Protection UL and Protection SUL crediting rate changes

At John Hancock, we’re proud of our lengthy track record for delivering exceptional policy performance for customers. Our investment capabilities are at the core of this continued success. Protection UL and SUL policies invest primarily in a diverse mix of fixed-income assets, such as corporate bonds and several alternative non-fixed-income assets. Recent macroeconomic conditions have necessitated a 0.30% reduction in the crediting rate on Protection UL and SUL policies, effective November 1, 2024. We believe the underlying asset mix is well suited to the long-term objectives of Protection UL and SUL customers. 

Notification to clients

• This change will be effective on all Protection UL and SUL policies on November 1, 2024 and will be reflected on the corresponding annual statements. Clients who request an inforce illustration before they receive their annual statement will see the interest crediting rate change on the illustration.

Illustration software

• Effective October 7, 2024, JH Illustrator and jhillustrator.com will reflect these new rates.

What about your pending cases?

• Effective November 1, 2024, an illustration that reflects the new interest rate will be required on every pending case we are processing. Our New Business team will contact you regarding any cases where a new illustration is needed to complete the issue process.