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2007 News Releases

For Immediate Release

February 8, 2007

John Hancock Enhances Its Protection Variable Universal Life Insurance Policy

  • Extended No-Lapse Guarantee rider dramatically reduces premiums for early funded scenarios

  • Excellent cash value accumulation potential

Boston– John Hancock has enhanced its guaranteed death benefit variable universal life insurance policy, Protection VUL,1 with an improved Extended No-Lapse Guarantee rider (ENLG).

The new early funding option within the ENLG rider enables clients who opt within 10 policy years to meet the premium requirement for guaranteed death benefit coverage to realize significant savings.

“John Hancock Protection VUL's long-term death benefit guarantees, already among the most competitive in the industry in level-pay scenarios, now feature extremely competitive limited pay premiums—making it an even more attractive alternative to guaranteed UL products,” said Steve Finch, President, John Hancock Life Insurance. “Through ongoing product innovation, John Hancock Life Insurance is committed to helping clients meet the promises they make to themselves and the people most important to them. This strengthening of our Protection VUL product is another example of our commitment.”

Protection VUL is designed for clients who want guaranteed death benefit protection and the opportunity for cash accumulation for future needs such as supplemental retirement income or college funding. It also is attractive for business applications such as Key Person, Split Dollar and Non Qualified Deferred Compensation Agreements. The potential for growth also makes this policy suitable for funding estate plans or Spousal Irrevocable Life Insurance Trusts.

Protection VUL’s enhancements further strengthens John Hancock’s variable life portfolio, ensuring that the company has a competitive product to meet every client need and help them secure their financial future. The Enhanced Protection VUL offers a selection of features and optional riders1 to help meet clients’ needs including:

  • Guaranteed coverage for life;
  • Dramatically reduced premiums for limited funded scenarios with ENLG rider;
  • Competitively priced flexible guarantee durations;
  • Excellent cash value accumulation potential, and
  • Simplified investment strategies.

About John Hancock and Manulife Financial
John Hancock is a wholly-owned subsidiary 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 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$381 billion (US$341 billion) as at September 30, 2006.

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 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 life insurance, fixed and variable annuities, mutual funds, 401(k) plans, long-term care insurance, college savings and other forms of business insurance.

1.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. Refer to the product prospectus for additional information.

Guaranteed product features are dependent upon the claims-paying ability of the issuer.Please contact 1-800-827-4546 to obtain product and fund prospectuses (for New York, contact 1-877-391-3748, option 4). The prospectuses contain 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.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 unsuitable as a short-term savings vehicle. The primary purpose of variable 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.

Insurance products issued by John Hancock life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595. Securities offered throughJohn Hancock Distributors LLC, through other broker/dealers that have a selling agreement with John Hancock Distributors LLC, 197 Clarendon Street, Boston, MA 02116. 

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Brian Carmichael