NU Online News Service, April 29, 12:50 p.m. – John Hancock Financial Services Inc., Boston, is introducing the Performance UL universal life insurance policy.

The policy offers a flexible payment schedule along with guaranteed interest on policy assets. The product should appeal to conservative clients who want to accumulate cash without exposing policy assets to stock market volatility, Hancock says.

Hancock will also continue to sell the Medallion Gold UL policy, a universal life insurance policy for consumers who are interested mainly in low-cost, guaranteed life insurance protection.

Hancock is making the new Performance UL policy available to policyholders from birth to age 90. Underwriting classes include Super Preferred Nontobacco for extremely healthy people, and Preferred Tobacco, for healthy smokers.

Other features include a LifeCare benefit rider, which allows policyholders to use death benefits for either life insurance or long term care needs, and a rider that increases early-year cash values. The cash-value rider should appeal to business clients, Hancock says.