Unit Linked Annuity Terms by chenmeixiu

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									Hartford Platinum –terms and conditions




Hartford Platinum
                         Terms and Conditions




20964794                                        1
Hartford Platinum –terms and conditions
                                                        Financial Adviser
Glossary of terms                                       A financial intermediary registered with
                                                        the Financial Services Authority to conduct
Additional Amount Invested                              investment business and holding an agency
The amount used to buy Units following payment          with Hartford Life Limited.
of an Additional Payment.
                                                        Fund
Additional Payment                                      Any of the investment funds established by
Any payment received by us for investing in the         Hartford Life Limited and available to the
Plan after the Initial Payment.                         Plan. A leaflet detailing the Funds
                                                        available is available on request and on the
Amount Invested                                         website at www.thehartford.co.uk
Initial or Additional Amount Invested.
                                                        Fund Expenses
Annual Management Charge                                The expenses and charges associated with
The charge we make to administer the Plan.              each of the particular Funds you select.

Authorised Payment                                      Funded Initial Commission
                                                        Commission paid to the Financial Adviser
A payment of benefits or a transfer payment that        that is funded by monthly deductions
                                                        from the plan over a period of 72 months.
does not attract unauthorised payment charges
under the Finance Act 2004.                             Initial Amount Invested
                                                        The amount shown in the Plan Schedule used
Benefit                                                 to buy Units following payment of the Initial
Any money that can be paid out under the Plan.          Payment.
                                                        Initial Payment
Collective Investment Vehicle                           The payment received by us not later than the
A legal entity which pools investors' money in a        Commencement Date as shown in the Plan
common fund of investments. The investors can           Schedule
redeem some or all of their investments in the
common fund on request. A unit trust, an open-          Member
ended     investment    company    (OEIC),    an        The Member of the Scheme in respect of whom
undertaking for the collective investment of            the Plan has been purchased and whose name is
transferable securities (UCITS) and a SICAV             shown next to this term in the Plan Schedule.
pursuant to the Luxembourg Law on collective
investment undertakings, are all examples of            Named Dependant
collective investment vehicles.                         The person, if any, whose name is shown next to
                                                        this term in the Plan Schedule.
Commencement Date
The date shown in the Plan Schedule.                    Partial Withdrawal
                                                        Withdrawal from the Plan of an amount less
Date of Receipt                                         than the full Plan Value.
The date of receipt at our Customer Service
Centre, except that if receipt occurs on a day other    Payment
than a business day it will mean the following          Initial or Additional Payment.
business day and where receipt is after 4pm it will
mean the following business day. We may change
the cut-off to a time other than 4pm in the future.     Pensions Business
If we have occasion to change the cut off time,         As defined in Section 431 of the Income and
where practicable, we will advise you of the            Corporation Taxes Act 1988.
change. See the Queries section for further details
about our Customer Service Centre.                      Plan
                                                        These terms and conditions including the other
Death
The death of the Member or, where there is a            documents described in the section entitled
Named Dependant, the death of the last of them to       “Nature of the Plan” and any amendments made
die.                                                    in accordance with these terms and conditions.

Due Proof of Death                                      Plan Schedule
An original death certificate, an order of a court of   The separate schedule issued with these terms
common jurisdiction, or any other proof                 and conditions, as amended or replaced from
acceptable to us.                                       time to time.
Early Withdrawal Charge                                 Plan Value
The charge imposed in certain circumstances if          The aggregate of all the Policy Values
you choose to withdraw money from the Plan.
                                                        Plan Year
                                                        The 12-month period starting on the
                                                        Commencement Date and each anniversary of
                                                        that date.

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Hartford Platinum –terms and conditions
Policy                                                   Valuation Day
Has the meaning described in the section entitled        This is a business day on which Prices of Units of
“The Policies in the Plan”.                              the Funds are determined and transactions, as
                                                         set out in these terms and conditions, relating to
Policy Statement                                         the Plan take place. Normally every business day
The separate statement, in respect of each Policy in     will be a Valuation Day.
the Plan, issued with these terms and conditions, as
amended or replaced from time to time.
Policy Value
The value of a Policy from time to time based on the
number and price of the Units allocated to that
Policy.
Price
The creation and cancellation price of Units,
determined by us for each Fund on each Valuation
Day.
Rebalancing
Pre-defined programme of switches taking place on
a scheduled frequency. It only applies with
specific combinations of Funds and specific
proportions of those Funds.

Rebalancing Date
Rebalancing Dates occur on the scheduled
frequency of the Rebalancing from the plan
commencement date. For example, if you select
annual Rebalancing, the first Rebalancing Date is
the plan anniversary a year following the selection
of Rebalancing with additional Rebalancing Dates
each year thereafter.

Registered Pension Scheme
A pension scheme that has either been registered by
HM Revenue & Customs (HMRC) or a pension
arrangement that was in existence on 5 April 2006
and is treated as being a Registered Pension Scheme
in accordance with the Schedule 36 Finance Act
2004.

Scheme
The Harford Life Limited Personal Pension Plan
Scheme Administrator
The Scheme Administrator for the time being of the
Scheme, for the purposes of the Finance Act 2004.
Scheme Rules
The documents establishing the Scheme and the rules
as added to, replaced or amended from time to time.
Selection Restrictions
As defined in the terms and conditions, Section 1.10
and 4.1 and Section 5 of the addendums

Statutory Requirements
The requirements of HMRC and other applicable
statutory requirements that relate to the Scheme.
Trustee
The trustee for the time being of the plan
Unit
A notional share of each Fund used to calculate
Policy Values. All Units of a Fund are of equal value.


20964794                                                                                                 3
Hartford Platinum –terms and conditions
                                                                 Pensions may require us to change the Scheme Rules or the
Introduction                                                     Plan to meet with any changes to pension law or regulation.
The Hartford Life Limited Personal Pension Plan (the             The Scheme Administrator will tell the Trustee and you of
                                                                 any changes which are needed to meet such requirements, or
"Scheme") is operated under a trust deed and Scheme Rules.       for any other reason.
The Scheme is a Registered Pension Scheme. This means
that the Plan has the tax advantages enjoyed by Registered       The Plan consists of one arrangement. Any contributions,
Pension Schemes.                                                 transfer values and minimum contributions received in
                                                                 accordance with the Scheme Rules will be paid in the form
                                                                 of a premium under the Plan.
An 'Appropriate Scheme Certificate' has been granted by
HMRC. This means that the plan can accept transfer values
in respect of contracting out of the State Second Pension.       We may amend or reissue the Plan Schedule and Policy
                                                                 Statement(s) in the future if some details change.

As at the date of issue of the Plan, Hartford Life Limited is    We may make changes to the terms of this Plan because of
                                                                 changes in law or regulation (including HMRC practice)
both Trustee and Scheme Administrator of the Scheme.             which affect:
                                                                 •   the terms of the Plan;
Terms and Conditions                                             •   the investment company's or our freedom to invest;
These terms and conditions are about the contract of             •   the ability to change investments;
insurance taken out by the Trustee on behalf of the Scheme
                                                                 •   the way that a company transacting pensions or life
Administrator in accordance with your instruction.
                                                                     assurance business or re-assuring the same, is taxed.
                                                                 Despite any other provisions of the Plan, we may make any
The Plan represents your assets under the Scheme which are       changes to the Plan's terms that we believe it is reasonable to
invested in our range of investment funds.                       do so. We will give you and the Scheme Administrator 30
                                                                 days' notice of any change.
Transfer Values relating to contract out of the State Second     The charges on the Plan are explained in section 1 and
Pension will be separately identifiable.                         section 3.5 and, if either of the Hartford Guaranteed
                                                                 Retirement Income Plan options apply, in respect of a Policy,
                                                                 then in the provisions of the respective Guaranteed
                                                                 Retirement Income Plan addendum.
Nature of the Plan
These terms and conditions are accompanied by, and refer         We are authorised by the Scheme Administrator to receive
to, information shown on the Plan Schedule, the Policy           and act on instructions from you on a range of matters to do
Statement, the addendums (where relevant) and any                with the operation of the Plan, including but not limited to
additional schedules or endorsements. It is important that       selection of Funds under section 1.10.
you read this document carefully and in its entirety in
conjunction with the Plan Schedule, Policy Statement/s,
the addendums (where relevant) and Selection Restrictions        The Policies in the Plan
to ensure you understand what Benefits are provided, what        The Plan is made up of one or more separate parts, as
events may affect these Benefits and what options are            allocated by us at our discretion. We call each part a Policy.
available. The Plan is a legal contract made between us and      Each Policy has a different Policy number as shown on the
the Trustee on behalf of the Scheme Administrator. The           corresponding Policy Statement. These terms and
following documents constitute the Plan:-                        conditions explain in detail the workings of the Plan and
     • these terms and conditions, as amended by any             apply to each Policy separately.
          endorsements;                                          The terms and conditions refer to monetary amounts,
     • the Plan Schedule                                         payments, values and benefits in relation to the Plan.
     • the Policy Statement/s;
     • if the Hartford Guaranteed Retirement Income Plan
          without dependent continuation option is selected in
          relation to a Policy, then Addendum 1 but only in      Meaning of words
          relation to that Policy;                               Words in these terms and conditions that are defined in the
     • if the Hartford Guaranteed Retirement Income Plan         Glossary of Terms begin with a capital letter.
          with dependent continuation option is selected in
          relation to a Policy, then Addendum 2 but only in      The words "us"," "we" or "our" used in these terms and
          relation to that Policy.                               conditions refer to Hartford Life Limited. The words “you”
The Policy Statement of each Policy will show whether the        and “your” refer to the Member or the Member’s personal
Hartford Guaranteed Retirement Income Plan applies for that      representative.
Policy, and if so, whether it is the Without Dependent
Continuation Option or the With Dependent Continuation
Option.
If there is any inconsistency between the Scheme Rules and
the Plan, the Scheme Rules prevail.            The Scheme
Administrator can provide a copy of the Scheme Rules and a
summary of these Scheme Rules are provided with your
policy documents. HMRC and the Department for Work and


