Innovative design delivers more value with optional features including the Critical Illness Benefit and John Hancock Vitality Program
BOSTON (March 26, 2018) – John Hancock Insurance introduced an improved Protection Universal Life insurance product with extended guarantees and new optional benefits, providing consumers with coverage that offers lifetime protection tailored to meet their individual needs.
Protection UL’s guarantees, often to life expectancy and beyond, along with affordable premiums and cash value growth potential can help consumers replace lost family income and fund future expenses such as helping to pay for college or supplementing retirement savings.
Responding to consumer needs
“Seven years ago, with interest rates at near all-time lows, we designed a breakthrough product with real value that could respond to the changing needs of consumers,” said Brooks Tingle, president and CEO, John Hancock Insurance. “As of today, customers have entrusted us with $5 billion in premiums, making Protection UL our number one selling permanent life insurance product. The most recent enhancements demonstrate our ongoing commitment to offering meaningful and leading-edge solutions to financial advisors and their clients.”
With the John Hancock Vitality Program, Protection UL policyholders have the opportunity to significantly save on their annual premium and earn valuable rewards for the everyday things they do to stay healthy like walking, eating well and getting regular check-ups. In fact, the healthier their lifestyle, the greater their rewards, including $600 in annual savings on healthy food purchases, as well as the opportunity to earn an Apple Watch Series 3 by exercising regularly.
The new Protection UL also offers several attractive and innovative optional living benefit riders. The new Critical Illness Benefit provides consumers with additional financial protection when faced with a serious medical diagnosis, such as a heart attack, cancer or stroke. Another optional rider allows policyholders to accelerate their death benefit to help pay for long-term care expenses.
About John Hancock and Manulife
John Hancock is a division of Manulife Financial Corporation, a leading international financial services group that helps people achieve their dreams and aspirations by putting customers’ needs first and providing the right advice and solutions. We operate primarily as John Hancock in the United States, and Manulife elsewhere. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. Assets under management and administration by Manulife and its subsidiaries were over $1.04 trillion (US$829.4 billion) as of December 31, 2017. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.
One of the largest life insurers in the United States, John Hancock supports approximately 10.7 million Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and college savings plans. We also offer advice through Signator, a network of independent financial advisors. Additional information about John Hancock may be found at johnhancock.com.