Hancock Introduces Survivorship Life Product

September 24, 2001 at 08:00 PM
Share & Print

NU Online News Service, Sept. 24, 10:48 a.m. – John Hancock Financial Services Inc., Boston, has introduced a new survivorship life insurance product for the estate-planning market, the Variable Estate Protection Edge.

A survivorship policy covers two or more people and pays off after the death of the last insured.

The Protection Edge policy is aimed at wealthy individuals who want to pay large premiums and maximize cash accumulation, the company says.

Earlier this year, the company introduced the Protection Plus policy, a policy in the same survivorship life family. The Protection Plus policy is aimed at companies that use survivorship life policies for corporate planning purposes. For accounting reasons, those clients often want high cash values in the first few years that a survivorship life policy is in force, Hancock says.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Related Stories

Resource Center