Introducing John Hancock’s Improved Protection IUL 24
Enhanced Protection IUL: Improved performance potential with powerful living benefits
We are excited to launch the latest enhancements to our industry-leading Protection IUL, giving you and your clients an even better protection solution in the indexed universal life space. Take a look:
- Enhanced indexed account parameters: Offering improved policy performance potential and premium solves
- Better illustration performance in all indexed accounts at maximum assumed rates: Reinforcing policy performance potential
- Improved solves with Return of Premium (ROP): Offering better opportunities for case design
- A robust living-benefits portfolio: Providing three strong options for extended-care planning, including indemnity and reimbursement options
- Savings and discounts for healthy choices through the John Hancock Vitality Program: Rewarding your clients for the everyday things they do to live a longer, healthier, better life™
Key resources
State approvals
Protection IUL 24 is approved in all states except Florida, Guam, New York and South Dakota.
Transition rules
March 8, 2024 deadline:
- If seeking an informal offer — the John Hancock home office must receive a Protection IUL 22R illustration signed by the insured and owner, and a tentative underwriting decision must be obtained by this date.
- If seeking a formal offer — the John Hancock home office must receive a Protection IUL 22R application signed by the insured and owner by this date. An illustration on the case is also required.
- For a term conversion — the John Hancock home office must receive a term-conversion application signed by the insured and owner by this date.
May 3, 2024 deadline:
- By this date, John Hancock must have provided a final underwriting offer, received all administrative requirements to issue the policy and received confirmation to proceed with the 1035 Exchange (if applicable).