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Manulife Unit Changes VUL Guarantee

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John Hancock has updated the extended no-lapse guarantee rider that it sells with its Protect VUL variable universal life insurance policy.

Hancock, Boston, a unit of Manulife Financial Corp., Toronto, says the updated rider includes a new early funding option.

The option can lead to significant savings for clients who act within 10 policy years to meet the premium requirement for guaranteed death benefit coverage, Hancock says.