Sales Strategy Life Insurance in Retirement Planning Plus

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1 Sales Strategy Life Insurance in Retirement Planning Plus Life insurance protection is the foundation of a family s future, providing cash to: replace income for surviving family, pay off family debt, or complete an education fund in the event of the premature death of a family s breadwinner. While managing current protection needs and expenses, families also are concerned about saving more for retirement considering how much income current assets will generate and how much of that income will be consumed by taxes and inflation. Life Insurance in Retirement Planning (LIRP) Plus is a supplemental planning approach families can use to be efficient with funding both their current protection needs and potentially saving more for retirement in the process. LIRP Plus demonstrates how the efficiency of a cash value life insurance policy that provides valuable taxfree death benefit protection for a growing family during an insured s working years can also be designed so that the potential cash values in the policy generate taxfavored income at retirement to help fund a retirement income shortfall. Fortunately, a permanent life insurance policy can also build a cash value account over time, based on premiums paid into the policy. Once life insurance that matches a family s death benefit need has been secured, that same policy can serve as a potential source of supplemental income should the insured experience an income shortfall at retirement and may no longer need as much death benefit protection. A cash value life insurance policy can also provide additional benefits based on features that are added to the policy when it is first purchased. For example, a valuable disability rider may be included in the life insurance policy to pay premiums during a period of extended disability. And for help with long-term care expenses, a rider may be added to a life insurance contract when purchased to accelerate the death benefit during lifetime. There are additional costs associated with such riders and benefits are subject to restrictions and limitations. When the policy death benefit is accelerated for long-term care expenses it will be reduced dollar for dolar, and the cash value is reduced proportionately. Advanced Markets Sales Strategy Life Insurance in Retirement Planning Plus The first and foremost feature of a permanent (or cash value) life insurance policy is the death benefit it provides. The death benefit brings self-completion to financial goals in the form of cash to compensate for loss of continued contributions and earnings, so it is crucial to decide the appropriate levels of death benefit protection a family needs and can fund. 1

2 Take a look at an example on how effective LIRP Plus potentially can be: CASE STUDY, age 40, is a Director of Graphic Design at a major marketing agency. She and her husband have two children and Lily has just returned to the workforce after the birth of her second child. Lily and her husband are in the process of planning for their protection and retirement needs now that they have a growing family. At the moment they are looking at Lily s needs. She expects her salary and her lifestyle costs to increase approximately 2% annually. Lily s current life insurance need, based on daycare costs, mortgage and college funding objectives, is approximately $1,100,000. Lily is making contributions to her 401(k) retirement plan sponsored by her employer. Her current 401(k) balance is $147,000 and between her contributions and her employer match, she is contributing $22,000 annually. She also wants to save more so she has been contributing $6,500 annually to her personal savings accounts, including mutual fund accounts. Her current total savings balance is $25,000, growing at 2% annually. She also assumes that she will benefit from social security retirement income she estimates will be $24,000 annually. She wants to retire at age 65 and hopes to have roughly $150,000 in net annual retirement income adjusted by 1.5% for inflation. Based on her life insurance needs, and after compiling Lily s financial information and planning objectives, Lily s insurance advisor illustrates for Lily her potential retirement income shortfall. Her advisor discusses the various options she has to save more and explains that by being efficient with her life insurance coverage, she may be able to provide life insurance protection while saving more for retirement. Her advisor discusses the different types of cash value policies available and helps Lily to assess her risk tolerance, especially if she decides to purchase a variable universal life insurance policy. Lily learns that variable universal life insurance is cash value life insurance and that by purchasing a variable policy she would be investing her premium payments in underlying investment accounts. Lily can choose from a list of available funds the policy offers based on her investment objectives and level of tolerance for risk. Lily learns that there are risks associated with investing in these accounts as outlined in the policy prospectus her advisor provided her. Lily considers that, depending on the performance of the investment accounts underlying her life insurance policy, the cash values available for loans and withdrawals at retirement may be worth more or less than what premiums she paid into the policy. She also learns that additional premiums may be required to keep the policy in force at any given period of time depending on the underlying performance of the funds. She likes the idea of being able to take withdrawals from the policy up to her total premiums paid on a tax-free basis and understands that if she takes further distributions from the policy in the form of loans, the distributions will be tax free but her death benefit will be decreased by the loan value. Lily s insurance advisor illustrates a John Hancock Accumulation VUL policy growing at an assumed 6.14% net rate after taxes and fund expenses. Assuming the policy earns this rate annually, the premium on a $1,125,750 death benefit is $31,290 for 25 years or to her retirement age 65. The policy is designed so that the death benefit increases every year in keeping with any increases in cash values until her age 65. Then at age 66, Lily can begin to take tax-free withdrawals and loans of $91,000, indexed by 1.5% inflation annually until age 100. A snapshot of Lily s current and projected savings at retirement (age 65) is as follows: 2

