100 Summit Lake Drive
Valhalla, New York 10595 |
(Address of Depositor’s Principal Executive Offices) |
Sophia Pattas, Esquire John Hancock Life Insurance Company of New York 197 Clarendon Street Boston, MA 02116 |
(Name and Address of Agent for Service) |
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Appendix-1
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B-1 | |
C-1 | |
D-1 | |
D-1 | |
D-1 |
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D-6
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D-6 |
FEES AND EXPENSES | |||
Charges for Early
Withdrawals (or surrender
charges, if applicable) |
There are withdrawal charges that you pay at the time you withdraw
Contract Values or surrender the Contract on a first-in,
first-out basis, measured from the date of each Purchase
Payment. For
John Hancock USA Contracts: The maximum withdrawal charge is 6% of the Purchase Payment in the first year, reducing to
2% in the seventh year and 0% thereafter. For example, assuming a $100,000
investment, the highest possible surrender charge would be
$6,000. For John Hancock New York Contracts: For Contracts without the Payment Enhancement Rider, the maximum
withdrawal charge is 6% of the Purchase Payment in the first
year, reducing to 2% in the seventh year and 0% thereafter.
For example, assuming a $100,000 investment, the highest possible surrender charge would be $6,000. For Contracts with the Payment Enhancement Rider, the maximum withdrawal
charge is 8% of the Purchase Payment in the first year,
reducing to 1% in the eighth year and 0% thereafter. For example, assuming a $100,000 investment, the highest possible surrender charge would
be $8,000. For more information on
charges for early withdrawals, please refer to “IV. Fee Tables –
Transaction Expenses.” | ||
Transaction Charges |
In addition to surrender charges (if applicable), you may also be charged
for the following transactions: State premium taxes, which
currently range from 0.04% to 4.00% of each Purchase Payment
(see “VIII. Charges and Deductions – Premium Taxes”),
may also apply to your Contract. We reserve the right to impose a charge in the future for transfers in excess of 12 per year. The
amount of this fee will not exceed the lesser of $25 or 2% of the amount
transferred. For more information on transaction charges and transfer fees, please refer to “IV. Fee Tables –Transaction Expenses” and “VIII. Charges and Deductions – Premium
Taxes.” |
Ongoing Fees and
Expenses (annual charges) |
The tables below describe the fees and expenses that you may pay each
year, depending on the options you choose. Please refer to
your Contract specifications page for information about the
specific fees you will pay each year based on the options you have elected. John Hancock USA Contracts: | ||
Annual Fee |
Minimum |
Maximum | |
Base Contract1 |
1.00% |
1.40% | |
Investment Options (Portfolio Company fees
and expenses)2 |
0.30% |
1.41% | |
Optional benefits available for an additional
Charge (for a single optional benefit, if
elected) |
0.20%1 |
1.00%3 | |
John Hancock New York Contracts: | |||
Annual Fee |
Minimum |
Maximum | |
Base Contract1 |
1.00% |
1.40% | |
Investment Options (Portfolio Company fees
and expenses)2 |
0.30% |
1.41% | |
Optional benefits available for an additional
Charge (for a single optional benefit, if
elected) |
0.20%1 |
1.00%3 | |
1Charge based on average daily assets allocated to the Subaccounts. | |||
2Charge based as a percentage of the Portfolio’s average net assets. | |||
3Charge based on Adjusted Guaranteed Withdrawal Balance. | |||
Because your Contract is customizable, the choices you make affect how
much you will pay. To help you understand the cost of owning
your Contract, the following table shows the lowest and
highest cost you could pay each year, based on current charges. This estimate assumes that you do not take withdrawals from the Contract, which could add charges for early withdrawals or surrender charges that substantially increase costs. |
|
John Hancock USA Contracts: |
||
Lowest Annual Cost
$1,192.69 |
Highest Annual Cost
$2,914.47 | ||
Assumes: •Investment of $100,000 •5% annual appreciation •Least expensive combination of Contract Classes and Portfolio Company fees and expenses •No optional benefits •No sales charges •No additional purchase payments, transfers or withdrawals |
Assumes: •Investment of $100,000 •5% annual appreciation •Most expensive combination of Contract Classes, optional benefits and Portfolio Company fees and expenses •No sales charges •No additional purchase payments, transfers or withdrawals | ||
John Hancock NY Contracts: |
|||
Lowest Annual Cost
$1,192.69 |
Highest Annual Cost
$3,097.85 | ||
Assumes: •Investment of $100,000 •5% annual appreciation •Least expensive combination of Contract Classes and Portfolio Company fees and expenses •No optional benefits •No sales charges •No additional purchase payments, transfers or withdrawals |
Assumes: •Investment of $100,000 •5% annual appreciation •Most expensive combination of Contract Classes, optional benefits and Portfolio Company fees and expenses •No sales charges •No additional purchase payments, transfers or withdrawals | ||
For more information on ongoing fees and expenses, please refer to “IV. Fee Tables – Periodic Fees and Expenses Other Than Portfolio Expenses.”
| |||
RISKS | |||
Risk of Loss |
You can lose money by investing in this Contract. You bear the investment
risk of any Portfolio you choose as a Variable Investment
Option for your Contract. For more information on risk of loss, please refer to “V.
Principal Risks of Investing in the Contract.” | ||
Not a Short-Term
Investment |
This Contract is not a short-term investment and is not appropriate for an
investor who needs ready access to cash. The Contract is
unsuitable as a short-term savings vehicle because of the
substantial Contract-level charges, including the surrender charge, as
well as potential adverse tax consequences from such
short-term use. For more information on the short-term investment risks, please refer to “V. Principal Risks of Investing in the Contract.” | ||
Risks Associated with
Investment Options |
An investment in this Contract is subject to the risk of poor performance
and can vary depending on the performance of the Investment
Options available under the Contract (e.g., Portfolio
Companies). Each such option (including any fixed account investment option) will have its own unique risks, and you should review these Investment Options before making an
investment decision. For more information on
the risks associated with Investment Options, please refer to “V.
Principal Risks of Investing in the Contract.” |
Insurance Company Risks |
Your investment in the Contract is subject to risks related to John
Hancock USA or John Hancock New York, including that the
obligations (including under the fixed account investment
option), guarantees, or benefits are subject to the claims-paying ability of John Hancock USA or John Hancock New York. Information about John Hancock USA and John
Hancock New York, including their financial strength ratings, are
available upon request from your John Hancock
representative. Our current financial strength ratings can also be obtained by contacting the Service Office at 1-800-344-1029. For more information on insurance company risks, please refer to “V. Principal Risks of Investing in the Contract.” | ||
Cybersecurity Risks |
Our business and operations are highly dependent upon the effective
operation of our computer systems and those of our
third-party business partners. As a result, there are
potential operational and information security risks associated with
attack, damage, or unauthorized access to the technologies
and systems on which our business depends. These risks
include, among other things, the unauthorized access, theft, loss, misuse, corruption, and destruction of data maintained online or digitally, denial of service on websites and other
operational disruption, and unauthorized release of confidential customer
information. Cyber- attacks affecting us, any third-party
administrator, the underlying portfolios, intermediaries,
and other affiliated or third-party service providers may adversely affect
us and your Contract Value. For instance, cyber-attacks may
interfere with the processing of actions taken on your
Contract, including the processing of transactions and orders from our
website or with the underlying portfolios, impact our
ability to calculate unit values or an underlying portfolio to
calculate a net asset value, or cause the release and possible destruction
of confidential customer or business information.
Cybersecurity risks may also impact the issuers of
securities in which the underlying portfolios invest, which may cause the
portfolios underlying your policy to lose value. While
measures have been implemented that are designed to reduce
cybersecurity risks, there can be no guarantee or assurance that we, the underlying portfolios, or our service providers will not suffer losses affecting your Contract
due to cyber-attacks or information security breaches in the
future. | ||
RESTRICTIONS | |||
Investments |
There are restrictions that may limit the variable Investment Options and
general account option that you may choose, as well as
limitations on the transfer of Contract Value among those
options. These restrictions may include a monthly limit on the number of transfers you may make. We
may also impose additional restrictions to discourage market timing and
disruptive trading activity. Among other things, the
Contract allows us to eliminate the shares of a Portfolio or substitute shares of another new or existing Portfolio, subject to applicable legal requirements. For more information on investment and transfer restrictions, please refer
to “VII. Description of the Contract.” | ||
Optional Benefits |
There are restrictions and limitations relating to optional benefits and
whether an optional benefit may be modified or terminated by
us. Withdrawals that exceed limits specified by the terms of an optional
benefit may affect the availability of the benefit by
reducing the benefit by an amount greater than the value
withdrawn, and/or could terminate the benefit. For more information on
optional benefit restrictions, please refer to Appendix B: “Optional
Enhanced Death Benefits” and Appendix C: “Optional Guaranteed Minimum Withdrawal
Benefits. |
TAXES | |||
Tax Implications |
You should consult with a tax professional to determine the tax
implications of an investment in and Purchase Payments
received under the Contract. There is no additional tax benefit to you if the Contract was purchased through a tax-qualified plan or an individual retirement
account (IRA). If we pay out any amount of your Contract Value upon
surrender or partial withdrawal, all or part of that
distribution would generally be treated as a return of the
Purchase Payments paid, with any portion not treated as a return of your
Purchase Payments subject to ordinary income tax, and may be
subject to tax penalties. | ||
CONFLICTS OF INTEREST | |||
Investment Professional
Compensation |
Some investment professionals may have received compensation for selling
the Contract by means of various commissions and revenue
sharing arrangements. The investment professional may have
had a financial incentive to offer or recommend this Contract over another investment. For more information on investment professional compensation, please refer
to “VI. General Information about Us, the Separate Accounts and the
Portfolios.” | ||
Exchanges |
Some investment professionals may have a financial incentive to offer you
a new Contract in place of the one you already own, and you
should only exchange your Contract if you determine, after
comparing the features, fees, and risks of both contracts, that it is preferable for you to purchase the new contract rather than continue to own the existing Contract. For more information on exchanges, please refer to “IX. Federal Tax Matters.” |
If you elected to purchase any of these guaranteed minimum withdrawal benefit Riders, you may invest your Contract Value
only in the Investment Options we make available for these benefits (see
Appendix C: “Optional Guaranteed Minimum Withdrawal
Benefits”). We also reserve the right to impose additional restrictions on Investment Options at any time. |
|
John Hancock USA Contracts |
John Hancock New York Contracts | ||||
|
Ven 20, 22,
2006 |
Ven 7,
Ven 8 |
Ven 1,
Ven 3 |
Ven 24, 2006
with Payment
Enhancement
Rider |
Ven 24, 2006
without Payment
Enhancement
Rider |
Ven 9 |
Withdrawal Charge
(as percentage of Purchase Payments)1 |
6%2 |
6%3 |
6%4 |
8%5 |
6%2 |
6%3 |
Transfer Fee6 |
$25 |
$0 |
$25 |
$25 |
$25 |
$25 |
|
Venture®2006
|
Ven 20, 22 |
Ven 3, Ven 7
and Ven 8 |
Ven 1 | |
Administrative Expenses1 |
$30 |
$30 |
$30 |
$30 | |
Base Contract Expenses2,3 (as a percentage of
Separate Account value) |
Contract Years
1-7 |
Contract Years
8+ |
|
|
|
|
1.15% |
1.00% |
1.40% |
1.40% |
1.30% |
Optional Benefit Expenses |
Contract Years
1-7 |
Contract Years
8+ |
|
|
|
Optional Guaranteed Earnings Multiplier Fee (as a
percentage of the value of each Variable Investment
Option) |
not offered |
not offered |
0.20% |
not offered |
not offered |
Optional Annual Step-Up Death Benefit Fee (as a
percentage of the Variable Investment Options value)5 |
0.20% |
0.20% |
not offered |
not offered |
not offered |
Fees Deducted from Contract Value: |
|
|
|
|
|
Optional Guaranteed Minimum Withdrawal Benefit
Rider Fee (maximum)6 |
1.20% |
1.20% |
1.20% |
not offered |
not offered |
Optional Guaranteed Retirement Income Programs
(as a percentage of Income Base)7 |
not offered |
not offered |
0.50% |
not offered |
not offered |
Optional Triple Protection Death Benefit
(as a percentage of Triple Protection Death Benefit)8 |
not offered |
not offered |
0.50% |
not offered |
not offered |
|
Venture®2006
|
Ven 24 |
Ven 9 | |
Administrative Expenses1 |
$30 |
$30 |
$30 | |
Base Contract Expenses2,3 (as a percentage of Contract Value) |
Contract Years
1-7 |
Contract Years
8+ |
|
|
|
1.00% |
0.85% |
1.25% |
1.25% |
|
0.15% |
0.15% |
0.15% |
0.15% |
Optional Benefit Expenses |
Contract Years
1-7 |
Contract Years
8+ |
|
|
Fees deducted from Separate Account:4 |
|
|
|
|
(as a percentage of the Variable Investment Options) |
|
|
|
|
Optional Annual Step-Up Death Benefit Fee5 |
0.20% |
0.20% |
not offered |
not offered |
Optional Payment Enhancement Fee |
0.35% |
0.35% |
0.35% |
not offered |
Other Account Fees Deducted from Contract
Value: |
|
|
|
|
Optional Guaranteed Minimum Withdrawal Benefit Rider Fee
(maximum)6 |
1.20% |
1.20% |
0.75% |
not offered |
Optional Guaranteed Retirement Income Programs
(as a percentage of Income Base)7 |
not offered |
not offered |
0.45% |
not offered |
Rider |
Issued In |
Maximum Fee |
Current Fee |
Income Plus For Life ® (Annual Step-Up Review)1 |
All states |
1.20% |
0.60% |
Income Plus For Life –Joint Life ® Plus (Annual Step-Up
Review)1 |
All states except New York |
1.20% |
0.60% |
Income Plus For Life ® (Quarterly Step-Up Review)1 |
All states except New York |
1.20% |
0.75% |
Income Plus For Life ® (Quarterly Step-Up Review)1 |
New York |
1.20% |
0.70% |
Income Plus For Life – Joint Life® (Quarterly Step-Up Review)1 |
All states except New York |
1.20% |
0.75% |
Income Plus For Life – Joint Life ® (Quarterly Step-Up
Review))1 |
New York |
1.20% |
0.70% |
Income Plus For Life®12.081 |
All states except New York |
1.20% |
0.85% |
Income Plus For Life®12.081 |
New York |
1.20% |
0.80% |
Income Plus For Life - Joint Life®12.081 |
All states except New York |
1.20% |
0.85% |
Income Plus For Life - Joint Life®12.081 |
New York |
1.20% |
0.80% |
Rider |
Issued In |
Maximum Fee |
Current Fee |
Principal Plus For Life Plus Automatic Annual Step-Up1 |
All states |
1.20% |
0.70% |
Principal Plus for Life |
All states |
0.75% |
0.40% |
Principal Plus |
All states |
0.75% |
0.30% |
Principal Returns |
All states |
0.95% |
0.50% |
Annual Portfolio Company Expenses |
Minimum1 |
Maximum |
(expenses that are deducted from Portfolio Company assets, including
management fees, distribution and/or service (Rule 12b-1
fees), and other expenses for Contracts issued on and after
May 13, 2002) |
0.64% |
1.42% |
(expenses that are deducted from Portfolio Company assets, including
management fees, distribution and/or service (Rule 12b-1
fees), and other expenses for Contracts issued prior to May
13, 2002) |
0.44% |
1.33% |
|
1 Year |
3 Years |
5 Years |
10 Years |
If you surrender the Contract at the end of the applicable time
period: |
$9,286 |
$16,289 |
$23,679 |
$41,812 |
If you annuitize, or do not surrender the Contract at the end of the
applicable time period: |
$3,734 |
$11,542 |
$19,794 |
$41,812 |
|
1 Year |
3 Years |
5 Years |
10 Years |
If you surrender the Contract at the end of the applicable time
period: |
$7,437 |
$10,701 |
$13,834 |
$20,725 |
If you annuitize, or do not surrender the Contract at the end of the
applicable time period: |
$1,848 |
$5,719 |
$9,834 |
$20,725 |
|
1 Year |
3 Years |
5 Years |
10 Years |
If you surrender the Contract at the end of the applicable time
period: |
$9,295 |
$16,260 |
$23,459 |
$40,943 |
If you annuitize, or do not surrender the Contract at the end of the
applicable time period: |
$3,776 |
$11,545 |
$19,597 |
$40,943 |
|
1 Year |
3 Years |
5 Years |
10 Years |
If you surrender the Contract at the end of the applicable time
period: |
$7,672 |
$11,421 |
$15,114 |
$23,903 |
If you annuitize, or do not surrender the Contract at the end of the
applicable time period: |
$2,100 |
$6,480 |
$11,114 |
$23,903 |
Name of
Benefit |
Purpose |
Is Benefit
Standard
or Optional? |
Maximum
Fee |
Brief
Description of
Restrictions/Limitations |
Dollar Cost
Averaging
(“DCA”) |
Under the DCA program, you
designate an amount that is
transferred monthly from one
variable or fixed investment account
into any other variable investment
account. |
Standard |
No charge |
•DCA Fixed Investment Options may not always be available. You may elect out of the DCA program at any time. •Offered in all states. |
Asset
Rebalancing
Program |
Under the asset allocation
rebalancing program, you designate
a percentage allocation of Contract
Value among variable investment
accounts. We automatically transfer
amounts among the variable
investment accounts at intervals you
select (annually, semi- annually,
quarterly, or monthly) to reestablish
your chosen allocation. |
Standard |
No charge |
•We reserve the right to cease this program after written notice to you. •Offered in all states. |
The Income Plan |
The Income Plan (“IP”) permits you
to pre-authorize a periodic exercise
of the Contract’s withdrawal rights
by instructing us to withdraw a level
dollar amount from specified
Investment Options on a periodic
basis. |
Optional |
No charge |
•Income Plan withdrawals may be limited and may incur withdrawal charges •We reserve the right to suspend your ability to make Additional Purchase Payments while you are enrolled in an IP. IP withdrawals, like other withdrawals, may be subject to income tax and a 10% penalty tax. •Offered in all states. |
Death Benefit |
If the Owner dies before the Annuity
Commencement Date, the Death
Benefit will be the greater of the
Contract Value or the Minimum
Death Benefit, less any Debt. If the Annuitant dies
during the Pay- out Period after an Annuity Option
has been selected, and, we make the
remaining guaranteed payments to
the Beneficiary. |
Standard |
No charge |
•We do not make any payments to
a Beneficiary if the last surviving
Covered Person dies while we are
making payments under an
Annuity Option providing only
for payments for life, or payments
during the Settlement Phase
under an optional GMWB Rider. |
Name of
Benefit |
Purpose |
Is Benefit
Standard
or Optional? |
Maximum
Fee |
Brief
Description of
Restrictions/Limitations |
Waiver of
Applicable
Withdrawal
Charge –
Confinement to
Eligible Nursing
Home |
Any applicable withdrawal charge
will be waived on a total withdrawal
prior to the Maturity Date if
confined to an Eligible Nursing
Home. |
Optional |
No charge |
•For Contracts issued on or after May 1, 2002. •Not offered in MA and NY. |
Income Made
Easy Program |
Provides payment of an income for
the lifetime of the Covered Person. |
Optional |
No charge |
•Requires a GMWB Rider with a Contract. •Offered in all states. |
Enhanced
Earnings Death
Benefit |
Provides a payment equal to 40% of
the appreciation in the Contract
Value (i.e., the Contract Value less
the sum of all Purchase Payments,
reduced proportionally by any
amount deducted in connection with
withdrawals) upon the death of any
Contract Owner if the oldest Owner
is 69 or younger at issue, and 25% if
the oldest Owner is 70 or older at
issue. |
Optional |
0.20% (of the
value of the
Variable
Investment
Options) |
•Only available at issue. •Not offered in NY and WA. |
Annual Step-Up
Death Benefit |
Guarantees a minimum death benefit
up to the Maturity Date based on the
Contract’s highest “Anniversary
Value” that may be achieved before
you (or any joint Owner) reach 81
years old. |
Optional |
0.20% (of the
value of the
Variable
Investment
Options) |
•The Annual Step-Up Death
Benefit was available only with
Principle Plus for Life Riders and
only if you (and every joint
Owner) were under age 80 when
we issued the Contract. •The Rider cannot be revoked once elected. |
Name of
Benefit |
Purpose |
Is Benefit
Standard
or Optional? |
Maximum
Fee |
Brief
Description of
Restrictions/Limitations |
Guaranteed
Minimum
Withdrawal
Benefit
(“GMWB”)
Riders |
Lifetime Income Amount type of
benefit provides a guarantee of a
minimum amount available for
annual withdrawals for the duration
of a single lifetime, or for the
duration of two (“joint”) lifetimes.
