What is this lawsuit about?

The lawsuit alleges that Defendants, John Hancock Life Insurance Company of New York and John Hancock Life Insurance Company (U.S.A.) (collectively, “John Hancock”) increased cost of insurance (“COI”) rates on certain Performance Universal Life policies (“Class Policies”) beginning in 2018 and 2019 unlawfully and in violation of the terms of the policies (the “COI Increase”). The lawsuit further alleges that John Hancock violated certain state statutes for issuing false and misleading illustrations regarding the policies. John Hancock denies these claims; however, both sides have agreed to the Settlement to avoid the cost of further litigation.

Who is included?

The Settlement Class consists of current and former owners of any universal life insurance policy issued by John Hancock, or its predecessors, that were subjected to the COI Increase, excluding the Excluded Policies. For more information regarding the Settlement Class, please review FAQ 5-7.

How can I be eligible to receive a settlement payment?

You will automatically receive a payment in the mail if you are entitled to one. The payments will be mailed to the last known address based on John Hancock’s administrative system, after they are run through the National Change of Address database. If you would like your payment to be mailed to a different address, please contact the Settlement Administrator and submit an address update. For more information regarding settlement payments, please review FAQ 9-11.