Announcement • Jun 17

John Hancock Announces Enhanced Protection Variable Universal Life Solution

John Hancock announced an enhanced Protection Variable Universal Life (Protection VUL) solution — permanent life insurance designed to offer both protection and flexibility as customers' needs change over time. Protection VUL combines long-term death benefit protection with cash value growth potential and optional living benefit riders, offering a customizable approach to planning for customers seeking long-term financial confidence. Protection VUL is designed to help bridge these gaps with features that allow clients and their advisors to design the policy in a way that aligns to evolving needs and goals — from income replacement during working years, to supplemental retirement strategies and legacy planning later in life. Protection VUL also offers access to John Hancock Vitality®, a program offering tools, technology, resources, incentives and rewards to help customers take small, everyday steps toward a longer, healthier, better life. Customers who actively participate in the program have the opportunity to reduce their premiums. Protection VUL is built to evolve as clients' needs and priorities change, helping them stay prepared at every stage of life. Protection VUL policies automatically include a no-lapse guarantee (NLG) called Death Benefit Protection. This feature guarantees that the policy will not default, even if the cash surrender value falls to zero or below, provided that the Death Benefit Protection Value remains greater than zero and policy debt never exceeds the Policy Value. Policyholders who pay only the minimum premium required to keep the Death Benefit Protection in effect may forego the advantage of building significant cash value in this policy. The no-lapse guarantee under the Death Benefit Protection has a maximum duration to age 121. The duration of the no-lapse guarantee coverage may be less, depending upon the funding level chosen by the policy owner. The NLG duration is stated in the contract and reflected in the illustration's guaranteed net death benefit column. At the end of the NLG duration, premiums greater than those originally illustrated may be required to maintain coverage. Factors such as, but not limited to, the amount and timing of premium payments, loans, withdrawals, or any other change allowed under the contract could potentially terminate the no-lapse guarantee. Once terminated, the Death Benefit Protection feature cannot be reinstated. 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 if the investment options you choose underperform. Vitality is the provider of the John Hancock Vitality Program in connection with policies issued by John Hancock. John Hancock Vitality Program rewards and discounts are available only to the person insured under the eligible life insurance policy, may vary based on the type of insurance policy purchased and the state where the policy was issued, are subject to change and are not guaranteed to remain the same for the life of the policy. Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595 and securities are offered through John Hancock Distributors LLC through other broker/dealers that have a selling agreement with John Hancock Distributors LLC, 200 Berkeley Street, Boston, MA 02116. Protection VUL also offers access to John Hancock Vitality®, a program offering tools, technology, resources, incentives and rewards to help customers take small, everyday steps toward a longer, healthier, better life. Customers who actively participate in the program have the opportunity to reduce their premiums. 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. 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. Availability of policies, features, and benefits may vary by state. Products or services offered under the Vitality Program are not insurance and are subject to change. There may be additional costs associated with these products or services and there are additional requirements associated with participation in the program. Loans and withdrawals will reduce the death benefit and the cash surrender value and may cause the policy to lapse. Lapse or surrender of a policy with a loan may cause the recognition of taxable income. Withdrawals in excess of the cost basis (premiums paid) will be subject to tax and certain withdrawals within the first 15 years may be subject to recapture tax. Additionally, policies classified as modified endowment contracts may be subject to tax when a loan or withdrawal is made. A federal tax penalty of 10% may also apply if the loan or withdrawal is taken prior to age 59 1/2. Cash value available for loans and withdrawals may be more or less than originally invested. Withdrawals are available after the first policy year. Guaranteed product features are dependent upon minimum-premium requirements and the claims-paying ability of the issuer.

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