Hartford Life Insurance Company, a provider of mutual funds and other investment vehicles, announced this week that it will launch a new group annuity products aimed at 401(k) investors who work for small businesses.
The product, called Hartford 401 Cornerstone, will be co-branded with Edward Jones for distribution by the firms 8,000 representatives throughout the U.S., Hartford said. Edward Jones will exclusively market the product.
The annuity was developed for business owners who employ fewer than 500 workers. Investors who use the product will be able to choose among 43 investment options through The American Funds Group, Goldman Sachs & Co., and others.