1www.ebri.org, March 2011
Issued by John Hancock Life Insurance Company (U.S.A.) | New York: John Hancock Life Insurance Company of New York.
What is a Variable Annuity?
A variable annuity is a contract between an individual and an insurance company, designed for long-term retirement investing. They are tax deferred, long-term contracts designed to help meet retirement and other financial goals. Variable annuities combine both investment and protection features into one product. A variable annuity has two distinct phases, an “accumulation” phase and a “distribution” phase, as well as fees and charges, such as a sales charge, mortality and expense risk charge, administrative fees and underlying fund expenses, as well as additional charges for any optional riders you might elect. Variable annuities offered by John Hancock are available at an annual cost of 1.15% to 1.70% for mortality, expense and administration fees, with an additional fee related to the professional investment options. Income Plus For Life is an optional rider that is available for an additional annual fee of 1.00% (max 1.50%).
It is important to understand that Income Plus For Life is an optional benefit available with Venture Variable Annuity contracts and cannot be elected without purchasing the annuity contract. This benefit may not be appropriate for those individuals who do not foresee a need for liquidity and whose primary focus is tax deferral. Before considering this benefit, please make sure the annuity is suitable for your financial goals and personal circumstances. A Guaranteed Minimum Withdrawal Benefit (GMWB) requires clients to choose from a selection of pre-built diversified portfolios available with the variable annuity, requires taking withdrawals to receive certain benefits, contains age caps and limitations at certain ages, and you must be living in order to receive certain benefits.
All contract and rider guarantees, including optional benefits and any fixed subaccount crediting rates or annuity payout rates, are backed by the claims-paying ability of John Hancock Annuities. They are not backed by the broker/dealer from which this annuity is purchased, by the insurance agency from which this annuity is purchased or any affiliates of those entities and none makes any representations or guarantees regarding the claims-paying ability of John Hancock Annuities.
Contact your financial advisor or visit www.jhannuities.com for more information, including product and fund prospectuses which contain complete details on investment objectives, risks, fees, charges, and expenses as well as other information about the investment company, which should be carefully considered. Please read the prospectuses carefully prior to purchasing. The prospectuses contain this and other information on the product and the underlying portfolios.
Charges may apply to amounts taken in excess of the withdrawal amount available without a withdrawal charge during the surrender charge period. All withdrawals reduce the death benefit, optional benefits, and contract value. In addition, withdrawals of taxable amounts will be subject to ordinary income tax and, if made prior to age 59½, a 10% IRS penalty tax may apply. Past performance is not a guarantee of future results.
This material was prepared to support the promotion and marketing of variable annuities. John Hancock, its distributors, and their respective representatives do not provide tax, accounting, investment, or legal advice. Any tax statements contained herein were not intended or written to be used, and cannot be used for the purpose of avoiding U.S. federal, state or local tax penalties. Please consult your own independent advisor as to any tax, accounting, investment, or legal statements made herein.
Certain Broker/Dealers will require the contracts value to be converted to a monthly income stream, known as annuitization, by age 95. This requirement can apply to non-qualified or stand alone qualified annuity contracts. For more information, please contact your financial advisor.
For use with policy form number series VENTURE.11, and rider form number series BR001Q.11, BR001NQ.11, BR002Q.11, BR002NQ.11, and Venture-B.11-NY and Venture-L.11-NY and rider form series BR001Q.11-NY, BR001NQ.11-NY, BR002Q.11-NY, and BR002NQ.11-NY.
Individual contract form numbers may vary depending on state of issue.
Venture Annuities are issued and administered by John Hancock Life Insurance Company (U.S.A.), Bloomfield Hills, MI. In New York: John Hancock Life Insurance Company of New York. Venture Combination Fixed and Variable Annuities are distributed by John Hancock Distributors LLC, member FINRA.
John Hancock Annuities Service Center
P.O. Box 9505, Portsmouth, NH 03802-9505 800-344-1029
New York contracts: P.O. Box 9506 Portsmouth, NH 03802-9506 800-551-2078
www.jhannuities.com | www.Jhannuitiesnewyork.com
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