Annexus partners with John Hancock to bolster IUL product

Annexus is combining its indices with John Hancock's longstanding life insurance expertise to bring a retooled indexed universal life product to market.

One of the nation's leading independent retirement product design and distribution companies, Annexus announced the unique partnership in a news release yesterday.

John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance, and is a leader in the behavioral insurance space with its unique Vitality program.

This collaboration aims to enhance John Hancock's Protection IUL product by integrating Annexus' indices and the all-new PRISM Booster Strategy, offering consumers a wider range of indexed account options to meet their needs, the release said.

"As Annexus continues to grow and push the boundaries of what's possible in life insurance and retirement planning, it only made sense to work with John Hancock, one of the most prestigious and respected players in the protection IUL space," says Ron Shurts, co-founder and CEO, Annexus. "We're excited about bringing Annexus innovation to this life insurance leader and our distribution partners."

John Hancock Life Insurance Co. is a Boston-based insurer and one of the oldest in the United States. Established April 21, 1862, it was named in honor of John Hancock, a prominent American Patriot.

John Hancock ranked 11th in first-quarter life insurance premium sales with $107 million, according to LIMRA.

"This collaboration with Annexus enables us to expand our indexed account offerings to continue to meet our customers' evolving needs," says Neal Kerins, vice president of product development, John Hancock. "Our work with Annexus will also extend the reach of John Hancock's Vitality Program, a solution that offers long-term financial protection as well as significant savings and rewards customers for steps taken towards a longer, healthier, better life."

This report compiled by InsuranceNewsNet staff.