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20964794
Hartford Platinum –terms and conditions

Queries
If the you have any queries please contact the Financial
Adviser or our Customer Service Centre by telephone on
0800      028      7272      or      by      e-mail   at
customer.service@thehartford.co.uk. If preferred you can
write to:

                 Customer Service Team
                      The Hartford
                       Level 29,
                  One Canada Square
                     Canary Wharf,
                   London E14 5AA

Contents
Section 1 - Funds and Unit Prices
Section 2 - Payments into the Plan
Section 3 - Payment of Benefits
Section 4 - Switching between Funds
Section 5 - General conditions
Addendum 1 - applicable to the Guaranteed
Retirement Income Plan (without dependant
continuation)
Addendum 2 - applicable to the Guaranteed
Retirement Income Plan (with dependant
continuation)




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20964794
Hartford Platinum –terms and conditions

                                                                    1.4   Fund Expenses
 1 Funds and Unit Prices                                                  The Fund Expenses are the charges associated with,
                                                                          and which vary with, each of the particular Funds
1.1        Introduction                                                   selected. They include the normal charges levied within
           We maintain Funds, each of which is divided into Units         any Collective Investment Vehicle(s) in which the Fund
           of equal value. Some of these Units are allocated to           invests plus operating expenses as described in section
           each Policy within the Plan and used to determine the          1.7 and any additional amounts we may charge. In
           value of Benefits under the Plan. You do not, however,         addition, we may receive portions of the normal
           have any direct ownership rights to these Units or the         charges levied within any Collective Investment
           underlying assets of the Fund.                                 Vehicle(s) in which the Fund invests. The rate of Fund
                                                                          Expenses varies by Fund and may change over time.
           Each Fund invests in assets with the aim of increasing         The current Fund Expenses are available on request.
           the value of the Fund and thereby the price of its
           Units. The assets in the Funds may be managed by us            The Fund Expenses are in addition to the Annual
           or we may delegate management to third-party fund              Management Charge and adviser commission.
           managers. The Funds may only invest in assets which
           are permitted by rules made under the Financial          1.5   Funded             Initial         Commission
           Services and Markets Act 2000 or any replacement of
           that Act.                                                      Charge
                                                                          Funded Initial Commission is commission payable to
1.2    Allocation Charges                                                 your Financial Adviser that is funded by an ongoing
       Reduced allocation initial commission is commission                monthly deduction from the plan for a fixed period.
       payable to your Financial Adviser that is funded by a              If you request that we pay your Financial Adviser
       deduction from the plan before your Payment is                     Funded Initial Commission, this will be funded by a
       allocated to units.                                                charge made monthly and applied for a fixed period.
                                                                          Details of the charge are shown on the Policy
       If you request us to pay reduced allocation initial                Statement.
       commission to your Financial Adviser, the Amount                   An Early Withdrawal Charge equivalent to the total
       Invested may be lower than the Payment received by us.             of the remaining amount of the Funded Initial
       Each Policy Statement indicates where this is the case             Commission charge will be made if the policy is
       in respect of the Policy and to what extent.                       cashed-in in full or in part, leaving an amount
                                                                          remaining which is less than twice the Early
1.3    Annual Charges and                           Financial             Withdrawal Charge, see Section 3.5.
       Adviser Commission
       There is an Annual Management Charge made in
                                                                    1.6   Deduction for Drawdown
       respect of the administration of the Plan and to                   Commission
       contribute to investment management expenses, for
       example to provide our internal fund range.                        Drawdown commission is commission paid to your
                                                                          Financial Adviser for advising on your retirement
                                                                          income options at the point when funds are first used
       We reserve the right to increase or decrease this charge           to provide retirement benefits.
       at any time in the future. We will notify you in advance
       giving a minimum of two months notice in the event                 If requested by you we will make a deduction from
       that we intend to increase the charges.                            one or more Policies, when Benefits are first taken
                                                                          from the Plan in respect of commission paid to your
       The reasons why we might change the charges                        Financial Adviser at this time. This charge will not
                                                                          be made at the same time as an allocation charge (see
       include:                                                           Section 1.2).
                a) changes in tax charges;
                b) our expenses are higher or lower than
                   anticipated;
                                                                    1.7 Valuing the Funds
                c) our income from Plan and Fund                          We will select a time of day at which the value of each
                                                                          asset of the Fund is determined on each Valuation Day.
                   charges is higher or lower than
                   anticipated.                                           The value of each asset will be calculated after
                                                                          deducting the normal charges of the Collective
                                                                          Investment Vehicle(s), if any, and will:
       The Annual Management Charge does not include any
       allowance for payment by us of commission to the                       a) not exceed the buying price for the
                                                                                  asset including the cost of buying;
       Financial Adviser. If you instruct us to pay your
                                                                              b) not be less than the selling price for
       Financial Adviser ongoing commission, we will                              the     asset     including      the cost   of
       deduct an additional charge in respect of this.                            selling and including the cost of any dilution
                                                                                  levies; and
       Details of the charges that will apply are recorded in                 c) reflect income from the asset at the
       the Policy Statement(s).                                                   time the Fund becomes entitled to
                                                                                  receive it to the extent that this is
                                                                                  appropriate.




