The latest news and updates from John Hancock Insurance
Product
Survivorship coverage with so much more
See how Protection SIUL provides your clients with some of the industry’s lowest-cost death benefit protection for two lives, plus access to so much more.
Preliminary Funding Account (PFA) update
Effective February 22, 2021, the PFA minimum funding amount will be updated to $5,000 plus the first annual premium. As part of this update, the PFA crediting rate will be updated to 1.5%. Any policies put in force on or after February 22 will receive the new rate of 1.5% on any funds in the PFA.
Doing business with us
USPS delivery delays
We are in communication with the United States Postal Service (USPS) about the ongoing mail delays related to COVID-19. At this time, we cannot anticipate when delivery times will return to normal. To help your clients make on-time premium payments and avoid any potential coverage lapses, step-by-step instructions for using our electronic payment options are available here.
Important information — John Hancock’s anti-money laundering training program
Key dates: Beginning May 2, 2021, every producer’s anti-money laundering (AML) course-completion date on file at John Hancock must be on or after January 1, 2020, and prior to the signing date of a new business application.
Training details: Producers who have not completed AML training in 2020 or 2021, should refer to John Hancock’s AML training approach outlined in this flyer for further information on what actions are necessary.
Please also note that producers who have completed a LIMRA AML course in 2020 or 2021 — or previously provided evidence of AML training that was completed in 2020 or 2021 — have satisfied John Hancock’s AML training requirement for our 2021 training campaign.
Important reminder for producers selling our LTC rider
Most states have adopted the training requirements outlined in the Deficit Reduction Act of 2006 and the NAIC Long-Term Care Model Act. These require producers selling LTC products, including LTC riders, to take an initial 8-hour NAIC Partnership training course, followed by a 4-hour refresher course every two years.
All courses must be approved by ClearCert in order to be accepted as valid training. To determine if a course is approved, please visit ClearCert.com/search-courses.