<PAGE> 1
SUPPLEMENT TO PROSPECTUS
FOR THE MANUFACTURERS LIFE INSURANCE COMPANY OF AMERICA
SEPARATE ACCOUNT THREE
DATED MAY 10, 1999
(Applicable only to Policies Sold in New Jersey)
PREMIUM CHARGE
The section entitled "Premium Charge" under "Charges and Deductions" is amended
and restated as follows:
During the first 10 Policy Years, Manufacturers Life of America deducts a
premium charge from each premium payment, equal to 6.6% of the premium.
Thereafter the premium charge is equal to 3.6% of the premium (on a
non-guaranteed basis). The premium charge is designed to cover a portion of the
Company's acquisition and sales expenses and premium taxes. Premium taxes vary
from state to state, ranging from 0% to 3.5%.
ILLUSTRATIONS
Appendix A (Sample Illustrations of Policy Values, Cash Surrender Value and
Death Benefit) is revised as follows:
The illustrations reflecting maximum charges have been revised to reflect a 6.6%
premium charge for all years. The revised illustrations are attached .
SUPPLEMENT DATED OCTOBER 15, 1999
VUL99.SUPP10/99
<PAGE> 2
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICY
MALE NON-SMOKER ISSUE AGE 35 (STANDARD)
$500,000 FACE AMOUNT DEATH BENEFIT OPTION 1
$2,260 ANNUAL PLANNED PREMIUM
ASSUMING CURRENT CHARGES
<TABLE>
<CAPTION>
0% Hypothetical 6% Hypothetical 12% Hypothetical
Gross Investment Return Gross Investment Return Gross Investment Return
------------------------------ ----------------------------- -------------------------------
End Of Cash Cash Cash
Policy Accumulated Policy Surrender Death Policy Surrender Death Policy Surrender Death
Year(1) Premiums(2) Value Value(3) Benefit Value Value(3) Benefit Value Value(3) Benefit
- ------- ----------- ------ --------- ------- ------ --------- ------- ------ --------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 2,373 944 0 500,000 1,032 0 500,000 1,121 0 500,000
2 4,865 2,028 0 500,000 2,269 0 500,000 2,522 0 500,000
3 7,481 3,037 0 500,000 3,500 0 500,000 4,005 0 500,000
4 10,228 4,001 407 500,000 4,755 1,160 500,000 5,609 2,015 500,000
5 13,112 4,951 1,948 500,000 6,064 3,061 500,000 7,379 4,376 500,000
6 16,141 5,828 3,415 500,000 7,371 4,959 500,000 9,269 6,857 500,000
7 19,321 6,627 4,805 500,000 8,669 6,848 500,000 11,286 9,465 500,000
8 22,660 7,379 6,148 500,000 9,989 8,759 500,000 13,476 12,245 500,000
9 26,166 8,121 7,480 500,000 11,368 10,728 500,000 15,891 15,251 500,000
10 29,847 8,845 8,796 500,000 12,801 12,752 500,000 18,550 18,501 500,000
11 33,713 9,584 9,584 500,000 14,350 14,350 500,000 21,575 21,575 500,000
12 37,771 10,234 10,234 500,000 15,892 15,892 500,000 24,845 24,845 500,000
13 42,033 10,786 10,786 500,000 17,416 17,416 500,000 28,377 28,377 500,000
14 46,508 11,233 11,233 500,000 18,917 18,917 500,000 32,196 32,196 500,000
15 51,206 11,584 11,584 500,000 20,399 20,399 500,000 36,340 36,340 500,000
16 56,139 11,850 11,850 500,000 21,873 21,873 500,000 40,858 40,858 500,000
17 61,319 12,044 12,044 500,000 23,353 23,353 500,000 45,806 45,806 500,000
18 66,758 12,168 12,168 500,000 24,837 24,837 500,000 51,231 51,231 500,000
19 72,469 12,243 12,243 500,000 26,351 26,351 500,000 57,210 57,210 500,000
20 78,466 12,284 12,284 500,000 27,908 27,908 500,000 63,819 63,819 500,000
21 84,762 12,115 12,115 500,000 29,336 29,336 500,000 70,962 70,962 500,000
22 91,373 11,762 11,762 500,000 30,653 30,653 500,000 78,728 78,728 500,000
23 98,315 11,214 11,214 500,000 31,844 31,844 500,000 87,181 87,181 500,000
24 105,603 10,437 10,437 500,000 32,868 32,868 500,000 96,376 96,376 500,000
25 113,256 9,409 9,409 500,000 33,693 33,693 500,000 106,385 106,385 500,000
26 121,292 8,094 8,094 500,000 34,277 34,277 500,000 117,281 117,281 500,000
27 129,730 6,447 6,447 500,000 34,561 34,561 500,000 129,141 129,141 500,000
28 138,589 4,431 4,431 500,000 34,494 34,494 500,000 142,066 142,066 500,000
29 147,892 2,014 2,014 500,000 34,028 34,028 500,000 156,178 156,178 500,000
30 157,659 0(4) 0(4) 0(4) 33,095 33,095 500,000 171,605 171,605 500,000
31 167,915 31,646 31,646 500,000 188,519 188,519 500,000
32 178,684 29,593 29,593 500,000 207,094 207,094 500,000
33 189,991 26,835 26,835 500,000 227,534 227,534 500,000
34 201,864 23,265 23,265 500,000 250,085 250,085 500,000
35 214,330 18,756 18,756 500,000 275,035 275,035 500,000
36 227,420 13,158 13,158 500,000 302,724 302,724 500,000
37 241,164 6,234 6,234 500,000 333,537 333,537 500,000
38 255,595 0(4) 0(4) 0(4) 367,971 367,971 500,000
39 270,747 406,629 406,629 500,000
40 286,658 450,242 450,242 500,000
41 303,364 499,533 499,533 524,509
42 320,905 554,123 554,123 581,829
43 339,323 614,319 614,319 645,035
44 358,662 680,669 680,669 714,702
45 378,968 753,768 753,768 791,456
46 400,290 834,262 834,262 875,975
47 422,677 922,854 922,854 968,996
48 446,184 1,020,304 1,020,304 1,071,319
49 470,866 1,127,437 1,127,437 1,183,809
</TABLE>
<PAGE> 3
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50 496,783 1,245,127 1,245,127 1,307,383
51 523,995 1,374,310 1,374,310 1,443,026
52 552,568 1,516,032 1,516,032 1,591,833
53 582,569 1,671,381 1,671,381 1,754,950
54 614,071 1,841,520 1,841,520 1,933,596
55 647,147 2,027,698 2,027,698 2,129,083
56 681,877 2,231,266 2,231,266 2,342,829
57 718,344 2,457,329 2,457,329 2,555,622
58 756,634 2,709,109 2,709,109 2,790,383
59 796,839 2,990,416 2,990,416 3,050,224
60 839,054 3,305,765 3,305,765 3,338,822
61 883,380 3,660,531 3,660,531 3,660,531
62 929,922 4,053,131 4,053,131 4,053,131
63 978,791 4,487,601 4,487,601 4,487,601
64 1,030,104 4,968,405 4,968,405 4,968,405
65 1,083,982 5,500,485 5,500,485 5,500,485
</TABLE>
(1) All values shown are as of the end of the policy year indicated, have been
rounded to the nearest dollar, and assume that (a) premiums paid after the
initial premium are received on the policy anniversary, (b) no policy loan
has been made, (c) no partial withdrawal of the Cash Surrender Value has
been made and (d) no premiums have been allocated to the Fixed Account.
