497 1 d497.htm JHUSA N - CVUL 05 JHUSA N - CVUL 05

Supplement to dated July 28, 2011 to

Prospectuses Dated May 2, 2011

 

 

This supplement is intended for distribution with prospectuses dated May 2, 2011 for variable life insurance contracts issued by John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York, as applicable. The affected prospectuses bear the titles:

 

Medallion Executive Variable Life    Accumulation VUL
Medallion Executive Variable Life II    Corporate VUL
Medallion Executive Variable Life III    Medallion Variable Life
Majestic Variable Universal Life    Medallion Variable Universal Life Plus
Majestic Variable Universal Life 98    Medallion Variable Universal Life Edge

Majestic Variable COLI

   Medallion Variable Universal Life Edge II

Majestic Variable Estate Protection

   Flex V1

Majestic Variable Estate Protection 98

   Flex V2

Majestic Performance Survivorship Variable Universal Life

  

Variable Estate Protection

   Survivorship VUL

Variable Estate Protection Plus

   Protection Variable Universal Life

Variable Estate Protection Edge

  

Performance Executive Variable Life

  

Performance Survivorship Variable Universal Life

  

M International Equity portfolio

Effective June 17, 2011 Northern Cross, LLC replaced Brandes Investment Partners, L.P. as the sub adviser of the M International Equity portfolio. In addition to this subadviser change, the management fee increased from 0.65% to 0.70% of the portfolio’s average daily net assets.

Portfolio Annual Expenses

In connection with the above-referenced subadviser change to the M International Equity portfolio, we amend and restate the fees and expenses and associated footnote for this portfolio contained in the Portfolio Annual Expenses table of your prospectus as follows:

 

Portfolio

   Management
Fees
    12b-1
Fees
    Other
Expenses
    Acquired Fund Fees and
Expenses
    Total Operating
Expenses
 

M International Equity

     0.70     0.00     0.23     0.00     0.93

 

Until April 30, 2012, M Financial Investment Advisers, Inc., the adviser to the portfolios, has contractually agreed to reimburse each portfolio for any ordinary expenses (other than advisory fees, brokerage or other portfolio transaction expenses or expenses for litigation, indemnification, taxes or other extraordinary expenses) to the extent that such expenses exceed 0.25% of the portfolio’s annualized daily average net assets. The fees shown in the table do not reflect this expense reimbursement. If this expense reimbursement had been reflected, the net Total Operating Expenses for the portfolios would be as indicated below. For more information, please refer to the prospectus for the underlying portfolios.

 

Portfolio

   Total Operating Expenses
M Business Opportunity Value    0.88%
M Capital Appreciation    1.10%
M International Equity    0.93%
M Large Cap Growth    0.83%

Table of Investment Options and Investment Subadvisers

We amend and restate the following disclosure under the Table of Investment Options and Investment Subadvisers to reflect the above-referenced subadviser change:

 

Portfolio

  

Portfolio Manager

  

Investment Objective

M International Equity (a series of M Fund, Inc.)    Northern Cross, LLC    To seek long-term capital appreciation through investment in equity securities of foreign issuers, including common stocks, and securities that are convertible into common stocks.

You should read this supplement together with the prospectus for the M Funds, Inc. dated April 29, 2011, as supplemented,

 

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for the contract you purchased, and retain both for future reference.

Prior to making any investment decisions, you should carefully review your product prospectus and all applicable supplements. In addition, you should review the prospectuses and applicable supplements for the underlying portfolios that we make available as investment options under the policies. The prospectuses describe the investment objectives, policies and restrictions of, and the risks relating to, investment in the portfolios. In the case of any of the portfolios that are operated as feeder funds, you should also review the prospectus for the corresponding master fund. If you need to obtain additional copies of any of these documents, please contact your representative or contact our Service Office at the address or telephone number on the back page of your product prospectus.

VLI ProdSupp VL2-MFunds 07/2011

 

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