Group Life Insurance Portability and Conversion

1 Group Benefits from The HartfordExpertise without without simple way to compare your Group life Insurance from The hartford is valuable financial protection for you and your family. If your coverage offered through youremployer 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 achoice of converting your coverage to an individual policy and/or porting it to another Group term life policy. Portability may not be availablewith all Group life Insurance make your options decide whether Portability or Conversion is the right choice for your personal situation, you need to understand the differences.

2 We helpyou see them clearly with our side-by-side time to The hartford s Portability and Conversion options for continuing your life coverage. Then you can decide what makes sense for youand your family. For more information, contact your Benefits Administrator or call The hartford toll-free at life Insurance Portability and ConversionSide by Side Employee GuideGroup Benefits from The HartfordExpertise without without type of Insurance policy willyou receive? Group Term life Insurance :This type of policy provideslow-cost protection for a specified period of time. Thepremiums charged are lower than a Conversion policy;however, no cash value is built up from which you cantake loans or receive a cash refund if you surrender are set in five-year age bands so that they willincrease when you reach the next five-year age Whole life Insurance :This type ofpolicy may be kept in force for a person's entire lifeand pays a benefit upon death.

3 Premiums are fixedthroughout the life of the premiums for whole life policies are higherthan premiums for term Insurance , since whole lifepolicies build cash value from which you can takeloans. In addition, they include a cash surrendervalue. This means if you surrender the policy, youcan receive cash or continue your coverage withoutfurther premium payment. Your amount ofcontinued coverage would be based on how muchyour cash surrender value could state specific continuation options may you need to answer medicalquestions or have a physical examto continue coverage? there any age restrictionswhen requesting coverage?Yes. Standardly you must be under the Social SecurityNormal retirement age when applying for you also eligible to continuecoverage on your dependents?

4 Yes, if Portability for dependents is included in youremployer s policy. Please note that dependent childrencan continue coverage under the Portability provision onlyif a parent is also eligible and is electing , if your dependents have life insurancecoverage under your employer s life Insurance Portability and Conversion from The HartfordThis chart will help you understand the differences between Portability and Conversion Benefits from The HartfordExpertise without without is this available to you?You may have the option to port when your employmentterminates for any reason prior to Normal Retirement Ageor your membership in an eligible class is not available if you are entering activemilitary have the right to convert your terminatedgroup coverage to an individual Conversion policy ifyou lose all or a portion of your Group life coveragefor any coverage is ending because the policy is beingterminated, you may need to meet additionalrequirements and/or be limited in the amount ofcoverage available to convert.

5 Please see yourpolicy for is this available for yourdependents?When available in the policy, dependents may port theirterminating Group life coverage if your employmentterminates for any reason prior to you reaching NormalRetirement Age or your membership in an eligible classends. They can also port in the event of your death, orwhen they no longer meet the definition of a , children who are losing coverage because theyhave reached the limiting age stated in the policy are noteligible to is not available if the dependent is enteringactive military is available to your covereddependents if they are losing all or a portion of theircoverage for any coverage is ending because the policy is beingterminated, your dependent may need to meetadditional requirements and/or be limited in theamount of coverage available to convert.

6 Pleasesee your policy for specific that some or all of your oryour dependents Group lifeinsurance coverage is ending,what amount can be continued? Portability may apply to all or a portion of your and yourdependents life Insurance coverage. You may continue50%, 75% or 100% of the amount of Insurance that isending, if the Portability benefit applies to that note, however, that the amount you can continueis generally subject to the following maximums: Employee - $250,000 Spouse - $50,000 Children - $10,000 Please see your Benefit Administrator for the amounteligible for amount varies depending on the reasoncoverage is ending. Under some circumstances,the full amount of terminating coverage can beconverted.

7 Under others, the amount may see your policy for specific Benefits from The HartfordExpertise without without there a minimum amount thatcan be continued?Employee and Spouse - $5, the rates for the new coveragediffer from the Group lifeinsurance rates throughyouremployer?Yes. You will be charged Group rates based on your see your employer for your Portability may change based on the experience of the entiregroup of people who elect Portability This is a whole life policy that includes cashvalue, while the coverage from your employerwas Group term coverage. Rates for Conversioncoverage are generally higher than the grouprates charged through your a state specific continuation option wasselected the rates may be lower than the ratesfor whole life your policy includes Waiver ofPremium, can you apply for bothWaiver of Premium and this optionat the same time?

8 No, Waiver of Premium is not available if you If you are disabled and apply for Waiver ofPremium, you should elect Conversion whenyour Group coverage ends. Then, if you are laterapproved for Waiver of Premium, yourConversion policy will be surrendered and yourConversion premiums will be you are covered, will yourcoverage amount remain thesame?No, your coverage amount will be reduced by 75% whenyou attain age No automatic reductions long can coverage continue?Coverage can continue until the first of these occurs: You reach age 75. You enter active full-time duty in the armed forcesof any country. (This does not include active dutytraining for two months or less.)

9 The last day for which you paid will also terminate if the Group policy for the entiregroup of people who elect Portability can continue with premium paymentuntil Scheduled Maturity Date (age 120), atwhich time the cash surrender value is paid tothe insured. As an option to receiving the cashsurrender value, coverage can continue withoutfurther premium payments beyond age does not terminate if you enter activemilitary service, and Conversion coverage doesnot include a war Benefits from The HartfordExpertise without without you want to change yourcoverage amount, is that optionavailable?Once coverage is in force: You can decrease the coverage amount to 75% or50% of the original amount.

10 Increases are not your coverage is in force: After seven years, you can decreasethe face amount (no lower than thestated minimum in the policy) Increases are not any additional benefitsavailable?An Accelerated Benefit is available to employees if it isincluded under the employer s Group life policy. This benefitallows an acceleration of a portion of your life insurancebenefit if you become terminally ill. (The Accelerated Benefitdoes not apply to dependents.)Receipt of accelerated benefits may be taxable. Seekassistance from your personal tax advisor for additional benefits are not included,loans from your cash value may be there any exclusions?Yes. Standardly, a benefit will not be paid if death due tosuicide occurs during the first two years of coverage underthe Portability policy.