Our living-benefits portfolio just got even stronger!
An additional way to help protect against needing care in retirement
John Hancock’s living-benefits portfolio just got even stronger with the addition of a new Chronic Illness rider. This is a great solution for producers not licensed to sell our Long-Term Care rider or when an indemnity benefit is desired. We are pleased to offer another way to help you protect more clients and their families from the costs associated with needing care.
Flexible benefits
Clients can use the benefit dollars for anything they choose — with no receipts required
If the death benefit increases, the chronic illness benefit pool can increase
Easy for you — and your clients
Only a life license is required to sell
The condition is not required to be permanent to qualify
John Hancock advantage
Offering three strong options to help clients pay for long-term care — the Long-Term Care, Chronic Illness and Accelerated Death Benefit for Chronic Illness riders
The John Hancock Vitality Program rewards clients for the everyday things they do to live a longer, healthier, better life
The new Chronic Illness rider has been approved for sale on Protection UL 22, Protection IUL 22R and Protection VUL 23 in all states except California, Guam, New York, Puerto Rico and South Carolina.
For more information, please contact your John Hancock sales representative or call National Sales Support at888-266-7498, option 2.
FOR AGENT USE ONLY. THIS MATERIAL MAY NOT BE USED WITH THE PUBLIC. The Chronic Illness rider allows for an acceleration of the death benefit when the insured is certified as chronically ill. The maximum monthly benefit amount is the lower of $30,000 or the IRS per diem limit for a given month. Accelerated benefit payments under this rider reduce the death benefit dollar for dollar by the accelerated amount and reduce the policy value proportionately. There is a monthly charge for this rider. The benefits provided by this optional rider are designed to be excludable from gross income under federal tax law; however, there might be situations in which the benefits or charges for this rider are taxable. This rider is not long-term care insurance. Insurance policies and/or associated riders and features may not be available in all states. Guaranteed product features are dependent upon minimum premium requirements and the claims-paying ability of the issuer. Loans and withdrawals will reduce the death benefit, cash surrender value, and may cause the policy to lapse. Lapse or surrender of a policy with a loan may cause the recognition of taxable income. Policies classified as modified endowment contracts may be subject to tax when a loan or withdrawal is made. A federal tax penalty of 10% may also apply if the loan or withdrawal is taken prior to age 59 1/2. Insurance products 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. MLI092523373-1
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