BOSTON, Sept. 25, 2023 /CNW/ - Today, John Hancock announced the launch of a new Premier Benefit Indexed Universal Life 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."