JOHN HANCOCK VARIABLE ANNUITY ACCOUNT H
SUPPLEMENT DATED MARCH 15, 2000
TO
PROSPECTUS DATED AUGUST 10, 1999
NEW YORK ONLY
Notwithstanding any language in the prospectus to the contrary, the following
shall apply with respect to REVOLUTION VALUE VARIABLE ANNUITY contracts
delivered or issued for delivery in New York:
(a) The maximum annual contract fee is $30 each year.
(b) The waiver of withdrawal charge rider described on page 24 is not
available.
(c) If the annuitant dies before your contract's date of maturity, the
"standard" death benefit is the greater of the total value of your
contract (without adjustment by any then-applicable market value
adjustment), or the total amount of premium payments made (minus any
partial withdrawals and related withdrawal charges).
(d) The enhanced death benefit rider described on page 27 is not available.
Instead, if you are under age 80 when you apply for your contract, you
may elect to enhance the standard death benefit by purchasing a "one
year stepped-up" death benefit rider. Under this rider, if the
annuitant dies before the contract's date of maturity, we will pay the
beneficiary the greater of (i) the standard death benefit, or (ii) the
highest total value of your contract as of any anniversary of your
contract to date (prior to the anniversary of the contract nearest the
annuitant's 81st birthday), plus any premium payments you have made
since that anniversary, minus any withdrawals you have taken (and any
related withdrawal charges) since that anniversary. We count only those
contract anniversaries that occur before we receive proof of death. We
charge a separate monthly charge for this rider at the beginning of
each month. The charge is 1/12th of an annual percentage equal to 0.15%
of your contract's total value. For a more complete description of the
terms and conditions of this benefit, you should refer directly to the
rider. We will provide you with a copy on request. This rider (and
related charges) will terminate on the contract's date of maturity,
upon your surrendering the contract, or upon your written request that
we terminate it.
(e) The accumulated value enhancement and guaranteed retirement income
benefit described on pages 28 and 29 are not available.
(f) If you return your contract for any reason within 10 days after you
receive it, we will pay you the value of your contract, increased by
any charges deducted from your premium payments before allocation to
the variable investment options, and with no adjustments for the market
value adjustment. If your contract has no value, we will pay you at
least the amount we reserved for future liability under the contract.
(g) We will notify you of the end of a guarantee period at least 45 days
prior to its expiration. If you select a guarantee period that extends
beyond your contract's date of maturity, your maturity date will
automatically be changed to the annuitant's 90th birthday.
(h) A market value adjustment will not apply to death benefits pursuant to
your contract.
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(i) The factor we use to compute the market value adjustment is expressed
by the following formula:
n
--
1 + g 12
[--------------] - 1
1 + c + .0025
(j) In Sample Calculation 1: Positive Adjustment, shown on pages 50 and 51,
the Market value adjustment is:
60
--
1 + 0.08 12
11,664 x [ ( ---------------- ) - 1 ] = 413.58
1 + 0.07 + .0025
The amount withdrawn or transferred (adjusted for market value
adjustment) is $11,664 + $413.58 = $$12,077.58
(k) In Sample Calculation 2: Negative Adjustment, shown on page 51, the
Market value adjustment is:
60
--
1 + 0.08 12
11,664 x [ ( ---------------- ) - 1 ] = 652.18
1 + 0.09 + .0025
The amount withdrawn or transferred (adjusted for market value
adjustment) is $11,664 - $652.18 = $11,011.82
(l) In Sample Calculation 3: Positive Adjustment Limited by Amount of
Excess Interest, shown on page 52, the Market value adjustment is:
60
--
1 + 0.08 12
11,664 x [ ( ---------------- ) - 1 ] = 1,605.54
1 + 0.05 + .0025
Since the market value adjustment exceeds the amount of excess interest
of $1,055, the actual market value adjustment is $1,055.
(m) In Sample Calculation 4: Negative Adjustment Limited by Amount of
Excess Interest, shown on pages 52 and 53, the Market value adjustment
is:
60
--
1 + 0.08 12
11,664 x [ ( ---------------- ) - 1 ] = 1,142.61
1 + 0.10 + .0025
Since the market value adjustment exceeds the amount of excess interest
of $1,055, the actual market value adjustment is -$1,055.