CHRISTINE REPASY
SENIOR VICE PRESIDENT AND
GENERAL COUNSEL [LOGO]
HARTFORD LIFE INSURANCE COMPANIES THE HARTFORD
DIRECT DIAL: (860) 843-3560
FAX: (860) 843-8328
INTERNET: crepasy@hartfordlife.com
September 24, 2004
To: Board of Directors of Hartford Life Insurance Company
RE: Enforceability of Funding Agreements Issued to Certain Trusts
Ladies and Gentlemen:
I am the General Counsel to Hartford Life Insurance Company ("Hartford Life"), a
Connecticut life insurance corporation.
I am furnishing this opinion in connection with the issuance by Hartford Life of
the funding agreement listed below (the "Contract") to the trust (the "Trust")
listed below on or about the date of this letter:
CONTRACT CONTRACTHOLDER
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Funding Agreement FA-404003 Hartford Life Global Funding Trust 2004-003
The Trust was established pursuant to the Hartford Life Global Funding note
issuance program (the "Program") described in that certain registration
statement on Form S-3 (File No. 333-112244) filed on January 27, 2004 (the
"Registration Statement") with the Securities and Exchange Commission (the
"SEC") under the Securities Act of 1933, as amended (the "Act"), as amended by
Amendment No. 1 thereto, filed with the SEC on March 16, 2004; by Amendment No.
2 thereto, filed with the SEC on May 4, 2004 and by Amendment No. 3 thereto,
filed with the SEC on July 27, 2004. The Registration Statement describes (i)
the registration and public offering of up to $2 billion, in the aggregate
principal amount of notes (the "Notes") to be issued by a series of trusts and
(ii) the registration of up to $2,000,000,000, or the equivalent amount in one
or more foreign or composite currencies, aggregate principal amount of Hartford
Life's funding agreement (such as the Contract) to be sold to the Trust
described below in connection with the issuance and sale of the Notes.
The Trust is intended to be a trust described in the prospectus (including the
prospectus supplement relating to Medium Term Notes), both dated September 7,
2004, and included in the Registration Statement (together, the "Prospectus").
Once duly formed, the Trust is authorized to issue no more than a single series
of Notes and to take certain other actions necessary or appropriate to such
issuance. The proceeds from the sale of each series of Notes are to be used by
the Trust to purchase separately from Hartford Life a funding agreement, such as
the Contract listed above. As described in the Prospectus, the Notes issued by
the Trust are to be secured by the assignment to an indenture trustee of its
Contract and all proceeds from its Contract.
In connection with the foregoing, I, or persons under my supervision, have
examined an original or copies certified to my satisfaction as being a true copy
of the certificate of incorporation and bylaws of Hartford Life, and have
reviewed such other corporate records, instruments and other documents as deemed
necessary or appropriate in order to render the opinions set forth herein. I, or
persons under my supervision, have also reviewed, in unexecuted form, the
Contract.
In the examination of various documents, instruments and records, including
without limitation any referred to in this opinion letter, and in connection
with the opinions herein expressed, I have assumed the competency of all
individual signatories, the genuineness of all signatures, submitted as
certified, photostatic or electronic copies, and the authenticity of the
originals of such latter documents.
Based upon and subject to the foregoing, I am of the opinion that, as of the
date of this letter:
(a) Hartford Life is a Connecticut domiciled insurance company
duly organized, validly existing and in good standing under
the laws of Connecticut as a corporation formed for the
purposes of conducting the business of a life insurance
company. Hartford Life has the necessary corporate authority
to enter into each of the Contracts and to perform its
respective obligations thereunder.
(b) Hartford Life has obtained licenses from the states of
Connecticut and Delaware, which authorize Hartford Life to
conduct life insurance business and to issue insurance
contracts (including the Contract) in those states. Hartford
Life has all necessary authority to execute and to issue such
Contracts under applicable Connecticut and Delaware insurance
laws and regulations and orders and interpretations of the
Connecticut Insurance Department and the Delaware Insurance
Department.
(c) The issuance of the Contract has been approved by all
necessary corporate action on the part of Hartford Life; and
the Contract constitutes the legal, valid and binding
obligation of Hartford Life, enforceable in accordance with
its terms, except to the extent enforceability thereof may be
limited by (i) bankruptcy, insolvency, fraudulent conveyances,
fraudulent transfers, reorganization, or moratorium or other
similar laws now or hereafter in effect relating to or
effecting the enforcement of creditors' rights or remedies
generally and (ii) general principles of equity (regardless of
whether such enforcement is considered in a proceeding in
equity or at law), including the discretion of the court
before which any proceeding may be brought, concepts of good
faith, reasonableness and fair dealing.
I consent to the filing of this opinion with the Securities and Exchange
Commission as an exhibit to the Current Report of Hartford Life on Form 8-K and
to the use of my name under the heading "Legal Matters" in the Prospectus and to
the incorporation by reference of this opinion and consent as exhibits to the
Registration Statement filed in accordance with Rule 462(b) under the Act. In
giving the foregoing consents, I do not thereby admit that I come within the
category of persons, whose consent is required under Section 7 of the Securities
Act of 1933, as amended, or the rules and regulations of the Securities and
Exchange Commission thereunder.
Very truly yours,
/s/ Christine Hayer Repasy
General Counsel
Hartford Life Insurance Company
Hartford Life Insurance Companies
200 Hopmeadow Street
Simsbury, CT 06089
Mail: P.O. Box 2999
Hartford, CT 06104-2999