John Hancock is offering a new survivorship universal life insurance policy.
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Protection SUL-G1 is designed for customers who need lifetime guaranteed death benefit coverage for two lives. It offers the flexibility to specify the duration of the death benefit guarantee - from 15 years to lifetime - to ensure that customers pay only for the protection they need. A variety of riders and features further address business and personal insurance needs. They include a return-of-premium rider and an estate-preservation rider.
John Hancock, a Boston subsidiary of Manulife Financial Corp. of Toronto, announced the product Monday. Manulife had $319 billion of assets under management on Dec. 31.
