As filed with the Securities and Exchange Commission on April 30, 2003.
File No. 333-102743
================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISISON
WASHINGTON, D.C. 20549

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POST-EFFECTIVE AMENDMENT NO. 1 TO
FORM S-3
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933

JOHN HANCOCK VARIABLE LIFE INSURANCE COMPANY
(Exact name of registrant as specified in its charter)

Massachusetts 04-2664016
(State or Other Jurisdiction (I.R.S. Employer
of Incorporation or Organization) Identification No.)

200 Clarendon Street
Boston, Massachusetts 02117
(617) 572-6000
(Address, including zip code and telephone number,
including area code, of registrant's principal executive offices)

JOHN HANCOCK FINANCIAL SERVICES, INC.
(Exact name of registrant as specified in its charter)

Delaware 04-3483032
(State or Other Jurisdiction (I.R.S. Employer
of Incorporation or Organization) Identification No.)

John Hancock Place
Boston, Massachusetts 02117
(617) 572-6000
(Address, including zip code and telephone number,
including area code, of registrant's principal executive offices)

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Arnold R. Bergman, Esquire
John Hancock Variable Life Insurance Company
John Hancock Place
Boston, Massachusetts 02117
(617) 572-9196
(Name, address, including zip code, and telephone number,
including area code, of agent for service)

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Approximate date of commencement of proposed sale to the public: As soon after
the effective date of this Registration Statement as is practicable.

If any of the securities being registered on this form are to be offered on a
delayed or continuous basis pursuant to Rule 415 under the Securities Act of
1933, other than securities offered only in connection with dividend or interest
reinvestment plans, check the following box: [X]

If this form is filed to register additional securities for an offering pursuant
to Rule 462(b) under the Securities Act, please check the following box and list
the Securities Act Registration Statement number of the earlier effective
registration statement for the same offering. [_]

If this form is a post-effective amendment filed pursuant to Rule 462(c) under
the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement
for the same offering. [_]

PROSPECTUS DATED MAY 1, 2003

REVOLUTION ACCESS VARIABLE ANNUITY

a deferred combination fixed and variable annuity contract issued by
JOHN HANCOCK VARIABLE LIFE INSURANCE COMPANY ("JHVLICO")
JOHN HANCOCK VARIABLE ACCOUNT JF

The contract enables you to earn fixed rates of interest that we guarantee
for stated periods of time ("guarantee periods") and investment-based
returns in the following variable investment options:

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VARIABLE INVESTMENT OPTIONS: UNDERLYING FUND MANAGED BY:
---------------------------- ---------------------------

EQUITY OPTIONS:
Equity Index ....................... SSgA Funds Management, Inc.
Large Cap Value .................... T. Rowe Price Associates, Inc.
Large Cap Value CORE/SM/ ........... Goldman Sachs Asset Management, L.P.
Large Cap Growth ................... Independence Investment LLC
Large Cap Aggressive Growth ........ Janus Capital Management, LLC
Earnings Growth .................... Fidelity Management & Research Company
Growth & Income .................... Independence Investment LLC and Putnam Investment Management, LLC
Fundamental Value .................. Wellington Management Company, LLP
Fundamental Growth ................. Putnam Investment Management, LLC
Mid Cap Value ...................... T. Rowe Price Associates, Inc.
Small/Mid Cap CORE/SM/ ............. Goldman Sachs Asset Management, L.P.
Small/Mid Cap Growth ............... Wellington Management Company, LLP
Small Cap Value .................... T. Rowe Price Associates, Inc. and Wellington Management Company, LLP
Small Cap Growth ................... John Hancock Advisers, LLC
Small Cap Emerging Growth .......... Wellington Management Company, LLP
AIM V.I. Premier Equity ............ A I M Advisors, Inc.
AIM V.I. Capital Development ....... A I M Advisors, Inc.
Fidelity VIP Contrafund/(R)/ ....... Fidelity Management & Research Company
MFS Investors Growth Stock ......... MFS Investment Management/(R)/
MFS Research ....................... MFS Investment Management/(R)/
International Equity Index ......... Independence Investment LLC
International Opportunities ........ T. Rowe Price International, Inc.
Overseas Equity .................... Capital Guardian Trust Company
Fidelity VIP Overseas .............. Fidelity Management & Research Company
Emerging Markets Equity ............ Van Kampen (a registered trade name of Morgan Stanley Investment Management Inc.)
Janus Aspen Worldwide Growth ....... Janus Capital Management, LLC
Real Estate Equity ................. RREEF America LLC and Van Kampen (a registered trade name of Morgan Stanley
Investment Management Inc.)
Health Sciences .................... Wellington Management Company, LLP
Financial Industries ............... John Hancock Advisers, LLC
Janus Aspen Global Technology ...... Janus Capital Management, LLC

BALANCED OPTIONS:
Managed ............................ Independence Investment LLC and Capital Guardian Trust Company

BOND & MONEY MARKET OPTIONS:
Short-Term Bond .................... Independence Investment LLC
Bond Index ......................... Standish Mellon Asset Management Company LLC
Active Bond ........................ John Hancock Advisers, LLC
Total Return Bond .................. Pacific Investment Management Company LLC
High Yield Bond .................... Wellington Management Company, LLP
Global Bond ........................ Capital Guardian Trust Company
Money Market ....................... Wellington Management Company, LLP
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The variable investment options shown on page 1 are those available as of the
date of this prospectus. We may add, modify or delete variable investment
options in the future.

When you select one or more of these variable investment options, we invest
your money in the corresponding investment option(s) of one or more of the
following: the John Hancock Variable Series Trust I, the AIM Variable Insurance
Funds, Fidelity's Variable Insurance Products Fund (Service Class) and Variable
Insurance Products Fund II (Service Class), the Janus Aspen Series (Service
Shares Class), and the MFS Variable Insurance Trust (Initial Class) (together,
the " Series Funds"). In this prospectus, the investment options of the Series
Funds are referred to as funds. In the prospectuses for the Series Funds, the
investment options may also be referred to as "funds," "portfolios" or "series."

Each Series Fund is a so-called "series" type mutual fund registered with the
Securities and Exchange Commission ("SEC"). The investment results of each
variable investment option you select will depend on those of the corresponding
fund of one of the Series Funds. Each of the funds is separately managed and has
its own investment objective and strategies. Attached at the end of this
prospectus is a prospectus for each Series Fund. The Series Fund prospectuses
contain detailed information about each available fund. Be sure to read those
prospectuses before selecting any of the variable investment options shown on
page 1.

For amounts you don't wish to invest in a variable investment option, you
currently can select a five year guarantee period. (We may make additional
guarantee periods available in the future, each of which would have its own
guaranteed interest rate and expiration date, and we may make one or more
additional guarantee periods available for contracts issued before September 30,
2002. We cannot provide any assurance that we will make any additional guarantee
periods available, however.)

If you remove money from any guarantee period prior to its expiration,
however, we may increase or decrease your contract's value to compensate for
changes in interest rates that may have occurred subsequent to the beginning of
that guarantee period. This is known as a "market value adjustment."

JOHN HANCOCK ANNUITY SERVICING OFFICE
-------------------------------------

MAIL DELIVERY
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P.O. Box 772
Boston, MA 02117

OVERNIGHT DELIVERY
------------------
John Hancock Annuity Image Operations
27 Dry Dock Avenue, Second floor
South Boston, MA 02110

PHONE: 1-800-824-0335

FAX: 1-617-572-1571

Contracts are not deposits or obligations of, or insured, endorsed, or
guaranteed by the U.S. Government, any bank, the Federal Deposit Insurance
Corporation, the Federal Reserve Board, or any other agency, entity or person,
other than JHVLICO. They involve investment risks including the possible loss of
principal.

********************************************************************************

Please note that the SEC has not approved or disapproved these securities, or
determined if this prospectus is truthful or complete. Any representation to the
contrary is a criminal offense.

GUIDE TO THIS PROSPECTUS

This prospectus contains information that you should know before you buy a
contract or exercise any of your rights under the contract. We have arranged the
prospectus in the following way:

. The first section contains an "INDEX OF KEY WORDS."

. Behind the index is the "FEE TABLE." This section highlights the various
fees and expenses you will pay directly or indirectly, if you purchase a
contract.

. The next section is called "BASIC INFORMATION." It contains basic
information about the contract presented in a question and answer format.
You should read the Basic Information before reading any other section of
the prospectus.

. Behind the Basic Information is "ADDITIONAL INFORMATION." This section
gives more details about the contract. It generally does not repeat
information contained in the Basic Information.

The Series Funds' prospectuses are attached at the end of this prospectus. You
should save these prospectuses for future reference.

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IMPORTANT NOTICES

This is the prospectus - it is not the contract. The prospectus simplifies many
contract provisions to better communicate the contract's essential features.
Your rights and obligations under the contract will be determined by the
language of the contract itself. On request, we will provide the form of
contract for you to review. In any event, when you receive your contract, we
suggest you read it promptly.

We've also filed with the SEC a "Statement of Additional Information." This
Statement contains detailed information not included in the prospectus. Although
a separate document from this prospectus, the Statement of Additional
Information has the same legal effect as if it were a part of this prospectus.
We will provide you with a free copy of the Statement upon your request. To give
you an idea what's in the Statement, we have included a copy of the Statement's
table of contents on page 43.

The contracts are not available in all states. This prospectus does not
constitute an offer to sell, or a solicitation of an offer to buy, securities in
any state to any person to whom it is unlawful to make or solicit an offer in
that state.
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INDEX OF KEY WORDS

We define or explain each of the following key words used in this prospectus
on the pages shown below:

KEY WORD PAGE

Accumulation units................................... 28
Annuitant............................................ 10
Annuity payments..................................... 12
Annuity period....................................... 12
Contract year........................................ 10
Date of issue........................................ 10
Date of maturity..................................... 28
Funds................................................ 2
Guarantee period..................................... 12
Investment options................................... 12
Market value adjustment.............................. 12
Premium payments..................................... 10
Surrender............................................ 16
Surrender value...................................... 16
Total value of your contract......................... 12
Variable investment options..........................cover
Withdrawal........................................... 16

FEE TABLES

THE FOLLOWING TABLES DESCRIBE THE FEES AND EXPENSES THAT YOU WILL PAY WHEN
BUYING, OWNING AND SURRENDERING A REVOLUTION ACCESS CONTRACT. THE FIRST TABLE
DESCRIBES THE CHARGES THAT YOU WILL PAY AT THE TIME THAT YOU BUY THE CONTRACT,
SURRENDER THE CONTRACT, OR TRANSFER ACCOUNT VALUE BETWEEN INVESTMENT OPTIONS.
STATE PREMIUM TAXES MAY ALSO BE DEDUCTED.

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Contractowner Transaction Expenses Revolution Access
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Maximum transfer charge/1/ $25
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/1/This charge is not currently imposed, but we reserve the right to do so in
the contract. If we do, it will be taken upon each transfer into or out of a
variable investment option beyond an annual limit of not less than 12.

THE NEXT TABLE DESCRIBES THE FEES AND EXPENSES THAT YOU WILL PAY PERIODICALLY
DURING THE TIME YOU OWN THE CONTRACT. THIS TABLE DOES NOT INCLUDE FEES AND
EXPENSES PAID AT THE FUND LEVEL.

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Revolution Access
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Maximum Annual Contract Fee/2/ $50
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Current Annual Contract Fee/3/ $30
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Separate Account Annual Expenses (as a 1.25%
percentage of average account value)/4/
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Optional Benefit Rider Charges/5/:
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Enhanced Death Benefit Rider/6/ 0.25% of your contract's
total value
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Earnings Enhancement ("Beneficiary Tax Relief") 0.25% of your contract's
Death Benefit Rider total value
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Accumulated Value Enhancement ("CARESolutions 0.40% of your initial
Plus") Rider/7/ premium payment
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Guaranteed Retirement Income Benefit Rider 0.30% of your contract's
total value
- -------------------------------------------------------------------------------

/2/This charge is not currently imposed, and would only apply to contracts of
less than $50,000.

/3/This charge applies only to contracts of less than $50,000. It is taken at
the end of each contract year but, if you surrender a contract before then,
it will be taken at the time of surrender.

/4/This charge only applies to that portion of account value held in the
variable investment options. The charge does not apply to amounts in the
guarantee periods or in the guarantee rate account under our dollar-cost
averaging value program.

/5/Charges for optional benefit riders are assessed monthly. The monthly
charge is 1/12th of the annual charge shown in the table.

/6/In certain states (and for riders issued prior to May 1, 2002), the rate
for the Enhanced Death Benefit rider maybe lower than the amount shown.

/7/We reserve the right to increase the annual charge shown on a uniform basis
for all Accumulated Value Enhancement riders issued in the same state.

THE NEXT TABLE DESCRIBES THE MINIMUM AND MAXIMUM TOTAL OPERATING EXPENSES
CHARGED BY THE FUNDS THAT YOU MAY PAY PERIODICALLY DURING THE TIME YOU OWN A
REVOLUTION ACCESS CONTRACT. MORE DETAIL CONCERNING EACH FUND'S FEES AND EXPENSES
IS CONTAINED IN THE SERIES FUNDS' PROSPECTUSES.

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Total Annual Fund Operating Expenses Minimum Maximum
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Range of expenses that are deducted from 0.23% 3.45%
fund assets, including management fees,
distribution and/ or service (12b-1) fees,
and other expenses
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Range of expenses after taking account of 0.23% 1.60%*
certain reimbursements or waivers of
expenses and fees
- -----------------------------------------------------------------------------------------------

* Under its current investment management agreements with the John Hancock
Variable Series Trust I ("JHVST"), John Hancock Life Insurance Company has
contractually agreed to reimburse each JHVST fund when the fund's "other fund
expenses" exceed 0.10% of its average daily net assets. The agreements will
remain in effect until May 1, 2004, and may be renewed each year thereafter
by the John Hancock Variable Series Trust I. The following table lists the
JHVST funds available under your contract that are subject to these
agreements. See the prospectuses for the Series Funds for other information
on reimbursement or waiver arrangements affecting the funds.

The next table describes fund level fees and expenses for each of the funds.
More detail concerning each fund's fees and expenses is contained in the
prospectuses for the Series Funds.

