PROTECTION PROTECTION VUL. Taking the right steps in planning for the future CONSUMER GUIDE

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1 CONSUMER GUIDE PROTECTION PROTECTION VUL Taking the right steps in planning for the future JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK IM5237CG

2 There are many goals you want to achieve, and among those is security for your family. But you may also want to take advantage of other opportunities starting your own business or buying a vacation property, for instance. And what about paying for your children s education, planning for a comfortable retirement, or building an estate to pass on to your heirs? How do you make sure your money works hard enough to help secure these goals? Protection plus opportunity for growth. Now easier than ever. INSURANCE PRODUCTS: Not FDIC Insured Not Bank Guaranteed May Lose Value Not a Deposit Not Insured by Any Federal Government Agency

3 CONSUMER GUIDE Protection VUL 2 Helping you reach your goals Protection VUL 1 is an affordable, flexible premium variable universal life insurance policy that combines solid death benefit guarantees 2 with long-term cash value growth potential. All Protection VUL policies include a No-Lapse Guarantee (NLG) that protects the Base Face Amount coverage for 20 years. The duration of this guarantee is less at older issue ages. The standard NLG period may also be extended from one year up to age 90 by adding the optional Extended No-Lapse Guarantee (ENLG) rider, which is available at an additional cost. Protection VUL offers investment options that can be tailored to reflect your objectives and risk tolerance. They include a broad array of investment options that span almost every asset class and investment style. If you would prefer the ease and convenience of a single investment strategy that allows for immediate diversification, Protection VUL also offers the Lifestyle Portfolios, Pre-built Asset Allocation Options, a Money Market Portfolio 3 and a Fixed Account. There are risks associated with any investment, and it is possible to lose money by investing in the Lifestyle Portfolios or any other investment options. If you run a company, you may have concerns regarding the future of your business. Working with your financial professional, you can use this policy to help you with: Business continuation strategies Key executive protection Bonus plans Qualified and non-qualified retirement plans

4 3 CONSUMER GUIDE Protection VUL Tailored to your needs Protection Death Benefit Coverage Protection VUL provides a strong, income tax-favored death benefit that is available immediately for family or business protection needs. With proper planning, your benefici aries will receive the proceeds directly (without probate) on an income- and estate-tax-favored (under current law). 4 Guarantees No matter how your underlying investment options perform, you do not have to worry that your Protection VUL policy will lapse, as long as you meet the minimum requirements specified in your policy. The policy offers you a choice of No-Lapse Guarantees: A 20-Year No-Lapse Guarantee (NLG) of the policy s Base Face Amount is automatically included (duration of guarantee varies by issue age and is less at some older ages). Death benefit option changes, loans, withdrawals, rider termination or change, and/or face amount decreases will also affect the No-Lapse Guarantee duration and premium requirement. If you elect Supplemental Face Amount, this coverage is guaranteed for the first two policy years. 5 An optional Extended No-Lapse Guarantee (ENLG), available at an additional cost, lets you extend the standard NLG period up to a maximum of age 90. You must select the duration at issue, and once elected, it cannot be changed. To keep the ENLG rider in force, premiums must be invested in the Lifestyle Portfolios or one of the other investment options available with this rider. How the NLG Riders Work When you purchase a Protection VUL policy, the NLG and the optional ENLG riders guarantee the policy from lapsing even if the cash surrender value falls to zero or below as long as you satisfy the cumulative premium test, and any policy loans do not exceed the policy value. Your policy will satisfy the NLG and/or the ENLG cumulative premium tests if the sum of the premiums you ve paid to date (minus any policy loans and withdrawals) equals or exceeds the total NLG or ENLG monthly premiums due through the date of the test. If you pay the NLG/ENLG premium each year and do not take any loans or withdrawals, your policy is guaranteed to remain inforce for the entire NLG/ENLG period, regardless of your cash surrender value.

