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John Hancock Life Insurance continues to bring new and innovative products to the marketplace. Their new plan is a Variable Universal Life Insurance product that has many great features and plan designs. Variable Life plans can be very flexible products that provide a death benefit, chance for cash accumulation that can be used to supplement retirement savings and of course used in estate planning.
Please review the press release below on the new product…
BOSTON, May 5/PRNewswire-FirstCall/ — John Hancock Life Insurance today announced the launch of a new Protection VUL product, a variable universal life insurance policy that offers excellent cash value accumulation potential with strong death benefit protection options.
The policy has multiple uses, meeting the needs of both individual and business clients. Individuals may use the policy to plan for future needs, including wealth transfer or college funding. The potential for growth also makes this policy suitable for Spousal Irrevocable Life Insurance Trusts (ILITs)(1). The policy’s attractive business applications include Key Person Insurance.
“Protection VUL is an attractive well designed policy that can meet a variety of client needs,” said
Steve Finch, President, John Hancock Life Insurance. “In addition, in the midst of the ongoing challenging market conditions, Protection VUL offers valuable risk mitigating features and still provides the opportunity for cash accumulation.”