John Hancock Meets Strong Market Demand with New Protection Variable Life Insurance Product

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Competitive Age-100 Guarantee and Compelling Living Benefits Offer Blend of Security and Opportunity

• Low-cost, level-pay scenarios
• No investment restrictions to maintain age-100 guarantee (and full range of investment choices)
• Exciting living-benefit options

BOSTON, Mass., April 5, 2021 /PRNewswire/ - Today, John Hancock, the US division of Toronto-based Manulife (NYSE: MFC), announced a new protection variable universal life insurance product, Protection VUL, is now available for sale from all approved distribution partners. Offering an age-100 death benefit guarantee, a full range of investment options and attractive living benefits, Protection VUL can help customers meet their long-term goals for financial security and growth. When Protection VUL customers pair their policy with the innovative John Hancock Vitality Program, they also get access to tools, resources, incentives and rewards to help them live longer, healthier lives.

The new Protection VUL complements John Hancock's portfolio of protection products. While Protection UL and IUL products offer consumers an attractive combination of strong guarantees, competitive premiums and cash value growth potential, now Protection VUL stands out for those seeking even stronger guarantees and consumer value, giving it traction against market leaders.

"Our 'Protection' portfolio reflects our mission to provide long-term value through a variety of options that help customers address their specific goals," said Neal Kerins, vice president, Product Development, John Hancock Insurance. "By providing access to the equity market and a competitive guarantee to age 100, Protection VUL offers a blend of security and opportunity we believe will appeal to many of today's consumers."

With optional riders for long-term care or critical illness, Protection VUL also offers comprehensive living-benefit coverage for added financial protection against the unexpected. Consumers can earn additional savings and rewards for their everyday healthy activities with the John Hancock Vitality Program, including the chance to save up to 25% on their premiums.¹

"There has never been a more important time for customers to take control of their financial and physical health," added Mr. Kerins. "The new Protection VUL with John Hancock's engaging Vitality program gives customers that exact opportunity. We fully expect to see thousands of Protection VUL customers take advantage of Vitality to realize significant premium savings and other rewards for their everyday healthy activities like regular exercise and restful sleep."

Protection VUL is an effective option for insurance clients ages 35 and older who are looking for a balance of cost-effective, guaranteed death benefit protection with equity-market growth potential. In addition to its living benefit riders, it also offers LifeTrack billing, which gives customers and agents a quick and easy way to help ensure their policy stays on track to meet their intended insurance goals.

About John Hancock and Manulife
John Hancock is a unit of Manulife Financial Corporation, a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States, and Manulife globally, including Canada, Asia and Europe. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. Assets under management and administration by Manulife and its subsidiaries were CAD$1.3 trillion (US$1.0 trillion) as of December 31, 2020. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.
One of the largest life insurers in the United States, John Hancock supports more than 10 million Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and education savings plans. Additional information about John Hancock may be found at johnhancock.com.

Other Important Information
Variable universal life insurance has annual fees and expenses associated with it in addition to life insurance related charges (which differ with the product chosen), including surrender charges and investment management fees. Variable universal life insurance products are long-term contracts and are sold by prospectus. They are subject to market risk due to the underlying sub-accounts, and are unsuitable as a short term savings vehicle. The primary purpose of variable universal life insurance is to provide lifetime protection against economic loss due to the death of the insured person. Cash values are not guaranteed if the client is invested in the investment accounts. There are risks associated with each investment option, and the policy may lose value.
Please contact 1-800-827-4546 to obtain product and fund prospectuses (for New York, contact 1-877-391-3748, option 4). The prospectuses contains complete details on investment objectives, risks, fees, charges and expenses as well as other information about the investment company. Please read the prospectuses carefully containing this and other information on the product and the underlying portfolios and consider these factors carefully before investing.

Insurance policies and/or associated riders and features may not be available in all states. Protection VUL is not available in New York.

Some riders may have additional fees and expenses associated with them. Refer to the product prospectus for additional information.

Guaranteed product features are dependent upon minimum premium requirements and the claims-paying ability of the issuer. Protection VUL policies automatically include a no-lapse guarantee called Death Benefit Protection. This feature guarantees that the policy will not default, even if the cash surrender value falls to zero or below, provided that the Death Benefit Protection Value remains greater than zero and policy debt never exceeds the Policy Value. The no-lapse guarantee under the Death Benefit Protection has a maximum duration to age 121. The duration of the no-lapse guarantee coverage may be less, depending upon the funding level chosen by the policyholder. The NLG duration is stated in the contract and reflected in the illustration’s guaranteed net death benefit column. At the end of the NLG duration, premiums greater than those originally illustrated may be required to maintain coverage. Factors such as, but not limited to, the amount and timing of premium payments, loans, withdrawals, or other changes allowed under the contract could potentially terminate the no-lapse guarantee. Once terminated, the Death Benefit Protection feature cannot be reinstated

Vitality is the provider of the John Hancock Vitality Program in connection with policies issued by John Hancock. John Hancock Vitality Program rewards and discounts are only available to the person insured under the eligible life insurance policy, 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, and securities are offered through John Hancock Distributors LLC through other broker/dealers that have a selling agreement with John Hancock Distributors LLC, 197 Clarendon Street, Boston, MA 02117.

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SOURCE John Hancock