John Hancock Life Insurance Co. introduced a suite of long-term care insurance products for individual investors in California.
Custom Care II California and Custom Care II California Partnership offer long term care insurance coverage, a broader range of home care options, and caregiving and care planning support for policyowners.
Under the California Partnership plan, California policyholders can protect their assets equal to the dollar value of the benefits paid out of the policy — before qualifying for Medi-Cal.
John Hancock, a unit of Manulife Financial Corp., is one of the largest providers of long-term care insurance with more than a million clients and $1.4 billion of in-force premiums.
The Boston company introduced the new products on Tuesday.
