Filed pursuant to Rule 424(b)(2)
File No. 333-130089
Pricing Supplement No. 2 dated April 3, 2006.
(To Prospectus dated April 3, 2006 and Prospectus
Supplement dated April 3, 2006)
This Pricing Supplement consists of 2 pages.
Hartford Life Insurance Company
Depositor
Fixed Rate IncomeNotes(sm)(that are also asset-backed securities)
Issued through and Obligations of
Hartford Life Global Funding Trust 2006-038
(Issuing Entity)
5.50% Callable Notes due October 15, 2011
The description in this pricing supplement of the particular terms of the 5.50%
IncomeNotes(sm) (that are also asset-backed securities) offered hereby and the
Funding Agreement sold by Hartford Life Insurance Company to the Trust specified
herein supplements the description of the general terms and provisions of the
notes and the funding agreements set forth in the accompanying prospectus and
prospectus supplement, to which reference is hereby made.
PROVISIONS RELATING TO THE NOTES
Trade Date: April 10, 2006
Interest Rate: 5.50% Issuance Date: April 13, 2006
Price to Public: 100% Stated Maturity Date: October 15, 2011
Agent's Discount: 1.05% Initial Interest Payment Date: October 15, 2006
CUSIP Number: 41659FJM7 Interest Payment Frequency: Semi-Annually
Day Count Convention: 30/360 Regular Record Dates: 15 days prior to any Interest
Payment Date.
Optional Redemption: Yes [X] No [ ] The Survivor's Option [X] is [ ] is not available
Optional Redemption Date: April 15, 2008 Annual Put Limitation: $1 million or 1%
or any Interest Payment Date thereafter. Individual Put Limitation: $250,000
Initial Redemption Percentage: 100% Trust Put Limitation: N/A
Annual Percentage Reduction: N/A
Redemption may be: [X] In whole only. Authorized Denominations: $1,000 integral amounts.
[ ] In whole or in part.
Securities Exchange Listing: None. Special Tax Considerations: None.
Other Provisions Relating to the Notes: None.
Agents : Bear, Stearns & Co. Inc., A.G. Edwards & Sons, Inc., Banc of America
Securities LLC, Charles Schwab & Co., Inc., Citigroup, Fidelity Capital Markets
Services, a division of National Financial Services, LLC, Merrill Lynch & Co.,
Morgan Stanley, Piper Jaffray & Co., Raymond James, RBC Dain Rauscher, Inc.,
Scott & Stringfellow, Inc., UBS Financial Services, Inc., Wachovia Securities
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INFORMATION RELATING TO THE FUNDING AGREEMENT
Funding Agreement Provider: Hartford Life Insurance Company
Interest Rate: 5.50% Effective Date: April 13, 2006
Funding Agreement: FA-406038 Stated Maturity Date: October 15, 2011
Day Count Convention: 30/360 Initial Interest Payment Date: October 15, 2006
Special Tax Considerations: None. Interest Payment Frequency: Semi-Annually
Optional Redemption: Yes [X] No [ ] Survivor Option: Under the Funding
Optional Redemption Date: April 15, 2008 Agreement, Hartford Life Insurance
or any Interest Payment Date thereafter. Company [X] is [ ] is not required to
Initial Redemption Percentage: 100% provide the Trust with amounts it needs to
Annual Percentage Reduction: N/A honor valid exercises of the Survivor's
Redemption may be: [X] In whole only. Option.
[ ] In whole or in part.
Other Provisions Relating to the Funding
Agreement: None.
INFORMATION PERTAINING TO THE RATINGS OF THE NOTES AND THE FUNDING
AGREEMENT
It is anticipated that, as of April 13, 2006, the Notes will be rated by the
indicated rating agencies as follows:
Standard & Poor's: AA- Moody's: Aa3
A.M. Best: aa- Fitch: AA
The Moody's rating also extends to the Program under which the Notes are issued.
It is anticipated that, as of April 13, 2006, the Funding Agreement will be
rated by the indicated rating agencies as follows:
Standard & Poor's: AA- Moody's: Aa3
A.M. Best: aa- Fitch: AA
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