new products I life insurance Protection UL Product with New Benefits Makes its Debut

CHINNAPONG/SHUTTERSTOCK.COM

By Ayo Mseka

John Hancock Insurance has 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 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.

“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 No. 1 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.

Additional information about John Hancock may be found at johnhancock.com.

(Protection UL policies automatically include a no-lapse guarantee called Death Benefit Protection. This feature guarantees the policy will not default, even if the cash surrender value falls to zero or below, provided the Death Benefit Protection Value remains greater than zero and policy debt never exceeds the Policy Value. Once terminated, the Death Benefit Protection feature cannot be reinstated.) HealthyFood savings are based on qualifying purchases and may vary based on the terms of the John Hancock Vitality program.