Life Insurance Quotes

The Hartford awarded a patent for its life insurance system

07/26/11

The Hartford announced today that it has received a patent from the United States Patent and Trademark Office for its life insurance system. Those who become chronically ill will have their death benefits augmented, and income derived from the now-patented LifeAccess Accelerated Benefit Rider may be used for any purpose, such as paying family members for homecare.

"Covering the cost of becoming chronically ill is the leading cause of bankruptcy for older Americans," said The Hartford's chief medical strategist, Dr. Robert Pokorski. "That's why we are so excited to be awarded a patent for a system that can provide income to consumers when they need it most."

Pokorski stated that the LifeAccess Accelerated Benefit Rider system provides up to $109,500 per year to policyholders with a chronic illness. Breaking from traditional long-term care plans, The Hartford's doesn't require policyholders to submit receipts, receive pre-approval for medical treatment or limit when or where from they receive care.

The Centers for Disease Control and Prevention reports that seven out of every 10 deaths in the United States are as a result of chronic diseases. Investing in a comprehensive life insurance policy can help ensure that surviving loved ones aren't left with outstanding medical bills and debt.

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