3 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 subaccounts, 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. POLICY DETAILS Product: Accumulation VUL 09 Initial Premium: $31,290 Insured:, Female, Age 40, Preferred Non Smoker Initial Death : $1,125,750 Desired Retirement Income: $150,000 adjusted for inflation by 1.5% POTENTIAL INCOME ANALYSIS Today Qualified Plan Balance $147,000 Ongoing Contributions $22,000 Assumed Growth Rate 7.0% Non-Qualified Savings Balance $25,000 Ongoing Contributions $6,500 Assumed Growth Rate 2.0% Other Expected Retirement Income $24,000 At Retirement Age 65 Qualified Plan Balance: $2,286,715 After-Tax Withdrawals available for 35 years $83,731 Non-Qualified Savings Balance: $253,376 After-Tax Withdrawals available for 35 years $7,860 Other Expected Retirement Income $34,823 Total Projected Retirement Income $126,414 Income Analysis at Retirement Desired Retirement Income ($150,000 adjusted for 1.5% inflation) $217,642 Projected Income From Existing Assets $126,414 Potential Shortfall $91,228 Potential Life Insurance Distributions $91,000 A summary of the life insurance values are as follows: John Hancock Accumulation Variable Universal Life 6.14% net of investment advisory fees and current charges Age (End of year) Premium After-Tax Withdrawals & s cash Surrender Death 1 41 $31,290 $13,823 $1,152, $31,290 $375,042 $1,500, $31,290 $1,082,291 $2,208, $31,290 $1,624,043 $2,628, $91,000 $1,627,419 $2,537, $96,583 $1,629,942 $2,159, $104,048 $1,604,648 $1,694, $112,089 $1,527,142 $1,644,263 Potential Retirement Income with Life Insurance $217, $120,752 $1,367,989 $1,515,241 This is a supplemental illustration authorized for distribution only when preceded or accompanied by a basic illustration showing the arithmetic average of investment management fees and expenses. The data shown is taken from an illustration, the purpose of which is to show how the performance of the underlying investment accounts could affect the policy cash value and death benefit. It assumes a hypothetical rate of return and/or current interest crediting rate and may not be used to project or predict investment results. Unless indicated otherwise, these values are not guaranteed. This illustration assumes that withdrawals taken are up to cost basis and loans are taken thereafter. See basic illustration for a breakdown of loans and withdrawals in any given year. The gross rate of return assumed in this example is a hypothetical 7.0%. The net rate of return is based on an arithmetic average of fees for all fund offerings in the John Hancock Accumulation VUL policy. Actual Advisory fees will be based on the particular funds chosen. 3

4 HOW IT WORKS AT RETIREMENT SUMMARY IN YEAR 24 Premium of $31,290 $217,414 Potential Retirement Income $91,000 Potential aftertax withdrawals of $91,000 a year for 35 years beginning at age 66. John Hancock : Initial Face $1,125,750 Proceeds at Death Income-Tax-Free Death To Heirs at age 65: $2,628,166 $0 $126,414 $126,414 Current Proposed Income from Qualified Plan Potential Income from Life Insurance This is a supplemental illustration authorized for distribution only when preceded or accompanied by a basic illustration showing the arithmetic average of investment management fees and expenses. The data shown is taken from an illustration, the purpose of which is to show how the performance of the underlying investment accounts could affect the policy cash value and death benefit. It assumes a hypothetical rate of return and/or current interest crediting rate and may not be used to project or predict investment results. Unless indicated otherwise, these values are not guaranteed. This illustration assumes that withdrawals taken are up to cost basis and loans are taken thereafter. See basic illustration for a breakdown of loans and withdrawals in any given year. BENEFITS A life insurance policy s death benefit is generally income tax free. Exceptions include when a life insurance policy has been transferred for valuable consideration. The death benefit can help protect a family s income needs in the event of premature death. The life insurance death benefit can facilitate selfcompletion for financial plans, providing survivors with cash to compensate for the loss of planned contributions and earnings. The policy s death benefit or cash values are potentially protected from the claims of creditors, depending on the state in which the contract is issued. The cash values of a life insurance policy grow tax deferred, and tax-free withdrawals are permitted when structured properly. CONSIDERATIONS Additional expenses The purchase of life insurance has costs and risks associated with it, including the cost of insurance. Refer to the Product Client Guide for information regarding specific product costs and risks. Charges associated with variable life insurance, including withdrawal charges, are usually higher than those associated with Roth and traditional IRAs. Additional taxes may result If the design of the variable life insurance policy does not meet the requirements of life insurance in the Internal Revenue Code, it will be classified as a modified endowment contract (MEC). Withdrawals and loans from a MEC may be subject to tax at the time the withdrawal or loan is made. A federal tax penalty may also apply if the withdrawal or loan is taken from a MEC prior to age 59½. 4

5 Potential taxation of life insurance cash values Withdrawals from a life insurance policy may be subject to income taxes after withdrawals exceed cost basis. Increases in cash values grow tax deferred and may not be subject to taxes until withdrawn. However, the cash values of the life insurance are not subject to the same funding and distribution limitations applicable to qualified plans, and Roth and traditional IRAs. And, the beneficiaries of a life insurance policy generally receive the death benefit free of income taxes. Potential lapse of the contract Withdrawals and loans also have the effect of reducing the death benefit and cash surrender value and may cause the policy to lapse. Lapse of a life insurance policy can cause the loss of the death benefit and potential adverse income tax consequences. Additional risk Purchasing variable life insurance also involves investing in underlying investment accounts that correspond to a policholder s investment objectives and level of risk tolerance. There are risks associated with investing in these accounts. For more information, please refer to the policy prospectus. Depending on the performance of the underlying investment accounts, the cash values available for loans and withdrawals may be worth more or less than your original investment amount. Additional premiums may be required to sustain the policy. 5

