NU Online News Service, June 27, 11:44 a.m. – John Hancock Financial Services Inc., Boston, says New York regulators have approved its CARESolutions benefit, an option available with certain variable annuities, for sale in New York state.
Hancock will be marketing the long-term care and critical illness benefit to new purchasers of its Revolution Value and Revolution Extra variable annuities.
Purchasers who buy the feature can use annuity assets to cover costs associated with long-term care and battles with certain critical illnesses.
Purchasers can also use the feature to cover long-term care and critical-illness costs for their spouses, Hancock says.
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