Combines Latest in Design Flexibility with Strong Cash Accumulation
BOSTON, March 31 /PRNewswire-FirstCall/ -- Building on its industry
leadership in the survivorship life insurance market, John Hancock unveiled a
new product, Performance Survivorship Variable Universal Life (SVUL). This
product is ideal for clients looking for survivorship insurance with growth
potential to meet their wealth transfer or business planning needs.
The new second-to-die variable universal life insurance product combines
the latest in design flexibility with strong cash accumulation both in short-
pay scenarios, where clients pay premiums for a limited period, and when
clients want to highly fund their policy to maximize cash accumulation. In
highly funded cases, Performance SVUL offers some of the most competitive cash
accumulations in the industry.
"This strong and competitive survivorship variable universal life product
offers tremendous opportunities for advisors and their clients," says Robert
A. Cook, Executive Vice President, John Hancock Life Insurance. "Performance
SVUL will keep John Hancock at the forefront of this highly competitive
market."
The new product offers an outstanding selection of investment options
managed by internationally recognized fund managers. The new product offers
Super Preferred Non Smoker and Preferred Smoker risk classes, and loan
provisions for efficient income distribution, if desired.
A variety of riders also is available to further customize Performance
SVUL for specific clients needs, including:
* Enhanced Cash Value Rider -- typically used in business cases for
accounting purposes to reduce charges to earnings
* Policy Split Option Rider, which allows policy to be split into two
equal single life policies without evidence of insurability in the
event of divorce or significant tax law change
About John Hancock and Manulife Financial
John Hancock is a unit of Manulife Financial Corporation, a leading
Canadian-based financial services group serving millions of customers in 19
countries and territories worldwide. Operating as Manulife Financial in Canada
and most of Asia, and primarily through John Hancock in the United States, the
Company offers clients a diverse range of financial protection products and
wealth management services through its extensive network of employees, agents
and distribution partners. Funds under management by Manulife Financial and
its subsidiaries were Cdn$348 billion (US$289 billion) as at December 31,
2004. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE,
and under '0945' on the SEHK. Manulife Financial can be found on the Internet
at http://www.manulife.com.
The John Hancock unit, through its insurance companies, comprises one of
the largest life insurers in the United States. John Hancock offers a broad
range of financial products and services, including whole life, term life,
variable life, and universal life insurance, as well as college savings
products, fixed and variable annuities, long-term care insurance, mutual funds
and various forms of business insurance.
Insurance products are issued by the following John Hancock insurance
companies: John Hancock Life Insurance Company, John Hancock Variable Life
Insurance Company*, John Hancock Life Insurance Company (U.S.A.)* and John
Hancock Life Insurance Company of New York.
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