BOSTON, July 25, 2017 /PRNewswire/ — John Hancock today launched a new Protection variable universal life product, Protection VUL that offers significantly lower premiums and cash value growth potential, giving consumers the opportunity for affordable life insurance coverage that can help them meet their long-term financial objectives and pursue longer, healthier lives with the John Hancock Vitality program.
For the first time, Protection VUL policyholders can earn rewards and premium savings of up to 15 percent for the everyday things they do to stay healthy with the John Hancock Vitality program. In fact, the healthier their lifestyle, the greater their rewards, including $600 in annual 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® device to help them get started.
“At John Hancock, we’re focused on providing consumers with innovative solutions designed to help meet a variety of financial planning needs,” said Brooks Tingle, senior vice president, Marketing and Strategy, John Hancock Insurance. “By expanding the John Hancock Vitality offerings to include Protection VUL, we can help many more consumers better prepare for the future, while also supporting them as they take steps to lead longer, healthier lives,” said Tingle.
Protection VUL is designed for pre-retirees, and features strong death benefit protection along with cash value accumulation potential that can offer consumers flexibility to help them meet future financial goals. Policyholders can also choose from a diversified range of underlying investment accounts that represent nearly every major asset class and investment style.
The new Protection VUL offers additional attractive features including LifeTrack, John Hancock’s quick, easy and dynamic policy management solution to help clients and advisors ensure life insurance policies stay on track to meet their intended insurance goals.
About John Hancock and Manulife
John Hancock 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 $1 trillion (US $754 billion) as at March 31, 2017. 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.
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.
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.
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.
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.
Premium savings are in comparison to the same John Hancock policy without the Vitality program. Annual premium savings will vary based upon policy type, the terms of the policy, and the level of the insured’s participation in the John Hancock Vitality program.