(2) Assumes net interest of 5% compounded annually.
(3) Provided the No Lapse Guarantee Cumulative Premium Test has been and
continues to be met, the No Lapse Guarantee will keep the Policy in force
until the end of the first 10 Policy Years.
(4) In the absence of additional premium payments, the Policy will lapse.
THE POLICY VALUE, CASH SURRENDER VALUE AND THE DEATH BENEFIT WILL DIFFER IF
PREMIUMS ARE PAID IN DIFFERENT AMOUNTS OR FREQUENCIES. IT IS EMPHASIZED THAT THE
HYPOTHETICAL INVESTMENT RETURNS ARE ILLUSTRATIVE ONLY, AND SHOULD NOT BE DEEMED
A REPRESENTATION OF PAST OR FUTURE RESULTS. ACTUAL INVESTMENT RETURNS MAY BE
MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING
THE INVESTMENT ALLOCATION MADE BY THE POLICYOWNER, AND THE INVESTMENT RETURNS
FOR THE FUNDS OF MANUFACTURERS INVESTMENT TRUST. THE POLICY VALUE, CASH
SURRENDER VALUE AND DEATH BENEFIT FOR A POLICY WOULD BE DIFFERENT FROM THOSE
SHOWN IF ACTUAL RATES OF INVESTMENT RETURN AVERAGED THE RATE SHOWN ABOVE OVER A
PERIOD OF YEARS, BUT ALSO FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL
POLICY YEARS. NO REPRESENTATIONS CAN BE MADE THAT THESE HYPOTHETICAL RATES OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
<PAGE> 4
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICY
MALE NON-SMOKER ISSUE AGE 35 (STANDARD)
$500,000 FACE AMOUNT DEATH BENEFIT OPTION 1
$2,260 ANNUAL PLANNED PREMIUM
ASSUMING MAXIMUM CHARGES
<TABLE>
<CAPTION>
0% Hypothetical 6% Hypothetical 12% Hypothetical
Gross Investment Return Gross Investment Return Gross Investment Return
------------------------------ ----------------------------- -------------------------------
End Of Cash Cash Cash
Policy Accumulated Policy Surrender Death Policy Surrender Death Policy Surrender Death
Year(1) Premiums(2) Value Value(3) Benefit Value Value(3) Benefit Value Value(3) Benefit
- ------- ----------- ------ --------- ------- ------ --------- ------- ------ --------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 2,373 944 0 500,000 1,032 0 500,000 1,121 0 500,000
2 4,865 1,954 0 500,000 2,193 0 500,000 2,444 0 500,000
3 7,481 2,896 0 500,000 3,350 0 500,000 3,846 0 500,000
4 10,228 3,765 171 500,000 4,497 903 500,000 5,330 1,736 500,000
5 13,112 4,552 1,549 500,000 5,624 2,621 500,000 6,895 3,892 500,000
6 16,141 5,254 2,841 500,000 6,726 4,313 500,000 8,544 6,131 500,000
7 19,321 5,858 4,036 500,000 7,786 5,964 500,000 10,271 8,450 500,000
8 22,660 6,365 5,134 500,000 8,803 7,573 500,000 12,085 10,855 500,000
9 26,166 6,763 6,123 500,000 9,761 9,121 500,000 13,981 13,341 500,000
10 29,847 7,053 7,004 500,000 10,658 10,608 500,000 15,967 15,918 500,000
11 33,713 7,258 7,258 500,000 11,533 11,533 500,000 18,130 18,130 500,000
12 37,771 7,331 7,331 500,000 12,318 12,318 500,000 20,394 20,394 500,000
13 42,033 7,260 7,260 500,000 12,999 12,999 500,000 22,763 22,763 500,000
14 46,508 7,040 7,040 500,000 13,560 13,560 500,000 25,240 25,240 500,000
15 51,206 6,650 6,650 500,000 13,977 13,977 500,000 27,817 27,817 500,000
16 56,139 6,081 6,081 500,000 14,231 14,231 500,000 30,498 30,498 500,000
17 61,319 5,302 5,302 500,000 14,280 14,280 500,000 33,263 33,263 500,000
18 66,758 4,276 4,276 500,000 14,078 14,078 500,000 36,088 36,088 500,000
19 72,469 2,977 2,977 500,000 13,581 13,581 500,000 38,956 38,956 500,000
20 78,466 1,359 1,359 500,000 12,729 12,729 500,000 41,829 41,829 500,000
21 84,762 0(4) 0(4) 0(4) 11,465 11,465 500,000 44,679 44,679 500,000
22 91,373 9,725 9,725 500,000 47,470 47,470 500,000
23 98,315 7,453 7,453 500,000 50,175 50,175 500,000
24 105,603 4,579 4,579 500,000 52,756 52,756 500,000
25 113,256 1,002 1,002 500,000 55,147 55,147 500,000
26 121,292 0(4) 0(4) 0(4) 57,273 57,273 500,000
27 129,730 59,048 59,048 500,000
28 138,589 60,349 60,349 500,000
29 147,892 61,024 61,024 500,000
30 157,659 60,892 60,892 500,000
31 167,915 59,758 59,758 500,000
32 178,684 57,409 57,409 500,000
33 189,991 53,582 53,582 500,000
34 201,864 47,970 47,970 500,000
35 214,330 40,177 40,177 500,000
36 227,420 29,659 29,659 500,000
37 241,164 15,417 15,417 500,000
38 255,595 0(4) 0(4) 0(4)
</TABLE>
(1) All values shown are as of the end of the policy year indicated, have been
rounded to the nearest dollar, and assume that (a) premiums paid after the
initial premium are received on the policy anniversary, (b) no policy loan
has been made, (c) no partial withdrawal of the Cash Surrender Value has
been made and (d) no premiums have been allocated to the Fixed Account.