6 This material does not constitute tax, legal or accounting advice and neither John Hancock nor any of its agents, employees or registered representatives are in the business of offering such advice. It was not intended or written for use and cannot be used by any taxpayer for the purpose of avoiding any IRS penalty. It was written to support the marketing of the transactions or topics it addresses. Comments on taxation are based on John Hancock s understanding of current tax law, which is subject to change. Anyone interested in these transactions or topics should seek advice based on his or her particular circumstances from independent professional advisors. 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. Insurance policies and/or associated riders and features may not be available in all states. 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 10595; 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 IM /11 MLINY Form Number: 09ACCVUL INSURANCE PRODUCTS: Not FDIC Insured Not Bank Guaranteed May Lose Not a Deposit Not Insured by Any Government Agency

7 Valuable Information About Your Life Insurance Illustration The purpose of this illustration is to show how the performance of the underlying investment account could affect the policy surrender value and death benefit. This illustration is hypothetical and may not be used to predict or project actual performance. This illustration has been personalized for your particular objectives. This is an illustration, not a contract and must be preceded or accompanied by a current prospectus. The prospectus contains complete details on investment objectives, risks, fees, charges and expenses as well as other information about the investment company which should be carefully considered. Please read the prospectus carefully containing this and other information on the product and the underlying portfolios and consider these factors carefully before investing. All surrender values and death benefits are shown as of the end of the year unless noted. Death Option 2 The Death illustrated is the Base Face plus the plus any Required Additional Death. Starting in year 25 the death benefit illustrated is the Base Face plus any Required Additional Death. s and withdrawals will reduce the policy death benefit. The net death benefit reflects total loan plus any loan interest due. Required Additional Death The Death will automatically be increased if necessary to maintain the minimum amount of insurance needed to comply with current federal tax law (Section 7702 of the Internal Revenue Code). This will ensure that your policy maintains the favorable tax treatment associated with being a life insurance policy. Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In 25 Assuming Current Charges and an Initial Gross Rate of 7.00% ( 6.14%) No-Lapse Guarantee Cumulative Premium Test is met. During the No-Lapse Guarantee Period, if the Surrender falls to zero or below, coverage will continue if the cumulative premiums paid since the policy was issued, net of withdrawals, net of Debt, are greater than or equal to $4, multiplied by the number of years coverage has been in effect. There is no additional charge for the No-Lapse Guarantee included in your policy. Rider termination or change and or face amount increases or decreases may cause this premium to be recalculated. If a policy loan is outstanding and the falls to zero, the illustration will stop. In the first two policy years, the Supplemental Face plus the Return of Premium Death Rider, if elected, will remain in force provided the No-Lapse Guarantee Cumulative Premium Test is satisfied. In policy year three and after, if the Surrender falls to zero or below, you must pay additional premiums. If you do not pay additional premiums, the Supplemental Face plus the Return of Premium Death Rider, if elected, may lapse even if your Base Face does not lapse. If increasing Supplemental Face or the Return of Premium Death Rider is elected, the Base Face and the Supplemental Face plus the Return of Premium Death Rider will remain in force for the first two policy years, provided the No-Lapse Guarantee Cumulative Premium Test is satisfied. In policy year three and after, if the Surrender falls to zero or below, your policy will lapse. Assumed Gross Rate Assumed rates are hypothetical and may not represent past or future actual performance. Actual investment rates of return may be higher or lower than those No-Lapse Guarantee illustrated and will fluctuate in response to changing The No-Lapse Guarantee (NLG) illustrated ensures the market conditions and the subaccount allocation Base Face will stay in force for 20 years chosen. In determining the net rate, this illustration regardless of actual investment returns provided the assumes 0.86% average total portfolio annual No-Lapse Guarantee Cumulative Premium Test is met. expenses based on an arithmetic average of all THIS During IS the AN ILLUSTRATION No-Lapse Guarantee ONLY AND Period, IS NOT if the INTENDED TO PREDICT available ACTUAL funds PERFORMANCE. offered as investment options. VALUES Surrender SET FORTH falls IN to THE zero ILLUSTRATION or below, coverage ARE NOT will GUARANTEED Investment UNLESS LABELED fees vary AS by SUCH. portfolio(s) selected. For continue if the cumulative premiums paid since the further detail on the investment advisory fee, see the policy was issued, net of withdrawals, net of prospectus for each of the underlying portfolios offered Debt, Version: are 6.3R[ ] greater than or equal to $4, multiplied Page as 1 of investment 13 options. This hypothetical 09/08/2010 illustration 12:15:41 PM by the number of years coverage has been in effect. does not reflect investment, if any, in the Fixed Account.

