Safety of Hartford Annuities
The Hartford is an insurance company that offers a wide range of insurance products, including fixed and variable annuities. The safety of your annuity product is contingent on the type of annuity that it is and the continued financial strength maintained by the Hartford company.
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Types of Annuities
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Fixed annuities offer a fixed-rate of return with a principal guarantee. Variable annuities invest in mutual fund sub-accounts that fluctuate in value with no principal guarantee.
Guarantee Defined
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Unlike bank products which are insured by the FDIC, annuities are insured by the insurance company offering them. In the case of Hartford annuities, you are trusting the financial solvency of the company to pay your annuity benefits upon request.
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The Hartford History
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The Hartford has been established as a leader in the insurance industry. The company has maintained financial solvency through major disasters and international economic crises.
Third-Party Rating
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Insurance companies are rated by third-party companies to determine their financial solvency. The Hartford maintains an A rating with AM Best, Fitch and Standard & Poors.
Investment Choices
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The safety of growth of your annuity is contingent on the type of annuity it is and the investment selections you make. Additional fees are paid annually in variable annuities to provide the guarantee of "lifetime." This is an option with annuities where you can withdraw a steady income stream for the rest of your life.
Overall Safety
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The Hartford has remained an insurance company with strong financial numbers and maintains its integrity among insurance companies as being a company that takes care of its clients.
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