John Hancock Insurance has launched an enhanced variable universal life insurance product, Accumulation VUL, providing clients with a flexible solution to help them meet their protection and wealth planning goals.
Accumulation VUL, designed with pre-retirees in mind, offers affordable death benefit protection plus the potential for cash value accumulation to help supplement retirement income, fund college or meet business planning needs.
Clients can choose from a diversified range of underlying investment accounts that represent nearly every major asset class and investment style, or opt for the simplicity and automatic diversification offered by John Hancock’s Lifestyle MVP Portfolios.
"Through ongoing product innovation, John Hancock Insurance is committed to helping clients keep the promises they make to themselves and the people most important to them. The enhanced Accumulation VUL product is another example of our commitment," said Mike Doughty, president, John Hancock Insurance.
"With its tax-deferred cash value accumulation and tax-favored treatment of policy withdrawals, Accumulation VUL can be an important part of a client’s diversified financial strategy."
Consumers also have the option of adding John Hancock’s VUL TargetTrack, an allocation planning tool that allows clients to set an allocation schedule that will automatically change over time based on their unique policy needs and investment objectives.
"John Hancock Insurance is always working to enhance its product portfolio to help clients secure their financial future," added Mr. Doughty.