John Hancock Introduces Life Insurance with Optional LTC Protection to Employers

Available through the workplace, the new IUL product offers a streamlined digital process for employees to receive an instant offer for personally owned coverage.

(Image source: John Hancock website.)

John Hancock (Boston), a unit of Toronto-based Manulife, announced the launch of a new Premier Benefit Indexed Universal Life (IUL) individual product in the voluntary benefit employer space. This new permanent life insurance product, available through the workplace, offers a streamlined digital process for employees to receive an instant offer for personally owned coverage, according to a John Hancock statement. If available through their employer, employees may choose to enhance their protection with optional rider coverage for long-term care needs. Additionally, all policies will be issued with John Hancock’s Vitality PLUS rider, which offers savings and rewards healthy lifestyle choices.

Neal Kerins, VP, Product Development, John Hancock.

“At John Hancock, we’re committed to helping more customers secure the financial protection they need and to realize the many life-changing benefits of the John Hancock Vitality Program,” comments Neal Kerins, VP, Product Development, John Hancock. “As companies look to retain talent in today’s competitive job market, we saw an opportunity to offer an employee a very attractive option for their personal protection needs.”

The carrier describes the new product offering as designed to help satisfy a broad range of employer and employee goals while providing value throughout the life of the policy. Features include:

  • A fully digital application process from start to finish;
  • Complete portability as employees fully own their policy;
  • Income tax-free growth potential tied to the performance of one S&P–linked indexed account and a Fixed Account;
  • Optional long-term care protection that offers supplemental coverage that allows employees to accelerate their policy’s death benefit in the event of a long-term care need; and
  • Opportunity to participate in Vitality PLUS, which combines the financial protection of life insurance with a technology-enabled program that offers education, support, incentives, and rewards designed to help customers live healthier.

“In this age where you can get anything from groceries to a mortgage electronically, it’s important we offer that level of ease and convenience to our customers through a fully digital application process,” adds Kerins. “We’re committed to making it easier for our customers to obtain the quality life insurance they need to help protect their families and reach their long-term financial goals.”

How John Hancock Incentivizes Customers to Live Longer, Healthier Lives

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at or (503) 936-2803.

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