<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
VUL 99.SUPP 4200
<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 Accumulated Policy Cash Death Policy Cash Death Policy Cash Death
Policy Premiums (2) Value Surrender Benefit Value Surrender Benefit Value Surrender Benefit
Year (1) Value (3) Value (3) Value (3)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 2,373 1,018 0 500,000 1,109 0 500,000 1,200 0 500,000
2 4,865 2,200 0 500,000 2,451 0 500,000 2,714 0 500,000
3 7,865 3,334 0 500,000 3,822 0 500,000 4,352 168 500,000
4 10,228 4,402 808 500,000 5,202 1,608 500,000 6,107 2,513 500,000
5 13,112 5,423 2,420 500,000 6,610 3,607 500,000 8,010 5,007 500,000
6 16,141 6,373 3,960 500,000 8,024 5,611 500,000 10,050 7,637 500,000
7 19,321 7,253 5,431 500,000 9,443 7,621 500,000 12,242 10,420 500,000
8 22,660 8,086 6,855 500,000 10,890 9,659 500,000 14,625 13,394 500,000
9 26,166 8,913 8,273 500,000 12,407 11,767 500,000 17,260 16,620 500,000
10 29,847 9,727 9,678 500,000 13,990 13,941 500,000 20,166 20,117 500,000
15 51,206 12,921 12,921 500,000 22,485 22,485 500,000 39,702 39,702 500,000
20 78,466 13,798 13,798 500,000 30,860 30,860 500,000 69,814 69,814 500,000
25 113,256 10,980 10,980 500,000 37,620 37,620 500,000 116,685 116,685 500,000
30 157,659 1,242 1,242 500,000 38,829 38,829 500,000 189,881 189,881 500,000
35 214,330 0 (4) 0 (4) 0 (4) 27,079 27,079 500,000 307,825 307,825 500,000
40 286,658 0 (4) 0 (4) 0 (4) 510,116 510,116 545,824
45 378,968 852,429 852,429 895,051
50 496,783 1,406,831 1,406,831 1,477,173
55 647,147 2,292,371 2,292,371 2,406,990
60 839,054 3,740,750 3,740,750 3,778,157
65 1,083,982 6,221,821 6,221,821 6,221,821
</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. Provided the Death Benefit
Guarantee Cumulative Premium Test has been and continues to be met, the
Death Benefit Guarantee will keep the Policy in force until age 100.
(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 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 Accumulated Policy Cash Death Policy Cash Death Policy Cash Death
Policy Premiums (2) Value Surrender Benefit Value Surrender Benefit Value Surrender Benefit
Year (1) Value (3) Value (3) Value (3)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 2,373 1,018 0 500,000 1,109 0 500,000 1,200 0 500,000
2 4,865 2,028 0 500,000 2,273 0 500,000 2,531 0 500,000
3 7,481 2,968 0 500,000 3,434 0 500,000 3,942 0 500,000
4 10,228 3,836 242 500,000 4,584 990 500,000 5,436 1,842 500,000
5 13,112 4,622 1,618 500,000 5,715 2,712 500,000 7,012 4,008 500,000
6 16,141 5,322 2,910 500,000 6,821 4,408 500,000 8,673 6,260 500,000
7 19,321 5,925 4,104 500,000 7,885 6,063 500,000 10,413 8,591 500,000
8 22,660 6,432 5,201 500,000 8,906 7,676 500,000 12,242 11,011 500,000
9 26,166 6,828 6,188 500,000 9,869 9,229 500,000 14,153 13,513 500,000
10 29,847 7,117 7,068 500,000 10,770 10,721 500,000 16,157 16,108 500,000
15 51,206 7,042 7,042 500,000 14,514 14,514 500,000 28,606 28,606 500,000
20 78,466 2,072 2,072 500,000 13,823 13,823 500,000 43,646 43,646 500,000
25 113,256 0 (4) 0 (4) 0 (4) 2,851 2,851 500,000 58,784 58,784 500,000
30 157,659 0 (4) 0 (4) 0 (4) 67,900 67,900 500,000
35 214,330 53,926 53,926 500,000
40 286,658 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 20 Policy Years. Provided the Death Benfit
Guarantee Cumulative Premium Test has been and continues to be met, the
Death Benefit Guarantee will keep the Policy in force until age 100.