Guaranteed Withdrawal Amount
type of benefit provides a guarantee
of a minimum amount available for
annual withdrawals that will last for
a period of time measured by a
Benefit Base. The Rider may
provide either or both types of
benefits. The GMWB Riders we
have offered are: |
Optional |
|
•Only available at issue. •The GMWB Rider fees are listed in APPENDIX C and are deducted on each Contract Anniversary. •We reserve the right to increase the fee on the effective date of each Step-Up. •The Investment Options available under GMWB Riders are restricted. |
•Income Plus For Life® (Annual Step-Up Review) |
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states. | ||
•Income Plus For Life –Joint
Life®
Plus (Annual Step-Up Review) |
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states except NY. | ||
•Income Plus For Life® (Quarterly Step-Up Review) |
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states. | ||
•Income Plus For Life – Joint Life® (Quarterly Step-Up Review)) |
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states. | ||
•Income Plus For Life ® 12.08; |
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states. | ||
•Income Plus For Life – Joint Life ®12.08 |
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states. | ||
•Income Plus For Life – Joint Life ® (Annual Step-Up
Review); |
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states except NY. | ||
•Principal Plus For Life Plus
Automatic Annual Step-Up |
1.20% (of the
Adjusted
Guaranteed
Withdrawal
Balance) |
Offered only in NY. | ||
•Principal Plus for Life (formerly known as “Guaranteed Principal Plus for Life”) |
0.75% (of the
Adjusted
Guaranteed
Withdrawal
Balance) |
Offered in all states. | ||
•Principal Plus (formerly known as “Guaranteed Principal Plus”) |
0.75% (of the
Adjusted
Guaranteed
Withdrawal
Balance) |
Offered in all states. | ||
•Principal Returns |
0.95% (of the
Adjusted
Guaranteed
Withdrawal
Balance) |
Offered in all states. |
Name of
Benefit |
Purpose |
Is Benefit
Standard
or Optional? |
Maximum
Fee |
Brief
Description of
Restrictions/Limitations |
Guaranteed
Minimum
Income Benefit
(“GMIB”) Riders |
Guarantees a minimum lifetime
fixed income benefit in the form of
fixed monthly annuity payments. The GMIB Riders we
have offered are: |
Optional |
|
Only available at issue. |
•Guaranteed Retirement Income Benefit II |
0.45% (of the
Income Base
in effect on
each Contract
Anniversary) |
Offered in all states. | ||
•Guaranteed Retirement Income Benefit III |
0.50% (of the
Income Base
in effect on
each Contract
Anniversary) |
Offered in all states except NY. | ||
Payment
Enhancement |
Credits a Payment Enhancement
equal to 4% (5% for Contracts
issued between July 12 and October
30, 2004) of the Purchase Payment
and allocates it among Investment
Options in the same proportions as
your Purchase Payments. |
Optional |
0.35% (of the
Variable
Investment
Options) |
•Subject to a higher withdrawal
charge and for a longer period of
time. Could only be elected at
Contract issue, and cannot be
revoked once elected. •The initial Purchase Payment must have been at least $10,000 to elect the Purchase Enhancement Rider. •Offered only in NY. |
Contract Version |
Availability1 |
Death Benefit based on |
Venture®2006
|
May 2006 – October 2011 |
Owner |
Contract Version |
Availability1 |
Death Benefit based on |
Ven 20, 22 |
May 1998 – May 2006 |
Oldest Owner |
Ven 24 (NY Only) |
May 1999 – May 2006 |
Oldest Owner |
Contract Version |
Availability2 |
Death Benefit based on |
Ven 20, 22 |
May 1994 – May 1998 |
Oldest Owner |
From August 15, 1994 to: |
In the states of: |
May 1, 1998 |
Alaska, Alabama, Arizona, Arkansas, California, Colorado,
Delaware, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa,
Kansas, Kentucky, Louisiana, Maine, Michigan,
Mississippi, Missouri, Nebraska, Nevada, New Jersey, New
Mexico, North Carolina, North Dakota, Ohio, Oklahoma,
Pennsylvania, Rhode Island, South Carolina, South Dakota,
Tennessee, Utah, Vermont, Virginia, West Virginia,
Wisconsin, Wyoming |
June 1, 1998 |
Connecticut |
July 1, 1998 |
Minnesota, Montana, District of Columbia |
October 1, 1998 |
Texas |
February 1, 1999 |
Massachusetts |
March 15, 1999 |
Florida, Maryland, Oregon |
November 1, 1999 |
Washington |
Contract Version |
Availability |
Death Benefit based on |
Ven 7 |
August 1989 – April 1999 |
Any Annuitant |
Ven 8 |
September 1992 – February 1999 |
Any Annuitant |
Ven 9 (NY Only) |
March 1992 – May 1999 |
Any Annuitant |
Contract Version |
Availability |
Death Benefit based on |
Ven 3 |
November 1986 – October 1993 |
Any Annuitant |
Ven 1 |
June 1985 – June 1987 |
Any Annuitant |
Please review your Contract carefully to determine the Maturity Date applicable to your Contract. |
Contract Version |
Rate |
Venture®2006 |
4.04% |
Ven 20, 22, and 24 |
4.45% |
Ven 3, 7, 8 and 9 |
5.47% |
Ven 1 |
5.36% |
Once annuity payments begin under an Annuity Option, you cannot make any additional withdrawals under a Contract with
a GMWB Rider |
|
Ven 20
Ven 22
Venture®2006
|
Ven 7
Ven 8 |
Ven 1
Ven 3 |
First Year |
6% |
6% |
5% |
Second Year |
6% |
6% |
5% |
Third Year |
5% |
5% |
5% |
Fourth Year |
5% |
4% |
5% |
Fifth Year |
4% |
3% |
5% |
Sixth Year |
3% |
2% |
0% |
Seventh Year |
2% |
0% |
0% |
Thereafter |
0% |
0% |
0% |
|
Ven 24
Venture®2006
(With Payment
Enhancement) |
Ven 24
Venture®2006
(Without Payment
Enhancement) |
Ven 9 |
First Year |
8% |
6% |
6% |
Second Year |
8% |
6% |
6% |
Third Year |
7% |
5% |
5% |
Fourth Year |
7% |
5% |
4% |
Fifth Year |
5% |
4% |
3% |
Sixth Year |
4% |
3% |
2% |
Seventh Year |
3% |
2% |
0% |
Eighth Year |
1% |
0% |
0% |
Thereafter |
0% |
0% |
0% |
|
Premium Tax Rate1 | |
State or Territory |
Qualified Contracts |
Nonqualified Contracts |
CA |
0.50% |
2.35% |
CO |
0.00% |
2.00% |
GUAM |
4.00% |
4.00% |
ME2 |
0.00% |
2.00% |
NV |
0.00% |
3.50% |
PR |
1.00% |
1.00% |
SD2 |
0.00% |
1.25%3 |
TX4 |
0.04% |
0.04% |
WY |
0.00% |
1.00% |
You must pay tax on any portion of a conversion or rollover amount that would have been taxed if you had not converted or
rolled over to a Roth IRA. If you convert a Contract issued as a traditional
IRA to a Roth IRA, the amount deemed to be the conversion
amount for tax purposes may be higher than the Contract Value because of the deemed value of guarantees. If you convert a Contract issued as a traditional IRA to a Roth IRA, you may instruct us not to withhold any of the conversion
amount for taxes and remittance to the IRS. If you do instruct us to withhold
for taxes when converting a Contract issued as a traditional
IRA to a Roth IRA, we will treat any amount we withhold as a withdrawal from your Contract, which could result in an Excess Withdrawal and a reduction in the benefit value of any elected optional guarantee Rider, in a proportion
determined by the Rider. Please read Appendix C: “Optional Guaranteed
Minimum Withdrawal Benefits” for more information about
the impact of withdrawals. |
Other Qualified Plan Type |
|
SIMPLE IRA Plans |
In general, under Section 408(p) of the Code a small business employer may
establish a SIMPLE IRA plan if the employer employed no more
than 100 employees. In general, an employee must be covered
by the SIMPLE IRA, if the employee is expected to earn at
least $5,000 during the current calendar year and had $5,000
of earnings during any two years preceding the current calendar year. Under a SIMPLE IRA plan both employees and the employer make deductible contributions.
SIMPLE IRAs are subject to various requirements, including limits on the
amounts that may be contributed, the persons who may be
eligible, and the time when distributions may commence. The
requirements for minimum distributions from a SIMPLE IRA
plan are generally the same as those discussed above for distributions from a traditional IRA. The rules on taxation of distributions are also similar to those
that apply to a traditional IRA with a few exceptions. |
Simplified Employee Pensions
(SEP-IRAs) |
Section 408(k) of the Code allows employers to establish simplified employee
pension plans for their employees, using the employees’ IRAs for
such purposes, if certain criteria are met. Under these
plans the employer may, within specified limits, make
deductible contributions on behalf of the employees to IRAs. The requirements for minimum distributions from a SEP-IRA, and rules on taxation of distributions
from a SEP-IRA, are generally the same as those discussed above for
distributions from a traditional IRA. |
Other Qualified Plan Type |
|
Section 403(b) Plans or Tax-
Sheltered Annuities |
Section 403(b) of the Code permits public school employees and employees
of certain types of tax-exempt organizations to have their
employers purchase annuity contracts for them and, subject
to certain limitations, to exclude the Purchase Payments
from gross income for tax purposes. There also are limits on the amount of incidental benefits that may be provided under a tax-sheltered annuity. These
Contracts are commonly referred to as “tax-sheltered
annuities.” |
Corporate and Self-Employed
Pension and Profit-Sharing Plans
(H.R. 10 and Keogh) |
Sections 401(a) and 403(a) of the Code permit corporate employers to
establish various types of tax-deferred retirement plans for
employees. The Self-Employed Individuals’ Tax
Retirement Act of 1962, as amended, commonly referred to as “H.R. 10” or “Keogh,” permits self-employed individuals to establish tax-favored
retirement plans for themselves and their employees. Such retirement plans
may permit the purchase of annuity contracts in order to
provide benefits under the plans; however, there are limits
on the amount of incidental benefits that may be provided
under pension and profit sharing plans. |
Deferred Compensation Plans of
State and Local Governments
and Tax-Exempt Organizations |
Section 457 of the Code permits employees of state and local governments and tax-
exempt organizations to defer a portion of their compensation without
paying current taxes. The employees must be participants in
an eligible deferred compensation plan. A Section 457 plan
must satisfy several conditions, including the requirement that it must not permit distributions prior to your separation from service (except in the
case of an unforeseen emergency). When we make payments under a Section
457 Contract, the payment is taxed as ordinary
income. |
If we have to withhold a portion of your distribution, we will treat any amount we withhold as a withdrawal from your
Contract, which could result in an Excess Withdrawal or other type of
reduction in the guarantees and benefits that you may have
purchased under an optional benefits Rider to your Contract. |
We do not need to withhold any amounts if you provide us with information, on the forms we require for this purpose, that
you wish to assign a Qualified Contract to another Qualified Plan and/or
transfer amounts from that Contract directly to another
Qualified Plan. Similarly, if you wish to make Additional Purchase Payments to a Qualified Contract, you may find it advantageous to instruct your existing retirement plan to transfer amounts directly to us, in lieu of making a distribution to
you. You should seek independent tax advice if you intend to maintain a Contract for use with a Qualified Plan. |
If you instruct us to transfer a rollover amount from a Qualified Contract to a Roth IRA, we will assume it is permitted
under your plan and you may instruct us to not withhold any of the rollover
for taxes and remittance to the IRS. A direct rollover is not
subject to mandatory tax withholding, even if the distribution is includible in gross income. If you instruct us to withhold taxes in connection with a direct rollover from an existing Contract to a Roth IRA, we will treat any amount we
withhold as a withdrawal from your Contract. This could result in an Excess
Withdrawal, or other reduction of the guarantees and benefits
you may have purchased under an optional benefits Rider to your Contract. Please read Appendix C: “Optional Guaranteed Minimum Withdrawal Benefits” for information about the impact of withdrawals on optional
benefit Riders. |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To approximate the aggregate total return
of a broad-based U.S. domestic equity
market index. |
500 Index Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.30%* |
25.90 |
15.34 |
11.69 |
To approximate the aggregate total return
of a broad-based U.S. domestic equity
market index. |
500 Index Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.50%* |
25.64 |
15.11 |
11.47 |
To seek income and capital appreciation. |
Active Bond Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.71% |
6.43 |
1.62 |
2.34 |
To seek income and capital appreciation. |
Active Bond Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.91% |
6.21 |
1.41 |
2.13 |
To seek to provide high total return
(including income and capital gains)
consistent with preservation of capital
over the long term. |
American Asset Allocation Trust - Series
I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
0.93% |
13.90 |
8.80 |
6.86 |
To seek to provide high total return
(including income and capital gains)
consistent with preservation of capital
over the long term. |
American Asset Allocation Trust - Series
II
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.08% |
13.68 |
8.70 |
6.75 |
To seek to provide long-term growth of
capital. |
American Global Growth Trust - Series II
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.21%* |
22.02 |
13.12 |
9.07 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek to provide growth of capital. |
American Growth Trust - Series II
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.12%* |
37.88 |
18.17 |
13.85 |
To seek to provide long-term growth of
capital and income. |
American Growth-Income Trust - Series I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
0.91%* |
25.68 |
12.95 |
10.52 |
To seek to provide long-term growth of
capital and income. |
American Growth-Income Trust - Series
II
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.06%* |
25.52 |
12.86 |
10.41 |
To seek to provide long-term growth of
capital. |
American International Trust - Series II
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.32%* |
15.23 |
4.31 |
2.89 |
To provide long-term growth of capital.
Current income is a secondary objective. |
Blue Chip Growth Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
0.82%* |
49.56 |
13.53 |
12.34 |
To provide long-term growth of capital.
