John Hancock Life Insurance Company has brought out a universal life insurance policy that provides low-cost death coverage at current interest rate assumptions along with a long term care option.
The company's new Performance UL policy carries a 10-year extended no-lapse guarantee.
The product would appeal to younger clients seeking affordable death benefit protection, according to Hancock, Boston, a division of Manulife Financial Inc., Toronto. The product also has applications in estate planning, family income protection and key employee or owner protection, the company says.
