NOW AVAILABLE IN MISSISSIPPI AND NEW JERSEY.
John Hancock's new Protection Whole Life is more than just an easy-to-illustrate whole life policy that offers your clients affordable, fully guaranteed death benefit protection and premiums, as well as strong guarantanteed cash values. It is now more versatile than ever with the addtion of:
- Comprehensive competitive premium payment options available for all issue ages; Single-Pay, 10-Pay, 15-Pay, 20-Pay, Limited-Pay and Full-Pay
- Innovative LifeCare Benefit rider to help apy for long term care expenses
- Four Non Smoker risk classes including Standard Plus
Protection Whole Life Non-Participation vs. Northwestern Participating Whole Life
| Male 45, Preferred Non Smoker, $1,000,000 Face Amount |
|
John Hancock Protection Whole Life (15-Pay) |
Northwestern Adjustable CompLife (Full-Pay) |
| Premium |
$19,100 |
$23,170 |
| Offset Year |
16 (Guaranteed) |
16 (Non-Guaranteed) |
| Guaranteed Return to Basis Year* |
8 |
19 |
| Guaranteed Cash Surrender** in Year 10 |
$216,050 |
$169,900 |
| Guaranteed Cash Surrender** in Year 15 |
$386,810 |
$274,150 |
|
Guaranteed Cash Surrender** in Year 20 |
$458,590 |
$382,880 |
Competitor information is current and accurate to the best of our knowledge as of May 2008. The data shown is taken from various company illustrations. Protection Whole Life is based on 2001 CSO Mortality Tables. This comparison cannot be used with the public. This is a comparison of different products which vary in rates, fees, expenses, features and benefits. The products are different and are designed to meet different client needs. Underwriting class is based on Preferred Non-Smoker. Underwriting criteria will differ from company to company; we attempted to use comparable risk classes across both companies. Please have your clients consult with their professional advisors to find out which type of life insurance is more suitable.
* Year Premiums paid equals Cash Value.
** Guaranteed amounts are based on the assumption that no dividends are paid.
Protection Whole Life riders provide the flexibility to tailor your client's policy to their situation:
- LifeCare Benefit rider: When added to Protection Whole Life, all, some, or none of the death benefit can be accelerated to help pay for qualified long term care expenses. Any portion not used will be paid to the beneficiaries and will be income tax-favored under current law.
- Total Disability Waiver rider: If the insured becomes disabled, this rider waives the required premiums (within specified limits).
-
Accelerated Benefit rider: If the insured is terminally ill, this rider makes up to 50% of the death benefit of the contract available, to a maximum of $1 million. The remaining death benefit is reduced by one year's interest at current loan rate on the benefit paid.
For agent use only. Not for use with the public.
Insurance products are issued by John Hancock Life Insurance Company(U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.
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