John Hancock Life Insurance, a Boston unit of Toronto's Manulife Financial Corp., said it has introduced the John Hancock Accumulation UL product, a universal life policy.

The policy "performs especially well in short-pay, highly funded, cash value accumulation scenarios," the company said Tuesday.

Customers who want more flexibility can add a cash-value-enhancement rider to preserve capital. The policy also offers a five-year, no-lapse guarantee; return of premium rider; and an overloan protection rider.

Manulife had $363.5 billion of assets under management at Sept. 30.

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