Get Started

Benefit Better

Ready to offer your small business clients a way to "Benefit better?"

Your small business-owner clients are seeking incentives to recruit and retain their key employees in today's competitive job market. Show them the integrated and unique benefit offered by an Executive Bonus Plan with John Hancock Vitality life insurance.

Wherever you are in the process, we've made it easy to find the information you need.

Prospecting

Identify Your Target Market

Ideal candidates for an Executive Bonus Plan with Vitality are small business owners with 100 or less employees.

Where to find these small business owners?

▾ Look through your existing book of business or even your personal and professional network

Businesses such as doctor practices, law firms, accounting firms, manufacturing and technology that usually have employees with specialized skills, certifications, company intelligence or have been at the business for a long time.

▾ Ask for referrals “Who do you know who has a business?” “Has key employees”?

Centers of influence, such as attorneys and CPA’s will likely know business owners who could benefit from an executive benefit plan. You might want to consider doing a seminar specifically to educate them on what some of the benefits you could offer.

▾ Generate awareness and interest

Inviting business owners to come and learn about opportunities available (could be a lunch and learn or another event)
Create a social media campaign

Prospecting Resources:

Designing the plan

A key advantage of an Executive Bonus Plan is that it can be customized to each key employee to ensure benefits align with employee goals. John Hancock life insurance products are uniquely and ideally suited for executive bonus plans—meeting any design need, ranging from term insurance to permanent products.

Which product is best?

The options are virtually endless in terms of the life insurance policy design, so product selection depends on a number of factors, such as:

Do they want to protect their family from the risk of premature death or a long-term care event?
Are they looking for a product that accumulates cash value for supplemental retirement income?

Here are the John Hancock products used most frequently with Executive Bonus Plans:

Low cost death benefit choices:

Protection UL
Protection IUL

Cash value accumulation choices:

Variable UL
Accumulation IUL

Planning idea:

Remember you can customize the plan per participant to include tailoring product selection. Choose a product and riders that meet the needs of the employer/employee.

Customizing the policy with riders:

John Hancock’s industry-leading living benefit riders such as the Long-Term Care and Critical Illness Benefit are optional and can both be added to provide meaningful benefits to an employee.

Long-Term Care rider

One of the biggest needs most retirees face is a plan to cover long- term care costs. An executive bonus plan with John Hancock’s Long-Term Care rider provides a tax-free acceleration of the death benefit to help cover these costs and protect the employee’s overall financial plan. What makes John Hancock’s LTC rider unique:

Reimburses for qualified long-term care expenses
Can purchase a Maximum Monthly Benefit Amount (MMBA) based on an employee’s specific needs, up to $50,000 – 4 times higher than per diem amount
Typically, less expensive than indemnity model and can preserve more death benefit for an employee’s beneficiaries

Critical Illness Benefit rider

Diagnosis of a critical illness or condition such as cancer or stroke can derail financial planning. John Hancock’s Critical Illness Benefit rider can be added to a life insurance policy to provide a one time, lump-sum, income tax free benefit to help cover an employee’s expenses while they focus on recovery:

Employee can elect 10% or 25% of the policy’s face amount for a Critical Illness benefit, up to $250,000
7 covered illnesses include cancer, heart attack, and stroke
Benefit is not an acceleration of death benefit, preserving the death benefit for other protection needs

Tools to help:

Create a custom client presentation with JH Solution for your business owner. Here is a sample presentation.
Fact finder will help gather the information needed to help design a case.
Living benefits

Implementing the plan

Next steps following the initial plan design and product selection:

1

Inform the key employee about the benefit being offered

2

Business and employee execute a plan agreement outlining the terms. Request sample documents in the form below.

3

Enroll the employee in the plan, including completing the insurance application to start the underwriting process

Tips to Package Your Case for Underwriting Success

Here are some tips and considerations to be thinking about before you submit your case—knowing these details upfront can help ensure smooth processing.

Who is the plan covering?

Who are the executives?
What are their salaries?
Are all executives of the same or similar employment status a part of the plan? If no, why not?

What is the purpose of the coverage?

Is this a pure executive compensation design or is there another purpose for coverage?
Indicate all relevant purposes for coverage beyond compensation planning, key person, buy-sell needs, debt service, etc.

What is the plan design?

What product has been chosen and why?
What is the goal of the design?

Did you know?

John Hancock ExpressTrack® offers an underwriting decision in as little as 3 days for face amounts up to and including $3 million!^*

Best in class underwriting

John Hancock’s underwriting team works extremely hard to provide best-in-class support to help you place the coverage your client needs.

*Elapsed time to generate underwriting decision from the time Underwriting receives the interview results.

Inforce and post issue

Once the policy (or policies) are issued, here's additional steps you can take to provide the most value for your clients. John Hancock is here to support you every step of the way.

Step 1: Enroll in the Vitality program
Have employees visit JohnHancockVitality.com to activate their Vitality account using their policy number.

Step 2: Ongoing review and administration of plan

Work with the employer to ensure they have a plan for ongoing premiums
Schedule an annual meeting with employer to go over plan
Stay in regular contact with the employer to determine if a participant has left the business or if a new participant should be added
Schedule annual reviews with the employee as an excellent opportunity to engage and work with a new client

Tip:

Vitality will give you updates on employee participation, in turn give you the opportunity to work with the employee as well as the business owner!

