John Hancock Life Insurance Company released an updated and enhanced version of its term life insurance portfolio on July 16, 2007. The new portfolio features more competitive premium rates, particularly at the $3 million-plus coverage amount for many issue ages. The enhancements also include new underwriting guidelines, a relaxed smoking definition for occasional cigar users, a new Standard Plus Non Smoker rating class and new, streamlined application forms designed specifically for term life insurance.
"Our new Term Series keeps John Hancock at the forefront of this highly competitive market," says Naveed Irshad, Vice President of Product Management for John Hancock Life Insurance. Mr. Irshad added that John Hancock's financial strength ratings, conversion options and capacity to write very large cases will add to the company's competitiveness in this product space.
View the new John Hancock Term Life brochure.
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