LifeCare is a single-premium whole life insurance policy with long-term care benefits.
LifeCare and the Acceleration rider may not all be available in some states. The Acceleration rider is automatically included with every LifeCare policy. There are additional costs associated with this rider that are included in the single premium. LifeCare with the Acceleration rider is not considered long-term care insurance in some states. When the death benefit is accelerated for long-term care expenses, the death benefit is reduced dollar for dollar, and the policy cash value is reduced proportionally. Replacement of LifeCare for a different John Hancock insurance product will require full underwriting.
For prospective policyholders in New York, this product is a life insurance policy that accelerates the death benefit for qualified long term care services and is not a health insurance policy providing long- term care insurance subject to the minimum requirements of New York Law, does not qualify for the New York State Long Term Care Partnership program and is not a Medicare supplement policy.
The Acceleration rider has exclusions and limitations, reductions of benefits, and terms under which it may be continued in force or discontinued. Please contact the licensed agent or John Hancock for more information, cost, and complete details on coverage in your state.
Guaranteed product features are dependent upon minimum premium requirements and the claims-paying ability of the issuer.
Insurance policies and/or associated riders and features may not be available in all states.
Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.
Performance UL and Performance SUL policies automatically include a no-lapse guarantee called the Death Benefit Protection feature. This feature guarantees that the policy will not default, even if the cash surrender value falls to zero or below, provided that the Death Benefit Protection Value remains greater than zero and policy debt never exceeds the Policy Value. For Performance UL issue Ages 60 or below, the no-lapse guarantee under the Death Benefit Protection is the greater of 30 years or to age 80; for Issue Ages 61–90 the guarantee is the greater of 10 years or to age 90. For Performance SUL, all Issue Ages, the no-lapse guarantee under the Death Benefit Protection is the greater of 10 years or to age 90 (of the younger insured). Policy owners who pay only the minimum premium required to keep the Death Benefit Protection in effect may forego the advantage of building significant value in this policy, and their Policy Value may be insufficient to keep this policy in force beyond the Death Benefit Protection period. Thereafter, premiums significantly higher than the Death Benefit Protection Premium may be required to keep the policy from lapsing. Factors such as, but not limited to, the amount and timing of premium payments, loans, withdrawals, or any other change allowed under the contract could potentially terminate the no-lapse guarantee. Once terminated, the Death Benefit Protection feature cannot be reinstated.
Policy Form: 10PERFUL
ICC10PERFUL
Policy Form: 10PERFSUL
ICC10PERFSUL
Policy Form Series:
09SPWL & ICC09 09SPWL
Rider Form Series:
09WLLTCR
