John Hancock has launched two survivorship variable universal life products.
Accumulation Survivorship VUL and Protection Survivorship VUL build upon Hancock's single life predecessors, Accumulation VUL and Protection VUL. The new products are positioned to allow Hancock's variable life insurance portfolio to more precisely meet client needs.
Accumulation SVUL is designed for clients who want to accumulate cash value as a source of supplemental income for two lives. Protection SVUL is designed for clients who want guaranteed lifetime premiums with growth potential offered by the equity markets.
Boston's Hancock is a unit of Toronto's Manulife Financial Corp., which had $370 billion of assets under management as of March 31. The new products were introduced on Monday.