8 Valuable Information About Your Life Insurance Illustration (cont'd) expenses based on an arithmetic average of all available funds offered as investment options. Investment fees vary by portfolio(s) selected. For further detail on the investment advisory fee, see the prospectus for each of the underlying portfolios offered as investment options. This hypothetical illustration does not reflect investment, if any, in the Fixed Account. Each of the Lifestyle funds is a "fund-of funds" that invest in other underlying funds. To maintain target allocations for each Lifestyle fund, the underlying funds may be rebalanced periodically. The "Total Portfolio Expenses" for each Lifestyle fund listed below include fees and expenses incurred indirectly as a result of its investment in these underlying funds and are based on target allocations as of May 3, Underlying Fund Fees and Expenses are estimated, not actual, amounts are based on the current fiscal year for the Lifestyle funds. Premiums This illustration assumes that planned premiums are paid at the beginning of each modal period indicated. Based on the following assumptions in this illustration, additional premiums would be required to maintain policy benefits starting in the specified year: Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In 25 Assuming Current Charges and an Initial Gross Rate of 7.00% ( 6.14%) assessed in all years, current and guaranteed. Base Face Charge Base Face Charge is a charge per $1,000 of Base Face per policy month. It will be deducted for the first 10 policy years. A separate per $1,000 Base Face Charge will be deducted for the first 10 policy years of any face increase. This charge varies by age, sex, risk class, death benefit option and policy year. Cost of Insurance Current insurance charges are based on company experience. The current rates may change, but are guaranteed never to exceed the maximum rates. Maximum rates reflect the 2001 CSO Mortality Table. Asset Based Risk Charge A charge to cover the risk of adverse mortality and expense is deducted monthly from the. The charge is assessed on the portion of your allocated to variable investment options. The current Asset Based Risk Charge is 0.00% for all policy years. The Guaranteed Asset Based Risk Charge is 0.30% for all policy years. Assumptions Maximum Charges/7.00% Gross Rate 46 Maximum Charges/0.00% Gross Rate 30 Payments in excess of the planned premiums are subject to underwriting approval. Premium Charge Premium Charge of 8% of premium will be deducted from each premium payment in year one. A Premium Charge of 4% of premium will be deducted from each premium payment in subsequent years, current and guaranteed. Asset Credit We may add a percentage of the portion of your allocated to variable investment options as a monthly credit to that account. This credit is not guaranteed. The Asset Credit percentages are % per month, s 1-10 and % thereafter. Gain or Loss/Interest Credited This is the investment gain/loss on the based on the rate of return of your policy's investment options selected or the interest credited on the Fixed Account, including the amount of interest credited on the Account. Monthly Administrative Charge Monthly Administrative Charge of $10.00 will be assessed in all years, current and guaranteed. Page 2 of 13

9 Valuable Information About Your Life Insurance Illustration (cont'd) The is the total dollar value of all investment accounts held in the policy and/or the Fixed Account, plus the value of any Account. Withdrawals Withdrawals reduce the and the Death. Withdrawals, if illustrated, are assumed taken at the beginning of each month during the year. A withdrawal made during the Surrender Charge Period will result in the assessment of a pro-rata portion of the Surrender Charge to which the policy is subject. The portion of the Surrender Charge assessed will be based on the ratio of the amount of the withdrawal to the Cash Surrender of the as of the date of the withdrawal. s loans may be taken against at any time and if illustrated, are assumed to be taken at the beginning of each month during the year. The maximum loan amount available is the greater of a) 90% of the Surrender less any indebtedness and b) the Surrender less any indebtedness and less policy charges and loan spread projected to the end of the policy year. This illustration assumes a policy loan interest rate of 4.25 % in years 1-10, 3.00 % thereafter (guaranteed not to exceed 4.25% in years 1-10, 3.25% thereafter). Interest is currently credited to the Account at an interest rate of 3.00% in all years. This rate is guaranteed. The loan interest rate is fixed. interest is payable in arrears. Interest This is the interest charged on the outstanding Debt. In the event that you do not pay the loan interest charged in any, it will be borrowed against the policy and added to the Debt in arrears at the Anniversary. Surrender The Surrender is the amount available at the end of each year and reflects all applicable charges. This amount is shown net of withdrawals and total loan plus interest due. During the first ten policy years there is a Surrender Charge assessed if all or part of the Base Face is reduced. If the policy terminates for any reason, the amount of any outstanding loan (that was not previously considered income) could result Version: in 6.3R[ ] a considerable tax. Under certain situations involving large amounts of outstanding loans, you might Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In 25 Assuming Current Charges and an Initial Gross Rate of 7.00% ( 6.14%) is a Surrender Charge assessed if all or part of the Base Face is reduced. If the policy terminates for any reason, the amount of any outstanding loan (that was not previously considered income) could result in a considerable tax. Under certain situations involving large amounts of outstanding loans, you might find yourself having to choose between high premium requirements to keep your policy from lapsing and a significant tax burden if you allow the lapse to occur. Please consult your tax advisor for further information. s/riders This illustration may include optional additional benefits or insurance riders on the insured. There may be charges for additional benefits or riders deducted from the. The amount and timing of these charges varies by the benefit or rider elected. Overloan Protection Rider The Overloan Protection Rider will prevent your policy from lapsing when, on any policy month, the outstanding indebtedness on the policy equals or exceeds the multiplied by a certain percentage, not to exceed 95%. Exercise of this rider will result in a "paid up" status. In order to be eligible for this rider, the insured must be at least 75 years old and the policy must have been inforce for at least 15 years. In order for the rider to be invoked, the Indebtedness must exceed the Total Face of your policy but be less than minus a one-time charge for exercising the rider. Upon the execution of this rider, a Level Death will apply to your policy. After deduction of a one-time charge, all unloaned policy value will be transferred to the Fixed Account at the current Fixed Account rate, where the guaranteed rate is not less than 3%. No additional policy transactions or policy changes will be allowed and no further monthly deductions will be taken. Your total Death will now be equal to the Total Face plus any Required Additional Death less any indebtedness. This rider may not be available in all states. Continuation at Age 100 Page 3 of 13

