What You Need to Know
- John Hancock's VUL policy can guarantee death benefits up to age 100.
- The Lincoln Financial IUL policies are set up so that policyholders can save more.
- USAA Life's product comes from Mutual of Omaha.
John Hancock has a introduced a variable universal life insurance policy, Protection VUL. The policy can provide guaranteed death benefits up to age 100.
A purchaser can combine the policy with long-term care and critical illness benefits riders.
Policyholders who signed up for the John Hancock Vitality Program may be able to reduce their premiums by as much as 25% by exercising, getting checkups and meeting other program requirements.
The policy is available to applicants ages 35 and older.
In other life insurance moves news:
Lincoln Financial has added the Fidelity AIM Dividend Indexed Account option to the menus for two indexed universal life insurance policies — the Lincoln WealthAccumulate 2 IUL policy and the Lincoln WealthPreserve 2 IUL policy.
The Fidelity index mixes allocation of account value to high-dividend stocks with allocation of account value to U.S. Treasuries.
The new account uses a 0% floor to protect the policyholder against market-related policy value loss.
Both IUL policies also reflect a life insurance definition change included in the Consolidated Appropriations Act, 2021. That can help policyholders put more cash in the policies and accumulate more assets, Lincoln says.
USAA Life Insurance Company is selling a guaranteed issue whole life insurance policy from Mutual of Omaha Insurance Company.