Recent tax legislation means we can now offer even better cash value growth potential with Accumulation IUL ’21 — ensuring it continues to lead the way in the highly competitive space of supplemental retirement income. John Hancock’s Accumulation IUL continues to lead the industry in income solves — offering unmatched retirement income potential, along with several improvements, including:
- Maximum flexibility — new tax rates allow customers to fund policies at higher levels to obtain higher growth potential or additional death benefit protection in their working years
- Enhanced-target premiums — higher funding scenarios can now trigger an enhanced targets
- Expanded range of return options — new Base Capped Two Year Indexed Account offers additional customer choice for cash value growth potential with 21% cap and 0% floor
Accumulation IUL ’21 is available to issue in all states except Guam.
New business and underwriting information
Applications for Accumulation IUL ‘20 will continue to be accepted until June 04, 2021, provided the following requirements are met:
June 04, 2021
- If seeking an informal offer — the John Hancock home office must receive an Accumulation IUL ’20 illustration signed by the insured and owner, and a tentative underwriting decision must be obtained by
- If seeking a formal offer — the John Hancock home office must receive an Accumulation IUL ’20 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.
- Note: the John Hancock home office must receive an Accumulation IUL ’20 application signed by the insured and owner in addition to a fully executed New York Definition of Replacement (NB4082NY),
Notification and Authorization form (NB4084NY) and Important Notice Regarding Replacement (NB4081NY) by this date.
July 9, 2021
- By this date, John Hancock must have provided a final underwriting officer received all administrative requirements to issue the policy, including at least the minimum initial premium, and received confirmation to proceed with the 1035 Exchange (if applicable).