Current income is a secondary objective. |
Blue Chip Growth Trust - Series II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.02%* |
49.25 |
13.31 |
12.12 |
To seek long-term growth of capital. |
Capital Appreciation Trust - Series I
John Hancock Variable Trust Advisers
LLC/Jennison Associates LLC |
0.81%* |
52.85 |
17.98 |
14.11 |
To seek long-term growth of capital. |
Capital Appreciation Trust - Series II
John Hancock Variable Trust Advisers
LLC/Jennison Associates LLC |
1.01%* |
52.51 |
17.74 |
13.87 |
To seek long-term capital appreciation. |
Capital Appreciation Value Trust - Series
II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.14%* |
18.01 |
12.20 |
10.03 |
To seek total return consisting of income
and capital appreciation. |
Core Bond Trust - Series I
John Hancock Variable Trust Advisers
LLC/Allspring Global Investments, LLC |
0.68%* |
5.80 |
1.05 |
1.69 |
To seek total return consisting of income
and capital appreciation. |
Core Bond Trust - Series II
John Hancock Variable Trust Advisers
LLC/Allspring Global Investments, LLC |
0.88%* |
5.61 |
0.85 |
1.49 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek long-term growth of capital. |
Disciplined Value International Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Boston Partners Global Investors, Inc. |
0.84%* |
19.96 |
8.42 |
3.05 |
To seek long-term growth of capital. |
Disciplined Value International Trust -
Series II
John Hancock Variable Trust Advisers
LLC/Boston Partners Global Investors, Inc. |
1.04%* |
19.69 |
8.21 |
2.84 |
To seek long-term capital appreciation. |
Emerging Markets Value Trust - Series II
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP |
1.28%* |
14.85 |
5.17 |
2.84 |
To provide substantial dividend income
and also long-term growth of capital. |
Equity Income Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
0.76%* |
9.39 |
11.08 |
7.82 |
To provide substantial dividend income
and also long-term growth of capital. |
Equity Income Trust - Series II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
0.96%* |
9.26 |
10.88 |
7.61 |
To seek growth of capital. |
Financial Industries Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.94%* |
5.22 |
9.67 |
7.04 |
To seek growth of capital. |
Financial Industries Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
1.14%* |
4.98 |
9.44 |
6.82 |
To seek long-term growth of capital. |
Fundamental All Cap Core Trust - Series
II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.96%* |
35.10 |
18.07 |
12.04 |
To seek long-term capital appreciation. |
Fundamental Large Cap Value Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.78%* |
23.45 |
17.57 |
10.18 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek long-term capital appreciation. |
Fundamental Large Cap Value Trust -
Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.98%* |
23.22 |
17.35 |
9.97 |
To seek long-term capital appreciation. |
Global Equity Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.94%* |
20.09 |
8.94 |
4.52 |
To seek long-term capital appreciation. |
Global Equity Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
1.14%* |
19.81 |
8.72 |
4.31 |
To seek long-term capital appreciation. |
Health Sciences Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.05%* |
4.25 |
10.52 |
10.89 |
To seek long-term capital appreciation. |
Health Sciences Trust - Series II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.25%* |
4.02 |
10.29 |
10.67 |
To realize an above-average total return
over a market cycle of three to five years,
consistent with reasonable risk. |
High Yield Trust - Series I
John Hancock Variable Trust Advisers
LLC/Western Asset Management Company, LLC |
0.86%* |
13.05 |
4.90 |
3.54 |
To realize an above-average total return
over a market cycle of three to five years,
consistent with reasonable risk. |
High Yield Trust - Series II
John Hancock Variable Trust Advisers
LLC/Western Asset Management Company, LLC |
1.06%* |
12.70 |
4.70 |
3.33 |
To seek to track the performance of a
broad-based equity index of foreign
companies primarily in developed
countries and, to a lesser extent, in
emerging markets. |
International Equity Index Trust - Series I
John Hancock Variable Trust Advisers
LLC/SSGA Funds Management, Inc. |
0.39%* |
15.36 |
6.90 |
3.65 |
To seek to track the performance of a
broad-based equity index of foreign
companies primarily in developed
countries and, to a lesser extent, in
emerging markets. |
International Equity Index Trust - Series
II
John Hancock Variable Trust Advisers
LLC/SSGA Funds Management, Inc. |
0.59%* |
15.18 |
6.70 |
3.45 |
To seek long-term capital appreciation. |
International Small Company Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP |
1.05%* |
13.44 |
7.00 |
4.21 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek long-term capital appreciation. |
International Small Company Trust -
Series II
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP |
1.25%* |
13.33 |
6.80 |
4.01 |
To provide a high level of current income
consistent with the maintenance of
principal and liquidity. |
Investment Quality Bond Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
0.76%* |
6.49 |
1.37 |
1.94 |
To provide a high level of current income
consistent with the maintenance of
principal and liquidity. |
Investment Quality Bond Trust - Series II
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
0.96%* |
6.28 |
1.17 |
1.74 |
To seek a balance between a high level of
current income and growth of capital,
with a greater emphasis on growth of
capital. |
Lifestyle Balanced Portfolio - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.69% |
13.74 |
6.91 |
5.37 |
To seek a balance between a high level of
current income and growth of capital,
with a greater emphasis on growth of
capital. |
Lifestyle Balanced Portfolio - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.89% |
13.50 |
6.70 |
5.15 |
To seek a high level of current income
with some consideration given to growth
of capital. |
Lifestyle Conservative Portfolio - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.71%* |
9.12 |
3.62 |
3.29 |
To seek a high level of current income
with some consideration given to growth
of capital. |
Lifestyle Conservative Portfolio - Series
II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.91%* |
8.90 |
3.42 |
3.09 |
To seek long-term growth of capital.
Current income is also a consideration. |
Lifestyle Growth Portfolio - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.67% |
17.00 |
9.09 |
6.72 |
To seek long-term growth of capital.
Current income is also a consideration. |
Lifestyle Growth Portfolio - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.87% |
16.67 |
8.86 |
6.49 |
To seek a balance between a high level of
current income and growth of capital,
with a greater emphasis on income. |
Lifestyle Moderate Portfolio - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.70%* |
12.15 |
5.81 |
4.67 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek a balance between a high level of
current income and growth of capital,
with a greater emphasis on income. |
Lifestyle Moderate Portfolio - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.90%* |
11.91 |
5.59 |
4.46 |
To seek growth of capital and current
income while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses. |
Managed Volatility Balanced Portfolio -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.81% |
11.99 |
4.62 |
3.81 |
To seek growth of capital and current
income while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses. |
Managed Volatility Balanced Portfolio -
Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
1.01% |
11.79 |
4.42 |
3.61 |
To seek current income and growth of
capital, while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses. |
Managed Volatility Conservative Portfolio
- Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.80% |
5.47 |
1.74 |
2.36 |
To seek current income and growth of
capital, while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses. |
Managed Volatility Conservative Portfolio
- Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
1.00% |
5.20 |
1.54 |
2.16 |
To seek long term growth of capital while
seeking to both manage the volatility of
return and limit the magnitude of
portfolio losses. |
Managed Volatility Growth Portfolio -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.84% |
13.69 |
5.18 |
3.70 |
To seek long term growth of capital while
seeking to both manage the volatility of
return and limit the magnitude of
portfolio losses. |
Managed Volatility Growth Portfolio -
Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
1.04% |
13.54 |
4.98 |
3.50 |
To seek current income and growth of
capital while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses. |
Managed Volatility Moderate Portfolio -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.80% |
10.64 |
4.15 |
3.72 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek current income and growth of
capital while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses. |
Managed Volatility Moderate Portfolio -
Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
1.00% |
10.54 |
3.94 |
3.52 |
To seek long-term growth of capital. |
Mid Cap Growth Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
0.95% |
18.71 |
12.32 |
9.73 |
To seek long-term growth of capital. |
Mid Cap Growth Trust - Series II
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
1.15% |
18.63 |
12.11 |
9.52 |
Seeks to approximate the aggregate total
return of a mid cap U.S. domestic equity
market index. |
Mid Cap Index Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.46%* |
16.01 |
12.14 |
8.81 |
Seeks to approximate the aggregate total
return of a mid cap U.S. domestic equity
market index. |
Mid Cap Index Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.66%* |
15.73 |
11.93 |
8.59 |
To seek long-term capital appreciation. |
Mid Value Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.01%* |
18.52 |
13.06 |
9.29 |
To seek long-term capital appreciation. |
Mid Value Trust - Series II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.21%* |
18.25 |
12.80 |
9.06 |
To obtain maximum current income
consistent with preservation of principal
and liquidity. |
Money Market Trust** - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.33%* |
4.76 |
1.64 |
1.04 |
To obtain maximum current income
consistent with preservation of principal
and liquidity. |
Money Market Trust** - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.53%* |
4.55 |
1.51 |
0.92 |
To seek maximum total return, consistent
with preservation of capital and prudent
investment management. |
Opportunistic Fixed Income Trust - Series
I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
0.93%* |
8.23 |
2.67 |
2.16 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek maximum total return, consistent
with preservation of capital and prudent
investment management. |
Opportunistic Fixed Income Trust - Series
II
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
1.13%* |
7.97 |
2.45 |
1.96 |
To seek to achieve a combination of long-
term capital appreciation and current
income. |
Real Estate Securities Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
0.81%* |
13.02 |
7.69 |
7.94 |
To seek to achieve a combination of long-
term capital appreciation and current
income. |
Real Estate Securities Trust - Series II
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
1.01%* |
12.80 |
7.47 |
7.73 |
To seek long-term growth of capital.
Current income is incidental to the fund’s
objective. |
Science & Technology Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.04%* |
54.68 |
18.61 |
15.70 |
To seek long-term growth of capital.
Current income is incidental to the fund’s
objective. |
Science & Technology Trust - Series II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.24%* |
54.37 |
18.38 |
15.48 |
To seek income and capital appreciation. |
Select Bond Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.85%* |
5.88 |
1.13 |
1.67 |
To seek a high level of current income
consistent with preservation of capital.
Maintaining a stable share price is a
secondary goal. |
Short Term Government Income Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.72%* |
3.92 |
0.48 |
0.62 |
To seek a high level of current income
consistent with preservation of capital.
Maintaining a stable share price is a
secondary goal. |
Short Term Government Income Trust -
Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.92%* |
3.63 |
0.27 |
0.41 |
Seeks to approximate the aggregate total
return of a small cap U.S. domestic equity
market index. |
Small Cap Index Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.53%* |
16.49 |
9.56 |
6.80 |
Seeks to approximate the aggregate total
return of a small cap U.S. domestic equity
market index. |
Small Cap Index Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.73%* |
16.22 |
9.33 |
6.59 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek long-term capital appreciation. |
Small Cap Opportunities Trust - Series I
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP and GW&K Investment Management, LLC |
0.89%* |
18.05 |
13.93 |
7.86 |
To seek long-term capital appreciation. |
Small Cap Opportunities Trust - Series II
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP and GW&K Investment Management, LLC |
1.09%* |
17.83 |
13.70 |
7.64 |
To seek long-term capital appreciation. |
Small Cap Stock Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
1.13%* |
16.10 |
11.10 |
7.37 |
To seek long-term capital appreciation. |
Small Cap Stock Trust - Series II
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
1.33%* |
15.89 |
10.90 |
7.16 |
To seek long-term capital appreciation. |
Small Cap Value Trust - Series II
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
1.24%* |
13.85 |
8.58 |
5.81 |
To seek long-term growth of capital. |
Small Company Value Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.21%* |
13.49 |
9.19 |
6.54 |
To seek long-term growth of capital. |
Small Company Value Trust - Series II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.41%* |
13.38 |
8.99 |
6.33 |
To seek a high level of current income. |
Strategic Income Opportunities Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.79%* |
7.37 |
3.25 |
2.79 |
To seek a high level of current income. |
Strategic Income Opportunities Trust -
Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.99%* |
7.23 |
3.06 |
2.59 |
To seek to track the performance of the
Bloomberg U.S. Aggregate Bond Index
(the “Bloomberg Index”) (which
represents the U.S. investment grade bond
market). |
Total Bond Market Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.50%* |
5.02 |
0.56 |
1.33 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
Seeks to approximate the aggregate total
return of a broad U.S. domestic equity
market index. |
Total Stock Market Index Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.58%* |
25.53 |
14.38 |
10.73 |
Seeks to approximate the aggregate total
return of a broad U.S. domestic equity
market index. |
Total Stock Market Index Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.78%* |
25.25 |
14.15 |
10.51 |
The fund seeks a high level of current
income consistent with the maintenance
of liquidity and the preservation of
capital. |
Ultra Short Term Bond Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.87%* |
4.41 |
1.36 |
0.83 |
Contract Year |
Hypothetical
Contract Value |
Free
Withdrawal
Amount |
Payments
Liquidated |
Withdrawal Charge | |
Percent |
Amount | ||||
2 |
$55,000 |
$5,0001 |
$50,000 |
6% |
$3,000 |
4 |
$50,500 |
$5,0002 |
$45,500 |
5% |
$2,275 |
6 |
$60,000 |
$10,0003 |
$50,000 |
3% |
$1,500 |
7 |
$35,000 |
$5,0004 |
$45,0004 |
2% |
$900 |
8 |
$70,000 |
$20,0005 |
$50,000 |
0% |
$0 |
Hypothetical
Contract Value |
Withdrawal
Requested |
Free
Withdrawal
Amount |
Payments
Liquidated |
Withdrawal Charge | |
Percent |
Amount | ||||
$65,000 |
$2,000 |
$15,0001 |
$0 |
5% |
$0 |
$49,000 |
$5,000 |
$3,0002 |
$2,000 |
5% |
$100 |
$52,000 |
$7,000 |
$4,0003 |
$3,000 |
5% |
$150 |
$44,000 |
$8,000 |
$04 |
$8,000 |
5% |
$400 |
Number of Complete Years
Payment has been in Contract |
Payment Multiplier* |
0 |
100% |
1 |
110% |
2 |
120% |
3 |
130% |
Number of Complete Years
Payment has been in Contract |
Payment Multiplier* |
4 |
140% |
5 |
150% |
After: |
In the states of: |
August 15, 1994 |
Florida, Maryland and
Washington |
October 3, 1994 |
Idaho, New Jersey and
Oregon |
January 3, 1995 |
California |
Date |
Anniversary Values |
Minimum Death Benefit |
Enhanced Death Benefit |
May 1, 1994 |
$100,000 |
$100,000 |
$100,000 |
May 1, 1995 |
$97,000 |
$100,000 |
$100,000 |
May 1, 1996 |
$106,000 |
$100,000 |
$106,000 |
May 1, 1997 |
$109,000 |
$100,000 |
$109,000 |
May 1, 1998 |
$114,000 |
$100,000 |
$114,000 |
May 1, 1999 |
$104,000 |
$100,000 |
$114,000 |
May 1, 2000 |
$101,000 |
$101,000 |
$114,000 |
May 1, 2001 |
$106,000 |
$100,000 |
$114,000 |
May 1, 2002 |
$113,000 |
$100,000 |
$114,000 |
May 1, 2003 |
$115,000 |
$100,000 |
$115,000 |
May 1, 2004 |
$119,000 |
$100,000 |
$119,000 |
May 1, 2005 |
$122,000 |
$100,000 |
$122,000 |
May 1, 2006 |
$118,000 |
$118,000 |
$122,000 |
Date |
Anniversary Values |
Minimum Death Benefit |
Annual Step-Up Death Benefit |
May 1, 2006 |
$100,000 |
$100,000 |
$100,000 |
May 1, 2007 |
$97,000 |
$100,000 |
$100,000 |
May 1, 2008 |
$106,000 |
$100,000 |
$106,000 |
May 1, 2009 |
$109,000 |
$100,000 |
$109,000 |
May 1, 2010 |
$114,000 |
$100,000 |
$114,000 |
May 1, 2011 |
$104,000 |
$100,000 |
$114,000 |
May 1, 2012 |
$101,000 |
$100,000 |
$114,000 |
May 1, 2013 |
$106,000 |
$100,000 |
$114,000 |
May 1, 2014 |
$113,000 |
$100,000 |
$114,000 |
May 1, 2015 |
$115,000 |
$100,000 |
$115,000 |
May 1, 2016 |
$119,000 |
$100,000 |
$119,000 |
May 1, 2017 |
$122,000 |
$100,000 |
$122,000 |
May 1, 2018 |
$118,000 |
$100,000 |
$122,000 |
The Annual Step-Up Death Benefit may not always be in your interest since an additional fee is imposed for this benefit
and we provide no assurance that investment performance will be sufficient to
result in an increased death benefit. |
Changes to the Owner, Annuitant or Beneficiary designations after the Rider is issued may reduce, limit, or terminate
benefits available under the Rider. |
If we decide to increase the rate of a Rider fee at the time of a Step-Up, you will receive advance notice and be given the
opportunity of no less than 30 days to decline the Step-Up. If you decline a
scheduled Step-Up, we will not increase the Rider fee at that
time. You will have the option to elect a Step-Up within 30 days of subsequent Step-Up Dates. If you decide to step-up a guaranteed amount at that time, we will thereafter resume automatic Step-Ups on each succeeding Step-
Up Date. |
Model Allocation Name |
Model Allocation Percentage |
Portfolio Name |
Global Balanced PS
(only available to Global Balanced
investors; not available after June 30,
2014) |
30% 25% 25% 20% |
Fundamental Large Cap Value Trust
American International Trust
Lifestyle Balanced Portfolio Opportunistic Fixed Income Trust |
American Global Diversification
(not available after April 30, 2009) |
65% 20% 10% 5% |
American Global Growth Trust Select Bond Trust High Yield Trust Emerging Markets Value Trust |
Fundamental Holdings of America
(not available after April 30, 2009) |
35% 25% 25% 15% |
Select Bond Trust
American Growth-Income Trust
American Growth Trust
American International Trust |
Global Balanced
(not available after April 30, 2007) |
30% 25% 25% 20% |
Fundamental Large Cap Value Trust American International Trust Managed Volatility Balanced Portfolio Opportunistic Fixed Income Trust |
Blue Chip Balanced
(not available after April 30, 2007) |
40% 30% 30% |
Investment Quality Bond Trust
American Growth Trust
American Growth-Income Trust |
Value Strategy
(not available after February 10, 2006) |
30% 30% 20% 20% |
Fundamental Large Cap Value Trust
Equity Income Trust
Active Bond Trust
Strategic Income Opportunities Trust |
Model Allocation Name |
Model Allocation Percentage |
Portfolio Name |
Growth Blend
(not available after February 10, 2006) |
40% 20% 20% 20% |
Blue Chip Growth Trust American Growth-Income Trust
Active Bond Trust
Strategic Income Opportunities Trust |
Core Holdings of America
(not available after August 1, 2005) |
35% 25% 25% 15% |
Active Bond Trust American Growth Trust American Growth-Income Trust
American International Trust |
Core Solution
(not available after April 30, 2005) |
34% 33% 33% |
Strategic Income Opportunities Trust Blue Chip Growth Trust Equity Income Trust |
Value Blend
(not available after April 30, 2005) |
40% 20% 20% 20% |
Equity Income Trust American Growth Trust Active Bond Trust Strategic Income Opportunities Trust |
Global
(not available after April 30, 2005) |
30% 30% 20% 20% |
Disciplined Value International Trust
Opportunistic Fixed Income Trust
American Growth-Income Trust Blue Chip Growth Trust |
A Model Allocation may experience volatility in its investment performance or lose money, depending on the
performance of the component Portfolios referenced above.
