John Hancock New Accumulation IUL 23

John Hancock’s Accumulation IUL 23 continues to take the lead in the indexed universal life (IUL) accumulation space.

What’s new?

• Improved income potential — giving clients an even better supplemental income solution
• Access to new Barclays Global MA Plus Indexed Account — providing a higher participation rate and improved performance potential
• Increased participation rate on Barclays Fixed Index Loans — helping secure greater upside potential with a higher participation rate and a guaranteed loan charge of 5%
• Lowered enhanced target premium threshold (now 2X target) — offering a greater opportunity for enhanced compensation

State approvals

Accumulation IUL 23 has been approved in all states except SD, GU, NY & SC.

Transition rules

August 11, 2023 deadline:

• If seeking an informal offer — the John Hancock home office must receive an Accumulation IUL 21R 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 21R 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.

October 6, 2023 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).