(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 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 Accumulated Policy Cash Death Policy Cash Death Policy Cash Death
Policy Premiums (2) Value Surrender Benefit Value Surrender Benefit Value Surrender Benefit
Year (1) Value (3) Value (3) Value (3)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 3,224 1,760 0 501,760 1,895 0 501,895 2,031 0 502,031
2 6,608 3,669 0 503,669 4,054 0 504,054 4,457 0 504,457
3 10,162 5,517 873 505,517 6,275 1,631 506,275 7,098 2,454 507,098
4 13,894 7,284 3,295 507,284 8,537 4,549 508,537 9,952 5,964 509,952
5 17,812 8,990 5,657 508,990 10,863 7,531 510,863 13,063 9,730 513,063
6 21,926 10,611 7,934 510,611 13,229 10,552 513,229 16,428 13,751 516,428
7 26,246 12,149 10,128 512,149 15,637 13,616 515,637 20,074 18,052 520,074
8 30,782 13,627 12,261 513,627 18,111 16,745 518,111 24,052 22,686 524,052
9 35,544 15,086 14,376 515,086 20,696 19,985 520,696 28,439 27,729 528,439
10 40,545 16,519 16,465 516,519 23,388 23,333 523,388 33,268 33,213 533,268
15 69,558 22,931 22,931 522,931 38,554 38,554 538,554 66,311 66,311 566,311
20 106,588 26,749 26,749 526,749 55,077 55,077 555,077 118,134 118,134 618,134
25 153,848 26,614 26,614 526,614 71,650 71,650 571,650 199,305 199,305 699,305
30 214,166 19,451 19,451 519,451 84,464 84,464 584,464 324,766 324,766 824,766
35 291,148 452 452 500,452 86,562 86,562 586,562 516,887 516,887 1,016,887
40 389,398 0 (4) 0 (4) 0 (4) 64,257 64,257 564,257 807,144 807,144 1,307,144
45 514,793 0 (4) 0 (4) 0 (4) 1,240,444 1,240,444 1,740,444
50 674,833 1,882,388 1,882,388 2,382,388
55 879,089 2,832,777 2,832,777 3,332,777
60 1,139,777 4,260,691 4,260,691 4,760,691
65 1,472,488 6,445,874 6,445,874 6,945,874
</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. Provided the Death Benfit
Guarantee Cumulative Premium Test has been and continues to be met, the
Death Benefit Guarantee will keep the Policy in force until age 100.
(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 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 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 3,224 1,760 0 501,760 1,895 0 501,895 2,031 0 502,031
2 6,608 3,496 0 503,496 3,876 0 503,876 4,273 0 504,273
3 10,162 5,149 505 505,149 5,885 1,241 505,885 6,685 2,041 506,685
4 13,894 6,715 2,727 506,715 7,917 3,929 507,917 9,277 5,289 509,277
5 17,812 8,185 4,852 508,185 9,963 6,630 509,963 12,058 8,725 512,058
6 21,926 9,556 6,879 509,556 12,018 9,341 512,018 15,041 12,364 515,041
7 26,246 10,814 8,793 510,814 14,069 12,047 514,069 18,231 16,209 518,231
8 30,782 11,963 10,597 511,963 16,114 14,748 516,114 21,648 20,282 521,648
9 35,544 12,989 12,278 512,989 18,138 17,427 518,138 25,301 24,591 525,301
10 40,545 13,893 13,838 513,893 20,140 20,085 520,140 29,213 29,158 529,213
15 69,558 17,030 17,030 517,030 30,514 30,514 530,514 55,042 55,042 555,042
20 106,588 15,076 15,076 515,076 37,962 37,962 537,962 91,468 91,468 591,468
25 153,848 4,419 4,419 504,419 37,222 37,222 537,222 140,304 140,304 640,304
30 214,166 0 (4) 0 (4) 0 (4) 19,441 19,441 519,441 202,048 202,048 702,048
35 291,148 0 (4) 0 (4) 0 (4) 271,169 271,169 771,169
40 389,398 330,978 330,978 830,978
45 514,793 338,342 338,342 838,342
50 674,833 216,928 216,928 716,928
55 879,089 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 20 Policy Years. Provided the Death Benfit
Guarantee Cumulative Premium Test has been and continues to be met, the
Death Benefit Guarantee will keep the Policy in force until age 100.
