John Hancock Life Insurance has introduced an online tool to simplify the process of Setting Indexed UL Assumptions for producers and clients.

Dubbed Indexed UL Rate Translator, the tool uses an advanced yet simple approach to translate a customer’s long-term equity market expectations into an IUL illustrated rate.

The tool also helps producers easily compare the risk-and-return profiles of different products, by providing them with ability to adjust the cap, floor, and participation rate for a given index strategy.

John Hancock Life president and general manager Michael Doughty said determination of an appropriate assumed illustrated rate has proven to be difficult with Indexed UL.

"The IUL Translator can provide a way to meet client expectations while also allowing for meaningful comparison between different products," Doughty added.

"This innovative tool makes it easier for producers to explain Indexed UL’s unique blend of safety and opportunity and helps them tell the Indexed UL story more effectively."

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.