John Hancock Expands Term-Life Choices for Adviser Clients, Updates Protection IUL 26

John Hancock said September 28 that it expanded its term-life portfolio to three options and updated Protection IUL 26, its indexed universal life policy. For clients working with a financial professional, the key choice is how much flexibility a term policy provides to convert to permanent coverage later.

The company’s announcement describes term choices ranging from protection-focused coverage to options with greater conversion flexibility. John Hancock’s term-life explainer says conversion depends on the particular policy. A buyer considering that route should compare the provision on the specific option, rather than assume all three work alike.

What changes for buyers

The expansion adds choices within John Hancock’s financial-professional channel; it does not announce a new sales partner or buying platform. The insurer’s customer-facing term page directs shoppers to a financial professional and lists 10-, 15-, 20- and 30-year coverage periods. The September 28 announcement does not identify those periods as newly introduced.

Protection IUL 26 offers a separate permanent-coverage choice. John Hancock says its guarantee features depend on premium payments and policy conditions, while an optional extended-guarantee rider costs extra. The named issuers are John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York. The former is not licensed in New York; the company’s term page says 30-year term is unavailable there, and the announcement says availability varies by state.

The practical question for a prospective buyer is which available term option has suitable conversion terms—and how that choice compares with applying for permanent coverage now.