John Hancock has introduced the Performance UL current assumption universal life insurance policy.

The product is based on the 2001 Commissioners Standard Ordinary mortality table and is designed for clients seeking low cost death benefit coverage as well as the potential to accumulate cash value, according to Hancock, Boston, a unit of Manulife Financial Corp., Toronto.

Features and riders available with the policy include a 9-year no-lapse guarantee, a return-of-premium rider, and a cash value enhancement rider, which is designed for corporate-owned life insurance policies.