Women earn as supporting But The Hartford Survey Finds They are lagging behind in life insurance knowledge, use

SIMSBURY, Conn.--(BUSINESS WIRE)-- Women have made gains in the job market, now holding half of our nation's 132 million jobs, according to recent data from the U.S. Bureau of Labor Statistics. However, a gap remains in their understanding and use of benefits that protect their income, according to research by The Hartford Financial Services Group, Inc. (NYSE: HIG).

Men have higher participation rates for income protection benefits, such as life and disability insurance, while women have higher participation in health benefits, including medical and dental coverage, according to The Hartford's national survey. Sixty-four percent of women wage earners said they completely or mostly understand life insurance compared with 79 percent of men. And 61 percent of women workers said they have life insurance through their employer, compared to 68 percent of men.

Women are making important contributions to the U.S. economy and to their family finances, said Laura Marzi, assistant vice president of marketing in The Hartford's Group Benefits Division. We are concerned about the number of women who still lag behind men in protecting their wages. We're encouraging all workers, particularly working women, to take steps to protect their physical and financial health.

The recent recession has put a focus on women's wages. Men have suffered the most job losses in the past year, and women have outpaced men in getting jobs in the sectors that are growing, such as health care and education, according to the U.S. Bureau of Labor Statistics.

However, one in three women (32 percent) surveyed by The Hartford said they are just meeting their expenses or do not have enough income to meet their expenses, compared to one in five men (19 percent). The survey also found that 97 percent of all workers would have to change their lifestyle to meet expenses if they lost part of their family's income for three to six months.

We hope a lesson from recent tough times will be the importance of financial planning, including life insurance for all wage earners in a family, Marzi added.

Keeping It In The Family

Sixty-eight percent of women surveyed by The Hartford said they are the primary decision maker in their household. Many said they turn to their family for advice when they are considering life insurance. Spouses and immediate family members were the top influencer (62 percent) among female survey participants.

One in three women (32 percent) said it is extremely important to discuss end-of-life issues, such as life insurance, with family members, according to The Hartford's survey. Yet, the survey data indicated men are more comfortable than women discussing these issues. And only 28 percent of women reported having a will, compared to 42 percent of men.

Families have an opportunity to help their loved ones understand life insurance, noted Marzi. Americans can help protect their loved ones by asking if they have life insurance. Life insurance cannot replace the loss of a loved one and their contributions to family finances, but it can help keep dreams alive.

Families can use the fact that this month is Life Insurance Awareness Month as a conversation starter, she added. Other conversation starters can be found on The Hartford's Life Conversations website.

Four Cs of Life Insurance

• Calculate your needs. To help determine your needs, use this online calculator.
• Consider obtaining life insurance coverage at work. Your employer may help with insurance premiums. Many employers hold their annual benefits enrollment in the fall, meaning now could be a great time to easily get affordable coverage.
• Check your policy for benefits that you can use now. The Hartford recently expanded its group life policies to include valuable services that can save time, money and emotional stress, such as funeral planning services.
• Course correct as needed. If you are covered, take few moments to review your policy. Take into consideration any life changes because the amount of insurance you need depends on your current financial and family situations. For example, a single person's life insurance should cover personal debt, while a family breadwinner might consider spousal coverage to help provide for child care costs and household services.

Independent market research agency Opinauri, Inc., polled 1,019 U.S. adults, aged 18-64, in April 2009. The survey has a margin of error of 3.5 percent.

About The Hartford

Celebrating nearly 200 years, The Hartford (NYSE: HIG) is an insurance-based financial services company that serves households, businesses and employees by helping to protect their assets and income from risks, and by managing wealth and retirement needs. A Fortune 500 company, The Hartford is recognized widely for its service expertise and as one of the world's most ethical companies. More information on the company and its financial performance is available at www.thehartford.com.

HIG-L

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2008 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.



The Hartford

Media Contact(s):

Kelly J. Carter, 860-843-9420

Kelly.Carter@HartfordLife.com

or

David Potter, 860-843-8993

david.potter1@hartfordlife.com

Source: The Hartford Financial Services Group, Inc.