Principal Plus For Life - PDF Free Download

The future is yours Important details about Principal Plus For Life More than ever, it is important to partner with a company whose ratings prove they possess the ability to meet the promises they make, both today and in the future. We offer two versions of Principal Plus For Life (PPFL): Companies issuing variable annuities are rated by major agencies. These ratings are reflective of the company s financial strength and claims-paying ability. We at John Hancock believe our disciplined approach toward building our products and portfolio options makes sense in a market designed to help protect your financial assets for life. Principal Plus For Life Plus Automatic Annual Step-Ups The features described below apply to all versions, unless otherwise noted. Not all versions are available in all states. You may choose only one version per contract. Refer to the accompanying or preceding product brochure for complete details as well as the features and benefits of a variable annuity. The benefit base is the amount guaranteed to be available to you for future withdrawals. The benefit base is equal to your payments adjusted for any withdrawal, reset, step-up, or credit. Withdrawals of up to 5% of the initial benefit base, or the benefit base immediately after a credit or step-up, reduce the benefit base on a dollar-for-dollar basis. Since it s possible your retirement may last 30 years or more, your partner of choice should have a reputation for long-term strength and stability. John Hancock is one of the most trusted and respected names in financial services. John Hancock s integrity, stability, and dependability are reflected in solid financial ratings. THE HIGHEST RATING AAA A++ Aa1 AA+ Standard & Poor s: Extremely strong financial security characteristics (1st category of 21) A.M. Best Company: Superior ability to meet ongoing obligations to policyholders (1st category of 16) oody s Investors Service: Excellent M financial security (2nd category of 21) UPGRADED 9/07 Fitch Ratings: Very strong capacity to meet policyholder and contract obligations (2nd category of 24) These ratings, which are current as of the prospectus dated May 2008 and subject to change, are assigned to John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York as a measure of the companies ability to honor any guarantees provided by Venture Variable Annuities and any applicable optional riders, but not specifically to the products, the performance (return) of these products, the value of any investment in these products upon withdrawal, or to individual securities held in any portfolio. Moody s ratings do not apply to John Hancock Life Insurance Company of New York.. the contract value after the withdrawal the benefit base minus the amount of the withdrawal Upon reset of your benefit base, your annual withdrawal amount will be reset. Your new annual withdrawal amount may be less than your prior annual withdrawal amount, and the total amount of your guaranteed payments may be less. Total annual withdrawals in excess of the LIA, when applicable, will result in a similar adjustment to future LIA value. Withdrawals may be subject to withdrawal charges and will reduce the death benefit and optional benefits. Life expectancy distributions The maximum benefit base is $5,000,000 on any one contract. Under certain circumstances, you may withdraw more than your annual withdrawal amount or LIA without resetting your benefit base as described above. These exceptions are generally related to substantially equal periodic payments that are made pursuant to various Internal Revenue Code sections commonly referred to as Required Minimum Distributions and Stretch programs. Restrictions apply; please see the prospectus for complete details. Annual withdrawal amount Availability The annual withdrawal amount is the amount guaranteed to be available for withdrawal each contract year until the benefit base is depleted. The initial annual withdrawal amount is equal to 5% of the initial benefit base. The annual withdrawal amount may be adjusted for excess withdrawal, step-up, or credit. If total annual withdrawals remain less than or equal to the annual withdrawal amount, then, at a minimum, return of payments is guaranteed to you and your beneficiaries. The (LIA) is the amount guaranteed to be available for withdrawals each year for as long as the oldest contract owner is alive. The initial LIA is equal to 5% of the benefit base on the contract anniversary prior to the contract owner s attaining age 591/2, or equal to the initial annual withdrawal amount if the contract is issued prior to the owner attaining age 591/2. The LIA may be adjusted for any excess withdrawal, step-up, or credit. If total annual withdrawals exceed the LIA, then future LIA payments may be reduced. Step-Up Step-ups can automatically increase the total amount of your guaranteed withdrawals if your contract value is higher than your benefit base on eligible step-up dates. Step-ups are always available on the 3rd, 6th, and 9th contract anniversary, and then annually up to age 95. PPFL Plus Automatic Annual Step-Ups offers step-up opportunities beginning at the end of year one, until age 95. Upon a step-up, your annual withdrawal amount (and LIA after age 591/2) for Classic and Automatic Annual Step-Ups is reset and may be higher than its previous value. The rider fee will be based on the stepped-up value. credit During the first ten contract years, if no withdrawals are taken during a particular year, then the benefit base will increase on the following contract anniversary by an amount equal to 5% of