FEES AND EXPENSES | ||||
Transaction Charges |
You may be charged for the following transactions:
A premium charge will be deducted from each premium
payment. A sales charge will be deducted from each premium payment.
A transfer fee may be deducted upon transfers into or out of a variable
investment account after you have made more than 12 such
transfers in a year. |
FEE TABLE
Deductions from policy
value | ||
Ongoing Fees and
Expenses (annual charges) |
In addition to transaction charges, you will also be subject to certain
ongoing fees and expenses, including a cost of insurance
charge, administration fee, a mortality and expense risk
charge, policy loan costs, and supplementary benefit rider
charges. Some of these fees and expenses are based wholly or in part on the characteristics of the insured person (e.g., age, sex, and
underwriting classification).
You should view the “policy specifications” page of your
policy for rates applicable to your policy.
|
FEE TABLE Deductions from policy value | ||
You will also bear expenses associated with the portfolios under the
policy, as shown in the following table:
|
Charges at the portfolio
level
APPENDIX | |||
Annual Fee |
Minimum |
Maximum | ||
Variable investment accounts (portfolio fees
and expenses) |
0.44% |
2.58% |
RISKS | ||
Risk of Loss |
You can lose money by investing in this policy. |
PRINCIPAL RISKS OF INVESTING IN A POLICY |
RISKS | ||
Not a Short- Term
Investment |
This policy is not a short-term investment and is not appropriate for
an investor who needs ready access to cash. The policy is
unsuitable as a short-term savings vehicle because of
substantial policy-level charges, including the premium
charge, as well as potential adverse tax consequences
from such short-term use. |
Early Surrender or
Withdrawal Risk/Not a
Short-Term Investment |
Risks Associated with
Investment Options |
An investment in this policy is subject to the risk of poor
performance and can vary depending on the performance of
the account allocation options available under the policy
(e.g., portfolios). Each such option (including the fixed
account) will have its own unique risks, and you should
review these options before making an allocation
decision. You can find the prospectuses and other
information about the portfolios at
dfinview.com/JohnHancock/TAHD/CVUL2004. |
Investment Risk/Risk of
Loss |
Insurance Company
Risks |
Your investment in the policy is subject to risks related to John
Hancock USA, including that the obligations (including
under the fixed account option), guarantees, or benefits
are subject to the claims-paying ability of John Hancock
USA. Information about John Hancock USA, including its
financial strength ratings, is available upon request
from your John Hancock USA representative. Our current
financial strength ratings can also be obtained by contacting the Service Office at 1-800-732-5543. |
Depositor
Registrant |
Policy Lapse |
This policy will go into default if at the beginning of any policy
month the policy’s net cash surrender value would
be zero or below after deducting the monthly deductions
then due. The “net cash surrender value” is
your policy value and less any policy debt. This can
happen as a result of insufficient premium payments, poor
performance of the variable or general account options you have
chosen, withdrawals, or unpaid loans or loan interest. If
a default is not cured within a 61-day grace period, your
policy will lapse without value, and no death benefit or
other benefits will be payable. You can apply to
reinstate a policy that has gone into default, subject to
conditions including payment of a specified amount of additional
premiums. |
Lapse and Reinstatement |
RESTRICTIONS | ||
Investments |
There are restrictions that may limit the variable investment account
options and general account options (including the fixed
account) that you may choose, as well as limitations on
the transfer of policy value among those options. These
restrictions may include a monthly limit on the number of
transfers you may make. We may also impose additional
restrictions to discourage market timing and disruptive
trading activity.
In particular, your allocation options will be affected if you elect to
take a loan or receive benefits under certain
supplementary benefit riders.
Among other things, the policy also allows us to eliminate the shares
of a portfolio or substitute shares of another new or
existing portfolio, subject to applicable legal
requirements. |
Transfers to or from a variable investment account Transfers involving the fixed account Portfolios |
RESTRICTIONS | ||
Optional Benefits |
There are restrictions and limitations relating to optional benefits,
as well as conditions under which an optional benefit may
be modified or terminated by us. For example, certain
supplementary benefit riders may be subject to
underwriting, and your election of an option may result
in restrictions upon some of the policy benefits, including
availability of investment options. |
More About Certain Optional Benefits |
TAXES | ||
Tax Implications |
You should consult with a tax professional to determine the tax
implications of an investment in and payments received
under the policy. There is no additional tax benefit to
you if the policy is purchased through a tax-qualified
plan. If we pay out any amount of your policy value upon
surrender or partial withdrawal, all or part of that
distribution would generally be treated as a return of the
premiums you’ve paid and not subjected to income tax, with any
portion not treated as a return of your premiums
includible in your income. Distributions also are subject
to tax penalties under some circumstances.
