Hartford Investor

[+] Feedback

Change Base Text Size

Annuities

 

Log in or register for Annuity Contract Access Access now

Annuity Contract Access enables you to:

  • Make additional premium payments to your annuity contract
  • Check on your current contract value
  • Request sub-account transfers online (subject to certain restrictions)
  • Obtain current and historical transaction and accumulation unit value summaries
  • Download frequently used service forms for printing, completing and mailing to The Hartford
  • View and print current and previous quarterly statements
  • View historical performance and accumulation unit values specific to your account
  • Verify and change your home and email address and your personal identification number (PIN)

Frequently Asked Questions

Account Information
How do I look up my account value?

Log in to Annuity Contract Access from the Account Login section of our home page. You will find your account value displayed on the Contract Detail tab.

Where do I find the daily price and historical performance of my investment options?

To find specific performance and prices for the product that you own, log in to Annuity Contract Access and select the Performance and Price tab. Performance and prices for our products can be found by selecting the appropriate product tab on our home page.

Where can I find the most recent copy of a product prospectus?

To view your most recent annuity prospectus:

  1. Go to the main Annuities page.
  2. Select the annuity you own from the "Select an Annuity Product" menu on the left side of the page.
  3. Click on the Prospectus & Literature tab.
Is my quarterly statement of account available online?

Yes, your most recent statements as well as historical statements may be viewed and printed. Log in to your contract, then click on “Online Documents.”

 

Account Updates
Can I change my address online?

Yes, addresses can be updated online. Log in to Annuity Contract Access, then select “Address Change” under the “Process a Transaction” dropdown menu on the top right-hand side of the Contract Detail tab.

How do I change my beneficiary?

To update beneficiary information, you will need to complete and mail in the Beneficiary Change Request Form.

 

Processing Transactions
How do I process an investment choice transfer on my annuity contract?

Log in to Annuity Contract Access, and you will find menu selections for transfers and reallocations located under the Process a Transaction dropdown.

Why can't I see the investment choice transfer I processed online in my transaction history?

The Investment Choice Transfer that you submitted will not be viewable until the following business day after the transaction was priced.

Can I make an additional contribution to my annuity contract online?

To make an additional contribution:

  1. Log in to Annuity Contract Access.
  2. Select the "Additional Contribution" under the “Process a Transaction” dropdown menu on the top right-hand side of the Contract Detail tab.
  3. Select a method, enter a dollar amount, choose the investment choice for the additional contribution, and enter the bank account from which the money will be transferred. (Subject to a maximum limit without prior approval).
Can I change my future contribution allocations online?

Future ontribution allocations can be updated online. Log in to Annuity Contract Access and select “Future Contribution Allocations” under the “Process a Transaction” dropdown menu.

How can I withdraw money from my annuity?

To ensure that your request is in good order and processed in a timely fashion, please complete and  send in your request on the appropriate Surrender Request form. Original signatures are needed and faxes are not accepted to process a surrender request.

How long will it take for my surrender request to be processed?

Surrenders are processed the day we receive the correctly completed instructions and sent within 5-7 business days of the request.

Do I need signature guarantee for my surrender request?

A signature guarantee will expedite your request. To obtain a signature guarantee, contact a member firm of the Financial Industry Regulatory Authority (FINRA), your registered representative, or a U.S. commercial bank.

 

Death Claims

 

   General
How do I report a death?

Contact the Annuity Benefits Claim Department at the number below.

  • Monday-Thursday: 8 a.m.-7 p.m. ET
  • Friday: 9:15 a.m.-6 p.m. ET

Clients: Call 1-800-862-6668

  1. Say or press 5 for beneficiary claims.
  2. Say or enter the contract number (if known).
  3. Press 1 to report a death.

Investment Professionals: Call 1-800-862-7155

  1. Say or press 5 for death benefit information.
  2. Say or enter the client's contract number (if known).
  3. Press 1 to report a death.
As a beneficiary, how do I obtain specific contract information?

To obtain contract specific information, you must fax a copy of the death certificate to 1-860-380-3280 referencing the deceased client's contract number(s). Other important information to know prior to calling includes:

  • Name of the deceased
  • Deceased client's annuity contract number(s), Social Security Number and date of death
  • The names of each beneficiary and the addresses to which claim kits should be mailed. Email addresses will be accepted in addition to the regular mailing addresses for each beneficiary.
What information can I expect to receive from the Hartford?
  1. The Hartford will mail a claim kit to each beneficiary. The claim kit includes:
    • Cover letter which provides general information in regards to the deceased's annuity contract.
    • Claim form for each option available to the beneficiary
  2. We will also mail a status letter to each beneficiary on a monthly basis until the claim is processed.
What types of documents are required to process an annuity claim?
  • One original, certified copy of the death certificate with the cause and manner of death
  • A completed claim form for the option chosen; if there is more than one beneficiary, a separate claim form for each beneficiary is required
  • If the beneficiary's name has changed, supporting documentation showing the name change (such as a marriage certificate, divorce decree or other court document)
  • For non-resident aliens, a completed W-8BEN, Certificate of Foreign Status of Beneficial Owner for U.S. Withholding
  • Any state required forms

Additional documents may be required if the beneficiary is a trust, estate, minor, custodian, etc. Please see below.

 

   Required Forms
What forms are required if the beneficiary is a trust?

