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.

"With the recent challenges in the financial and credit markets, an accumulation UL policy provides an attractive option for clients who want protection, along with the potential for accumulating high early cash values," he continues.

Clients looking for greater flexibility can choose the cash value enhancement (CVE) rider that preserves capital and offers the liquidity clients need during market turbulence. The policy also offers a five-year, no-lapse guarantee, return of premium rider and overloan protection rider.

"John Hancock Life Insurance continually strives to provide clients with high-value, innovative products," Finch says. "We are regularly upgrading our product line to maintain our leadership position and the new Accumulation UL product is yet another step towards meeting that commitment."

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