(2) Assumes net interest of 5% compounded annually.
(3) Provided the No Lapse Guarantee Cumulative Premium Test has been and
continues to be met, the No Lapse Guarantee will keep the Policy in force
until the end of the first 10 Policy Years.
(4) In the absence of additional premium payments, the Policy will lapse.
<PAGE> 5
THE POLICY VALUE, CASH SURRENDER VALUE AND THE DEATH BENEFIT WILL DIFFER IF
PREMIUMS ARE PAID IN DIFFERENT AMOUNTS OR FREQUENCIES. IT IS EMPHASIZED THAT THE
HYPOTHETICAL INVESTMENT RETURNS ARE ILLUSTRATIVE ONLY, AND SHOULD NOT BE DEEMED
A REPRESENTATION OF PAST OR FUTURE RESULTS. ACTUAL INVESTMENT RETURNS MAY BE
MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING
THE INVESTMENT ALLOCATION MADE BY THE POLICYOWNER, AND THE INVESTMENT RETURNS
FOR THE FUNDS OF MANUFACTURERS INVESTMENT TRUST. THE POLICY VALUE, CASH
SURRENDER VALUE AND DEATH BENEFIT FOR A POLICY WOULD BE DIFFERENT FROM THOSE
SHOWN IF ACTUAL RATES OF INVESTMENT RETURN AVERAGED THE RATE SHOWN ABOVE OVER A
PERIOD OF YEARS, BUT ALSO FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL
POLICY YEARS. NO REPRESENTATIONS CAN BE MADE THAT THESE HYPOTHETICAL RATES OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
<PAGE> 6
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICY
MALE NON-SMOKER ISSUE AGE 35 (STANDARD)
$500,000 FACE AMOUNT DEATH BENEFIT OPTION 2
$3,070 ANNUAL PLANNED PREMIUM
ASSUMING CURRENT CHARGES
<TABLE>
<CAPTION>
0% Hypothetical 6% Hypothetical 12% Hypothetical
Gross Investment Return Gross Investment Return Gross Investment Return
------------------------------ ----------------------------- -------------------------------
End Of Cash Cash Cash
Policy Accumulated Policy Surrender Death Policy Surrender Death Policy Surrender Death
Year(1) Premiums(2) Value Value(3) Benefit Value Value(3) Benefit Value Value(3) Benefit
- ------- ----------- ------ --------- ------- ------ --------- ------- ------ --------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 3,224 1,685 0 501,685 1,818 0 501,818 1,951 0 501,951
2 6,608 3,497 0 503,497 3,872 0 503,872 4,265 0 504,265
3 10,162 5,219 575 505,219 5,952 1,308 505,952 6,749 2,105 506,749
4 13,894 6,882 2,894 506,882 8,089 4,100 508,089 9,453 5,464 509,453
5 17,812 8,517 5,184 508,517 10,315 6,983 510,315 12,430 9,097 512,430
6 21,926 10,065 7,388 510,065 12,575 9,897 512,575 15,645 12,968 515,645
7 26,246 11,522 9,500 511,522 14,862 12,840 514,862 19,115 17,094 519,115
8 30,782 12,918 11,553 512,918 17,208 15,842 517,208 22,899 21,533 522,899
9 35,544 14,291 13,581 514,291 19,654 18,944 519,654 27,066 26,355 527,066
10 40,545 15,635 15,581 515,635 22,196 22,142 522,196 31,647 31,592 531,647
11 45,796 17,041 17,041 517,041 24,972 24,972 524,972 36,880 36,880 536,880
12 51,309 18,347 18,347 518,347 27,794 27,794 527,794 42,583 42,583 542,583
13 57,098 19,543 19,543 519,543 30,652 30,652 530,652 48,793 48,793 548,793
14 63,176 20,623 20,623 520,623 33,540 33,540 533,540 55,558 55,558 555,558
15 69,558 21,595 21,595 521,595 36,467 36,467 536,467 62,943 62,943 562,943
16 76,260 22,472 22,472 522,472 39,447 39,447 539,447 71,027 71,027 571,027
17 83,296 23,267 23,267 523,267 42,494 42,494 542,494 79,898 79,898 579,898
18 90,685 23,982 23,982 523,982 45,612 45,612 545,612 89,639 89,639 589,639
19 98,442 24,640 24,640 524,640 48,828 48,828 548,828 100,367 100,367 600,367
20 106,588 25,255 25,255 525,255 52,160 52,160 552,160 112,202 112,202 612,202
21 115,141 25,649 25,649 525,649 55,430 55,430 555,430 125,072 125,072 625,072
22 124,122 25,848 25,848 525,848 58,657 58,657 558,657 139,112 139,112 639,112
23 133,551 25,843 25,843 525,843 61,829 61,829 561,829 154,434 154,434 654,434
24 143,452 25,600 25,600 525,600 64,906 64,906 564,906 171,138 171,138 671,138
25 153,848 25,098 25,098 525,098 67,859 67,859 567,859 189,344 189,344 689,344
26 164,764 24,305 24,305 524,305 70,644 70,644 570,644 209,176 209,176 709,176
27 176,226 23,177 23,177 523,177 73,206 73,206 573,206 230,757 230,757 730,757
28 188,261 21,682 21,682 521,682 75,497 75,497 575,497 254,234 254,234 754,234
29 200,897 19,794 19,794 519,794 77,473 77,473 577,473 279,779 279,779 779,779
30 214,166 17,472 17,472 517,472 79,070 79,070 579,070 307,562 307,562 807,562
31 228,097 14,702 14,702 514,702 80,252 80,252 580,252 337,801 337,801 837,801
32 242,726 11,430 11,430 511,430 80,938 80,938 580,938 370,697 370,697 870,697
33 258,086 7,603 7,603 507,603 81,043 81,043 581,043 406,468 406,468 906,468
34 274,213 3,167 3,167 503,167 80,478 80,478 580,478 445,359 445,359 945,359
35 291,148 0(4) 0(4) 0(4) 79,144 79,144 579,144 487,633 487,633 987,633
36 308,928 76,926 76,926 576,926 533,567 533,567 1,033,567
37 327,598 73,632 73,632 573,632 583,402 583,402 1,083,402
38 347,202 69,128 69,128 569,128 637,464 637,464 1,137,464
39 367,785 63,258 63,258 563,258 696,102 696,102 1,196,102
40 389,398 55,845 55,845 555,845 759,692 759,692 1,259,692
41 412,091 46,506 46,506 546,506 828,439 828,439 1,328,439
42 435,920 34,975 34,975 534,975 902,716 902,716 1,402,716
43 460,939 20,936 20,936 520,936 982,891 982,891 1,482,891
44 487,209 4,054 4,054 504,054 1,069,372 1,069,372 1,569,372
45 514,793 0(4) 0(4) 0(4) 1,162,592 1,162,592 1,662,592
46 543,757 1,263,022 1,263,022 1,763,022
47 574,168 1,371,159 1,371,159 1,871,159
48 606,100 1,487,592 1,487,592 1,987,592
49 639,628 1,612,947 1,612,947 2,112,947
</TABLE>
<PAGE> 7
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50 674,833 1,747,781 1,747,781 2,247,781
51 711,798 1,892,690 1,892,690 2,392,690
52 750,612 2,048,641 2,048,641 2,548,641
53 791,366 2,216,437 2,216,437 2,716,437
54 834,158 2,396,956 2,396,956 2,896,956
55 879,089 2,591,246 2,591,246 3,091,246
56 926,267 2,800,542 2,800,542 3,300,542
57 975,804 3,026,853 3,026,853 3,526,853
58 1,027,818 3,271,863 3,271,863 3,771,863
59 1,082,432 3,537,433 3,537,433 4,037,433
60 1,139,777 3,825,623 3,825,623 4,325,623
61 1,199,989 4,138,724 4,138,724 4,638,724
62 1,263,212 4,479,096 4,479,096 4,979,096
63 1,329,597 4,849,534 4,849,534 5,349,534
64 1,399,300 5,253,144 5,253,144 5,753,144
65 1,472,488 5,693,361 5,693,361 6,193,361
</TABLE>
(1) All values shown are as of the end of the policy year indicated, have been
rounded to the nearest dollar, and assume that (a) premiums paid after the
initial premium are received on the policy anniversary, (b) no policy loan
has been made, (c) no partial withdrawal of the Cash Surrender Value has
been made and (d) no premiums have been allocated to the Fixed Account.