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Hartford Platinum –terms and conditions
           Dilution of a Fund can occur in certain                                  underlying      assets    or    of   the    Fund
           circumstances when Units of the Fund are created or                      itself;
           cancelled and the resulting costs of buying or selling              d)   in the case of funds invested in property, the
           assets held in the underlying Fund are not fully
           reflected in the subsequent value of the underlying                      fund managers have the right to delay
           Fund. A levy, known as a dilution levy, may be                           cancellation of units for up to six months where
           charged on such creation or cancellation of Units to                     the sale would result in forced sales of
           avoid dilution of the Fund. Normally, such a levy                        underlying properties to the detriment of the
           will only arise on deals in excess of more than 3% of                    customer and other customers of that fund;
           the fund or in excess of £250,000.
                                                                               e)   regulatory restrictions; or
           We determine the value of the Fund to be the sum of                 f)   other events beyond our control.
           the value of all the assets of the Fund less appropriate            Subsequent cancellation of Units after a period of
           amounts in respect of the following:                                deferment will be calculated using the Prices for
                a) any income tax, corporation tax, tax                        the Units on the first Valuation Day after the end
                    on capital gains or any other tax or                       of the period of deferment.
                    fiscal imposition for which we may
                    be or may become liable in respect
                    of the Fund;                                          1.10 Selecting Funds
                b) the      Fund's      share     of     any     levies        You can select from a range of Funds which are
                    imposed        (including       those     imposed          maintained by us for the Plan.
                    upon us by the Financial Services
                    Compensation Scheme);                                      There is a maximum number of funds that may be
                c) any overdrafts raised in respect of                         selected for each policy.
                    the Fund together with interests;
                d) the       costs     of     valuing,      managing,          We may from time to time create new Funds and make
                    maintaining,         buying        and      selling        them available to you. A list of the available Funds
                    assets held in the Fund (including,                        will be provided to you on request.
                    in the case of land or buildings, the                      We may also merge one Fund into another Fund or
                    expenses of repair and insurance);                         split one fund into two or more separate funds.
                e) any         other       liabilities,      expenses,
                    duties, levies or other charges for                        We reserve the right to close an available Fund to any
                    which it is reasonable for us or the                       Additional Payment and to any switches into that
                    manager appointed by us to say the                         Fund.
                    Fund should take a share.                                  We also reserve the right to require you to switch all
                                                                               Units of that Fund to other available Funds. In this
                                                                               eventuality, we will give the Scheme Administrator and
1.8        Price of Units of Funds                                             you prior notice so far as is possible so that you can
           There is a Price calculated on each Valuation Day for a             tell us how to reallocate the money. If, by the date on
           Unit of each Fund by dividing the value of the Fund by              which the Fund is to be withdrawn, we have not
           the number of Units that make up the Fund.                          received the instructions, then we may substitute
                                                                               Units to the same value in any other Fund with
           Units are created or cancelled on each Valuation Day                investment objectives we believe to be similar or more
           by paying into or taking out of the Fund an amount of               conservative.
           money equal to the number of Units being created or
           cancelled multiplied by the Price of the Units of that              We may close or withdraw a                  Fund     to
           Fund prevailing on the Valuation Day.                               additional investment or completely if:
                                                                               a) we are unable to continue to invest in that Fund
1.9        Circumstances                in    which               we              because of statutory or legislative changes, or the
                                                                                  management, compliance or regulatory costs
           may    defer                 cancellation              of              associated with offering the Fund have increased
           Units                                                                  to such an extent that, in our opinion, it becomes
           We may, at our discretion, defer the cancellation of                   uneconomic for us to maintain;
           Units of any Fund, if this is, in our reasonable opinion,           b) the charges we incur for making the Fund
           necessary to avoid causing serious disadvantage to                     available are increased so that, in our opinion,
           owners of other plans who have been allocated Units                    the Fund becomes uneconomic to maintain;
           of the Fund.                                                        c) the total value of the Fund assets under
           We may also defer cancellation if we are prevented                     management is at a level at which, in our
           from selling the underlying assets of the Fund for                     opinion, it becomes uneconomic to maintain;
           reasons including, but not limited to:                              d) we consider that the Fund is no longer a
                                                                                  suitable investment for the Plan (for example, if
           a)   the     closure     of    the     London      Stock               the investment objectives or the risk
                Exchange        or     other     relevant     stock               characteristics of the Fund have materially
                exchange;                                                         changed compared to the basis on which it was
           b)   the closure of banks in London;                                   originally promoted); or
           c)   an     emergency         that     prohibits      the           e) we otherwise determine that the continued
                reasonable         disposal      of       securities              offering of the Fund is impractical or
                or     fair     valuation     of     the     Fund's               inappropriate; or
                                                                               f) if, in our opinion and that of our professional

                                                                                                                                    7
20964794
Hartford Platinum –terms and conditions
                advisers, the Fund no longer offers the              3.3   Conditions of payment
                investment potential required for us to
                reasonably offer it to customers.                          Before we calculate any Benefit, you must satisfy the
                                                                           Scheme Administrator that a Benefit has become
                                                                           payable under the Scheme Rules and that you are
1.11 Loyalty Bonus                                                         legally entitled to receive that Benefit. Before we
                                                                           pay any Benefit, you or your representative must
           A loyalty bonus will be added to the Plan at the                also submit to the Scheme Administrator, in good
           Plan anniversary at the end of the 5th Plan Year                order, all claim requirements we may reasonably
           and at the Plan anniversary at the end of the 10th              request. In the event of Death this includes Due
           Plan Year. Loyalty bonuses will be calculated on                Proof of Death.
           the Plan value at the relevant anniversary and                  Once the conditions of payment have been met, we
           additional units will be added to each Policy to                will pay the Benefit as soon as reasonably
           increase the Plan Value at that time.                           practicable.

           Any Additional Amounts Invested made in the 24
                                                                     3.4   Notification of Death
           months prior to a loyalty bonus date will not
                                                                           On notification of death, unless we hold standing
           qualify for the bonus.
                                                                           instructions from you to the contrary, we will switch
                                                                           the Units of the Plan into a Fund invested in cash or
                                                                           short-term money market instruments, based on Prices
2 Payments into the Plan                                                   for the Valuation Day on which the switch takes place.
                                                                           This switch will take place as soon as is reasonably
           Payments are deemed received by us when they                    practicable after the Date of Receipt of satisfactory
           arrive at our Customer Service Centre.                          notice of Death.
           If accepted, the Amount Invested is allocated across
           the Policies in the Plan and across the Funds in the      3.5 Withdrawal Payments
           proportions that you have selected, subject to our              You can take a Partial Withdrawal from your Policy or
           Selection Restrictions. The number of Units of each             Policies or cash-in a Policy in full, at any time subject
           selected Fund to be added to each Policy equals the             to the minimum remaining value requirement. There
           amount allocated to that Fund divided by the Price              is a minimum Partial Withdrawal amount and there
           of Units of that Fund on the Valuation Day that                 may also be a maximum number of times you may take
           applies. We will advise you of the Amount Invested,             a Partial Withdrawal from the Plan in any given period.
           the Price used for Units of each selected Fund, the             Details of the current minimum Partial Withdrawal and
           Valuation Day and the resulting number of Units                 maximum number of times are available on request.
           added to each selected Fund rounded to the nearest               Please note however that any payments made from the
           penny.
                                                                           Plan are subject to the Scheme Rules and must be
           The Initial Payment and Initial Amount Invested are             Authorised Payments.
           shown on the Plan Schedule.
           We reserve the right to restrict or prohibit                    The minimum remaining value requirement is equal to
           Additional Payments into the Plan in the future. We             twice the Early Withdrawal Charge. If we receive a
           currently accept Additional Payments of at least a              request for a Partial Withdrawal that would reduce a
           minimum amount that applies from time to time and               Policy Value to lower than twice the Early Withdrawal
           details of which is available on request.                       Charge we will cash-in the policy in full and distribute
                                                                           in accordance with your wishes.
3 Payment of Benefits                                                      If you take a Partial Withdrawal, Units are deducted
                                                                           from the Plan equal in value to the amount of the
3.1        Correspondence Requirement                                      Partial Withdrawal.
           The Benefits provided under this Plan are to                    If you cash-in the Plan in full, our liability for any
           correspond with the liabilities to provide Benefits             further Benefits will then cease. The Early Withdrawal
                                                                           Charge will be deducted from the Plan Value before
           under the Scheme to you, in so far as these liabilities         payment of any transfer value.
           are, or are intended to be, secured by the Plan. The
           Scheme Administrator will ensure that the proceeds              We will advise you of the Prices used, the Valuation
                                                                           Day, the Early Withdrawal Charge, if any, and the
           of this Plan are only used to provide Benefits to you,          number of Units deducted from each Fund to pay the
           under and in accordance with the Scheme and in a                Withdrawal amount and any Early Withdrawal Charge.
           manner consistent with the Statutory Requirements.
                                                                           No Early Withdrawal Charge will apply to Partial
3.2        Plan Value                                                      Withdrawals or a full cash-in of a Policy, except any
           The Plan Value on any Valuation Day is calculated               Early Withdrawal Charge that forms part of the
           as the number of Units allocated to the Plan in each
           Fund in which you have invested multiplied by the               instructions for commission to the Financial Adviser in
           Price of Units of that Fund on that Valuation Day,              accordance with section 1.5.
           plus any Amount Invested which has not yet been
           converted into Units.