10 Valuable Information About Your Life Insurance Illustration (cont'd) This offers protection from the possibility of outliving coverage. Provided your coverage is in effect on the policy anniversary nearest the date on which the Life Insured reaches attained age 100, coverage will continue after age 100. The will continue to reflect the investment performance of the chosen subaccounts. No additional charges, other than those for any outstanding policy loans, will be deducted. At and after age 121, any Supplemental Face coverage will cease. It should be pointed out that the tax implications with respect to policies that continue beyond age 100 are not clear at the present time. We urge you to consult your tax advisor regarding this issue if there are questions about what happens after age 100. Face Change Illustrated values assume that any face amount changes occur as illustrated. Any face amount increases which require evidence of insurability at the time the change is completed may result in a different risk classification than shown in this illustration. A new surrender charge will accompany face amount increases. A new premium, if applicable, No-Lapse Guarantee Premium, if applicable, will be calculated based on the, change in face amount and insured s attained age at time of the change. You will be advised of the new premiums. If you decrease the Base Face during the Surrender Charge period, and the total amount of all decreases is in excess of the Surrender Charge Decrease Exemption, we will deduct a pro-rata Surrender Charge from the on the portion by which the total of such decreases exceeds the Surrender Charge Decrease Exemption. The Surrender Charge Decrease Exemption is 10% of the original Base Face. The Surrender Charge Decrease Exemption is set at issue of the policy and applies to decreases in the Base Face of insurance. (This does not include any Supplemental Face.) Taxation of Life Insurance The information contained in this illustration is based on certain tax and legal assumptions. We suggest that you seek professional counsel regarding the interpretation of current tax laws and accounting practices as they relate to your actual situation. The Technical and Miscellaneous Revenue Act (TAMRA) of 1988 classifies Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In 25 Assuming Current Charges and an Initial Gross Rate of 7.00% ( 6.14%) seek professional counsel regarding the interpretation of current tax laws and accounting practices as they relate to your actual situation. The Technical and Miscellaneous Revenue Act (TAMRA) of 1988 classifies some policies as Modified Endowment Contracts (MECs). Distributions from these policies (excluding Death s but including policy loans and withdrawals) are taxed differently and may be subject to an IRS 10% penalty tax. TAMRA testing has been performed on the current scale only. The initial annual 7-pay premium for this policy is $40, Based on our interpretation of TAMRA, this policy as illustrated would not be considered a Modified Endowment Contract (MEC). Employer-owned Life Insurance. Where the owner of the policy is the employer of the insured, Section 101(j) of the Internal Revenue Code specifies a number of requirements in order for life insurance death benefits to be excluded from income taxation. Potential insureds must be limited to the employer s directors and "highly compensated" employees (as defined by the law). Also, before the issuance of the policy, the potential insured must (1) be notified in writing that the employer/policyowner intends to insure the employee's life and the maximum face amount for which the employee could be insured; (2) give his or her written consent to being a life insured under the policy, and agree that such coverage may continue after the life insured terminates employment; and (3) be informed in writing that the employer/policyowner will be a beneficiary of any proceeds payable upon the death of the employee. Finally, the policyowner is required to keep records and make an annual report concerning its employer-owned life insurance policies. Taxpayers should seek the counsel of qualified tax advisors to determine the applicability of IRC 101(j) or other provisions of federal tax law and/or compliance with the requirements of any such law or regulation. Other Considerations Accumulation VUL is issued by John Hancock Life Insurance Company (U.S.A.) of Boston, MA and distributed by John Hancock Distributors LLC some Version: policies 6.3R[ ] as Modified Endowment Contracts (MECs). Distributions from these policies (excluding Death s but including policy loans and Page 4 of 13

11 Valuable Information About Your Life Insurance Illustration (cont'd) through other broker dealers appointed by John Hancock Distributors LLC,197 Clarendon Street, Boston, MA John Hancock Life Insurance Company (U.S.A.) consistently receives high financial strength ratings from independent rating agencies such as Fitch Ratings, A.M. Best, Standard & Poors, and Moody's. These ratings do not apply to the safety and performance of separate accounts. For more information, please visit our website at Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In 25 Assuming Current Charges and an Initial Gross Rate of 7.00% ( 6.14%) John Hancock Life Insurance Company (U.S.A.) is committed to offering the highest quality Annuity, Life Insurance and Pension products to our clients. Its family of products has been built around a powerful combination of investment options chosen with the goal of providing attractive, risk adjusted returns and broad diversification across asset classes, investment styles and asset managers. With John Hancock Life Insurance Company (U.S.A.)'s broad product lines, competitive underwriting, excellent ratings and quality customer service, John Hancock Life Insurance Company (U.S.A.) is committed to providing quality products designed to help create and preserve wealth for clients. Page 5 of 13