(2) Assumes net interest of 5% compounded annually.
(3) Provided the No Lapse Guarantee Cumulative Premium Test has been and
continues to be met, the No Lapse Guarantee will keep the Policy in force
until the end of the first 10 Policy Years.
(4) In the absence of additional premium payments, the Policy will lapse.
THE POLICY VALUE, CASH SURRENDER VALUE AND THE DEATH BENEFIT WILL DIFFER IF
PREMIUMS ARE PAID IN DIFFERENT AMOUNTS OR FREQUENCIES. IT IS EMPHASIZED THAT THE
HYPOTHETICAL INVESTMENT RETURNS ARE ILLUSTRATIVE ONLY, AND SHOULD NOT BE DEEMED
A REPRESENTATION OF PAST OR FUTURE RESULTS. ACTUAL INVESTMENT RETURNS MAY BE
MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING
THE INVESTMENT ALLOCATION MADE BY THE POLICYOWNER, AND THE INVESTMENT RETURNS
FOR THE FUNDS OF MANUFACTURERS INVESTMENT TRUST. THE POLICY VALUE, CASH
SURRENDER VALUE AND DEATH BENEFIT FOR A POLICY WOULD BE DIFFERENT FROM THOSE
SHOWN IF ACTUAL RATES OF INVESTMENT RETURN AVERAGED THE RATE SHOWN ABOVE OVER A
PERIOD OF YEARS, BUT ALSO FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL
POLICY YEARS. NO REPRESENTATIONS CAN BE MADE THAT THESE HYPOTHETICAL RATES OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
<PAGE> 8
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICY
MALE NON-SMOKER ISSUE AGE 35 (STANDARD)
$500,000 FACE AMOUNT DEATH BENEFIT OPTION 2
$3,070 ANNUAL PLANNED PREMIUM
ASSUMING MAXIMUM CHARGES
<TABLE>
<CAPTION>
0% Hypothetical 6% Hypothetical 12% Hypothetical
Gross Investment Return Gross Investment Return Gross Investment Return
------------------------------ ----------------------------- -------------------------------
End Of Cash Cash Cash
Policy Accumulated Policy Surrender Death Policy Surrender Death Policy Surrender Death
Year(1) Premiums(2) Value Value(3) Benefit Value Value(3) Benefit Value Value(3) Benefit
- ------- ----------- ------ --------- ------- ------ --------- ------- ------ --------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 3,224 1,685 0 501,685 1,818 0 501,818 1,951 0 501,951
2 6,608 3,423 0 503,423 3,796 0 503,796 4,186 0 504,186
3 10,162 5,077 433 505,077 5,801 1,158 505,801 6,589 1,945 506,589
4 13,894 6,644 2,656 506,644 7,830 3,842 507,830 9,172 5,183 509,172
5 17,812 8,115 4,783 508,115 9,873 6,540 509,873 11,942 8,609 511,942
6 21,926 9,488 6,811 509,488 11,925 9,248 511,925 14,913 12,236 514,913
7 26,246 10,748 8,726 510,748 13,971 11,950 513,971 18,091 16,069 518,091
8 30,782 11,898 10,532 511,898 16,013 14,647 516,013 21,495 20,129 521,495
9 35,544 12,925 12,214 512,925 18,033 17,322 518,033 25,132 24,422 525,132
10 40,545 13,830 13,776 513,830 20,031 19,976 520,031 29,028 28,973 529,028
11 45,796 14,676 14,676 514,676 22,101 22,101 522,101 33,357 33,357 533,357
12 51,309 15,378 15,378 515,378 24,132 24,132 524,132 38,007 38,007 538,007
13 57,098 15,927 15,927 515,927 26,110 26,110 526,110 42,999 42,999 542,999
14 63,176 16,317 16,317 516,317 28,024 28,024 528,024 48,361 48,361 548,361
15 69,558 16,529 16,529 516,529 29,849 29,849 529,849 54,110 54,110 554,110
16 76,260 16,555 16,555 516,555 31,572 31,572 531,572 60,277 60,277 560,277
17 83,296 16,362 16,362 516,362 33,151 33,151 533,151 66,870 66,870 566,870
18 90,685 15,919 15,919 515,919 34,544 34,544 534,544 73,897 73,897 573,897
19 98,442 15,199 15,199 515,199 35,712 35,712 535,712 81,374 81,374 581,374
20 106,588 14,161 14,161 514,161 36,598 36,598 536,598 89,300 89,300 589,300
21 115,141 12,774 12,774 512,774 37,153 37,153 537,153 97,687 97,687 597,687
22 124,122 11,003 11,003 511,003 37,320 37,320 537,320 106,541 106,541 606,541
23 133,551 8,826 8,826 508,826 37,055 37,055 537,055 115,887 115,887 615,887
24 143,452 6,215 6,215 506,215 36,303 36,303 536,303 125,739 125,739 625,739
25 153,848 3,115 3,115 503,115 34,978 34,978 534,978 136,090 136,090 636,090
26 164,764 0(4) 0(4) 0(4) 32,992 32,992 532,992 146,927 146,927 646,927
27 176,226 30,248 30,248 530,248 158,236 158,236 658,236
28 188,261 26,616 26,616 526,616 169,970 169,970 669,970
29 200,897 21,950 21,950 521,950 182,066 182,066 682,066
30 214,166 16,085 16,085 516,085 194,445 194,445 694,445
31 228,097 8,865 8,865 508,865 207,033 207,033 707,033
32 242,726 142 142 500,142 219,768 219,768 719,768
33 258,086 0(4) 0(4) 0(4) 232,564 232,564 732,564
34 274,213 245,335 245,335 745,335
35 291,148 257,950 257,950 757,950
36 308,928 270,198 270,198 770,198
37 327,598 281,498 281,498 781,498
38 347,202 292,081 292,081 792,081
39 367,785 301,220 301,220 801,220
40 389,398 308,448 308,448 808,448
41 412,091 313,348 313,348 813,348
42 435,920 315,474 315,474 815,474
43 460,939 314,359 314,359 814,359
44 487,209 309,528 309,528 809,528
45 514,793 300,361 300,361 800,361
46 543,757 286,029 286,029 786,029
47 574,168 265,507 265,507 765,507
48 606,100 237,527 237,527 737,527
49 639,628 200,626 200,626 700,626
</TABLE>
<PAGE> 9
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
50 674,833 153,299 153,299 653,299
51 711,798 94,029 94,029 594,029
52 750,612 21,274 21,274 521,274
53 791,366 0(4) 0(4) 0(4)
</TABLE>
(1) All values shown are as of the end of the policy year indicated, have been
rounded to the nearest dollar, and assume that (a) premiums paid after the
