SIMSBURY, Conn. - Hartford Life is making four American Funds Insurance Series funds available to customers of Hartford's Stag family of life insurance products.
The Stag variable universal life product line includes Stag Protector, Stag Accumulator, and Stag Variable Life Artisan.
Hartford Life is adding two funds managed by Wellington Management Co. LLP to the nine Wellington manages for Stag's variable life line. Wellington also manages several portfolios for Hartford's Director variable annuity.
Robert Kerzner, senior vice president of Hartford's individual life division, said broker-dealers and their reps were asking to have some of the variety that Hartford's Leader multimanager variable annuity has.
"Most producers start off in insurance selling a variable annuity before they start selling variable life," he said. "If you want to make it easier for a broker to write life business, know they're going to want the same investment options in the life product as are in the annuity."
American Funds Insurance Series is managed by Capital Research and Management Co., of Los Angeles, which also manages assets of more than $350 billion for shareholders of the American Funds Group, the nation's third-largest mutual fund family.
Hartford Life is a member of The Hartford Financial Services Group Inc.