04/24/2024 | Press release | Distributed by Public on 04/24/2024 11:15
Updated Information About Your Policy
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3
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important Information you should consider about the policy
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3
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Appendix: Portfolios Available Under The Policy
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Appendix-1
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FEES AND EXPENSES
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Transaction Charges
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You may be charged for the following transactions:
A premium charge will be deducted from each premium paid during the first
five policy years.
A surrender charge may be assessed upon withdrawal, surrender of policy
lapse.
A transfer fee may be deducted upon transfers into or out of a
variable investment account after you have made more than twelve such
transfers in a year.
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FEE TABLE
Deductions from premium
payments
Deductions from account
value
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Ongoing Fees and
Expenses (annual charges)
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In addition to transaction charges, you will also be subject to certain ongoing
fees and expenses, including an insurance charge, a mortality and expense
risk ("M&E") charge, an administration fee and charges for an optional
extended no-lapse guarantee. 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.
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FEE TABLE
Deductions from account
value
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You will also bear expenses associated with the portfolios under the policy,
as shown in the following table:
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Charges at the portfolio
level
APPENDIX
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Annual Fee
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Minimum
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Maximum
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Variable investment accounts (portfolio fees
and expenses)
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0.44%
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2.58%
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RISKS
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Risk of Loss
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You can lose money by investing in this policy.
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PRINCIPAL RISKS OF
INVESTING IN A
POLICY
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RISKS
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Not a Short- Term
Investment
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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.
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Unsuitable for Short-
Term Investment
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Risks Associated with
Investment Options
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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/VUL_Protector_NY.
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Fluctuating Investment
Performance
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Insurance Company
Risks
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Your investment in the policy is subject to risks related to John
Hancock NY, including that the obligations (including under the
fixed account option), guarantees, or benefits are subject to the
claims-paying ability of John Hancock NY. Information about John
Hancock NY, including its financial strength ratings, is available
upon request from your John Hancock NY representative. Our
current financial strength ratings can also be obtained by contacting
the Service Office at 1-800-732-5543.
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Depositor
Registrant
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Policy Lapse
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Sufficient premiums must be paid to keep the policy in force, but the
policy provides a 61-day grace period for the payment of each such
amount. If a default is not cured within a 61-day grace period, your
policy will terminate (i.e., "lapse"). You can apply to reinstate a
policy that has lapsed, subject to conditions that include payment of a
specified amount of additional premiums.
Since withdrawals reduce your account value, withdrawals increase
the risk of lapse. Loans also increase the risk of lapse.
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Lapse and
Reinstatement
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RESTRICTIONS
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Investments
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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 account
value among those options. In particular, your allocation options will
be affected if you elect to take a loan. 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.
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.
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Transfer of Account
Value
Availability of Loans,
Limitations and Interest
Portfolios
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Optional Benefits
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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.
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OTHER BENEFITS
AVAILABLE UNDER
THE POLICY
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TAXES
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Tax Implications
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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 account 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.
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TAXES
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CONFLICTS OF INTEREST
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Investment Professional
Compensation
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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.
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Commissions Paid to
Dealers
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Exchanges
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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.
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Commissions Paid to
Dealers
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Investment Objective
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Portfolio and Adviser/Subadviser
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Current
Expenses
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Average Annual
Total Returns
(as of 12/31/23) (%)
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1-Year
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5-Year
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10-Year
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To approximate the aggregate total return
of a broad-based U.S. domestic equity
market index.
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500 Index Trust - Series NAV
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(North America) Limited
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0.25%*
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25.95
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15.40
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11.75
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To seek income and capital appreciation.
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Active Bond Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.71%
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6.43
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1.62
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2.34
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To seek to provide high total return
(including income and capital gains)
consistent with preservation of capital
over the long term.
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American Asset Allocation Trust - Series
I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series)
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0.93%
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13.90
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8.80
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6.86
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To seek to provide long-term growth of
capital.
