John Hancock Offers Newly Repriced Protection SIUL and SUL
From John Hancock:
NEW PROTECTION SIUL
Protection Survivorship IUL (Protection SIUL) — one of the lowest-cost survivorship indexed UL products on the market — offers the upside potential of equity-linked performance with the downside protection of a guaranteed 0% floor.
Secures cost-efficient protection for a lifetime
Offers tax-free growth potential
Provides potential for tax-free supplemental income
Provides savings and rewards for healthy living
Transition Rules
May 27, 2022 Deadline:
If seeking an informal offer — the John Hancock home office must receive a Protection SIUL '19 illustration signed by the insured and owner, and a tentative underwriting decision must be obtained by this date.
If seeking a formal offer — the John Hancock home office must receive a Protection SIUL '19 application signed by the insured and owner by this date. An illustration on the case is also required.
For a term conversion — the John Hancock home office must receive a term-conversion application signed by the insured and owner by this date.
July 22, 2022 Deadline:
By this date, John Hancock must have provided a final underwriting offer, received all administrative requirements to issue the policy and received confirmation to proceed with the 1035 Exchange (if applicable).
State Approvals
Protection SIUL has been approved in all states except California, Guam and New York.
Click here to learn more about Protection SIUL and here for more on the Barclay's Global MA indexed accounts.
NEW PROTECTION SUL
Not only is Protection Survivorship UL (Protection SUL) a key component of John Hancock’s industry-leading survivorship portfolio, it’s often the most affordable survivorship universal life product in the industry. In fact, for the top three risk classes at all ages, Protection SUL offers extremely competitive premiums in a variety of funding scenarios. That affordability — along with its strong guarantees and cash value growth potential — make it an ideal solution for two people in need of affordable death benefit protection.
Secures affordable protection for a lifetime
Offers investment stability
Offers potential for tax-free distributions
Creates protection during life
Provides savings and rewards for healthy living
Transition Rules
May 27, 2022 deadline:
If seeking an informal offer — the John Hancock home office must receive a Protection SUL '19R illustration signed by the insured and owner, and a tentative underwriting decision must be obtained by this date.
If seeking a formal offer — the John Hancock home office must receive a Protection SUL '19R application signed by the insured and owner by this date. An illustration on the case is also required.
For a term conversion — the John Hancock home office must receive a term-conversion application signed by the insured and owner by this date.
July 22, 2022 deadline:
By this date, John Hancock must have provided a final underwriting offer, received all administrative requirements to issue the policy and received confirmation to proceed with the 1035 Exchange (if applicable).
State Approvals
Protection SUL has been approved in all states except California, Guam and New York.