your contract s total payments. If your contract value and your benefit base steps up, you will receive an additional set of ten credits. The credit calculation is adjusted to reflect step-ups and resets that have occurred in the previous year, as described in the prospectus. Upon a credit, your annual withdrawal amount (and LIA after age 591/2) is reset and will be higher than its previous value. Withdrawal in excess of annual withdrawal amount or LIA You may withdraw amounts greater than the annual withdrawal amount or LIA, respectively, in any year. Withdrawing more than the annual withdrawal amount will reset the benefit base to the lesser of: Principal Plus For Life is irrevocable. It cannot be canceled at a later date. Only one version of the rider can be elected at issue. PPFL is available when the owner has not yet attained age 81 at issue.* If it is elected on a 403(b) contract, no loans may be taken from the contract. Prior company approval is required on any payment which causes the contract value to exceed $1,000,000. When PPFL is elected, prior company approval is required on any subsequent payments which exceed $100,000 or cause the total of all additional payments received to exceed $100,000, except for payments received prior to the first contract anniversary and payments received for qualified contracts prior to the owner s attaining age 591/2. Limitations on payments may vary by state. Additional payments may not be made on qualified contracts after the oldest owner attains age 81. Fees An additional annual fee applies if you elect a PPFL rider. The fee is based on the adjusted benefit base and is deducted from the contract value on the anniversary. The fee is in addition to all contract and asset management-related fees. Upon step-up, the fee may increase to an annual maximum. The step-up may be declined if the fee is raised and the previous benefit base retained. may vary, subject to state regulation. Variable annuities are not FDIC insured, are long-term contracts designed for retirement purposes, and are subject to investment risk, including the possible loss of principal. Optional Guaranteed Minimum Withdrawal Benefit For use with policy form number series VENTURE.100 and BR001.06, BR001.06-NY. Individual contract form numbers may vary depending on state of issue. This brochure was prepared to support the promotion and marketing of Venture Annuities. Neither John Hancock Life Insurance Company (U.S.A.), John Hancock Life Insurance Company of New York, John Hancock Distributors LLC, nor any of their representatives provide tax, accounting, 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 financial advisor as to any tax, accounting, or legal statements made herein. Venture Combination Fixed and Variable Annuities are distributed by John Hancock Distributors LLC, member FINRA. Venture is a registered service mark of John Hancock Life Insurance Company (U.S.A.) and is used under license by John Hancock Life Insurance Company of New York. Contact your financial advisor or visit www.jhannuities.com for more information, including product and fund prospectuses that 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. * Individual broker/dealer may restrict issue age on annuity policy. PPFL Plus Automatic Annual Step-Ups fee is 0.55% (1.20% maximum); PPFL Classic fee is 0.40% (0.75% maximum). Additional fees apply for Venture Annuities. The variable account asset fees vary by product: Venture, 1.15% (1.00% in years 8+); Venture Vantage, 1.55%; Venture III, 1.65%; Venture Vision, 1.70%. Other fees include asset management-related expenses and the annual administration fee (this does not apply to Venture III or Venture Vision, and is waived for contracts over $100,000). It is important to understand that Principal 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. Annuity contracts contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. Your licensed financial advisor can provide you with the costs and complete details. Venture Annuities and the optional riders, which are available for an additional fee, are not available in all states; product features Issuer and Administrator John Hancock Life Insurance Company (U.S.A.), Bloomfield Hills, MI (not licensed in NY) New York: John Hancock Life Insurance Company of New York, Valhalla, NY Lifetime withdrawals that can span generations 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 2008 All rights reserved. 483175.LOT2.CS3.indd 1 Principal Plus For Life 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 and optional benefits. In addition, withdrawals of taxable amounts will be subject to ordinary income tax and, if made prior to age 591/2, a 10% IRS penalty tax may apply. Past performance is no guarantee of future results. 0608:1304195 Issued by John Hancock Life Insurance Company (U.S.A.) John Hancock Life Insurance Company of New York 5/30/08 2:20:57 PM