|
TAXES |
CONFLICTS OF INTEREST | ||
Investment Professional
Compensation |
Some investment professionals may receive compensation for selling
the policy, including by means of commissions and revenue
sharing arrangements. These investment professionals may
have a financial incentive to offer or recommend this
policy over another investment. |
Commissions Paid to
Dealers |
Exchanges |
Some investment professionals may have a financial incentive to
offer you a new policy in place of the one you already
own, and you should only exchange your policy if you
determine, after comparing the features, fees, and risks
of both policies, that it is preferable for you to
purchase the new policy rather than continue to own the
existing policy. |
Commissions Paid to Dealers |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To approximate the aggregate total return
of a broad-based U.S. domestic equity
market index. |
500 Index Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(North America) Limited |
0.25%* |
25.95 |
15.40 |
11.75 |
To seek income and capital appreciation. |
Active Bond Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.71% |
6.43 |
1.62 |
2.34 |
To seek to provide high total return
(including income and capital gains)
consistent with preservation of capital
over the long term. |
American Asset Allocation Trust - Series
I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
0.93% |
13.90 |
8.80 |
6.86 |
To seek to provide long-term growth of
capital. |
American Global Growth Trust - Series I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.06%* |
22.12 |
13.20 |
9.17 |
To seek to provide growth of capital. |
American Growth Trust - Series I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
0.97%* |
37.99 |
18.24 |
13.94 |
To seek to provide long-term growth of
capital and income. |
American Growth-Income Trust - Series I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
0.91%* |
25.68 |
12.95 |
10.52 |
To seek to provide long-term growth of
capital. |
American International Trust - Series I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series) |
1.17%* |
15.39 |
4.44 |
3.02 |
To provide long-term growth of capital.
Current income is a secondary objective. |
Blue Chip Growth Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
0.82%* |
49.56 |
13.53 |
12.34 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek long-term growth of capital. |
Capital Appreciation Trust - Series I
John Hancock Variable Trust Advisers
LLC/Jennison Associates LLC |
0.81%* |
52.85 |
17.98 |
14.11 |
To seek long-term capital appreciation. |
Capital Appreciation Value Trust - Series
I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
0.94%* |
18.18 |
12.42 |
10.24 |
To seek total return consisting of income
and capital appreciation. |
Core Bond Trust - Series I
John Hancock Variable Trust Advisers
LLC/Allspring Global Investments, LLC |
0.68%* |
5.80 |
1.05 |
1.69 |
To seek long-term growth of capital. |
Disciplined Value International Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Boston Partners Global Investors, Inc. |
0.84%* |
19.96 |
8.42 |
3.05 |
To seek long-term capital appreciation. |
Emerging Markets Value Trust - Series I
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP |
1.08%* |
15.19 |
5.38 |
3.01 |
To provide substantial dividend income
and also long-term growth of capital. |
Equity Income Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
0.76%* |
9.39 |
11.08 |
7.82 |
To seek growth of capital. |
Financial Industries Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.94%* |
5.22 |
9.67 |
7.04 |
To seek long-term growth of capital. |
Fundamental All Cap Core Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.76%* |
35.40 |
18.31 |
12.26 |
To seek long-term capital appreciation. |
Fundamental Large Cap Value Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.78%* |
23.45 |
17.57 |
10.18 |
To seek long-term capital appreciation. |
Global Equity Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.94%* |
20.09 |
8.94 |
4.52 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek long-term capital appreciation. |
Health Sciences Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.05%* |
4.25 |
10.52 |
10.89 |
To realize an above-average total return
over a market cycle of three to five years,
consistent with reasonable risk. |
High Yield Trust - Series I
John Hancock Variable Trust Advisers
LLC/Western Asset Management Company, LLC |
0.86%* |
13.05 |
4.90 |
3.54 |
To seek to track the performance of a
broad-based equity index of foreign
companies primarily in developed
countries and, to a lesser extent, in
emerging markets. |
International Equity Index Trust - Series I
John Hancock Variable Trust Advisers
LLC/SSGA Funds Management, Inc. |
0.39%* |
15.36 |
6.90 |
3.65 |
To seek long-term capital appreciation. |
International Small Company Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP |
1.05%* |
13.44 |
7.00 |
4.21 |
To provide a high level of current income
consistent with the maintenance of
principal and liquidity. |
Investment Quality Bond Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
0.76%* |
6.49 |
1.37 |
1.94 |
To seek long-term growth of capital.