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Hartford Platinum –terms and conditions

3.6        Postponing withdrawal                                              Funds. Any such restrictions or conditions may be
                                                                              applied to switches to or from some or all of the Funds
           requests                                                           and may include, but not be limited to:
                                                                              a) requiring a minimum time period between each
           If we defer cancellation of Units of any Fund (see                    switch;
           Funds and Unit Prices section), any Withdrawal request
           will be subject to postponement in respect of that                 b) not accepting switch requests from an agent
           Fund.                                                                 acting for or on your behalf ; or
                                                                              c) limiting the amount that may be switched between
           If such postponement occurs, we will notify you of the                the Funds at any one time.
           terms of the postponement as soon as reasonably
           practicable.                                                       Such restrictions or conditions may be applied in any
                                                                              manner reasonably designed to prevent any use of
                                                                              switching rights which we consider to be to the
3.7 Protected Rights                                                          disadvantage of us or to other plan holders. We may
                                                                              also restrict or terminate the right to switch if we
           Benefits from a protected rights Policy cannot be                  determine, in our sole discretion, that you have
           taken before your 50th birthday (55th birthday with                engaged in a pattern of Fund switches that is
           effect from 6 April 2010). If the chosen retirement                disadvantageous or potentially harmful to us or to
           age for the rest of the Plan is after age 50 (55 with              other plan holders.
           effect from 6 April 2010), that age will also be used
           as the chosen retirement age under the protected             4.2   Rebalancing
           rights Policy.                                                     If Policy Rebalancing applies, we will carry out a
                                                                              switch on or as close as reasonably practicable to the
           There are restrictions on the type of Benefits that can            Rebalancing Date of the Plan. The switch will be
           be provided by protected rights and this Plan will                 based on Prices for the Valuation Day on which the
           comply with applicable legislation in force at the                 switch takes place. After each of these switches, the
                                                                              proportion to which each of the Funds is selected will
           time. More information is available from a Financial               be the same as the proportion to which they were
           Adviser or Hartford Life Limited.                                  selected on the day that Rebalancing was applied to
                                                                              the Policy. We will advise you of the Prices used, the
                                                                              Valuation Day and the number of Units added to or
                                                                              deducted from each Fund. This switch does not count
4 Switching between funds                                                     towards the limit of the number of switches allowed
                                                                              each Plan Year.
           You can switch some or all of the Units of a particular
           Fund (or Funds) currently allocated to your Plan for
           Units of one (or more) other Funds in the proportions        5 General Conditions
           you tell us. Your instruction to switch must be made in
           a manner acceptable to us and you must specify which         5.1   When the Plan Starts
           Policy or Policies within the Plan the instruction relates         The Plan starts on the Commencement Date shown
           to. You can only switch Units within Policies. It is not           in the Plan Schedule.
           possible to switch Units from one Policy to another. We
           will then carry out this switch as soon as reasonably        5.2   Money Laundering
           practicable based on Prices for the Valuation Day on               We may ask for proof of identity in line with
           which the switch takes place.                                      legislation and regulations designed to prevent
                                                                              money laundering. If we do not receive proof we
           Units will be deducted from the existing Funds and a               consider satisfactory, we may cancel the Plan or
                                                                              refuse to accept Payments or pay Benefits. The
           number of Units of equivalent value will be added to               Valuation Day used to add or deduct Units may be
           the replacement Funds, using the Prices for the                    delayed by the time taken to obtain proof we
           relevant Valuation Day. As soon as reasonably                      consider satisfactory.
           practicable thereafter, we will advise you of the Prices
           used, the Valuation Day and the number of Units              5.3   Correspondence concerning the Plan
           added to or deducted from each Fund.                               You should send any correspondence relating to the
                                                                              Plan to our Customer Service Centre, the address of
                                                                              which is on Page 5 of this booklet. We will notify
4.1        Restrictions                                                       you if it changes.
           We may restrict the maximum number of switches that                You may notify us of any instructions relating to the
           can be made in respect of each Policy in any Plan                  Plan in writing or, subject to satisfactory
           Year. We reserve the right to change from time to                  identification, by e-mail or telephone. For certain
           time the restriction on Fund switches. This restriction,           instructions given by e-mail we may require
           together with the restriction on selection of Funds that           confirmation by telephone before we will act on
           is described in the terms and conditions section 1.10,             them. For certain instructions given by e-mail or
           forms part of the Selection Restrictions.                          telephone we may require confirmation in writing
                                                                              before we will act on them.
           We may, from time to time, put in place other                      We will assume that any correspondence we send
           restrictions or conditions, which we may modify or                 you has been received by you, at the time it would
           terminate at any time, relating to switches between

                                                                                                                                   9
20964794
Hartford Platinum –terms and conditions
           have arrived at the most recent address (either postal   5.11 Subsequent legislation
           or electronic) you have given us. You should notify
           us immediately if you change the address.                     These terms and conditions were written in March
                                                                         2007.
           If we request, you must produce the Plan Schedule,
           Policy Statements and these terms & conditions as a           If at any time after this date there is any change in
           condition to the exercise of the rights under the Plan        tax or other laws or rules such that any of the
           or when Benefits are to be paid.                              following occur:
                                                                         a)   our investment rights are restricted or removed;
5.4        Parties to the Contract                                       b) it becomes impossible or impractical to carry
           This contract may be enforced only by the parties to             out any or all of the procedures laid down in the
           the contract and not by any third party under rights             terms and conditions; or
           conferred by the Contracts (Rights of Third Parties)
           Act 1999 as may be in force from time to time.                c)   a tax on Payments you make or additional tax,
                                                                              stamp duty or levy is imposed
5.5        Assignment                                                    then we will have the right to make such adjustment
           The pension scheme holding the Plan can be                    to the basis of calculating the Benefits under the Plan
           changed by assignment, but only subject to request            as we determine, having regard to the fair treatment
           to, and approval by Hartford Life Limited.                    of all connected parties.
           You cannot, however, assign the Benefits payable
           under the Plan.                                          5.12 Clerical Error
                                                                         A clerical error by us shall not invalidate a Plan
5.6        Receipts                                                      otherwise validly in force or continue a Plan
                                                                         otherwise not validly in force.
           A receipt for any Payment will not be valid unless it
           is on our printed form.
                                                                    5.13 Tax
5.7        Investment                                                     We are granting this Plan on the condition that such
           We (or our agents) shall not be liable for any loss or         of our business referable to this Plan is treated as
           consequential loss or any depreciation in or default           Pensions Business. The Trustee agrees to use all
           upon any of the investments of the Funds.                      reasonable endeavours to ensure that the Scheme is
                                                                          and remains a Registered Pension Scheme. The
5.8 Endorsements                                                          Trustee agrees to notify us if the Scheme ceases to
                                                                          be a Registered Pension Scheme. If the Scheme
           If we decide to alter the Plan, as allowed by these
           terms and conditions and by law, we will issue an              ceases to be a Registered Pension Scheme or this
           endorsement which will record the change to the                Plan ceases to fall within the definition of Pensions
           Plan. The endorsement will change or add to                    Business we have the right to terminate the Plan with
           information that appears in the terms and                      immediate effect. If as a result of the Scheme
           conditions. When you read these terms and                      ceasing to be a Registered Pension Scheme or the
           conditions after a change or addition has taken
           place, you should read them as changed or added to             Plan ceasing to fall within the definition of Pensions
           by the endorsement.                                            Business we become liable for any tax, charge, cost
                                                                          or expense (except where such liability has arisen as
5.9        Law                                                            a result of any act or omission by us) the Trustee will
           The Trustee, on behalf of the Scheme                           discharge that liability. If the Trustee does not
           Administrator, agrees with us that the Law of                  discharge that liability, we may cancel Units under
           England and Wales will apply to the Plan and that it           this Plan equivalent in value (at the Price applicable
           and all disputes in respect of the Plan shall be               to those Units at such time as we may determine) to
           subject to the exclusive jurisdiction of English               the amount of that liability. We will also be entitled
           courts.
                                                                          to recover any other amount for which we become
                                                                          liable, or the present value of any estimated amount
5.10 Currency                                                             of tax liability, by way of taxation in relation to this
           All Payments and Benefits are payable in the                   Plan or investments held under this Plan. The
           currency of the United Kingdom at the time                     recovery may be made by the deduction from any
           payment is made.                                               Benefits payable under this Plan or by such other
                                                                          method as we from time to time determine.




                                                                                                                               10
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Hartford Platinum –terms and conditions

Addendum 1 - Guaranteed Retirement Income Plan
Without Dependant Continuation Option
This Guaranteed Retirement Income Plan benefit is issued as part of the Policy to which it is attached, and is effective on the date it is
issued to you. Except where this Guaranteed Retirement Income Plan benefit provides otherwise, it is subject to all of the conditions
and limitations of the Guaranteed Policy.

This Guaranteed Retirement Income Plan benefit provides a guaranteed income for life and a guaranteed minimum Death Benefit.


