<PAGE> 1
SUPPLEMENT TO PROSPECTUS
FOR THE MANUFACTURERS LIFE INSURANCE COMPANY OF AMERICA
SEPARATE ACCOUNT THREE
DATED MAY 1, 1999
For Policies issued on or after April 3, 2000, the following changes
are applicable in states where approved:
NO LAPSE GUARANTEE PERIOD
The No-Lapse Guarantee period is fixed at the lesser of (a) twenty
years or (b) the number of year's remaining until the life insured's age is 95.
Certain states may have a shorter guarantee period. (The no-Lapse Guarantee
period for a particular Policy is stated in the Policy.)
OPTIONAL TERM RIDER
The Policy may be issued with an optional term insurance rider (the
"Term Rider"). The benefit of the term rider is that the cost of insurance rates
will always be less than or equal to the cost of insurance rates on the Policy.
HOWEVER, UNLIKE THE DEATH BENEFIT UNDER THE POLICY, THE DEATH BENEFIT UNDER THE
TERM RIDER IS NOT PROTECTED BY THE NO LAPSE GUARANTEE AFTER THE SECOND POLICY
YEAR AND TERMINATES AT AGE 100.
ILLUSTRATIONS
Illustrations reflecting the changes to the No Lapse Guarantee are
included with this supplement.
SUPPLEMENT DATED MARCH 17, 2000
SVUL 99.SUP 4200
<PAGE> 2
FLEXIBLE PREMIUM SURVIVORSHIP VARIABLE LIFE INSURANCE POLICY
MALE NON-SMOKER ISSUE AGE 55 (STANDARD) AND
FEMALE NON-SMOKER ISSUE AGE 50 (STANDARD)
$500,000 FACE AMOUNT DEATH BENEFIT OPTION 1
$7,500 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 Accumulated Policy Cash Death Policy Cash Death Policy Cash Death
Policy Premiums Value Surrender Benefit Value Surrender Benefit Value Surrender Benefit
Year (1) (2) Value (3) Value (3) Value (3)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 7,875 5,971 0 500,000 6,353 0 500,000 6,736 0 500,000
2 16,144 12,340 3,718 500,000 13,488 4,866 500,000 14,683 6,060 500,000
3 24,826 18,562 10,541 500,000 20,883 12,862 500,000 23,391 15,370 500,000
4 33,942 24,652 17,333 500,000 28,563 21,244 500,000 32,952 25,633 500,000
5 43,514 30,605 23,988 500,000 36,530 29,913 500,000 43,446 36,828 500,000
6 53,565 36,423 30,407 500,000 44,799 38,784 500,000 54,965 48,950 500,000
7 64,118 42,106 36,792 500,000 53,381 48,067 500,000 67,616 62,302 500,000
8 75,199 47,660 43,048 500,000 62,292 57,680 500,000 81,516 76,904 500,000
9 86,834 53,101 49,090 500,000 71,560 67,550 500,000 96,807 92,797 500,000
10 99,051 58,438 55,129 500,000 81,210 77,902 500,000 113,640 110,331 500,000
15 169,931 82,804 82,804 500,000 134,963 134,963 500,000 226,299 226,299 500,000
20 260,394 102,230 102,230 500,000 198,540 198,540 500,000 407,853 407,853 500,000
25 375,851 115,469 115,469 500,000 277,406 277,406 500,000 714,920 714,920 764,964
30 523,206 113,445 113,445 500,000 371,749 371,749 500,000 1,218,876 1,218,876 1,279,820
35 711,272 78,539 78,539 500,000 492,259 492,259 516,872 2,037,883 2,037,883 2,139,777
40 951,298 0 (4) 0 (4) 0 (4) 644,737 644,737 676,974 3,354,339 3,354,339 3,522,056
45 1,257,639 833,512 833,512 841,847 5,496,810 5,496,810 5,551,778
50 1,648,615 1,080,852 1,080,852 1,080,852 9,101,722 9,101,722 9,101,722
</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 20 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> 3
FLEXIBLE PREMIUM SURVIVORSHIP VARIABLE LIFE INSURANCE POLICY
MALE NON-SMOKER ISSUE AGE 55 (STANDARD) AND
FEMALE NON-SMOKER ISSUE AGE 50 (STANDARD)
$500,000 FACE AMOUNT DEATH BENEFIT OPTION 1
$7,500 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 Accumulated Policy Cash Death Policy Cash Death Policy Cash Death
Policy Premiums Value Surrender Benefit Value Surrender Benefit Value Surrender Benefit
Year (1) (2) Value (3) Value (3) Value (3)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 7,875 5,971 0 500,000 6,353 0 500,000 6,736 0 500,000
2 16,144 12,340 3,718 500,000 13,488 4,866 500,000 14,683 6,060 500,000
3 24,826 18,557 10,536 500,000 20,878 12,857 500,000 23,386 15,365 500,000
4 33,942 24,614 17,295 500,000 28,523 21,204 500,000 32,912 25,593 500,000
5 43,514 30,503 23,885 500,000 36,423 29,806 500,000 43,334 36,716 500,000
6 53,565 36,214 30,198 500,000 44,577 38,562 500,000 54,731 48,715 500,000
7 64,118 41,735 36,421 500,000 52,982 47,668 500,000 67,190 61,876 500,000
8 75,199 47,054 42,442 500,000 61,634 57,022 500,000 80,806 76,194 500,000
9 86,834 52,155 48,145 500,000 70,528 66,517 500,000 95,685 91,675 500,000
10 99,051 57,021 53,713 500,000 79,654 76,345 500,000 111,944 108,635 500,000
15 169,931 76,785 76,785 500,000 128,172 128,172 500,000 218,865 218,865 500,000
