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John Hancock Introduces Life Insurance with Optional LTC Rider to Employers

Insurance Forums Staff

This week John Hancock, a unit of Toronto-based Manulife, announced the launch of a new Premier Benefit Indexed Universal Life (IUL) individual product in the voluntary benefit employer space. The multi-life insurance product also has an available long-term care rider.

The new permanent life insurance product, available through the workplace, offers a streamlined digital process for employees to receive an instant offer for personally owned coverage.

If available through their employer, employees may choose to enhance their protection with the optional rider coverage for long-term care needs. Additionally, all policies will be issued with John Hancock’s Vitality PLUS rider, which offers savings and rewards for the everyday things people do to live longer, healthier, better lives.

“At John Hancock, we’re committed to helping more customers secure the financial protection they need and to realize the many life-changing benefits of the John Hancock Vitality Program,” said Neal Kerins, Vice President of Product Development at Boston-based John Hancock. “As companies look to retain talent in today’s competitive job market, we saw an opportunity to offer an employee a very attractive option for their personal protection needs.”

The new product offering is designed to help satisfy a broad range of employer and employee goals while providing value throughout the life of the policy. Features include:

  • A fully digital application process from start to finish
  • Complete portability as employees fully own their policy
  • Income tax-free growth potential tied to the performance of one S&P-linked indexed account and a Fixed Account
  • Optional long-term care protection that offers supplemental coverage allowing employees to accelerate their policy’s death benefit in the event of a long-term care need
  • Opportunity to participate in Vitality PLUS, which combines the financial protection of life insurance with a technology-enabled program that offers education, support, incentives, and rewards designed to help customers live healthier.

“In this age where you can get anything from groceries to a mortgage electronically, it’s important we offer that level of ease and convenience to our customers through a fully digital application process,” Kerins said. “We’re committed to making it easier for our customers to obtain the quality life insurance they need to help protect their families and reach their long-term financial goals.”

John Hancock sponsoring Jack Nicklaus at NAILBA 42

It was also announced this week that John Hancock will sponsor an appearance by golf legend Jack Nicklaus on the main stage at NAILBA 42, set for Nov. 1-3 at The Diplomat Beach Resort in Hollywood, Fla.

“The Golden Bear,” a golf icon who still holds the all-time record with 18 major championship victories, is renowned for his sportsmanship and philanthropic efforts.

Nicklaus will share his wisdom on excellence, strategy, and the pursuit of greatness.

Other main stage speakers on tap for the event include actor, author and financial expert Andy Buckley (who played David Wallace on “The Office”) sponsored by North American; negotiation expert and bestselling author Chris Voss sponsored by Pacific Life; and U.S. Ski Team alum, poker host and bestselling author Molly Bloom (subject of the movie Molly’s Game) sponsored by Proformex.

For more information about NAILBA 42, visit www.nailba.org.



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