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Hancock Updates Universal Life Policies

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John Hancock is rolling out new versions of its Performance UL and Protection SUL-G products.

The universal life insurance policies are aimed mainly at consumers ages 50 and older, according to Hancock, Boston, a unit of Manulife Financial Corp., Toronto.

The UL policy insures 1 life, and the SUL-G version can insure 2 or more lives.

One change in the new versions is the addition of a new Standard Plus Non Smoker risk class, Hancock says.

The new risk class can lower premiums for healthy nonsmokers who are not quite healthy enough to qualify for the preferred underwriting classes, Hancock says.


CORRECTION: An earlier version of this article gave an incorrect name for the single-life UL policy.