Loans and withdrawals will reduce the death benefit and the cash surrender value, and may cause the policy to lapse. Lapse or surrender of a policy with a loan may cause the recognition of taxable income. Withdrawals in excess of the cost basis (premiums paid) will be subject to tax and certain withdrawals within the first 15 years may be subject to recapture tax. Additionally, policies classified as modified endowment contracts may be subject to tax when a loan or withdrawal is made. A federal tax penalty of 10% may also apply if the loan or withdrawal is taken prior to age 59 1/2. Cash value available for loans and withdrawals may be more or less than originally invested. Withdrawals are available after the first policy year.John Hancock reserves the right to modify VUL TargetTrack, and may discontinue its availability, at any time with or without notice. Asset allocation does not ensure a profit or protect against loss. Whether an asset allocation schedule modeled by VUL TargetTrack will be appropriate for you, depends on many factors, including the specific purposes for which you are purchasing the policy, and your other financial resources, obligations and plans. You should consider all such factors carefully, in consultation with your sales representative, when deciding whether to elect or to continue any allocation schedule.
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