TOTAL FUND TOTAL FUND
DISTRIBUTION OTHER OPERATING OPERATING OPERATING
INVESTMENT AND EXPENSES EXPENSES EXPENSES
MANAGEMENT SERVICE (12B-1) WITHOUT WITHOUT EXPENSE WITH
FUND NAME FEE FEES REIMBURSEMENT REIMBURSEMENT REIMBURSEMENT REIMBURSEMENT
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JOHN HANCOCK VARIABLE SERIES
TRUST I (NOTE 1):
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Equity Index . . . . . . . . . . 0.13% N/A 0.10% 0.23% 0.00% 0.23%
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Large Cap Value. . . . . . . . . 0.75% N/A 0.08% 0.83% 0.00% 0.83%
- ------------------------------------------------------------------------------------------------------------------------------
Large Cap Value CORE/SM/ . . . . 0.74% N/A 0.23% 0.97% 0.13% 0.84%
- ------------------------------------------------------------------------------------------------------------------------------
Large Cap Growth . . . . . . . . 0.79% N/A 0.08% 0.87% 0.00% 0.87%
- ------------------------------------------------------------------------------------------------------------------------------
Large Cap Aggressive Growth. . . 0.87% N/A 0.11% 0.98% 0.01% 0.97%
- ------------------------------------------------------------------------------------------------------------------------------
Earnings Growth* . . . . . . . . 0.95% N/A 0.09% 1.04% 0.00% 1.04%
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Growth & Income. . . . . . . . . 0.67% N/A 0.08% 0.75% 0.00% 0.75%
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Fundamental Value . . . . . . . 0.77% N/A 0.08% 0.85% 0.00% 0.85%
- ------------------------------------------------------------------------------------------------------------------------------
Fundamental Growth . . . . . . . 0.90% N/A 0.26% 1.16% 0.16% 1.00%
- ------------------------------------------------------------------------------------------------------------------------------
Mid Cap Value. . . . . . . . . . 1.10% N/A 0.10% 1.20% 0.00% 1.20%
- ------------------------------------------------------------------------------------------------------------------------------
Small/Mid Cap CORE/SM/. . . . . 1.05% N/A 0.25% 1.30% 0.15% 1.15%
- ------------------------------------------------------------------------------------------------------------------------------
Small/Mid Cap Growth . . . . . . 0.97% N/A 0.10% 1.07% 0.00% 1.07%
- ------------------------------------------------------------------------------------------------------------------------------
Small Cap Value. . . . . . . . . 0.95% N/A 0.09% 1.04% 0.00% 1.04%
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Small Cap Growth . . . . . . . . 1.05% N/A 0.08% 1.13% 0.00% 1.13%
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Small Cap Emerging Growth* . . . 1.05% N/A 0.14% 1.19% 0.04% 1.15%
- ------------------------------------------------------------------------------------------------------------------------------
International Equity Index . . . 0.18% N/A 0.28% 0.46% 0.18% 0.28%
- ------------------------------------------------------------------------------------------------------------------------------
International Opportunities. . . 1.14% N/A 0.41% 1.55% 0.31% 1.24%
- ------------------------------------------------------------------------------------------------------------------------------
Overseas Equity* . . . . . . . . 1.05% N/A 0.40% 1.45% 0.30% 1.15%
- ------------------------------------------------------------------------------------------------------------------------------
Emerging Markets Equity. . . . . 1.50% N/A 1.95% 3.45% 1.85% 1.60%
- ------------------------------------------------------------------------------------------------------------------------------
Real Estate Equity . . . . . . . 0.98% N/A 0.09% 1.07% 0.00% 1.07%
- ------------------------------------------------------------------------------------------------------------------------------
Health Sciences. . . . . . . . . 1.00% N/A 0.35% 1.35% 0.25% 1.10%
- ------------------------------------------------------------------------------------------------------------------------------
Financial Industries . . . . . . 0.80% N/A 0.10% 0.90% 0.00% 0.90%
- ------------------------------------------------------------------------------------------------------------------------------
Managed. . . . . . . . . . . . . 0.68% N/A 0.08% 0.76% 0.00% 0.76%
- ------------------------------------------------------------------------------------------------------------------------------
Short-Term Bond. . . . . . . . . 0.60% N/A 0.08% 0.68% 0.00% 0.68%
- ------------------------------------------------------------------------------------------------------------------------------
Bond Index . . . . . . . . . . . 0.14% N/A 0.11% 0.25% 0.01% 0.24%
- ------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------
AIM VARIABLE INSURANCE FUNDS -
SERIES I SHARES:
- ------------------------------------------------------------------------------------------------------------------------------
AIM V.I. Premier Equity Fund . . 0.61% N/A 0.24% 0.85% 0.00% 0.85%
- ------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------
AIM VARIABLE INSURANCE FUNDS -
SERIES II SHARES:
- ------------------------------------------------------------------------------------------------------------------------------
AIM V.I. Capital Development Fund 0.75% 0.25% 0.39% 1.39% 0.00% 1.39%
- ------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------
VARIABLE INSURANCE PRODUCTS FUND
- SERVICE CLASS:
- ------------------------------------------------------------------------------------------------------------------------------
Fidelity/(R)/ VIP Overseas . . . 0.73% 0.10% 0.17% 1.00% 0.00% 1.00%
- ------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------
VARIABLE INSURANCE PRODUCTS FUND
II - SERVICE CLASS:
- ------------------------------------------------------------------------------------------------------------------------------
Fidelity/(R)/ VIP Contrafund/(R)/ 0.58% 0.10% 0.10% 0.78% 0.00% 0.78%
- ------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------
JANUS ASPEN SERIES - SERVICE
SHARES CLASS:
- ------------------------------------------------------------------------------------------------------------------------------
Janus Aspen Worldwide Growth . . 0.65% 0.25% 0.05% 0.95% 0.00% 0.95%
- ------------------------------------------------------------------------------------------------------------------------------
Janus Aspen Global Technology. . 0.65% 0.25% 0.07% 0.97% 0.00% 0.97%
- ------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------
MFS VARIABLE INSURANCE TRUST
INITIAL CLASS SHARES (NOTE 2):
- ------------------------------------------------------------------------------------------------------------------------------
MFS/(R)/ Investors Growth Stock. 0.75% N/A 0.13% 0.88% 0.00% 0.88%
- ------------------------------------------------------------------------------------------------------------------------------
MFS/(R)/ Research. . . . . . . . 0.75% N/A 0.12% 0.87% 0.00% 0.87%
- ------------------------------------------------------------------------------------------------------------------------------

(1) Under its current investment management agreements with the John Hancock
Variable Series Trust I ("JHVST"), John Hancock Life Insurance Company has
contractually agreed to reimburse each JHVST fund when the fund's "other
fund expenses" exceed 0.10% of its average daily net assets. The agreements
will remain in effect until May 1, 2004, and may be renewed each year
thereafter by JHVST. Percentages shown for the Large Cap Growth and
Small/Mid Cap CORE/SM/ funds are calculated as if the current management fee
schedules, which apply to these funds effective October 1, 2002, were in
effect for all of 2002. Percentages shown for the Small Cap Emerging Growth
fund are calculated as if the current management fee schedule, which applies
to this fund effective May 1, 2003, was in effect for all of 2002. The
percentages shown for the Mid Cap Value and Total Return Bond funds are
estimates because the funds were not in operation prior to the date of this
prospectus. The percentages shown for the Financial Industries fund are
based on the fund's current management fee schedule and the operating
expenses and average daily net assets of the fund's predecessor during
2002."CORE/SM/" is a service mark of Goldman, Sachs & Co.

* Earnings Growth was formerly "Multi Cap Growth," Small Cap Emerging Growth
was formerly "Small Cap Equity," and Overseas Equity was formerly "Global
Balanced."

(2) MFS Variable Insurance Trust funds have an expense offset arrangement which
reduces each fund's custodian fee based upon the amount of cash maintained
by the fund with its custodian and dividend disbursing agent. Each fund may
enter into other similar

arrangements and directed brokerage arrangements, which would also have the
effect of reducing the fund's expenses. "Other Operating Expenses" do not
take into account these expense reductions, and are therefore higher than
the actual expenses of the funds. Had these fee reductions been taken into
account, "Total Fund Operating Expenses with Reimbursement" would equal
0.87% for MFS Investors Growth Stock and 0.86% for MFS Research.

EXAMPLES

THE FOLLOWING TWO EXAMPLES ARE INTENDED TO HELP YOU COMPARE THE COST OF
INVESTING IN A REVOLUTION ACCESS CONTRACT WITH THE COST OF INVESTING IN OTHER
VARIABLE ANNUITY CONTRACTS. THESE COSTS INCLUDE CONTRACT OWNER TRANSACTION
EXPENSES, CONTRACT FEES, SEPARATE ACCOUNT ANNUAL EXPENSES AND FUND FEES AND
EXPENSES.

THE FIRST EXAMPLE ASSUMES THAT YOU INVEST $10,000 IN AN "ALL RIDER" CONTRACT
WITH THE FOLLOWING OPTIONAL BENEFIT RIDERS: ENHANCED DEATH BENEFIT RIDER,
EARNINGS ENHANCEMENT DEATH BENEFIT RIDER, ACCUMULATED VALUE ENHANCEMENT RIDER
AND GUARANTEED RETIREMENT INCOME BENEFIT RIDER. THE FIRST EXAMPLE ALSO ASSUMES
THAT YOUR INVESTMENT HAS A 5% RETURN EACH YEAR AND ASSUMES THE MAXIMUM ANNUAL
CONTACT FEE AND THE MAXIMUM FEES AND EXPENSES OF ANY OF THE FUNDS. ALTHOUGH YOUR
ACTUAL COSTS MAY BE HIGHER OR LOWER, BASED ON THESE ASSUMPTIONS, YOUR COSTS
WOULD BE:

Revolution Access - maximum fund-level total operating expenses
- ---------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------
1 YEAR 3 YEARS 5 YEARS 10 YEARS
- ------------------------------------------------------------------------------------------------------

(1) IF YOU SURRENDER YOUR ALL RIDER CONTRACT AT THE END OF
THE APPLICABLE TIME PERIOD: $410 $1597 $2761 $5578
- ------------------------------------------------------------------------------------------------------
(2) IF YOU ANNUITIZE YOUR ALL RIDER CONTRACT AT THE END OF
THE APPLICABLE TIME PERIOD: $410 $1597 $2761 $5578
- ------------------------------------------------------------------------------------------------------
(3) IF YOU DO NOT SURRENDER YOUR ALL RIDER CONTRACT: $410 $1597 $2761 $5578
- ------------------------------------------------------------------------------------------------------

THE NEXT EXAMPLE ASSUMES THAT YOU INVEST $10,000 IN A "NO RIDER" CONTRACT WITH
NO OPTIONAL BENEFIT RIDERS FOR THE TIME PERIODS INDICATED. THIS EXAMPLE ALSO
ASSUMES THAT YOUR INVESTMENT HAS A 5% RETURN EACH YEAR AND ASSUMES THE AVERAGE
ANNUAL CONTRACT FEE WE EXPECT TO RECEIVE FOR THE CONTRACTS AND THE MINIMUM FEES
AND EXPENSES OF ANY OF THE FUNDS.

ALTHOUGH YOUR ACTUAL COSTS MAY BE HIGHER OR LOWER, BASED ON THESE ASSUMPTIONS,
YOUR COSTS WOULD BE:

Revolution Access - minimum fund-level total operating expenses
- ---------------------------------------------------------------

(1) IF YOU SURRENDER YOUR NO RIDER CONTRACT AT THE END OF THE $153 $474 $818 $1791
APPLICABLE TIME PERIOD:
- -------------------------------------------------------------------------------------------------------
(2) IF YOU ANNUITIZE YOUR NO RIDER CONTRACT AT THE END OF THE $153 $474 $818 $1791
APPLICABLE TIME PERIOD:
- -------------------------------------------------------------------------------------------------------
(3) IF YOU DO NOT SURRENDER YOUR NO RIDER CONTRACT: $153 $474 $818 $1791
- -------------------------------------------------------------------------------------------------------

BASIC INFORMATION

This "Basic Information" section provides answers to commonly asked questions
about the contract. Here are the page numbers where the questions and answers
appear:

QUESTION STARTING ON PAGE
-------- ----------------

What is the contract? .............................................. 10

Who owns the contract? ............................................. 10

Is the owner also the annuitant? ................................... 10

How can I invest money in a contract? .............................. 10

How will the value of my investment in the contract change
over time? ......................................................... 12

What annuity benefits does the contract provide? ................... 12

To what extent can JHVLICO vary the terms and conditions of
its contracts? ..................................................... 13

What are the tax consequences of owning a contract? ................ 13

How can I change my contract's investment allocations? ............. 14

What fees and charges will be deducted from my contract? ........... 16

How can I withdraw money from my contract? ......................... 16

What happens if the owner or the annuitant dies before my
contract's date of maturity? ....................................... 17

What other benefits can I purchase under a contract? ............... 20

Can I return my contract? .......................................... 21

What additional guarantee applies to the guarantee periods
under my contract? ................................................. 21

What are the terms of the additional guarantee? .................... 22

WHAT IS THE CONTRACT?

The contract is a deferred payment variable annuity contract. An "annuity
contract" provides a person (known as the "annuitant" or "payee") with a series
of periodic payments. Because this contract is also a "deferred payment"
contract, the "annuity payments" will begin on a future date, called the
contract's "date of maturity." Under a "variable" annuity contract, the amount
you have invested can increase or decrease in value daily based upon the value
of the variable investment options chosen. If your annuity is provided under a
master group contract, the term "contract" as used in this prospectus refers to
the certificate you will be issued and not to the master group contract.

WHO OWNS THE CONTRACT?

That's up to you. Unless the contract provides otherwise, the owner of the
contract is the person who can exercise the rights under the contract, such as
the right to choose the investment options or the right to surrender the
contract. In many cases, the person buying the contract will be the owner.
However, you are free to name another person or entity (such as a trust) as
owner. In writing this prospectus, we've assumed that you, the reader, are the
person or persons entitled to exercise the rights and obligations under
discussion. If a contract has joint owners, both must join in any written notice
or request.

IS THE OWNER ALSO THE ANNUITANT?

In many cases, the same person is both the annuitant and the owner of a
contract. The annuitant is the person whose lifetime is used to measure the
period of time when we make various forms of annuity payments. Also, the
annuitant receives payments from us under any annuity option that commences
during the annuitant's lifetime. We may permit you to name another person as
annuitant or joint annuitant if that person meets our underwriting standards. We
may also permit you to name as joint annuitants two persons other than yourself
if those persons meet our underwriting standards.

HOW CAN I INVEST MONEY IN A CONTRACT?

Premium payments

We call the investments you make in your contract premiums or premium
payments. In general, you need at least a $25,000 initial premium payment to
purchase a contract. If you purchase your contract through the automatic
investment plan, different minimums may apply. If you choose to contribute more
money into your contract, each subsequent premium payment must be at least $200
($100 for the annuity direct deposit program). If your contract's total value
ever falls to zero, we may terminate it. Therefore, you may need to pay more
premiums to keep the contract in force.

Applying for a contract

An authorized representative of the broker-dealer or financial institution
through whom you purchase your contract will assist you in (1) completing an
application or placing an order for a contract and (2) transmitting it, along
with your initial premium payment, to the John Hancock Annuity Servicing Office.

Once we receive your initial premium payment and all necessary information, we
will issue your contract and invest your initial premium payment within two
business days. If the information is not in good order, we will contact you to
get the necessary information. If for some reason, we are unable to complete
this process within 5 business days, we will either send back your money or get
your permission to keep it until we get all of the necessary information.

In certain situations, we will issue a contract upon receiving the order of
your broker-dealer or financial institution but delay the effectiveness of the
contract until we receive your signed application. (What we mean by "delaying
effectiveness" is that we will not allow allocations to the variable investment
options until we receive your signed application.) In those situations, if we do
not receive your signed application within our required time period, we will
deem the contract void from the beginning and return your premium payment.

We measure the years and anniversaries of your contract from its date of
issue. We use the term contract year to refer to each period of time between
anniversaries of your contract's date of issue.

Limits on premium payments

You can make premium payments of up to $1,000,000 in any one contract year.
The total of all new premium payments and transfers that you allocate to any
one variable investment option or guarantee period in any one contract year may
not exceed $1,000,000. While the annuitant is alive and the contract is in
force, you can make premium payments at any time before the date of maturity.

However,
- -------------------------------------------------------------------------------
YOU MAY NOT MAKE ANY PREMIUM
IF YOUR CONTRACT IS USED TO FUND PAYMENTS AFTER THE ANNUITANT
REACHES AGE
- -------------------------------------------------------------------------------
a "tax qualified plan"* 70 1/2**
- -------------------------------------------------------------------------------
a non-tax qualified plan 85
- -------------------------------------------------------------------------------

* as that term is used in "Tax Information," beginning on page 33.
** except for a Roth IRA, which has no age limit.

We will not issue a contract if any proposed owner or annuitant is older than
age 84. We may, however, waive this underwriting limit.

Ways to make premium payments

Premium payments made by check or money order should be:

.. drawn on a U.S. bank,

.. drawn in U.S. dollars, and

.. made payable to "John Hancock."

We will not accept credit card checks. Nor will we accept starter or third
party checks that fail to meet our administrative requirements.

Premium payments after the initial premium payment should be sent to:

--------------------------------------------------
JOHN HANCOCK ANNUITY SUBSEQUENT PAYMENTS, X-4
---------------------------------------------

MAIL DELIVERY
-------------
1 John Hancock Way
Suite 1501
Boston, MA 02117-1501

OVERNIGHT DELIVERY
------------------
529 Main Street
Charleston, MA 02129
--------------------------------------------------

We will accept your initial premium payment by exchange from another insurance
company. You can find information about wire payments under "Premium payments by
wire," below. You can find information about other methods of premium payment by
contacting your broker-dealer or by contacting the John Hancock Annuity
Servicing Office.

Once we have issued your contract and it becomes effective, we credit you with
any additional premiums you pay as of the day we receive them.

Premium payments by wire

If you purchase your contract through a broker-dealer firm or financial
institution, you may transmit your initial premium payment by wire order. Your
wire orders must include information necessary to allocate the premium payment
among your selected investment options.

while attempting to obtain the missing information. If we can't obtain the
information within 5 business days, we will immediately return your premium
payment, unless you tell us to hold the premium payment for 5 more days pending
completion of the application. Nevertheless, until we receive and accept a
properly completed and signed application, we will not:

. issue a contract;

. accept premium payments; or

. allow other transactions.

After we issue your contract, subsequent premium payments may be transmitted
by wire through your bank. Information about our bank, our account number, and
the ABA routing number may be obtained from the John Hancock Annuity Servicing
Office. Banks may charge a fee for wire services.

HOW WILL THE VALUE OF MY INVESTMENT IN THE CONTRACT CHANGE OVER TIME?

Prior to a contract's date of maturity, the amount you've invested in any
variable investment option will increase or decrease based upon the investment
experience of the corresponding fund. Except for certain charges we deduct, your
investment experience will be the same as if you had invested in the fund
directly and reinvested all fund dividends and distributions in additional
shares.

