02/17/2010 - John Hancock 20yr term
John Hancock has repriced its 20 yr level term, 10 and 15 yr term premiums will remain unchanged. Term 20 premiums are generally increasing by an average of 10%.
Term 20 (2009) will no longer be offered.
Transition Rules: By March 15, 2010, John Hancock New Business has received a Policy Quote for term 20 (2009) AND has made tentative underwriting decision or John Hancock Life has received an application signed by the insured and owner (note in case where trusts are involved, the minimum requirement by March 15th is the insured's signature). A Policy Quote must also have been received as of March 15,2010.
By May 14, 2010 All pending Term 20 (2009) final application must complete the formal underwriting process and all administrative requirements must be recieved by John Hancock in order to issue the policy.
