TSX/NYSE/PSE: MFC SEHK: 945
BOSTON, Sept. 25,
2023 /PRNewswire/ - Today, John Hancock, a unit of Toronto-based Manulife, announced the launch
of a new Premier Benefit Indexed Universal Life (IUL) individual
product in the voluntary benefit employer space. This new permanent
life insurance product, available through the workplace, offers a
streamlined digital process for employees to receive an instant
offer for personally owned coverage.* If available through their
employer, employees may choose to enhance their protection with
optional rider coverage for long-term care needs. Additionally, all
policies will be issued with John
Hancock's industry-leading Vitality PLUS** rider, which
offers savings and rewards for the everyday things people do to
live longer, healthier, better lives.
"At John Hancock, we're committed
to helping more customers secure the financial protection they need
and to realize the many life-changing benefits of the John Hancock
Vitality Program," said Neal Kerins,
Vice President of Product Development, John
Hancock. "As companies look to retain talent in today's
competitive job market, we saw an opportunity to offer an employee
a very attractive option for their personal protection needs."
This new product offering is designed to help satisfy a broad
range of employer and employee goals while providing value
throughout the life of the policy. Features include:
- A fully digital application process from start to finish;
- Complete portability as employees fully own their policy;
- Income tax-free growth potential tied to the performance of one
S&P–linked indexed account and a Fixed Account;
- Optional long-term care protection that offers supplemental
coverage that allows employees to accelerate their policy's death
benefit in the event of a long-term care need; and
- Opportunity to participate in Vitality PLUS**, which combines
the financial protection of life insurance with a
technology-enabled program that offers education, support,
incentives, and rewards designed to help customers live
healthier.
"In this age where you can get anything from groceries to a
mortgage electronically, it's important we offer that level of ease
and convenience to our customers through a fully digital
application process," continued Kerins. "We're committed to making
it easier for our customers to obtain the quality life insurance
they need to help protect their families and reach their long-term
financial goals."
Learn more about John Hancock at
johnhancock.com/life-insurance.
About John
Hancock and Manulife
John Hancock is a unit of
Manulife Financial Corporation, a leading international
financial services provider that helps people make their
decisions easier and lives better by providing financial advice,
insurance, and wealth and asset management solutions. 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 ten million
Americans with a broad range of financial products,
including life insurance and annuities. John Hancock also supports US investors by
bringing leading investment capabilities and retirement
planning and administration expertise to individuals and
institutions. Additional information about John Hancock may be found
at johnhancock.com.
*Policy issuance is not guaranteed as any life insurance
purchase is subject to completion of an application, which may
include health questions, and underwriting approval. John Hancock may obtain additional information,
including medical records, to evaluate the application for
insurance; and after the policy is issued, to identify any
misrepresentation in the application.
** The John Hancock Vitality PLUS rider has a fee of
$2 per month and can be discontinued
at any time. If the John Hancock Vitality PLUS rider is not
included, the John Hancock Vitality GO rider, which provides a
limited suite of rewards and incentives, is included at no
additional cost.
Insurance policies and/or associated riders and features may not
be available in all states. Some riders may have additional fees
and expenses associated with them.
The life insurance policy describes coverage under the policy,
exclusions and limitations, what must be done to keep the policy
inforce, and what would cause the policy to be discontinued.
Vitality is the provider of the John Hancock Vitality Program in
connection with policies issued by John
Hancock. John Hancock Vitality Program rewards and discounts
are available only to the person insured under the eligible life
insurance policy, may vary based on the state where the policy was
issued, are subject to change and are not guaranteed to remain the
same for the life of the policy.
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.
Policy Form Series: ICC23 23PBIUL; 23PBIUL
MLINY091823278-1
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SOURCE John Hancock