Like a regular mutual fund, each fund deducts investment management fees and
other operating expenses. These expenses are shown in the Fee Tables. However,
unlike a mutual fund, we will also deduct charges relating to the annuity
guarantees and other features provided by the contract. These charges reduce
your investment performance and the amount we have credited to your contract in
any variable investment option. We describe these charges under "What fees and
charges will be deducted from my contract?" beginning on page 16.

The amount you've invested in a guarantee period will earn interest at the
rate we have set for that period. The interest rate depends upon the length of
the guarantee period you select. In states where approved, we currently make
available guarantee periods with durations for five years, and we may make one
or more additional guarantee periods available for contracts issued before
September 30, 2002. As long as you keep your money in a guarantee period until
its expiration date, we bear all the investment risk on that money.

However, if you prematurely transfer, "surrender" or otherwise withdraw money
from a guarantee period we will increase or reduce the remaining value in your
contract by an amount that approximates the impact that any changes in interest
rates would have had on the market value of a debt instrument with terms
comparable to that guarantee period. This "market value adjustment" (or "MVA")
imposes investment risks on you. We describe how the market value adjustments
work in "Calculation of market value adjustment ("MVA")" beginning on page 27.

At any time before the date of maturity, the total value of your contract
equals:

.. the total amount you invested,

.. minus all charges we deduct,

.. minus all withdrawals you have made,

.. plus or minus any positive or negative MVAs that we have made at the time of
any premature withdrawals or transfers you have made from a guarantee period,

.. plus or minus each variable investment option's positive or negative
investment return that we credit daily to any of your contract's value while
it is in that option, and

.. plus the interest we credit to any of your contract's value while it is in a
guarantee period.

WHAT ANNUITY BENEFITS DOES THE CONTRACT PROVIDE?

If your contract is still in effect on its date of maturity, it enters what is
called the annuity period. During the annuity period, we make a series of fixed
or variable payments to you as provided under one of our several annuity
options. The form in which we will make the annuity payments, and the proportion
of such payments that will be on a fixed basis and on a variable basis, depend
on the elections that you have in effect on the date of maturity. Therefore you
should exercise care in selecting your date of maturity and your choices that
are in effect on that date.

You should carefully review the discussion under "The annuity period,"
beginning on page 28, for information about all of these choices you can make.

TO WHAT EXTENT CAN JHVLICO VARY THE TERMS AND CONDITIONS OF ITS CONTRACTS?

State law insurance requirements

Insurance laws and regulations apply to us in every state in which our
contracts are sold. As a result, various terms and conditions of your contract
may vary from the terms and conditions described in this prospectus, depending
upon where you reside. These variations will be reflected in your contract or in
endorsements attached to your contract.

Variations in charges or rates

We may vary the charges, guarantee periods, and other terms of our contracts
where special circumstances result in sales or administrative expenses,
mortality risks or other risks that are different from those normally associated
with the contracts. These include the types of variations discussed under
"Certain changes" in the Additional Information section of this prospectus.

WHAT ARE THE TAX CONSEQUENCES OF OWNING A CONTRACT?

In most cases, no income tax will have to be paid on amounts you earn under a
contract until these earnings are paid out. All or part of the following
distributions from a contract may constitute a taxable payout of earnings:

.. partial withdrawal (including systematic withdrawals)

.. full withdrawal ("surrender")

.. payment of any death benefit proceeds, and

.. periodic payments under one of our annuity payment options.

In addition, if you elect the accumulated value enhancement rider, the
Internal Revenue Service might take the position that the annual charge for this
rider is deemed a withdrawal from the contract which is subject to income tax
and, if applicable, the special 10% penalty tax for withdrawals before the age
of 59 1/2.

How much you will be taxed on a distribution is based upon complex tax rules
and depends on matters such as:

.. the type of the distribution,

.. when the distribution is made,

.. the nature of any tax qualified retirement plan for which the contract is
being used, if any, and

.. the circumstances under which the payments are made.

If your contract is issued in connection with a tax-qualified retirement plan,
all or part of your premium payments may be tax-deductible.

Special 10% tax penalties apply in many cases to the taxable portion of any
distributions from a contract before you reach age 59 1/2. Also, most
tax-qualified plans require that distributions from a contract commence and/or
be completed by a certain period of time. This effectively limits the period of
time during which you can continue to derive tax deferral benefits from any
tax-deductible premiums you paid or on any earnings under the contract.

THE FAVORABLE TAX BENEFITS AVAILABLE FOR ANNUITY CONTRACTS ISSUED IN
CONNECTION WITH TAX-QUALIFIED PLANS ARE ALSO GENERALLY AVAILABLE FOR OTHER TYPES
OF INVESTMENTS OF TAX-QUALIFIED PLANS, SUCH AS INVESTMENTS IN MUTUAL FUNDS,
EQUITIES AND DEBT INSTRUMENTS. YOU SHOULD CAREFULLY CONSIDER WHETHER THE
EXPENSES UNDER AN ANNUITY CONTRACT ISSUED IN CONNECTION WITH A TAX-QUALIFIED
PLAN, AND THE INVESTMENT OPTIONS, DEATH BENEFITS AND LIFETIME ANNUITY INCOME
OPTIONS PROVIDED UNDER SUCH AN ANNUITY CONTRACT, ARE SUITABLE FOR YOUR NEEDS AND
OBJECTIVES.

HOW CAN I CHANGE MY CONTRACT'S INVESTMENT ALLOCATIONS?

Allocation of premium payments

When you apply for your contract, you specify the variable investment options
or guarantee periods (together, your investment options) in which your premium
payments will be allocated. You may change this investment allocation for future
premium payments at any time. Any change in allocation will be effective as of
receipt of your request at the John Hancock Annuity Servicing Office.

Currently, you may use a maximum of 18 investment options over the life of
your contract. For purposes of this limit, each contribution or transfer of
assets into a variable investment option or guarantee period that you are not
then using or have not previously used counts as one "use" of an investment
option. Renewing a guarantee period upon its expiration does not count as a new
use, however, if the new guarantee period has the same number of years as the
expiring one.

Transferring your assets

Up to 12 times during each year of your contract, you may transfer, free of
any charge,

.. all or part of the assets held in one VARIABLE INVESTMENT OPTION to any other
available variable investment option or guarantee period, or

.. all or part of the assets held in one GUARANTEE PERIOD to any other available
guarantee period or variable investment option (these transfers may, however,
incur a market value adjustment - either positive or negative).

Currently, we impose no charge for transfers of more than 12 per contract
year. However, we reserve the right to impose a charge of up to $25 on any
transfers in excess of the 12 free transfers or to prohibit any such transfers
altogether. Transfers under our strategic rebalancing or dollar-cost averaging
programs do not count toward the 12 you are allowed each year. However, you may
not:

.. transfer more than $1,000,000 in a contract year into any one variable
investment option or guarantee period, without our prior approval,

.. make any transfer that would cause you to exceed the above-mentioned maximum
of 18 investment options,

.. make any transfers, during the annuity period, to or from a guarantee period,
or

.. make any transfer during the annuity period that would result in more than
four investment options being used at once.

We reserve the right to prohibit a transfer less than 30 days prior to the
contract's date of maturity.

The contract you are purchasing was not designed for professional market
timing organizations or other persons that use programmed or frequent transfers.
The use of such transfers may be disruptive to a fund. We reserve the right to
reject any premium payment or transfer request from any person, if in our
judgment, a fund would be unable to invest effectively in accordance with its
investment objectives and policies, or would otherwise be potentially adversely
affected.

Procedure for transferring your assets

You may request a transfer in writing or, if you have authorized telephone
transfers, by telephone or fax. All transfer requests should be directed to the
John Hancock Annuity Servicing Office at the location shown on page 2.

Your request should include:

.. your name,

.. daytime telephone number,

.. contract number,

.. the names of the investment options to and from which assets are being
transferred, and

.. the amount of each transfer.

The request becomes effective on the day we receive your request, in proper
form, at the John Hancock Annuity Servicing Office.

Telephone transfers

Once you have completed a written authorization, you may request a transfer by
telephone or by fax. If the fax request option becomes unavailable, another
means of telecommunication will be substituted. YOUR ABILITY TO ACCESS OR
TRANSACT BUSINESS BY TELEPHONE OR FAX MAY BE LIMITED DUE TO CIRCUMSTANCES BEYOND
OUR CONTROL, SUCH AS SYSTEMS OUTAGES OR ILLEGIBLE TRANSMISSIONS.

If you authorize telephone transactions, you will be liable for any loss,
expense or cost arising out of any unauthorized or fraudulent telephone
instructions which we reasonably believe to be genuine, unless such loss,
expense or cost is the result of our mistake or negligence. We employ procedures
which provide safeguards against the execution of unauthorized transactions, and
which are reasonably designed to confirm that instructions received by telephone
are genuine. These procedures include requiring personal identification, tape
recording calls, and providing written confirmation to the owner. If we do not
employ reasonable procedures to confirm that instructions communicated by
telephone are genuine, we may be liable for any loss due to unauthorized or
fraudulent instructions.

The contract you are purchasing was not designed for professional market
timing organizations or other persons or entities that use programmed or
frequent transfers. For reasons such as that, we reserve the right to change our
telephone transaction policies or procedures at any time. We also reserve the
right to suspend or terminate the privilege altogether.

Dollar-cost averaging program

You may elect, at no cost, to automatically transfer assets from any variable
investment option to one or more other variable investment options on a monthly,
quarterly, semiannual, or annual basis.

The following conditions apply to the dollar-cost averaging program:

.. You may elect the program only if the total value of your contract equals
$15,000 or more.

.. The amount of each transfer must equal at least $250.

.. You may change your variable investment allocation instructions at any time
in writing or, if you have authorized telephone transfers, by telephone.

.. You may discontinue the program at any time.

.. The program automatically terminates when the variable investment option from
which we are taking the transfers has been exhausted.

.. Automatic transfers to or from guarantee periods are not permitted.

.. We reserve the right to suspend or terminate the program at any time.

Strategic rebalancing

This program automatically re-sets the percentage of your account value
allocated to the variable investment options. Over time, the variations in the
investment results for each variable investment option you've selected for this
program will shift the percentage allocations among them. The strategic
rebalancing program will periodically transfer your account value among these
variable investment options to reestablish the preset percentages you have
chosen. (You may, however, change your variable investment allocation
instructions at any time in writing or, if you have authorized telephone
transfers, by telephone.) Strategic rebalancing would usually result in
transferring amounts from a variable investment option with relatively higher
investment performance since the last rebalancing to one with relatively lower
investment performance. However, rebalancing can also result in transferring
amounts from a variable investment option with relatively lower current
investment performance to one with relatively higher current investment
performance.

This program can be elected by sending the appropriate form to our Annuity
Servicing Office. You must specify the frequency for rebalancing (monthly,
quarterly, semi-annually or annually), the preset percentage for each variable
investment option, and a future beginning date.

Once elected, strategic rebalancing will continue until we receive notice of
cancellation of the option or notice of the death of the insured person.

The guarantee periods do not participate in and are not affected by strategic
rebalancing. We reserve the right to modify, terminate or suspend the strategic
rebalancing program at any time.

WHAT FEES AND CHARGES WILL BE DEDUCTED FROM MY CONTRACT?

Asset-based charge

We deduct Separate Account expenses daily, as an asset-based charge shown in
the Fee Tables, to compensate us primarily for our administrative expenses and
for the mortality and expense risks that we assume under the contracts. This
charge does not apply to assets you have in our guarantee periods. We take the
deduction proportionally from each variable investment option you are then
using.

In return for the mortality risk charge, we assume the risk that annuitants as
a class will live longer than expected, requiring us to pay a greater number of
annuity payments. In return for the expense risk charge, we assume the risk that
our expenses relating to the contracts may be higher than we expected when we
set the level of the contracts' other fees and charges, or that our revenues
from such other sources will be less than expected.

Annual contract fee

We deduct the annual contract fee shown in the Fee Tables at the beginning of
each contract year after the first contract year. We also deduct it if you
surrender your contract, unless your total value is $50,000 or more at the time
of surrender. We take the deduction proportionally from each variable investment
option and each guarantee period you are then using. We reserve the right to
increase the annual contract fee to up to $50.

Premium taxes

We make deductions for any applicable premium or similar taxes based on the
amount of a premium payment. Currently, certain local jurisdictions assess a tax
of up to 5% of each premium payment.

In most cases, we deduct a charge in the amount of the tax from the total
value of the contract only at the time of annuitization, death, surrender, or
withdrawal. We reserve the right, however, to deduct the charge from each
premium payment at the time it is made. We compute the amount of the charge by
multiplying the applicable premium tax percentage times the amount you are
withdrawing, surrendering, annuitizing or applying to a death benefit.

Other charges

We deduct the optional benefit rider charges shown in the Fee Tables
proportionally from each of your investment options, including the guaranteed
periods, based on your value in each.

HOW CAN I WITHDRAW MONEY FROM MY CONTRACT?

Surrenders and partial withdrawals

Prior to your contract's date of maturity, if the annuitant is living, you
may:

.. surrender your contract for a cash payment of its "surrender value," or

.. make a partial withdrawal of the surrender value.

The surrender value of a contract is the total value of a contract, after any
market value adjustment, minus the annual contract fee, any applicable premium
tax, and any applicable rider charges. We will determine the amount surrendered
or withdrawn as of the date we receive your request in proper form at the John
Hancock Annuity Servicing Office.

Certain surrenders and withdrawals may result in taxable income to you or
other tax consequences as described under "Tax information," beginning on page
33. Among other things, if you make a full surrender or partial withdrawal from
your contract before you reach age 59 1/2, an additional federal penalty of 10%
generally applies to any taxable portion of the withdrawal.

We will deduct any partial withdrawal proportionally from each of your
investment options based on the value in each, unless you direct otherwise.

Without our prior approval, you may not make a partial withdrawal:

.. for an amount less than $100, or

.. if the remaining total value of your contract would be less than $1,000.

We reserve the right to terminate your contract if the value of your contract
becomes zero.

You generally may not make any surrenders or partial withdrawals once we begin
making payments under an annuity option.

Systematic withdrawal plan

Our optional systematic withdrawal plan enables you to preauthorize periodic
withdrawals. If you elect this plan, we will withdraw a percentage or dollar
amount from your contract on a monthly, quarterly, semiannual or annual basis,
based upon your instructions. Unless otherwise directed, we will deduct the
requested amount from each applicable investment option in the ratio that the
value of each bears to the total value of your contract. Each systematic
withdrawal is subject to any market value adjustment that would apply to an
otherwise comparable non-systematic withdrawal. See "How will the value of my
investment in the contract change over time?" beginning on page 12. The same tax
consequences also generally will apply.

The following conditions apply to systematic withdrawal plans:

.. You may elect the plan only if the total value of your contract equals
$25,000 or more.

.. The amount of each systematic withdrawal must equal at least $100.

.. If the amount of each withdrawal drops below $100 or the total value of your
contract becomes less that $5,000, we will suspend the plan and notify you.

.. You may cancel the plan at any time.

.. We reserve the right to modify the terms or conditions of the plan at any
time without prior notice.

WHAT HAPPENS IF THE OWNER OR THE ANNUITANT DIES BEFORE MY CONTRACT'S DATE OF
MATURITY?

We will pay a death benefit to the contract's beneficiary, depending on the
form of ownership and whether there is one annuitant or joint annuitants:

.. If your contract is owned by a single natural person and has a single
annuitant, the death benefit is payable on the earlier of the owner's death
and the annuitant's death.

.. If your contract is owned by a single natural person and has joint
annuitants, the death benefit is payable on the earliest of the owner's death
(whether or not the owner is also an annuitant) and the last annuitant's
death.

.. If your contract is owned by joint owners and has a single annuitant, the
death benefit is payable on the earliest of the first owner's death (whether
or not the owner is also an annuitant) and the annuitant's death.

.. If your contract is owned by joint owners and has joint annuitants, the death
benefit is payable on the earliest of the first owner's death (whether or not
the owner is also an annuitant) and the last annuitant's death.

We calculate the death benefit value as of the day we receive, in proper order
at the John Hancock Annuity Servicing Office:

.. proof of death before the contract's date of maturity, and

.. any required instructions as to method of settlement.

We will generally pay the death benefit in a single sum to the beneficiary you
chose, unless

.. the death benefit is payable because of the owner's death, the designated
beneficiary is the owner's spouse, and he or she elects to continue the
contract in force (we explain contract continuation by a spouse in the section
entitled "Distributions following death of owner," on page 32); or

.. an optional method of settlement is in effect. If you have not elected an
optional method of settlement, the beneficiary may do so. However, if the
death benefit is less than $5,000, we will pay it in a lump sum, regardless of
any election. You can find more information about optional methods of
settlement under "Annuity options" on page 30.

