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John Hancock expands fixed annuity portfolio with new JH Signature product

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John Hancock Financial’s Fixed Products Group, Boston, has announced the launch of its latest fixed annuity product: JH Signature.

JH Signature is a modified guaranteed annuity which is designed to provide a transparent combination of “rate for term” choices, competitive guaranteed interest rates and support services to help manage challenging eldercare situations.

Investors will have a choice of guarantee periods: Either 3, 5, 7 or 10 years with a matching withdrawal charge schedule. The minimum premium is $25,000, with higher interest rates for premiums above $50,000 and $100,000, respectively.

Clients will have the ability to take withdrawals or even surrender the contract during the guarantee period; however, withdrawals greater than the interest credited over the previous 12 months would be subject to a withdrawal charge and a market value adjustment (MVA). The MVA is based on a formula which responds to interest rate movements and can be positive or negative. Additional information on the MVA and when it is applicable can be found in the prospectus.

JH Signature also offers the Family Resource Benefits, which offers professional health and lifestyle information at no additional charge. This includes discounts, referral services and programs to help clients and their families better understand and manage challenging eldercare situations.

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