FEES AND EXPENSES | ||||
Charges for Early
Withdrawals |
There are contingent deferred sales charges (“CDSC”)
assessed upon surrender within the stated period or upon
reduction of Basic Sum Insured as part of a partial
withdrawal. The maximum CDSC charge is 100% of first year
Target Premium for surrenders in policy years 1-3. There are also partial withdrawal charges assessed if your make a partial
withdrawal. The maximum partial withdrawal charge is equal to the lesser
of 2% of the withdrawal amount or $20. |
FEE TABLE
Deductions from account
value | ||
Transaction Charges |
In addition to surrender charges (if applicable), you may also be
charged for the following transactions:
A premium sales charge and a tax charge will be deducted from each
premium paid.
An Additional Sum Insured (“ASI”) reduction charge upon
decrease in the Additional Sum Insured during the first 20
policy years. A transfer charge may be deducted upon transfers into or out of a
variable investment account after you have made more than
12 such transfers in a year. |
FEE TABLE Deductions from premium payments Deductions from account value |
FEES AND EXPENSES | ||||
Ongoing Fees and
Expenses (annual charges) |
In addition to surrender charges and transaction charges, you will also
be subject to certain ongoing fees and expenses, including
an insurance charge, issue charge, administrative charge,
asset-based risk charge, policy loan costs, and
supplementary benefit rider charges. Some of these fees and
expenses are based wholly or in part on the characteristics of the
insured persons (e.g., age, sex, and underwriting
classification). You should view the “policy specifications” page of your
policy for rates applicable to your policy.
|
FEE TABLE Deductions from account value | ||
You will also bear expenses associated with the portfolios under the
policy, as shown in the following table:
|
Charges at the portfolio
level
APPENDIX | |||
Annual Fee |
Minimum |
Maximum | ||
Variable investment accounts (portfolio fees
and expenses) |
0.39% |
2.58% |
RISKS | ||
Risk of Loss |
You can lose money by investing in this policy. |
PRINCIPAL RISKS OF
INVESTING IN A
POLICY |
Not a Short- Term
Investment |
This policy is not a short-term investment and is not appropriate for
an investor who needs ready access to cash. The policy is
unsuitable as a short-term savings vehicle because of
substantial policy-level charges, including the premium
charge and the surrender charge, as well as potential
adverse tax consequences from such short-term use. |
Access to Funds
Risk/Not a Short-Term Investment |
Risks Associated with
Investment Options |
An investment in this policy is subject to the risk of poor
performance and can vary depending on the performance of
the account allocation options available under the policy
(e.g., portfolios). Each such option (including the fixed
account) will have its own unique risks, and you should
review these options before making an allocation
decision. You can find the prospectuses and other
information about the portfolios at
dfinview.com/JohnHancock/TAHD/MVUL_Edge_U. |
Investment Risk/Risk of
Loss |
Insurance Company
Risks |
Your investment in the policy is subject to risks related to John
Hancock USA, including that the obligations (including
under the fixed account options), guarantees, or benefits
are subject to the claims-paying ability of John Hancock
USA. Information about John Hancock USA, including its
financial strength ratings, is available upon request
from your John Hancock USA representative. Our current
financial strength ratings can also be obtained by contacting the Service Office at 1-800-732-5543. |
Depositor
Registrant |
Policy Lapse |
Unless the Guaranteed Death Benefit feature is in effect, your policy
(or part of it) can terminate (i.e., “lapse”)
if the account value of your policy is insufficient to
pay the charges when due. This can happen as a result of
insufficient premium payments, poor performance of the
variable or general account options you have chosen, withdrawals, or
unpaid loans or loan interest. You will be given a grace
period within which to make additional premium payments
to keep the policy in effect. If lapse occurs,
you’ll be given the opportunity to reinstate the
policy by making the required premium payments and satisfying
certain other conditions. |
Lapse and Reinstatement |
RESTRICTIONS | ||
Investments |
There are restrictions that may limit the variable investment account
options and general account options (including the fixed
account) that you may choose, as well as limitations on
the transfer of account 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. In particular, your allocation options will be affected if you elect to
take a loan or receive benefits under certain supplementary benefit
riders.