A Trustee Certification Form or the title, signature and trustee pages of the trust is required in addition to the trust's Tax Identification Number (TIN). The trust's TIN cannot be the deceased client's social security number. For a Grantor Trust, the grantor's Social Security number is required.

What forms are required if the beneficiary is an estate?

Letters of Testamentary or other court documentation naming an executor/personal representative are required in addition to the estate's Tax Identification Number (TIN). The estate's TIN cannot be the deceased client's social security number.

What forms are required if the beneficiary is a minor?

Guardianship paperwork may be required or we may accept the Uniform Transfers to Minors Act (UTMA) form dependent upon the death benefit amount payable to the minor. Each state may have a different dollar amount requirement.

What forms are required if the contract is owned by a custodian or non-natural owner?

A corporate resolution is required.

 

   Death Benefit Proceeds
When is the death benefit calculated?

The death benefit is calculated on all contracts associated with the client on the day we receive the certified death certificate.

Note: Once the death benefit is calculated, the benefit amount remains invested and is subject to market fluctuation until complete settlement instructions are received. Contractual and prospectus provisions will be the sole and final determinant of all death benefits.

Is there a required amount that I need to withdraw from this contract?

Depending on the age of the deceased and the plan type (i.e. qualified or non-qualified), there may be a required amount, known as a Required Minimum Distribution, to withdraw from the annuity contract. Please contact the Annuity Benefits Claim Department for further information.

When will I receive my proceeds?

On the date we receive completed claim instructions from the beneficiary, we will compute the Death Benefit amount to be paid out or applied to a selected Annuity Payout Option.

  • Regular Mail: 5-7 business days
  • Express Mail: 1-2 business days
  • Electronic Funds Transfer (EFT): 2-3 business days
  • Federal Wire: 1-2 business days
What are my claim options?

You may choose to:

Note: The claim options available depend on the relationship of beneficiary to contract owner, plan type (i.e. qualified or non-qualified) and elapsed time from date of passing. Please contact the Annuity Benefits Claim Department for further information.



Stay Invested (available to spouses only)
If you don't need money immediately, you can keep the contract (spousal contract continuation). Or, if the assets are qualified assets, you may transfer or roll them over into a new or existing qualified investment vehicle in your name.

Available Options:

  • Spousal Contract Continuation
  • Transfer the Assets

Advantages of staying invested:

  • Flexibility to stay invested, withdraw assets as needed, even pass on to beneficiaries.
  • No current income taxes or sales charges until you withdraw
  • Assets continue to enjoy tax-deferred growth potential
  • You can name new beneficiary

Disadvantages:

  • Not a good choice if you need all the assets immediately


Return to top


Withdraw the Assets

Available options:

  • If you need money now, we can send you a lump sum payment in a single check.
  • You may optionally choose the Safe Haven Program 

Advantages for Lump Sum:

  • Gain immediate access to funds

Disadvantages for Lump Sum:

  • By terminating the annuity you may incur ordinary income taxes on as much as the entire value
  • Assets no longer accumulate tax-deferred

Return to top


Wait up to five years from the owner's date of death to withdraw

Available option:

  • Five Year Deferral – Withdraw only what you need over the five-year period beginning from the owner's death while your remaining assets stay invested.

Advantages:

  • Withdrawing money slowly can help minimize annual income taxes
  • Offers continued opportunity for market growth for assets left in the account

Disadvantages:

  • All of the money must be withdrawn by the end of the fifth year from the date of passing
  • Subject to potential market loss


Return to top


Receive an income
You may withdraw minimum payments over your lifetime, based on IRS life expectancy tables. (Note that payments must begin within one year of date of death.)

Available options:

  • Life Expectancy
  • Single Life Expectancy

Advantages:

  • You can increase payments, up to the entire balance
  • Income taxes are spread over many years
  • Assets that remain in your annuity continue to enjoy tax-deferred growth potential

Disadvantages:

  • Payments are not guaranteed by The Hartford
  • You could outlive your money
  • Subject to potential market loss


Return to top


Receive guaranteed income (annuitization)
Annuity payout options can provide an income over a specific period. In fact, The Hartford can guarantee income over your lifetime. Guarantees are based on the claims-paying ability of the issuing company and do not apply to the investment performance or safety of the underlying funds. (Note that payment must begin by the end of the year following the original owner's death.)

Available income payment options:

  • Life Annuity – Provides income for as long as you live
  • Period Certain – Provides payments for a specified period, up to your life expectancy
  • Life Annuity with Period Certain – Provides payments for as long as you live, or a minimum period, which ever is greater.
  • Life Annuity with Refund – Provides income for as long as you live with the guarantee that if you do not receive the full contract value your beneficiary is entitled to the remaining value.

Advantages:

  • Guaranteed payments include an income option that you cannot outlive
  • Income taxes are spread over many years
  • Assets in your annuity continue to enjoy tax-deferred growth potential

Disadvantages:

  • Not all contracts include all the guaranteed income options
  • Depending on the option, you may not recoup your investment, or you could outlive your money


Return to top




 

 

This information is written in connection with the promotion or marketing of the matter(s) 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, you should consult your own tax or legal counsel for advice.

 

 

108588

Updated 02/14/2012
"The Hartford" is The Hartford Financial Services Group, Inc. and its subsidiaries.