Standard death benefit

We will pay a "standard" death benefit, unless you have chosen one of our
optional death benefit riders. (We describe these riders on the next page. If
you choose one of these riders, we calculate the death benefit under the terms
of the rider.) The standard death benefit we pay is the greater of:

.. the total value of your contract, adjusted by any then-applicable market
value adjustment, on the date we receive notice of death in proper order, or

.. the total amount of premium payments made, less any partial withdrawals.

Optional death benefit riders

You may elect a death benefit that differs from the standard death benefit by
purchasing an optional death benefit rider:

.. only if the rider is available in your state;

.. only when you apply for the contract;

.. if you elect the Enhanced Death Benefit rider, only if each owner and each
annuitant is under age 80 at the time you apply for the contract; and

.. if your elect the Earnings Enhancement Death Benefit rider, only if each
owner and each annuitant is under age 75 at the time you apply for the
contract.

We may waive either or both of the last two restrictions for contracts
purchased prior to the date a rider was available in your state.

As long as an optional death benefit rider is in effect, you will pay the
monthly charge shown in the Fee Tables for that benefit. The rider and its
related charges terminates on:

.. the contract's date of maturity, or

.. upon your surrendering the contract, or

.. a change of ownership, except where a spousal beneficiary continues the rider
after an owner's death (we explain contract continuation by a spouse in
"Distributions following death of owner" on page 32.

In addition, you may terminate the Enhanced Death Benefit rider at any time by
providing written notification to us at the John Hancock Annuity Servicing
Office shown on page 2. If you purchase an Earnings Enhancement Death Benefit
rider, however, you CANNOT request us to terminate the rider and its charges.

ENHANCED DEATH BENEFIT rider - under this rider, we will pay the greatest of:

Under this rider, we will pay the greatest of:

(1) the standard death benefit,

(2) the amount of each premium you have paid, accumulated at 5% effective
annual interest during the rider's measuring period (less any partial
withdrawals you have taken and not including any interest on such amounts
after they are withdrawn); or

(3) the highest total value of your contract (adjusted by any market value
adjustment) as of any anniversary of your contract during the rider's
measuring period, plus any premium payments you have made since that
anniversary, minus any withdrawals you have taken since that anniversary.

The rider's "measuring period" includes only those contract anniversaries that
occur (1) before we receive proof of death and (2) before the measuring life
attains age 81. The rider's "measuring life" is:

.. the owner, if there is only one owner under your contract and the death
benefit is payable because the owner dies before the Maturity Date,

.. the oldest owner, if there are joint owners under your contract and the death
benefit is payable because either owner dies before the Maturity Date,

.. the annuitant, if there is only one annuitant under your contract and the
death benefit is payable because the annuitant dies before the Maturity Date,

.. the youngest annuitant, if there are joint annuitants under your contract and
the death benefit is payable because the surviving annuitant dies during the
owner(s) lifetime(s) but before the Maturity Date.

If an owner is also an annuitant, we will generally consider that person to be
an "owner" instead of an "annuitant" for purposes of determining the rider's
measuring life.

You may elect to enhance the standard death benefit by purchasing an enhanced
death benefit rider:

.. only if this rider is available in your state; and

.. only when you apply for the contract; and

.. only if each owner and each annuitant is under age 80 at the time you apply
for the contract. (We may waive either or both of the last two restrictions
for contracts purchased prior to the October 15, 2001 or prior to the date
this rider was available in your state.)

For a more complete description of the terms and conditions of this benefit,
you should refer directly to the rider. We will provide you with a copy on
request.

You should carefully review the tax considerations for optional benefit riders
on page 33 before selecting this optional benefit rider

EARNINGS ENHANCEMENT DEATH BENEFIT rider (not available for contracts issued to
tax-qualified plans) - under this rider, the death benefit may be increased by
an earnings enhancement amount that will vary based on the age of the owners and
annuitants when you purchase the rider. In certain marketing materials, this
rider may be referred to as the "Beneficiary Tax Relief" rider because any
amounts paid under this rider can be used to cover taxes that may be due on
death benefit proceeds under your contract. Amounts paid under this rider,
however, may also be subject to tax and may be greater than or less than the
amount of taxes due on the death benefits.

The earnings enhancement amount is determined as follows:

.. if all of the owners and the annuitant are under age 70 on the date your
rider is issued, the earnings enhancement amount will be 40% of the difference
between the Standard Death Benefit (or Enhanced Death Benefit, if that rider
is in effect) and your "Net Premiums," up to a maximum benefit amount of 80%
of your "Adjusted Net Premiums" prior to the date of the decedent's death;

.. if any of the owners or the annuitant is age 70 or older on the date your
rider is issued, the earnings enhancement amount will be 25% of the difference
between the Standard Death Benefit (or Enhanced Death Benefit, if that rider
is in effect) and your "Net Premiums," up to a maximum benefit amount of 50%
of your "Adjusted Net Premiums" prior to the date of the decedent's death; but

.. if there are joint annuitants under your contract, we will not count the age
of the older annuitant for either of these purposes unless the older annuitant
is also an owner.

"Net Premiums," for purposes of this rider, means premiums you paid for the
contract, less any withdrawals in excess of earnings from your contract
(including any surrender charges imposed on these withdrawals). For this
purpose, we consider withdrawals to be taken first from earnings on your
contract before they are taken from your purchase payments. "Adjusted Net
Premiums" means Net Premiums minus any premiums you paid in the 12 month period
prior to the decedent's death (excluding the initial premium).

For a more complete description of the terms and conditions of this benefit,
you should refer directly to the rider. We will provide you with a copy on
request.

YOU SHOULD CAREFULLY REVIEW THE TAX CONSIDERATIONS FOR OPTIONAL BENEFIT RIDERS
ON PAGE 33 BEFORE SELECTING ANY OF THESE OPTIONAL DEATH BENEFIT RIDERS. THE
DEATH BENEFITS UNDER THESE RIDERS WILL DECREASE IF YOU MAKE PARTIAL WITHDRAWALS
UNDER YOUR CONTRACT. THE ENHANCED EARNINGS DEATH BENEFIT RIDER MAY NOT BE
APPROPRIATE FOR YOU IF YOU EXPECT TO WITHDRAW EARNINGS.

WHAT OTHER BENEFITS CAN I PURCHASE UNDER A CONTRACT?

In addition to the enhanced death benefit rider discussed above, we currently
make available two other optional benefits if your state permits and you are
under age 75 when you apply for a contract. These optional benefits are provided
under riders that contain many terms and conditions not set forth below.
Therefore, you should refer directly to each rider for more complete
information. We will provide you with a copy on request. we may make other
riders available in the future.

ACCUMULATED VALUE ENHANCEMENT rider - under this rider, we will make a
contribution to the total value of the contract on a monthly basis if the
covered person (who must be an owner and the annuitant):

.. is unable to perform at least 2 activities of daily living without human
assistance or has a cognitive impairment, AND

.. is receiving certain qualified services described in the rider.

The amount of the contribution (called the "Monthly Benefit") is shown in the
specifications page of the contract. However, the rider contains an inflation
protection feature that will increase the Monthly Benefit by 5% each year after
the 7th contract year. The specifications page of the contract also contains a
limit on how much the total value of the contract can be increased by this rider
(the "benefit limit"). The rider must be in effect for 7 years before any
increase will occur.

You may elect this rider only when you apply for the contract. Under our
current administrative rules, the Monthly Benefit (without regard to the
inflation protection feature) is equivalent to 1% of your initial premium, up to
a maximum premium of $300,000. We may reduce this $300,000 limit further,
however, if you own additional annuity contracts issued by JHVLICO or its
affiliates that provide a similar benefit. The $300,000 limit applies only to
the calculation of the Monthly Benefit under the accumulated value enhancement
rider. (See "Limits on Premium Payments" on page 11 for a general description of
other premium limits under the contract).

There is a monthly charge for this rider, as shown in the Fee Tables. The
rider will terminate if the contract terminates, if the covered person dies, if
the benefit limit is reached, if the owner is the covered person and the
ownership of the contract changes, or if, before annuity payments start, the
total value of the contract falls below an amount equal to 25% of your initial
premium payment. You may cancel the rider by written notice at any time. The
rider charge will terminate when the rider terminates.

If you choose to continue the rider after the contract's date of maturity,
charges for the rider will be deducted from annuity payments and any Monthly
Benefit for which the covered person qualifies will be added to the next annuity
payment.

You should carefully review the tax considerations for optional benefit
riders on page 35 before selecting this optional benefit rider. In certain
marketing materials, this rider may be referred to as "CARESolutions Plus."

GUARANTEED RETIREMENT INCOME BENEFIT rider - under this rider, we will guarantee
the amount of annuity payments you receive, if the following conditions are
satisfied:

.. The date of maturity must be within the 30 day period following a contract
anniversary.

.. If the annuitant was age 45 or older on the date of issue, the contract must
have been in effect for at least 10 contract years on the date of maturity and
the date of maturity must be on or after the annuitant's 60th birthday and on
or before the annuitant's 90th birthday.

.. If the annuitant was less than age 45 on the date of issue, the contract must
have been in effect for at least 15 contract years on the date of maturity and
the date of maturity must be on or before the annuitant's 90th birthday.

You cannot elect this rider at any time after your contract is issued. If you
elect this rider you need not choose to receive the guaranteed income benefit
that it provides. Rather, unless and until such time as you exercise your option
to receive a guaranteed income benefit under this rider, you will continue to
have the option of exercising any other right or option that you would have
under the contract (including withdrawal and annuity payment options) if the
rider had not been added to it.

If you do decide to add this rider to your contract, and if you do ultimately
decide to take advantage of the guaranteed income it provides, we will
automatically provide that guaranteed income in the form of fixed payments under
our "Option A: life annuity with payments for guaranteed period" described below
under "Annuity options." The guaranteed period will automatically be a number of
years that the rider specifies, based on the annuitant's age at the annuity date
and whether your contract is purchased in connection with a tax-qualified plan.
(These specified periods range from 5 to 10 years.) You will have no discretion
to vary this form of payment, if you choose the guaranteed income benefit under
this rider.

If you exercise your rights under this rider, we guarantee that the amount we
apply to this annuity payment option will be the same amount as if your premium
payments had earned a return prescribed by the rider, rather than the return
they earned in the subaccounts you actually chose. Under this rider, we would
apply that guaranteed amount to the fixed annuity payment option specified in
the rider in the same manner and on the same terms as if you had, in the absence
of this rider, elected to apply total contract value in the same amount to that
same annuity payment option.

There is a monthly charge for this rider, as shown in the Fee Tables. The
rider (and the related charges) automatically terminate if your contract is
surrendered or the annuitant dies. After you've held your contract for 10 years,
you can terminate the rider by written request.

CAN I RETURN MY CONTRACT?

In most cases, you have the right to cancel your contract within 10 days (or
longer in some states ) after you receive it. To cancel your contract, simply
deliver or mail it to:

.. JHVLICO at the address shown on page 2, or

.. the JHVLICO representative who delivered the contract to you.

In most states, you will receive a refund equal to the total value of your
contract on the date of cancellation, adjusted by any then-applicable market
value adjustments and increased by any charges for premium taxes deducted by us
to that date. In some states, or if your contract was issued as an "IRA," you
will receive a refund of any premiums you've paid. The date of cancellation will
be the date we receive the contract.

WHAT ADDITIONAL GUARANTEE APPLIES TO THE GUARANTEE PERIODS UNDER MY CONTRACT?

John Hancock Financial Services, Inc. ("JHFS") guarantees JHVLICO's
obligations with respect to any guarantee periods you have elected under the
contract on the date of this prospectus. JHFS' guarantee will also apply to any
new guarantee periods under your contract, unless and until we notify you
otherwise. (If we give you such notice, however, the JHFS guarantee would remain
in effect for all guarantee periods then had already started, and would be
inapplicable only to guarantee periods starting after the date of such notice.)
The JHFS guarantee does not relieve JHVLICO of any obligations under your
contract -- it is in addition to all of the rights and benefits that the
contract provides. There is no charge or cost to you for the JHFS guarantee, nor
are there any other disadvantages to you of having this additional guarantee.

Currently, JHVLICO's financial stability rating from A.M. Best Company, Inc.
is A++, the highest, based on the strength its direct parent, John Hancock Life
Insurance Company and the capital guarantee that JHFS (JHVLICO's ultimate
parent) has provided to JHVLICO. Standard & Poor's Corporation and Fitch IBCA
have assigned insurance claims-paying ability ratings to JHVLICO of AA, which
place JHVLICO in the third highest category by these rating agencies. Moody's
Investors Service, Inc. has assigned JHVLICO a financial strength rating of Aa3,
which is its fourth highest rating.

The additional guarantee saves JHVLICO the considerable expense of being a
company required to periodically file Form 10-K and Form 10-Q reports with the
Securities and Exchange Commission ("SEC"). The company that is giving the
guarantee (JHFS) is the ultimate parent of all of the John Hancock group of
companies (including JHVLICO). JHFS is a publicly-traded company and, as such,
it also files Forms 10-K and 10-Q with the SEC. Under the SEC's rules, the JHFS
guarantee will eliminate the need for JHVLICO also to file such reports. In
addition, as discussed above, the additional guarantee has the advantage of
making any amounts you have allocated to a guarantee period even more secure,
without cost or other disadvantage to you.

WHAT ARE THE TERMS OF THE ADDITIONAL GUARANTEE?

JHFS guarantees your full interest in any guarantee period. This means that,
if JHVLICO fails to honor any valid request to surrender, transfer, or withdraw
any amount from a guarantee period, or fails to allocate amounts from a
guarantee period to an annuity option when it is obligated to do so, JHFS
guarantees the full amount that you would have received, or value that you would
have been credited with, had JHVLICO fully met its obligations under your
contract. If a benefit becomes payable under the contract upon the death of an
owner or annuitant, JHFS guarantees the lesser of (a) the amount of your
contract value in any guarantee period on the date of death, increased by any
upward market value adjustment (but not decreased by any negative market value
adjustment) or (b) the total amount that the contract obligates JHVLICO to pay
by reason of such death. If JHVLICO fails to make payment when due of any amount
that is guaranteed by JHFS, you could directly request JHFS to satisfy JHVLICO's
obligation, and JHFS must do so. You would not have to make any other demands on
JHVLICO as a precondition to making a claim against JHFS under the guarantee.

ADDITIONAL INFORMATION

This section of the propectus provides additional information that is not
contained in the Basic Information section on pages 10 through 22.

CONTENTS OF THIS SECTION STARTING ON PAGE

Description of JHVLICO .................................... 24

How to find further information about JHVLICO and JHFS .... 24

Who should purchase a contract? ........................... 25

How we support the variable investment options ............ 25

How we support the guarantee periods ...................... 26

How the guarantee periods work ............................ 26

The accumulation period ................................... 28

The annuity period ........................................ 28

Variable investment option valuation procedures ........... 31

Distributions following death of owner .................... 32

Miscellaneous provisions .................................. 32

Tax information ........................................... 33

Performance information ................................... 40

Reports ................................................... 41

Voting privileges ......................................... 41

Certain changes ........................................... 41

Distribution of contracts ................................. 42

Experts ................................................... 42

Registration statement .................................... 42

Condensed Financial Information ........................... 44

Appendix A - Details About Our Guarantee Periods .......... 48

Appendix B - Examples of Earnings Enhancement Death
Benefit Calculations ...................................... 50

DESCRIPTION OF JHVLICO

We are JHVLICO, a stock life insurance company chartered in 1979 under
Massachusetts law, with its home office at 197 Clarendon Street, Boston,
Massachusetts 02117. We are authorized to transact a life insurance and annuity
business in all states other than New York and in the District of Columbia.

We are regulated and supervised by the Massachusetts Commissioner of
Insurance, who periodically examines our affairs. We also are subject to the
applicable insurance laws and regulations of all jurisdictions in which we are
authorized to do business. We are required to submit annual statements of our
operations, including financial statements, to the insurance departments of the
various jurisdictions in which we do business for purposes of determining
solvency and compliance with local insurance laws and regulations. The
regulation to which we are subject, however, does not provide a guarantee as to
such matters.

