IUL Academy: Mastering your Indexed UL sales

**The Index Account options may not be available on all products or in all jurisdictions. The Base Index Account options (Base Capped Index Account and Base High Par Indexed Account) are the only index account options available for policies issued in New York for PIUL’20. For AIUL’21R policies issued in New York, the Base Index Account options (Base Capped Index Account and Base Capped Two Year Indexed Account) are the only index account options available. Please consult each product’s producer guide for index account option availability.

1. Loans and withdrawals will reduce the death benefit and cash surrender value, and may cause the policy to lapse. Lapse or surrender of a policy with a loan may cause the recognition of taxable income. Withdrawals in excess of the cost basis (premiums paid) will be subject to tax, and certain withdrawals within the first 15 years may be subject to recapture tax. Additionally, policies classified as Modified Endowment Contracts may be subject to tax when a loan or withdrawal is made. A federal tax penalty of 10% may also apply if the loan or withdrawal is taken prior to age 59½. Withdrawals are available after the first policy year.  Index loans and Fixed indexed loans are available after the third policy year.

2. Life insurance death benefit proceeds are generally excludable from the beneficiary’s gross income for income tax purposes. There are few exceptions such as when a life insurance policy has been transferred for valuable consideration. Comments on taxation are based on John Hancock’s understanding of current tax law, which is subject to change.

Standard & Poor’s®, S&P®, S&P 500®, Standard & Poor’s 500 and 500 are trademarks of Standard and Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc. John Hancock has been licensed to use the trademarks of S&P Index. The Product is not sponsored, endorsed, sold or promoted by the licensors of the index and they make no representation regarding the advisability of purchasing the Product. You cannot invest directly in the Index.

Neither Barclays Bank PLC ('BB PLC'') nor any of its affiliates (collectively 'Barclays') is the issuer or producer of the John Hancock Life Insurance Company (U.S.A.)’s (the “Company” or the “Issuer”) life insurance products (the “Products”) and Barclays has no responsibilities, obligations or duties to purchasers of the Products. The Barclays Global MA Index (the “Index”) together with any Barclays indices that are components of the Index, is a trademark owned by Barclays and, together with any component indices and index data, is licensed for use by the Company as the issuer or producer of the Products.

Barclays’ only relationship with the Issuer in respect of the Index is the licensing of the Index, which is administered, compiled and published by BB PLC in its role as the index sponsor (the “Index Sponsor”) without regard to the Issuer or the Products or purchasers of the Products. Additionally, the Company as issuer or producer of the Products may for itself execute transaction(s) with Barclays in or relating to the Index in connection with the Products. Purchasers acquire the Products from the Company and purchasers neither acquire any interest in the Index nor enter into any relationship of any kind whatsoever with Barclays upon purchase of the Products. The Products are not sponsored, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of the Products or use of the Index or any data included therein. Barclays shall not be liable in any way to the Issuer, Product purchaser or to other third parties in respect of the use or accuracy of the Index or any data included therein.