Take advantage of a new, innovative approach to critical illness coverage – offering your clients a lump-sum, income tax-free payment that’s separate from – and in addition to – their life insurance benefit. Now available on Protection IUL and Accumulation IUL, this living benefit can help protect your clients throughout their working years from the financial burden associated with a critical illness event such as a heart attack, cancer, or stroke.
- Pays a benefit – provides a one-time, lump-sum, income tax-free benefit up to $250,000 to the policy owner, upon the insured’s initial diagnosis of a covered critical illness
- Preserves the death benefit – offers an indemnity payment that’s separate form the death benefit, preserving it for the policy’s beneficiaries
- Protects your clients’ lifestyle – helps cover the costs associated with recovery, in addition to day-to-day expenses
- Covered illnesses include heart attack, stroke, cancer, coronary artery bypass grafting, kidney failure, major organ failure, and paralysis
The Critical Illness Benefit rider is available in the following states: AL, AK, AR, AZ, DC, DE, HI, IL, IA, IN, KY, LA, ME, MD, MI, MN, MT, ND, NE, NV, NM, OK, OR, RI, SC, SD, TX, VT, WI, WV, WY. Some state variations may apply, please see the policy contract for more details.
- The rider is underwritten separately from the base policy, with no additional requirements needed
- Available for issue ages 18-65
- Eligible for John Hancock ExpressTrack decisions, and can be combined with the Long-Term Care rider and the John Hancock Vitality Program
- Critical Illness Benefit rider risk class (Standard, 150% and 175%, Smoker and Non-Smoker) is independent of the life insurance risk class