Glossary of Terms
                                                                         Maximum Policy Value
Accumulation Charge                                                      The highest Guaranteed Policy Account Value, attained by
A charge we take for providing the Benefits set out in the               the Guaranteed Policy on a Plan Anniversary, for the purpose
addendum, see Section 4 of this addendum for details.                    of calculating Step-Ups.

Drawdown Charge                                                          Minimum Income
A charge we take for providing the Benefits set out in the               The minimum income amount available under HMRC rules
addendum once certain conditions are met as described in                 as an Authorised Payment.
Section 4 of this addendum.
                                                                         Pension Commencement Lump Sum
Excess Withdrawal                                                        The lump sum available as an Authorised Payment for part
A withdrawal that exceeds the Maximum Guaranteed                         crystallized benefits under a Registered Pension Scheme.
Withdrawal
                                                                         Plan Anniversary
Guaranteed Minimum Death Benefit                                         The day, twelve months after the commencement date of the
The minimum amount payable from the Guaranteed                           Plan and every year thereafter.
Retirement Income Plan policy when you die.
                                                                         Step-Up
Guaranteed Policy                                                        An increase in the Guaranteed Level of your Guaranteed
The Policy to which this Guaranteed Retirement Income Plan               Policy.
benefit is attached.
                                                                         Withdrawal
Guaranteed Policy Account Value                                          A Withdrawal of a portion of the Policy Value including the
The investment value of the Guaranteed Policy from time to               Early Withdrawal Charge and all other Withdrawals and tax
time, based on the number and price of Units allocated to the            charges unless specified otherwise in this addendum.
Guaranteed Policy.
                                                                         Withdrawal Percentage
Guaranteed Policy Year                                                   The Withdrawal Percentage is the percentage used to
The 12-month period between one Plan Anniversary and the                 determine your MGW once you have attained age 55 and
subsequent Plan Anniversary.                                             commenced taking income.

Guaranteed Level
This is the value used to determine the Maximum Guaranteed
Withdrawal and Guaranteed Minimum Death Benefit. A
separate Guaranteed Level will apply for each Guaranteed
Policy in your Plan.

Lifetime Annuity Option
A contract with an insurance company that offers a
guaranteed income for life in return for an initial premium.

Maximum Guaranteed Withdrawal (MGW)
The maximum amount you can withdraw in a Guaranteed
Policy Year without reducing your future guaranteed income.
The MGW is available from when you attain age 55 until
your death.

Maximum Income
The maximum income amount available under HMRC rules
as an Authorised Payment.

                                                                                                                                       11
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Hartford Platinum –terms and conditions

1          How your Guaranteed Income is determined              1.3      Calculating the Maximum Guaranteed
                                                                          Withdrawal (MGW)
This section explains how we calculate the amount of your
guaranteed income available under a Guaranteed Policy.           The MGW is determined as follows:

The MGW, is determined by applying the relevant                  a)      until you attain age 55, the MGW is equal to zero.
Withdrawal Percentage to the Guaranteed Level. This is           b)      after you have attained age 55, the MGW is equal to
explained in more detail below.                                          the Withdrawal Percentage , when you start taking
                                                                         income, multiplied by the Guaranteed Level.
1.1        Setting the Withdrawal Percentage
                                                                 Any time your Guaranteed Level is adjusted (see Section 2),
The Withdrawal Percentage is set when you first take a           we will recalculate your MGW to equal the Withdrawal
Withdrawal from the Guaranteed Policy apart from                 Percentage, when you first start to take income, multiplied by
Withdrawals in respect of the following:                         the revised Guaranteed Level.

      a) Withdrawals taken before you attain age 55;             If the Guaranteed Level is equal to zero due to Excess
      b) Withdrawals taken in the form of a Pension              Withdrawal(s), the MGW is equal to zero. Subsequent
         Commencement Lump Sum; and                              Payments may be made into your Guaranteed Policy to re-
      c) Withdrawals in respect of a Pension Sharing Order.      establish the Guaranteed Level and the MGW.

The Withdrawal Percentage is based on your age at the time       2      Step-Ups       and    other    adjustments     to    the
of the first Withdrawal other than those above:                  Guaranteed Level

             Age Attained            Withdrawal                  2.1 Step-Ups
                                     Percentage
                55 – 59                 4.5%                     On each Plan Anniversary up to and including the Plan
                60 – 64                 5.0%                     Anniversary immediately following your 74th birthday, we
                65 - 69                 5.5%                     will determine if an automatic increase in the Guaranteed
              70 and older              6.0%                     Level is applicable. An increase will apply where the value
                                                                 of your Guaranteed Policy Account Value is higher than the
                                                                 Maximum Policy Value.
This schedule of Withdrawal Percentages is subject to change
until you attain age 50.
                                                                 If an automatic increase is applicable, we will increase the
 Our reasons for altering the Withdrawal Percentage could
                                                                 Guaranteed Level by up to a maximum of 10%.             The
include:
                                                                 percentage increase is determined by the following
         a) changes in economic conditions, for example if
                                                                 calculation:
         interest rates were to be significantly higher or
         lower;
         b) changes in law and taxation;                                  Guaranteed Policy Account Value      -1    * 100
         c) changes in solvency considerations, for example if
                                                                          Maximum Policy Value
         our claims experience was to deteriorate
         significantly;
         d) changes in regulation , for example if regulatory    Maximum Policy Value is defined in the next Section.
         requirements on the amount of capital we are            There are no further Step-Ups after your 75th birthday.
         required to hold changed significantly;
         e) changes in the underlying third party funds, for
         example if underlying funds become more volatile in     2.2      The Maximum Policy Value
         the future.
                                                                 The Maximum Policy Value is initially set equal to the
1.2        Determining the Guaranteed Level                      Amount Invested in the Guaranteed Policy. It is increased by
                                                                 any Additional Amounts Invested into the Guaranteed Policy.
The Guaranteed Level is first set equal to the Initial Amount
Invested in the Guaranteed Policy.                               On each Plan Anniversary, following the recalculation of the
                                                                 Guaranteed Level, the Maximum Policy Value is reviewed
It may be increased by Step-Ups. It may also be increased by     and set equal to the higher of the existing Maximum Policy
Additional Amounts Invested in your Guaranteed Policy and        Value and the Guaranteed Policy Account Value on that
may be reduced by Withdrawals as described in Section 2 of       anniversary.
this addendum.




                                                                                                                             12
20964794
Hartford Platinum –terms and conditions

The Maximum Policy Value is reduced by certain                 Withdrawal(s) from the Guaranteed Policy in a Guaranteed
Withdrawals:                                                   Policy Year up to the value of the MGW.

      a) Pension Commencement Lump Sum;                        If the sum of all Withdrawals in a Plan Year is less than the
      b) Pension Sharing Order;                                MGW and you take a subsequent Withdrawal that increases
      c) authorised drawdown commission                        that sum to more than the MGW, we will treat that
           (see Section 1.6 of the main Terms & Conditions)    Withdrawal as two separate Withdrawals for the purposes of
                                                               calculating the Guaranteed Level and the MGW.
. The percentage reduction is calculated as follows:
                                                               The first of the two Withdrawals equals the amount up to the
           A/B*100 where                                       remaining MGW available for that Plan Year.

