John Hancock has re-entered into the L-Share marketplace with the launch of Venture 4 variable annuity product, which offers clients and advisors access to the company's JHT Lifestyle portfolios and features along with liquidity after four years.

The Venture 4 has expanded its annuities’ variable annuity lineup to three. The other two products are Venture, a traditional B-Share offering, and AnnuityNote, an offering that create lower-cost lifetime income.

The company said that Venture 4 can 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.

According to John Hancock, 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 is retained.

Marc Costantini, president of John Hancock Annuities, said: “We are pleased to introduce Venture 4 and continue the tradition of providing products that add real client value to the retirement marketplace. 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.”