A U.S. unit of Manulife Financial Corp. is introducing a universal life insurance policy.

John Hancock Life Insurance Company, Boston, says the new Accumulation UL policy is designed for business owners and wealthy individuals who want to maximize cash value.

Policyholders will get an interest rate pegged to the performance of an investment portfolio managed by Hancock.

The policy also offers a 5-year no-lapse guarantee and “zero net cost” loans, according to Hancock, a subsidiary of Manulife, Toronto.

One policy option is a return-of-premium rider.

Another rider, an optional LifeCare Benefit rider, can accelerate payment of the death benefit for insureds who need help with paying for long term care.

Hancock introduced a similar variable universal life product, the Accumulation VUL policy, in January.