BOSTON, March 14, 2017 /PRNewswire/ -- John Hancock today launched a new Accumulation indexed universal life (IUL) product series with improved income potential, expanded indexed account options and a new performance report to help policyholders achieve their retirement goals and other financial objectives.
The new Accumulation IUL features a simple, straightforward product design that provides policyholders with life insurance protection, along with the opportunity to increase cash value by linking to the performance of a diverse range of indexed account options – without risking market loss. For the first time, policyholders now have access to international markets with the Capped Hang Seng Indexed Account.
"As more and more baby boomers head toward retirement, many are concerned that they'll outlive their savings," said Michael Doughty, President, John Hancock Insurance. "Innovative products like Accumulation IUL are designed to maximize cash value accumulation and provide an attractive solution to help more Americans meet their retirement planning needs."
The new Annual Performance Summary report provides a snapshot of the policy's actual performance to help advisors ensure that their clients stay on track to meet their long-term retirement income goals.
Accumulation IUL with Vitality policyholders have the opportunity to further enhance their retirement income and earn valuable rewards for the everyday things they do to stay healthy like walking, eating well and getting regular check-ups. In fact, the healthier their lifestyle, the greater their rewards, including $600 in savings on healthy food purchases1, as well as the opportunity to earn an Apple Watch Series 22 by exercising regularly. John Hancock is also giving every new policyholder a complimentary Fitbit® to help them get started.
About John Hancock Financial and Manulife
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Assets under management and administration by Manulife and its subsidiaries were $977 billion (US $728 billion) as at December 31, 2016. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife can be found on the Internet at manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.
1. HealthyFood savings are based on qualifying purchases and may vary based on the terms of the John Hancock Vitality program.
2. Apple Watch Series 2 can be ordered for an initial payment of $25 plus tax and over the next two years, monthly payments are based on the number of workouts completed. An iPhone 5 or later is required to use Apple Watch Series 2. The Retail Installment Agreement with the Vitality Group will need to be signed electronically at checkout. Apple is not a participant in or sponsor of this promotion. Apple Watch is a registered trademark of Apple Inc. All rights reserved. Please note: Apple Watch Series 2 program is not available in New York.
Hang Seng Index® is a trademark of Hang Seng Data Services Limited and has been licensed for use by John Hancock. The product is not sponsored, endorsed, sold or promoted by the licensor of the index and they make no representation regarding the advisability of purchasing the Product. You cannot invest directly in the Index.
The policy does not directly participate in any stock or equity investments.
Insurance policies and/or associated riders and features may not be available in all states. Some riders may have additional fees and expenses associated with them.
Loans and withdrawals will reduce the death benefit, cash surrender value, and may cause the policy to lapse. Lapse or surrender of a policy with a loan may cause the recognition of taxable income. Policies classified as modified endowment contracts may be subject to tax when a loan or withdrawal is made. A federal tax penalty of 10% may also apply if the loan or withdrawal is taken prior to age 59 1/2.
Vitality is the provider of the John Hancock Vitality Program in connection with the life insurance policy and Healthy Engagement Rider.
John Hancock Vitality Program rewards and discounts are only available to the person insured under the eligible life insurance policy. Rewards and discounts are subject to change and are not guaranteed to remain the same for the life of the policy.
Insurance products are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA 02210 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595. MLINY030917058
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SOURCE John Hancock Insurance