           A = the amount by which the Guaranteed Policy       The second of the two Withdrawals equals the excess over
           Account Value is reduced; and                       any remaining MGW available; this second Withdrawal will
           B = the Guaranteed Policy Account Value             be considered an Excess Withdrawal and will reduce the
           immediately before the Withdrawal is taken          Guaranteed Policy Account Value. The percentage reduction
                                                               is calculated as follows:-

2.3        How Additional Payments affect your guarantee                A/B*100 where:

When an Additional Payment is made to your Guaranteed                   A = the amount by which the Guaranteed Policy
Policy, the Guaranteed Level will be increased by the Amount                Account Value is reduced; and
Invested in your Guaranteed Policy.                                     B = the Guaranteed Policy Account Value
                                                                            immediately before the Withdrawal is taken.
Our approval is required for Additional Payments to be made
into your Guaranteed Policy.                                   3        Guaranteed Minimum Death Benefit

                                                               If a Death Benefit is payable before you attain age 75, such
2.4         Commission Payments, Pension Commencement          Benefit will equal the greater of the Guaranteed Policy
             Lump Sum, Pension Sharing Order                   Account Value at the date we receive Due Proof of Death or
                                                               the Guaranteed Minimum Death Benefit described below, as
Where an additional commission payment is authorised by        of the date of Death.
you, (see Section 1.6 of the main terms & conditions), or a
withdrawal due to a Pension Commencement Lump Sum or           The Guaranteed Minimum Death Benefit equals your
Pension Sharing Order is made, the Guaranteed Level will be    Guaranteed Level less cumulative Withdrawals taken to date
reduced. The percentage reduction is calculated as follows:    other than the following:

           A/B*100 where:                                          a) Withdrawals taken from the Guaranteed Policy prior
                                                                      to you attaining age 55; and
           A = the amount by which the Guaranteed Policy           b) Withdrawals taken from the Guaranteed Policy in
                Account Value is reduced; and                         excess of the MGW; and
           B = the Guaranteed Policy Account Value                 c) Pension Commencement Lump Sum; and
               immediately before the Withdrawal is taken.         d) Pension Sharing Order ; and
                                                                   e) commission payments
2.5        Withdrawals before Age 55
                                                               In the case of c, d and e above we will also adjust your
When a Withdrawal is made prior to you attaining age 55, the   cumulative Withdrawals so that your Guaranteed Minimum
Guaranteed Level will be reduced. The percentage reduction     Death Benefit will be reduced by the proportion of that
is calculated as follows:                                      Withdrawal to the Guaranteed Policy Account Value.

           A/B*100 where;                                      All of our liabilities will cease on the payment of the Death
                                                               Benefit.
           A = the amount by which the Guaranteed Policy
               Account Value is reduced; and                   If a Death Benefit is payable after you attain age 75 then the
           B = the Guaranteed Policy Account Value             amount payable is equal to the Guaranteed Policy Account
               immediately before the Withdrawal is taken.     Value.

2.6        Withdrawals after Age 55                            If your age has been misstated, the amount of Death Benefit
                                                               is determined based on the correct age.
When a Withdrawal is made after you attain age 55, we will
not reduce the Guaranteed Level for cumulative


                                                                                                                          13
20964794
Hartford Platinum –terms and conditions

4          Guaranteed Retirement Income Plan Charge                proportion in which they are selected, after the switch, is
                                                                   subject to our Selection Restrictions.
There is an additional charge for the Guaranteed Retirement
                                                                   6        Maximum Income
Income Plan option. The charge will be assessed on the
Guaranteed Policy Account Value.
                                                                   On each Plan Anniversary following the calculation of the
                                                                   Step-Up if applicable or at your request or if you have
If you have not taken any Withdrawals other than:
                                                                   attained age 75, we will determine whether the Maximum
                                                                   Guaranteed Withdrawal will exceed the Maximum Income.
    a) Withdrawals from the Guaranteed Policy prior to
       you attaining age 55;
                                                                   If your Maximum Guaranteed Withdrawal exceeds the
    b) Withdrawals taken from the Guaranteed Policy in
                                                                   Maximum Income we will offer you a Lifetime Annuity as
       order to pay a Pension Commencement Lump Sum;
                                                                   described in Section 8.
       or
    c) Withdrawals taken from the Guaranteed Policy as a
                                                                   If you accept the Lifetime Annuity when it is offered and your
       result of a Pension Sharing Order
                                                                   Maximum Guaranteed Withdrawal exceeds your Maximum
                                                                   Income on a Plan Anniversary or you have not taken any
then the Accumulation Charge will be deducted.
                                                                   withdrawals from your Guaranteed Policy since your last Plan
                                                                   Anniversary, the Lifetime Annuity will commence payment
If you have taken any Withdrawals other than those outlined
                                                                   immediately.
above, the Drawdown Charge will be deducted.
                                                                   However, if you have taken Withdrawals since the last Plan
The charge that applies at the Commencement Date of a
                                                                   Anniversary and you elect to take a Lifetime Annuity, the
policy is shown on your Policy Statement(s) against
                                                                   Lifetime Annuity will commence payment no earlier than
“Guaranteed Retirement Income Plan Charge”. Please
note that, if the Accumulation Charge applies, the Policy
                                                                            365 * A/B days since the last Plan Anniversary
Statement will also show the current level of the
Drawdown charge although you should be aware that this
                                                                   Where:
could be subject to change as described below.
                                                                            A = the Withdrawals taken since the last Plan
We reserve the right to alter the level of these charges in
                                                                                Anniversary and,
future. A minimum of two months notice will be given in the
                                                                            B = your MGW when you elect to take a Lifetime
event that we intend to increase the charges. Our reasons for
                                                                                Annuity.
altering the charge could include:
                                                                   Once you elect to take a Lifetime Annuity, our liability for
           a) changes in economic conditions, for example if
                                                                   any further Benefits will cease.
           interest rates were to be significantly higher or
           lower;
                                                                   You do not have to accept the Lifetime Annuity when it is
           b) changes in law and taxation;
                                                                   offered. However, in the event that you do not accept the
           c) changes in solvency considerations, for example if
                                                                   option, you will be required to restrict your Withdrawals to
           our claims experience was to deteriorate
                                                                   the Maximum Income.
           significantly;
           d) changes in regulation , for example if regulatory
                                                                   If you do not accept the Lifetime Annuity the MGW is not
           requirements on the amount of capital we are
                                                                   reduced and remains available should the Maximum Income
           required to hold changed significantly;
                                                                   increase in a future year.
           e) changes in the underlying third party funds, for
           example if underlying funds become more volatile in
                                                                   Where the MGW is restricted by the Maximum Income in any
           the future..
                                                                   Plan Year, any amount of the MGW that has not been taken
                                                                   as a result of this restriction is not available to be taken in a
5        Investment Selection Restrictions
                                                                   subsequent year in addition to the MGW that applies for that
The range of Funds from which you select and the proportion        year.
in which they are selected are subject to our Selection
Restrictions. We may from time to time create new Funds and
                                                                   7        Minimum Income
make them available to you. We may from time to time
change our Selection Restrictions. A list of the available         Under existing HMRC rules there is no requirement to take
Funds and the Selection Restrictions will be provided to you       withdrawals from the Plan before you attain age 75.
on request.
                                                                   On attaining age 75 you are currently required to take a
The selection of Funds into which you may switch, including        Minimum Income as stipulated by HMRC. Where the
the proportion in which they are selected , is subject to our      Minimum Income exceeds the Maximum Guaranteed
Selection Restrictions.                                            Withdrawals from your Guaranteed Policies the Minimum
                                                                   Income will be paid with the shortfall being paid from any
The selection of Funds following a Withdrawal, including the

                                                                                                                                 14
20964794
Hartford Platinum –terms and conditions

non-Guaranteed Policy(s).

If the non-Guaranteed Policy(s) are insufficient to fund the
Minimum Income, or where there are no non-Guaranteed
Policies, we will offer to maintain the Maximum Guaranteed
Withdrawals by providing a Lifetime Annuity as described in
Section 8. In the event that the Plan Value exceeds the value
of the Lifetime Annuity as determined by us, the difference
will be transferred to a non-Guaranteed Policy and our
liabilities under the Guaranteed Policy will cease.

Alternatively you may choose to receive the Minimum
Income from the Plan. If this is in excess of the MGW,
Section 2.6 will apply.

8          Lifetime Annuity Option

If you accept the Lifetime Annuity option we will issue a new
policy.

The Lifetime Annuity is set at the level of your Maximum
Guaranteed Withdrawal. It is paid as a level amount for the
rest of your life. It is not possible to alter the amount of
income once the option has been selected.

Should the Lifetime Annuity option be selected before you
attain age 75, the first five years income payments are
guaranteed to be paid even in the event of your death within
this period. There is no Death Benefit under the Lifetime
Annuity after this 5 year period or where it is selected after
you attain age 75.

The Lifetime Annuity option is irrevocable and transfers
cannot be made once it has been selected.

We will consider alternative Lifetime Annuities of an
equivalent value, as determined by the us, on your request.
This may be subject to underwriting, the cost of which will be
deducted from the plan. It is entirely at our discretion what
terms are offered on Lifetime Annuities other than those that
provide the Maximum Guaranteed Withdrawal on the basis
selected at the outset of the Guaranteed Policy.

Any deduction from the Plan to cover the cost of underwriting
will be treated as an Excess Withdrawal and reduce the
guarantee as described in Section 2.6, this will in turn reduce
the level of the Lifetime Annuity.