12 Basic Illustration Summary Coverage Summary Initial Initial Coverage Description Premium Base Face - Level for all years $1,125,750 $31, Additional Coverage On Insured Overloan Protection Rider Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In 25 Assuming Current Charges and an Initial Gross Rate of 7.00% ( 6.14%) Summary State California Death Option 2 From 1 Thru 24 1 From 25 Thru 81 Definition of Life Insurance GPT Payment Mode Distribution Mode Monthly Charges Current Assumed Gross Rate 7.00% From 1 Thru 81 Interest Rate 4.25% 3.00% From 1 Thru 10 From 11 Thru 81 Owner Tax Bracket 35.00% From 1 Thru 81 Initial 7-Pay Premium Target Premium $40, $13, Minimum Initial Premium $ Yr. No-Lapse Guarantee Premium $4, Initial Guideline Premium $31, Initial Guideline Single Premium $166, If elected on the Coverage Details form. AVUL09 Page 6 of 13

13 Detailed s Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In 25 Assuming Current Charges and an Initial Gross Rate of 7.00% ( 6.14%) EOY Age Planned Premium Withdrawal Interest Outlay , ,290 27,220 13,823 1,152, , ,290 57,394 43,997 1,183, , ,290 89,362 75,965 1,215, , , , ,787 1,249, , , , ,065 1,285, , , , ,013 1,323, , , , ,074 1,364, , , , ,667 1,407, , , , ,431 1,452, , , , ,042 1,500,792 Totals: 312, ,900 Surrender Death , , , ,744 1,554, , , , ,664 1,611, , , , ,992 1,671, , , , ,928 1,735, , , , ,687 1,803, , , , ,498 1,875, , , , ,611 1,951, , , , ,288 2,032, , , , ,732 2,117, , ,290 1,082,291 1,082,291 2,208,041 Totals: 625, , , ,290 1,178,263 1,178,263 2,304, , ,290 1,280,031 1,280,031 2,405, , ,290 1,387,954 1,387,954 2,513, , ,290 1,502,416 1,502,416 2,628, , ,290 1,624,043 1,624,043 2,628, , ,000 1,627,419 1,627,419 2,537, , ,365 1,629,758 1,629,758 2,444, , ,750 1,631,000 1,631,000 2,351, , ,156 1,631,083 1,631,083 2,255, , ,583 1,629,942 1,629,942 2,159,312 Totals: 782, , ,396 Page 7 of 13

14 Detailed s (cont'd) Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In 25 Assuming Current Charges and an Initial Gross Rate of 7.00% ( 6.14%) EOY Age Planned Premium Withdrawal Interest Outlay , ,032 1,627,966 1,627,966 2,061, , ,502 1,624,522 1,624,522 1,961, , ,995 1,619,545 1,619,545 1,860, ,867 87, ,510 1,701,851 1,612,980 1,757, ,276 1, ,048 1,801,917 1,604,648 1,694, ,958 4, ,609 1,904,794 1,594,290 1,689, ,819 7, ,193 2,010,305 1,581,558 1,682, ,850 11, ,801 2,118,433 1,566,263 1,672, ,055 14, ,433 2,229,152 1,548,198 1,659, ,441 18, ,089 2,342,427 1,527,142 1,644,263 Totals: 782, , ,043 57, ,816 Surrender Death ,012 22, ,770 2,458,209 1,502,856 1,625, ,776 26, ,477 2,576,442 1,475,083 1,603, ,738 30, ,209 2,697,053 1,443,548 1,578, ,904 34, ,967 2,819,956 1,407,954 1,548, ,282 39, ,752 2,945,056 1,367,989 1,515, ,876 44, ,563 3,072,237 1,323,312 1,476, ,696 49, ,401 3,201,367 1,273,561 1,433, ,747 54, ,267 3,332,293 1,218,343 1,384, ,038 59, ,161 3,464,845 1,157,242 1,330, ,575 65, ,083 3,598,829 1,089,810 1,269,752 Totals: 782, ,250 2,437, ,220-1,953, ,366 71, ,034 3,734,027 1,015,568 1,164, ,421 77, ,015 3,871, ,177 1,051, ,747 83, ,025 4,010, , , ,351 90, ,065 4,152, , , ,245 97, ,136 4,297, , , , , ,238 4,444, , , , , ,372 4,593, , , , , ,538 4,742, , , , , ,736 4,891, , , , , ,967 5,041,179 29,034 29,034 Totals: 782, ,250 4,868,187 1,501,595-3,366,592 Page 8 of 13

