0001193125-14-010663.txt : 20140114 0001193125-14-010663.hdr.sgml : 20140114 20140114144923 ACCESSION NUMBER: 0001193125-14-010663 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20140114 DATE AS OF CHANGE: 20140114 EFFECTIVENESS DATE: 20140114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JOHN HANCOCK LIFE INSURANCE CO (USA) SEPARATE ACCOUNT N CENTRAL INDEX KEY: 0000813572 IRS NUMBER: 232030787 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-152409 FILM NUMBER: 14527005 BUSINESS ADDRESS: STREET 1: 200 BLOOR STREET EAST ST 10 STREET 2: TORONTO M4W 1EF CITY: ONTARIO CANADA STATE: A6 ZIP: 48304 BUSINESS PHONE: 4169266302 MAIL ADDRESS: STREET 1: P O BOX 600 CITY: BUFFALO STATE: NY ZIP: 14201-0600 FORMER COMPANY: FORMER CONFORMED NAME: MANUFACTURERS LIFE INS CO USA SEPARATE ACCOUNT N DATE OF NAME CHANGE: 20020411 FORMER COMPANY: FORMER CONFORMED NAME: SEPARATE ACCOUNT FOUR OF THE MANUFACTURERS LIFE INS CO OF AM DATE OF NAME CHANGE: 19920703 0000813572 S000009940 JOHN HANCOCK LIFE INSURANCE CO (USA) SEPARATE ACCOUNT N C000069370 Corporate VUL 497 1 d654951d497.htm JHUSA N - CVUL 09 JHUSA N - CVUL 09

Supplement Dated January 14, 2014

To

Prospectuses Dated April 29, 2013

 

 

This supplement is intended for distribution with prospectuses dated April 29, 2013 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:

 

Accumulation VUL

Corporate VUL

Protection Variable Universal Life Protection VUL 2012

Survivorship Variable Universal Life

  

Majestic VULX

Majestic Survivorship VULX

Majestic VCOLIX

  

Effective December 1, 2013, we amend and restate the expense information contained in the table of Portfolio Annual Expenses for the following funds:

 

Portfolio

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

Lifestyle Aggressive1,2

      0.04 %      0.00 %      0.03 %      0.88 %      0.95 % 

Lifestyle Balanced1,2

      0.04 %      0.00 %      0.02 %      0.68 %      0.74 % 

Lifestyle Conservative1,2

      0.04 %      0.00 %      0.02 %      0.65 %      0.71 % 

Lifestyle Growth1,2

      0.04 %      0.00 %      0.02 %      0.70 %      0.76 % 

Lifestyle Moderate1,2

      0.04 %      0.00 %      0.02 %      0.67 %      0.73 % 

 

1 “Acquired Fund Fees and Expenses” are based on the estimated indirect net expenses associated with the portfolio’s investment in underlying funds (each an “Acquired Fund”) and are included in the portfolio’s “Total Fund Operating Expenses.” The “Total Fund Operating Expenses” shown may not correlate to the portfolio’s ratio of expenses to average net assets shown in the financial highlights section of the prospectus for the portfolio, which does not include “Acquired Fund Fees and Expenses.”
2 John Hancock Investment Management Services, LLC (“JHIMS”) has contractually agreed to limit other portfolio level expenses to 0.00%. These expenses consist of operating expenses of the portfolio, excluding advisory fees, 12b-1 fees, short dividends, acquired fund fees, taxes, brokerage commissions, interest expenses, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of business. The current expense limitation agreement expires on April 30, 2017 unless renewed by mutual agreement of the portfolio and JHIMS based upon a determination that this is appropriate under the circumstances at that time. The fees shown in the table do not reflect this waiver. If this waiver had been reflected, the “Total Fund Operating Expenses” for the portfolios would be as indicated below. For more information, please refer to the prospectus for the underlying portfolio.

 

Portfolio

    Total Fund Operating
Expenses		    

Portfolio

    Total Fund Operating
Expenses		  

Lifestyle Aggressive

      0.92 %   

Lifestyle Growth

      0.74 % 

Lifestyle Balanced

      0.72 %   

Lifestyle Moderate

      0.71 % 

Lifestyle Conservative

      0.69 %      

 

1

Effective March 3, 2014, we amend and restate the investment objectives of the Lifestyle portfolios contained in the Table of Investment Options and Investment Subadvisers as follows:

 

Portfolio

   

Portfolio Manager

   

Investment Objective

Lifestyle Aggressive    John Hancock Asset Management, a division of Manulife Asset Management (US) LLC; and John Hancock Asset Management, a division of Manulife Asset Management (North America) Limited    To seek long-term growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses. The portfolio normally invests primarily in underlying funds that invest primarily in equity securities. The portfolio may also use certain risk management techniques to seek to manage volatility of returns and limit the magnitude of portfolio losses.
Lifestyle Balanced    John Hancock Asset Management, a division of Manulife Asset Management (US) LLC; and John Hancock Asset Management, a division of Manulife Asset Management (North America) Limited    To seek growth of capital and current income while seeking to both manage the volatility of return and limit the magnitude of portfolio losses. The portfolio normally invests primarily in underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities. The portfolio may also use certain risk management techniques to seek to manage the volatility of returns and limit the magnitude of portfolio losses.
Lifestyle Conservative    John Hancock Asset Management, a division of Manulife Asset Management (US) LLC; and John Hancock Asset Management, a division of Manulife Asset Management (North America) Limited    To seek current income and growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses. The portfolio normally invests primarily in underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities. The portfolio may also use certain risk management techniques to seek to manage the volatility of returns and limit the magnitude of portfolio losses.
Lifestyle Growth    John Hancock Asset Management, a division of Manulife Asset Management (US) LLC; and John Hancock Asset Management, a division of Manulife Asset Management (North America) Limited    To seek long-term growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses. The portfolio normally invests primarily in underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities. The portfolio may also use certain risk management techniques to seek to manage the volatility of returns and limit the magnitude of portfolio losses.
Lifestyle Moderate    John Hancock Asset Management, a division of Manulife Asset Management (US) LLC; and John Hancock Asset Management, a division of Manulife Asset Management (North America) Limited    To seek current income and growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses. The portfolio normally invests primarily in underlying funds that invest primarily in equity securities and underlying funds that invest primarily in fixed-income securities. The portfolio may also use certain risk management techniques to seek to manage the volatility of returns and limit the magnitude of portfolio losses.

 

2

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.

 

333-141692

  

333-141693

    

333-148991

  

333-148992

    

333-151630

  

333-151631

    

333-152406

  

333-152407

    

333-153252

  

333-152408

    

333-179570

  

333-153253

    

333-152409

  

333-179571

    

VLI ProdSupp VL1 1/2014

 

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