The Hartford Financial Services Group Inc. is offering a life insurance policy with credited interest rates tied to the S&P 500 equity index, The Associated Press reports.
The policy will be available with the company’s chronic illness accelerated benefit rider and allow policyholders to choose how much of their premiums to allocate between a fixed account and an index account, which will guarantee an annual interest-rate floor of zero percent and a maximum growth rate of 12 percent.
The fixed account will provide a minimum 2 percent interest crediting rate, the company said.
Shares fell 63 cents to $21.88 in afternoon trading.
