John Hancock Life Insurance, a Boston unit of Toronto's Manulife Financial Corp., said it has introduced the John Hancock Accumulation UL product, a universal life policy.
The policy "performs especially well in short-pay, highly funded, cash value accumulation scenarios," the company said Tuesday.
Customers who want more flexibility can add a cash-value-enhancement rider to preserve capital. The policy also offers a five-year, no-lapse guarantee; return of premium rider; and an overloan protection rider.
Manulife had $363.5 billion of assets under management at Sept. 30.