5 CONSUMER GUIDE Protection VUL 4 In the example below, the policy owner has paid the required cumulative NLG/ENLG premium, but the investment accounts have not performed well. Because he has met the cumulative premium requirement, however, his policy is guaranteed not to lapse. VALUES VALUES Based on Hypothetical Performance Based on Hypothetical Performance Guaranteed Death Benefit Guaranteed Death Benefit Premiums Paid = Cumulative ENLG Premium Requirement Investment Account Performance Premiums Paid = Cumulative ENLG Premium Requirement TIMEInvestment Account Performance TIME And even if the policy owner has not met the cumulative NLG/ENLG premium requirement, there is the option to catch up 6 to the premium requirement at any time before the policy lapses with no interest or penalty. VALUES VALUES Guaranteed Death Benefit Guaranteed Death Benefit Cumulative ENLG Premium Requirement Investment Account Performance Cumulative ENLG Premium Requirement Premiums Paid Premiums Paid Interest-Free Catch-Up Interest-Free Catch-Up Based on Hypothetical Performance Based on Hypothetical Performance TIMEInvestment Account Performance TIME Face amount increases are not available with the ENLG rider. Death benefit option changes, loans, withdrawals, rider terminations or changes, and/or face amount decreases will affect the NLG/ENLG premium requirement, and may cause the rider to terminate early.

6 5 CONSUMER GUIDE Protection VUL Efficiency Your life insurance policy gives you access to tools and expertise that help you to simplify the asset management process, and achieve your goals. Select from a broad array of invest ment options that span almost every asset class and investment style Benefit from the experience and knowledge of a broad selection of leading asset managers Choose the Lifestyle Portfolios, the Pre-Built Asset Allocation options, a Money Market Portfolio or the Fixed Account to diversify your investments and thereby reduce the market volatility that you might experience if you allocate your premiums to only one, or a limited number of investment options Convenience You can make tax-free transfers among investment choices and choose the specific investment options from which you want your monthly policy charges taken. You can also enjoy the convenience and control of such features as Dollar Cost Averaging 7 and automatic asset allocation rebalancing. Liquidity If you require income to supplement cash flow in retirement or help support a business, for example, you can take policy withdrawals and/ or loans. Partial withdrawals are factored into the cumulative premium test and will impact the NLG/ENLG calculations. Take into consideration that this will also lower your policy value and death benefit, and surrender charges may apply to a withdrawal in the first ten policy years. Flexibility There are a variety of ways to design your Protection VUL policy to meet your specific needs, including: Death Benefit Selection Choose your death benefit to be level, which means it will stay the same from year to year. Or, you can choose to have your death benefit increase any time your policy value increases. An increasing death benefit may be an attractive option if you have a growing family or business. Premium Payment Choices Within limits, you may vary your premium payments to fit your budget and objectives. For example, you can pay a level premium amount for lifetime, increase your payments to maximize your cash value accumulation, 8 or early fund your lifetime guarantee. (Of course, a certain minimum is required, and paying less will affect the status of your No-Lapse Guarantee.) 9 Growth The five diversified Lifestyle Portfolios are designed to eliminate the hassle and uncertainty of selecting investment options for your policy. Allocating net premiums to a Lifestyle Portfolio is designed to help reduce the market volatility that you might otherwise experience through the allocation of premiums to only one, or a small number of investment options. Or you may choose to invest in the Pre-built Asset Allocation options. These options are similar to the Lifestyle Portfolios in that they are diversified among asset classes and investment styles and are managed by some of the most respected names in the industry. They can be an alternative or addition to a Lifestyle Portfolio allocation. Additional investment accounts are available if you opt not to extend the policy s No-Lapse Guarantee (with the Extended No-Lapse Guarantee rider); they include alternative asset classes and securities.

