John Hancock Financial Services has launched its new Protection Whole Life policy that combines guaranteed death benefit protection and a long term care rider.

The company said that the new product offers affordable, guaranteed protection plus guaranteed cash values for both life and long term care needs in one easy-to-understand policy.

Steve Finch, president of John Hancock Life Insurance, said: Our new Protection Whole Life product further strengthens John Hancock’s position in the whole life market and reinforces our ongoing commitment to providing producers and consumers with industry-leading products.