initial premium are received on the policy anniversary, (b) no policy loan
has been made, (c) no partial withdrawal of the Cash Surrender Value has
been made and (d) no premiums have been allocated to the Fixed Account.
(2) Assumes net interest of 5% compounded annually.
(3) Provided the No Lapse Guarantee Cumulative Premium Test has been and
continues to be met, the No Lapse Guarantee will keep the Policy in force
until the end of the first 10 Policy Years.
(4) In the absence of additional premium payments, the Policy will lapse.
THE POLICY VALUE, CASH SURRENDER VALUE AND THE DEATH BENEFIT WILL DIFFER IF
PREMIUMS ARE PAID IN DIFFERENT AMOUNTS OR FREQUENCIES. IT IS EMPHASIZED THAT THE
HYPOTHETICAL INVESTMENT RETURNS ARE ILLUSTRATIVE ONLY, AND SHOULD NOT BE DEEMED
A REPRESENTATION OF PAST OR FUTURE RESULTS. ACTUAL INVESTMENT RETURNS MAY BE
MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING
THE INVESTMENT ALLOCATION MADE BY THE POLICYOWNER, AND THE INVESTMENT RETURNS
FOR THE FUNDS OF MANUFACTURERS INVESTMENT TRUST. THE POLICY VALUE, CASH
SURRENDER VALUE AND DEATH BENEFIT FOR A POLICY WOULD BE DIFFERENT FROM THOSE
SHOWN IF ACTUAL RATES OF INVESTMENT RETURN AVERAGED THE RATE SHOWN ABOVE OVER A
PERIOD OF YEARS, BUT ALSO FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL
POLICY YEARS. NO REPRESENTATIONS CAN BE MADE THAT THESE HYPOTHETICAL RATES OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
<PAGE> 10
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICY
MALE NON-SMOKER ISSUE AGE 55 (STANDARD)
$500,000 FACE AMOUNT DEATH BENEFIT OPTION 1
$7,940 ANNUAL PLANNED PREMIUM
ASSUMING CURRENT CHARGES
<TABLE>
<CAPTION>
0% Hypothetical 6% Hypothetical 12% Hypothetical
Gross Investment Return Gross Investment Return Gross Investment Return
------------------------------ ----------------------------- --------------------------------
End Of Cash Cash Cash
Policy Accumulated Policy Surrender Death Policy Surrender Death Policy Surrender Death
Year(1) Premiums(2) Value Value(3) Benefit Value Value(3) Benefit Value Value(3) Benefit
- ------- ----------- ------ --------- ------- ------ --------- ------- ------ --------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 8,337 3,773 0 500,000 4,099 0 500,000 4,426 0 500,000
2 17,091 7,276 0 500,000 8,161 0 500,000 9,088 639 500,000
3 26,282 10,711 3,308 500,000 12,389 4,986 500,000 14,222 6,819 500,000
4 35,934 13,900 7,541 500,000 16,609 10,251 500,000 19,692 13,334 500,000
5 46,067 17,059 11,746 500,000 21,042 15,728 500,000 25,763 20,450 500,000
6 56,708 19,894 15,626 500,000 25,394 21,127 500,000 32,192 27,924 500,000
7 67,880 22,421 19,198 500,000 29,681 26,458 500,000 39,039 35,816 500,000
8 79,611 24,742 22,565 500,000 34,000 31,822 500,000 46,457 44,280 500,000
9 91,928 26,951 25,819 500,000 38,447 37,315 500,000 54,607 53,474 500,000
10 104,862 29,087 29,000 500,000 43,071 42,984 500,000 63,612 63,525 500,000
11 118,442 30,770 30,770 500,000 47,598 47,598 500,000 73,449 73,449 500,000
12 132,701 31,945 31,945 500,000 51,893 51,893 500,000 83,978 83,978 500,000
13 147,673 32,505 32,505 500,000 55,843 55,843 500,000 95,203 95,203 500,000
14 163,394 32,422 32,422 500,000 59,409 59,409 500,000 107,217 107,217 500,000
15 179,900 31,643 31,643 500,000 62,528 62,528 500,000 120,108 120,108 500,000
16 197,233 30,083 30,083 500,000 65,106 65,106 500,000 133,961 133,961 500,000
17 215,431 27,717 27,717 500,000 67,100 67,100 500,000 148,934 148,934 500,000
18 234,540 24,527 24,527 500,000 68,476 68,476 500,000 165,228 165,228 500,000
19 254,604 20,497 20,497 500,000 69,196 69,196 500,000 183,074 183,074 500,000
20 275,671 15,606 15,606 500,000 69,218 69,218 500,000 202,747 202,747 500,000
21 297,791 8,816 8,816 500,000 67,571 67,571 500,000 223,937 223,937 500,000
22 321,018 214 214 500,000 64,264 64,264 500,000 247,122 247,122 500,000
23 345,406 0(4) 0(4) 0(4) 58,947 58,947 500,000 272,653 272,653 500,000
24 371,013 51,211 51,211 500,000 300,992 300,992 500,000
25 397,901 40,548 40,548 500,000 332,740 332,740 500,000
26 426,133 26,343 26,343 500,000 368,684 368,684 500,000
27 455,777 7,818 7,818 500,000 409,860 409,860 500,000
28 486,902 0(4) 0(4) 0(4) 457,642 457,642 500,000
29 519,584 512,837 512,837 538,479
30 553,901 573,613 573,613 602,294
31 589,933 640,352 640,352 672,370
32 627,766 713,598 713,598 749,278
33 667,492 793,919 793,919 833,615
34 709,203 881,921 881,921 926,017
35 753,000 978,256 978,256 1,027,169
36 798,987 1,083,627 1,083,627 1,137,809
37 847,274 1,200,576 1,200,576 1,248,599
38 897,974 1,330,751 1,330,751 1,370,673
39 951,210 1,476,098 1,476,098 1,505,620
40 1,007,108 1,638,928 1,638,928 1,655,318
41 1,065,800 1,821,993 1,821,993 1,821,993
42 1,127,427 2,024,581 2,024,581 2,024,581
43 1,192,135 2,248,774 2,248,774 2,248,774
44 1,260,079 2,496,876 2,496,876 2,496,876
45 1,331,420 2,771,438 2,771,438 2,771,438
</TABLE>
(1) All values shown are as of the end of the policy year indicated, have been
rounded to the nearest dollar, and assume that (a) premiums paid after the
initial premium are received on the policy anniversary, (b) no policy loan
has been made, (c) no partial withdrawal of the Cash Surrender Value has
been made and (d) no premiums have been allocated to the Fixed Account.