Current income is also a consideration. |
Lifestyle Growth Portfolio - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.67% |
17.00 |
9.09 |
6.72 |
To seek growth of capital and current
income while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses. |
Managed Volatility Balanced Portfolio -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.81% |
11.99 |
4.62 |
3.81 |
To seek current income and growth of
capital, while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses. |
Managed Volatility Conservative Portfolio
- Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.80% |
5.47 |
1.74 |
2.36 |
To seek long term growth of capital while
seeking to both manage the volatility of
return and limit the magnitude of
portfolio losses. |
Managed Volatility Growth Portfolio -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.84% |
13.69 |
5.18 |
3.70 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
To seek current income and growth of
capital while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses. |
Managed Volatility Moderate Portfolio -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.80% |
10.64 |
4.15 |
3.72 |
To seek long-term growth of capital. |
Mid Cap Growth Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
0.95% |
18.71 |
12.32 |
9.73 |
Seeks to approximate the aggregate total
return of a mid cap U.S. domestic equity
market index. |
Mid Cap Index Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.46%* |
16.01 |
12.14 |
8.81 |
To seek long-term capital appreciation. |
Mid Value Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.01%* |
18.52 |
13.06 |
9.29 |
To obtain maximum current income
consistent with preservation of principal
and liquidity. |
Money Market Trust** - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.33%* |
4.76 |
1.64 |
1.04 |
To seek maximum total return, consistent
with preservation of capital and prudent
investment management. |
Opportunistic Fixed Income Trust - Series
I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
0.93%* |
8.23 |
2.67 |
2.16 |
To seek to achieve a combination of long-
term capital appreciation and current
income. |
Real Estate Securities Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
0.81%* |
13.02 |
7.69 |
7.94 |
To seek long-term growth of capital.
Current income is incidental to the fund’s
objective. |
Science & Technology Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.04%* |
54.68 |
18.61 |
15.70 |
To seek income and capital appreciation. |
Select Bond Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.65%* |
6.10 |
1.34 |
1.86 |
To seek a high level of current income
consistent with preservation of capital.
Maintaining a stable share price is a
secondary goal. |
Short Term Government Income Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.72%* |
3.92 |
0.48 |
0.62 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
Seeks to approximate the aggregate total
return of a small cap U.S. domestic equity
market index. |
Small Cap Index Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.53%* |
16.49 |
9.56 |
6.80 |
To seek long-term capital appreciation. |
Small Cap Opportunities Trust - Series I
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP and GW&K Investment Management, LLC |
0.89%* |
18.05 |
13.93 |
7.86 |
To seek long-term capital appreciation. |
Small Cap Stock Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
1.13%* |
16.10 |
11.10 |
7.37 |
To seek long-term capital appreciation. |
Small Cap Value Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company LLP |
1.04%* |
14.01 |
8.80 |
6.02 |
To seek long-term growth of capital. |
Small Company Value Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc. |
1.21%* |
13.49 |
9.19 |
6.54 |
To seek a high level of current income. |
Strategic Income Opportunities Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.79%* |
7.37 |
3.25 |
2.79 |
Seeks to approximate the aggregate total
return of a broad U.S. domestic equity
market index. |
Total Stock Market Index Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (North America) Limited |
0.58%* |
25.53 |
14.38 |
10.73 |
The fund seeks a high level of current
income consistent with the maintenance
of liquidity and the preservation of
capital. |
Ultra Short Term Bond Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management (US) LLC |
0.67%* |
4.60 |
1.55 |
1.03 |
Investment Objective |
Portfolio and Adviser/Subadviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/23) (%) | ||
1-Year |
5-Year |
10-Year | |||
The Portfolio seeks maximum real return
consistent with preservation of real
capital and prudent investment
management. |
PIMCO VIT All Asset Portfolio - Series
M
Pacific Investment Management
Company LLC/Research Affiliates, LLC |
2.49%* |
7.83 |
5.69 |
3.73 |