John Hancock Announcing Accumulation IUL Enhancements

John Hancock recently announced multiple enhancements to Accumulation IUL 23, including access to a new Barclays Global MA Plus Indexed Account, which offers a higher par rate.

Note the August 11th deadline if seeking an informal offer, formal offer or term conversion. Read on for the details!

Featuring updates that further strengthen its income solves and overall versatility, John Hancock’s Accumulation IUL 23 continues to take the lead in the indexed universal life (IUL) accumulation space.

What's New?

• Improved income potential — giving clients an even better supplemental income solution

• Access to new Barclays Global MA Plus Indexed Account — providing a higher participation rate and improved performance potential

• Increased participation rate on Barclays Fixed Index Loans — helping secure greater upside potential with a higher participation rate and a guaranteed loan charge of 5%

• Lowered enhanced target premium threshold (now 2X target) — offering a greater opportunity for enhanced compensation

State Approvals

Accumulation IUL 23 has been approved in all states except SD, GU, NY & SC.

Transition Rules

August 11, 2023 deadline:

• If seeking an informal offer — the John Hancock home office must receive an Accumulation IUL 21R 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 an Accumulation IUL 21R 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.

October 6, 2023 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).