John Hancock Annuities Enhances Lifetime Withdrawal Benefit

BOSTON, June 29, 2011 /PRNewswire/ -- John Hancock Annuities has enhanced its Income Plus For Life optional rider by increasing the deferral credit for newly issued riders to six percent from five percent at age 65 and older.  The deferral credit increase helps John Hancock to solidify its position as an industry leader for retirement income solutions that focus on flexibility and client value.

In addition to increasing the deferral credit, John Hancock Annuities has also created new underlying Lifestyle portfolios for exclusive use with the new Income Plus For Life optional rider. The diversified portfolios, designated as the Lifestyle PS Series, are designed specifically for use with an automated asset transfer process under the rider. John Hancock's proprietary process, the Portfolio Stabilization Process, is designed to help limit equity exposure in response to decreases in contract value during periods of market volatility.

"We are pleased to increase the competitiveness of our products without increasing our optional rider fees," said Marc Costantini, President, John Hancock Annuities.  "As interest has grown in risk-managed retirement solutions, our new product enhancements provide real client value while also helping us balance the risks that volatile markets potentially could have on a client's retirement savings and the benefits we provide."

"We welcome these new enhancements to our suite of retirement income solutions, and believe they complement the flexibility that is already present in our joint lifetime income option and in our automated programs that allow clients access to earnings under their contracts," added Mike Treske, President, Annuities Distribution.

About Income Plus For Life

The Income Plus For Life optional rider provides guaranteed lifetime income as early as age 59 1/2 and is available for an additional 1.00 percent annual fee (max 1.50 percent).  The income guarantees are backed by the claims-paying ability of John Hancock.  Income Plus For Life can only be elected at issue, is irrevocable, and may not be available in conjunction with other riders, or in qualified plans. Features and availability may vary by state. Only one version can be elected per contract. Additional fees, restrictions, and limitations apply. See the prospectus for full details. It is important to understand that Income Plus For Life is an optional guaranteed minimum withdrawal benefit (GMWB) 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. A GMWB requires clients to choose from a selection of pre-built diversified portfolios available with the variable annuity, requires taking withdrawals to receive certain benefits, contains age caps and limitations at certain ages, and you must be living in order to receive certain benefits.

About John Hancock Financial and Manulife Financial Corporation

John Hancock Financial is a unit of Manulife Financial Corporation (the Company), a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Operating as Manulife Financial in Canada and in most of Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents, and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$478 billion (US$492 billion) as of March 31, 2011.    

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE, and PSE, and under "945" on the SEHK. Manulife Financial is on the Internet at www.manulife.com.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including: life insurance, fixed and variable annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at www.johnhancock.com.

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.

Venture Annuities and the optional riders, which are available for an additional fee, are not available in all states; product features 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. 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, optional benefits, and contract value. In addition, withdrawals of taxable amounts will be subject to ordinary income tax and, if made prior to age 59 1/2, a 10% IRS penalty tax may apply.

This material was prepared to support the promotion and marketing of annuities. John Hancock, its distributors, and their respective representatives do not provide tax, accounting, investment, 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 advisor as to any tax, accounting, investment, or legal statements made herein.

Venture Annuities are issued and administered by John Hancock Life Insurance Company (U.S.A.), Bloomfield Hills, MI, which is not licensed in New York. In New York, Venture Annuities are issued and administered by John Hancock Life Insurance Company of New York, Valhalla, NY. Venture Combination Fixed and Variable Annuities are distributed by John Hancock Distributors LLC, member FINRA.

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SOURCE John Hancock Annuities