20 260,394 84,074 84,074 500,000 178,342 178,342 500,000 388,024 388,024 500,000
25 375,851 68,094 68,094 500,000 227,663 227,663 500,000 676,866 676,866 724,246
30 523,206 0 (4) 0 (4) 0 (4) 260,619 260,619 500,000 1,147,618 1,147,618 1,204,999
35 711,272 250,007 250,007 500,000 1,894,679 1,894,679 1,989,413
40 951,298 91,184 91,184 500,000 3,049,761 3,049,761 3,202,249
45 1,257,639 0 (4) 0 (4) 0 (4) 4,898,775 4,898,775 4,947,763
50 1,648,615 8,116,415 8,116,415 8,116,415
</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 20 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 SURVIVORSHIP VARIABLE LIFE INSURANCE POLICY
MALE NON-SMOKER ISSUE AGE 55 (STANDARD) AND
FEMALE NON-SMOKER ISSUE AGE 50 (STANDARD)
$500,000 FACE AMOUNT DEATH BENEFIT OPTION 2
$8,200 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 Accumulated Policy Cash Death Policy Cash Death Policy Cash Death
Policy Premiums Value Surrender Benefit Value Surrender Benefit Value Surrender Benefit
Year (1) (2) Value (3) Value (3) Value (3)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 8,610 6,608 0 506,608 7,028 0 507,028 7,448 0 507,448
2 17,651 13,601 4,978 513,601 14,865 6,242 514,865 16,179 7,556 516,179
3 27,143 20,434 12,413 520,434 22,987 14,967 522,987 25,746 17,725 525,746
4 37,110 27,123 19,804 527,123 31,423 24,104 531,423 36,251 28,931 536,251
5 47,576 33,660 27,043 533,660 40,174 33,557 540,174 47,776 41,158 547,776
6 58,564 40,048 34,032 540,048 49,252 43,237 549,252 60,423 54,408 560,423
7 70,103 46,285 40,971 546,285 58,669 53,355 558,669 74,305 68,991 574,305
8 82,218 52,378 47,766 552,378 68,442 63,830 568,442 89,547 84,935 589,547
9 94,939 58,342 54,331 558,342 78,599 74,588 578,599 106,301 102,291 606,301
10 108,296 64,188 60,880 564,188 89,166 85,857 589,166 124,732 121,423 624,732
15 185,791 90,731 90,731 590,731 147,681 147,681 647,681 247,357 247,357 747,357
20 284,698 111,285 111,285 611,285 215,230 215,230 715,230 440,828 440,828 940,828
25 410,930 123,493 123,493 623,493 293,354 293,354 793,354 755,870 755,870 1,255,870
30 572,038 115,762 115,762 615,762 369,234 369,234 869,234 1,249,989 1,249,989 1,749,989
35 777,658 68,811 68,811 568,811 418,732 418,732 918,732 2,012,177 2,012,177 2,512,177
40 1,040,086 0 (4) 0 (4) 0 (4) 405,629 405,629 905,629 3,181,557 3,181,557 3,681,557
45 1,375,018 280,834 280,834 780,834 4,983,451 4,983,451 5,483,451
50 1,802,486 0 (4) 0 (4) 0 (4) 7,744,701 7,744,701 8,244,701
</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 20 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> 5
FLEXIBLE PREMIUM SURVIVORSHIP VARIABLE LIFE INSURANCE POLICY
MALE NON-SMOKER ISSUE AGE 55 (STANDARD) AND
FEMALE NON-SMOKER ISSUE AGE 50 (STANDARD)
$500,000 FACE AMOUNT DEATH BENEFIT OPTION 2
$8,200 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 Accumulated Policy Cash Death Policy Cash Death Policy Cash Death
Policy Premiums Value Surrender Benefit Value Surrender Benefit Value Surrender Benefit
Year (1) (2) Value (3) Value (3) Value (3)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 8,610 6,608 0 506,608 7,028 0 507,028 7,448 0 507,448
2 17,651 13,601 4,978 513,601 14,865 6,242 514,865 16,179 7,556 516,179
3 27,143 20,429 12,408 520,429 22,982 14,962 522,982 25,741 17,720 525,741
4 37,110 27,082 19,763 527,082 31,381 24,062 531,381 36,207 28,888 536,207
5 47,576 33,552 26,934 533,552 40,059 33,442 540,059 47,654 41,037 547,654
6 58,564 39,824 33,808 539,824 49,012 42,996 549,012 60,165 54,150 560,165
7 70,103 45,885 40,571 545,885 58,233 52,919 558,233 73,828 68,515 573,828
8 82,218 51,717 47,105 551,717 67,711 63,099 567,711 88,738 84,126 588,738
9 94,939 57,302 53,291 557,302 77,434 73,424 577,434 104,996 100,986 604,996
10 108,296 62,615 59,306 562,615 87,384 84,075 587,384 122,709 119,400 622,709
15 185,791 83,786 83,786 583,786 139,262 139,262 639,262 237,031 237,031 737,031
20 284,698 89,855 89,855 589,855 187,769 187,769 687,769 404,676 404,676 904,676
25 410,930 68,395 68,395 568,395 219,014 219,014 719,014 650,750 650,750 1,150,750
30 572,038 0 (4) 0 (4) 0 (4) 190,862 190,862 690,862 979,284 979,284 1,479,284
35 777,658 39,225 39,225 539,225 1,387,018 1,387,018 1,887,018
40 1,040,086 0 (4) 0 (4) 0 (4) 1,852,618 1,852,618 2,352,618
45 1,375,018 2,319,056 2,319,056 2,819,056
50 1,802,486 2,141,235 2,141,235 2,641,235
</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 20 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.