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American Global Growth Trust - Series I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series)
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1.06%*
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22.12
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13.20
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9.17
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To seek to provide growth of capital.
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American Growth Trust - Series I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series)
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0.97%*
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37.99
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18.24
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13.94
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To seek to provide long-term growth of
capital and income.
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American Growth-Income Trust - Series I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series)
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0.91%*
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25.68
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12.95
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10.52
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To seek to provide long-term growth of
capital.
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American International Trust - Series I
Capital Research and Management
Company (Adviser to the Master Fund,
American Fund Insurance Series)
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1.17%*
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15.39
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4.44
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3.02
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To provide long-term growth of capital.
Current income is a secondary objective.
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Blue Chip Growth Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
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0.82%*
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49.56
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13.53
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12.34
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Investment Objective
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Portfolio and Adviser/Subadviser
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Current
Expenses
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Average Annual
Total Returns
(as of 12/31/23) (%)
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1-Year
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5-Year
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10-Year
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To seek long-term growth of capital.
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Capital Appreciation Trust - Series I
John Hancock Variable Trust Advisers
LLC/Jennison Associates LLC
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0.81%*
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52.85
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17.98
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14.11
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To seek long-term capital appreciation.
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Capital Appreciation Value Trust - Series
I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
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0.94%*
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18.18
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12.42
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10.24
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To seek total return consisting of income
and capital appreciation.
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Core Bond Trust - Series I
John Hancock Variable Trust Advisers
LLC/Allspring Global Investments, LLC
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0.68%*
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5.80
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1.05
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1.69
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To seek long-term growth of capital.
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Disciplined Value International Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Boston Partners Global Investors,
Inc.
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0.84%*
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19.96
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8.42
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3.05
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To seek long-term capital appreciation.
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Emerging Markets Value Trust - Series I
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP
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1.08%*
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15.19
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5.38
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3.01
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To provide substantial dividend income
and also long-term growth of capital.
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Equity Income Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
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0.76%*
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9.39
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11.08
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7.82
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To seek growth of capital.
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Financial Industries Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.94%*
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5.22
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9.67
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7.04
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To seek long-term growth of capital.
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Fundamental All Cap Core Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.76%*
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35.40
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18.31
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12.26
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To seek long-term capital appreciation.
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Fundamental Large Cap Value Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.78%*
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23.45
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17.57
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10.18
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To seek long-term capital appreciation.
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Global Equity Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.94%*
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20.09
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8.94
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4.52
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Investment Objective
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Portfolio and Adviser/Subadviser
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Current
Expenses
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Average Annual
Total Returns
(as of 12/31/23) (%)
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1-Year
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5-Year
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10-Year
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To seek long-term capital appreciation.
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Health Sciences Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
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1.05%*
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4.25
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10.52
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10.89
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To realize an above-average total return
over a market cycle of three to five years,
consistent with reasonable risk.
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High Yield Trust - Series I
John Hancock Variable Trust Advisers
LLC/Western Asset Management
Company, LLC
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0.86%*
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13.05
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4.90
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3.54
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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.
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International Equity Index Trust - Series I
John Hancock Variable Trust Advisers
LLC/SSGA Funds Management, Inc.
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0.39%*
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15.36
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6.90
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3.65
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To seek long-term capital appreciation.
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International Small Company Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP
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1.05%*
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13.44
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7.00
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4.21
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To provide a high level of current income
consistent with the maintenance of
principal and liquidity.
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Investment Quality Bond Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company
LLP
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0.76%*
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6.49
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1.37
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1.94
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To seek long-term growth of capital.
Current income is also a consideration.
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Lifestyle Growth Portfolio - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.67%
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17.00
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9.09
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6.72
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To seek growth of capital and current
income while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses.
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Managed Volatility Balanced Portfolio -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.81%
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11.99
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4.62
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3.81
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To seek current income and growth of
capital, while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses.
