ACCUMULATION SVUL Reaching new heights in meeting retirement needs. For two. CONSUMER GUIDE

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1 CONSUMER GUIDE ACCUMULATION SVUL Reaching new heights in meeting retirement needs. For two. JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK IM5235CG

2 You have many goals in life. You re the kind of person who wants the opportunity to grow your assets for the future, and have these assets go to the people you care about. Accumulation SVUL1 is life insurance that can do both provide income for you and your spouse and provide the potential for wealth accumulation. Protection for what you ve achieved. Plus the potential to accumulate more. INSURANCE PRODUCTS: Not FDIC Insured Not a Deposit Not Bank Guaranteed May Lose Value Not Insured by Any Federal Government Agency

3 CONSUMER GUIDE Accumulation SVUL 2 Achieve More John Hancock s Accumulation SVUL is an affordable survivorship variable universal life policy that offers growth potential through a full range of investment options, as well as the flexibility to adapt to changes in your personal circumstances. Accumulation SVUL can help provide: Supplemental retirement income for you A secure financial future for your family Accumulation SVUL covers you and one other person (such as your spouse or business partner) making it a cost-effective alternative to purchasing two individual policies. You each have the flexibility to use your assets throughout your lives, or to conserve them for after you re gone. These assets can be used for: Wealth transfer needs Supplementing retirement income Equalization of inheritances Funding a charitable gift An inheritance to the family If you own a company, you may have even more to consider. Accumulation SVUL also offers certain options like the Return of Premium rider, which make it an inexpensive solution in business succession situations. Working with your financial professional, you can use this policy to help you with: Business continuation strategies/buy-sell agreement for stock redemption Key executive protection Bonus plans Your financial situation and your goals are unique to you. John Hancock s Accumulation SVUL can be tailored to meet your needs.

4 3 CONSUMER GUIDE Accumulation SVUL Protection Death Benefit Coverage An Accumulation SVUL insurance policy pays a death benefit upon the second person s death. The death benefit is immediately available for either family or business needs. With proper planning, your beneficiaries will receive the proceeds directly (without probate) on an income and estate tax-favored basis (under current law). 2 Guarantees 3 As long as you meet the minimum premium requirements, your Accumulation SVUL policy will not lapse for 20 years, regardless of how your underlying investment options perform. A 20-year No-Lapse Guarantee is automatically included in your base policy (duration of the guarantee varies by issue age and may be less at older ages). During your No-Lapse Guarantee period, if the cash surrender value falls to zero or below, your policy will not go into default provided it satisfies the cumulative premium test. 4 Changes to Death Benefit Option, loans, with drawals, addition of riders or their termination and/or changes to face amounts will also affect the No-Lapse Guarantee duration and premium requirement. You may also select an amount of Supplemental Face Amount, which is guaranteed for the first two policy years, provided the No-Lapse Guarantee cumulative premium test is met. Should you elect to increase the Supple mental Face Amount or add the Return of Premium rider, the Base Face Amount No-Lapse Guarantee period is limited to the first two policy years, provided the No-Lapse Guarantee cumulative premium test is met.

5 CONSUMER GUIDE Accumulation SVUL 4 What is survivorship variable universal life insurance? Survivorship variable universal life (SVUL) is a permanent life insurance product which insures two people and pays a death benefit when the second person dies (as long as there is sufficient value in the policy and the policy has not lapsed). Premiums are invested in your choice of investment options, and potential growth is generally tax deferred. SVUL products are subject to investment risk, including loss of principal, and past performance is not a guarantee of future results. In addition, under performance of the investment options may cause the policy to lapse if no underlying guarantee is in effect. As the policy owner, you have access to the policy s account value through policy loans and with drawals. However, loans and withdrawals from a SVUL policy will reduce the policy s account value and death benefit. Depending upon the performance of the investment options, the policy value available for loans and withdrawals may be more or less than the original amount invested in the policy. Keep in mind, there may be tax penalties and fees associated with the use of loans and withdrawals. Here s how it works: You Pay Premiums to Buy Life Insurance Premium Charge Deducted Accumulation SVUL offers death benefit protection for assets you ve earned in the past, opportunities to invest in the present, and strategies to help manage taxes and secure your future. Deductions for Cost of Insurance and Charges Policy Account Value Investment Choices Investment Experience and/or Income Tax-Free Death Benefit Tax-Advantaged Loans or Withdrawals Your Beneficiary You

6 5 CONSUMER GUIDE Accumulation SVUL Important factors to consider when evaluating survivorship variable universal life insurance: The primary purpose of SVUL is to provide lifetime protection against economic loss due to the death of the lives insured. Because it has surrender charges and investment fees associated with it, in addition to life insurance-related charges, SVUL is not suitable as a short-term savings vehicle. Cash values invested in the underlying investment accounts are not guaranteed. There are risks associated with each investment option. The policy may lose value. Life insurance death benefit proceeds are generally excludable from the beneficiary s gross income for income tax purposes. There are a few exceptions, such as when a life insurance policy has been transferred for valuable consideration. No legal, tax, or accounting advice can be given by John Hancock, its agents, employees, or registered representatives. Prospective purchasers should consult their professional tax advisor for details. Loans and withdrawals may cause your policy to lapse. A lapse or surrender of the policy while loans are outstanding may cause the recognition of a taxable event. Loans and with drawals from life insurance policies that are classified as modified endowment contracts may be subject to tax at the time the loan or withdrawal is made. A federal tax penalty of 10% may also apply if the loan or withdrawal is taken prior to age

