On grounds of public policy, the beneficiary named in an ordinary life insurance policy cannot recover the proceeds upon the legal execution of the insured for murder. CONTRACT. Writ in the Superior Court dated August 7, 1935. There was a finding for the defendant by Gray, J. The plaintiff alleged exceptions. D. Stoneman, S. S. Stoneman,...
(Reuters) — John Hancock, one of the oldest and largest North American life insurers, will stop underwriting traditional life insurance and instead sell only interactive policies that track fitness and health data through wearable devices and smartphones, the company said on Wednesday. The move by the 156-year-old insurer, owned by Canada’s Manulife Financial, marks a major shift for the company, which unveiled its first interactive life insurance policy in 2015. It is now applying the model across all of its life coverage. Interactive life insurance, pioneered by John Hancock’s partner the Vitality Group, is already well-established in South Africa and Britain and is becoming more...
The lead plaintiff, Skellig ICAV, joined with its U.S. securities intermediary, Wilmington Trust, to file a complaint against John Hancock last week, in the U.S. District Court for the Southern District of New York. John Hancock declined to comment on the case. What It Means The outcome of the case could affect any clients who are using cash-value life insurance to protect their families against premature death, as well as any clients who are using cash-value life insurance in retirement income planning, education planning or estate planning arrangements. The case could also affect the prices clients could get if they chose to sell unwanted life insurance policies to life settlement...
Highlights power of strategic industry partnerships to promote preventive health and empower well-being BOSTON (September 20, 2022) – Today, John Hancock, the US division of Toronto-based Manulife (NYSE: MFC), announced it is offering access to GRAIL’s Galleri multi-cancer early detection test to a pilot group of existing customers through the John Hancock Vitality Program, in collaboration with reinsurer Munich Re Life US. As the first life insurance carrier to make this breakthrough screening technology available, John Hancock is enabling eligible customers to take proactive steps to better understand and make more informed choices about their health. According to the American Cancer...
If you are a trustee of a defined-contribution employee benefit plan covered by the Employee Retirement Income Security Act of 1974 (ERISA) with which John Hancock had group annuity contracts and recordkeeping agreements at any time from March 25, 2013, through December 23, 2021, and that have, since March 25, 2013, allocated assets through John Hancock’s Signature Platform to International Investment Options that have passed through foreign tax credits to John Hancock, you may have legal rights and options that you may exercise on behalf of your plan before the Court decides this case. The purpose of this informational litigation website is to provide details of a pending class action in...
The New York State Department of Financial Services (NYDFS) announced Thursday that John Hancock will return nearly $21.6 million to consumers and/or their beneficiaries and $2.2 million to the New York State Medicaid Program following a compliance review with state requirements on long-term care insurance. A joint investigation by the NYDFS and the state’s Department of Health concluded from 2001-19, John Hancock “prematurely terminated” 156 long-term care policies for New Yorkers before the customers had fully exhausted the benefits to which they were entitled, the NYDFS said. The early terminations resulted in 27,161 days of unpaid benefits, leaving customers to either pay the expenses...
, a leading provider of no code / low code content-based digital solutions for the life insurance and financial services industry, today announced John Hancock has implemented a fully digital version of iGO e-App, including Client Collaboration with AlphaTrust e-Signature, to accelerate the life insurance application process. This new, modern approach can dramatically reduce the life insurance sales cycle and offers a less intrusive way to collect medical history data with required signatures. Some clients may even receive an "instant" underwriting decision via John Hancock ExpressTrack , the company's accelerated underwriting process. “Client collaboration has long been a primary focus for...
John Hancock Life Insurance Co. (U.S.A.) is assuming responsibility for a block of about 25,000 long-term care insurance policies originally issued by Time Insurance Co. A Wisconsin state court declared Time insolvent and put it in rehabilitation in July 2020. John Hancock — a Boston-based arm of Manulife — has been reinsuring and administering the LTCI policies for more than 20 years. What It Means Because John Hancock has been administering the LTCI policies for so long, many of your clients who have these policies may already think of their policies as John Hancock policies. Nathan Houdek, Wisconsin’s insurance commissioner, predicted that the assumption arrangement will have little...
BOSTON – John Hancock Retirement, one of the largest providers of retirement plans of all sizes in the United States[1], has been selected to administer retirement plans for SI Group, a leading developer and manufacturer of performance additives, process solutions, pharmaceuticals and chemical intermediates. The SI Group plan has $500 million in assets and covers more than 2,000 participants. “John Hancock Retirement is known for their focus on plan participants’financial wellbeing as they prepare for retirement – with great information, tools and processes. We think it bodes well for us and our employees,” said Jody Wood, Sr. Human Resources Manager - Benefits at SI Group. According to...
Venerable Holdings has agreed to reinsure more than 163,000 variable annuities that John Hancock sold in the United States from 2003 through 2012. The annuities are backed by $22 billion in assets. John Hancock is a Boston-based arm of Manulife Financial. The deal with Venerable involves 76% of Manulife’s exposure to U.S. variable annuity risk. John Hancock would continue to administer the contracts, Manulife said. The companies hope to close on the deal by March 31, 2022. Naveed Irshad, the global head of in-force management at Manulife, said in a comment, included in the deal announcement, that Manulife is making the deal partly because it will reduce the company’s sensitivity to ups and...