John Hancock Insurance Offers Improved Long-Term Care Rider On All Single Life Products

-- Enhancement Part Of Company's Ongoing Effort To Help Consumers Better Protect Their Financial Future

Mar 03, 2014, 10:00 ET from John Hancock Life Insurance

BOSTON, March 3, 2014 /PRNewswire/ -- John Hancock Insurance today announced that it has launched an improved Long-Term Care (LTC) rider that is available on many of its life insurance products. The rider now provides greater design flexibility when insuring against rising costs of long-term care.

"The need for long-term care represents one of the most significant financial risks an individual can face," said Mike Doughty, President, John Hancock Insurance. "An unexpected long-term care event can quickly deplete savings and impact financial security in retirement.  Adding the enhanced LTC rider to any of John Hancock's permanent single life products is one simple solution – providing both death benefit protection and long-term care coverage."

The new LTC rider provides consumers with more coverage for retirement planning with an increasing death benefit option, as well as more flexibility to specify the LTC coverage needed, helping balance LTC and estate planning needs.

"We are continually enhancing our portfolio to provide the financial protection and retirement solutions American families depend on," Mr. Doughty said. "Our enhanced long-term care rider is just one example of that commitment."

About John Hancock Financial and Manulife Financial
John Hancock Financial is a division of Manulife Financial, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife Financial in Canada and Asia, and primarily as 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 C$599 billion (US$563 billion) as at December 31, 2013. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at
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

Insurance policies and/or associated riders and features may not be available in all states.

The Long-Term Care (LTC) rider is an accelerated death benefit rider and may not be considered long-term care insurance in some states. There are additional costs associated with this rider. The Maximum Monthly Benefit Amount is $50,000. When the death benefit is accelerated for long-term care expenses it is reduced dollar for dollar, and the cash value is reduced proportionately.

John Hancock's Long-Term Care rider is not a Partnership Qualified product.  For more information on Partnership Qualified products, please contact your state department of insurance. For prospective policyholders in New York, this product is a life insurance policy that accelerates the death benefit for qualified long term care services and is not a health insurance policy providing long term care insurance subject to the minimum requirements of New York Law; and is not a Medicare supplement policy. 

This rider has exclusions and limitations, reductions of benefits, and terms under which it may be continued in force or discontinued. Please contact the licensed agent or John Hancock for more information, cost, and complete details on coverage.

Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02117 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.

SOURCE John Hancock Life Insurance