We are a wholly-owned subsidiary of John Hancock Life Insurance Company ("John
Hancock"), a Massachusetts stock life insurance company. On February 1, 2000,
John Hancock Mutual Life Insurance Company (which was chartered in Massachusetts
in 1862) converted to a stock company by "demutualizing" and changed its name to
John Hancock Life Insurance Company. As part of the demutualization process,
John Hancock became a subsidiary of John Hancock Financial Services, Inc., a
newly formed publicly-traded corporation. John Hancock's home office is at John
Hancock Place, Boston, Massachusetts 02117. As of December 31, 2002, John
Hancock's assets were approximately $88 billion and it had invested
approximately $575 million in JHVLICO in connection with JHVLICO's organization
and operation. It is anticipated that John Hancock will from time to time make
additional capital contributions to JHVLICO to enable us to meet our reserve
requirements and expenses in connection with our business. John Hancock is
committed to make additional capital contributions if necessary to ensure that
we maintain a positive net worth.

HOW TO FIND ADDITIONAL INFORMATION ABOUT JHVLICO AND JHFS

JHFS files numerous documents and reports with the SEC, under a law commonly
known as the "Exchange Act." This includes annual reports on Form 10-K,
quarterly reports on Form 10-Q, other reports on Form 8-K, and proxy statements.
JHVLICO and JHFS also file registration statements and other documents with the
SEC, in addition to any that they file under the Exchange Act.

You may read and copy all of the above documents, reports and registration
statements at the SEC's public reference room, 450 Fifth Street, N.W.,
Washington, D.C. 20549. You may obtain information about how the public
reference room works by calling 1-800-SEC-0330. Most of JHVLICO's and JHFS'
filings with the SEC are also available to the public at the SEC's "web" site:
http://www.sec.gov. Some of the reports and other documents that we file under
the Exchange Act are deemed to be part of this prospectus, even though they are
not physically included in this prospectus.

These are the following reports and documents, which we "incorporate by
reference" into this prospectus:

.. Form 10-K of JHFS for the year ended December 31, 2002;

.. Form 10-Q of JHFS for the three month period ended March 31, 2003;

.. Form 8-K of JHFS filed on January 9, 2003; and

.. All other documents or reports that JHVLICO or JHFS subsequently files with
the SEC pursuant to Sections 13(a), 13(c), 14, or 15(d) of the Exchange Act
(Prior to 2003, JHVLICO also filed reports on Forms 10-K and 10-Q. However, as
discussed above under "What are the reasons for the additional guarantee?",
JHVLICO no longer intends to file such reports.

We will provide to you, free of charge, a copy of any or all of the above
documents or reports that are incorporated into this prospectus. To request such
copies, please call or write the John Hancock Annuity Servicing Office using the
phone number or address shown on page 2 of this prospectus.

WHO SHOULD PURCHASE A CONTRACT?

We designed these contracts for individuals doing their own retirement
planning, including purchases under plans and trusts that do not qualify for
special tax treatment under the Internal Revenue Code of 1986 (the "Code"). We
also offer the contracts for purchase under:

.. traditional individual retirement annuity plans ("Traditional IRAs")
satisfying the requirements of Section 408 of the Code;

.. non-deductible IRA plans ("Roth IRAs") satisfying the requirements of Section
408A of the Code;

.. SIMPLE IRA plans adopted under Section 408(p) of the Code;

.. Simplified Employee Pension plans ("SEPs") adopted under Section 408(k) of
the Code; and

.. annuity purchase plans adopted under Section 403(b) of the Code by public
school systems and certain other tax-exempt organizations.

We do not currently offer the contracts to every type of tax-qualified plan,
and we may not offer the contracts for all types of tax-qualified plans in the
future. In certain circumstances, we may also make the contracts available for
purchase under deferred compensation plans maintained by a state or political
subdivision or tax exempt organization under Section 457 of the Code or by
pension or profit-sharing plans qualified under section 401(a) of the Code. We
provide general federal income tax information for contracts purchased in
connection with tax qualified retirement plans beginning on page 35.

When a contract forms part of a tax-qualified plan it becomes subject to
special tax law requirements, as well as the terms of the plan documents
themselves, if any. Additional requirements may apply to plans that cover a
"self-employed individual" or an "owner-employee". Also, in some cases, certain
requirements under "ERISA" (the Employee Retirement Income Security Act of 1974)
may apply. Requirements from any of these sources may, in effect, take
precedence over (and in that sense modify) the rights and privileges that an
owner otherwise would have under a contract. Some such requirements may also
apply to certain retirement plans that are not tax-qualified.

We may include certain requirements from the above sources in endorsements or
riders to the affected contracts. In other cases, we do not. In no event,
however, do we undertake to assure a contract's compliance with all plan, tax
law, and ERISA requirements applicable to a tax-qualified or non tax-qualified
retirement plan. Therefore, if you use or plan to use a contract in connection
with such a plan, you must consult with competent legal and tax advisers to
ensure that you know of (and comply with) all such requirements that apply in
your circumstances.

To accommodate "employer-related" pension and profit-sharing plans, we provide
"unisex" purchase rates. That means the annuity purchase rates are the same for
males and females. Any questions you have as to whether you are participating in
an "employer-related" pension or profit-sharing plan should be directed to your
employer. Any question you or your employer have about unisex rates may be
directed to the John Hancock Annuity Servicing Office.

HOW WE SUPPORT THE VARIABLE INVESTMENT OPTIONS

We hold the fund shares that support our variable investment options in John
Hancock Variable Annuity Account JF (the "Account"), a separate account
established by JHVLICO under Massachusetts law. The Account is registered as a
unit investment trust under the Investment Company Act of 1940 ("1940 Act").

The Account's assets, including the Series Funds' shares, belong to JHVLICO.
Each contract provides that amounts we hold in the Account pursuant to the
contracts cannot be reached by any other persons who may have claims against us.

All of JHVLICO's general assets also support JHVLICO's obligations under the
contracts, as well as all of its other obligations and liabilities. These
general assets consist of all JHVLICO's assets that are not held in the Account
(or in another separate account) under variable annuity or variable life
insurance contracts that give their owners a preferred claim on those assets.

HOW WE SUPPORT THE GUARANTEE PERIODS

All of JHVLICO's general assets (discussed above) support its obligations
under the guarantee periods (as well as all of its other obligations and
liabilities). To hold the assets that support primarily the guarantee periods,
we have established a "non-unitized" separate account. With a non-unitized
separate account, you have no interest in or preferential claim on any of the
assets held in the account. The investments we purchase with amounts you
allocated to the guarantee periods belong to us; any favorable investment
performance on the assets allocated to the guarantee periods belongs to us.
Instead, you earn interest at the guaranteed interest rate you selected,
provided that you don't surrender, transfer, or withdraw your assets prior to
the end of your selected guarantee period.

HOW THE GUARANTEE PERIODS WORK

Amounts you allocate to the guarantee periods earn interest at a guaranteed
rate commencing with the date of allocation. At the expiration of the guarantee
period, we will automatically transfer its total value to the Money Market
option under your contract, unless you elect to:

.. withdraw all or a portion of any such amount from the contract,

.. allocate all or a portion of such amount to a new guarantee period or periods
of the same or different duration as the expiring guarantee period, or

.. allocate all or a portion of such amount to one or more of the variable
investment options.

You must notify us of any such election, by mailing a request to us at the
John Hancock Annuity Servicing Office at least 30 days prior to the end of the
expiring guarantee period. We will notify you of the end of the guarantee period
at least 30 days prior to its expiration. The first day of the new guarantee
period or other reallocation will begin the day after the end of the expiring
guarantee period.

We currently make available guarantee periods with durations of five years.
For contracts issued before September 30, 2002, however, we may permit you to
select different durations.

If you select any guarantee period that extends beyond your contract's date of
maturity, your maturity date will automatically be changed to the annuitant's
95th birthday (or a later date, if we approve). We reserve the right to add or
delete guarantee periods for new allocations to or from those that are available
at any time.

Guaranteed interest rates

Each guarantee period has its own guaranteed rate. We may, at our discretion,
change the guaranteed rate for future guarantee periods. These changes will not
affect the guaranteed rates being paid on guarantee periods that have already
commenced. Each time you allocate or transfer money to a guarantee period, a new
guarantee period, with a new interest rate, begins to run with respect to that
amount. The amount allocated or transferred earns a guaranteed rate that will
continue unchanged until the end of that period.

- --------------------------------------------------------------------------------
We make the final determination of guaranteed rates and guarantee periods to be
declared. We cannot predict or assure the level of any future guaranteed rates
or the availability of any future guaranteed periods.
- --------------------------------------------------------------------------------

You may obtain information concerning the guaranteed rates applicable to the
various guarantee periods, and the durations of the guarantee periods offered at
any time, by calling the John Hancock Annuity Servicing Office at the telephone
number shown on page 2.

Calculation of market value adjustment ("MVA")

If you withdraw, surrender, transfer, or otherwise remove money from a
guarantee period prior to its expiration date, we will apply a market value
adjustment. A market value adjustment also generally applies to:

.. death benefits pursuant to your contract,

.. amounts you apply to an annuity option, and

.. amounts paid in a single sum in lieu of an annuity.

The market value adjustment increases or decreases your remaining value in the
guarantee period. If the value in that guarantee period is insufficient to pay
any negative MVA, we will deduct any excess from the value in your other
investment options pro-rata based on the value in each. If there is insufficient
value in your other investment options, we will in no event pay out more than
the surrender value of the contract.

Here is how the MVA works:

- --------------------------------------------------------------------------------
We compare

. the guaranteed rate of the guarantee period from which the assets are
being taken WITH

. the guaranteed rate we are currently offering for guarantee periods of
the same duration as remains on the guarantee period from which the
assets are being taken.

If the first rate exceeds the second by more than 1/2%, the market value
adjustment produces an increase in your contract's value.

If the first rate does not exceed the second by at least 1/2%, the market
value adjustment produces a decrease in your contract's value.
- --------------------------------------------------------------------------------

For this purpose, we consider that the amount withdrawn from the guarantee
period includes the amount of any negative MVA and is reduced by the amount of
any positive MVA.

The mathematical formula and sample calculations for the market value
adjustment appear in Appendix A.

THE ACCUMULATION PERIOD

Your value in our variable investment options

Each premium payment or transfer that you allocate to a variable investment
option purchases "accumulation units" of that variable investment option.
Similarly, each withdrawal or transfer that you take from a variable investment
option (as well as certain charges that may be allocated to that option) result
in a cancellation of such accumulation units.

Valuation of accumulation units

To determine the number of accumulation units that a specific transaction will
purchase or cancel, we use the following formula:

-----------------------------------------------------
dollar amount of transaction
DIVIDED BY
value of one accumulation unit for the applicable
variable investment option at the time of such
transaction
-----------------------------------------------------

The value of each accumulation unit will change daily depending upon the
investment performance of the fund that corresponds to that variable investment
option and certain charges we deduct from such investment option. (See below
under "Variable investment option valuation procedures.")

Therefore, at any time prior to the date of maturity, the total value of your
contract in a variable investment option can be computed according to the
following formula:

-----------------------------------------------------
number of accumulation units in the variable
investment options
TIMES
value of one accumulation unit for the applicable
variable investment option at that time
-----------------------------------------------------

Your value in the guarantee periods

On any date, the total value of your contract in a guarantee period equals:

.. the amount of premium payments or transferred amounts allocated to the
guarantee period, MINUS

.. the amount of any withdrawals or transfers paid out of the guarantee period,
MINUS

.. the amount of any negative market value adjustments resulting from such
withdrawals or transfers, PLUS

.. the amount of any positive market value adjustments resulting from such
withdrawals and transfers, MINUS

.. the amount of any charges and fees deducted from that guarantee period, PLUS

.. interest compounded daily on any amounts in the guarantee period from time to
time at the effective annual rate of interest we have declared for that
guarantee period.

THE ANNUITY PERIOD

Annuity payments are made to the annuitant, if still living. If more than one
annuitant is living at the date of maturity, the payments are made to the
younger of them.

Date of maturity

Your contract specifies the date of maturity, when payments from one of our
annuity options are scheduled to begin. You initially choose a date of maturity
when you complete your application for a contract. Unless we otherwise permit,
the date of maturity must be:

.. at least 6 months after the date the first premium payment is applied to your
contract, and

.. no later than the maximum age specified in your contract (normally age 95).

Subject always to these requirements, you may subsequently change the date of
maturity. The John Hancock Annuity Servicing Office must receive your new
selection at least 31 days prior to the new date of maturity, however. Also, if
you are selecting or changing your date of maturity for a contract issued under
a tax qualified plan, special limits apply. (See "Contracts purchased for a
tax-qualified plan," beginning on page 36.)

Choosing fixed or variable annuity payments

During the annuity period, the total value of your contract must be allocated
to no more than four investment options. During the annuity period, we do not
offer the guarantee periods. Instead, we offer annuity payments on a fixed basis
as one investment option, and annuity payments on a variable basis for EACH
variable investment option.

We will generally apply (1) amounts allocated to the guarantee periods as of
the date of maturity to provide annuity payments on a fixed basis and (2)
amounts allocated to variable investment options to provide annuity payments on
a variable basis. If you are using more than four investment options on the date
of maturity, we will divide your contract's value among the four investment
options with the largest values (considering all guarantee periods as a single
option), pro-rata based on the amount of the total value of your contract that
you have in each.

We will make a market value adjustment to any remaining guarantee period
amounts on the date of maturity, before we apply such amounts to an annuity
payment option. We will also deduct any premium tax charge.

Once annuity payments commence, you may not make transfers from fixed to
variable or from variable to fixed.

Selecting an annuity option

Each contract provides, at the time of its issuance, for annuity payments to
commence on the date of maturity pursuant to Option A: "life annuity with 10
years guaranteed" (discussed under "Annuity options" on page 30).

Prior to the date of maturity, you may select a different annuity option.
However, if the total value of your contract on the date of maturity is less
than $5,000, Option A: "life annuity with 10 years guaranteed" will apply,
regardless of any other election that you have made. You may not change the form
of annuity option once payments commence.

If the initial monthly payment under an annuity option would be less than $50,
we may make a single sum payment equal to the total surrender value of your
contract on the date the initial payment would be payable. Such single payment
would replace all other benefits.

.. Subject to that $50 minimum limitation, your beneficiary may elect an annuity
option if:

.. you have not made an election prior to the annuitant's death;

.. the beneficiary is entitled to payment of a death benefit of at least $5,000
in a single sum; and

.. the beneficiary notifies us of the election prior to the date the proceeds
become payable.

Variable monthly annuity payments

We determine the amount of the first variable monthly payment under any
variable investment option by using the applicable annuity purchase rate for the
annuity option under which the payment will be made. The contract sets forth
these annuity purchase rates. In most cases they vary by the age and gender of
the annuitant or other payee.

The amount of each subsequent variable annuity payment under that variable
investment option depends upon the investment performance of that variable
investment option.

Here's how it works:

.. we calculate the actual net investment return of the variable investment
option (after deducting all charges) during the period between the dates for
determining the current and immediately previous monthly payments.

.. if that actual net investment return exceeds the "assumed investment rate"
(explained below), the current monthly payment will be larger than the
previous one.

.. if the actual net investment return is less than the assumed investment rate,
the current monthly payment will be smaller than the previous one.

Assumed investment rate

The assumed investment rate for any variable portion of your annuity payments
will be 3 1/2 % per year, except as follows.

You may elect an assumed investment rate of 5% or 6%, provided such a rate is
available in your state. If you elect a higher assumed investment rate, your
initial variable annuity payment will also be higher. Eventually, however, the
monthly variable annuity payments may be smaller than if you had elected a lower
assumed investment rate.

Fixed monthly annuity payments

The dollar amount of each fixed monthly annuity payment is specified during
the entire period of annuity payments, according to the provisions of the
annuity option selected. To determine such dollar amount we first, in accordance
with the procedures described above, calculate the amount to be applied to the
fixed annuity option as of the date of maturity. We then divide the difference
by $1,000 and multiply the result by the greater of:

.. the applicable fixed annuity purchase rate shown in the appropriate table in
the contract; or

.. the rate we currently offer at the time of annuitization. (This current rate
may be based on the sex of the annuitant, unless prohibited by law.)

Annuity options

Here are some of the annuity options that are available, subject to the terms
and conditions described above. We reserve the right to make available optional
methods of payment in addition to those annuity options listed here and in your
contract.

OPTION A: LIFE ANNUITY WITH PAYMENTS FOR A GUARANTEED PERIOD - We will make
monthly payments for a guaranteed period of 5, 10, or 20 years, as selected by
you or your beneficiary, and after such period for as long as the payee lives.
If the payee dies prior to the end of such guaranteed period, we will continue
payments for the remainder of the guarantee period to a contingent payee,
subject to the terms of any supplemental agreement issued.

