| FEES AND EXPENSES | ||||
| Transaction Charges |
You may be charged for the following transactions:
A premium tax charge, a risk charge and a deduction for dividends will
be deducted from each premium paid.
A premium sales charge will be deducted during the period equal to the
lesser of 20 years or the anticipated life expectancy of
the insured person. If you select a premium payment mode other than annual, we will deduct a
premium payment frequency adjustment charge. An extra insurance risk charge may be deducted if the insured person
presents particular mortality risks. |
FEE TABLE
Deductions from premium
payments
Deductions from account
value | ||
| Ongoing Fees and
Expenses (annual charges) |
In addition to transaction charges, you will also be subject to certain
ongoing fees and expenses, including a charge of $50 in
each policy year to help defray our annual administrative
expenses, a monthly insurance charge for the cost of
insurance, a daily M&E charge for mortality and expense risks we assume and supplementary benefit rider charges. Some of these fees and
expenses are based wholly or in part on the characteristics of the
insured person (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% |
0.78% | ||
| RISKS | ||
| Risk of Loss |
You can lose money by investing in this policy. |
PRINCIPAL RISKS OF
INVESTING IN THE
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
sales charge and premium tax 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 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/APVL_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 , 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 |
Any amount of premium required to keep the policy in force is in
default if not paid on or before its scheduled due date,
but the policy provides a 31-day grace period for the
payment of each such amount. If a default is not cured
within a 31-day grace period, your policy will terminate
(i.e., “lapse”). You can apply to reinstate a policy that has lapsed, subject to conditions that include payment of a specified
amount of additional premiums. Since withdrawals reduce your account value, withdrawals increase
the risk of lapse. Loans also increase the risk of lapse
|
Lapse and Reinstatement |
| RESTRICTIONS | ||
| Investments |
There are restrictions that may limit the variable investment account
options that you may choose, as well as limitations on
the transfer of account value among those options. In
particular, your allocation options will be affected if
you elect to take a loan. 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 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. |
Transfer of Account
Value
Availability of Loans,
Limitations and Interest
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. |
OTHER BENEFITS AVAILABLE UNDER THE POLICY |
| 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 held 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.
|
TAXES |
| 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 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 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 |
| 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 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 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 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 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 |