AS
● Terminated
Annual Step-Up Death Benefit
John Hancock Life Insurance Company (U.S.A.)
DTCC ID
—
COMPANY
John Hancock Life Insurance Company (U.S.A.)
INCEPTION
—
CLOSED
Oct 08, 2011
Identity
Benefit name
Annual Step-Up Death Benefit
Internal benefit name
Annual Step-Up Death Benefit
Status
● Terminated
Inception date
—
Closed date
08 Oct 2011
Description & Notes
Benefit description
Available during accumulation phase. Upon death of owner, benefit will be greater of - 1) basic death benefit; or 2) Annual Step-Up Death Benefit. Basic death benefit is equal to greater of - 1) contract value; or 2) total purchase payments adjusted for withdrawals. Annual Step-Up Death Benefit is equal to highest anniversary value calculated on any contract anniversary, prior to owner's 75th birthday (81 for state CA, GU, IL and PR). For state CA, GU, IL and PR owner must not be age 80 or older.