NU Online News Service, Oct. 20, 2003, 12:41 p.m. EDT – The Manufacturers Life Insurance Company (U.S.A.), Boston, says it is cutting prices up to 19% for some buyers of its Manulife UL-LC universal life policy.
The pricing change means that the Manulife UL-LC policy now provides more affordable death benefit protection at more ages, Manulife says.
In July, Manulife introduced the Manulife UL-G policy, a universal life policy that offers lifetime guarantees.
The Manulife UL-G policy guarantees coverage for the life of the insured, even if the policy’s net cash surrender value falls to zero or below, Manulife says.
Manulife is a unit of Manulife Financial Corp., Toronto.