TSX/NYSE/PSE: MFC SEHK: 945
Competitive Age-100 Guarantee and Compelling Living Benefits
Offer Blend of Security and Opportunity
- Low-cost, level-pay scenarios
- No investment restrictions to maintain age-100 guarantee
(and full range of investment choices)
- Exciting living-benefit options
BOSTON, Mass., April 5, 2021 /PRNewswire/ - Today,
John Hancock, the US division of
Toronto-based Manulife (NYSE:
MFC), announced a new protection variable universal life insurance
product, Protection VUL, is now available for sale from all
approved distribution partners. Offering an age-100 death benefit
guarantee, a full range of investment options and attractive living
benefits, Protection VUL can help customers meet their long-term
goals for financial security and growth. When Protection VUL
customers pair their policy with the innovative John Hancock
Vitality Program, they also get access to tools, resources,
incentives and rewards to help them live longer, healthier
lives.
The new Protection VUL complements John
Hancock's portfolio of protection products. While Protection
UL and IUL products offer consumers an attractive combination of
strong guarantees, competitive premiums and cash value growth
potential, now Protection VUL stands out for those seeking even
stronger guarantees and consumer value, giving it traction against
market leaders.
"Our 'Protection' portfolio reflects our mission to provide
long-term value through a variety of options that help customers
address their specific goals," said Neal
Kerins, vice president, Product Development, John Hancock
Insurance. "By providing access to the equity market and a
competitive guarantee to age 100, Protection VUL offers a blend of
security and opportunity we believe will appeal to many of today's
consumers."
With optional riders for long-term care or critical illness,
Protection VUL also offers comprehensive living-benefit coverage
for added financial protection against the unexpected. Consumers
can earn additional savings and rewards for their everyday healthy
activities with the John Hancock Vitality Program, including the
chance to save up to 25% on their premiums.1
"There has never been a more important time for customers to
take control of their financial and physical health," added Mr.
Kerins. "The new Protection VUL with John
Hancock's engaging Vitality program gives customers that
exact opportunity. We fully expect to see thousands of Protection
VUL customers take advantage of Vitality to realize significant
premium savings and other rewards for their everyday healthy
activities like regular exercise and restful sleep."
Protection VUL is an effective option for insurance clients ages
35 and older who are looking for a balance of cost-effective,
guaranteed death benefit protection with equity-market growth
potential. In addition to its living benefit riders, it also offers
LifeTrack billing, which gives customers and agents a quick and
easy way to help ensure their policy stays on track to meet their
intended insurance goals.
1. Premium savings
are in comparison to the same John Hancock life insurance policy
without Vitality PLUS. The level of premium savings are cumulative
over the life of the policy and will vary based upon underwriting
status, issue age, policy type, the terms of the policy and the
Vitality Status achieved. Premiums savings are only available with
Vitality PLUS.
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About John Hancock and
Manulife
John Hancock is a
unit of Manulife Financial Corporation, a leading international
financial services group that helps people make their decisions
easier and lives better. We operate primarily as John Hancock in the
United States, and Manulife globally, including Canada, Asia
and Europe. 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 CAD$1.3 trillion (US$1.0
trillion) as of December 31,
2020. 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 more than 10 million Americans with a broad range of
financial products, including life insurance, annuities,
investments, 401(k) plans, and education savings plans. Additional
information about John Hancock may
be found at johnhancock.com.
Other Important Information
Variable universal
life insurance has annual fees and expenses associated with it in
addition to life insurance related charges (which differ with the
product chosen), including surrender charges and investment
management fees. Variable universal life insurance products are
long-term contracts and are sold by prospectus. They are subject to
market risk due to the underlying sub-accounts, and are unsuitable
as a short term savings vehicle. The primary purpose of variable
universal life insurance is to provide lifetime protection against
economic loss due to the death of the insured person. Cash values
are not guaranteed if the client is invested in the investment
accounts. There are risks associated with each investment option,
and the policy may lose value.
Please contact
1-800-827-4546 to obtain product and fund prospectuses (for
New York, contact 1-877-391-3748,
option 4). The prospectuses contains complete details on investment
objectives, risks, fees, charges and expenses as well as other
information about the investment company. Please read the
prospectuses carefully containing this and other information on the
product and the underlying portfolios and consider these factors
carefully before investing.
Insurance policies and/or associated riders and features may not
be available in all states. Protection VUL is not available in
New York.
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SOURCE John Hancock