15 Detailed s (cont'd) Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In 25 Assuming Current Charges and an Initial Gross Rate of 7.00% ( 6.14%) EOY Age Planned Premium Withdrawal Interest Outlay , , ,193,326 30,817 30, , , ,350,094 32,709 32, , , ,511,624 34,717 34, , , ,678,062 36,849 36, , , ,849,561 39,111 39, , , ,026,276 41,513 41, , , ,208,368 44,061 44, , , ,396,003 46,767 46, , , ,589,351 49,638 49, , , ,788,590 52,686 52,686 Totals: 782, ,250 6,539,713 3,173,121-3,366,592 Surrender Death , , ,993,902 55,921 55, , , ,205,475 59,355 59, , , ,423,503 62,999 62, , , ,648,187 66,867 66, , , ,879,732 70,973 70, , , ,118,352 75,331 75, , , ,364,268 79,956 79, , , ,617,707 84,865 84, , , ,878,903 90,076 90, , , ,148,099 95,606 95,606 Totals: 782, ,250 8,788,827 5,422,235-3,366, , , ,425, , , , , ,711, , , , , ,006, , , , , ,309, , , , , ,623, , ,790 Totals: 782, ,250 10,188,660 6,822,067-3,366,592 Page 9 of 13

16 John Hancock Life Insurance Company (U.S.A.) Summary of s EOY Age Planned Premium Income , ,124 1,150,271 12,985 1,152,131 13,823 1,152, , ,508 1,175,655 42,133 1,181,279 43,997 1,183, , ,486 1,200,633 72,861 1,212,008 75,965 1,215, , ,668 1,225, ,867 1,244, ,787 1,249, , ,860 1,249, ,048 1,278, ,065 1,285, , ,165 1,273, ,600 1,314, ,013 1,323, , ,892 1,296, ,934 1,352, ,074 1,364, , ,271 1,318, ,382 1,392, ,667 1,407, , ,815 1,341, ,562 1,433, ,431 1,452, , ,983 1,362, ,047 1,477, ,042 1,500,792 Totals: 312,900 0 Surrender Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In % Assumed Gross Rate (-0.86 % Rate) Maximum Charges Death 7.00% Assumed Gross Rate (6.14% Rate) Maximum Charges Surrender Death 7.00% Assumed Gross Rate (6.14% Rate) Current Charges Surrender Death , ,370 1,386, ,634 1,526, ,744 1,554, , ,117 1,408, ,666 1,577, ,664 1,611, , ,177 1,430, ,229 1,630, ,992 1,671, , ,521 1,452, ,433 1,687, ,928 1,735, , ,137 1,472, ,410 1,746, ,687 1,803, , ,987 1,492, ,273 1,808, ,498 1,875, , ,013 1,511, ,121 1,872, ,611 1,951, , ,189 1,529, ,092 1,940, ,288 2,032, , ,471 1,547, ,309 2,012, ,732 2,117, , ,890 1,563, ,984 2,086,734 1,082,291 2,208,041 Totals: 625, , ,422 1,579,172 1,039,284 2,165,034 1,178,263 2,304, , ,020 1,593,770 1,121,360 2,247,110 1,280,031 2,405, , ,651 1,607,401 1,207,387 2,333,137 1,387,954 2,513, , ,279 1,620,029 1,297,544 2,423,294 1,502,416 2,628, , ,075 1,620,029 1,392,686 2,423,294 1,624,043 2,628, , ,408 1,529,029 1,367,556 2,332,294 1,627,419 2,537, , ,318 1,436,664 1,339,411 2,239,929 1,629,758 2,444, , ,645 1,342,914 1,308,070 2,146,179 1,631,000 2,351, ,156 58,209 1,247,758 1,273,343 2,051,023 1,631,083 2,255, ,583 ## ## 1,235,040 1,954,440 1,629,942 2,159,312 Totals: 782, ,854 ## Indicates that the policy has lapsed under the illustrated assumption. Additional premium would be required to maintain policy benefits. Page 10 of 13

17 John Hancock Life Insurance Company (U.S.A.) Summary of s (cont'd) EOY Age Planned Premium Income ,032 1,192,932 1,856,408 1,627,966 2,061, ,502 1,146,759 1,756,906 1,624,522 1,961, ,995 1,096,284 1,655,911 1,619,545 1,860, ,510 1,041,152 1,552,071 1,612,980 1,757, , ,014 1,443,309 1,604,648 1,694, , ,673 1,329,423 1,594,290 1,689, , ,939 1,210,225 1,581,558 1,682, , ,634 1,085,516 1,566,263 1,672, , , ,094 1,548,198 1,659, , , ,748 1,527,142 1,644,263 Totals: 782,250 1,518,066 Surrender Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In % Assumed Gross Rate (-0.86 % Rate) Maximum Charges Death 7.00% Assumed Gross Rate (6.14% Rate) Maximum Charges Surrender Death 7.00% Assumed Gross Rate (6.14% Rate) Current Charges Surrender Death , , ,260 1,502,856 1,625, , , ,405 1,475,083 1,603, , , ,251 1,443,548 1,578, , , ,767 1,407,954 1,548, ,752 61, ,544 1,367,989 1,515, ,563 ## ## 1,323,312 1,476, ,401 1,273,561 1,433, ,267 1,218,343 1,384, ,161 1,157,242 1,330, ,083 1,089,810 1,269,752 Totals: 782,250 2,735, ,034 1,015,568 1,164, , ,177 1,051, , , , , , , , , , , , , , , , , , , , , , ,967 29,034 29,034 Totals: 782,250 4,148,842 ## Indicates that the policy has lapsed under the illustrated assumption. Additional premium would be required to maintain policy benefits. Page 11 of 13

