NU Online News Service, June 3, 2004, 4:12 p.m. EDT – The Manufacturers Life Insurance Company of New York, Valhalla, N.Y., has introduced a universal life insurance product that offers a lifetime coverage guarantee.[@@]

The new Manulife New York Survivorship UL-G policy provides guaranteed coverage during the life of the insured even if the policy’s net cash surrender value falls to zero or below, Manulife New York says.

Manulife New York, a unit of Manulife Financial Corp., Toronto, is responsible for backing the product guarantees.