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John Hancock Launches New Fully Guaranteed Whole Life Insurance Product

- Offers New Payment Options (10-Pay, 15-Pay or 20-Pay) - Offers Long Term Care Rider(1) Not Typically Associated With Whole Life


- Easy to illustrate, sell and service

BOSTON, May 6 /PRNewswire-FirstCall/ -- John Hancock has launched a new, highly competitive Protection Whole Life(2) policy that combines affordable, guaranteed death benefit protection, guaranteed cash values and a long term care rider.

"The new Protection Whole Life policy occupies a niche in the industry where no comparable product currently exists," said Steve Finch, President of John Hancock Life Insurance. "This versatile product offers affordable, guaranteed(3) protection plus guaranteed cash values for both life and long term care needs -- in one easy-to-understand policy."

The new Protection Whole Life product has a wide variety of applications: it can help protect assets and facilitate wealth transfer, address business planning needs and fund charitable gifts.

In addition to fully guaranteed death benefit protection, competitive premiums and strong cash values, Protection Whole Life also offers:

-- Competitive premium payment options, including: Single-Pay, 10-Pay,

15-Pay, 20-Pay, Limited-Pay and Full-Pay;

-- An innovative LifeCare Benefit rider(1) which accelerates the death

benefit to help pay for long-term care expenses; and

-- Four Non Smoker Risk Classes, including Standard Plus Non Smoker.

"Our new Protection Whole Life product further strengthens John Hancock's position in the whole life market and reinforces our ongoing commitment to providing producers and consumers with industry-leading products," Mr. Finch said.

About John Hancock and Manulife Financial

John Hancock 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$396 billion (US$401 billion) as at December 31, 2007.

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '0945' on the SEHK. Additional information about Manulife may be found at

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, mutual funds, 401(k) plans, long term care insurance, college savings, and other forms of business insurance. John Hancock carries the highest-"AAA"-financial strength rating from Standard & Poor's Ratings Services. Additional information about John Hancock Financial may be found at

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

1. The LifeCare Benefit is an accelerated death benefit and may not be

available in all states. Maximum face amount: $5 million with LifeCare

Benefit. The LifeCare Benefit rider is 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. 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; it does not

qualify for the New York State Partnership for Long-Term Care program

and is not a Medicare supplement policy.

2. Insurance policies and/or associated riders and features may not be

available in all states.

3. Guaranteed product features are dependent upon minimum premium

requirements and the claims-paying ability of the issuer.

Policy Form: 07PROWL

Rider Forms: 08WLLTCR


SOURCE John Hancock Financial Services
Copyright©2008 PR Newswire.
All rights reserved

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