Your investment in the Portfolios will fluctuate and, when redeemed, may be worth more or less than your original investment. For more information regarding each Portfolio
that we permit you to invest in through a Model Allocation,
including information relating to that Portfolio’s investment objectives, policies and restrictions, and the risks of investing in that Portfolio, please see “VI. General
Information about Us, the Separate Accounts and the
Portfolios,” as well as the Portfolio’s prospectus. You can obtain a Prospectus containing more complete information on each of the Portfolios by contacting the respective Annuities
Service Center shown on the back cover of this Prospectus.
You should read the Portfolio’s prospectus carefully before investing in the corresponding Investment Option. |
Excess Withdrawals may reduce or eliminate future guaranteed minimum withdrawal values. |
We base our Life Expectancy Distribution calculations on our understanding and interpretation of the requirements under
tax law applicable to Pre-59½ Distributions, Required Minimum
Distributions, Nonqualified Death Benefit Stretch Distributions
and Qualified Death Benefit Stretch Distributions. You should discuss these matters with a qualified tax professional. |
Benefit Rate by Age | ||
Covered Person’s age on the
Contract Anniversary prior to
the
first withdrawal after the
Lifetime
Income Date |
Income Plus For
Life® 1.11 or
5.09 |
Income Plus For
Life – Joint Life®1.11
or 5.09 |
59½ – 64 |
4.00% |
3.75% |
Benefit Rate by Age | ||
Covered Person’s age on the
Contract Anniversary prior to
the
first withdrawal after the
Lifetime
Income Date |
Income Plus For
Life® 1.11 or
5.09 |
Income Plus For
Life – Joint Life®1.11
or 5.09 |
65 and over |
5.00% |
4.75% |
Step-Ups may occur only while either the Income Plus For Life® 1.11 or 5.09 Series Rider is
in effect. |
If you take Excess Withdrawals from your Contract, you risk lowering the Lifetime Income Amount guaranteed for
future withdrawals, or reducing the availability or amount
of future Step-Ups. |
If the Deceased
Owner is: |
Then
INCOME PLUS FOR LIFE® 1.11
and 5.09: | ||
1. |
Not the Covered Person |
- |
may continue if the Beneficiary elects to continue the Contract. We
automatically increase the Benefit Base to equal the initial death benefit
we determine, if the death benefit is greater than the
Benefit Base prior to our determination. We also recalculate
the Lifetime Income Amount to equal the Benefit Rate then in
effect multiplied by the recalculated Benefit Base and
assess the Rider fee based on the recalculated Benefit Base.
|
- |
enters its Settlement Phase if a subsequent withdrawal depletes the Contract
Value to zero, and the remaining Lifetime Income Amount for the year of
withdrawal is still greater than zero. | ||
- |
continues to be eligible for any remaining Credits and Step-Ups, but we
change the date we determine and apply these benefits to
future anniversaries of the date we determine the initial
death benefit. We permit the Beneficiary to opt out of any
increase in the Benefit Base (reflecting the initial death benefit or any future Step-Ups) if at the time of the increase we also increase the rate of the Rider fee. | ||
2. |
The Covered Person |
- |
ends without any further benefit. |
We apply Annual Credits on your Contract Anniversaries if you have taken no withdrawals during the preceding Contract
Year. For additional details on how we calculate the Annual Credit, please
see the Example above. |
The Ten Year Credit provides the equivalent of the first 10 Annual Credits, assuming you receive no Step-Ups, take no
withdrawals of Contract Value and make no Additional Purchase Payments during
the Ten Year Credit Period. We do not apply any Annual Credit
or Ten Year Credit to the extent it increases the Benefit Base to an amount in excess of $5 million. |
Step-Ups may occur only while the Income Plus For Life® 12.08 Series Rider is in
effect. |
If the Deceased
Owner is: |
Then
INCOME PLUS FOR LIFE® 12.08:
| ||
1. |
Not the Covered Person |
- |
may continue if the Beneficiary elects to continue the Contract within the time
we permit under our administrative rules. We automatically increase the
Benefit Base to equal the initial death benefit we
determine, if the death benefit is greater than the Benefit
Base prior to our determination. We also recalculate the
Lifetime Income Amount to equal 5% of the recalculated Benefit Base and
assess the Rider Fee based on the recalculated Benefit
Base. |
- |
enters its Settlement Phase if a subsequent withdrawal depletes the Contract
Value to zero, and the remaining Lifetime Income Amount for the year of
withdrawal is still greater than zero. | ||
- |
continues to be eligible for any remaining Credit amounts and Step-Ups,
and a Target Amount adjustment, but we change the date we
determine and apply these benefits to future anniversaries
of the date we determine the initial death benefit. We
permit the Beneficiary to opt out of an increase in the Benefit Base, if any, to reflect the initial death benefit and any future Step-Ups if we increase the rate of
the Income Plus For Life® 12.08 fee at that
time. | ||
2. |
The Covered Person |
- |
ends without any further benefit. |
We apply Annual Credits on your Contract Anniversaries if you have taken no withdrawals during the preceding Contract
Year. For additional details on how we calculate the Annual Credit, please
see the Example above. |
We do not apply any Annual Credit to the extent it would increase the Benefit Base to an amount in excess of $5 million. |
The Target Amount adjustment can provide higher lifetime income than you would otherwise achieve under this Rider. The
Target Amount adjustment provides its greatest benefit if you wait until the
Target Date to take your first withdrawal. If you take a
withdrawal prior to the Target Date, we will reduce the Target Amount and it will not be of as much value to you. If you continue to take withdrawals prior to the Target Date, we may reduce any remaining Target Amount to zero. |
Step-Ups may occur only while the Income Plus For Life® (Quarterly Step-Up Review)
Series Rider is in effect. |
We may reduce the Benefit Base and Lifetime Income Amount values if you take Excess Withdrawals. Excess Withdrawals
may reduce or eliminate future Lifetime Income Amount values. We reduce your
Contract Value and your death benefit each time you take a
withdrawal. |
If the Deceased
Owner is: |
Then
INCOME PLUS FOR LIFE® (Quarterly
Step-Up Review): | ||
1. |
Not the Covered Person |
- |
may continue if the Beneficiary elects to continue the Contract within the time
we permit under our administrative rules. We automatically increase the
Benefit Base to equal the initial death benefit we
determine, if the death benefit is greater than the Benefit
Base prior to our determination. We also recalculate the
Lifetime Income Amount to equal 5% of the recalculated Benefit Base and
assess the Rider fee based on the recalculated Benefit
Base. |
- |
enters its Settlement Phase if a subsequent withdrawal depletes the Contract
Value to zero, and the remaining Lifetime Income Amount for the year of
withdrawal is still greater than zero. | ||
- |
continues to be eligible for any remaining Credit amounts and Step-Ups,
and a Target Amount adjustment, but we change the date we
determine and apply these benefits to future anniversaries
of the date we determine the initial death benefit. We
permit the Beneficiary to opt out of an increase in the Benefit Base, if any, to reflect the initial death benefit and any future Step-Ups if we increase the rate of
the Income Plus For Life® (Quarterly Step-Up Review) fee
at that time. | ||
2. |
The Covered Person |
- |
ends without any further benefit. |
The Ten Year Credit can provide higher lifetime income than you would otherwise receive under this Rider, as long as you
wait until the end of the Target Date to take your first
withdrawal. |
Step-Ups may occur only while the Income Plus For Life® (Annual Step-Up Review) Series
Rider is in effect. |
We reduce your Contract Value each time you take a withdrawal. We may reduce the Benefit Base and Lifetime Income
Amount values if you take Excess Withdrawals. Excess Withdrawals may reduce
or eliminate future Lifetime Income Amount values.
|
If you take withdrawals prior to the Lifetime Income Date, we reduce the Benefit Base we use to determine the guaranteed
Lifetime Income Amount on the Lifetime Income Date. You could eventually lose
any benefit based on the Lifetime Income Amount if you take
withdrawals in excess of an amount equal to the Benefit Rate multiplied by the Benefit Base. If
Contract Value declines to zero during a Contract Year in
which you have an Excess Withdrawal, you will lose the guaranteed minimum withdrawal benefit under the Income Plus For Life® (Annual Step-Up Review) Rider. (See “Settlement
Phase” in this section, below.) |
If the Deceased
Owner is: |
Then
INCOME PLUS FOR LIFE® (ANNUAL
STEP-UP REVIEW): | ||
1. |
Not the Covered Person and
the Beneficiary is the
deceased Owner’s Spouse |
- |
may continue if the Beneficiary elects to continue the Contract within the time
we permit under our administrative rules. We automatically increase the
Benefit Base to equal the initial death benefit we
determine, if the death benefit is greater than the Benefit
Base prior to our determination. We also recalculate the
Lifetime Income Amount to equal 5% of the recalculated Benefit Base and
assess the Rider fee based on the recalculated Benefit
Base. |
- |
enters its Settlement Phase if a subsequent withdrawal depletes the Contract
Value to zero, and the remaining Lifetime Income Amount for the year of
withdrawal is still greater than zero. | ||
- |
continues to be eligible for any remaining Credits and Step-Ups, and a
Target Amount adjustment, but we change the date we
determine and apply these benefits to future anniversaries
of the date we determine the initial death benefit. We
permit the Spouse to opt out of an increase in the Benefit
Base, if any, to reflect the initial death benefit and any future Step-Ups
if we increase the rate of the Income Plus For Life® (Annual Step-Up Review) fee at
that time. | ||
2. |
Not the Covered Person and
the Beneficiary is not the
deceased Owner’s Spouse |
- |
may continue in the same manner as 1. |
- |
enters its Settlement Phase if a subsequent withdrawal would deplete the
Contract Value to zero, and the remaining Lifetime Income Amount for the
year of withdrawal is still greater than zero.
| ||
- |
does not continue to be eligible for any Credits and
Step-Ups, or a Target Amount adjustment. We will permit the
Beneficiary to opt out of an increase in the Benefit Base,
if any, to reflect the initial death benefit if we increase the rate of the Income Plus For
Life® (Annual
Step-Up Review) fee at that time. | ||
3. |
The Covered Person and the
Beneficiary is the deceased
Owner’s Spouse |
- |
ends without any further benefit. |
4. |
The Covered Person and the
Beneficiary is not the
deceased Owner’s Spouse |
- |
ends without any further benefit. |
Step-Ups may occur only while the Principal Plus or Principal Plus for Life Series Rider is in effect. |
We reduce your Contract Value each time you take a withdrawal. We may reduce the Benefit Base and Lifetime Income
Amount values if you take Excess Withdrawals. Excess Withdrawals may reduce
or eliminate future Lifetime Income Amount values.
|
If your annual withdrawals exceed the Guaranteed Withdrawal Amount, we recalculate amounts we guarantee for future
withdrawals. We may recalculate and reduce the Benefit Base, Guaranteed
Withdrawal Amount and, Lifetime Income Amount (under Principal Plus for Life Series Riders) values to
reflect reductions that exceed the amount of your withdrawals.
A recalculation and reduction also may reduce the total amount guaranteed below the total of your Purchase Payments and may reduce or eliminate future Guaranteed Withdrawal Amount and (under Principal Plus for Life Series Riders) Lifetime Income Amount values. Withdrawals
in excess of the Lifetime Income Amount may reduce or eliminate
future Lifetime Income Amount values. |
We will not make any further withdrawals under our Life Expectancy Distribution Program if both the Contract Value and
the Benefit Base are depleted to zero. Under a Principal Plus for Life Series
Rider, however, we will make further distributions as part of
the Settlement Phase if the Lifetime Income Amount is greater than zero and the Covered Person is living at that time. |
If the Beneficiary is: |
Then
PRINCIPAL PLUS: | ||
1. |
The deceased Owner’s
Spouse |
- |
Continues if the Benefit Base is greater than zero. |
- |
Within 30 days following the date we determine the death benefit under the
Contract, provides the Beneficiary with an option to elect to step up the
Benefit Base if the death benefit on the date of
determination is greater than the Benefit Base.
| ||
- |
Enters the Settlement Phase if a withdrawal would deplete the Contract Value to
zero, and the Benefit Base is still greater than zero. (Death benefit
distributions are treated as withdrawals. Some methods of
death benefit distribution may result in distribution
amounts in excess of both the Guaranteed Withdrawal Amount
and the Life Expectancy Distributions. In such cases, the Benefit Base may be automatically Reset, thereby possibly reducing the guaranteed minimum
withdrawal benefit provided under this Rider). |
||
- |
Continues to impose the Principal Plus fee. | ||
- |
Continues to be eligible for any remaining Credits and Step-Ups, but we
change the date we determine and apply these benefits to
future anniversaries of the date we determine the initial
death benefit. Remaining eligible Step-Up Dates will also be
measured beginning from the death benefit determination date but the latest Step-Up Date will be no later than the 30th Contract Anniversary. | ||
2. |
Not the deceased Owner’s
Spouse |
- |
Continues in the same manner as above, except that Principal Plus does not
continue to be eligible for any remaining Credits and Step-Ups, other than
the initial Step-Up of the Benefit Base to equal the death
benefit, if greater than the Benefit Base prior to the death
benefit. |
If the Deceased
Owner is: |
Then
PRINCIPAL PLUS FOR LIFE OR PRINCIPAL PLUS FOR LIFE PLUS
AUTOMATIC ANNUAL STEP-UP:
| ||
1. |
The Covered Person and the
Beneficiary is the deceased
Owner’s Spouse |
- |
Does not continue with respect to the Lifetime Income Amount, but continues
with respect to the Guaranteed Withdrawal Amount if the death benefit or
the Benefit Base is greater than zero. We automatically step
up the Benefit Base to equal the initial death benefit we
determine, if greater than the Benefit Base prior to the
death benefit. |
- |
Enters the Settlement Phase if a withdrawal would deplete the Contract Value to
zero, and the Benefit Base is still greater than zero. | ||
- |
Continues to impose the Principal Plus for Life fee. | ||
- |
Continues to be eligible for any remaining Credits and Step-Ups, but we change
the date we determine and apply these benefits to future anniversaries of
the date we determine the initial death benefit. We permit
the Spouse to opt out of the initial death benefit Step-Up,
if any, and any future Step-Ups if we increase the rate of
the Rider fee at that time. |
If the Deceased
Owner is: |
Then
PRINCIPAL PLUS FOR LIFE OR PRINCIPAL PLUS FOR LIFE PLUS
AUTOMATIC ANNUAL STEP-UP:
| ||
2. |
The Covered Person and the
Beneficiary is not the
deceased Owner’s Spouse |
- |
Continues in the same manner as 1, except that Principal Plus for Life
does not continue to be eligible for any remaining Credits
and Step-Ups, other than the initial Step-Up of the Benefit
Base to equal the death benefit, if greater than the Benefit
Base prior to the death benefit. We permit the Beneficiary to opt out of the initial death benefit Step-Up, if any, if we increase the rate of the Rider fee at
that time. |
3. |
Not the Covered Person and
the Beneficiary is the
deceased Owner’s Spouse |
- |
Continues in the same manner as 1, except that the Rider continues with
respect to the Lifetime Income Amount for the Beneficiary.
If the Lifetime Income Amount has not been determined prior
to the payment of any portion of the death benefit, we
determine the initial Lifetime Income Amount on an
anniversary of the date we determine the death benefit after the Covered
Person has reached his or her Lifetime Income
Date. |
4. |
Not the Covered Person and
the Beneficiary is not the
deceased Owner’s Spouse |
- |
Continues in the same manner as 1, except that the Rider continues with respect
to the Lifetime Income Amount for the Beneficiary. If the Lifetime Income
Amount has not been determined prior to the payment of any
portion of the death benefit, we determine the initial
Lifetime Income Amount on an anniversary of the date we
determine the death benefit after the Covered Person has
reached his or her Lifetime Income Date. |
- |
In this case, does not continue to be eligible for any remaining Credits and Step-
Ups, other than the initial Step-Up of the Benefit Base to equal the death
benefit, if greater than the Benefit Base prior to the death
benefit. We permit the Beneficiary to opt out of the initial
death benefit Step-Up, if any, if we increase the rate of
the Rider fee at that time. |
We may limit the ability of the surviving Covered Person to choose a settlement payment amount and duration that differs
from the amount and duration in effect before the death of the first Covered
Person. |
You are not eligible for an Accumulation Benefit if you take a withdrawal of Contract Value, including any required
minimum distribution from a Qualified Contract or any withdrawal of death
benefit proceeds, during the first 10 Contract
Years. |
We reduce your Contract Value each time you take a withdrawal. We may reduce the Benefit Base and Guaranteed
Withdrawal Amount values if you take Excess Withdrawals. Excess Withdrawals
may reduce or eliminate future Guaranteed Withdrawal Amount
values. |
If your annual withdrawals exceed the Guaranteed Withdrawal Amount, we recalculate amounts we guarantee for future
withdrawals. We may recalculate and reduce the Benefit Base and Guaranteed
Withdrawal Amount by amounts that exceed the amount of your
withdrawals. A recalculation also may reduce the total amount guaranteed to an amount less than the total of your Purchase Payments and may reduce or eliminate future Guaranteed Withdrawal Amount values. |
If you begin taking Life Expectancy Distributions during the first 10 Contract Years, you no longer qualify for the Rider’s
Accumulation Benefit at your 10th Contract Anniversary. |
Guaranteed Retirement Income Program Rider |
Annual Fee |
Guaranteed Retirement Income Program I |
0.25% |
Guaranteed Retirement Income Program II |
0.45% |
Guaranteed Retirement Income Program III |
0.50% |
Guaranteed Retirement Income Program Rider |
Annual Fee |
Guaranteed Retirement Income Program I |
0.30% |
Guaranteed Retirement Income Program II |
0.45% |
In order to comply with applicable federal income tax laws, in some circumstances, we will shorten the guarantee period
under an Annuity Option so that it does not exceed the life expectancy of the
Annuitant, or the joint life expectancies of the co-Annuitants,
depending on the Annuity Option chosen. Once the guarantee period is shortened upon exercise of a Guaranteed Retirement Income Program, it will not be further reduced. The guarantee period will never be increased based
on the life expectancy of the Annuitant or at any other time or due to any
other event. |
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) |
JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK | ||
John Hancock Annuities Service Center |
John Hancock Annuities Service Center | ||
Mailing Address |
Overnight Mail Address |
Mailing Address |
Overnight Mail Address |
PO Box 55444 Boston, MA
02205-5444 www.johnhancock.com/annuities |
372 University Ave – Suite 55444 Westwood, MA 02090
1-800-344-1029 |
PO Box 55445
Boston, MA 02205-5445
www.johnhancock.com/annuities |
372 University Ave – Suite 55445 Westwood, MA 02090
1-800-344-1029 |
|
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FEES AND EXPENSES | |||
Charges for Early
Withdrawals (or surrender
charges, if applicable) |
There are withdrawal charges that you pay at the time you withdraw
Contract Values or surrender the Contract on a first-in,
first-out basis, measured from the date of each Purchase
Payment. For
John Hancock USA Contracts: The maximum withdrawal charge is 6% of the Purchase Payment in the first year, reducing to
2% in the seventh year and 0% thereafter. For example, assuming a $100,000
investment, the highest possible surrender charge would be
$6,000. For John Hancock New York Contracts: For Contracts without the Payment Enhancement Rider, the maximum
withdrawal charge is 6% of the Purchase Payment in the first
year, reducing to 2% in the seventh year and 0% thereafter.