Federal income tax requirements currently applicable to contracts used with
H.R. 10 plans and individual retirement annuities provide that the period of
years guaranteed under Option A cannot be any greater than the joint life
expectancies of the payee and his or her designated beneficiary.

OPTION B: LIFE ANNUITY WITHOUT FURTHER PAYMENT ON DEATH OF PAYEE - We will
make monthly payments to the payee as long as he or she lives. We guarantee no
minimum number of payments.

OPTION C: JOINT AND LAST SURVIVOR - We will provide payments monthly,
quarterly, semiannually, or annually, for the payee's life and the life of the
payee's spouse/joint payee. Upon the death of one payee, we will continue
payments to the surviving payee. All payments stop at the death of the surviving
payee.

OPTION D: JOINT AND 1/2 SURVIVOR; OR JOINT AND 2/3 SURVIVOR - We will provide
payments monthly, quarterly, semiannually, and annually for the payee's life and
the life of the payee's spouse/joint payee. Upon the death of one payee, we will
continue payments (reduced to 1/2 or 2/3 the full payment amount) to the
surviving payee. All payments stop at the death of the surviving payee.

OPTION E: LIFE INCOME WITH CASH REFUND - We will provide payments monthly,
quarterly, semiannually, or annually for the payee's life. Upon the payee's
death, we will provide a contingent payee with a lump-sum payment, if the total
payments to the payee were less than the accumulated value at the time of
annuitization. The lump-sum payment, if any, will be for the balance.

OPTION F: INCOME FOR A FIXED PERIOD - We will provide payments monthly,
quarterly, semiannually, or annually for a pre-determined period of time to a
maximum of 30 years. If the payee dies before the end of the fixed period,
payments will continue to a contingent payee until the end of the period.

OPTION G: INCOME OF A SPECIFIC AMOUNT - We will provide payments for a
specific amount. Payments will stop only when the amount applied and earnings
have been completely paid out. If the payee dies before receiving all the
payments, we will continue payments to a contingent payee until the end of the
contract.

With Options A, B, C, and D, we offer both fixed and/or variable annuity
payments. With Options E, F, and G, we offer only fixed annuity payments.
Payments under Options F and G must continue for 10 years, unless your contract
has been in force for 5 years or more.

If the payee is more than 85 years old on the date of maturity, the following
two options are not available without our consent:

.. Option A: "life annuity with 5 years guaranteed" and

.. Option B: "life annuity without further payment on the death of payee."

VARIABLE INVESTMENT OPTION VALUATION PROCEDURES

We compute the net investment return and accumulation unit values for each
variable investment option as of the end of each business day. A business day is
any date on which the New York Stock Exchange is open for regular trading. Each
business day ends at the close of regular trading for the day on that exchange.
Usually this is 4:00 p.m., Eastern time. On any date other than a business day,
the accumulation unit value or annuity unit value will be the same as the value
at the close of the next following business day.

DISTRIBUTIONS FOLLOWING DEATH OF OWNER

- --------------------------------------------------------------------------------
IF DEATH BENEFITS ARE PAYABLE UPON YOUR DEATH BEFORE ANNUITY PAYMENTS HAVE
BEGUN:
.. if the contract's designated beneficiary is your surviving spouse, your spouse
may elect to continue the contract in force as the owner. In that case:

(1) we will not pay a death benefit, but the total value of your contract
will equal the death benefit that would have been payable under your
contract (including amounts payable under any optional death benefit
riders). Any additional amount that we credit to your contract will be
allocated to the investment options in the same ratio as the investment
allocations held at the time of death and will not be subject to any
future surrender or withdrawal charges; and

(2) your spouse may elect to add or continue any optional death benefit
riders under his or her name, subject to our then current underwriting
standards and the deduction of rider charges at our then current rates.
For purposes of calculating the amount of your spouse's Death Benefit, we
will treat the total value of your contract (including any step-up in
value) as the initial premium and the date the rider is added or
continued as the rider's date of issue.

.. if the beneficiary is not your surviving spouse OR if the beneficiary is your
surviving spouse but chooses not to continue the contract, the "entire
interest" (as discussed below) in the contract on the date of your death must
be:

(1) paid out in full within five years of your death or

(2) applied in full towards the purchase of a life annuity on the beneficiary
with payments commencing within one year of your death.

.. the "entire interest" in the contract on the date of your death equals the
standard death benefit (or any enhanced death benefit) and, if an earnings
enhancement benefit rider is then in force, any earnings enhancement death
benefit amount, that may then be payable.
- -------------------------------------------------------------------------------
IF YOU DIE ON OR AFTER ANNUITY PAYMENTS HAVE BEGUN:
.. any remaining amount that we owe must be paid out at least as rapidly as under
the method of making annuity payments that is then in use.
- -------------------------------------------------------------------------------

The Code imposes very similar distribution requirements on contracts used
to fund tax qualified plans. We provide the required provisions for tax
qualified plans in separate disclosures and endorsements.

Notice of the death of an owner or annuitant should be furnished promptly to
the John Hancock Annuity Servicing Office.

MISCELLANEOUS PROVISIONS

Assignment; change of owner or beneficiary

To qualify for favorable tax treatment, certain contracts can't be sold;
assigned; discounted; or pledged as collateral for a loan, as security for the
performance of an obligation, or for any other purpose, unless the owner is a
trustee under section 401(a) of the Internal Revenue Code.

Subject to these limits, while the annuitant is alive, you may designate
someone else as the owner by written notice to the John Hancock Annuity
Servicing Office. You choose the beneficiary in the application for the
contract. You may change the beneficiary by written notice no later than receipt
of due proof of the death of the annuitant. Changes of owner or beneficiary will
take effect when we receive them, whether or not you or the annuitant is then
alive. However, these changes are subject to:

.. the rights of any assignees of record and

.. certain other conditions referenced in the contract.

An assignment, pledge, or other transfer may be a taxable event. See "Tax
information" below. Therefore, you should consult a competent tax adviser before
taking any such action.

TAX INFORMATION

Our income taxes

We are taxed as a life insurance company under the Internal Revenue Code (the
"Code"). The Account is taxed as part of our operations and is not taxed
separately.

The contracts permit us to deduct a charge for any taxes we incur that are
attributable to the operation or existence of the contracts or the Account.
Currently, we do not anticipate making a charge for such taxes. If the level of
the current taxes increases, however, or is expected to increase in the future,
we reserve the right to make a charge in the future.

Special Considerations for Optional Benefit Riders

If you have elected an optional death benefit rider, it is our understanding
that the charges relating to these riders are not subject to current taxation.
The Internal Revenue Service ("IRS") might take the position, however, that
each charge associated with the rider is deemed a partial withdrawal from the
contract subject to current income tax to the extent of any gains and, if
applicable, the 10% penalty tax for premature distributions from annuities. We
understand that you are not prevented from adding any of our optional death
benefit riders to your contract if it is issued as an IRA. However, the law is
unclear because IRAs generally may not invest in "life insurance contracts."
Therefore, it is possible that a contract may be disqualified as an IRA if it
has an optional death benefit rider added to it. If so, you may be subject to
increased taxes.

At present, the IRS has not provided guidance as to the tax effect of adding
an optional Accumulated value enhancement rider to an annuity contract. The IRS
might take the position that each charge associated with this rider is deemed a
withdrawal from the contract subject to current income tax to the extent of any
gains and, if applicable, the 10% penalty tax for premature withdrawals.

We do not currently report rider charges as partial withdrawals, but we may do
so in the future if we believe that the IRS would require us to report them as
such. You should consult a competent tax adviser before electing any of these
optional benefit riders.

Contracts not purchased to fund a tax qualified plan

Undistributed gains

We believe the contracts will be considered annuity contracts under Section 72
of the Code. This means that, ordinarily, you pay no federal income tax on any
gains in your contract until we actually distribute assets to you.

However, a contract owned other than by a natural person (e.g., corporations,
partnerships, limited liability companies and other such entities) does not
generally qualify as an annuity for tax purposes. Any increase in value
therefore would constitute ordinary taxable income to such an owner in the year
earned.

Annuity payments

When we make payments under a contract in the form of an annuity, each payment
will result in taxable ordinary income to you, to the extent that each such
payment exceeds an allocable portion of your "investment in the contract" (as
defined in the Code). In general, your "investment in the contract" equals the
aggregate amount of premium payments you have made over the life of the
contract, reduced by any amounts previously distributed from the contract that
were not subject to tax.

The Code prescribes the allocable portion of each such annuity payment to be
excluded from income according to one formula if the payments are variable and a
somewhat different formula if the payments are fixed. In each case, speaking
generally, the formula seeks to allocate an appropriate amount of the investment
in the contract to each payment. After the entire "investment in the contract"
has been distributed, any remaining payment is fully taxable.

Surrenders, withdrawals and death benefits

When we make a single sum payment from a contract, you have ordinary taxable
income, to the extent the payment exceeds your "investment in the contract"
(discussed above). Such a single sum payment can occur, for example, if you
surrender your contract before the date of maturity or if no annuity payment
option is selected for a death benefit payment.

When you take a partial withdrawal from a contract before the date of
maturity, including a payment under a systematic withdrawal plan, all or part of
the payment may constitute taxable ordinary income to you. If, on the date of
withdrawal, the total value of your contract exceeds the investment in the
contract, the excess will be considered "gain" and the withdrawal will be
taxable as ordinary income up to the amount of such "gain". Taxable withdrawals
may also be subject to the special penalty tax for premature withdrawals as
explained below. When only the investment in the contract remains, any
subsequent withdrawal made before the date of maturity will be a tax-free return
of investment. If you assign or pledge any part of your contract's value, the
value so pledged or assigned is taxed the same way as if it were a partial
withdrawal.

For purposes of determining the amount of taxable income resulting from a
single sum payment or a partial withdrawal, all annuity contracts issued by John
Hancock or its affiliates to the owner within the same calendar year will be
treated as if they were a single contract.

Under the Code, an annuity must provide for certain required distributions.
For example, if the owner dies on or after the maturity date, and before the
entire annuity value has been paid, the remaining value must be distributed at
least as rapidly as under the method of distribution being used at the date of
the owner's death. We discuss other distribution requirements in the preceding
section entitled "Distribution following death of owner."

Penalty for premature withdrawals

The taxable portion of any withdrawal, single sum payment and certain death
benefit payments may also trigger an additional 10% penalty tax. The penalty tax
does not apply to payments made to you after age 59 1/2, or on account of your
death or disability. Nor will it apply to withdrawals in substantially equal
periodic payments over the life of the payee (or over the joint lives of the
payee and the payee's beneficiary).

Puerto Rico annuity contracts not purchased to fund a tax-qualified plan

Under the Puerto Rico tax laws, distributions from a contract not purchased to
fund a tax qualified plan ("Non-Qualified Contract") before annuitization are
treated as non-taxable return of principal until the principal is fully
recovered. Thereafter, all distributions are fully taxable. Distributions after
annuitization are treated as part taxable income and part non-taxable return of
principal. The amount excluded from gross income after annuitization is equal to
the amount of the distribution in excess of 3% of the total purchase payments
paid, until an amount equal to the total purchase payments paid has been
excluded. Thereafter, the entire distribution from a Non-Qualified Contract is
included in gross income. Puerto Rico does not currently impose an early
withdrawal penalty tax. Generally, Puerto Rico does not require income tax to be
withheld from distributions of income.

Diversification requirements

Each of the funds of the Series Funds intends to qualify as a regulated
investment company under Subchapter M of the Code and meet the investment
diversification tests of Section 817(h) of the Code and the underlying
regulations. Failure to do so could result in current taxation to you on gains
in your contract for the year in which such failure occurred and thereafter.

The Treasury Department or the Internal Revenue Service may, at some future
time, issue a ruling or regulation presenting situations in which it will deem
contract owners to exercise "investor control" over the fund shares that are
attributable to their contracts. The Treasury Department has said informally
that this could limit the number or frequency of transfers among variable
investment options. This could cause you to be taxed as if you were the direct
owner of your allocable portion of fund shares. We reserve the right to amend
the contracts or the choice of investment options to avoid, if possible, current
taxation to the owners.

Contracts purchased for a tax qualified plan

We have no responsibility for determining whether a particular retirement plan
or a particular contribution to the plan satisfies the applicable requirements
of the Code, or whether a particular employee is eligible for inclusion under a
plan. In general, the Code imposes limitations on the amount of annual
compensation that can be contributed into a tax-qualified plan, and contains
rules to limit the amount you can contribute to all of your tax-qualified plans.
Trustees and administrators of tax qualified plans may, however, generally
invest and reinvest existing plan assets without regard to such Code imposed
limitations on contributions. Certain distributions from tax qualified plans may
be transferred directly to another plan, unless funds are added from other
sources, without regard to such limitations.

The Code generally requires tax-qualified plans (other than Roth IRAs) to
begin making annual distributions of at least a minimum amount each year after a
specified point. For example, minimum distributions to an employee under an
employer's pension and profit sharing plan qualified under Section 401(a) of the
Code must begin no later than April 1 of the year following the year in which
the employee reaches age 70 1/2 or, if later, retires. On the other hand,
distributions from a traditional IRA, SIMPLE IRA or SEP IRA must begin no later
than April 1 of the year following the year in which the contract owner attains
age 70 1/2. The minimum amount of a distribution and the time when distributions
start will vary by plan.

Tax-free rollovers

For tax years beginning in 2002, if permitted under your plans, you may make
a tax-free rollover from:

.. a traditional IRA to another traditional IRA,

.. a traditional IRA to another tax-qualified plan, including a Section 403(b)
plan

.. any tax-qualified plan (other than a Section 457 deferred compensation plan
maintained by a tax-exempt organization) to a traditional IRA,

.. any tax-qualified plan (other than a Section 457 deferred compensation plan
maintained by a tax exempt organization) to another tax-qualified plan,
including a roll-over of amounts from your prior plan derived from your
"after-tax" contributions from "involuntary" distributions,

.. a Section 457 deferred compensation plan maintained by a tax-exempt
organization to another Section 457 deferred compensation plan maintained by a
tax-exempt organization and

.. a traditional IRA to a Roth IRA, subject to special restrictions discussed
below.

In addition, if your spouse survives you, he or she is permitted to rollover
your tax-qualified retirement account to another tax-qualified retirement
account in which your surviving spouse participates, to the extent permitted by
your surviving spouse' plan.

Traditional IRAs

Annual contribution limit. A traditional individual retirement annuity (as
defined in Section 408 of the Code) generally permits an eligible purchaser to
make annual contributions which cannot exceed the lesser of:

.. 100% of compensation includable in your gross income, or

.. the IRA annual limit for that tax year. For tax years beginning in 2002, 2003
and 2004, the annual limit is $3,000 per year. For tax years beginning in
2005, 2006 and 2007, the annual limit is $4,000 per year and, for the tax year
beginning in 2008, the annual limit is $5,000. After that, the annual limit is
indexed for inflation in $500 increments as provided in the Code.

Catch-Up Contributions. An IRA holder age 50 or older may increase
contributions from compensation to an IRA by an amount up to $500 a year for tax
years beginning in 2002, 2003, 2004 and 2005, and by an amount up to $1,000 for
the tax year beginning in 2006.

Spousal IRA. You may also purchase an IRA contract for the benefit of your
spouse (regardless of whether your spouse has a paying job). You can generally
contribute up to the annual limit for each of you and your spouse (or, if less,
your combined compensation).

Deductibility of contributions. You may be entitled to a full deduction, a
partial deduction or no deduction for your traditional IRA contribution on your
federal income tax return.

The amount of your deduction is based on the following factors:

.. whether you or your spouse is an active participant in an employer sponsored
retirement plan,

.. your federal income tax filing status, and

.. your "Modified Adjusted Gross Income."

Your traditional IRA deduction is subject to phase out limits, based on your
Modified Adjusted Gross Income, which are applicable according to your filing
status and whether you or your spouse are active participants in an employer
sponsored retirement plan. You can still contribute to a traditional IRA even if
your contributions are not deductible.

Distributions. In general, all amounts paid out from a traditional IRA
contract (in the form of an annuity, a single sum, death benefits or partial
withdrawal), are taxable to the payee as ordinary income. As in the case of a
contract not purchased under a tax-qualified plan, you may incur additional
adverse tax consequences if you make a surrender or withdrawal before you reach
age 59 1/2 (unless certain exceptions apply as specified in Code section 72(t)).
If you have made any non-deductible contributions to an IRA contract, all or
part of any withdrawal or surrender proceeds, single sum death benefit or
annuity payment, may be excluded from your taxable income when you receive the
proceeds.

The tax law requires that annuity payments under a traditional IRA contract
begin no later than April 1 of the year following the year in which the owner
attains age 70 1/2.