7 Contact your financial advisor for more information and a personalized product illustration.

8 Strength. Stability. John Hancock. John Hancock s strong ratings, as judged by the major rating agencies, are a comprehensive measure of the company s financial strength and stability. This is important because these financial ratings reflect the life insurance company s ability to pay claims in the future. With over 150 years of experience, John Hancock offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents, and distribution partners. 1. Insurance policies and/or associated riders and features may not be available in all states. Some riders may have additional fees and expenses associated with them. Refer to the product prospectus for additional information. 2. Guaranteed product features are dependent upon minimum premium requirements and the claims-paying ability of the issuer. 3. An investment in the Money Market portfolio is not insured or guaranteed by the Federal Deposit Insurance Corporation, U.S. Government, or any other government agency. While not guaranteed, the portfolio intends to maintain, to the extent practicable, a constant per share NAV of $1.00. Certain market conditions may cause the return of the portfolio to become low or possibly negative. 4. Life insurance death benefit proceeds are generally excludable from the beneficiary s gross income for income tax purposes. There are a few exceptions such as when a life insurance policy has been transferred for valuable consideration. Comments on taxation are based on John Hancock s understanding of current tax law, which is subject to change. No legal, tax or accounting advice can be given by John Hancock, its agents, employees or registered representatives. Prospective purchasers should consult their professional tax advisor for details. 5. In policy year three and after, if the net cash surrender value falls to zero or below the Supplemental Face Amount may lapse unless you pay additional premiums. 6. The catch-up premium is the difference between the cumulative ENLG premium requirement and the net premiums paid. 7. Dollar Cost Averaging (DCA) does not assure a profit or protect against loss in declining markets. Since DCA involves continuous investments in securities regardless of fluctuating price levels of such securities, a purchaser must be willing to continue such purchases through periods of declining prices. 8. Be sure to consult with a tax advisor before you change the amount or frequency of premium payments, as there may be federal tax consequences. 9. In order to prevent your policy from lapsing, the minimum No-Lapse Guarantee premium must be met. At the end of the No-Lapse Guarantee period, the policy value may be insufficient to keep the policy inforce. Thereafter, premiums significantly higher than the No-Lapse Guarantee premium may be required to keep the policy inforce. If you pay only the premium to satisfy the No-Lapse Guarantee, you may be foregoing the advantage of building up significant policy value under this policy. Please contact to obtain product and fund prospectuses. (For New York, contact , option 4.) The prospectuses contain complete details on investment objectives, risks, fees, charges and expenses as well as other information about the investment company. Please read the prospectuses carefully containing this and other information on the product and the underlying portfolios and consider these factors carefully before investing. Product and/or product features may not be available in all states. Variable universal life insurance has annual fees and expenses associated with it in addition to life insurance related charges (which differ with the product chosen), including surrender charges and investment management fees. Variable universal life insurance products are long-term contracts and are sold by prospectus. They are subject to market risk due to the underlying sub-accounts, and are unsuitable as a short-term savings vehicle. The primary purpose of variable universal life insurance is to provide lifetime protection against economic loss due to the death of the insured person. Cash values are not guaranteed if the client is invested in the investment accounts. There are risks associated with each investment option, and the policy may lose value. The portfolios in the John Hancock Variable Insurance Trust described above are not retail mutual funds and are only available under variable annuity contracts, variable life policies or through participation in tax-qualified retirement plans. Although the portfolios investment adviser or subadvisers may manage retail mutual funds with similar names and investment objectives, no representation is made, and no assurance is given, that any portfolio s investment results will be comparable to the investment results of any other fund, including other funds with the same investment adviser or subadviser. Past performance is no guarantee of future results. The life insurance policy describes coverage under the policy, exclusions and limitations, what you must do to keep your policy inforce, and what would cause your policy to be discontinued. Please contact your licensed agent or John Hancock for more information, costs, and complete details on coverage. Availability of policies, features, and benefits may vary by state. The No-Lapse Guarantee (NLG) is automatically included with Protection VUL. The Extended No-Lapse Guarantee (ENLG) requires an additional cost. Both guarantee that your policy will not default, even if the cash surrender value falls to zero or below, as long as the NLG and/or ENLG cumulative premium test (performed at the point of lapse) is met. At the end of the ENLG period the policy value may be insufficient to keep the policy inforce. Thereafter, premiums significantly higher than the Extended No-Lapse Guarantee premium may be required to keep the policy inforce. If you pay only the premium to satisfy the ENLG, you may be foregoing the advantage of building up policy value. In Illinois the ENLG is called Death Benefit Protection. Loans, withdrawals, or the addition of Supplemental Coverage can result in the loss of the ENLG. Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY and securities offered through John Hancock Distributors LLC through other broker/dealers that have a selling agreement with John Hancock Distributors LLC, 197 Clarendon Street, Boston, MA Policy Form: 12PROVUL Rider Form Series: 12ENLGR MLINY /14