What makes Hartford's Extraordinary Whole Life Insurance unique?
Hartford's Extraordinary Whole Life Insurance combines permanent protection with a guaranteed cash‑value buildup, level premiums for life, and optional riders that can enhance benefits such as accelerated death benefits or a paid‑up additions rider. The policy is designed for policyholders who want lifelong coverage without the uncertainty of premium increases, while also building a tax‑deferred savings component that can be accessed through policy loans or withdrawals.
More from this site
Keep reading the latest coverage
Key Features and Benefits
The plan includes a fixed death benefit, a guaranteed minimum cash value, and the ability to add paid‑up additions that increase both the death benefit and cash value. Premiums are calculated at issue and remain unchanged, which simplifies budgeting. Optional riders, like a chronic illness rider, can provide early access to funds if the insured meets qualifying conditions.
How Cash Value Accumulates
Cash value grows at a rate set by the insurer's dividend scale, which historically reflects Hartford's overall financial performance. While dividends are not guaranteed, they are typically paid annually and can be used to purchase additional coverage, reduce premiums, or be taken as cash. Policyholders can also borrow against the cash value, but outstanding loans reduce the death benefit until repaid.
Comparing Core Attributes
| Attribute | Hartford Extraordinary | Typical Whole Life |
|---|---|---|
| Premium Structure | Level for life | Often level, but may vary by carrier |
| Cash‑Value Guarantee | Yes, with dividend potential | Yes, but dividend policies differ |
| Rider Flexibility | Multiple optional riders | Limited or carrier‑specific |
| Policy Loans | Allowed, interest applies | Allowed, similar terms |
What to Verify Before Buying
Check the following: the current dividend scale published by Hartford, the cost and underwriting requirements of any desired riders, the policy's non‑forfeiture options (cash surrender, reduced paid‑up, extended term), and the insurer's financial strength ratings from agencies like A.M. Best. Also, compare the projected cash‑value schedule against your long‑term savings goals to ensure the policy aligns with your financial plan.
How to Purchase
Prospective buyers can start by requesting a quote through Hartford's website or an authorized agent. The application will require personal and health information, and a medical exam may be required depending on the coverage amount. After underwriting approval, the policy is issued and the first premium is due at the start of the policy year.