For example, assuming a $100,000 investment, the highest possible surrender charge would be $6,000. For Contracts with the Payment Enhancement Rider, the maximum withdrawal
charge is 8% of the Purchase Payment in the first year,
reducing to 1% in the eighth year and 0% thereafter. For
example, assuming a $100,000 investment, the highest possible surrender charge would be $8,000. For more information on charges for early withdrawals, please refer to
“IV. Fee Tables – Transaction Expenses”. | ||
Transaction Charges |
In addition to surrender charges (if applicable), you may also be charged
for the following transactions: State premium taxes, which
currently range from 0.04% to 4.00% of each Purchase Payment
(see “VIII. Charges and Deductions – Premium
Taxes”), may also apply to your Contract. We reserve the right to impose a charge in the future for transfers in
excess of 12 per year. The amount of this fee will not
exceed the lesser of $25 or 2% of the amount transferred. For more information on transaction charges and transfer fees, please refer to “IV. Fee Tables –Transaction Expenses” and “VIII. Charges and Deductions – Premium
Taxes”. |
Ongoing Fees and
Expenses (annual charges) |
The table below describes the fees and expenses that you may pay each
year, depending on the options you choose. Please refer to
your Contract specifications page for information about the
specific fees you will pay each year based on the options you have elected. John Hancock USA Contracts: | ||
Annual Fee |
Minimum |
Maximum | |
Base Contract1 |
1.40% |
1.40% | |
Investment options (Portfolio Company fees
and expenses)2 |
0.25% |
1.41% | |
Optional benefits available for an additional
Charge (for a single optional benefit, if
elected) |
0.20%1 |
0.50%3 | |
John Hancock New York Contracts: | |||
Annual Fee |
Minimum |
Maximum | |
Base Contract1 |
1.40% |
1.40% | |
Investment options (Portfolio Company fees
and expenses)2 |
0.25% |
1.41% | |
Optional benefits available for an additional
Charge (for a single optional benefit, if
elected) |
0.30%3 |
0.45%4 | |
1 Charge based on average daily assets allocated to the Subaccounts. | |||
2 Charge based as a percentage of the Portfolio’s average net assets. | |||
3Charge based on Adjusted Guaranteed Withdrawal Balance. | |||
4 Charge based on GRIP Income Base. | |||
Because your Contract is customizable, the choices you make affect how
much you will pay. To help you understand the cost of owning
your Contract, the following table shows the lowest and
highest cost you could pay each year, based on current charges. This estimate assumes that you do not take withdrawals from the Contract, which could add charges for early withdrawals or surrender charges that substantially increase costs. |
|
John Hancock USA Contracts: |
||
|
Lowest Annual Cost
$1,488.15 |
Highest Annual Cost
$2,818.84 | |
Assumes: •Investment of $100,000 •5% annual appreciation •Least expensive combination of Contract Classes and Portfolio Company fees and expenses •No optional benefits •No sales charges •No additional purchase payments, transfers or withdrawals |
Assumes: •Investment of $100,000 •5% annual appreciation •Most expensive combination of Contract Classes, optional benefits and Portfolio Company fees and expenses •No sales charges •No additional purchase payments, transfers or withdrawals | ||
John Hancock NY Contracts: |
|||
Lowest Annual Cost
$1,488.15 |
Highest Annual Cost
$2,934.19 | ||
Assumes: •Investment of $100,000 •5% annual appreciation •Least expensive combination of Contract Classes and Portfolio Company fees and expenses •No optional benefits •No sales charges •No additional purchase payments, transfers or withdrawals |
Assumes: •Investment of $100,000 •5% annual appreciation •Most expensive combination of Contract Classes, optional benefits and Portfolio Company fees and expenses •No sales charges •No additional purchase payments, transfers or withdrawals | ||
For more information on ongoing fees and expenses, please refer to “IV. Fee Tables – Periodic Fees and Expenses Other Than Portfolio Expenses.”
| |||
RISKS | |||
Risk of Loss |
You can lose money by investing in this Contract. You bear the investment
risk of any Portfolio you choose as a Variable Investment
Option for your Contract. For more information on risk of loss, please refer to “V.
Principal Risks of Investing in the Contract.” | ||
Not a Short-Term
Investment |
This Contract is not a short-term investment and is not appropriate for an
investor who needs ready access to cash. The Contract is
unsuitable as a short-term savings vehicle because of the
substantial Contract-level charges, including the surrender charge, as
well as potential adverse tax consequences from such
short-term use. For more information on the short-term investment risks, please refer to “V. Principal Risks of Investing in the Contract.” | ||
Risks Associated with
Investment Options |
An investment in this Contract is subject to the risk of poor performance
and can vary depending on the performance of the Investment
Options available under the Contract (e.g., Portfolio
Companies). Each such option (including any fixed account investment option) will have its own unique risks, and you should review these Investment Options before making an
investment decision. For more information on
the risks associated with Investment Options, please refer to “V.
Principal Risks of Investing in the Contract.” |
Insurance Company Risks |
Your investment in the Contract is subject to risks related to John
Hancock USA or John Hancock New York, including that the
obligations (including under the fixed account investment
option), guarantees, or benefits are subject to the claims-paying ability of John Hancock USA or John Hancock New York. Information about John Hancock USA and John
Hancock New York, including their financial strength ratings, are
available upon request from your John Hancock
representative. Our current financial strength ratings can also be obtained by contacting the Service Office at 1-800-344-1029. For more information on insurance company risks, please refer to “V. Principal Risks of Investing in the Contract.” | ||
Cybersecurity Risks |
Our business and operations are highly dependent upon the effective
operation of our computer systems and those of our
third-party business partners. As a result, there are
potential operational and information security risks associated with
attack, damage, or unauthorized access to the technologies
and systems on which our business depends. These risks
include, among other things, the unauthorized access, theft, loss, misuse, corruption, and destruction of data maintained online or digitally, denial of service on websites and other
operational disruption, and unauthorized release of confidential customer
information. Cyber- attacks affecting us, any third-party
administrator, the underlying portfolios, intermediaries,
and other affiliated or third-party service providers may adversely affect
us and your Contract Value. For instance, cyber-attacks may
interfere with the processing of actions taken on your
Contract, including the processing of transactions and orders from our
website or with the underlying portfolios, impact our
ability to calculate unit values or an underlying portfolio to
calculate a net asset value, or cause the release and possible destruction
of confidential customer or business information.
Cybersecurity risks may also impact the issuers of
securities in which the underlying portfolios invest, which may cause the
portfolios underlying your policy to lose value. While
measures have been implemented that are designed to reduce
cybersecurity risks, there can be no guarantee or assurance that we, the underlying portfolios, or our service providers will not suffer losses affecting your Contract
due to cyber-attacks or information security breaches in the
future. | ||
RESTRICTIONS | |||
Investments |
There are restrictions that may limit the variable Investment Options and
general account option that you may choose, as well as
limitations on the transfer of Contract Value among those
options. These restrictions may include a monthly limit on the number of transfers you may make. We
may also impose additional restrictions to discourage market timing and
disruptive trading activity. Among other things, the
Contract allows us to eliminate the shares of a Portfolio or substitute shares of another new or existing Portfolio, subject to applicable legal requirements. For more information on investment and transfer restrictions, please refer
to “VII. Description of the Contract.” | ||
Optional Benefits |
There are restrictions and limitations relating to optional benefits and
an optional benefit may be modified or terminated by
us. Withdrawals that exceed limits specified by the terms of an optional
benefit may affect the availability of the benefit by
reducing the benefit by an amount greater than the value
withdrawn, and/or could terminate the benefit. For more information on
optional benefit restrictions, please refer to Appendix B: “Optional
Enhanced Death Benefits” and Appendix C: “Optional Guaranteed Minimum Withdrawal
Benefits. |
TAXES | |||
Tax Implications |
You should consult with a tax professional to determine the tax
implications of an investment in and Purchase Payments
received under the Contract. There is no additional tax benefit to you if the Contract was purchased through a tax-qualified plan or an individual retirement
account (IRA). If we pay out any amount of your Contract Value upon
surrender or partial withdrawal, all or part of that
distribution would generally be treated as a return of the
Purchase Payments paid, with any portion not treated as a return of your
Purchase Payments subject to ordinary income tax, and may be
subject to tax penalties. For more information on tax implications, please refer to “IX.
Federal Tax Matters.” | ||
CONFLICTS OF INTEREST | |||
Investment Professional
Compensation |
Some investment professionals may have received compensation for selling
the Contract by means of various commissions and revenue
sharing arrangements. The investment professional may have
had a financial incentive to offer or recommend this Contract over another investment. For more information on investment professional compensation, please refer
to “VI. General Information about Us, the Separate Accounts and the
Portfolios.” | ||
Exchanges |
Some investment professionals may have a financial incentive to offer you
a new Contract in place of the one you already own, and you
should only exchange your Contract if you determine, after
comparing the features, fees, and risks of both contracts, that it is preferable for you to purchase the new contract rather than continue to own the existing Contract. For more information on exchanges, please refer to “IX. Federal Tax Matters.” |
If you elected to purchase any one of these guaranteed minimum withdrawal benefit Riders, you may invest your Contract
Value only in the Investment Options we make available for these benefits
(see Appendix C: “Optional Guaranteed Minimum Withdrawal
Benefits”). We also reserve the right to impose additional restrictions on Investment Options at any time. |
|
John Hancock
USA Contracts |
John Hancock
New York Contracts
with Payment
Enhancement Rider |
John Hancock
New York Contracts
without Payment
Enhancement Rider |
Withdrawal Charge (as a percentage of Purchase Payments)1 |
6%2 |
8%3 |
6%2 |
Transfer Fee4 |
$25 |
$25 |
$25 |
|
John Hancock USA |
John Hancock New York |
Administrative Expenses1 |
$30 |
$30 |
|
|
|
Base Contract Expenses
(as a percentage of Separate Account value) |
1.40% |
1.40% |
Optional Benefit Expenses |
|
|
Optional Enhanced Earnings Death Benefit Fee (as a percentage of the
Variable Investment Options) |
0.20% |
not offered |
Accelerated Beneficiary Protection Death Benefit2(as a percentage of the
Contract Value) |
0.50% |
not offered |
Optional Annual Step-Up Death Benefit Fee3 |
0.20% |
0.20% |
Optional Payment Enhancement Fee4(as a percentage of the Variable
Investment Options) |
not offered |
0.35% |
|
|
|
Guaranteed Retirement Income Benefit II5 (as a percentage of the Contract
Value) |
0.45% |
0.45% |
Guaranteed Retirement Income Benefit III5(as a percentage of the Contract
Value) |
0.50% |
not offered |
Rider |
Issued In |
Maximum Fee |
Current Fee |
Income Plus For Life ® (Annual Step-Up Review)1 |
All states |
1.20% |
0.60% |
Income Plus For Life –Joint Life ® Plus (Annual Step-Up
Review)1 |
All states except New York |
1.20% |
0.60% |
Income Plus For Life ® (Quarterly Step-Up Review)1 |
All states except New York |
1.20% |
0.75% |
Income Plus For Life ® (Quarterly Step-Up Review)1 |
New York |
1.20% |
0.70% |
Income Plus For Life – Joint Life® (Quarterly Step-Up Review)1 |
All states except New York |
1.20% |
0.75% |
Income Plus For Life – Joint Life ® (Quarterly Step-Up
Review))1 |
New York |
1.20% |
0.70% |
Income Plus For Life®12.081 |
All states except New York |
1.20% |
0.85% |
Income Plus For Life®12.081 |
New York |
1.20% |
0.80% |
Income Plus For Life - Joint Life®12.081 |
All states except New York |
1.20% |
0.85% |
Income Plus For Life - Joint Life®12.081 |
New York |
1.20% |
0.80% |
Rider |
Issued In |
Maximum Fee |
Current Fee |
Principal Plus For Life Plus Automatic Annual Step-Up1 |
All states |
1.20% |
0.70% |
Principal Plus for Life |
All states |
0.75% |
0.40% |
Principal Plus |
All states |
0.75% |
0.30% |
Principal Returns |
All states |
0.95% |
0.50% |
Annual Portfolio Company Expenses |
Minimum |
Maximum |
(expenses that are deducted from Portfolio Company assets, including
management fees, distribution and/or service (Rule 12b-1)
fees, and other expenses) |
0.39% |
1.42% |
John Hancock USA
Enhanced Earnings Death Benefit and Income Plus For
Life® | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
If you surrender the Contract at the end of the applicable time
period: |
$9,791 |
$17,789 |
$26,147 |
$47,125 |
If you annuitize, or do not surrender the Contract at the end of the
applicable time period: |
$4,273 |
$13,270 |
$22,379 |
$47,125 |
John Hancock USA and John Hancock New York
No Optional Benefit Riders | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
If you surrender the Contract at the end of the applicable time
period: |
$7,437 |
$10,701 |
$13,834 |
$21,294 |
John Hancock USA and John Hancock New York
No Optional Benefit Riders | ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
If you annuitize, or do not surrender the Contract at the end of the
applicable time period: |
$1,848 |
$5,719 |
$9,834 |
$21,294 |
Name of
Benefit |
Purpose |
Is Benefit
Standard
or Optional? |
Maximum
Fee |
Brief
Description of
Restrictions/Limitations |
Dollar Cost
Averaging
(“DCA”) |
Under the DCA program, you
designate an amount that is
transferred monthly from one
variable or fixed investment account
into any other variable investment
account. |
Standard |
No charge |
•DCA Fixed Investment Options may not always be available. You may elect out of the DCA program at any time. •Offered in all states. |
Asset
Rebalancing
Program |
Under the asset allocation
rebalancing program, you designate
a percentage allocation of Contract
Value among variable investment
accounts. We automatically transfer
amounts among the variable
investment accounts at intervals you
select (annually, semi- annually,
quarterly, or monthly) to reestablish
your chosen allocation. |
Standard |
No charge |
•We reserve the right to cease this program after written notice to you. •Offered in all states. |
The Income Plan |
The Income Plan (“IP”) permits you
to pre-authorize a periodic exercise
of the Contract’s withdrawal rights
by instructing us to withdraw a level
dollar amount from specified
Investment Options on a periodic
basis. |
Optional |
No charge |
•Income Plan withdrawals may be limited and may incur withdrawal charges •We reserve the right to suspend
your ability to make Additional
Purchase Payments while you are
enrolled in an IP. IP withdrawals,
like other withdrawals, may be
subject to income tax and a 10%
penalty tax. •Offered in all states. |
Death Benefit |
If the Owner dies before the Annuity
Commencement Date, the Death
Benefit will be the greater of the
Contract Value or the Minimum
Death Benefit, less any Debt. If the Annuitant dies
during the Pay- out Period after an Annuity Option
has been selected, and, we make the
remaining guaranteed payments to
the Beneficiary. |
Standard |
No charge |
•Available during Accumulation Period. •Death benefit is net of any
outstanding loan balance. •We do not make any payments to a Beneficiary if the last surviving Covered Person dies while we are making payments under an Annuity Option providing only for payments for life, or payments during the Settlement Phase under an optional GMWB Rider. |
Waiver of
Applicable
Withdrawal
Charge –
Confinement to
Eligible Nursing
Home |
Any applicable withdrawal charge
will be waived on a total withdrawal
prior to the Maturity Date if
confined to an Eligible Nursing
Home. |
Optional |
No charge |
•For Contracts issued on or after
May 1, 2002. •Not offered in MA and NY. |
Name of
Benefit |
Purpose |
Is Benefit
Standard
or Optional? |
Maximum
Fee |
Brief
Description of
Restrictions/Limitations |
Income Made
Easy Program |
Provides payment of an income for
the lifetime of the Covered Person. |
Optional |
No charge |
•Requires a GMWB Rider with a Contract. •Offered in all states. |
Enhanced
Earnings Death
Benefit |
Provides a payment equal to 40% of
the appreciation in the Contract
Value (i.e., the Contract Value less
the sum of all Purchase Payments,
reduced proportionally by any
amount deducted in connection with
withdrawals) upon the death of any
Contract Owner if the oldest Owner
is 69 or younger at issue, and 25% if
the oldest Owner is 70 or older at
issue. |
Optional |
0.20% (of the
value of the
Variable
Investment
Options) |
•Only available at issue. •Not offered in NY and WA. |
Annual Step-Up
Death Benefit |
Guarantees a minimum death benefit
up to the Maturity Date based on the
Contract’s highest “Anniversary
Value” that may be achieved before
you (or any joint Owner) reach 81
years old. |
Optional |
0.20% (of the
value of the
Variable
Investment
Options) |
•The Annual Step-Up Death Benefit was available only with Principle Plus for Life Riders and only if you (and every joint Owner) were under age 80 when we issued the Contract. •The Rider cannot be revoked once elected. |
Accelerated
Beneficiary
Protection Death
Benefit |
Provides a death benefit upon the
death of any Owner prior to the
Maturity Date, equal to the
“Enhanced Earnings Death Benefit”
factor plus the greatest of: the
Contract Value; the Return of
Purchase Payments Death Benefit
Factor; the Annual Step-Up Death
Benefit Factor; or the Graded Death
Benefit Factor (defined in Appendix
B of the Prospectus). |
Optional |
0.50% (of the
Benefit
payable had
death occurred
on each
Contract
Anniversary) |
•Only available at issue. •The Owner may only be changed to an individual that is the same age or younger than the oldest current Owner. •We reserve the right to restrict Investment Options available with this Rider at any time. •Not offered in NY and WA. |
Guaranteed
Minimum
Withdrawal
Benefit
(“GMWB”)
Riders |
Lifetime Income Amount type of
benefit provides a guarantee of a
minimum amount available for
annual withdrawals for the duration
of a single lifetime, or for the
duration of two (“joint”) lifetimes.
