sold in New York are
underwritten by Hartford Life Insurance Company. The headquarters of both
companies is Simsbury, Conn.

HIG-M

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 2011 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.

1. LIMRA’s U.S. Group Disability and Life Sales Report, 2011 full-year
results; based on sales and in-force premium

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Contact:

The Hartford
Kelly J. Carter, 860-843-9420
kelly.carter@thehartford.com
or
Michelle Loxton, 860-547-7413
Michelle.loxton@thehartford.com
 
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