Maritime Life Enhances Product Portfolio

HALIFAX, N.S., Nov. 17, 2003 – Delivering on its commitment to continuously provide customers and distributors with unique and innovative products, Maritime Life is pleased to announce a series of exciting enhancements to its critical illness and universal life products, effective immediately.

“These new product enhancements underscore our commitment to providing innovative and competitive products to our customers and distributors,” says Daniel Dessureault, vice president of Retail Sales and Marketing Delivery. “Our focus is to deliver high quality, specialized products that are among the most competitive in the market in terms of pricing, flexibility and providing security to our customers across Canada.”

Critical Illness Enhancements

By way of example, the new Global Health Care Rider is an industry-leading feature that has been added to Maritime Life’s critical illness product, called ‘Critical Needs’. This enhancement appeals to clients who are concerned about timely access to quality health care in Canada, and the cost associated with seeking treatment elsewhere. It provides up to CAD$1 million for worldwide medical treatment, and allows clients to take control of their healthcare.

Other enhancements to Maritime Life’s critical illness products include:

Access to Best Doctors(R) at time of diagnosis

  • Best Doctors Inc. is the world’s leading medical information company, helping to ensure the correct diagnosis has been made and the best treatment options have been considered.

Juvenile coverage

  • Children aged two to 17 may now be added to their parents’ ‘Critical Needs’ policy, and are covered for the same conditions.

Changes to covered conditions

  • A more competitive contract, including two new covered conditions – aortic surgery and heart valve replacement; and
  • Updated definitions for cancer and major organ transplant.

Universal Life Enhancements

Maritime Life is also introducing new enhancements to its universal life products, including:

Lower Cost of Insurance

  • Very competitive Level Cost of Insurance rates on both ‘Universal Solutions’ and ‘Essential Solutions’; and
  • Lower minimum premiums.

Investments

  • The introduction of nine Managed Linked Accounts on ‘Universal Solutions’; and
  • Reduced Expense rates on Variable Interest Accounts with the Investment Income Tax included.

Investment Bonus

  • A new, simpler, optional investment bonus. Clients have the option of not selecting this bonus to receive lower expense rates on investment accounts.

About Maritime Life

Founded in 1922, Maritime Life is one of Canada’s fastest growing financial services companies, offering financial security through a selection of personal insurance, disability and critical illness insurance, investment products, pensions, and group life and health products and services. Based in Halifax, Nova Scotia, Maritime Life provides benefits to nearly three million Canadians through offices in Halifax, Montreal, Markham, Toronto, Kitchener, Calgary and Vancouver.

With more than 2,900 employees, employee satisfaction is a top priority and the reason Maritime Life was named one of the “50 Best Companies to Work for in Canada” by the Globe and Mail’s Report on Business Magazine for four consecutive years.

As a subsidiary of Boston-based John Hancock Financial Services, Inc., Maritime Life comes from a tradition of strength and stability. John Hancock Financial Services, Inc. (NYSE: JHF) and its affiliated companies, including John Hancock Life Insurance Company, provide a broad array of insurance and investment products and services to retail and institutional customers. As of September 30, 2003, John Hancock and its subsidiaries had total assets under management of US $139.8 billion.