John Hancock Life Insurance has launched a new Performance UL product-a current assumption universal life insurance product.

The product features low-cost permanent death benefit coverage and security of a 10-Year Extended No-Lapse Guarantee.

The new product appeals to young as well as older age people, and addresses various personal and business insurance needs such as income protection for families, estate planning, and owner or partner or key employee protection for businesses.

LifeCare Max and LifeCare riders provide customers death benefit acceleration or continuation to help pay for long-term care expenses. A Cash Value Enhancement rider helps in reducing the charge to business succession plan or business earnings of an employee benefit when a corporation owns the policy.