Roth IRAs

Annual contribution limit. A Roth IRA is a type of non-deductible IRA. In
general, you may make purchase payments of up to the IRA annual limit ($3,000
per year for tax years beginning in 2002, 2003 and 2004; $4,000 per year for tax
years beginning in 2005, 2006 and 2007, and $5,000 for the tax year beginning in
2008). After that, the annual limit is indexed for inflation in $500 increments
as provided in the Code.

The IRA annual limit for contributions to a Roth IRA phases out (i.e., is
reduced) for single taxpayers with adjusted gross incomes between $95,000 and
$110,000, for married taxpayers filing jointly with adjusted gross incomes
between $150,000 and $160,000, and for a married taxpayer filing separately with
adjusted gross income between $0 and $10,000.

Catch-Up Contributions. A Roth IRA holder age 50 or older may increase
contributions from compensation to an IRA by an amount up to $500 a year for tax
years beginning in 2002, 2003, 2004 and 2005, and by an amount up to $1,000 for
the tax year beginning in 2006.

Spousal IRA. You may also purchase a Roth IRA contract for the benefit of
your spouse (regardless of whether your spouse has a paying job). You can
generally contribute up to the annual limit for each of you and your spouse (or,
if less, your combined compensation), subject to the phase-out rules discussed
above.

Distributions. If you hold your Roth IRA for at least five years the payee
will not owe any federal income taxes or early withdrawal penalties on amounts
paid out from the contract:

.. after you reach age 59 1/2,

.. on your death or disability, or

.. to qualified first-time home buyers (not to exceed a lifetime limitation of
$10,000) as specified in the Code.

The Code treats payments you receive from Roth IRAs that do not qualify for
the above tax free treatment first as a tax-free return of the contributions you
made. However, any amount of such non-qualifying payments or distributions that
exceed the amount of your contributions is taxable to you as ordinary income and
possibly subject to the 10% penalty tax (unless certain exceptions apply as
specified in Code section 72(t).

Conversion to a Roth IRA. You can convert a traditional IRA to a Roth IRA,
unless

.. you have adjusted gross income over $100,000, or

.. you are a married taxpayer filing a separate return.

The Roth IRA annual contribution limit does not apply to converted amounts.

You must, however, pay tax on any portion of the converted amount that would
have been taxed if you had not converted to a Roth IRA. No similar limitations
apply to rollovers from one Roth IRA to another Roth IRA.

SIMPLE IRA plans

In general, a small business employer may establish a SIMPLE IRA retirement
plan if the employer employed 100 or fewer employees earning at least $5,000
during the preceding year. As an eligible employee of the business, you may make
pre-tax contributions to the SIMPLE IRA plan. You may specify the percentage of
compensation that you want to contribute under a qualified salary reduction
arrangement, provided the amount does not exceed the SIMPLE IRA annual
contribution limit. The SIMPLE IRA annual limit is $7,000 for tax years
beginning in 2002, $8,000 for 2003, $9,000 for 2004, and $10,000 for 2005. After
that, the annual limit is indexed for inflation in $500 increments as provided
in the Code. Your employer must elect to make a matching contribution of up to
3% of your compensation or a non-elective contribution equal to 2% of your
compensation.

Catch-Up Contributions. A SIMPLE IRA holder age 50 or older may increase
contributions of compensation by an amount up to $500 for tax years beginning in
2002, $1,000 for 2003, $1,500 for 2004, $2,000 for 2005 and $2,500 for 2006.
After that, for tax years beginning in 2007, the SIMPLE IRA catch-up
contribution limit is indexed annually for inflation in $500 increments as
provided in the Code.

Distributions. The requirements for minimum distributions from a SIMPLE IRA
retirement plan, and rules on taxation of distributions from a SIMPLE retirement
plan, are generally the same as those discussed above for distributions from a
traditional IRA.

Simplified Employee Pension plans (SEPs)

SEPs are employer sponsored plans that may accept an expanded rate of
contributions from one or more employers. Employer contributions are flexible,
subject to certain limits under the Code, and are made entirely by the business
owner directly to a SEP-IRA owned by the employee. Contributions are
tax-deductible by the business owner and are not includable in income by
employees until withdrawn. The maximum deductible amount that may be contributed
to a SEP is 25% of compensation, up to the SEP compensation limit specified in
the Code for the year ($200,000 for the year 2002) with a cap of $40,000.

Distributions. The requirements for minimum distributions from a SEP-IRA, and
rules on taxation of distributions from a SEP-IRA, are generally the same as
those discussed above for distributions from a traditional IRA.

Section 403(b) plans

Under these tax-sheltered annuity arrangements, public school systems and
certain tax-exempt organizations can make premium payments into "403(b)
contracts" owned by their employees that are not taxable currently to the
employee.

Annual Contribution Limit. In general, the amount of the non-taxable
contributions made for a 403(b) contract each year may not, together with all
other deferrals the employee elects under other tax-qualified plans, exceed an
annual "elective deferral limit" (see "Elective Deferral Limits," below). The
annual contribution limit is subject to certain other limits described in
Section 415 of the Code and the regulations thereunder. Special rules apply for
certain organizations that permit participants to increase their elective
deferrals.

Catch-Up Contributions. A Section 403(b) plan participant age 50 or older
may increase contributions to a 403(b) plan by an amount that, together with all
other catch-up contributions made to other tax-qualified plans, does not exceed
an annual "elective catch-up limit." (See "Elective Catch-Up Limits," below.)

Distributions. When we make payments from a 403(b) contract on surrender of
the contract, partial withdrawal, death of the annuitant, or commencement of an
annuity option, the payee ordinarily must treat the entire payment as ordinary
taxable income. Moreover, the Code prohibits distributions from a 403(b)
contract before the employee reaches age 59 1/2, except:

.. on the employee's separation from service, death, or disability,

.. with respect to distributions of assets held under a 403(b) contract as of
December 31, 1988, and

.. transfers and exchanges to other products that qualify under Section 403(b).

Minimum distributions under a 403(b) contract must begin no later than April 1
of the year following the year in which the employee reaches age 70 1/2 or, if
later, retires.

Pension and profit sharing plans qualified under Section 401(a)

In general, an employer may deduct from its taxable income premium payments it
makes under a qualified pension or profit-sharing plan described in Section
401(a) of the Code. Employees participating in the plan generally do not have to
pay tax on such contributions when made. Special requirements apply if a 401(a)
plan covers an employee classified under the Code as a "self-employed
individual" or as an "owner-employee."

Annuity payments (or other payments, such as upon withdrawal, death or
surrender) generally constitute taxable income to the payee; and the payee must
pay income tax on the amount by which a payment exceeds its allocable share of
the employee's "investment in the contract" (as defined in the Code), if any.
In general, an employee's "investment in the contract" equals the aggregate
amount of premium payments made by the employee.

The non-taxable portion of each annuity payment is determined, under the Code,
according to one formula if the payments are variable and a somewhat different
formula if the payments are fixed. In each case, speaking generally, the formula
seeks to allocate an appropriate amount of the investment in the contract to
each payment. Favorable procedures may also be available to taxpayers who had
attained age 50 prior to January 1, 1986.

Minimum distributions to the employee under an employer's pension and profit
sharing plan qualified under Section 401(a) of the Code must begin no later than
April 1 of the year following the year in which the employee (except an employee
who is a "5-percent owner" as defined in Code section 416) reaches age 70 1/2
or, if later, retires.

"Top-heavy" plans

Certain plans may fall within the definition of "top-heavy plans" under
Section 416 of the Code. This can happen if the plan holds a significant amount
of its assets for the benefit of "key employees" (as defined in the Code). You
should consider whether your plan meets the definition. If so, you should take
care to consider the special limitations applicable to top-heavy plans and the
potentially adverse tax consequences to key employees.

Section 457 deferred compensation plans

Under the provisions of Section 457 of the Code, you can exclude a portion of
your compensation from gross income if you participate in a deferred
compensation plan maintained by:

.. a state,

.. a political subdivision of a state,

.. an agency or instrumentality or a state or political subdivision of a state,
or

.. a tax-exempt organization.

As a "participant" in such a deferred compensation plan, any amounts you
exclude (and any income on such amounts) will be includible in gross income only
for the taxable year in which such amounts are paid or otherwise made available
to the annuitant or other payee.

The deferred compensation plan must satisfy several conditions, including the
following:

.. the plan must not permit distributions prior to your separation from service
(except in the case of an unforeseen emergency), and

.. all compensation deferred under the plan shall remain solely the employer's
property and may be subject to the claims of its creditors.

Annual contribution limit. The amount of the non-taxable contributions made
for a Section 457 plan each year may not, together with all other deferrals the
employee elects under other tax-qualified plans, exceed an annual "elective
deferral limit," and is subject to certain other limits described in Section
402(g) of the Code. (See "Elective Deferral Limits," below.)

Catch-Up Contributions. A 457 plan participant age 50 or older may increase
contributions to a 457 plan by an amount that, together with all other catch-up
contributions made to other tax-qualified plans, does not exceed an annual
"elective catch-up limit." (See "Elective Catch-Up Limits," below.)

Distributions. When we make payments under your contract in the form of an
annuity, or in a single sum such as on surrender, withdrawal or death of the
annuitant, the payment is taxed as ordinary income. Minimum distributions under
a Section 457 plan must begin no later than April 1 of the year following the
year in which the employee reaches age 70 1/2 or, if later, retires.

Elective Deferral Limits

A participant in a Section 403(b) plan, a Section 457 Plan or in certain other
types of tax-qualified pension and profit sharing plans that are commonly
referred to as "401(k)" plans and "SARSEPS" may elect annually to defer current
compensation so that it can be contributed to the applicable plan or plans.
The annual elective deferral limit is $11,000 for tax years beginning in 2002,
$12,000 for 2003, $13,000 for 2004, $14,000 for 2005 and $15,000 for 2006.
After that, for the tax years beginning in 2007, 2008 and 2009, the annual
elective deferral limit is indexed for inflation in $500 increments as provided
in the Code.

Elective Catch-up Limits

A participant in a Section 403(b) plan, a Section 457 Plan or in certain other
types of tax-qualified pension and profit sharing plans that are commonly
referred to as "401(k)" plans and "SARSEPS" who is age 50 or older may increase
contributions by an amount up to $1,000 for tax years beginning in 2002, $2,000
for 2003, $3,000 for 2004, $4,000 for 2005 and $5,000 for 2006. After that, for
the tax years beginning in 2007, the elective catch-up contribution limit is
indexed for inflation in $500 increments as provided in the Code.

Withholding on rollover distributions

The tax law requires us to withhold 20% from certain distributions from tax
qualified plans. We do not have to make the withholding, however, if you
rollover your entire distribution to another plan and you request us to pay it
directly to the successor plan. Otherwise, the 20% mandatory withholding will
reduce the amount you can rollover to the new plan, unless you add funds to the
rollover from other sources. Consult a qualified tax adviser before making such
a distribution.

Puerto Rico annuity contracts purchased to fund a tax-qualified plan

The provisions of the tax laws of Puerto Rico vary significantly from those
under the Internal Revenue Code of the United States with respect to the various
"tax qualified" plans described above. Although we may offer variable annuity
contracts in Puerto Rico in connection with "tax qualified" plans, the text of
the prospectus under the subsection "Contracts purchased for a tax-qualified
plan" is inapplicable in Puerto Rico and should be disregarded.

See your own tax adviser

The above description of Federal (and Puerto Rico) income tax consequences to
owners of and payees under contracts, and of the different kinds of tax
qualified plans which may be funded by the contracts, is only a brief summary
and is not intended as tax advice. The rules under the Code governing tax
qualified plans are extremely complex and often difficult to understand. Changes
to the tax laws may be enforced retroactively. Anything less than full
compliance with the applicable rules, all of which are subject to change from
time to time, can have adverse tax consequences. The taxation of an annuitant or
other payee has become so complex and confusing that great care must be taken to
avoid pitfalls. For further information you should consult a qualified tax
adviser.

PERFORMANCE INFORMATION

We may advertise total return information about investments made in the
variable investment options. We refer to this information as "Account level"
performance. In our Account level advertisements, we usually calculate total
return for 1, 5, and 10 year periods or since the beginning of the applicable
variable investment option.

Total return at the Account level is the percentage change between:

.. the value of a hypothetical investment in a variable investment option at the
beginning of the relevant period, and

.. the value at the end of such period.

At the Account level, total return reflects adjustments for:

.. the mortality and expense risk charges, and

.. the annual contract fee.

Total return at the Account level does not, however, reflect any premium tax
charges or any charges for optional benefit riders. Total return at the Account
level will be lower than that at the Series Fund level where comparable charges
are not deducted.

We may advertise "current yield" and "effective yield" for investments in the
Money Market investment option. Current yield refers to the income earned on
your investment in the Money Market investment option over a 7-day period and
then annualized. In other words, the income earned in the period is assumed to
be earned every 7 days over a 52-week period and stated as a percentage of the
investment.

Effective yield is calculated in a similar manner but, when annualized, the
income earned by your investment is assumed to be reinvested and thus compounded
over the 52-week period. Effective yield will be slightly higher than current
yield because of this compounding effect of reinvestment.

Current yield and effective yield reflect all the recurring charges at the
Account level, but will not reflect any premium tax charge or any charge for
optional benefit riders.

REPORTS

At least annually, we will send you (1) a report showing the number and value
of the accumulation units in your contract and (2) the financial statements of
the Series Funds.

VOTING PRIVILEGES

At meetings of the Series Funds' shareholders, we will generally vote all the
shares of each Fund that we hold in the Account in accordance with instructions
we receive from the owners of contracts that participate in the corresponding
variable investment option.

CERTAIN CHANGES

Changes to the Account

We reserve the right, subject to applicable law, including any required
shareholder approval,

.. to transfer assets that we determine to be your assets from the Account to
another separate account or investment option by withdrawing the same
percentage of each investment in the Account with proper adjustments to avoid
odd lots and fractions,

.. to add or delete variable investment options,

.. to change the underlying investment vehicles,

.. to operate the Account in any form permitted by law, and

.. to terminate the Account's registration under the 1940 Act, if such
registration should no longer be legally required.

Unless otherwise required under applicable laws and regulations, notice to or
approval of owners will not be necessary for us to make such changes.

Variations in charges or rates for eligible classes

We may allow a reduction in or the elimination of any contract charges, or an
increase in a credited interest rate for a guarantee period. The affected
contracts would involve sales to groups or classes of individuals under special
circumstances that we expect to result in a reduction in our expenses associated
with the sale or maintenance of the contracts, or that we expect to result in
mortality or other risks that are different from those normally associated with
the contracts.

The entitlement to such variation in charges or rates will be determined by us
based upon such factors as the following:

.. the size of the initial premium payment,

.. the size of the group or class,

.. the total amount of premium payments expected to be received from the group
or class and the manner in which the premium payments are remitted,

.. the nature of the group or class for which the contracts are being purchased
and the persistency expected from that group or class as well as the mortality
or morbidity risks associated with that group or class;

.. the purpose for which the contracts are being purchased and whether that
purpose makes it likely that the costs and expenses will be reduced, or

.. the level of commissions paid to selling broker-dealers or certain financial
institutions with respect to contracts within the same group or class.

We will make any reduction in charges or increase in initial guarantee rates
according to our rules in effect at the time an application for a contract is
approved. We reserve the right to change these rules from time to time. Any
variation in charges or rates will reflect differences in costs and services,
will apply uniformly to all prospective contract purchasers in the group or
class, and will not be unfairly discriminatory to the interests of any owner.
Any variation in charges or fees will reflect differences in costs and
services, will apply uniformly to all prospective contract purchasers in the
group or class, and will not be unfairly discriminatory to the interests of any
owner.

DISTRIBUTION OF CONTRACTS

Signator Investors, Inc.("Signator") acts as principal distributor of the
contracts sold through this prospectus. Signator is registered as a
broker-dealer under the Securities Exchange Act of 1934, and a member of the
National Association of Securities Dealers, Inc. Signator's address is 197
Clarendon Street, Boston, Massachusetts 02116. Signator is a subsidiary of John
Hancock Life Insurance Company.

You can purchase a contract through registered representatives of
broker-dealers and certain financial institutions who have entered into selling
agreements with JHVLICO and Signator. We pay broker-dealers compensation for
promoting, marketing and selling our variable insurance and variable annuity
products. In turn, the broker-dealers pay a portion of the compensation to their
registered representatives, under their own arrangements. Signator will also pay
its own registered representatives for sales of the contracts to their
customers. We do not expect the compensation we pay to such broker-dealers
(including Signator) and financial institutions to exceed 8.0% of premium
payments (on a present value basis) for sales of the contracts described in this
prospectus. For limited periods of time, we may pay additional compensation to
broker-dealers as part of special sales promotions. We offer these contracts on
a continuous basis, but neither JHVLICO nor Signator is obligated to sell any
particular amount of contracts. We also reimburse Signator for direct and
indirect expenses actually incurred in connection with the marketing of these
contracts.

