Navigation Links
John Hancock Launches Current Assumption Universal Life Policy
Date:6/3/2009

- Low-Cost Permanent Death Benefit Coverage

- Lower Premiums at Younger Ages

- 10-Year No-Lapse Guarantee

BOSTON, June 3 /PRNewswire-FirstCall/ -- John Hancock Life Insurance today announced the launch of its new Performance UL product--a current assumption universal life insurance product that offers low-cost permanent death benefit coverage with the security of a 10-Year Extended No-Lapse Guarantee.

The new product remains very competitive at older ages, but now also appeals to younger clients seeking affordable death benefit protection. It addresses a variety of personal and business insurance needs, including estate planning, income protection for families, and key employee or partner or owner protection for businesses.

"The new Performance UL demonstrates John Hancock's dedication to providing competitive, affordable permanent life insurance products to a broad range of clients, at a time when they need it most," said Steve Finch, President, John Hancock Life Insurance. "Performance UL also is an excellent alternative to a traditional guaranteed product since it offers some of the most competitive premiums in the industry."

In addition to competitive premiums, Performance UL offers an assortment of features and riders that further address clients' insurance needs. These include:

  • A 10-Year No-Lapse Guarantee, protecting the policy from default should the cash surrender value fall to zero;
  • LifeCare and LifeCare Max riders, providing clients death benefit acceleration or continuation to help pay for long term care expenses; and
  • A Cash Value Enhancement rider, helping reduce the charge to business earnings of an employee benefit or business succession plan when the policy is owned by a corporation.

About John Hancock Financial and Manulife Financial Corporation

John Hancock Financial is a unit of Manulife Financial Corporation (the Company), a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and in most of Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$405.3 billion (US$321.7 billion) as at March 31, 2009.

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, fixed and variable annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at www.johnhancock.com.

Guaranteed product features are dependent upon minimum premium requirements and the claims-paying ability of the issuer.

The No-Lapse Guarantee (NLG) is automatically included with Protection VUL & Protection SVUL. The Extended No-Lapse Guarantee (ENLG) requires an additional cost; it is optional on Protection VUL and is automatically included on Protection SVUL. Both riders guarantee that your policy will not default, even if the cash surrender value falls to zero or below, as long as either the NLG or ENLG cumulative premium test (performed at the point of lapse) is satisfied. In the absence of an ENLG guarantee to the insured's (or youngest insured if survivorship) attained age 121, at the end of the ENLG period the policy value may be insufficient to keep the policy in force. Thereafter, premiums significantly higher than the Extended No-Lapse Guarantee premium may be required to keep the policy in force. If you pay only the premium to satisfy the NLG or ENLG, you may be foregoing the advantage of building up policy value. In Illinois the ENLG is called "Death Benefit Protection." Loans, withdrawals, or the addition of supplemental coverage can result in the loss of the ENLG.

The LifeCare Benefit and LifeCare Benefit Max (LMAX) riders are accelerated death benefits and may not be available in all states. Maximum face amount: $5 million with LifeCare Benefit; $1 million with LMAX rider. The LifeCare Benefit riders are not considered long term care insurance in some states. When the policy death benefit is accelerated for long term care expenses, the death benefit is reduced dollar for dollar, and the cash value is reduced proportionately. There may be additional costs associated with this rider. The LMAX rider is not available in all states including New York. Please go to www.jhsalesnet.com for a complete list of up-to-date state approvals.

For prospective policyholders in New York, this product is a life insurance policy that accelerates the death benefit for qualified long term care services and is not a health insurance policy providing long term care insurance subject to the minimum requirements of New York Law, does not qualify for the New York State Long Term Care Partnership program and is not a Medicare supplement policy.

Products and features may not be available in all states. Some riders may have additional costs.

Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.


'/>"/>
SOURCE John Hancock Life Insurance
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. John Hancock Launches Defined Benefit Program
2. Kiplingers Long-Term Care Consumer Video Sponsored by John Hancock Life Insurance Company Wins National Aegis Award
3. John Hancocks EZ Route Post-Enrollment Education Program Wins 2008 Insight Award for Customer Advocacy in Financial Services
4. John Hancock Launches New Fully Guaranteed Whole Life Insurance Product
5. John Hancock Joins LifePlans, Inc. and the Department of Health and Human Services to Pilot Fall Prevention Program for Seniors
6. John Hancock Financial Network Offers Bank Owned Life Insurance Resource to Its Independent Career Firms Nationally
7. John Hancock Expands LTC Training Effort with ClearCert High Usage By Producers and Streamlines Process for Insurers
8. John Hancock LTC Enhances Producer Website
9. Feeding America, Martin Luther King III, David Arquette, Josh Groban and Herbie Hancock Join Forces to Combat Hunger in America on Presidential Inaugural Committee National Day of Service
10. Over 4,000 Hustle Up the Hancock to Fight Lung Disease
11. John Hancock #1 in Long-Term Care Insurance Industry Sales in 2008
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2017)... ... June 27, 2017 , ... PR News is ... case studies guidebook. This guidebook offers an excellent branding and exposure opportunity for ... case studies and how-to’s that fall into the following categories:, ...
(Date:6/27/2017)... ... 27, 2017 , ... Today, June 27th is PTSD Awareness Day. Over half ... will receive adequate care due to lack of effective treatments, fear of stigma or ... And left untreated, veterans are at an increased risk for self-destructive behavior, including alcohol/drug ...
(Date:6/26/2017)... ... June 26, 2017 , ... Antoine Dental Center is now offering various types of ... and act as a support for prosthetic teeth, such as crowns, bridges, or dentures. An ... becomes a sturdy, lasting new root for the tooth. , Several types of dental ...
(Date:6/26/2017)... ... ... LARKR™ , an innovative new smartphone app providing on-demand talk therapy, ... join its online treatment platform. , Launching in just a few days, LARKR ... of people in need nationwide, and to supplement their traditional practices. Joining this network ...
(Date:6/25/2017)... ... ... Create a feel-good lyric music video in Final Cut Pro X with ProLyric from Pixel ... in the lyrics to any song. ProLyric flies in the text for each section and ... be added modularly for optimal control. ProLyric makes editing any music video or text-based production ...
Breaking Medicine News(10 mins):
(Date:6/12/2017)... , June 12, 2017 Kineta, Inc., a ... announced Kineta Vice President of R&D and Head ... the Pandemic Preparedness for the Northwest and Beyond ... held on June 14, 2017 from 8:30-10:30 AM PDT at ... Dr. Bedard will be joined by ...
(Date:6/8/2017)... , June 8, 2017  Less than a month ... more than 200,000 companies, including hospital networks, in over ... as one of the largest online extortion attempts ever ... healthcare market, it is imperative that providers understand where ... data from this — and many other very real ...
(Date:6/7/2017)... -- Diplomat Specialty Infusion Group, a brand of Diplomat Pharmacy, Inc. (NYSE: ... Iowa location. The Iowa ... ISO 7 cleanroom—the standard needed to compound intravenous (IV) nutrition formulations. ... pollutants. "Our new cleanroom will ... our Iowa patients," said Phil Rielly ...
Breaking Medicine Technology: