The company said that the new product which is similar to its companion product, Accumulation IUL, will offer allocation options across the risk-reward spectrum.
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Commenting on the launch, John Hancock Life Insurance president and general manager, Michael Doughty, said: "While most Indexed UL products focus on cash value accumulation, John Hancock’s new Protection IUL takes a different approach,"
"It combines the upside potential of Indexed UL with the benefit of some of the lowest premiums in the industry. The addition of Protection IUL provides more sales opportunities for advisors and more IUL choices for consumers," Doughty said.
Founded in 1862, John Hancock Life Insurance provides various insurance and investment products, and services to retail and institutional customers in North America. The company operates in four segments: protection, wealth management, guaranteed and structured financial products, and corporate and other.
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