<PAGE> 11
(2) Assumes net interest of 5% compounded annually.
(3) Provided the No Lapse Guarantee Cumulative Premium Test has been and
continues to be met, the No Lapse Guarantee will keep the Policy in force
until the end of the first 10 Policy Years.
(4) In the absence of additional premium payments, the Policy will lapse.
THE POLICY VALUE, CASH SURRENDER VALUE AND THE DEATH BENEFIT WILL DIFFER IF
PREMIUMS ARE PAID IN DIFFERENT AMOUNTS OR FREQUENCIES. IT IS EMPHASIZED THAT THE
HYPOTHETICAL INVESTMENT RETURNS ARE ILLUSTRATIVE ONLY, AND SHOULD NOT BE DEEMED
A REPRESENTATION OF PAST OR FUTURE RESULTS. ACTUAL INVESTMENT RETURNS MAY BE
MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING
THE INVESTMENT ALLOCATION MADE BY THE POLICYOWNER, AND THE INVESTMENT RETURNS
FOR THE FUNDS OF MANUFACTURERS INVESTMENT TRUST. THE POLICY VALUE, CASH
SURRENDER VALUE AND DEATH BENEFIT FOR A POLICY WOULD BE DIFFERENT FROM THOSE
SHOWN IF ACTUAL RATES OF INVESTMENT RETURN AVERAGED THE RATE SHOWN ABOVE OVER A
PERIOD OF YEARS, BUT ALSO FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL
POLICY YEARS. NO REPRESENTATIONS CAN BE MADE THAT THESE HYPOTHETICAL RATES OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
<PAGE> 12
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICY
MALE NON-SMOKER ISSUE AGE 55 (STANDARD)
$500,000 FACE AMOUNT DEATH BENEFIT OPTION 1
$7,940 ANNUAL PLANNED PREMIUM
ASSUMING MAXIMUM CHARGES
<TABLE>
<CAPTION>
0% Hypothetical 6% Hypothetical 12% Hypothetical
Gross Investment Return Gross Investment Return Gross Investment Return
------------------------------ ---------------------------- ------------------------------
End Of Cash Cash Cash
Policy Accumulated Policy Surrender Death Policy Surrender Death Policy Surrender Death
Year(1) Premiums(2) Value Value(3) Benefit Value Value(3) Benefit Value Value(3) Benefit
- ------- ----------- ------ --------- ------- ------ --------- ------- ------ --------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 8,337 3,773 0 500,000 4,099 0 500,000 4,426 0 500,000
2 17,091 6,632 0 500,000 7,497 0 500,000 8,405 0 500,000
3 26,282 9,051 1,647 500,000 10,639 3,236 500,000 12,382 4,978 500,000
4 35,934 11,001 4,643 500,000 13,483 7,125 500,000 16,329 9,971 500,000
5 46,067 12,434 7,120 500,000 15,960 10,646 500,000 20,190 14,877 500,000
6 56,708 13,295 9,027 500,000 17,994 13,726 500,000 23,903 19,635 500,000
7 67,880 13,528 10,305 500,000 19,503 16,281 500,000 27,396 24,173 500,000
8 79,611 13,048 10,870 500,000 20,373 18,195 500,000 30,563 28,385 500,000
9 91,928 11,753 10,621 500,000 20,466 19,334 500,000 33,271 32,139 500,000
10 104,862 9,532 9,445 500,000 19,627 19,540 500,000 35,368 35,281 500,000
11 118,442 6,338 6,338 500,000 17,816 17,816 500,000 36,904 36,904 500,000
12 132,701 1,994 1,994 500,000 14,751 14,751 500,000 37,528 37,528 500,000
13 147,673 0(4) 0(4) 0(4) 10,231 10,231 500,000 37,030 37,030 500,000
14 163,394 4,033 4,033 500,000 35,163 35,163 500,000
15 179,900 0(4) 0(4) 0(4) 31,610 31,610 500,000
16 197,233 25,922 25,922 500,000
17 215,431 17,221 17,221 500,000
18 234,540 5,302 5,302 500,000
19 254,604 0(4) 0(4) 0(4)
</TABLE>
(1) All values shown are as of the end of the policy year indicated, have been
rounded to the nearest dollar, and assume that (a) premiums paid after the
initial premium are received on the policy anniversary, (b) no policy loan
has been made, (c) no partial withdrawal of the Cash Surrender Value has
been made and (d) no premiums have been allocated to the Fixed Account.
(2) Assumes net interest of 5% compounded annually.
(3) Provided the No Lapse Guarantee Cumulative Premium Test has been and
continues to be met, the No Lapse Guarantee will keep the Policy in force
until the end of the first 10 Policy Years.
(4) In the absence of additional premium payments, the Policy will lapse.
