John Hancock, the US division of Toronto-based Manulife, 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.