For clients seeking guaranteed death benefit protection that is cost effective, customizable and includes access to robust living benefits, our new Protection VUL offers it all — and more.

What’s new?

  • Customizable no-lapse guarantee, giving more flexibility to meet specific goals, with:
    • Basic Death Benefit Protection (DBP) rider — available at no additional cost and optimized to extend guarantees to age 80
    • Enhanced Death Benefit Protection rider — can extend no-lapse guarantee coverage to ages 80-100, with 10% premium charge deducted from policy value if elected
  • 8% reduction on endow solves on average
  • 9% increase on target premiums on average

Plus, Protection VUL 23 continues to offer your clients several additional advantages, including:

  • Support to help them live a longer, healthier life and the unique opportunity to lower their guaranteed premium without sacrificing their guarantee duration by engaging in the John Hancock Vitality PLUS Program
  • Comprehensive tax-qualified LTC coverage that can provide access to the death benefit and may offer a viable solution in an evolving state tax law landscape
  • Diversified growth opportunities with access to more than 55 fund options covering both equity and fixed-income markets, including US and international assets — with no fund restrictions to maintain the guarantee
  • Easy policy management with LifeTrack, an industry-first tool that can help you and your clients keep their policies on track to meet their coverage objectives

State approvals

Protection VUL 23 is now approved in all states except New York.

Transition rules for Protection VUL 21 

January 20, 2023 deadline:

  • If seeking an informal offer — the John Hancock home office must receive a Protection VUL 21 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 VUL 21 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

March 17, 2023 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)


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