John Hancock Protection IUL 18 represents a dilemma for insurance professionals. On one hand, it has some of the lowest illustrated premiums in the industry. But, on the other hand, it is complex, over-engineered and highly leveraged in both its charges and credits. Unlike virtually every other life insurance product in the industry, Protection IUL charges dynamic NAR Rates instead of COI Rates that vary with a fairly complex calculation that pulls in several policy factors and, generally speaking, increase when product performance is weak and decrease when policy performance is strong.