After The Hartford Financial Services Group Inc.'s announced that it will restructure its business, Edward D. Jones & Co. LP said it will suspend sales of Hartford's life insurance product until it receives further details, Investment News reported.

Merry Mosbacher, a principal in Edward Jones' insurance marketing unit, said the broker-dealer is waiting to see what Hartford's pullback means for advisers and clients. Last week, Hartford announced a major restructuring wherein it will run off its individual annuity business, ceasing sales after April 27, and sell its individual-life business.

Mosbacher told Investment News that Hartford is one of the biggest sellers of life insurance at Edward Jones, and the firm is a "significant distributor" for the insurer.