                                                                  15
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Hartford Platinum –terms and conditions

Addendum 2 - Guaranteed Retirement Income Plan
With Dependant Continuation option
This Guaranteed Retirement Income Plan is issued as part of the Policy to which it is attached, and is
effective on the date it is issued to You. Except where this Guaranteed Retirement Income Plan provides
otherwise, it is subject to all of the conditions and limitations of the Guaranteed Policy.

This Guaranteed Retirement Income Plan provides a guaranteed income for your life and the life of your
Named Dependant.


Glossary of Terms                                      Maximum Guaranteed Withdrawal (MGW)
                                                       The maximum amount you can withdraw in a
Accumulation Charge                                    Guaranteed Policy Year without reducing your
A charge we take for providing the Benefits set        future guaranteed income.      The MGW is
out in the addendum, see Section 4 of this             available from when the younger of you or your
addendum for details.                                  named dependant attain age 55 until your death.

Drawdown Charge                                        Maximum Income
A charge we take for providing the Benefits set        The maximum income amount available under
out in the addendum once certain conditions are        HMRC rules as an Authorised Payment
met as described in Section 4 of this addendum.
                                                       Maximum Policy Value
Excess Withdrawal                                      The highest Guaranteed Policy Account Value,
A withdrawal that exceeds the Maximum                  attained by the Guaranteed Policy on a Plan
Guaranteed Withdrawal                                  Anniversary, for the purpose of calculating Step
                                                       ups.
Guaranteed Policy
This Policy to which this Guaranteed                   Minimum Income
Retirement Income Plan benefit is attached.            The minimum income amount available under
                                                       HMRC rules as an Authorised Payment.
Guaranteed Policy Account Value
The investment value of the Guaranteed Policy          Pension Commencement Lump Sum
from time to time, based on the number and             The lump sum available as an Authorised
price of Units allocated to the Guaranteed             Payment for part crystallized benefits under a
Policy.                                                Registered Pension Scheme.
                                                       Plan Anniversary
Guaranteed Policy Year                                 The day, twelve          months after the
The 12-month period between one Plan                   commencement date of the Plan. and every year
Anniversary and the subsequent Plan                    thereafter.
Anniversary
                                                       Step-Up
Guaranteed Level                                       An increase in the Guaranteed Level of your
This is the value used to determine the                Guaranteed Policy.
Maximum Guaranteed Withdrawal and
Guaranteed Minimum Death Benefit.           A          Withdrawal
separate Guaranteed Level will apply for each          A withdrawal of a portion of the Policy Value
Guaranteed Policy in your plan.                        including the Early Withdrawal Charge and all
                                                       other withdrawal and tax charges unless
Lifetime Annuity                                       specified otherwise in this addendum.
A contract with an insurance company that
offers a guaranteed income for life in return for      Withdrawal Percentage
an initial premium.                                    The Withdrawal Percentage is the percentage
                                                       used to determine your MGW once the younger
                                                       of you or your Named Dependant attain age 55
                                                       and you commence taking income.




20964794                                                                                            16
Hartford Platinum –terms and conditions

1          How your Guaranteed Income is          1.2     Determining the Guaranteed Level
           determined
                                                  The Guaranteed Level is first set equal to the
This section explains how we calculate the        Initial Amount Invested in the Guaranteed
amount of your guaranteed income available        Policy.
under a Guaranteed Policy.
                                                  It may be increased by Step-Ups. It may also
The maximum amount of guaranteed income           be increased by Additional Amounts Invested in
available, the MGW, is determined by applying     your Guaranteed Policy and may be reduced for
the relevant Withdrawal Percentage to the         Withdrawals as described in Section 2 of this
Guaranteed Level. This is explained in more       addendum
detail below.
                                                  1.3    Calculating     the  Maximum
1.1        Setting the Withdrawal Percentage      Guaranteed Withdrawal (MGW)

The Withdrawal Percentage is set when the         The MGW is determined as follows:
younger of you or your named dependant first
take a Withdrawal from the Guaranteed Policy      a) Until the younger of you an your named
apart from Withdrawals in respect of the          dependant attain age 55, the MGW is equal to
following:                                        zero.
                                                  b) After the younger of you and your named
a) Withdrawals taken before you attain age        dependant attain age 55, the MGW is equal to
   55; or                                         the Withdrawal Percentage multiplied by the
b) Withdrawals taken in the form of a Pension     Guaranteed Level.
   Commencement Lump Sum ; or
c) Withdrawals in respect of a Pension            Any time your Guaranteed Level is adjusted
   Sharing Order.                                 (see Section 2), we will recalculate your MGW
                                                  to equal your Withdrawal Percentage multiplied
            Attained age of                       by the revised Guaranteed Level.
              younger of            Withdrawal
           Named Dependant          Percentage    If the Guaranteed Level is equal to zero due to
             and Member                           Excess Withdrawal(s), the MGW is equal to
                55 – 59                4.0%       zero. Subsequent Payments may be paid into
                60 – 64                4.5%       your Guaranteed Policy to re-establish the
                65 – 69                5.0%       Guaranteed Level and the MGW.
             70 and older              5.5%       2        Step-Ups and other adjustments to
                                                  the Guaranteed Level
This schedule of Withdrawal Percentages is
subject to change until the younger of you and    2.1 Step-Ups
the Named Dependant attain age 50.
Our reasons for altering the Withdrawal           On each Plan Anniversary up to and including
Percentage could include:                         the Plan Anniversary immediately following the
         a) changes in economic conditions, for   74th birthday of the youngest surviving of you
         example if interest rates were to be     and the Named Dependant, we will determine if
         significantly higher or lower;           an automatic increase in the Guaranteed Level
         b) changes in law and taxation;          is applicable. An increase will apply where the
         c) changes in solvency considerations,   Guaranteed Policy Account Value is higher
         for example if our claims experience     than the Maximum Policy Value.
         was to deteriorate significantly;        If an automatic increase is applicable, we will
         d) changes in regulation , for example   increase the Guaranteed Level by up to a
         if regulatory requirements on the        maximum of 10%. The percentage increase is
         amount of capital we are required to     determined by the following calculation:
         hold changed significantly;
         e) changes in the underlying third
         party funds, for example if underlying    Guaranteed Policy Account Value        -1    *
         funds become more volatile in the        100
         future.                                          Maximum Policy Value

                                                  Maximum Policy Value is defined in the next
                                                  section.

20964794                                                                                       17
Hartford Platinum –terms and conditions

 There are no further Step-Ups after the 75th
birthday of the younger of you and the Named             A/B*100 where:
Dependant.
                                                         A = the amount by which the
2.2        The Maximum Policy Value                      Guaranteed Policy Account Value is
                                                         reduced; and
The Maximum Policy Value is initially set                B = the Guaranteed Policy Account
equal to the Amount Invested in the Guaranteed           Value    immediately  before   the
Policy. It is increased by any subsequent                Withdrawal is taken.
Amounts Invested into the Guaranteed Policy.
                                                 2.5     Withdrawals before Age 55
On each Plan Anniversary, following the
recalculation of the Guaranteed Level, the       When a Withdrawal is made prior to the
Maximum Policy Value is reviewed and set         younger of you and the Named Dependant
equal to the higher of the existing Maximum      attaining age 55, the Guaranteed Level will be
Policy Value and the Guaranteed Level.           reduced. The percentage reduction is calculated
                                                 as follows:
The Maximum Policy Value is reduced by                    A/B*100 where:
certain Withdrawals:
                                                         A = the amount by which the
      a) Pension Commencement Lump Sum;                  Guaranteed Policy Account Value is
      b) Pension Sharing Order; or                       reduced; and
      c) authorised drawdown commission                  B = the Guaranteed Policy Account
          (see Section 1.6 of the main terms &           Value    immediately  before   the
      conditions)                                        Withdrawal is taken.