Among other things, the policy also allows us to eliminate the shares
of a portfolio or substitute shares of another new or
existing portfolio, subject to applicable legal
requirements. |
Limitations on transfers
to or from a variable
investment account
Limitations on transfers
out of the fixed account Effect of Loans on Cash Value and Death Benefit Long-Term Care Acceleration Rider Portfolios |
Optional Benefits |
There are restrictions and limitations relating to optional benefits,
as well as conditions under which an optional benefit may
be modified or terminated by us. For example, certain
supplementary benefit riders may be subject to
underwriting, and your election of an option may result
in restrictions upon some of the policy benefits, including
availability of investment options. |
More About Certain Optional Benefits |
TAXES | ||
Tax Implications |
You should consult with a tax professional to determine the tax
implications of an investment in and payments received
under the policy. There is no additional tax benefit to
you if the policy is purchased through a tax-qualified
plan. If we pay out any amount of your account value upon
surrender or partial withdrawal, all or part of that
distribution would generally be treated as a return of the
premiums you’ve paid and not subjected to income tax, with any
portion not treated as a return of your premiums
includible in your income. Distributions also are subject
to tax penalties under some circumstances.
|
Tax Consequences of Owning a Policy |
CONFLICTS OF INTEREST | ||
Investment Professional
Compensation |
Some investment professionals may receive compensation for selling
the policy, including by means of commissions and revenue
sharing arrangements. These investment professionals may
have a financial incentive to offer or recommend this
policy over another investment. |
Commissions Paid to
Dealers |
Exchanges |
Some investment professionals may have a financial incentive to
offer you a new policy in place of the one you already
own, and you should only exchange your policy if you
determine, after comparing the features, fees, and risks
of both policies, that it is preferable for you to
purchase the new policy rather than continue to own the
existing policy. |
Commissions Paid to Dealers |
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 NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.66% |
6.48 |
1.67 |
2.40 |
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 long-term growth of
capital. |
American Global Growth Trust - Series I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.06%* |
22.12 |
13.20 |
9.17 |
To seek to provide growth of capital. |
American Growth Trust - Series I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
0.97%* |
37.99 |
18.24 |
13.94 |
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. |
American International Trust - Series I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.17%* |
15.39 |
4.44 |
3.02 |
To provide long-term growth of capital.
Current income is a secondary objective. |
Blue Chip Growth Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
|
0.77%* |
49.59 |
13.58 |
12.39 |
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 NAV
John Hancock Variable Trust Advisers
LLC/Jennison Associates LLC |
0.76%* |
52.95 |
18.07 |
14.18 |
To seek long-term capital appreciation. |
Capital Appreciation Value Trust - Series
NAV
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
|
0.89%* |
18.31 |
12.48 |
10.30 |
To seek total return consisting of income
and capital appreciation. |
Core Bond Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Allspring Global Investments, LLC
|
0.63%* |
5.89 |
1.11 |
1.74 |
To seek long-term growth of capital. |
Disciplined Value International Trust -
Series NAV
John Hancock Variable Trust Advisers
LLC/Boston Partners Global Investors,
Inc. |
0.79%* |
20.05 |
8.47 |
3.10 |
To seek long-term capital appreciation. |
Emerging Markets Value Trust - Series
NAV
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP |
1.03%* |
15.15 |
5.42 |
3.06 |
To provide substantial dividend income
and also long-term growth of capital. |
Equity Income Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
|
0.71%* |
9.52 |
11.15 |
7.88 |
To seek growth of capital. |
Financial Industries Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.89%* |
5.21 |
9.70 |
7.08 |
To seek long-term growth of capital. |
Fundamental All Cap Core Trust - Series
NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.71%* |
35.44 |
18.38 |
12.32 |
To seek long-term capital appreciation. |
Fundamental Large Cap Value Trust -
Series NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.73%* |
23.49 |
17.64 |
10.24 |
To seek long-term capital appreciation. |
Global Equity Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.89%* |
20.17 |
8.99 |
4.58 |
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 NAV
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
|
1.00%* |
4.26 |
10.56 |
10.94 |
To realize an above-average total return
over a market cycle of three to five years,
consistent with reasonable risk. |
High Yield Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Western Asset Management
Company, LLC |
0.81%* |
12.87 |
4.95 |
3.58 |
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 NAV
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP |
1.00%* |
13.59 |
7.06 |
4.27 |
To provide a high level of current income
consistent with the maintenance of
principal and liquidity. |
Investment Quality Bond Trust - Series
NAV
John Hancock Variable Trust Advisers
LLC/Wellington Management Company
LLP |
0.71%* |
6.57 |
1.41 |
2.00 |
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 NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.64% |
13.72 |
6.96 |
5.41 |
To seek a high level of current income
with some consideration given to growth
of capital. |
Lifestyle Conservative Portfolio - Series
NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.66%* |
9.18 |
3.68 |
3.34 |
To seek long-term growth of capital.