Predictable and sustainable retirement income. At a glance... There are two versions of the rider: Principal Plus For Life Plus Automatic Annual Step-Ups Principal Plus For Life can provide regular, guaranteed income for life, while allowing you to retain control over the assets in your annuity contract s portfolio, and your income can potentially pass on to your beneficiaries. Guaranteed lifetime withdrawals beginning at age 59 1 /2 5% annual deferral credits Automatic step-up opportunities through age 95 A benefit base that can pass to beneficiaries Annual fee of 0.55% (max 1.20%) for Principal Plus For Life Plus Automatic Annual Step-Ups, 0.40% (max 0.75%) for Principal Plus For Life Classic The guarantees are backed by the financial strength and claims-paying ability of John Hancock Life Insurance Company (U.S.A.) When you elect Principal Plus For Life, you establish a benefit base equal to the initial value of your contract. If your withdrawals do not exceed 5% of the benefit base in any year, at a minimum, every penny you put into the contract will be returned, with the opportunity for higher payments because of good market performance, or deferral credits for waiting to take income. At age 59 1 2, payments are guaranteed to last for the life of the oldest owner. If you pass away before your entire benefit base has been returned, your beneficiaries can receive all remaining benefit base withdrawals or the contract s underlying death benefit, whichever is greater. Your benefit base may increase if your portfolios perform well, or if you wait at least one year before taking a withdrawal. Your benefit base may decrease if you withdraw more than 5% in any year. Annual withdrawal amounts are not cumulative from year to year. Withdrawals will first be taken from any contract gains. Withdrawals of taxable amounts from a variable annuity are subject to ordinary income tax and, if made prior to age 59 1 2, may be subject to a 10% IRS penalty tax. All withdrawals reduce the contract value, death benefit, and other optional benefits. If you want to add Principal Plus For Life to your Venture Variable Annuity, you must make your election at the time your contract is issued, and election is irrevocable. See the prospectus for more details. $500K Sustainable withdrawals for you... your spouse... your children If the market underperforms......you still receive sustainable withdrawals...for the rest of your life...and they can pass to your beneficiaries. $25,000/year for life $0 For illustrative purposes only. A hypothetical $500,000 Venture Variable Annuity with Principal Plus For Life would guarantee withdrawals of $25,000 per year for at least 20 years returning all the principal no matter what happened to the market value of the contract. If the owner dies, the beneficiary may receive the remaining guaranteed withdrawals or the contract s underlying death benefit. If the oldest owner is still alive after all payments have been returned, guaranteed withdrawals will continue for as long as the owner remains alive even if the contract value equals zero. is based on the benefit base on the contract anniversary after you reach age 59 1 /2. This chart does not include the effect of taxes at the ordinary income tax rate, which may be incurred on withdrawals. Not FDIC Insured Not Bank Guaranteed May Lose Value Not a Deposit Not Insured by Any Federal Government Agency

.................................................................................................................................. with two opportunities to potentially increase your withdrawals 1 A 5% deferral credit if you don t need income right away If you don t take withdrawals immediately, you will receive a credit that can increase your total benefit base, and increase the amount you receive each year once you begin withdrawals. A credit automatically your benefit base by 5% per year in any of the first ten years of your contract that you do not take a withdrawal. If you step up, your credits can reset and you will receive ten additional credits prior to age 95. The credit applies to the benefit base and not the contract value. 2Step-ups can lock in higher income payments in retirement if markets rise Principal Plus For Life lets you automatically step up your benefit base on eligible anniversaries until age 95. On any anniversary, if your contract value is higher than your current benefit base, your benefit base will step-up to equal the current contract value. This can result in higher guaranteed withdrawals. Principal Plus For Life Plus Automatic Annual Step-Ups provides step-up opportunities every contract anniversary until age 95, while Principal Plus For Life Classic offers step-up opportunities in contract years 3 and 6, and annually from year 9 until age 95. Upon step-up, the annual withdrawal amount is reset and may be higher than its previous value. The Principal Plus For Life fee will be based on the step-up value. John Hancock may increase the annual rider fee if a step-up occurs. If this occurs, you may decline the step-up and retain your previous benefit base and fee. 5% deferral credit is added in every year during the first ten years that a withdrawal is delayed $500K Benefit Base $525K $550K $575K $600K $625K $650K $675K $700K $725K $750K $25K $26.25K $27.5K $28.75K $30K $31.25K $32.5K $33.75K $35K $36.25K $37.5K Initial After 1 2 3 4 5 6 7 8 9 10 or later Years For illustrative purposes only. A $500,000 contract with Principal Plus For Life will provide guaranteed annual withdrawals of $25,000 for 20 years if withdrawals begin in year one. An additional 5% credit is added in each of the first ten contract years where no withdrawals are taken in that contract year, up to annual withdrawals of $37,500 for withdrawals beginning after year 10, provided you are age 95 or younger in that year. For example, if you wait one full year before taking withdrawals, you can take up to $26,250 for 20 years. After two full years have passed, you may withdraw $27,500 per year. Withdrawal percentages are not cumulative from year to year. Lock in gains reload credit opportunities Contract Value Benefit Base Deferral Credit 1 STEP-UP Lifetime Income Amount.................................. 