Supplement dated May 2, 2024
to the following statutory prospectus(es):
Monument Advisor NY and Monument Advisor Select NY dated May 1, 2024
This supplement updates certain information contained in your statutory prospectus. Please read and retain this supplement for future reference. |
At a meeting held on March 25-28, 2024, the Board of Trustees of the John Hancock Variable Insurance Trust approved the following with respect to the John Hancock Variable Insurance Trust – Emerging Markets Value Trust (the "Fund"), effective on or about May 29, 2024 (the "Effective Date"): (i) changes to the Fund’s sub-advisory arrangements such that Boston Partners Global Investors, Inc. will be the sole subadvisor to the Fund, (ii) a reduction in the Fund’s management fee schedule, and (iii) a change to the Fund’s name.
Accordingly, as of the Effective Date the statutory prospectus is amended as follows:
1. The following underlying mutual fund is offered as an investment option under the contract. The name of the investment option is updated as indicated below:
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John Hancock Variable Insurance Trust - Emerging Markets Value Trust: Series NAV |
John Hancock Variable Insurance Trust - Disciplined Value Emerging Markets Equity Trust: Series NAV |
2. Appendix A: More Information About the Investment Portfolios is amended and restated as follows:
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Underlying Mutual Fund and Adviser/ Subadviser |
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Low Cost Fund Platform Fee1 |
Current Expenses + Low Cost Fund Platform Fee |
Average Annual Total Returns (as of 12/31/2023) |
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John Hancock Variable Insurance Trust - Disciplined Value Emerging Markets Equity Trust: Series NAV (formerly, John Hancock Variable Insurance Trust - Emerging Markets Value Trust: Series NAV) Investment Advisor: John Hancock Variable Trust Advisers LLC Sub-Advisor: Boston Partners Global Investors, Inc. |
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*
This underlying mutual fund’s current expenses reflect a temporary fee reduction.
1
Reflects the current Low Cost Fund Platform Fee. The maximum Low Cost Fund Platform Fee applicable for any Sub-account is 0.35%.