NU Online News Service, March 25, 2003, 1:35 p.m. EST – John Hancock Financial Services Inc., Boston, has introduced Protection UL, a new universal life insurance policy.
One rider provides continuation of premium payments for insureds who become disabled.
Another rider, the LifeCare rider, lets policyholders use death benefits for insurance protection or long-term care expenses.
Purchasers also have a chance to pay up policies over a limited time period, rather than keeping up payments until age 100.
Hancock notes that it will also continue to sell an older universal life policy, the Performance UL policy.