7 CONSUMER GUIDE Accumulation SVUL 6 Growth Investment Options Your policy s investment options allow you to develop a strategy that s right for you. Choose from a broad array of investment accounts that represent nearly every major asset class and investment style, or opt for the simplicity and automatic diversification offered by our Lifestyle Portfolios. In either case, you ll benefit from the experience and knowledge of a broad selection of leading asset managers. In addition, you can make tax-free transfers among investment choices and choose the specific investment options from which you want your monthly policy charges taken. You can also enjoy the convenience and control of such features as Dollar Cost Averaging 5 and the Asset Allocation Balancer. Retirement Income Security Individual and business clients who are looking for ways to supplement their retirement income can make significant contributions to an Accumulation SVUL policy. Those contributions grow tax-deferred and can be withdrawn at retirement on a taxfavored basis. Liquidity If you require income to supplement cash flow in retirement or to help support a business, you can take policy withdrawals and/or loans. Partial withdrawals and loans are factored into the cumulative premium test, and will affect the No-Lapse Guarantee calculation. 4 Keep in mind, loans and withdrawals will lower your policy s account value and death benefit, and surrender charges may apply in the early years. Flexibility There are a variety of ways to design your Accumulation SVUL policy so it can meet your specific needs, including: Death Benefit Selection You can choose your death benefit to be level, which means it will stay the same from year to year. Or, you can choose to have your death benefit increase any time your policy value increases, which may be desirable if you have a growing estate or business. Premium Payment Choices Within limits, you may vary your premium payments to fit your budget and objectives. (Of course, a certain minimum is required, and paying less will reduce the length of your No-Lapse Guarantee.) 4 Additionally, you are easily able to catch-up on your No-Lapse Guarantee without penalty or interest by meeting the cumulative premium test. If your primary concern is life insurance protection, you may want to fund your policy to provide lifetime death benefit coverage. If your objective is to maximize the cash value accumulation in your policy, 6 you can increase the amount of your premium payments. Contact your financial advisor for more information and a personalized product illustration.

8 Strength. Stability. John Hancock. John Hancock s strong ratings, as judged by the major rating agencies, are a comprehensive measure of the company s financial strength and stability. This is important because these financial ratings reflect the life insurance company s ability to pay claims in the future. With over 150 years of experience, John Hancock offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents, and distribution partners. 1. Insurance policies and/or associated riders and features may not be available in all states. Some riders may have additional fees and expenses associated with them. Refer to the product prospectus for additional information. 2. Comments on taxation are based on John Hancock s understanding of current tax law, which is subject to change. Please consult your tax adviser for guidelines specific to your situation. 3. Guaranteed product features are dependent upon minimum premium require ments and the claimspaying ability of the issuer. 4. The No-Lapse Guarantee (NLG) is automatically included with Accumulation SVUL. It guarantees that your policy will not default, even if the cash surrender value falls to zero or below, provided the NLG cumulative premium test (performed at the point of lapse) is satisfied. At the end of the No-Lapse Guarantee period, the policy value may be insufficient to keep the policy in force. Thereafter, premiums significantly higher than the No-Lapse Guarantee premium may be required to keep the policy in force. If you pay only the premium to satisfy the No-Lapse Guarantee, you may be foregoing the advantage of building up policy value. Once lapsed, the guarantee cannot be reinstated. The policy owner can catch-up to the NLG premium requirement interest free at any time during the NLG period. At ages 70 and below, the NLG duration is the lesser of 20 years or to age 75; above age 70, the NLG duration is 5 years. The duration of the benefit may be shorter in some states. In Illinois the NLG is called Death Benefit Protection. Loans, withdrawals, or the addition of supplemental coverage can result in the loss of the NLG. 5. Dollar Cost Averaging involves continuous investment in securities regardless of fluctuating price levels of such securities, and the investors should consider the impact of Dollar Cost Averaging investment choices on the overall performance of their portfolio. An investment plan such as Dollar Cost Averaging does not assure a profit and does not protect against loss in declining markets. 6. Be sure to consult with a tax advisor before you change the amount or frequency of pre mium payments, as there may be federal tax consequences. The life insurance policy describes coverage under the policy, exclusions and limitations, what you must do to keep your policy inforce, and what would cause your policy to be discontinued. Please contact your licensed agent or John Hancock for more information, costs, and complete details on coverage. Availability of policies, features, and benefits may vary by state. Please contact to obtain a product and a fund prospectus. (For New York, contact , option 4.) The prospectus contains complete details on investment objectives, risks, fees, charges and expenses as well as other information about the investment company. Please read the prospectuses carefully containing this and other information on the product and the underlying portfolios and consider these factors carefully before investing. Product and/or product features may not be available in all states. Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY and securities offered through John Hancock Distributors LLC through other broker/dealers that have a selling agreement with John Hancock Distributors LLC, 197 Clarendon Street, Boston, MA Policy Form: 07SVUL Rider Form Series: 070LPR2 07ENLGR2 06PERROPR S137-5 V124-6 V432-8 MLINY /13