BOSTON John Hancock Life Insurance Co. has teamed up with the charitable trust specialist Renaissance Inc. on a charitable remainder trust program for its Signator agents to sell.
Signator is the name of Hancocks insurance agency division. The alliance is meant to help Signator agents capitalize on the growing wealth-transfer market.
Donations to charities through a charitable remainder trust generate current tax deductions and lifetime income distributions. The assets still in the trust after the customers death go to the named charities.
Renaissance, of Carmel, Ind., will help Signator agents with charitable planning and sales.
It will provide training, marketing, gift design, implementation and administration, and final charitable distribution.
A few months ago Hancock introduced a charitable remainder trust program sold through broker-dealers and banks. The servicer on that program is the charitable trust specialist WealthNet.