Supplement Date October 31, 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 | Performance Executive Variable Life | |
Medallion Executive Variable Life II | Performance Survivorship Variable Universal Life | |
Medallion Executive Variable Life III | VUL Accumulator | |
Majestic Variable Universal Life | Accumulation VUL | |
Majestic Variable Universal Life 98 | Corporate VUL | |
Variable Master Plan Plus | EPVUL | |
Majestic Variable COLI | Medallion Variable Universal Life Plus | |
Majestic Variable Estate Protection | Medallion Variable Universal Life Edge | |
Majestic Variable Estate Protection 98 | Medallion Variable Universal Life Edge II | |
Majestic Performance Survivorship Variable Universal Life | VUL Protector | |
Variable Estate Protection | SPVL | |
Variable Estate Protection Plus | Survivorship VUL | |
Variable Estate Protection Edge | Protection Variable Universal Life |
Portfolio Mergers
Effective after the close of business on October 28, 2011, the portfolios of John Hancock Variable Insurance Trust listed below under Acquired Portfolios merged into the corresponding John Hancock Variable Insurance Trust portfolio listed below under Acquiring Portfolios.
Acquired Portfolios |
Acquiring Portfolios | |
American Bond | Bond | |
Core Diversified Growth & Income | Lifestyle Growth |
As a result, you will not be able to allocate your policy value or any premium payments to an investment account corresponding with one of the Acquired Portfolios after October 28, 2011. You should disregard any reference in your product prospectus to the Acquired Portfolios.
Portfolio Addition
Effective October 31, 2011, the list of investment accounts on the first page of the prospectus is updated to reflect the addition of the Bond portfolio to your policy, which invests in the corresponding portfolio of the John Hancock Variable Insurance Trust.
We add the following disclosure to the Table of Investment Options and Investment Subadvisers:
Portfolio |
Portfolio Manager |
Investment Objective | ||
Bond |
John Hancock Asset Management, a division of Manulife Asset Management (US) LLC | To seek income and capital appreciation. Under normal market conditions, the portfolio invests at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified mix of debt securities and instruments. The portfolio seeks to invest its assets in debt securities and instruments with an average duration of between 4 to 6 years, however, there is no limit on the portfolios average maturity. |
You should read this supplement together with the prospectus 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 10/2011