John Hancock Life Insurance, a Boston-based unit of Manulife Financial Corp., announced the launch of its new Accumulation UL product, a universal life policy. The product is designed to perform well in short-pay, highly funded cash value accumulation scenarios.

"John Hancock Accumulation UL's high-early cash values make it an excellent choice for high-net worth individuals and business owners who need reduced collateral requirements for premium financing arrangements or a lower charge to earnings for business owned policies," says Steve Finch, president, John Hancock Life Insurance.

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