John Hancock Life Insurance, a unit of Manulife Financial, has introduced a JH Solutions module to help families ensure they receive high level of ongoing support and funding for the support of a family member with special needs.

The new module uses Hancock’s concept illustration software to enable producers to create a presentation on addressing the funding for special needs specifically tailored to their client’s situation.

John Hancock said its new Needs Analysis module addresses the financial needs of persons with special needs. The presentation describes the concerns of a family with a special needs loved one and provides a brief discussion of types of special needs trusts and what to consider when planning in this area.

A life insurance policy can be an effective liquidity tool to fund a government programs Special Needs Trusts (SNT). The policy can be purchased on the caregiver’s life, typically the client, or on another member of the client’s family, to replace the loss of services and support due to premature death.

Alternatively, life insurance can be used to equalize an inheritance or to create liquidity for the future needs of a special needs child. It also provides cash to fund an SNT over lifetime to enhance and supplement the benefits provided under bare bones government programs.

John Hancock Advanced Markets Unit vice president Randy Zipse said that John Hancock is committed to providing state of the art tools, products and services to help producers support their clients and build their businesses. This new JH solutions module is another indication of company’s commitment.