AS
● Terminated
Annual Step-Up Death Benefit
John Hancock Life Insurance Company of New York
DTCC ID
—
COMPANY
John Hancock Life Insurance Company of New York
INCEPTION
—
CLOSED
Dec 31, 2005
Identity
Benefit name
Annual Step-Up Death Benefit
Internal benefit name
Annual Step-Up Death Benefit
Status
● Terminated
Inception date
—
Closed date
31 Dec 2005
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 81st birthday.