Current income is also a consideration. |
Lifestyle Growth Portfolio - Series NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.62% |
16.97 |
9.14 |
6.77 |
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
NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.65%* |
12.21 |
5.86 |
4.73 |
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 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 NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.76% |
12.00 |
4.67 |
3.86 |
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 NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.75% |
5.50 |
1.80 |
2.41 |
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 NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.79% |
13.81 |
5.25 |
3.76 |
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 NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.75% |
10.79 |
4.21 |
3.78 |
To seek long-term growth of capital. |
Mid Cap Growth Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Wellington Management Company
LLP |
0.90% |
18.87 |
12.39 |
9.79 |
Seeks to approximate the aggregate total
return of a mid cap U.S. domestic equity
market index. |
Mid Cap Index Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(North America) Limited |
0.41%* |
16.00 |
12.20 |
8.86 |
To seek long-term capital appreciation. |
Mid Value Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
|
0.96%* |
18.65 |
13.09 |
9.35 |
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
NAV
John Hancock Variable Trust Advisers
LLC/Wellington Management Company
LLP |
0.88%* |
8.21 |
2.72 |
2.22 |
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 achieve a combination of long-
term capital appreciation and current
income. |
Real Estate Securities Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Wellington Management Company
LLP |
0.76%* |
13.06 |
7.74 |
8.00 |
To seek long-term growth of capital.
Current income is incidental to the fund’s
objective. |
Science & Technology Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
|
0.99%* |
54.73 |
18.67 |
15.76 |
To seek income and capital appreciation. |
Select Bond Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.60%* |
6.15 |
1.39 |
1.92 |
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 NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.67%* |
3.87 |
0.51 |
0.66 |
Seeks to approximate the aggregate total
return of a small cap U.S. domestic equity
market index. |
Small Cap Index Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(North America) Limited |
0.48%* |
16.52 |
9.60 |
6.85 |
To seek long-term capital appreciation. |
Small Cap Opportunities Trust - Series
NAV
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP and
GW&K Investment Management, LLC
|
0.84%* |
18.12 |
13.99 |
7.92 |
To seek long-term capital appreciation. |
Small Cap Stock Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Wellington Management Company
LLP |
1.08%* |
16.31 |
11.18 |
7.43 |
To seek long-term capital appreciation. |
Small Cap Value Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Wellington Management Company
LLP |
0.99%* |
14.07 |
8.85 |
6.07 |
To seek long-term growth of capital. |
Small Company Value Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
|
1.16%* |
13.52 |
9.25 |
6.59 |
To seek a high level of current income. |
Strategic Income Opportunities Trust -
Series NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.74%* |
7.53 |
3.31 |
2.85 |
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 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 NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.25%* |
5.29 |
0.81 |
1.58 |
Seeks to approximate the aggregate total
return of a broad U.S. domestic equity
market index. |
Total Stock Market Index Trust - Series
NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(North America) Limited |
0.53%* |
25.58 |
14.44 |
10.78 |
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
NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC |
0.62%* |
4.74 |
1.61 |
1.09 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
The Portfolio seeks maximum real return
consistent with preservation of real
capital and prudent investment
management. |
PIMCO VIT All Asset Portfolio - Series
M
Pacific Investment Management
Company LLC/Research Affiliates, LLC |
2.49%* |
7.83 |
5.69 |
3.73 |
To seek to provide capital appreciation. |
TOPS® Aggressive Growth ETF - Class
2 ValMark Advisers, Inc./Milliman
Financial Risk Management, LLC |
0.54% |
17.37 |
10.55 |
7.42 |
To seek to provide income and capital
appreciation. |
TOPS® Balanced ETF - Class
2 ValMark Advisers, Inc./Milliman
Financial Risk Management, LLC |
0.55% |
11.39 |
6.39 |
4.51 |
To seek to preserve capital and provide
moderate income and moderate capital
appreciation. |
TOPS® Conservative ETF - Class
2 ValMark Advisers, Inc./Milliman
Financial Risk Management, LLC |
0.56% |
9.19 |
4.84 |
3.37 |
To seek to provide capital appreciation. |
TOPS® Growth ETF - Class
2 ValMark Advisers, Inc./Milliman
Financial Risk Management, LLC |
0.54% |
16.09 |
9.48 |
6.54 |
To seek to provide capital appreciation. |
TOPS® Moderate Growth ETF - Class
2 ValMark Advisers, Inc./Milliman
Financial Risk Management, LLC |
0.54% |
13.47 |
7.96 |
5.58 |