John Hancock New Accumulation IUL - Now Available in New York
09-19-2024
New Accumulation IUL — now available in New York
For clients seeking strong cash value growth potential and overall versatility, John Hancock's new Accumulation IUL continues to help you stand out by offering:
- Significant improvements in pay-to-retirement cases — giving clients an even better supplemental income solution
- Strong income in short-pay designs — especially attractive for premium-finance cases
- Updated Cash Value Enhancement rider — offering lower charges that lessen long-term policy drag
- Increased IUL account parameters — allowing for greater cash value growth potential
- Opportunity to further improve income — with John Hancock Vitality PLUS, clients can further improve income for the everyday things they do to live longer, healthier lives
State approvals
Accumulation IUL 24 is approved in all states except Guam
Transition rules
September 20, 2024
- If seeking an informal offer — the John Hancock home office must receive an Accumulation IUL 23 illustration signed by the insured and owner, and a tentative underwriting decision must be obtained by this date.
- If seeking a formal offer — the John Hancock home office must receive an Accumulation IUL 23 application signed by the insured and owner by this date. An illustration on the case is also required.
- For a term conversion — the John Hancock home office must receive a term-conversion application signed by the insured and owner by this date.
Note: the John Hancock home office must receive an Accumulation IUL 23 application signed by the insured and owner and a signed illustration, in addition to a fully executed New York Definition of Replacement (NB4082NY), Notification and Authorization form (NB4084NY) and Important Notice Regarding Replacement (NB4081NY) by this date.
October 25, 2024 deadline:
By this date, John Hancock must have provided a final underwriting offer, received all administrative requirements to issue the policy and received confirmation to proceed with the 1035 Exchange (if applicable).
Key resources
Accumulation IUL producer guide
IUL parameters (consumer use)