Online loans

online loans

A fast, simple and paperless loan administration service

Let online loans help you continue to streamline your plan administration.

John Hancock's online loans service simplifies the loan administration process by allowing a seamless transfer of electronic loan requests and notifications among participants, plan sponsors and plan consultants (third party administrators).

This powerful service lets your participants create, track and accept their loan requests electronically, significantly reducing your administrative workload and related paperwork. And, because the Review and Approve processes are also online, there is less potential for error and missing information.

Your benefits at a glance

k4 Timely administration of loan requests, as each step is conducted electronically

k4

Intuitive interface means multiple loan requests can be managed quickly and with ease

k4

Real-time notifications of pending and approved loan requests will be sent to you via your personalized Message Center

k4 k4

Detailed, flexible reporting and 24/7 access to loan documents, including the Truth in Lending Notice, the Non-negotiable Promissory Note and Irrevocable Pledge and Assignment and the Amortization schedule, for 24-months

Participant's online access to this service translates into less follow-ups, a real time-saving advantage

Accessing online loans is quick and easy

Go to the plan sponsor website at er (or er for New York domiciled plans)

? Select Your Resources > Tools > Electronic Tools > Loans

? Or select 'Loans' under Quick Reports

So how does online loans work?

Just follow these four easy steps and the loan request is complete:

Step 1 The participant or the plan sponsor/plan consultant creates a loan request and sends it for review. Step 2 The reviewer verifies that the loan requested is valid, based on plan and vesting rules, and

sends the request back to the participant for acceptance.

Step 3 The participant confirms the loan amount, agrees to the legal declarations, such as the Truth in Lending Notice, and submits the request for approval.

Step 4 The approver validates the request and submits it to John Hancock for processing.

It's that simple. And it's all done electronically ? no paperwork required.

Save even more time when you provide Census and Plan information

Provide John Hancock with your Census and Plan information and the online loans process is even more efficient. How?

k4 The system will pull existing participant information, such as vesting percentages, address, email and maximum loan amount available, and automatically pre-populate those fields.

k4 To ensure the information displayed is accurate, John Hancock provides explanations of its calculations (e.g. vesting percentages), further simplifying the review process.

online loans

A fast, simple way to administer loans

For more information about how you and your participants can benefit from online loans, as well as the time-saving advantages of providing current Census and Plan information, contact your John Hancock client account representative at 1-800-333-0963. Plan sponsors with New York domiciled plans should call 1-800-574-5557.

Both John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York do business under certain instances using the John Hancock Retirement Plan Services name. Group annuity contracts and recordkeeping agreements are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02210 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595. Product features and availability may differ by state.

Neither John Hancock nor its representatives is in a position to provide you with legal, tax, plan design or investment advice. If legal or other expert assistance is required, you should consult your legal or other expert advisors. This material is intended for informational purposes only and is not intended or offered as legal, tax, plan design or investment advice, nor should it be construed as such. If it is used or referenced to in promoting or marketing any matter addressed herein, it should be understood as having been produced to support such promotion or marketing. Any examples provided are for illustrative purposes only.

NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT INSURED BY ANY GOVERNMENT AGENCY

? 2009 John Hancock. All rights reserved.

PS16025-GE 05/09-16025

For plan sponsor use only. Not for distribution to members of the public.

GA0421096051

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download