John Hancock Life Insurance Company is trying to whet customers’ interest in its fixed annuities.[@@]
Hancock, Boston, is introducing a first-year bonus interest rate for purchasers of its Guaranteed Principal Annuity Plus fixed-rate annuity.
The annuity comes in 1-year, 3-year and 6-year versions.
Customers who pay less than $25,000 in premiums will get a 1% bonus during the first year an annuity is in effect. The bonus is 2% for customers who pay $25,000 to $99,999 in premiums and 3% for customers who pay at least $100,000 in premiums.
Hancock is a unit of Manulife Financial Corp., Toronto.