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Managed Volatility Conservative Portfolio
- Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.80%
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5.47
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1.74
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2.36
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To seek long term growth of capital while
seeking to both manage the volatility of
return and limit the magnitude of
portfolio losses.
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Managed Volatility Growth Portfolio -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.84%
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13.69
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5.18
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3.70
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Investment Objective
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Portfolio and Adviser/Subadviser
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Current
Expenses
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Average Annual
Total Returns
(as of 12/31/23) (%)
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1-Year
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5-Year
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10-Year
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To seek current income and growth of
capital while seeking to both manage the
volatility of return and limit the
magnitude of portfolio losses.
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Managed Volatility Moderate Portfolio -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.80%
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10.64
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4.15
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3.72
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To seek long-term growth of capital.
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Mid Cap Growth Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company
LLP
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0.95%
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18.71
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12.32
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9.73
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Seeks to approximate the aggregate total
return of a mid cap U.S. domestic equity
market index.
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Mid Cap Index Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(North America) Limited
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0.46%*
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16.01
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12.14
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8.81
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To seek long-term capital appreciation.
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Mid Value Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
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1.01%*
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18.52
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13.06
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9.29
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To obtain maximum current income
consistent with preservation of principal
and liquidity.
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Money Market Trust** - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.33%*
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4.76
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1.64
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1.04
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To seek maximum total return, consistent
with preservation of capital and prudent
investment management.
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Opportunistic Fixed Income Trust - Series
I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company
LLP
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0.93%*
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8.23
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2.67
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2.16
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To seek to achieve a combination of long-
term capital appreciation and current
income.
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Real Estate Securities Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company
LLP
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0.81%*
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13.02
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7.69
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7.94
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To seek long-term growth of capital.
Current income is incidental to the fund's
objective.
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Science & Technology Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
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1.04%*
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54.68
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18.61
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15.70
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To seek income and capital appreciation.
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Select Bond Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.65%*
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6.10
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1.34
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1.86
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To seek a high level of current income
consistent with preservation of capital.
Maintaining a stable share price is a
secondary goal.
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Short Term Government Income Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.72%*
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3.92
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0.48
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0.62
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Investment Objective
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Portfolio and Adviser/Subadviser
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Current
Expenses
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Average Annual
Total Returns
(as of 12/31/23) (%)
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1-Year
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5-Year
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10-Year
|
|||
Seeks to approximate the aggregate total
return of a small cap U.S. domestic equity
market index.
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Small Cap Index Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(North America) Limited
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0.53%*
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16.49
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9.56
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6.80
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To seek long-term capital appreciation.
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Small Cap Opportunities Trust - Series I
John Hancock Variable Trust Advisers
LLC/Dimensional Fund Advisors LP and
GW&K Investment Management, LLC
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0.89%*
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18.05
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13.93
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7.86
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To seek long-term capital appreciation.
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Small Cap Stock Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company
LLP
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1.13%*
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16.10
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11.10
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7.37
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To seek long-term capital appreciation.
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Small Cap Value Trust - Series I
John Hancock Variable Trust Advisers
LLC/Wellington Management Company
LLP
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1.04%*
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14.01
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8.80
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6.02
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To seek long-term growth of capital.
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Small Company Value Trust - Series I
John Hancock Variable Trust Advisers
LLC/T. Rowe Price Associates, Inc.
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1.21%*
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13.49
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9.19
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6.54
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To seek a high level of current income.
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Strategic Income Opportunities Trust -
Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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0.79%*
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7.37
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3.25
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2.79
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Seeks to approximate the aggregate total
return of a broad U.S. domestic equity
market index.
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Total Stock Market Index Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(North America) Limited
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0.58%*
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25.53
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14.38
|
10.73
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The fund seeks a high level of current
income consistent with the maintenance
of liquidity and the preservation of
capital.
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Ultra Short Term Bond Trust - Series I
John Hancock Variable Trust Advisers
LLC/Manulife Investment Management
(US) LLC
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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) (%)
|
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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
|