In addition, you may have purchased a Contract with an optional benefit Rider that will enhance the amount of death benefit. In New York, John Hancock Annuities are issued by John Hancock Life Insurance Company of New York, Valhalla, NY 10595. It is our belief that accepting the Offer with the Enhancement Amount would, therefore, cause a Prior to accepting the Offer, you should understand that you are giving up your PPFL Rider and any Guaranteed Death Benefit(s) you have under the Contract. We believe that this Offer may be mutually beneficial to us and Eligible Contract Owners who no longer need or want the guarantees provided by the PPFL Rider 860 0 obj
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of all the things that you may want or need to consider in deciding whether to accept the Offer. death benefits (the Guaranteed Death Benefits): Standard Death Benefit, which is included under the Contract for no additional charge; Guaranteed Earnings Multiplier (GEM), which was elected at issue for an additional charge; and/or for more information. A��:eπG0m�G��O;�kd�B��c ��N�Z�����%����
Any earnings, including the Enhancement Amount, would constitute ordinary taxable income to such an Owner in the year credited to the Contract.
Upon acceptance of this Offer, in addition to all Rider charges being terminated, your Contract will no longer be subject to: restrictions on Additional Purchase Payments under your Upon accepting the Offer, the charges for the PPFL Rider will no longer be deducted from your Contract Value. written notice and proof of death, as well as all required claims forms in Good Order from all Beneficiaries, at our Annuities Service Center. ֠mi50/�t�T|�钗�k,W�-�V�᧴`&z̟������d&%��+m�ƨoM���Z�`#Wp����.�*tp�1+�2)��h����1X�2ip�-�Ij৴E�x�f�����:\Z��ޒ��Ro)h�K���1ڨAT $�K^d�k�y��Ӹ�;C����Y��R�ѥ�y籇p��v����m�0���Y��B�Х�K���]op���p��
�@���,}�ˀK�V����ɣO��]�H���W��z����o���˗Wg痯���'_�0�a��g���������=V����v����%��*�t��8���y�gr�-�\�r�E��|�ʅ.�\�r�ʅ/�\�r!-[%��e�O��r�r��u��ҫM20�{�1�{��! If you wish to If you are currently enrolled in the Dollar Cost Averaging or Asset Rebalancing Programs, accepting this Offer will not affect those Programs. It endstream
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Enhanced Earnings Death Benefit, which was elected at issue for an additional charge. The Nationwide Group Retirement Series includes unregistered group fixed and variable annuities issued by Nationwide Life Insurance Company. This exception does not include any employer who is the nominal owner of an If you would like a copy of the Annuity Prospectus please contact our Annuities Service Center at 1-800-528-0198 to request a free copy or log in *Subject to prior approval if your Contract Value exceeds $1 million at the time of Prospectus, we will provide a payment equal to 40% of the appreciation in Contract Value upon the death of the Contract Owner if the oldest Owner is 69 or younger at issue, and 25% if the oldest Owner is 70 or older at issue.With this benefit, upon the death of any Contract Owner prior to the Owner/Annuitants life expectancy (based on sex and age, except where prohibited by law); should refer to your Offer Letter for the specific Offer Period in your state.
We will determine the Enhancement Amount, if any, that we will add to your Contract Value upon your acceptance of the Offer. The penalty tax for the prior payments, plus interest, becomes due for the year in which the modification occurs. •John Hancock will issue Form 1099-R with an age-based distribution code. SCHEDULE A PRINCIPAL PLUS FOR LIFE SERIES RIDERS AND GUARANTEED DEATH BENEFITS The PPFL Series Riders provide a The Standard Death Benefit, which guarantees your Purchase Payments less any withdrawals and 940 0 obj
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This means your financial professionals compensation might increase based on your higher Contract Value.This Offer may be beneficial for some but not for others. with other Contract earnings, federal income tax on any Enhancement Amount will be deferred until it is distributed from the Contract or you assign or pledge an interest in your Contract.