John Hancock Life Insurance Company has introduced a variable universal life insurance policy that can accommodate consumers with a wide range of views about market risk.[@@]

The company’s new Protection Variable Universal Life policy offers simpler investment options than typical VUL policies and can provide lifetime coverage, according to Hancock, Boston, a unit of Manulife Financial Corp., Toronto.

One optional policy feature is a no-lapse guarantee rider.

The investment menu includes a selection of lifestyle funds.

The policy is appropriate for use in wealth transfer cases as well as for business planning and estate planning, Hancock says.