THE POLICY VALUE, CASH SURRENDER VALUE AND THE DEATH BENEFIT WILL DIFFER IF
PREMIUMS ARE PAID IN DIFFERENT AMOUNTS OR FREQUENCIES. IT IS EMPHASIZED THAT THE
HYPOTHETICAL INVESTMENT RETURNS ARE ILLUSTRATIVE ONLY, AND SHOULD NOT BE DEEMED
A REPRESENTATION OF PAST OR FUTURE RESULTS. ACTUAL INVESTMENT RETURNS MAY BE
MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING
THE INVESTMENT ALLOCATION MADE BY THE POLICYOWNER, AND THE INVESTMENT RETURNS
FOR THE FUNDS OF MANUFACTURERS INVESTMENT TRUST. THE POLICY VALUE, CASH
SURRENDER VALUE AND DEATH BENEFIT FOR A POLICY WOULD BE DIFFERENT FROM THOSE
SHOWN IF ACTUAL RATES OF INVESTMENT RETURN AVERAGED THE RATE SHOWN ABOVE OVER A
PERIOD OF YEARS, BUT ALSO FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL
POLICY YEARS. NO REPRESENTATIONS CAN BE MADE THAT THESE HYPOTHETICAL RATES OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
<PAGE> 13
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICY
MALE NON-SMOKER ISSUE AGE 55 (STANDARD)
$500,000 FACE AMOUNT DEATH BENEFIT OPTION 2
$11,575 ANNUAL PLANNED PREMIUM
ASSUMING CURRENT CHARGES
<TABLE>
<CAPTION>
0% Hypothetical 6% Hypothetical 12% Hypothetical
Gross Investment Return Gross Investment Return Gross Investment Return
------------------------------ ----------------------------- ------------------------------
End Of Cash Cash Cash
Policy Accumulated Policy Surrender Death Policy Surrender Death Policy Surrender Death
Year(1) Premiums(2) Value Value(3) Benefit Value Value(3) Benefit Value Value(3) Benefit
- ------- ----------- ------ --------- ------- ------ --------- ------- ------ --------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 12,154 7,076 0 507,076 7,599 0 507,599 8,125 0 508,125
2 24,915 13,796 2,996 513,796 15,275 4,475 515,275 16,820 6,020 516,820
3 38,315 20,366 10,903 520,366 23,236 13,773 523,236 26,356 16,892 526,356
4 52,384 26,607 18,480 526,607 31,307 23,180 531,307 36,622 28,495 536,622
5 67,157 32,742 25,951 532,742 39,718 32,926 539,718 47,927 41,136 547,927
6 82,669 38,466 33,010 538,466 48,164 42,709 548,164 60,047 54,592 560,047
7 98,956 43,796 39,677 543,796 56,661 52,541 556,661 73,077 68,957 573,077
8 116,057 48,841 46,058 548,841 65,313 62,529 565,313 87,216 84,433 587,216
9 134,014 53,700 52,253 553,700 74,225 72,778 574,225 102,677 101,230 602,677
10 152,869 58,418 58,306 558,418 83,452 83,341 583,452 119,639 119,528 619,639
11 172,666 62,826 62,826 562,826 92,981 92,981 592,981 138,449 138,449 638,449
12 193,453 66,642 66,642 566,642 102,403 102,403 602,403 158,690 158,690 658,690
13 215,279 69,752 69,752 569,752 111,590 111,590 611,590 180,388 180,388 680,388
14 238,197 72,136 72,136 572,136 120,501 120,501 620,501 203,666 203,666 703,666
15 262,260 73,748 73,748 573,748 129,068 129,068 629,068 228,637 228,637 728,637
16 287,527 74,515 74,515 574,515 137,187 137,187 637,187 255,391 255,391 755,391
17 314,057 74,429 74,429 574,429 144,820 144,820 644,820 284,102 284,102 784,102
18 341,914 73,500 73,500 573,500 151,943 151,943 651,943 314,977 314,977 814,977
19 371,163 71,739 71,739 571,739 158,532 158,532 658,532 348,246 348,246 848,246
20 401,875 69,160 69,160 569,160 164,569 164,569 664,569 384,172 384,172 884,172
21 434,123 64,746 64,746 564,746 168,965 168,965 668,965 421,945 421,945 921,945
22 467,983 58,691 58,691 558,691 171,822 171,822 671,822 461,944 461,944 961,944
23 503,536 50,807 50,807 550,807 172,851 172,851 672,851 504,186 504,186 1,004,186
24 540,866 40,906 40,906 540,906 171,751 171,751 671,751 548,688 548,688 1,048,688
25 580,063 28,789 28,789 528,789 168,188 168,188 668,188 595,452 595,452 1,095,452
26 621,220 14,248 14,248 514,248 161,807 161,807 661,807 644,472 644,472 1,144,472
27 664,435 0 (4) 0 (4) 0 (4) 152,209 152,209 652,209 695,717 695,717 1,195,717
28 709,810 139,017 139,017 639,017 749,191 749,191 1,249,191
29 757,455 121,808 121,808 621,808 804,871 804,871 1,304,871
30 807,481 100,011 100,011 600,011 862,601 862,601 1,362,601
31 860,009 73,005 73,005 573,005 922,182 922,182 1,422,182
32 915,163 40,438 40,438 540,438 983,705 983,705 1,483,705
33 973,075 1,685 1,685 501,685 1,047,004 1,047,004 1,547,004
34 1,033,883 0(4) 0(4) 0(4) 1,111,881 1,111,881 1,611,881
35 1,097,730 1,178,197 1,178,197 1,678,197
36 1,164,771 1,245,870 1,245,870 1,745,870
37 1,235,163 1,315,456 1,315,456 1,815,456
38 1,309,075 1,387,026 1,387,026 1,887,026
39 1,386,682 1,460,659 1,460,659 1,960,659
40 1,468,170 1,536,442 1,536,442 2,036,442
41 1,553,733 1,614,485 1,614,485 2,114,485
42 1,643,573 1,694,732 1,694,732 2,194,732
43 1,737,905 1,777,303 1,777,303 2,277,303
44 1,836,954 1,862,345 1,862,345 2,362,345
45 1,940,956 1,950,021 1,950,021 2,450,021
</TABLE>
(1) All values shown are as of the end of the policy year indicated, have been
rounded to the nearest dollar, and assume that (a) premiums paid after the
initial premium are received on the policy anniversary, (b) no policy loan
has been made, (c) no partial withdrawal of the Cash Surrender Value has
been made and (d) no premiums have been allocated to the Fixed Account.
<PAGE> 14
(2) Assumes net interest of 5% compounded annually.
(3) Provided the No Lapse Guarantee Cumulative Premium Test has been and
continues to be met, the No Lapse Guarantee will keep the Policy in force
until the end of the first 10 Policy Years.