2 In years when the contract value falls, a 5% deferral credit can still increase your benefit base and Lifetime Income Amount Asset Allocation Trust STEP-UP The deferral credit, based on the most recent step-up, can STEP-UP Lifetime Income Amount Deferral credit opportunities reset 10 years 0 1 2 3 4 5 Years 3 Step-up opportunities last through age 95 and can create higher annual withdrawals For illustration only. Not based on any specific portfolio. Actual performance will vary and fees will apply. Step-ups only occur when contract value on current contract anniversary exceeds previous anniversary values. Dimensional Fund Advisors T.Rowe Capital Appreciation is only used to determine Disciplined withdrawal Diversification amount and rider fee and may not be withdrawn as a lump sum. In markets with a 0% rate of return, no step-up will be given. 4 Wellington Core still Allocation increase Plus the Lifetime benefit base Income and Lifetime Amount Income Amount Deferral credit opportunities reset 10 years Fundamental Holdings of America 5...................................................... American Fun American Asse Money Mark

Flexible options to invest your retirement assets You must choose from the investment options that follow when you elect a Principal Plus For Life rider. The portfolios below may be combined in any percentage in your contract. Standard & Poor s has approved Venture Annuities Selection and Monitoring process as of 9/30/07 BROAD DIVERSIFICATION Lifestyle Conservative Lifestyle Moderate Lifestyle Balanced Lifestyle Growth Lifestyle Portfolios With over 10 years of proven experience and results, JHT Lifestyle Portfolios are broadly diversified by both asset class and manager, and constructed using a Asset Allocation Trust state-of-the-art, 4-step process. 20% Stock Funds 40% Stock Funds Fundamental Holdings of America 80% Bond Asset Allocation 60% Trust Bond Funds 60% Stock Funds 40% Bond Funds 80% Stock Funds 20% Bond Funds Visit www.jhannuities.com for the current Lifestyle Portfolio combinations. FOCUSED DIVERSIFICATION OTHER OPTIONS American Asset Allocation American Global Diversification American Fundamental Holdings Disciplined Diversification Index Allocation Portfolio 13.7% Wellington Non-U.S. Core Allocation StocksPlus 51.5% U.S. Stocks Allocation Trust 12.4% Cash & Equivalents 2.1% Non-U.S. Bonds 20.3% U.S. Bonds 15% American Global Small Cap 5% American New World 50% American Global Growth 20% American Bond 10% American High-Income Bond 15% American International 41% Non-U.S. Stocks MFC Global Franklin Templeton 25% Growth 29% American U.S. Stocks Funds Founding Allocation 25% Asset American Allocation Growth-Income Trust Fundamental Holdings of America 30% U.S. Bonds 35% American Bond Money Market Trust As of 3/31/08. Holdings may change. 10% Mid Cap Index American 10% Funds Small Cap Index American 15% Asset International Allocation Equity Trust Index 35% S&P 500 Index 30% Total Bond Market B Franklin Templeton Founding Allocation Capital Appreciation Value Core Allocation Plus Money Market Dimensional Fund Advisors Disciplined Diversification T.Rowe Capital Appreciation Wellington Core Allocation Plus t Trust 33.3% MFC Global Templeton Franklin Global Templeton 33.3% Founding Mutual Allocation Shares 33.3% Franklin Income 1.3% Non-U.S. Stock 68.0% U.S. Stocks 12.7% Cash & Equivalents 18.0% U.S. Bonds 15% Wellington Non-U.S. Core Stocks Allocation Plus 55% U.S. Stocks 30% U.S. Bonds 100% Money Market MFC Global Franklin Investments in the Money Market Founding portfolio Allocation are not insured or guaranteed by the Federal Deposit Insurance Corporation, U.S. Money government, Market Trust or any U.S. government agency. There is no guarantee that the portfolio can maintain a stable net asset value of $10 per share. Asset allocation, diversification, or rebalancing does not ensure a profit or protection against loss. Stocks of small or emerging companies have less liquidity than those of larger, established companies and are subject to greater price volatility and risk than the overall stock market. Foreign investments involve risks and opportunities different from domestic investments, such as currency rate fluctuations and differences in financial reporting. Bonds, if held to maturity, provide a fixed rate on return and a fixed principal value. Bond funds fluctuate and shares, when redeemed, may be worth more or less than their original cost. Please note that asset allocation may not Wellington be appropriate Core Allocation for all investors, Plus particularly those interested in directing Dimensional the underlying Fund Advisors investment options of their T.Rowe annuity Capital contract Appreciation on their own. Investors should review the prospectus carefully for further information. Disciplined Diversification Wellington Core Alloc The Index Allocation Portfolio is not sponsored, endorsed, managed, advised, sold, or promoted by any of the respective companies that sponsor the broad-based securities market index, and none of these companies make any representation regarding the advisability of investing in the Trust. The investment options cannot guarantee that they will achieve their objectives. Investing in these options is subject to risks, including the risk that you may lose money. Differences in portfolio size, investment holdings, contract and fund expenses, and other factors are expected to contribute to differences in the portfolio s performance. The Standard & Poor s Quality Evaluation designation is earned based on an annual assessment of the variable investment options and includes factors such as performance results, style consistency, management tenure, and costs. It was awarded most recently for the 12-month period ended September 30, 2007.