Step 3: Check out these tools to help manage policy performance

If the employee purchases a protection product, make sure they enroll in LifeTrack — an industry-first policy management solution that helps your clients meet their insurance goals. LifeTrack shows your clients exactly how much they need to pay in order to meet their objectives.

If your client purchases an indexed UL policy an Annual Performance Summary that gives a detailed snapshot of actual policy performance compared to illustrated performance.

Let us help you navigate executive benefit planning:
call us at 1-888-266-7498 (option 3) or email advancedmarkets@jhancock.com

This material does not constitute tax, legal, investment or accounting advice and is not intended for use by a taxpayer for the purposes of avoiding any IRS penalty. Comments on taxation are based on tax law current as of the time we produced the material. All information and materials provided by John Hancock are to support the marketing and sale of our products and services, and are not intended to be impartial advice or recommendations. John Hancock and its representatives will receive compensation from such sales or services. Anyone interested in these transactions or topics may want to seek advice based on his or her particular circumstances from independent advisors.

Loans and withdrawals will reduce the death benefit, cash surrender value, and may cause the policy to lapse. Lapse or surrender of a policy with a loan may cause the recognition of taxable income. Policies classified as modified endowment contracts may be subject to tax when a loan or withdrawal is made. A federal tax penalty of 10% may also apply if the loan or withdrawal is taken prior to age 59 1/2.

The Critical Illness Benefit Rider provides a one-time lump sum benefit for covered critical illnesses subject to eligibility requirements. The benefit will not be paid for critical illnesses initially diagnosed before the rider effective date or during the waiting period. See the product producer guide for additional details.

The Long-Term Care (LTC) rider is an accelerated death benefit rider and may not be considered long-term care insurance in some states. There are additional costs associated with this rider. The Maximum Monthly Benefit Amount is $50,000. When the death benefit is accelerated for long-term care expenses it is reduced dollar for dollar, and the cash value is reduced proportionately. Please go to www.jhsaleshub.com to verify state availability.

Vitality is the provider of the John Hancock Vitality Program in connection with policies issued by John Hancock.

John Hancock anticipates that the Critical Illness Benefit paid under this rider will generally be excludable from income under Internal Revenue Code Section 104(a)(3). However, the benefit may not qualify for this exclusion with certain third-party ownership arrangements.

MLINY061419070

extension	details
*.exe	Executable file (program)
*.mps	Windows Sharing File allows you to map a Windows network drive to your VPS home directory across the Internet
*.vbs	Script file (Microsoft Visual Basic)
*.avi	Microsoft Audio Video Interleaved file for Windows movie
*.mpg	MPEG Animation (movie file)
*.mpeg	MPEG Animation (movie file)
*.bat	Batch file
*.com	Command file (program)
*.cmd	Command file for Windows NT (similar to a DOS .BAT file), OS/2
*.scr	Screen saver file / Screen Snapshot file / Fax image (Generic) / Debug Source Code (DOS Debug)
*.asf	Microsoft Avanced Streaming Format (movie / music file)
*.mp3	MPEG Audio Layer 3 (AC3) - compressed audio file
*.eml	(Outlook Express Mail Message) file type
*.pif	Program Information File / Compressed archive (Macintosh)
*.scp	Script file
*.shs	Shell scrap file; reportedly used to send "password stealers"
*.swf	Object (ShockWave Flash)

Get started

Ready to offer your small business clients a way to "Benefit better?"

Prospecting

Identify Your Target Market

▾ Look through your existing book of business or even your personal and professional network

▾ Ask for referrals “Who do you know who has a business?” “Has key employees”?

▾ Generate awareness and interest

Prospecting Resources:

Designing the plan

Which product is best?

Here are the John Hancock products used most frequently with Executive Bonus Plans:

Low cost death benefit choices:

Cash value accumulation choices:

Planning idea:

Customizing the policy with riders:

Long-Term Care rider

Critical Illness Benefit rider

Tools to help:

Implementing the plan

1

2

3

Tips to Package Your Case for Underwriting Success

Who is the plan covering?

What is the purpose of the coverage?

What is the plan design?

Did you know?

Best in class underwriting

Inforce and post issue

Tip:

Let us help you navigate executive benefit planning:
call us at 1-888-266-7498 (option 3) or email advancedmarkets@jhancock.com

Thank you for getting in touch!
We appreciate you contacting us about our Executive Benefit offering. One of our colleagues will get back to you shortly.

Get started

Ready to offer your small business clients a way to "Benefit better?"

Prospecting

Identify Your Target Market

Prospecting Resources:

Designing the plan

Which product is best?

Here are the John Hancock products used most frequently with Executive Bonus Plans:

Low cost death benefit choices:

Cash value accumulation choices:

Planning idea:

Customizing the policy with riders:

Tools to help:

Implementing the plan

1

2

3

Tips to Package Your Case for Underwriting Success

Did you know?

Best in class underwriting

Inforce and post issue

Tip:

Let us help you navigate executive benefit planning: call us at 1-888-266-7498 (option 3) or email advancedmarkets@jhancock.com

Thank you for getting in touch! We appreciate you contacting us about our Executive Benefit offering. One of our colleagues will get back to you shortly.

Let us help you navigate executive benefit planning:
call us at 1-888-266-7498 (option 3) or email advancedmarkets@jhancock.com

Thank you for getting in touch!
We appreciate you contacting us about our Executive Benefit offering. One of our colleagues will get back to you shortly.