Indexed UL offers clients unique customer value compared to other life insurance products. Highlights include:
Listen to this episode to learn why IUL has become so popular, hear key tips that can help make the IUL sale, and learn about the tools available to help manage IUL policy performance.
Select the options below and see a sampling of how John Hancock's Indexed UL products can help meet your client's death benefit protection and retirement income needs.**
Download our IUL educational presentations to deepen your product knowledge and help expand your IUL sales today!
**The Index Account options may not be available on all products or in all jurisdictions. The Base Index Account options (Base Capped Index Account and Base High Par Index Account) are the only index account options available for new policies issued in New York. Please consult each product’s producer guide for index account availability.
1. Loans and withdrawals will reduce the death benefit and 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. Withdrawals in excess of the cost basis (premiums paid) will be subject to tax, and certain withdrawals within the first 15 years may be subject to recapture tax. Additionally, 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 59½. Withdrawals are available after the first policy year. Index loans and Fixed indexed loans are available after the third policy year.
2. Life insurance death benefit proceeds are generally excludable from the beneficiary’s gross income for income tax purposes. There are few exceptions such as when a life insurance policy has been transferred for valuable consideration. Comments on taxation are based on John Hancock’s understanding of current tax law, which is subject to change.
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