John Hancock Financial Services Inc., a Boston subsidiary of Manulife Financial Corp., said it has enhanced its guaranteed death benefit variable universal life insurance policy by adding an extended no-lapse guarantee rider.
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The new early funding option allows clients to meet the premium requirement for guaranteed death benefit coverage within 10 policy years.
The policy, Protection VUL, is designed for clients who want guaranteed death benefit protection and the opportunity for cash accumulation for future needs.
Manulife had $341 billion of assets under management as of Sept. 30. The enhancement was announced last week.
