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JOHN HANCOCK VARIABLE ANNUITY ACCOUNT H
SUPPLEMENT DATED NOVEMBER 1, 2000
TO
PROSPECTUSES DATED NOVEMBER 1, 2000
FLORIDA ONLY
Notwithstanding any language in the prospectus to the contrary, the following
shall apply with respect to REVOLUTION, REVOLUTION EXTRA, REVOLUTION VALUE and
REVOLUTION ACCESS VARIABLE ANNUITY contracts delivered or issued for delivery in
Florida:
1 The waiver of withdrawal charge rider described in response to the question
"How can I withdraw money from my contract?" DOES NOT provide a waiver of
withdrawal charges if a "covered person" has been diagnosed with a critical
illness. The waiver of withdrawal charge rider DOES provide benefits if a
"covered person" satisfies the three conditions listed in the prospectus,
subject to the terms and conditions of this benefit.
2 The accumulated value enhancement described in response to the question "What
other benefits can I purchase under a contract?" is NOT available.
3 Our disclosure of the calculation of the Market Value Adjustment ("MVA") in
the Additional Information - "How the guarantee periods work" section of the
prospectus is revised as follows:
We compare
o the guaranteed rate of the guarantee period from which the assets are being
taken with
o the guaranteed rate we are currently offering for guarantee periods of the
same duration as remains on the guarantee period from which the assets are being
taken.
If the first rate exceeds the second by more than 1/4%, the market value
adjustment produces an increase in your contract's value.
If the first rate does not exceed the second by at least 1/4%, the market value
adjustment produces a decrease in your contract's value.
o We will calculate the MVA under a different formula then the formula shown in
Appendix A. The factor we will use to compute the MVA is expressed by the
following formula:
where,
o g is the guaranteed rate in effect for the current guarantee period.
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o c is the current guaranteed rate in effect for new guarantee periods with
duration equal to the number of years remaining in the current guarantee period.
If the time remaining in the Guarantee Period is not a whole number of years,
then the rate will be interpolated between the current guaranteed rates we offer
for new guarantee periods from the closest durations. If we are not currently
offering new guarantee period(s), we will use a curent guaranteed rate equal to
the most recent U.S. Treasury yield plus 1% for the applicable duration, at the
time current guaranteed rates are set.
o n is the number of complete months from the date of withdrawal to the end of
the current guarantee period. (If less than one complete month remains, n
equals one unless the withdrawal is made on the last day of the guarantee
period, in which case no adjustment applies.)
o In Appendix A, Sample Calculation 1: Positive Adjustment, the Market value
adjustment is:
The amount withdrawn or transferred (adjusted for market value adjustment)
is
$11,664 + $413.58 = $12,077.58
o In Appendix A, Sample Calculation 2: Negative Adjustment, the Market value
adjustment is:
The amount withdrawn or transferred (adjusted for market value adjustment) is
$11,664 - $652.18 = $11,011.82
o In Appendix A, Sample Calculation 3: Positive Adjustment Limited by Amount of
Excess Interest, the Market value adjustment is:
Since the market value adjustment exceeds the amount of excess interest of
$1,055, the actual market value adjustment is $1,055.
o In Appendix A, Sample Calculation 4: Negative Adjustment Limited by Amount of
Excess Interest, the Market value adjustment is:
Since the market value adjustment exceeds the amount of excess interest of
$1,055, the actual market value adjustment is -$1,055.
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