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New Variable Annuity from John Hancock


According to “John Hancock Releases Retail Variable Annuity” by Rebecca Moore from Plan Advisor, this new annuity has fewer costs associated with it and is quite simple in comparison to other variable annuities.

AnnuityNote has 5 main benefits for the purchaser.  The first is a guaranteed income for life of 5% after waiting for 5 years.  There also is not a surrender charge so investors can access their money immediately if need be.  The annual expense is 1.74% which includes both the insurance fee and portfolio expense.  There is also exposure to the stock and bond markets, allowing for long-term gains.  Lastly, being insured by a strong company like John Hancock provides financial strenth over time.

There is a required minimum investment of $25,000 and a 3% sales charge to start.  John Hancock recommends purchasers be aged 55-75.  Interested investors can speak with an expert for advice on this and other annuity products.

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