Guaranteed Withdrawal Amount
type of benefit provides a guarantee
of a minimum amount available for
annual withdrawals that will last for
a period of time measured by a
Benefit Base. The Rider may
provide either or both types of
benefits. The GMWB Riders we have
offered are: |
Optional |
|
•Only available at issue. •The GMWB Rider fees are listed in APPENDIX C and are deducted on each Contract Anniversary. •We reserve the right to increase the fee on the effective date of each Step-Up. •The Investment Options available under GMWB Riders are restricted. |
Name of
Benefit |
Purpose |
Is Benefit
Standard
or Optional? |
Maximum
Fee |
Brief
Description of
Restrictions/Limitations |
|
•Income Plus For Life® (Annual Step-Up Review) |
|
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states. |
|
•Income Plus For Life –Joint Life® Plus (Annual Step-Up Review) |
|
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states except NY. |
|
•Income Plus For Life® (Quarterly Step-Up Review) |
|
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states. |
|
•Income Plus For Life – Joint Life® (Quarterly Step-Up Review)) |
|
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states. |
|
•Income Plus For Life® 12.08; |
|
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states. |
|
•Income Plus For Life – Joint Life ®12.08 |
|
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states. |
|
•Income Plus For Life – Joint Life® (Annual Step-Up Review); |
|
1.20% (of the
Adjusted
Benefit Base) |
Offered in all states except NY. |
|
•Principal Plus For Life Plus Automatic Annual Step-Up |
|
1.20% (of the
Adjusted
Guaranteed
Withdrawal
Balance) |
Offered only in NY. |
|
•Principal Plus for Life (formerly known as “Guaranteed Principal Plus for Life”) |
|
0.75% (of the
Adjusted
Guaranteed
Withdrawal
Balance) |
Offered in all states. |
|
•Principal Plus (formerly known as “Guaranteed Principal Plus”) |
|
0.75% (of the
Adjusted
Guaranteed
Withdrawal
Balance) |
Offered in all states. |
|
•Principal Returns |
|
0.95% (of the
Adjusted
Guaranteed
Withdrawal
Balance) |
Offered in all states. |
Name of
Benefit |
Purpose |
Is Benefit
Standard
or Optional? |
Maximum
Fee |
Brief
Description of
Restrictions/Limitations |
Guaranteed
Minimum
Income Benefit
(“GMIB”) Riders |
Guarantees a minimum lifetime
fixed income benefit in the form of
fixed monthly annuity payments. The GMIB Riders we
have offered are: |
Optional |
|
Only available at issue. |
•Guaranteed Retirement Income Benefit II |
0.45% (of the
Income Base
in effect on
each Contract
Anniversary) |
Offered in all states. | ||
•Guaranteed Retirement Income Benefit III |
0.50% (of the
Income Base
in effect on
each Contract
Anniversary) |
Offered in all states except NY. | ||
Payment
Enhancement |
Credits a Payment Enhancement
equal to 4% (5% for Contracts
issued between July 12 and October
30, 2004) of the Purchase Payment
and allocates it among Investment
Options in the same proportions as
your Purchase Payments. |
Optional |
0.35% (of the
Variable
Investment
Options) |
•Subject to a higher withdrawal
charge and for a longer period of
time. Could only be elected at
Contract issue, and cannot be
revoked once elected. •The initial Purchase Payment must have been at least $10,000 to elect the Purchase Enhancement Rider. •Offered only in NY. |
Please review your Contract carefully to determine the Maturity Date applicable to your Contract. |
Once annuity payments begin under an Annuity Option, you cannot make any additional withdrawals under a Contract with
a GMWB Rider. |
|
John Hancock USA |
John Hancock New York
(without Payment
Enhancement Rider) |
John Hancock New York
(with Payment
Enhancement Rider) |
First Year |
6% |
6% |
8% |
Second Year |
6% |
6% |
8% |
Third Year |
5% |
5% |
7% |
Fourth Year |
5% |
5% |
7% |
Fifth Year |
4% |
4% |
5% |
Sixth Year |
3% |
3% |
4% |
Seventh Year |
2% |
2% |
3% |
Eighth Year |
0% |
0% |
1% |
Thereafter |
0% |
0% |
0% |
State or Territory |
Premium Tax Rate1 | |
Qualified Contracts |
Nonqualified Contracts | |
CA |
0.50% |
2.35% |
CO |
0.00% |
2.00% |
GUAM |
4.00% |
4.00% |
ME2 |
0.00% |
2.00% |
NV |
0.00% |
3.50% |
PR |
1.00% |
1.00% |
SD2 |
0.00% |
1.25%3 |
TX4 |
0.04% |
0.04% |
WY |
0.00% |
1.00% |
You must pay tax on any portion of a conversion or rollover amount that would have been taxed if you had not converted or
rolled over to a Roth IRA. If you convert a Contract issued as a traditional
IRA to a Roth IRA, the amount deemed to be the conversion
amount for tax purposes may be higher than the Contract Value because of the deemed value of guarantees. If you convert a Contract issued as a traditional IRA to a Roth IRA, you may instruct us not to withhold any of the conversion
amount for taxes and remittance to the IRS. If you do instruct us to withhold
for taxes when converting a Contract issued as a traditional
IRA to a Roth IRA, we will treat any amount we withhold as a withdrawal from your Contract, which could result in an Excess Withdrawal and a reduction in the benefit value of any elected optional guarantee Rider, in a proportion
determined by the Rider. Please read Appendix C: “Optional Guaranteed
Minimum Withdrawal Benefits” for more information about
the impact of withdrawals. |
Other Qualified Plan Type |
|
SIMPLE IRA Plans |
In general, under Section 408(p) of the Code a small business employer may
establish a SIMPLE IRA plan if the employer employed no more
than 100 employees. In general, an employee must be covered
by the SIMPLE IRA, if the employee is expected to earn at
least $5,000 during the current calendar year and had $5,000
of earnings during any two years preceding the current calendar year. Under a SIMPLE IRA plan both employees and the employer make deductible contributions.
SIMPLE IRAs are subject to various requirements, including limits on the
amounts that may be contributed, the persons who may be
eligible, and the time when distributions may commence. The
requirements for minimum distributions from a SIMPLE IRA
plan are generally the same as those discussed above for distributions from a traditional IRA. The rules on taxation of distributions are also similar to those
that apply to a traditional IRA with a few exceptions. |
Simplified Employee Pensions
(SEP-IRAs) |
Section 408(k) of the Code allows employers to establish simplified employee
pension plans for their employees, using the employees’ IRAs for
such purposes, if certain criteria are met. Under these
plans the employer may, within specified limits, make
deductible contributions on behalf of the employees to IRAs. The requirements for minimum distributions from a SEP-IRA, and rules on taxation of distributions
from a SEP-IRA, are generally the same as those discussed above for
distributions from a traditional IRA. |
Other Qualified Plan Type |
|
Section 403(b) Plans or Tax-
Sheltered Annuities |
Section 403(b) of the Code permits public school employees and employees
of certain types of tax-exempt organizations to have their
employers purchase annuity contracts for them and, subject
to certain limitations, to exclude the Purchase Payments
from gross income for tax purposes. There also are limits on the amount of incidental benefits that may be provided under a tax-sheltered annuity. These
Contracts are commonly referred to as “tax-sheltered
annuities.” |
Corporate and Self- Employed
Pension and Profit-Sharing Plans
(H.R. 10 and Keogh) |
Sections 401(a) and 403(a) of the Code permit corporate employers to
establish various types of tax-deferred retirement plans for
employees. The Self-Employed Individuals’ Tax
Retirement Act of 1962, as amended, commonly referred to as “H.R. 10” or “Keogh,” permits self-employed individuals to establish tax-favored
retirement plans for themselves and their employees. Such retirement plans
may permit the purchase of annuity contracts in order to
provide benefits under the plans; however, there are limits
on the amount of incidental benefits that may be provided
under pension and profit sharing plans. |
Deferred Compensation Plans of
State and Local Governments and
Tax- Exempt Organizations |
Section 457 of the Code permits employees of state and local governments and tax-
exempt organizations to defer a portion of their compensation without
paying current taxes. The employees must be participants in
an eligible deferred compensation plan. A Section 457 plan
must satisfy several conditions, including the requirement that it must not permit distributions prior to your separation from service (except in the
case of an unforeseen emergency). When we make payments under a Section
457 Contract, the payment is taxed as ordinary
income. |
If we have to withhold a portion of your distribution, we will treat any amount we withhold as a withdrawal from your
Contract, which could result in an Excess Withdrawal or other type of
reduction in the guarantees and benefits that you may have
purchased under an optional benefits Rider to your Contract. |
We do not need to withhold any amounts if you provide us with information, on the forms we require for this purpose, that
you wish to assign a Qualified Contract to another Qualified Plan and/or
transfer amounts from that Contract directly to another
Qualified Plan. Similarly, if you wish to make Additional Purchase Payments to a Qualified Contract, you may find it advantageous to instruct your existing retirement plan to transfer amounts directly to us, in lieu of making a distribution to
you. Please seek independent tax advice if you intend to maintain a Contract for use with a Qualified Plan. |
If you instruct us to transfer a rollover amount from a Qualified Contract to a Roth IRA, we will assume it is permitted
under your plan and you may instruct us to not withhold any of the rollover
for taxes and remittance to the IRS. A direct rollover is not
subject to mandatory tax withholding, even if the distribution is includible in gross income. If you instruct us to withhold taxes in connection with a direct rollover from an existing Contract to a Roth IRA, we will treat any amount we
withhold as a withdrawal from your Contract. This could result in an Excess
Withdrawal, or other reduction of the guarantees and benefits
you may have purchased under an optional benefits Rider to your Contract. Please read Appendix C: “Optional Guaranteed Minimum Withdrawal Benefits” for information about the impact of withdrawals on optional
benefit Riders. |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To approximate the aggregate total return
of a broad-based U.S. domestic equity
market index. |
500 Index Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.25%* |
25.95 |
15.40 |
11.75 |
To seek income and capital appreciation. |
Active Bond Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.91% |
6.21 |
1.41 |
2.13 |
To seek to provide high total return
(including income and capital gains)
consistent with preservation of capital
over the long term. |
American Asset Allocation Trust - Series
II
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.08% |
13.68 |
8.70 |
6.75 |
To seek to provide long-term growth of
capital. |
American Global Growth Trust - Series II
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.21%* |
22.02 |
13.12 |
9.07 |
To seek to provide growth of capital. |
American Growth Trust - Series II
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.12%* |
37.88 |
18.17 |
13.85 |
To seek to provide long-term growth of
capital and income. |
American Growth-Income Trust - Series
II
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.06%* |
25.52 |
12.86 |
10.41 |
To seek to provide long-term growth of
capital. |
American International Trust - Series II
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.32%* |
15.23 |
4.31 |
2.89 |
To provide long-term growth of capital.
Current income is a secondary objective. |
Blue Chip Growth Trust - Series II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.02%* |
49.25 |
13.31 |
12.12 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek long-term growth of capital. |
Capital Appreciation Trust - Series II
John Hancock Variable Trust Advisers
LLC/Jennison Associates LLC |
1.01%* |
52.51 |
17.74 |
13.87 |
To seek long-term capital appreciation. |
Capital Appreciation Value Trust - Series
II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.14%* |
18.01 |
12.20 |
10.03 |
To seek total return consisting of income
and capital appreciation. |
Core Bond Trust - Series II
John Hancock Variable Trust Advisers
LLC/Allspring Global Investments, LLC |
0.88%* |
5.61 |
0.85 |
1.49 |
To seek long-term growth of capital. |
Disciplined Value International Trust -
Series II
John Hancock Variable Trust Advisers
LLC/Boston Partners Global Investors, Inc. |
1.04%* |
19.69 |
8.21 |
2.84 |
To seek long-term capital appreciation. |
Emerging Markets Value Trust - Series II
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP |
1.28%* |
14.85 |
5.17 |
2.84 |
To provide substantial dividend income
and also long-term growth of capital. |
Equity Income Trust - Series II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
0.96%* |
9.26 |
10.88 |
7.61 |
To seek growth of capital. |
Financial Industries Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
1.14%* |
4.98 |
9.44 |
6.82 |
To seek long-term growth of capital. |
Fundamental All Cap Core Trust - Series
II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.96%* |
35.10 |
18.07 |
12.04 |
To seek long-term capital appreciation. |
Fundamental Large Cap Value Trust -
Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.98%* |
23.22 |
17.35 |
9.97 |
To seek long-term capital appreciation. |
Global Equity Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
1.14%* |
19.81 |
8.72 |
4.31 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek long-term capital appreciation. |
Health Sciences Trust - Series II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.25%* |
4.02 |
10.29 |
10.67 |
To realize an above-average total return
over a market cycle of three to five years,
consistent with reasonable risk. |
High Yield Trust - Series II
John Hancock Variable Trust Advisers
LLC/Western Asset Management Company, LLC |
1.06%* |
12.70 |
4.70 |
3.33 |
To seek to track the performance of a
broad-based equity index of foreign
companies primarily in developed
countries and, to a lesser extent, in
emerging markets. |
International Equity Index Trust - Series
NAV
John Hancock Variable Trust Advisers
LLC/SSGA Funds Management, Inc. |
0.34%* |
15.42 |
6.97 |
3.71 |
To seek long-term capital appreciation. |
International Small Company Trust -
Series II
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP |
1.25%* |
13.33 |
6.80 |
4.01 |
To provide a high level of current income
consistent with the maintenance of
principal and liquidity. |
Investment Quality Bond Trust - Series II
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
0.96%* |
6.28 |
1.17 |
1.74 |
To seek a balance between a high level of
current income and growth of capital,
with a greater emphasis on growth of
capital. |
Lifestyle Balanced Portfolio - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.89% |
13.50 |
6.70 |
5.15 |
To seek a high level of current income
with some consideration given to growth
of capital. |
Lifestyle Conservative Portfolio - Series
II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.91%* |
8.90 |
3.42 |
3.09 |
To seek long-term growth of capital.
Current income is also a consideration. |
Lifestyle Growth Portfolio - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.87% |
16.67 |
8.86 |
6.49 |
To seek a balance between a high level of
current income and growth of capital,
with a greater emphasis on income. |
Lifestyle Moderate Portfolio - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.90%* |
11.91 |
5.59 |
4.46 |
To seek growth of capital and current
income while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses. |
Managed Volatility Balanced Portfolio -
Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
1.01% |
11.79 |
4.42 |
3.61 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek current income and growth of
capital, while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses. |
Managed Volatility Conservative Portfolio
- Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
1.00% |
5.20 |
1.54 |
2.16 |
To seek long term growth of capital while
seeking to both manage the volatility of
return and limit the magnitude of
portfolio losses. |
Managed Volatility Growth Portfolio -
Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
1.04% |
13.54 |
4.98 |
3.50 |
To seek current income and growth of
capital while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses. |
Managed Volatility Moderate Portfolio -
Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
1.00% |
10.54 |
3.94 |
3.52 |
To seek long-term growth of capital. |
Mid Cap Growth Trust - Series II
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
1.15% |
18.63 |
12.11 |
9.52 |
Seeks to approximate the aggregate total
return of a mid cap U.S. domestic equity
market index. |
Mid Cap Index Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.66%* |
15.73 |
11.93 |
8.59 |
To seek long-term capital appreciation. |
Mid Value Trust - Series II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.21%* |
18.25 |
12.80 |
9.06 |
To obtain maximum current income
consistent with preservation of principal
and liquidity. |
Money Market Trust** - Series NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.28%* |
4.81 |
1.68 |
1.07 |
To seek maximum total return, consistent
with preservation of capital and prudent
investment management. |
Opportunistic Fixed Income Trust - Series
II
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
1.13%* |
7.97 |
2.45 |
1.96 |
To seek to achieve a combination of long-
term capital appreciation and current
income. |
Real Estate Securities Trust - Series II
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
1.01%* |
12.80 |
7.47 |
7.73 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek long-term growth of capital.
Current income is incidental to the fund’s
objective. |
Science & Technology Trust - Series II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.24%* |
54.37 |
18.38 |
15.48 |
To seek income and capital appreciation. |
Select Bond Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.85%* |
5.88 |
1.13 |
1.67 |
To seek a high level of current income
consistent with preservation of capital.