18 John Hancock Life Insurance Company (U.S.A.) Summary of s (cont'd) EOY Age Planned Premium Income ,817 30, ,709 32, ,717 34, ,849 36, ,111 39, ,513 41, ,061 44, ,767 46, ,638 49, ,686 52,686 Totals: 782,250 4,148,842 Surrender Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In % Assumed Gross Rate (-0.86 % Rate) Maximum Charges Death 7.00% Assumed Gross Rate (6.14% Rate) Maximum Charges Surrender Death 7.00% Assumed Gross Rate (6.14% Rate) Current Charges Surrender Death ,921 55, ,355 59, ,999 62, ,867 66, ,973 70, ,331 75, ,956 79, ,865 84, ,076 90, ,606 95,606 Totals: 782,250 4,148, , , , , , , , , , ,790 Totals: 782,250 4,148,842 ## Indicates that the policy has lapsed under the illustrated assumption. Additional premium would be required to maintain policy benefits. Page 12 of 13

19 Accumulation VUL Illustration Explanation Assuming Current Charges and an Initial Gross Rate of 7.00% ( 6.14%) The Accumulation VUL policy you are considering provides death benefit protection and flexibility of premium payments. It also has an investment component which allows you to choose from several portfolios, each with its own investment objective. This information supplements the attached illustration and should help you understand the assumptions which have been used in the projections of the values. The Base Face, during No-Lapse Guaranteed Period, not including the Additional Death provided by the investment performance of your selected portfolios or any Supplemental Face, is guaranteed to be paid at the death of the Insured (subject to the insurer claims paying ability) as long as No-Lapse Guarantee premium requirements are met. For the first 2 policy years, the guarantee also applies to the amount of Supplemental Face and Return of Premium Death Rider, if elected. This is payable regardless of the policy's investment performance. Certain aspects of the policy are based on investment performance and will vary depending on a number of factors, including the portfolios you have selected. Investment performance may vary from that shown on the attached illustration, and would affect: Additional Death provided by investment performance provided by investment performance Total outlay over the lifetime of the policy Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In 25 The Death will be reduced by any withdrawals and/or outstanding loans, including loan interest then due. In addition, there are non-guaranteed expense and cost of insurance charges that may change, but will never exceed the guaranteed maximums. How Much Will My Insurance Cost? The premiums required for the coverage will ultimately depend on the outcome of the underwriting process, and may vary from what is shown on the attached illustration. If so, you will receive a revised illustration with your insurance contract. While premiums are payable for the lifetime of the insured, your illustration may show reduced or discontinued premiums in future years. If actual investment performance is less than illustrated, additional premium may be required to keep the policy inforce. We recommend that you review additional illustrations using various investment returns to understand how actual performance may affect the s and premium payment schedule. Acknowledgment I have received a Prospectus and have had an opportunity to carefully review the attached illustration with my Registered Representative. I understand that some of the values and benefits are non-guaranteed and are likely to change. I realize that the illustration is not part of the insurance contract. <ins1si> <ins1dt> Applicant's Signature Date <asi> <acom> / <af> <afext> <adt> Registered Representative's Signature (Mr. Producer) Agency/Phone Number Date We appreciate your confidence in John Hancock Life Insurance Company (U.S.A.) and look forward to being of service to you. Please feel free to contact us with any questions. Page 13 of 13

20 Death Illustration Initial Death $1,125,750 Base Face $1,125,750 Initial Death Option 2; Death Option 1 Starting In 25 Assuming Current Charges and an Initial Gross Rate of 7.00% ( 6.14%) EOY Age Planned Premium Base Face Suplmental Face Required Additional Death ,290 1,125, , ,152, ,290 1,125, , ,183, ,290 1,125, , ,215, ,290 1,125, , ,249, ,290 1,125, , ,285, ,290 1,125, , ,323, ,290 1,125, , ,364, ,290 1,125, , ,407, ,290 1,125, , ,452, ,290 1,125, , ,500,792 Withdrawal Interest Totals: 312, Death ,290 1,125, , ,554, ,290 1,125, , ,611, ,290 1,125, , ,671, ,290 1,125, , ,735, ,290 1,125, , ,803, ,290 1,125, , ,875, ,290 1,125, , ,951, ,290 1,125, , ,032, ,290 1,125, , ,117, ,290 1,125, ,082, ,208,041 Totals: 625, ,290 1,125, ,178, ,304, ,290 1,125, ,280, ,405, ,290 1,125, ,387, ,513, ,290 1,125, ,502, ,628, ,290 1,125,750 1,502, ,624, ,628, ,125,750 1,411, ,627,419 91, ,537, ,125,750 1,319, ,629,758 92, ,444, ,125,750 1,225, ,631,000 93, ,351, ,125,750 1,130, ,631,083 95, ,255, ,125,750 1,033, ,629,942 96, ,159,312 Totals: 782, , Death reflects cumulative withdrawals.this IS AN ILLUSTRATION ONLY AND IS NOT INTENDED TO PREDICT ACTUAL PERFORMANCE.

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