(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> 6
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 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 8,337 4,230 0 500,000 4,570 0 500,000 4,912 0 500,000
2 17,091 8,256 0 500,000 9,199 750 500,000 10,186 1,737 500,000
3 26,282 12,224 4,820 500,000 14,037 6,634 500,000 16,013 8,610 500,000
4 35,934 15,964 9,606 500,000 18,921 12,563 500,000 22,276 15,918 500,000
5 46,067 19,659 14,346 500,000 24,038 18,724 500,000 29,210 23,897 500,000
6 56,708 23,061 18,793 500,000 29,144 24,877 500,000 36,631 32,363 500,000
7 67,880 26,192 22,969 500,000 34,264 31,041 500,000 44,618 41,395 500,000
8 79,611 29,134 26,956 500,000 39,478 37,300 500,000 53,317 51,140 500,000
9 91,928 31,962 30,829 500,000 44,867 43,735 500,000 62,885 61,753 500,000
10 104,862 34,714 34,627 500,000 50,478 50,391 500,000 73,458 73,371 500,000
15 179,900 41,386 41,386 500,000 76,991 76,991 500,000 142,311 142,311 500,000
20 275,671 29,947 29,947 500,000 93,872 93,872 500,000 247,722 247,722 500,000
25 397,901 0 (4) 0 (4) 0 (4) 84,057 84,057 500,000 425,358 425,358 500,000
30 553,901 7,557 7,557 500,000 744,896 744,896 782,141
35 753,000 0 (4) 0 (4) 0 (4) 1,257,899 1,257,899 1,320,794
40 1,007,108 2,095,099 2,095,099 2,116,050
45 1,331,420 3,528,211 3,528,211 3,528,211
</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. Provided the Death Benfit
Guarantee Cumulative Premium Test has been and continues to be met, the
Death Benefit Guarantee will keep the Policy in force until age 100.
(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> 7
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 Accumulated Policy Cash Death Policy Cash Death Policy Cash Death
Policy Premiums (2) Value Surrender Benefit Value Surrender Benefit Value Surrender Benefit
Year (1) Value (3) Value (3) Value (3)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 8,337 4,230 0 500,000 4,570 0 500,000 4,912 0 500,000
2 17,091 7,085 0 500,000 7,992 0 500,000 8,944 495 500,000
3 26,282 9,500 2,096 500,000 11,160 3,757 500,000 12,981 5,577 500,000
4 35,934 11,447 5,089 500,000 14,032 7,673 500,000 16,995 10,637 500,000
5 46,067 12,877 7,564 500,000 16,537 11,224 500,000 20,932 15,618 500,000
6 56,708 13,736 9,468 500,000 18,603 14,335 500,000 24,730 20,462 500,000
7 67,880 13,967 10,745 500,000 20,146 16,924 500,000 28,318 25,095 500,000
8 79,611 13,486 11,309 500,000 21,053 18,876 500,000 31,593 29,415 500,000
9 91,928 12,191 11,059 500,000 21,186 20,054 500,000 34,425 33,292 500,000
10 104,862 9,971 9,884 500,000 20,392 20,305 500,000 36,662 36,574 500,000
15 179,900 0 0 500,000 0 0 500,000 35,833 35,833 500,000
20 275,671 0 0 500,000 0 0 500,000 0 0 500,000
25 397,901 0 (4) 0 (4) 0 (4) 0 (4) 0 (4) 0 (4) 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 20 Policy Years. Provided the Death Benfit
Guarantee Cumulative Premium Test has been and continues to be met, the
Death Benefit Guarantee will keep the Policy in force until age 100.
