John Hancock releases some updates to their Protection IUL 21 without much being changed rate-wise and replacing the previous year’s version. They introduce their new Select Capped Indexed account with a 5% guaranteed multiplier and no index performance charge, which replaces the old Base Capped account. The Select account is now the best illustrating account at the maximum illustrated rate, and premiums change minimally, if at all, compared to previously under the Base Capped index. Other interest assumptions are identical.
They also release a new Two-Year Base Capped Indexed account and made adjustments to their Cash Value Enhancement (CVE) rider. The CVE now extends the early cash value enhancement period to 10 years. “The charge for this rider is 2% of premiums paid in policy years 1-10.”
Rates were made available on the LifeTrends website on Wednesday, March 24th.