John Hancock Launches Single-Premium Whole Life Policy With Long-Term Care Benefits

Maximum Long-Term Care Dollars

Streamlined Application Process

BOSTON, MA (February 1, 2010)-John Hancock Life Insurance today announced the launch of LifeCare, a single-premium whole life insurance product that provides protection for both life and long-term care (LTC) insurance needs-in a single policy.

With LifeCare, John Hancock clients can reposition some of their assets into a policy that will help further protect their family with life insurance while also protecting their assets from the high costs of long-term care should they eventually need it.

"John Hancock's LifeCare provides that a benefit will be paid regardless," said Steve Finch, President, John Hancock Life Insurance. "It may be a life insurance death benefit, it may be a long-term care insurance benefit or some combination of the two, but the client will be paid a benefit. In addition, if a client needs long-term care, the total benefit amount is typically several times greater than the premium paid. If they don't need it, or only need some care, the remaining death benefit goes to the beneficiaries."

He added that LifeCare's strong cash values provide clients a liquidity option should they need it.

"With more than 78 million baby boomers expected to retire in the next two decades, we believe John Hancock's LifeCare will offer many of them a very attractive, cost-effective solution to long-term care and asset protection needs," Mr. Finch said.

LifeCare also offers a streamlined tele-underwriting process. The policy can often be issued in as little as eight days with no exams, labs or doctors' statements, convenient for the client and the producer.

John Hancock, which has a long, successful history of providing long-term care riders on its fully underwritten products, is an industry leader in both the life insurance and long-term care insurance markets. The policy is backed by one of the industry's most highly rated companies.

"The addition of LifeCare further strengthens John Hancock's portfolio of universal, variable and whole life insurance products designed to meet every client's need," Mr. Finch said. "John Hancock's LifeCare product is the industry's best reason yet to consider a life insurance policy with long-term care benefits."

Click here to view the John Hancock LifeCare product brochure.

Click here to view the LifeCare vs MoneyGuard comparison brochure.

Click here to view the LifeCare vs Genworth's TLC comparison brochure.

Click here to view the LifeCare technical guide.

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