John Hancock Expands Its Variable Annuity Product Line
January 25 2010 - 10:05AM
PR Newswire (US)
Re-enters the L-Share marketplace with the introduction of Venture
4 BOSTON, Jan. 25 /PRNewswire-FirstCall/ -- John Hancock announced
today its re-entrance into the L-Share marketplace with the launch
of the Venture 4 variable annuity. The product offers clients and
advisors access to John Hancock's popular JHT Lifestyle portfolios
and innovative features along with full liquidity after four years.
"We are pleased to introduce Venture 4 and continue the tradition
of providing products that add real client value to the retirement
marketplace," said Marc Costantini, President of John Hancock
Annuities. "Venture 4 can help answer the need for lifetime income
backed by a financially secure company while also offering the
flexibility and liquidity to help meet changing needs during
retirement." Venture 4 expands John Hancock Annuities' variable
annuity lineup to three. The other two products are Venture, a
traditional B-Share offering, and AnnuityNote, an innovative
offering designed to create simpler, lower-cost lifetime income.
"As millions of Baby Boomers enter retirement during this new
decade, financial advisors need products that meet their clients'
unique needs. Venture 4 complements our current platform of annuity
offerings and is designed to attract those who are looking for the
features typically found with traditional variable annuities, but
with better liquidity features," said Mike Treske, President, John
Hancock Wood Logan. Venture 4 may be purchased with the optional
Income Plus For Life withdrawal benefit, which provides lifetime
income that has the potential to increase through either deferring
withdrawals or locking in potential market gains through the annual
step-up provision. An additional annual fee applies if an investor
elects an Income Plus For Life rider. The annual fee of 0.90%
(1.20% maximum) is based on the adjusted benefit base and is
deducted from the contract value on the anniversary. Upon step-up,
the fee may increase to an annual maximum. The step-up may be
declined if the fee is raised and the previous Benefit base
retained. Additional restrictions and limitations apply. Contact
John Hancock for a prospectus for full details. About John Hancock
Financial and Manulife Financial Corporation John Hancock Financial
is a unit of Manulife Financial Corporation (the Company), a
leading Canadian-based financial services group serving millions of
customers in 19 countries and territories worldwide. Operating as
Manulife Financial in Canada and in most of Asia, and primarily as
John Hancock in the United States, the Company offers clients a
diverse range of financial protection products and wealth
management services through its extensive network of employees,
agents and distribution partners. Funds under management by
Manulife Financial and its subsidiaries were Cdn$437 billion
(US$407 billion) as of September 30, 2009. Manulife Financial
Corporation trades as 'MFC' on the TSX, NYSE, and PSE, and under
"0945" on the SEHK. Manulife Financial can be found on the Internet
at http://www.manulife.com/. The John Hancock unit, through its
insurance companies, comprises one of the largest life insurers in
the United States. John Hancock offers a broad range of financial
products and services, including life insurance, fixed and variable
annuities, fixed products, mutual funds, 401(k) plans, long-term
care insurance, college savings, and other forms of business
insurance. Additional information about John Hancock may be found
at http://www.johnhancock.com/. Contact your financial advisor or
visit http://www.jhannuities.com/ or
http://www.jhannuitiesnewyork.com/ for more information, including
product and fund prospectuses that contain complete details on
investment objectives, risks, fees, charges, and expenses as well
as other information about the investment company, which should be
carefully considered. Please read the prospectuses carefully prior
to investing. The prospectuses contain this and other information
on the product and the underlying portfolios. It is important to
understand that IPFL is an optional benefit available with Venture
Variable Annuity contracts and cannot be elected without purchasing
the annuity contract. These benefits may not be appropriate for
those individuals who do not foresee a need for liquidity and whose
primary focus is tax deferral. Before considering either benefit,
please make sure the annuity is suitable for your investment goals
and personal circumstances. Charges may apply to amounts taken in
excess of the withdrawal amount available without a withdrawal
charge during the surrender charge period. All withdrawals reduce
the death benefit and optional benefits. In addition, withdrawals
of taxable amounts will be subject to ordinary income tax and, if
made prior to age 59½, a 10% IRS penalty tax may apply. Venture
Annuities and the optional riders, which are available for an
additional fee, are not available in all states; product features
may vary, subject to state regulation. Variable annuities are not
FDIC insured, are long-term contracts designed for retirement
purposes, and are subject to investment risk, including the
possible loss of principal. This information was prepared to
support the promotion and marketing of Venture Annuities. Neither
John Hancock Life Insurance Company (U.S.A.), John Hancock Life
Insurance Company of New York, John Hancock Distributors LLC, nor
any of their representatives provides tax, accounting, or legal
advice. Any tax statements contained herein were not intended or
written to be used, and cannot be used, for the purpose of avoiding
U.S. federal, state, or local tax penalties. Please consult your
own independent advisor as to any tax, accounting, or legal
statements made herein. Venture Annuities are issued and
administered by John Hancock Life Insurance Company (U.S.A.),
Bloomfield Hills, MI, which is not licensed in New York. In New
York, Venture Annuities are issued and administered by John Hancock
Life Insurance Company of New York, Valhalla, NY. Venture
Combination Fixed and Variable Annuities are distributed by John
Hancock Distributors LLC, member FINRA. -- Not FDIC Insured -- Not
Bank Guaranteed -- May Lose Value -- Not a Deposit -- Not Insured
by Any Government Agency DATASOURCE: John Hancock Financial
Services CONTACT: Beth McGoldrick of John Hancock Financial
Services, +1-617-663-4751, Web Site: http://www.johnhancock.com/
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