John Hancock Raising Costs on Performance Universal Life Policies
Squitieri & Fearon, LLP is investigating claims against John Hancock for increasing the costs of insurance on John Hancock universal life insurance policies. John Hancock raised the cost of insurance (COI) on its universal life policies resulting in policyholders paying more than they should in order to keep the policies in force. Many policyholders have been unable to afford the increased costs and have had their accumulated cash in the policy reduced or depleted completely. When insurance carriers raise the costs of insurance like this, the policies often become too expensive for policyholders who have faithfully paid premiums for years. Many of those policies will lapse or be cancelled because the costs are too high
If you or someone you know has a universal life policy with John Hancock please contact us to determine whether we can help you.