The Hartford Life Insurance Review
- Explore the life insurance products offered by The Hartford. Discover the pros and cons of choosing the insurer and find out what people say about it online.
The Insurance Industry Institute reports that The Hartford is one of the top writers of insurance in terms of premiums written. As one of the largest insurers in the United States, The Hartford may be a good starting point when shopping for insurance. By exploring the pros and cons of buying from the company and exploring its product lineup, you can decide whether to choose The Hartford as your life insurance provider.
About The Hartford
In 1810, a group of investors led by Nathaniel Terry founded The Hartford to provide fire insurance for consumers and businesses. Early on, The Hartford became interwoven with American history. Abraham Lincoln chose the company as the insurer for the only home he ever owned, and Babe Ruth chose The Hartford as the provider for disability insurance in 1920.
Today, the company continues to operate from its headquarters in Hartford, Connecticut, and employs 18,500 people in the United States. Through its Human Achievement Programs, The Hartford encourages employees to volunteer in their local communities. The company sponsors many nationwide outreaches, including the Junior Fire Marshal fire safety program for kids and the Opioid Aware program that spreads awareness about opioid addiction.
What Life Insurance Products Does The Hartford Offer?
Commercial insurance accounts for the largest share of The Hartford's revenue from premiums. Its offerings for small, medium and large businesses include workers compensation, property, general liability, professional liability and auto policies. For consumers, the company offers automobile, RV, classic car, homeowners, renters, condo, flood and umbrella insurance.
The Hartford also provides employee benefits for employers. As of 2022, the company's only life insurance coverage was available through the employee benefits division. The product is voluntary life insurance, a type of life insurance policy sponsored by an employer and made available to employees. With this product, you can obtain a death benefit of $25,000 to $250,000 for yourself and your spouse. In addition, you can purchase policies for your children in amounts up to $15,000.
The Pros and Cons of the Hartford
Before choosing The Hartford as your life insurance provider, you need to be aware of the benefits and drawbacks of doing business with the company.
Benefits of The Hartford Life Insurance
With voluntary life insurance from The Hartford, you can usually obtain a maximum amount of coverage with guaranteed acceptance. As long as you purchase a policy with a death benefit below the maximum cap, you generally won't have to undergo a medical exam or fill out a health questionnaire to obtain coverage. The life insurance coverage is portable and convertible, so you can transfer it to another employer or turn it into an individual policy if you change jobs or leave your employer.
Typically, voluntary life insurance policies from The Hartford include the following benefits and added services:
- Living benefit option: Allows you to cash in part of your death benefit if you have a terminal illness or certain chronic medical conditions
- Accidental death and dismemberment rider: Increases the size of your death benefit if you lose a limb or die due to an accident
- Funeral planning services: Assists your beneficiaries with planning your funeral and negotiates costs to help them save money on your final expenses
- Counseling services: Connects your beneficiaries with grief counselors in the event of your death
- Will services: Refers you to a licensed attorney who will help you prepare a will online
- Travel assistance: Helps you receive medical care when you're more than 100 miles away from home
- ID theft protection: Gives you access to caseworkers who can assist you with resolving issues that arise if you become a victim of identity theft
A+ ratings from both A.M Best and S&P indicate that The Hartford is financially strong and likely to continue to operate for years to come. As a result, you can purchase a policy with increased confidence. The company also has an A+ rating from the Better Business Bureau, indicating a high level of customer satisfaction.
Drawbacks of The Hartford Life Insurance
The biggest drawback of the life insurance offerings from The Hartford is that you can't apply for a policy on your own through a licensed agent. You can only obtain a policy if your employer participates in the company's employee benefits program and elects to include voluntary life insurance coverage in your benefits package.
If your employer does offer The Hartford voluntary life insurance, you may face limitations on the maximum death benefit that you can apply for. In some cases, your employer may cap the amount of coverage available below the $250,000 maximum that the insurer allows. Some companies also attach the maximum face value to salary levels of employees earning less so they must buy policies with smaller death benefits.
The Hartford Reviews: What People Are Saying
Many online reviews describe The Hartford's customer service representatives in glowing terms, stating that they handled customers’ concerns fairly and with compassion. Reviewers also frequently say that the customer service department was simple to contact and followed up quickly to resolve issues that couldn't be remedied with just one phone call or email. Most negative online reviews describe frustrations with the speed of claims processing and tend to mention worker's compensation and disability insurance policies, which tend to have more involved claims investigations processes than life insurance.
Is a The Hartford Life Insurance Policy Right for You?
If your employer offers voluntary life insurance through The Hartford, a policy may provide an affordable way for you to protect your family from financial hardship. Often, employers cover all or some of the premiums for voluntary life insurance, reducing the cost for employees. Because acceptance is usually guaranteed, insurance from The Hartford may be a good option if you have a medical condition that may make it difficult for you to purchase life insurance on your own.