(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 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 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 12,154 7,536 0 507,536 8,075 0 508,075 8,615 0 508,615
2 24,915 14,783 3,984 514,783 16,322 5,523 516,322 17,928 7,129 517,928
3 38,315 21,893 12,430 521,893 24,902 15,438 524,902 28,167 18,704 528,167
4 52,384 28,692 20,565 528,692 33,645 25,518 533,645 39,238 31,111 539,238
5 67,157 35,369 28,577 535,369 42,749 35,957 542,749 51,420 44,629 551,420
6 82,669 41,665 36,209 541,665 51,960 46,504 551,960 64,549 59,094 564,549
7 98,956 47,604 43,485 547,604 61,300 57,181 561,300 78,739 74,620 578,739
8 116,057 53,273 50,490 553,273 70,858 68,075 570,858 94,182 91,399 594,182
9 134,014 58,753 57,306 558,753 80,722 79,274 580,722 111,087 109,639 611,087
10 152,869 64,085 63,973 564,085 90,943 90,832 590,943 129,641 129,530 629,641
15 262,260 83,358 83,358 583,358 143,446 143,446 643,446 250,931 250,931 750,931
20 401,875 82,403 82,403 582,403 187,595 187,595 687,595 426,887 426,887 926,887
25 580,063 47,333 47,333 547,333 204,108 204,108 704,108 674,154 674,154 1,174,154
30 807,481 0 (4) 0 (4) 0 (4) 161,387 161,387 661,387 1,011,491 1,011,491 1,511,491
35 1,097,730 4,727 4,727 504,727 1,453,425 1,453,425 1,953,425
40 1,468,170 0 (4) 0 (4) 0 (4) 2,016,578 2,016,578 2,516,578
45 1,940,956 2,753,978 2,753,978 3,253,978
</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. Provided the Death Benfit
Guarantee Cumulative Premium Test has been and continues to be met, the
Death Benefit Guarantee will keep the Policy in force until age 100.
(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> 9
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 Accumulated Policy Cash Death Policy Cash Death Policy Cash Death
Policy Premiums (2) Value Surrender Benefit Value Surrender Benefit Value Surrender Benefit
Year (1) Value (3) Value (3) Value (3)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 12,154 7,536 0 507,536 8,075 0 508,075 8,615 0 508,615
2 24,915 13,595 2,796 513,595 15,096 4,296 515,096 16,664 5,865 516,664
3 38,315 19,127 9,663 519,127 21,974 12,510 521,974 25,075 15,612 525,075
4 52,384 24,105 15,978 524,105 28,667 20,540 528,667 33,848 25,720 533,848
5 67,157 28,481 21,689 528,481 35,106 28,315 535,106 42,955 36,163 542,955
6 82,669 32,204 26,749 532,204 41,220 35,765 541,220 52,368 46,912 552,368
7 98,956 35,223 31,104 535,223 46,929 42,809 546,929 62,049 57,930 562,049
8 116,057 37,459 34,675 537,459 52,122 49,339 552,122 71,931 69,148 571,931
9 134,014 38,822 37,375 538,822 56,673 55,226 556,673 81,923 80,476 581,923
10 152,869 39,218 39,107 539,218 60,441 60,329 560,441 91,922 91,811 591,922
15 262,260 26,741 26,741 526,741 66,850 66,850 566,850 144,532 144,532 644,532
20 401,875 0 0 500,000 27,001 27,001 527,001 176,941 176,941 676,941
25 580,063 0 (4) 0 (4) 0 (4) 0 (4) 0 (4) 0 (4) 138,830 138,830 638,830
30 807,481 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 20 Policy Years. Provided the Death Benfit
Guarantee Cumulative Premium Test has been and continues to be met, the
Death Benefit Guarantee will keep the Policy in force until age 100.
(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.
