Manulife has redesigned its Venture VUL Accumulator product in order to improve its wealth accumulation potential, Andrew Littleford, assistant product manager at the firm, told the MutualFundWire.com. The product's new design works together with its tax advantages and the investment options available with the life insurance policy to enhance the client's long-term financial growth potential.

"The product was redesigned to focus on cash value for high levels of cash value at retirement", reported Littleford, assistant product manager. "In addition, the product offers a twenty years no less guarantee to provide for professionals."

Investment options will be available from some of the following managers: AIM, Dreyfus, Fidelity, Janus, and T. Rowe Price. There are also five lifestyle portfolios available.

The product can be used by business owners who want to attract and retain key employees or by clients who want to grow managed assets. "Advisors looking for ways to supplement a client's overall financial plan can use this powerful tool to help create a plan that meets their clients' specific needs," added Robert Cook, president of Manulife.

In fact, Littleford explained that Manulife would market the new offering as a supplement to 401(k) plans. 

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