Maintaining a stable share price is a
secondary goal. |
Short Term Government Income Trust -
Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.92%* |
3.63 |
0.27 |
0.41 |
Seeks to approximate the aggregate total
return of a small cap U.S. domestic equity
market index. |
Small Cap Index Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.73%* |
16.22 |
9.33 |
6.59 |
To seek long-term capital appreciation. |
Small Cap Opportunities Trust - Series II
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP and GW&K Investment Management, LLC |
1.09%* |
17.83 |
13.70 |
7.64 |
To seek long-term capital appreciation. |
Small Cap Stock Trust - Series II
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
1.33%* |
15.89 |
10.90 |
7.16 |
To seek long-term capital appreciation. |
Small Cap Value Trust - Series II
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
1.24%* |
13.85 |
8.58 |
5.81 |
To seek long-term growth of capital. |
Small Company Value Trust - Series II
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.41%* |
13.38 |
8.99 |
6.33 |
To seek a high level of current income. |
Strategic Income Opportunities Trust -
Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.99%* |
7.23 |
3.06 |
2.59 |
To seek to track the performance of the
Bloomberg U.S. Aggregate Bond Index
(the “Bloomberg Index”) (which
represents the U.S. investment grade bond
market). |
Total Bond Market Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.50%* |
5.02 |
0.56 |
1.33 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
Seeks to approximate the aggregate total
return of a broad U.S. domestic equity
market index. |
Total Stock Market Index Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.78%* |
25.25 |
14.15 |
10.51 |
The fund seeks a high level of current
income consistent with the maintenance
of liquidity and the preservation of
capital. |
Ultra Short Term Bond Trust - Series II
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.87%* |
4.41 |
1.36 |
0.83 |
Contract Year |
Hypothetical
Contract Value |
Free
Withdrawal
Amount |
Payments
Liquidated |
Withdrawal Charge | |
Percent |
Amount | ||||
2 |
$55,000 |
$5,0001 |
$50,000 |
6% |
$3,000 |
4 |
$50,500 |
$5,0002 |
$45,500 |
5% |
$2,275 |
6 |
$60,000 |
$10,0003 |
$50,000 |
3% |
$1,500 |
7 |
$35,000 |
$5,0004 |
$45,0004 |
2% |
$900 |
8 |
$70,000 |
$20,0005 |
$50,000 |
0% |
$0 |
Hypothetical
Contract Value |
Withdrawal
Requested |
Free
Withdrawal
Amount |
Payments
Liquidated |
Withdrawal Charge | |
Percent |
Amount | ||||
$65,000 |
$2,000 |
$15,0001 |
$0 |
5% |
$0 |
$49,000 |
$5,000 |
$3,0002 |
$2,000 |
5% |
$100 |
$52,000 |
$7,000 |
$4,0003 |
$3,000 |
5% |
$150 |
$44,000 |
$8,000 |
$04 |
$8,000 |
5% |
$400 |
Number of Complete Years
Payment has been in Contract |
Payment Multiplier1 |
0 |
100% |
1 |
110% |
2 |
120% |
3 |
130% |
4 |
140% |
5 |
150% |
If we decide to increase the rate of a Rider fee at the time of a Step-Up, you will receive advance notice and be given the
opportunity of no less than 30 days to decline the Step-Up. If you decline a
scheduled Step-Up, we will not increase the Rider fee at that
time. You will have the option to elect a Step-Up within 30 days of subsequent Step-Up Dates. If you decide to step-up a guaranteed amount at that time, we will thereafter resume automatic Step-Ups on each succeeding Step-
Up Date. |
Model Allocation Name |
Model Allocation Percentage |
Portfolio Name |
Fundamental Holdings of America
(not available after April 30, 2009) |
15% 25% 25% 35% |
American International Trust American Growth Trust American Growth-Income Trust
Select Bond Trust |
Model Allocation Name |
Model Allocation Percentage |
Portfolio Name |
Conservative Income Strategy
(formerly, “Scudder Conservative Income
Strategy”): |
64.00% 10.00% 7.00% 6.00% 3.00% 2.00% 2.00% 2.00% 2.00% 1.00% 1.00% |
Investment Quality Bond Trust Active Bond Trust Fundamental All Cap Core Trust
500 Index Trust
Disciplined Value International Trust
Total Stock Market Index Trust
Real Estate Securities Trust Small Cap Index Trust Fundamental Large Cap Value Trust Global Equity Trust International Equity Index Trust |
Growth Strategy
(formerly, “Scudder Growth Strategy”): |
23.00% 18.00% 14.00% 14.00% 11.00% 5.00% 5.00% 4.00% 2.00% 2.00% 2.00% |
500 Index Trust
Fundamental All Cap Core Trust
Disciplined Value International Trust
Fundamental Large Cap Value Trust
Investment Quality Bond Trust
Total Stock Market Index Trust Small Cap Index Trust Real Estate Securities Trust
Global Equity Trust
International Equity Index Trust
Active Bond Trust |
Growth & Income Strategy
(formerly, “Scudder Growth & Income
Strategy”): |
32.00% 17.00% 15.00% 9.00% 7.00% 5.00% 4.00% 3.00% 2.00% 2.00% 4.00% |
Investment Quality Bond Trust 500 Index Trust Fundamental All Cap Core Trust
Disciplined Value International Trust
Fundamental Large Cap Value Trust Active Bond Trust Total Stock Market Index Trust Real Estate Securities Trust Global Equity Trust International Equity Index Trust
Small Cap Index Trust |
Income & Growth Strategy
(formerly, “Scudder Income & Growth
Strategy”): |
46.00% 13.00% 11.00% 7.00% 6.00% 5.00% 3.00% 3.00% 2.00% 2.00% 2.00% |
Investment Quality Bond Trust
Fundamental All Cap Core Trust 500 Index Trust Active Bond Trust
Disciplined Value International Trust
Fundamental Large Cap Value Trust
Total Stock Market Index Trust
Small Cap Index Trust
Global Equity Trust
International Equity Index Trust
Real Estate Securities Trust |
Model Allocation Name |
Model Allocation Percentage |
Portfolio Name |
Growth Focus: |
45.00% 40.00% 15.00% |
500 Index Trust
Investment Quality Bond Trust Fundamental All Cap Core Trust |
Sector Focus: |
40.00% 30.00% 15.00% 15.00% |
Investment Quality Bond Trust Total Stock Market Index Trust Real Estate Securities Trust Fundamental All Cap Core Trust |
US All-Capitalization: |
40.00% 15.00% 15.00% 15.00% 15.00% |
Investment Quality Bond Trust
500 Index Trust
Small Cap Index Trust
Fundamental All Cap Core Trust
Mid Cap Index Trust |
Value Focus: |
40.00% 30.00% 30.00% |
Investment Quality Bond Trust Fundamental All Cap Core Trust Fundamental Large Cap Value Trust |
A Model Allocation may experience volatility in its investment performance or lose money, depending on the
performance of the component Portfolios referenced above.
Your investment in the Portfolios will fluctuate and, when redeemed, may be worth more or less than your original investment. For more information regarding each Portfolio
that we permit you to invest in through a Model Allocation,
including information relating to that Portfolio’s investment objectives, policies and restrictions, and the risks of investing in that Portfolio, please see “VI. General
Information about Us, the Separate Accounts and the
Portfolios,” as well as the Portfolio’s prospectus. You can obtain a Prospectus containing more complete information on each of the Portfolios by contacting the respective Annuities
Service Center shown on the back cover of this Prospectus.
Please read the Portfolio’s prospectus carefully before investing in the corresponding Investment Option. |
Excess Withdrawals may reduce or eliminate future guaranteed minimum withdrawal values. |
We base our Life Expectancy Distribution calculations on our understanding and interpretation of the requirements under
tax law applicable to Pre-59½ Distributions, Required Minimum
Distributions, Nonqualified Death Benefit Stretch Distributions
and Qualified Death Benefit Stretch Distributions. Please discuss these matters with a qualified tax professional. |
We apply Annual Credits on your Contract Anniversaries if you have taken no withdrawals during the preceding Contract
Year. For additional details on how we calculate the Annual Credit, please
see the Example above. |
The Ten Year Credit provides the equivalent of the first 10 Annual Credits, assuming you receive no Step-Ups, take no
withdrawals of Contract Value and make no Additional Purchase Payments during
the Ten Year Credit Period. |
We do not apply any Annual Credit or Ten Year Credit to the extent it increases the Benefit Base to an amount in excess of
$5 million. |
Step-Ups may occur only while the Income Plus For Life® 12.08 Series Rider is in
effect. |
If the Deceased
Owner is: |
Then
INCOME PLUS FOR LIFE® 12.08:
| ||
1. |
Not the Covered Person |
- |
may continue if the Beneficiary elects to continue the Contract within the time
we permit under our administrative rules. We automatically increase the
Benefit Base to equal the initial death benefit we
determine, if the death benefit is greater than the Benefit
Base prior to our determination. We also recalculate the
Lifetime Income Amount to equal 5% of the recalculated Benefit Base and
assess the Rider fee based on the recalculated Benefit
Base. |
- |
enters its Settlement Phase if a subsequent withdrawal would deplete the
Contract Value to zero, and the remaining Lifetime Income Amount for the
year of withdrawal is still greater than zero.
| ||
- |
continues to be eligible for any remaining Credit amounts and Step-Ups,
and a Target Amount adjustment, but we change the date we
determine and apply these benefits to future anniversaries
of the date we determine the initial death benefit. We
permit the Beneficiary to opt out of an increase in the Benefit Base, if any, to reflect the initial death benefit and any future Step-Ups if we increase the rate of
the Income Plus For Life® 12.08 fee at that
time. | ||
2. |
The Covered Person |
- |
ends without any further benefit. |
We apply Annual Credits on your Contract Anniversaries if you have taken no withdrawals during the preceding Contract
Year. For additional details on how we calculate the Annual Credit, please
see the Example above. |
We do not apply any Annual Credit to the extent it would increase the Benefit Base to an amount in excess of $5 million. |
The Target Amount adjustment can provide higher lifetime income than you would otherwise achieve under this Rider. The
Target Amount adjustment provides its greatest benefit if you wait until the
Target Date to take your first withdrawal. If you take a
withdrawal prior to the Target Date, we will reduce the Target Amount and it will not be of as much value to you. If you continue to take withdrawals prior to the Target Date, we may reduce any remaining Target Amount to zero. |
Step-Ups may occur only while the Income Plus For Life® (Quarterly Step-Up Review)
Series Rider is in effect. |
We may reduce the Benefit Base and Lifetime Income Amount values if you take Excess Withdrawals. Excess Withdrawals
may reduce or eliminate future Lifetime Income Amount values. We reduce your
Contract Value and your death benefit each time you take a
withdrawal. |
If the Deceased
Owner is: |
Then
INCOME PLUS FOR LIFE® (Quarterly
Step-Up Review): | ||
1. |
Not the Covered Person |
- |
may continue if the Beneficiary elects to continue the Contract within the time
we permit under our administrative rules. We automatically increase the
Benefit Base to equal the initial death benefit we
determine, if the death benefit is greater than the Benefit
Base prior to our determination. We also recalculate the
Lifetime Income Amount to equal 5% of the recalculated Benefit Base and
assess the Rider fee based on the recalculated Benefit
Base. |
- |
enters its Settlement Phase if a subsequent withdrawal would deplete the
Contract Value to zero, and the remaining Lifetime Income Amount for the
year of withdrawal is still greater than zero.
| ||
- |
continues to be eligible for any remaining Credit amounts and Step-Ups,
and a Target Amount adjustment, but we change the date we
determine and apply these benefits to future anniversaries
of the date we determine the initial death benefit. We
permit the Beneficiary to opt out of an increase in the Benefit Base, if any, to reflect the initial death benefit and any future Step-Ups if we increase the rate of
the Income Plus For Life® (Quarterly Step-Up Review) fee
at that time. | ||
2. |
The Covered Person |
- |
ends without any further benefit. |
The Ten Year Credit can provide higher lifetime income than you would otherwise receive under this Rider, as long as you
wait until the end of the Target Date to take your first
withdrawal. |
Step-Ups may occur only while the Income Plus For Life® (Annual Step-Up Review) Series
Rider is in effect. |
We reduce your Contract Value each time you take a withdrawal. We may reduce the Benefit Base and Lifetime Income
Amount values if you take Excess Withdrawals. Excess Withdrawals may reduce
or eliminate future Lifetime Income Amount values.
|
If you take withdrawals prior to the Lifetime Income Date, we reduce the Benefit Base we use to determine the guaranteed
Lifetime Income Amount on the Lifetime Income Date. You could eventually lose
any benefit based on the Lifetime Income Amount if you take
withdrawals in excess of an amount equal to the Benefit Rate multiplied by the Benefit Base. If
Contract Value declines to zero during a Contract Year in
which you have an Excess Withdrawal, you will lose the guaranteed minimum withdrawal benefit under the Income Plus For Life® (Annual Step-Up Review) Rider. (See “Settlement
Phase” in this section, below.) |
If the Deceased
Owner is: |
Then
INCOME PLUS FOR LIFE® (ANNUAL
STEP-UP REVIEW): | ||
1. |
Not the Covered Person and
the Beneficiary is the
deceased Owner’s Spouse |
- |
may continue if the Beneficiary elects to continue the Contract within the time
we permit under our administrative rules. We automatically increase the
Benefit Base to equal the initial death benefit we
determine, if the death benefit is greater than the Benefit
Base prior to our determination. We also recalculate the
Lifetime Income Amount to equal 5% of the recalculated Benefit Base and
assess the Rider fee based on the recalculated Benefit
Base. |
- |
enters its Settlement Phase if a subsequent withdrawal would deplete the
Contract Value to zero, and the remaining Lifetime Income Amount for the
year of withdrawal is still greater than zero.
| ||
- |
continues to be eligible for any remaining Credits and Step-Ups, and a
Target Amount adjustment, but we change the date we
determine and apply these benefits to future anniversaries
of the date we determine the initial death benefit. We
permit the Spouse to opt out of an increase in the Benefit Base, if any, to reflect the initial death benefit and any future Step-Ups if we increase the rate of
the Income Plus For Life® (Annual Step-Up Review) fee at
that time. | ||
2. |
Not the Covered Person and
the Beneficiary is not the
deceased Owner’s Spouse |
- |
may continue in the same manner as 1. |
- |
enters its Settlement Phase if a subsequent withdrawal would deplete the
Contract Value to zero, and the remaining Lifetime Income Amount for the
year of withdrawal is still greater than zero.
| ||
- |
does not continue to be eligible for any Credits and
Step-Ups, or a Target Amount adjustment. We permit the
Beneficiary to opt out of an increase in the Benefit Base,
if any, to reflect the initial death benefit if we increase the rate of the Income Plus For Life® (Annual Step-Up Review) fee at that time. | ||
3. |
The Covered Person and the
Beneficiary is the deceased
Owner’s Spouse |
- |
ends without any further benefit. |
4. |
The Covered Person and the
Beneficiary is not the
deceased Owner’s Spouse |
- |
ends without any further benefit. |
Step-Ups may occur only while the Principal Plus or Principal Plus for Life Series Rider is in effect. |
We reduce your Contract Value each time you take a withdrawal. We may reduce the Benefit Base and Lifetime Income
Amount values if you take Excess Withdrawals. Excess Withdrawals may reduce
or eliminate future Lifetime Income Amount values.
|
If your annual withdrawals exceed the Guaranteed Withdrawal Amount, we recalculate amounts we guarantee for future
withdrawals. We may recalculate and reduce the Benefit Base, Guaranteed
Withdrawal Amount and, Lifetime Income Amount (under Principal Plus for Life Series Riders) values to
reflect reductions that exceed the amount of your withdrawals.
A recalculation and reduction also may reduce the total amount guaranteed below the total of your Purchase Payments and may reduce or eliminate future Guaranteed Withdrawal Amount and (under Principal Plus for Life Series Riders) Lifetime Income Amount values. Withdrawals
in excess of the Lifetime Income Amount may reduce or eliminate
future Lifetime Income Amount values. |
We will not make any further withdrawals under our Life Expectancy Distribution program if both the Contract Value and
the Benefit Base are depleted to zero. Under a Principal Plus for Life Series
Rider, however, we will make further distributions as part of
the Settlement Phase if the Lifetime Income Amount is greater than zero and the Covered Person is living at that time. |
If the Beneficiary is: |
Then
PRINCIPAL PLUS: | ||
1. |
The deceased Owner’s
Spouse |
- |
Continues if the Benefit Base is greater than zero. |
- |
Within 30 days following the date we determine the death benefit under the
Contract, provides the Beneficiary with an option to elect to step up the
Benefit Base if the death benefit on the date of
determination is greater than the Benefit Base.
| ||
- |
Enters the Settlement Phase if a withdrawal would deplete the Contract Value to
zero, and the Benefit Base is still greater than zero. (Death benefit
distributions are treated as withdrawals. Some methods of
death benefit distribution may result in distribution
amounts in excess of both the Guaranteed Withdrawal Amount
and the Life Expectancy Distributions. In such cases, the Benefit Base may be automatically Reset, thereby possibly reducing the Guaranteed Minimum
Withdrawal Benefit provided under this Rider). |
||
- |
Continues to impose the Principal Plus fee. | ||
- |
Continues to be eligible for any remaining Credits and Step-Ups, but we change
the date we determine and apply these benefits to future anniversaries of
the date we determine the initial death benefit. Remaining
eligible Step-Up Dates will also be measured beginning from
the death benefit determination date but the latest Step-Up
Date will be no later than the 30th Contract Anniversary. |
If the Beneficiary is: |
Then
PRINCIPAL PLUS: | ||
2. |
Not the deceased Owner’s
Spouse |
- |
Continues in the same manner as above, except that Principal Plus does not
continue to be eligible for any remaining Credits and Step-Ups, other than
the initial Step-Up of the Benefit Base to equal the death
benefit, if greater than the Benefit Base prior to the death
benefit. |
If the Deceased
Owner is: |
Then
PRINCIPAL PLUS FOR LIFE OR PRINCIPAL PLUS FOR LIFE PLUS
AUTOMATIC ANNUAL STEP-UP:
| ||
1. |
The Covered Person and the
Beneficiary is the deceased
Owner’s Spouse |
- |
Does not continue with respect to the Lifetime Income Amount, but continues
with respect to the Guaranteed Withdrawal Amount if the death benefit or
the Benefit Base is greater than zero. We automatically step
up the Benefit Base to equal the initial death benefit we
determine, if greater than the Benefit Base prior to the
death benefit. |
- |
Enters the Settlement Phase if a withdrawal would deplete the Contract Value to
zero, and the Benefit Base is still greater than zero. | ||
- |
Continues to impose the Principal Plus for Life fee. | ||
- |
Continues to be eligible for any remaining Credits and Step-Ups, but we
change the date we determine and apply these benefits to
future anniversaries of the date we determine the initial
death benefit. We permit the Spouse to opt out of the
initial death benefit Step-Up, if any, and any future Step-Ups if we
increase the rate of the Rider fee at that
time. | ||
2. |
The Covered Person and the
Beneficiary is not the
deceased Owner’s Spouse |
- |
Continues in the same manner as 1, except that Principal Plus for Life
does not continue to be eligible for any remaining Credits
and Step-Ups, other than the initial Step-Up of the Benefit
Base to equal the death benefit, if greater than the Benefit
Base prior to the death benefit. We permit the Beneficiary to opt out of the initial death benefit Step-Up, if any, if we increase the rate of the Rider fee at
that time. |
3. |
Not the Covered Person and
the Beneficiary is the
deceased Owner’s Spouse |
- |
Continues in the same manner as 1, except that the Rider continues with
respect to the Lifetime Income Amount for the Beneficiary.