(4) In the absence of additional premium payments, the Policy will lapse.
THE POLICY VALUE, CASH SURRENDER VALUE AND THE DEATH BENEFIT WILL DIFFER IF
PREMIUMS ARE PAID IN DIFFERENT AMOUNTS OR FREQUENCIES. IT IS EMPHASIZED THAT THE
HYPOTHETICAL INVESTMENT RETURNS ARE ILLUSTRATIVE ONLY, AND SHOULD NOT BE DEEMED
A REPRESENTATION OF PAST OR FUTURE RESULTS. ACTUAL INVESTMENT RETURNS MAY BE
MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING
THE INVESTMENT ALLOCATION MADE BY THE POLICYOWNER, AND THE INVESTMENT RETURNS
FOR THE FUNDS OF MANUFACTURERS INVESTMENT TRUST. THE POLICY VALUE, CASH
SURRENDER VALUE AND DEATH BENEFIT FOR A POLICY WOULD BE DIFFERENT FROM THOSE
SHOWN IF ACTUAL RATES OF INVESTMENT RETURN AVERAGED THE RATE SHOWN ABOVE OVER A
PERIOD OF YEARS, BUT ALSO FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL
POLICY YEARS. NO REPRESENTATIONS CAN BE MADE THAT THESE HYPOTHETICAL RATES OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
<PAGE> 15
FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICY
MALE NON-SMOKER ISSUE AGE 55 (STANDARD)
$500,000 FACE AMOUNT DEATH BENEFIT OPTION 2
$11,575 ANNUAL PLANNED PREMIUM
ASSUMING MAXIMUM CHARGES
<TABLE>
<CAPTION>
0% Hypothetical 6% Hypothetical 12% Hypothetical
Gross Investment Return Gross Investment Return Gross Investment Return
----------------------------- ----------------------------- -----------------------------
End Of Cash Cash Cash
Policy Accumulated Policy Surrender Death Policy Surrender Death Policy Surrender Death
Year(1) Premiums(2) Value Value(3) Benefit Value Value(3) Benefit Value Value(3) Benefit
- ------- ----------- ------ --------- ------- ------ --------- ------- ------ --------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 12,154 7,076 0 507,076 7,599 0 507,599 8,125 0 508,125
2 24,915 13,143 2,343 513,143 14,601 3,802 514,601 16,125 5,326 516,125
3 38,315 18,682 9,219 518,682 21,458 11,995 521,458 24,482 15,019 524,482
4 52,384 23,669 15,542 523,669 28,131 20,003 528,131 33,195 25,068 533,195
5 67,157 28,052 21,261 528,052 34,548 27,757 534,548 42,238 35,446 542,238
6 82,669 31,784 26,329 531,784 40,639 35,184 540,639 51,579 46,124 551,579
7 98,956 34,810 30,691 534,810 46,324 42,205 546,324 61,182 57,063 561,182
8 116,057 37,054 34,271 537,054 51,494 48,710 551,494 70,978 68,195 570,978
9 134,014 38,425 36,978 538,425 56,019 54,572 556,019 80,876 79,429 580,876
10 152,869 38,829 38,718 538,829 59,761 59,649 559,761 90,771 90,659 590,771
11 172,666 38,405 38,405 538,405 62,929 62,929 562,929 101,093 101,093 601,093
12 193,453 36,861 36,861 536,861 65,086 65,086 565,086 111,320 111,320 611,320
13 215,279 34,118 34,118 534,118 66,088 66,088 566,088 121,342 121,342 621,342
14 238,197 30,100 30,100 530,100 65,788 65,788 565,788 131,042 131,042 631,042
15 262,260 24,703 24,703 524,703 64,002 64,002 564,002 140,259 140,259 640,259
16 287,527 17,761 17,761 517,761 60,469 60,469 560,469 148,748 148,748 648,748
17 314,057 8,783 8,783 508,783 54,582 54,582 554,582 155,886 155,886 655,886
18 341,914 0(4) 0(4) 0(4) 46,551 46,551 546,551 161,863 161,863 661,863
19 371,163 35,644 35,644 535,644 165,907 165,907 665,907
20 401,875 21,419 21,419 521,419 167,494 167,494 667,494
21 434,123 3,515 3,515 503,515 166,153 166,153 666,153
22 467,983 0(4) 0(4) 0(4) 161,372 161,372 661,372
23 503,536 152,614 152,614 652,614
24 540,866 139,324 139,324 639,324
25 580,063 120,797 120,797 620,797
26 621,220 96,106 96,106 596,106
27 664,435 64,119 64,119 564,119
28 709,810 23,454 23,454 523,454
29 757,455 0(4) 0(4) 0(4)
</TABLE>
(1) All values shown are as of the end of the policy year indicated, have been
rounded to the nearest dollar, and assume that (a) premiums paid after the
initial premium are received on the policy anniversary, (b) no policy loan
has been made, (c) no partial withdrawal of the Cash Surrender Value has
been made and (d) no premiums have been allocated to the Fixed Account.
(2) Assumes net interest of 5% compounded annually.
(3) Provided the No Lapse Guarantee Cumulative Premium Test has been and
continues to be met, the No Lapse Guarantee will keep the Policy in force
until the end of the first 10 Policy Years.
(4) In the absence of additional premium payments, the Policy will lapse.
THE POLICY VALUE, CASH SURRENDER VALUE AND THE DEATH BENEFIT WILL DIFFER IF
PREMIUMS ARE PAID IN DIFFERENT AMOUNTS OR FREQUENCIES. IT IS EMPHASIZED THAT THE
HYPOTHETICAL INVESTMENT RETURNS ARE ILLUSTRATIVE ONLY, AND SHOULD NOT BE DEEMED
A REPRESENTATION OF PAST OR FUTURE RESULTS. ACTUAL INVESTMENT RETURNS MAY BE
MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING
THE INVESTMENT ALLOCATION MADE BY THE POLICYOWNER, AND THE INVESTMENT RETURNS
FOR THE FUNDS OF MANUFACTURERS INVESTMENT TRUST. THE POLICY VALUE, CASH
SURRENDER VALUE AND DEATH BENEFIT FOR A POLICY WOULD BE DIFFERENT FROM THOSE
SHOWN IF ACTUAL RATES OF INVESTMENT RETURN AVERAGED THE RATE SHOWN ABOVE OVER A
PERIOD OF YEARS, BUT ALSO FLUCTUATED ABOVE OR BELOW THAT AVERAGE FOR INDIVIDUAL
POLICY YEARS. NO REPRESENTATIONS CAN BE MADE THAT THESE HYPOTHETICAL RATES OF
RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME.
