BOSTON, Sept. 9, 2013 /PRNewswire/ -- John Hancock Insurance has launched a survivorship indexed universal life insurance product—Protection SIUL.
This new product, a complement to its single life offering, Protection IUL, is designed to meet the needs of clients looking for survivorship protection with the potential for a higher return than a UL policy and less volatility than a VUL product.
John Hancock's Protection SIUL offers a straightforward, point-to-point crediting method that is linked to the performance of the S&P 500 1® , allowing clients to capture upside potential, while providing protection in down markets. The crediting rate will never be less than 0%.
In addition to its competitive premiums, cash value accumulation potential and lengthy no-lapse guarantee, Protection SIUL offers clients a dynamic solution to estate and legacy planning needs."The introduction of Protection SIUL reaffirms John Hancock's commitment to providing innovative solutions that offer alternatives to lifetime no-lapse guarantee products," said Michael Doughty, President, John Hancock Insurance. "With the addition of this new product, whether clients are concerned with low-cost death benefit protection, focused on accumulating cash values as a source of supplemental income or seeking competitive survivorship protection, John Hancock's IUL portfolio can meet their needs." 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$567billion ( US$539 billion) as at June 30, 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 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, fixed products, mutual funds, 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 1. Excluding dividends. Standard & Poor's®, S&P®, S&P 500®, Standard & Poor's 500 and 500 are trademarks of Standard & Poor's Financial Services LLC , a subsidiary of The McGraw-Hill Companies, Inc. and have been licensed for use by John Hancock. The Product is not sponsored, sold, endorsed or promoted by Standard & Poor's, and Standard & Poor's makes no representation regarding the advisability of purchasing the Product. The S&P 500® Index is an index of 500 stocks that are generally representative of the performance of leading companies in leading industries within the U.S. You cannot invest directly in the S&P 500® Index.