If the Lifetime Income Amount has not been determined prior
to the payment of any portion of the death benefit, we
determine the initial Lifetime Income Amount on an
anniversary of the date we determine the death benefit after the Covered
Person has reached his or her Lifetime Income
Date. |
4. |
Not the Covered Person and
the Beneficiary is not the
deceased Owner’s Spouse |
- |
Continues in the same manner as 1, except that the Rider continues with respect
to the Lifetime Income Amount for the Beneficiary. If the Lifetime Income
Amount has not been determined prior to the payment of any
portion of the death benefit, we determine the initial
Lifetime Income Amount on an anniversary of the date we
determine the death benefit after the Covered Person has
reached his or her Lifetime Income Date. |
- |
In this case, does not continue to be eligible for any remaining Credits and Step-
Ups, other than the initial Step-Up of the Benefit Base to equal the death
benefit, if greater than the Benefit Base prior to the death
benefit. We permit the Beneficiary to opt out of the initial
death benefit Step-Up, if any, if we increase the rate of
the Rider fee at that time. |
You are not eligible for an Accumulation Benefit if you take a withdrawal of Contract Value, including any required
minimum distribution from a Qualified Contract or any withdrawal of death
benefit proceeds, during the first 10 Contract
Years. |
We reduce your Contract Value each time you take a withdrawal. We may reduce the Benefit Base and Guaranteed
Withdrawal Amount values if you take Excess Withdrawals. Excess Withdrawals
may reduce or eliminate future Guaranteed Withdrawal Amount
values. |
If your annual withdrawals exceed the Guaranteed Withdrawal Amount, we recalculate amounts we guarantee for future
withdrawals. We may recalculate and reduce the Benefit Base and Guaranteed
Withdrawal Amount by amounts that exceed the amount of your
withdrawals. A recalculation also may reduce the total amount guaranteed to an amount less than the total of your Purchase Payments and may reduce or eliminate future Guaranteed Withdrawal Amount values. |
If you begin taking Life Expectancy Distributions during the first 10 Contract Years, you no longer qualify for the Rider’s
Accumulation Benefit at your 10th Contract Anniversary. |
Guaranteed Retirement Income Benefit Rider |
Annual Fee |
Guaranteed Retirement Income Benefit II |
0.45% |
Guaranteed Retirement Income Benefit III |
0.50% |
Guaranteed Retirement Income Benefit Rider |
Annual Fee |
Guaranteed Retirement Income Benefit II |
0.45% |
Date |
Anniversary Value |
Growth Factor Income Base |
Step-up Income Base |
May 1, 2002 |
$100,000.00 |
$100,000.00 |
$100,000.00 |
May 1, 2003 |
$107,000.00 |
$106,000.00 |
$107,000.00 |
May 1, 2004 |
$105,000.00 |
$112,360.00 |
$107,000.00 |
May 1, 2005 |
$110,000.00 |
$119,101.60 |
$110,000.00 |
May 1, 2006 |
$99,000.00 |
$114,665.34 |
$99,908.26 |
May 1, 2007 |
$107,000.00 |
$121,545.26 |
$107,000.00 |
May 1, 2008 |
$109,000.00 |
$128,837.98 |
$109,000.00 |
May 1, 2009 |
$114,000.00 |
$136,568.25 |
$114,000.00 |
May 1, 2010 |
$115,000.00 |
$144,762.35 |
$115,000.00 |
May 1, 2011 |
$124,000.00 |
$153,448.09 |
$124,000.00 |
May 1, 2012 |
$142,000.00 |
$162,654.98 |
$142,000.00 |
Date |
Anniversary Value |
Growth Factor Income Base |
Step-up Income Base |
May 1, 2003 |
$100,000.00 |
$100,000.00 |
$100,000.00 |
May 1, 2004 |
$107,000.00 |
$105,000.00 |
$107,000.00 |
May 1, 2005 |
$105,000.00 |
$110,250.00 |
$107,000.00 |
May 1, 2006 |
$110,000.00 |
$115,762.50 |
$110,000.00 |
May 1, 2007 |
$99,000.00 |
$116,550.63 |
$104,711.54 |
May 1, 2008 |
$107,000.00 |
$122,378.16 |
$107,000.00 |
May 1, 2009 |
$109,000.00 |
$128,497.07 |
$109,000.00 |
May 1, 2010 |
$114,000.00 |
$134,921.92 |
$114,000.00 |
May 1, 2011 |
$115,000.00 |
$141,668.02 |
$115,000.00 |
May 1, 2012 |
$124,000.00 |
$148,751.42 |
$124,000.00 |
May 1, 2013 |
$142,000.00 |
$156,188.99 |
$142,000.00 |
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) |
JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK | ||
John Hancock Annuities Service Center |
John Hancock Annuities Service Center | ||
Mailing Address |
Overnight Mail Address |
Mailing Address |
Overnight Mail Address |
PO Box 55444 Boston, MA
02205-5444 www.johnhancock.com/annuities |
372 University Ave – Suite 55444 Westwood, MA 02090
1-800-344-1029 |
PO Box 55445
Boston, MA 02205-5445
www.johnhancock.com/annuities |
372 University Ave – Suite 55445 Westwood, MA 02090
1-800-344-1029 |
Name of Policy (and SEC EDGAR Identifier #) |
Name of Policy (and SEC EDGAR Identifier #) |
Venture Variable Annuity (C000007850) |
Wealthmark Variable Annuity (C000007850) |
Venture III Variable Annuity (C000007852) |
Wealthmark ML3 Variable Annuity (C000007852) |
John Hancock Annuities Service Center | |
Overnight Mail Address |
Mailing Address and Telephone Number |
372 University Ave, STE 55445
Westwood, MA 02090 |
PO Box 55445 Boston, MA
02205-5445 www.johnhancock.com/annuities
1-800-344-1029 |
DISTRIBUTOR |
Edward Jones Co., L.P. |
Morgan Stanley Smith Barney Network |
UBS Financial Services, Inc. |
Name and Principal Business Address |
Position with Depositor |
Brooks Tingle 200 Berkeley Street Boston, MA 02116 |
Chair, Director, President & Chief Executive Officer |
Nora Newton Crouch 804 Pepper Avenue Richmond, VA 23226 |
Director |
Thomas Edward Hampton
1900 K Street NW
Washington, DC 20006 |
Director |
J. Stephanie Nam 1 West 72nd Street, Apt. 35 New York NY 10023 |
Director |
Ken Ross 200 Berkeley St. Boston, MA 02116 |
Director, Vice President |
Shamus Weiland 200 Bloor Street E. Toronto, ON M4W 1E5 |
Director |
Henry H. Wong 200 Berkeley Street Boston, MA 02116 |
Director, Vice President |
Executive Vice Presidents |
|
Andrew G. Arnott** |
Global Head of Retail, GWAM |
Christopher Paul Conkey** |
Global Head of Public Markets |
Scott S. Hartz** |
Chief Investment Officer – U.S. Investments |
Senior Vice Presidents |
|
John Addeo** |
Global Fixed Income Chief Investment Officer |
John C.S. Anderson** |
Global Head of Corporate Finance |
Kevin J. Cloherty** |
Deputy General Counsel, Global Markets |
Mike Dallas** |
Global Head of Employee Experience |
Aimee DeCamillo* |
Global Head of Retirement |
Peter DeFrancesco* |
Head of Digital – Direct to Consumer |
Michael F Dommermuth*** |
Head of Wealth & Asset Management |
Kristie Feinberg* |
Head of MIM US and Europe |
Maryscott Greenwood** |
Global Head of Regulatory & Public Affairs |
Len van Greuning* |
Chief Information Officer MIM |
Anne Hammer* |
Global Chief Communications Officer |
John B Maynard** |
Deputy General Counsel, Legacy, Reinsurance & Tax |
Steven E. Medina** |
Global Equity Chief Investment Officer |
Joelle Metzman** |
GWAM Chief Risk Officer |
Sinead O’Connor* |
Head of Actuarial Policy |
Wayne Park* |
Head of US Retirement |
Gerald Peterson** |
Global Head of Operations, GWAM |
Nicole Rafferty*** |
Global Head of Contact Centers |
Susan Roberts* |
Head of LTC Customer Care Transformation |
Ian Roke** |
Global Head of Asset & Liability Management |
Thomas Samoluk** |
US General Counsel and US Government Relations |
Anthony Teta* |
US Head of Inforce Management |
Nathan Thooft** |
Global MAST Chief Investment Officer |
Anne Valentine-Andrews*** |
Global Head of Private Markets |
Blake Witherington** |
US Chief Credit Officer |
Name and Principal Business Address |
Position with Depositor |
Vice Presidents |
|
Lynda Abend* |
|
Mark Akerson* |
|
Kenneth D’Amato** |
|
Jay Aronowitz** |
|
Kevin Askew** |
|
William Auger* |
|
Jack Barry* |
|
P.J. Beltramini* |
|
Zahir Bhanji*** |
|
Jon Bourgault** |
|
Paul Boyne** |
|
Ian B. Brodie** |
|
Ted Bruntrager* |
CCO & Chief Risk Officer |
Grant Buchanan*** |
|
Ginger Burns** |
|
Brendan Campbell* |
|
Yan Rong Cao* |
|
Rick A. Carlson** |
|
Patricia Rosch Carrington** |
|
Alex Catterick**** |
|
Ken K. Cha* |
|
Diana Chan*** |
Head of Treasury Operations |
Christopher M. Chapman** |
|
Sheila Chernicki* |
|
Teresa H. Chuang** |
|
Eileen Cloherty* |
|
Maggie Coleman*** |
|
Catherine Z. Collins** |
|
Meredith Comtois* |
|
Thomas D. Crohan** |
|
Susan Curry** |
|
Kenneth Dai*** |
Treasury |
Michelle M. Dauphinais* |
|
Frederick D Deminico** |
|
Susan P Dikramanjian** |
|
William D Droege** |
|
Jeffrey Duckworth** |
|
Marc Feliciano** |
|
Katie M. Firth** |
|
Carolyn Flanagan** |
|
Lauren Marx Fleming** |
|
Philip J. Fontana** |
|
Laura Foster*** |
|
Matthew Gabriel* |
|
Paul Gallagher** |
|
Melissa Gamble** |
|
Scott B. Garfield** |
|
Jeffrey N. Given** |
|
Thomas C. Goggins** |
|
Dara Gough* |
|
Howard C. Greene** |
|
Erik Gustafson** |
|
Neal Halder* |
|
Jeffrey Hammer*** |
|
Lindsay L. Hanson* |
|
Richard Harris*** |
Appointed Actuary |
Jessica Harrison*** |
|
Name and Principal Business Address |
Position with Depositor |
John Hatch* |
Chief Operations Officer – US Segment |
Justin Helferich*** |
|
Michael Hession* |
|
Philip Huvos* |
|
Sesh Iyengar** |
|
Tasneem Kanji** |
|
Geoffrey Grant Kelley** |
|
Recep C. Kendircioglu** |
|
Neal P. Kerins* |
|
Michael P King*** |
|
Heidi Knapp** |
|
Hung Ko*** |
|
Robert Krempus*** |
|
Diane R. Landers** |
|
Michael Landolfi** |
|
Tracy Lannigan** |
Corporate Secretary |
Jessica Lee*** |
|
Scott Lively** |
|
David Loh*** |
|
Jeffrey H. Long** |
|
Jennifer Lundmark* |
|
Edward P. Macdonald** |
|
Patrick MacDonnell** |
|
Shawn McCarthy** |
|
Andrew J. McFetridge** |
|
Jonathan McGee** |
|
Katie L. McKay** |
|
Eric S. Menzer** |
|
Stella Mink*** |
|
Michelle Morey* |
|
Scott Morin* |
|
Catherine Murphy* |
Deputy Appointed Actuary |
Richard Myrus** |
|
Lisa Natalicchio* |
|
Jeffrey H. Nataupsky** |
|
Scott Navin** |
|
Jeffrey Packard** |
|
Pragya Pandit* |
|
Onay Payne*** |
|
Gary M. Pelletier** |
|
David Pemstein** |
|
Jessica Portelance*** |
|
Jason M. Pratt** |
|
Ed Rapp** |
|
Todd Renneker** |
|
Chet Ritchie* |
|
Charles A. Rizzo** |
|
Emily Roland** |
|
Josephine M. Rollka* |
|
Barbara H. Rosen-Campbell** |
|
Caryn Rothman** |
|
Devon Russell* |
|
Paul Sanabria** |
|
Emory W. Sanders* |
|
Jeffrey R. Santerre** |
|
Marcia Schow** |
|
Christopher L. Sechler** |
|
Garima Vijay Sharma*** |
|
Name and Principal Business Address |
Position with Depositor |
Estelle Shaw-Latimer*** |
|
Thomas Shea** |
|
Lisa Shepard** |
|
Alex Silva* |
Chief Financial Officer - US Insurance |
Susan Simi** |
|
Darren Smith** |
|
Jayanthi Srinivasan*** |
|
Brittany Straughn* |
|
Katherine Sullivan** |
|
Trevor Swanberg** |
|
Robert E. Sykes, Jr.** |
|
Wilfred Talbot* |
|
Gary Tankersley* |
Head of US Retirement Distribution |
Michelle Taylor-Jones* |
|
Brian E. Torrisi** |
|
Simonetta Vendittelli* |
Chief Financial Officer and Controller |
Gina Goldych Walters** |
|
Adam Weigold** |
|
Jonathan T. White** |
|
Bryan Wilhelm* |
|
Karin Wilsey** |
|
Adam Wise** |
|
Jeffrey Wolfe** |
|
Thomas Zakian** |
|
Michael Zargaj* |
|
Name of Investment Company |
Capacity in Which Acting |
John Hancock Life Insurance Company (U.S.A.) Separate Account H |
Principal Underwriter |
John Hancock Life Insurance Company (U.S.A.) Separate Account A |
Principal Underwriter |
John Hancock Life Insurance Company (U.S.A.) Separate Account N |
Principal Underwriter |
John Hancock Life Insurance Company (U.S.A.) Separate Account I |
Principal Underwriter |
John Hancock Life Insurance Company (U.S.A.) Separate Account L |
Principal Underwriter |
Name of Investment Company |
Capacity in Which Acting |
John Hancock Life Insurance Company (U.S.A.) Separate Account M |
Principal Underwriter |
John Hancock Life Insurance Company of New York Separate Account A |
Principal Underwriter |
John Hancock Life Insurance Company of New York Separate Account B |
Principal Underwriter |
John Hancock Life Insurance Company (U.S.A.) Separate Account Q |
Principal Underwriter |
John Hancock Life Insurance Company (U.S.A.) Separate Account W |
Principal Underwriter |
John Hancock Life Insurance Company (U.S.A.) Separate Account X |
Principal Underwriter |
John Hancock Variable Life Account UV |
Principal Underwriter |
John Hancock Life Insurance Company (U.S.A.) Separate Account R |
Principal Underwriter |
John Hancock Life Insurance Company (U.S.A.) Separate Account T |
Principal Underwriter |
John Hancock Variable Life Account S |
Principal Underwriter |
John Hancock Variable Life Account U |
Principal Underwriter |
John Hancock Variable Life Account V |
Principal Underwriter |
Name |
Title |
Gary Tankersley* |
Director, President and Chief Executive Officer |
Alex Silva* |
Director |
Christopher Walker*** |
Director, Vice President, Investments |
Tracy Lannigan** |
Vice President and Corporate Secretary |
Rick Carlson** |
Vice President, US Taxation |
Jeffrey H. Long** |
Vice President, Chief Financial Officer and Financial Operations Principal |
Edward P. Macdonald** |
Vice President and General Counsel |
John Hancock Life Insurance Company of New York Separate Account A (Registrant) | |
By: |
John Hancock Life Insurance Company of New York (Depositor) |
By: |
* Brooks Tingle Chair and President |
John Hancock Life Insurance Company of New York | |
By: |
* Brooks Tingle Chair and President |
| |
*/s/ Sophia Pattas Sophia Pattas, as Attorney-In-Fact *Pursuant to Power of Attorney |
Signature |
Title |
* Brooks Tingle |
Chair and President (Chief Executive Officer) |
* Simonetta Vendittelli |
Chief Financial Officer, Vice President and Controller (Chief Accounting Officer) |
* Nora Newton Crouch |
Director |
* Thomas Edward Hampton |
Director |
* J. Stephanie Nam |
Director |
* Ken Ross |
Director |
* Shamus Weiland |
Director |
* Henry H. Wong |
Director |
*/s/ Sophia Pattas Sophia Pattas, as Attorney-In-Fact *Pursuant to Power of Attorney |
|