Last week, Hartford Life Insurance Co. became the latest carrier to offer a portion of its variable annuity holders a voluntary buyout. For those owners who accept, all riders, including the lifetime income guarantee, will be voided. In exchange, they can surrender their contract and receive a premium over their current account value.

The move comes not long after Hartford decided to exit the life and variable annuity business to concentrate on property and casualty insurance and other lines of business. Currently, its variable annuity book is in runoff.

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