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LTC rider boosts policy

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John Hancock has strengthened its position in the life insurance market with a new policy that combines three of the things consumers look for. The policy, Protection Whole Life, combines guaranteed death benefit protection, guaranteed cash values and a long term care rider-a feature that is gaining popularity among senior and boomer consumers.

Hancock says the product can meet many needs, such as protecting assets and facilitating wealth transfer, addressing business planning needs, and funding charitable gifts. Advisors who help clients with these planning activities have another arrow in their quill to satisfy people’s demands.

The policy also boasts the following:

  • Premium payment options that include single-pay, 10-pay, 15-pay, 20-pay, limited pay and full pay.
  • The LifeCare Benefit rider, which can accelerate the death benefit to help pay long term care expenses.
  • Four non-smoker risk classes, including standard plus non-smoker.

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