The percentage reduction is calculated as        2.6     Withdrawals after Age 55
follows:
                                                 When a Withdrawal is made after the younger
           A/B*100 where:                        of you and the Named Dependant has attained
                                                 age 55, we will not reduce the Guaranteed
           A = the amount by which the           Level for cumulative Withdrawal(s) from the
           Guaranteed Policy Account Value is    Guaranteed Policy in a Guaranteed Policy Year
           reduced; and                          that are up to the value of the MGW.
           B = the Guaranteed Policy Account
           Value immediately before the
           Withdrawal is taken                   If the sum of all Withdrawals in a Plan Year is
                                                 less than the MGW and you take a subsequent
2.3     How Additional Payments affect           Withdrawal that increases that sum to more
your guarantee                                   than the MGW, we will treat that Withdrawal as
                                                 two separate Withdrawals for the purposes of
When an Additional Payment is made to your       calculating the Guaranteed Level and the
Guaranteed Investment policy, the Guaranteed     MGW.
Level will be increased by the Amount Invested
in your Guaranteed Policy.                       The first of the two Withdrawals equals the
                                                 amount up to the remaining MGW available for
Our approval is required for Additional          that Plan Year.
Payments to be paid into your Guaranteed
Policy.                                          The second of the two Withdrawals equals the
                                                 excess over any remaining MGW available; this
                                                 second Withdrawal will be considered an
2.4 Commission Payments, Pension                 Excess Withdrawal and will reduce the
Commencement Lump Sum, Pension                   Guaranteed Level. The percentage reduction is
Sharing Order                                    calculated as follows:-
                                                          A/B * 100 where:
Where an additional commission payment is
authorised by you (see Section 1.6 of the main           A = the amount by which the
terms & conditions) or a Withdrawal due to a             Guaranteed Policy Account Value is
Pension Commencement Lump Sum or Pension                 reduced; and
Sharing Order is made, the Guaranteed Level              B = the Guaranteed Policy Account
will be reduced. The percentage reduction is             Value    immediately  before   the
calculated as follows:                                   Withdrawal is taken.
20964794                                                                                 18
Hartford Platinum –terms and conditions

3          Death of the Member or Named                       amount of capital we are required to
           Dependant                                          hold changed significantly;
                                                              e) changes in the underlying third
The MGW is paid until the death of the last                   party funds, for example if underlying
surviving of you and the Named Dependant.                     funds become more volatile in the
                                                              future.
4          Guaranteed    Retirement     Income
           Plan Charge                               5         Investment Selection Restrictions
                                                     You can select from a range of Funds, including
There is an additional charge for the                the proportion in which they are selected, but
Guaranteed Retirement Income Plan. The               this selection is subject to our Selection
charge will be assessed on the Guaranteed            Restrictions. We may from time to time create
Policy Account Value.                                new Funds and make them available to you. We
                                                     may from time to time change our Selection
 If you have not taken any Withdrawals other         Restrictions. A list of the available Funds and
than:-                                               the Selection Restrictions will be provided to
                                                     you on request.
    a) Withdrawals from the Guaranteed
       Policy prior to the younger of you and        The selection of Funds into which you may
       the Named Dependant attaining age             switch, including the proportion in which they
       55;                                           are selected is subject to our Selection
    b) Withdrawals       taken   from     the        Restrictions.
       Guaranteed Policy in order to pay a
       Pension Commencement Lump Sum;                The selection of Funds following a Withdrawal,
       or                                            including the proportion in which they are
    c) Withdrawals       taken   from     the        selected, after the switch, is subject to our
       Guaranteed Policy as a result of a            Selection Restrictions.
       Pension Sharing Order                         6        Maximum Income

then the      Accumulation   Charge    will     be   On each Plan Anniversary following the
deducted.                                            calculation of the Step-Up if applicable or at
                                                     your request if you have attained age 75, we
If you have taken any Withdrawals other than         will determine whether the Maximum
those outlined above, the Drawdown Charge            Guaranteed Withdrawal will exceed the
will be deducted.                                    Maximum Income.
The charge that applies at the                       If following this review your Maximum
Commencement Date of a policy is shown               Guaranteed Withdrawal exceeds the Maximum
on your Policy Statement(s) against                  Income we will offer you a Lifetime Annuity as
“Guaranteed Retirement Income Plan                   described in Section 8.
Charge”. Please note that, if the
Accumulation Charge applies, the Policy              If your Maximum Guaranteed Withdrawal
Statement will also show the current level of        exceeds your Maximum Income on a Plan
the Drawdown charge although you should              Anniversary or you have not taken any
be aware that this could be subject to change        withdrawals from your Guaranteed Policy since
as described below.                                  your last Plan Anniversary and you elect to take
                                                     the the Lifetime Annuity, it will commence
We reserve the right to alter the level of these     payment immediately.
charges in future. A minimum of 2 months
notice will be given in the event that we intend     However, if you have taken Withdrawals since
to increase the charges. Our reasons for altering    the last Plan Anniversary and you elect to take a
the charge could include:                            Lifetime Annuity, it will commence payment
         a) changes in economic conditions, for      no earlier than
         example if interest rates were to be
         significantly higher or lower;                      (365 * A/B) days since the last Plan
         b) changes in law and taxation;             Anniversary
         c) changes in solvency considerations,
         for example if our claims experience        Where:
         was to deteriorate significantly;
         d) changes in regulation , for example                A = the Withdrawals taken since the
         if regulatory requirements on the           last Plan Anniversary and,
20964794                                                                                             19
Hartford Platinum –terms and conditions

         B = your MGW when you elect to take                   be transferred to a non-Guaranteed Policy and
a Lifetime Annuity.                                            our liabilities under the Guaranteed Policy will
                                                               cease.
Once you elect to take a Lifetime Annuity, our
liability for any further Benefits will cease.                 Alternatively you may choose to receive the
                                                               Minimum Income from the Plan. If this is in
You do not have to accept the Lifetime Annuity                 excess of the MGW, Section 2.6 will apply.
when it is offered. However, in the event that
you do not accept the option, you will be                      8          Lifetime Annuity Option
required to restrict your withdrawals to the
Maximum Income.                                                If you accept the Lifetime Annuity option we
                                                               will issue a new policy.
If you do not accept the Lifetime Annuity
option the MGW is not reduced and remains                      The Lifetime Annuity is set at the level of your
available should the Maximum Income increase                   Maximum Guaranteed Withdrawal. It is paid
in a future year.                                              as a level amount for the rest of your life. It is
                                                               not possible to alter the amount of income once
Where the MGW is restricted by the Maximum                     the option has been selected.
Income in any Plan Year, any amount of the
MGW that has not been taken as a result of this                Should the Lifetime Annuity option be selected
                                                               before you attain age 75, the first five years
restriction is not available to be taken in a
                                                               income payments are guaranteed to be paid
subsequent year in addition to the MGW that
                                                               even in the event of your death within this
applies for that year.
                                                               period. There is no Death Benefit under the
                                                               Lifetime Annuity after this 5 year period or
7          Minimum Income                                      where it is selected after you attain age 75.
Under existing HMRC rules there is no
requirement to take withdrawals from the Plan                  The Lifetime Annuity option is irrevocable and
before you attain age 75.                                      transfers cannot be made once it has been
                                                               selected.
On attaining age 75 you are required to take a
                                                               We will consider alternative Lifetime Annuities
Minimum Income as stipulated by HMRC.
                                                               of an equivalent value, as determined by us, on
Where the Minimum Income exceeds the
                                                               your request.        This may be subject to
Maximum Guaranteed Withdrawals from your
                                                               underwriting, the cost of which will be
Guaranteed Policies the Minimum Income will                    deducted from the plan. It is entirely at our
be paid with the shortfall being paid from any                 discretion what terms are offered on Lifetime
non-Guaranteed Policy(s).                                      Annuities other than those that provide the
                                                               Maximum Guaranteed Withdrawal on the basis
If the non-Guaranteed Policy(s) are insufficient               selected at the outset of the Guaranteed Policy.
to fund the Minimum Income, or where there
are no non-Guaranteed Policies, we will offer to               Any deduction from the Plan to cover the cost of
maintain      the     Maximum       Guaranteed                 underwriting will be treated as an Excess
Withdrawals by providing a Lifetime Annuity                    Withdrawal and reduce the guarantee as
as described in Section 8. In the event that the               described in Section 2.6, this will in turn reduce
Plan Value exceeds the value of the Lifetime                   the level of the Lifetime Annuity.
Annuity as determined by us, the difference will




The Hartford refers to The Hartford Financial Services Group, Inc., the parent company of the family of Hartford
companies, and it affiliates, offering financial services products in selected jurisdictions, including Hartford Life
Limited (no.242197) incorporated in the Republic of Ireland with limited liability. Registered and Head Office:
Swords Business Campus, Swords, Co. Dublin. Hartford Life Limited is authorised by the Irish Financial Regulator
and regulated by the Financial Services Authority for the conduct of UK business. UK Branch: Level 29, One
Canada Square, Canary Wharf, London, E14 5AA. Registered in England and Wales with registered number (Co
No. FC25647; Branch No. BR007928). HLLHP/100901/0407


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