From time to time, Signator, at its expense, may provide significant
additional compensation to financial services firms which sell or arrange for
the sale of the contracts. Such compensation may include, for example, financial
assistance to financial services firms in connection with their conferences or
seminars, sales or training programs for invited registered representatives and
other employees, payment for travel expenses, including lodging, incurred by
registered representatives and other employees for such seminars or training
programs, seminars for the public, advertising and sales campaigns regarding the
contracts, and/or other financial services firms-sponsored events or activities.

EXPERTS

Ernst & Young LLP, independent auditors, have audited the consolidated
financial statements and schedules of John Hancock Financial Services, Inc. at
December 31, 2002 and 2001, and for each of the three years in the period ended
December 31, 2002, as set forth in their report. Those financial statements and
schedules are included as part of the Form 10-K of JHFS for the year ended
December 31, 2002, which are incorporated by reference into this prospectus in
reliance upon Ernst & Young's report, given on their authority as experts in
accounting and auditing.

Ernst & Young LLP have also audited the consolidated financial statements of
John Hancock Variable Life Insurance Company at December 31, 2002 and 2001, and
for each of the three years in the period ended December 31, 2002, and the
financial statements of John Hancock Variable Annuity Account JF at December 31,
2002 and for each of the periods indicated therein, as set forth in their
reports. We've included the financial statements of JHVLICO and the financial
statements of the Account in the Statement of Additional Information, which also
is a part of the registration statement that contains this prospectus. These
financial statements are included in the registration statement in reliance on
Ernst & Young LLP's reports, given on their authority as experts in accounting
and auditing.

REGISTRATION STATEMENT

This prospectus omits certain information contained in the registration
statement that we filed with the SEC. Among other things, the registration
statement contains a "Statement of Additional Information" that we will send you
without charge upon request. The Table of Contents of the Statement of
Additional Information lists the following subjects that it covers:

page of SAI

DISTRIBUTION .................................................. 2

CALCULATION OF PERFORMANCE DATA ............................... 2

OTHER PERFORMANCE INFORMATION ................................. 16

CALCULATION OF ANNUITY PAYMENTS ............................... 16

ADDITIONAL INFORMATION ABOUT DETERMINING UNIT VALUES .......... 18

PURCHASES AND REDEMPTIONS OF FUND SHARES ...................... 19

THE ACCOUNT ................................................... 19

DELAY OF CERTAIN PAYMENTS ..................................... 20

LIABILITY FOR TELEPHONE TRANSFERS ............................. 20

VOTING PRIVILEGES ............................................. 21

FINANCIAL STATEMENTS .......................................... 22

CONDENSED FINANCIAL INFORMATION

JOHN HANCOCK VARIABLE ANNUITY ACCOUNT JF

The following table provides selected data for Revolution accumulation shares
for each investment option that was available during the period shown.
Revolution commenced operations on August 10, 1999.

Period from
Year Ended Year Ended Year Ended August 10, 1999
December 31, December 31, December 31, to December 31,
2002 2001 2000 1999
------------ ------------ ------------ ----------------

EQUITY INDEX
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $17.58 $20.22 $22.54 $10.00
End of period . . . . . . . . . . . . . . . . . . . $13.49 $17.58 $20.22 $22.54
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 86,077 804,600 507,320 76,098
LARGE CAP VALUE
Accumulation share value:
Beginning of period (Note 3). . . . . . . . . . . . . $11.38 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . $9.75 $11.38 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 50,708 334,667 -- --
LARGE CAP VALUE CORE/SM/
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $10.07 $10.71 $10.31 $10.00
End of period . . . . . . . . . . . . . . . . . . . $8.13 $10.07 $10.71 $10.31
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 80,764 1,056,790 520,128 92,493
LARGE CAP GROWTH
Accumulation share value:
Beginning of period (Note 3). . . . . . . . . . . . . $8.13 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . $5.79 $8.13 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 10,413 77,662 -- --
LARGE CAP AGGRESSIVE GROWTH
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $8.09 $9.60 $11.97 $10.00
End of period . . . . . . . . . . . . . . . . . . . $5.48 $8.09 $9.60 $11.97
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 78,966 1,205,414 1,040,129 178,388
GROWTH & INCOME
Accumulation share value:
Beginning of period (Note 2) . . . . . . . . . . . $7.36 $8.82 $10.00 --
End of period . . . . . . . . . . . . . . . . . . . $5.66 $7.36 $8.82 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 126,954 1,817,947 12,749 --
FUNDAMENTAL VALUE
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $10.73 $11.68 $10.43 $10.00
End of period . . . . . . . . . . . . . . . . . . . $8.75 $10.73 $11.68 $10.43
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 85,139 802,605 347,760 64,904
EARNINGS GROWTH
Accumulation share value:
Beginning of period (Note 1). . . . . . . . . . . . . $4.43 $7.11 $10.00 --
End of period . . . . . . . . . . . . . . . . . . . $2.96 $4.43 $7.11 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 154,964 1,636,323 629,910 --
FUNDAMENTAL GROWTH
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $9.86 $14.74 $15.39 $10.00
End of period . . . . . . . . . . . . . . . . . . . $6.79 $9.86 $14.74 $15.39
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 66,283 589,572 525,081 38,912
SMALL/MID CAP CORE/SM/
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $13.06 $13.16 $12.73 $11.00
End of period . . . . . . . . . . . . . . . . . . . $10.94 $13.06 $13.16 $12.73
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 41,956 220,092 114,891 9,532

Period from
Year Ended Year Ended Year Ended August 10, 1999
December 31, December 31, December 31, to December 31,
2002 2001 2000 1999
------------ ------------ ------------ ----------------

SMALL/MID CAP GROWTH
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $20.79 $20.47 $18.98 $18.07
End of period . . . . . . . . . . . . . . . . . . . $16.19 $20.79 $20.47 $18.98
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 29,475 242,085 136,439 14,779
SMALL CAP EMERGING GROWTH
Accumulation share value:
Beginning of period (Note 2) . . . . . . . . . . . $7.90 $8.30 $10.00 --
End of period . . . . . . . . . . . . . . . . . . . $5.60 $7.90 $8.30 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 8,332 79,406 535 --
SMALL CAP VALUE
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $16.31 $13.87 $10.46 $10.00
End of period . . . . . . . . . . . . . . . . . . . $15.07 $16.31 $13.87 $10.46
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 81,318 546,648 241,338 --
SMALL CAP GROWTH
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $14.19 $16.44 $21.19 $14.27
End of period . . . . . . . . . . . . . . . . . . . $9.81 $14.19 $16.44 $21.19
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 45,628 715,728 608,753 59,529
AIM V.I. PREMIER EQUITY
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $8.57 $9.92 $11.77 $10.00
End of period . . . . . . . . . . . . . . . . . . . $5.90 $8.57 $9.92 $11.77
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 230,661 3,090,645 2,548,369 302,772
AIM V.I. CAPITAL DEVELOPMENT - SERIES II CLASS
Accumulation share value:
Beginning of period (Note 4) . . . . . . . . . . . $10.00 -- -- --
End of period . . . . . . . . . . . . . . . . . . . $7.45 -- -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 2,620 -- -- --
FIDELITY VIP CONTRAFUND(R) - SERVICE CLASS
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $9.25 $10.69 $11.61 $10.00
End of period . . . . . . . . . . . . . . . . . . . $8.28 $9.25 $10.69 $11.61
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 202,789 1,645,859 1,447,471 237,990
MFS INVESTORS GROWTH STOCK - INITIAL CLASS
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $8.58 $11.45 $12.36 $10.00
End of period . . . . . . . . . . . . . . . . . . . $6.14 $8.58 $11.45 $12.36
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 146,522 1,280,675 971,077 158,192
MFS RESEARCH - INITIAL CLASS
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $8.67 $11.14 $11.86 $10.00
End of period . . . . . . . . . . . . . . . . . . . $6.46 $8.67 $11.14 $11.86
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 68,797 970,571 672,010 73,452
INTERNATIONAL EQUITY INDEX
Accumulation share value:
Beginning of period (Note 4) . . . . . . . . . . . $10.00 -- -- --
End of period . . . . . . . . . . . . . . . . . . . $6.77 -- -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 906 -- -- --
INTERNATIONAL OPPORTUNITIES
Accumulation share value:
Beginning of period (Note 3). . . . . . . . . . . . . $8.33 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . $6.72 $8.33 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 18,535 20,457 -- --
OVERSEAS EQUITY
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $10.76 $11.65 $12.98 $12.24
End of period . . . . . . . . . . . . . . . . . . . $9.96 $10.76 $11.65 $12.98
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 24,431 128,318 63,735 5,361

Period from
Year Ended Year Ended Year Ended August 10, 1999
December 31, December 31, December 31, to December 31,
2002 2001 2000 1999
------------ ------------ ------------ ----------------

FIDELITY VIP OVERSEAS - SERVICE CLASS
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $7.73 $9.97 $12.48 $10.00
End of period . . . . . . . . . . . . . . . . . . . $6.10 $7.73 $9.97 $12.48
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 143,079 960,931 1,107,608 30,517
EMERGING MARKETS EQUITY
Accumulation share value:
Beginning of period (Note 3) . . . . . . . . . . . . $9.85 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . $9.07 $9.85 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 2,150 7,941 -- --
JANUS ASPEN WORLDWIDE GROWTH - SERVICE SHARES CLASS
Accumulation share value:
Beginning of period (Note 2) . . . . . . . . . . . . $6.90 $9.03 $10.00 --
End of period . . . . . . . . . . . . . . . . . . . $5.07 $6.90 $9.03 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 42,016 322,018 128,709 --
REAL ESTATE EQUITY
Accumulation share value:
Beginning of period (Note 2) . . . . . . . . . . . . $11.43 $10.95 $10.00 --
End of period . . . . . . . . . . . . . . . . . . . $11.44 $11.43 $10.95 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 48,847 138,332 1,766 --
HEALTH SCIENCES
Accumulation share value:
Beginning of period (Note 3). . . . . . . . . . . . . $9.73 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . $7.69 $9.73 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 15,340 100,786 -- --
FINANCIAL INDUSTRIES (Note 5)
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $14.58 $17.90 $14.25 $10.00
End of period . . . . . . . . . . . . . . . . . . . $11.60 $14.58 $17.90 $14.25
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . 49,964 855,100 642,376 113,876
MANAGED
Accumulation share value:
Beginning of period (Note 2) . . . . . . . . . . . . $9.34 $9.73 $10.00 --
End of period . . . . . . . . . . . . . . . . . . . $8.00 $9.34 $9.73 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 80,473 868,814 89 --
SHORT TERM BOND
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $14.20 $13.30 $12.48 $12.34
End of period . . . . . . . . . . . . . . . . . . . $14.82 $14.20 $13.30 $12.48
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 132,895 440,240 126,421 15,433
BOND INDEX
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $11.31 $10.63 $9.63 $9.65
End of period . . . . . . . . . . . . . . . . . . . $12.28 $11.31 $10.63 $9.63
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 145,149 833,929 327,502 47,232
ACTIVE BOND
Accumulation share value:
Beginning of period (Note 3). . . . . . . . . . . . . $10.39 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . $11.00 $10.39 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 191,092 1,154,989 -- --

Period from
Year Ended Year Ended Year Ended August 10, 1999
December 31, December 31, December 31, to December 31,
2002 2001 2000 1999
------------ ------------ ------------ ----------------

HIGH YIELD BOND
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . $9.12 $9.04 $10.27 $10.00
End of period. . . . . . . . . . . . . . . . . . . . $8.60 $9.12 $9.04 $10.27
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 77,833 644,021 333,028 48,898
GLOBAL BOND
Accumulation share value:
Beginning of period (Note 2) . . . . . . . . . . . . $10.31 $10.60 $10.00 --
End of period. . . . . . . . . . . . . . . . . . . . $12.10 $10.31 $10.60 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 28,155 71,857 -- --
MONEY MARKET
Accumulation share value:
Beginning of period (Note 3) . . . . . . . . . . . . $10.12 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . $10.15 $10.12 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . . 1.018,815 4,289,180 -- --

(1) Values shown for 2000 begin on May 1, 2000.
(2) Values shown for 2000 begin on November 1, 2000.
(3) Values shown for 2001 begin on May 1, 2001.
(4) Values shown for 2002 begin on May 1, 2002.
(5) Values shown for Financial Industries are based on Account holdings of
the predecessor fund.

APPENDIX A - DETAILS ABOUT OUR GUARANTEE PERIODS

INVESTMENTS THAT SUPPORT OUR GUARANTEE PERIODS

We back our obligations under the guarantee periods with JHVLICO's general
assets. Subject to applicable law, we have sole discretion over the investment
of our general assets (including those held in our "non-unitized" separate
account that primarily supports the guarantee periods). We invest these amounts
in compliance with applicable state insurance laws and regulations concerning
the nature and quality of our general investments.

We invest the non-unitized separate account assets, according to our detailed
investment policies and guidelines, in fixed income obligations, including:

.. corporate bonds,

.. mortgages,

.. mortgage-backed and asset-backed securities, and

.. government and agency issues.

We invest primarily in domestic investment-grade securities. In addition, we
use derivative contracts only for hedging purposes, to reduce ordinary business
risks associated with changes in interest rates, and not for speculating on
future changes in the financial markets. Notwithstanding the foregoing, we are
not obligated to invest according to any particular strategy.

GUARANTEED INTEREST RATES

We declare the guaranteed rates from time to time as market conditions and
other factors dictate. We advise you of the guaranteed rate for a selected
guarantee period at the time we:

.. receive your premium payment,

.. effectuate your transfer, or

.. renew your guarantee period

We have no specific formula for establishing the guaranteed rates for the
guarantee periods. The rates may be influenced by interest rates generally
available on the types of investments acquired with amounts allocated to the
guarantee period. In determining guarantee rates, we may also consider, among
other factors, the duration of the guarantee period, regulatory and tax
requirements, sales and administrative expenses we bear, risks we assume, our
profitability objectives, and general economic trends.

COMPUTATION OF MARKET VALUE ADJUSTMENT

We determine the amount of the market value adjustment by multiplying the
amount being taken from the guarantee period by a factor expressed by the
following formula:

1+g
(---------)n/12-1
1+c+0.005

.. g is the guaranteed rate in effect for the current guarantee period.

.. c is the current guaranteed rate in effect for new guarantee periods with
duration equal to the number of years remaining in the current guarantee
period (rounded to the nearest whole number of years). If we are

not currently offering such a guarantee period, we will declare a
guarantee rate, solely for this purpose, consistent with interest rates
currently available.

. n is the number of complete months from the date of withdrawal to the end
of the current guarantee period. (If less than one complete month
remains, N equals one unless the withdrawal is made on the last day of
the guarantee period, in which case no adjustment applies.)

SAMPLE CALCULATION 1: POSITIVE ADJUSTMENT

- --------------------------------------------------------------------------------
Amount withdrawn or transferred $10,000
- --------------------------------------------------------------------------------
Guarantee period 5 years
- --------------------------------------------------------------------------------
Time of withdrawal or transfer beginning of 3rd year of guaranteed period
- --------------------------------------------------------------------------------
Guaranteed rate (g) 4%
- --------------------------------------------------------------------------------
Guaranteed rate for new 3 year 3%
guarantee (c)
- --------------------------------------------------------------------------------
Remaining guarantee period (n) 36 months
- --------------------------------------------------------------------------------

Market value adjustment:

1+0.04
10,000x[(------------)36/12-1]=145.63
1+0.03+0.005

Amount withdrawn or transferred (adjusted for market value adjustment): $10,000
+ $145.63 = $10,145.63

SAMPLE CALCULATION 2: NEGATIVE ADJUSTMENT

- --------------------------------------------------------------------------------
Amount withdrawn or transferred $10,000
- --------------------------------------------------------------------------------
Guarantee period 5 years
- --------------------------------------------------------------------------------
Time of withdrawal or transfer beginning of 3rd year of guaranteed period
- --------------------------------------------------------------------------------
Guaranteed rate (g) 4%
- --------------------------------------------------------------------------------
Guaranteed rate for new 3 year 5%
guarantee (c)
- --------------------------------------------------------------------------------
Remaining guarantee period(n) 36 months
- --------------------------------------------------------------------------------

Market value adjustment:

1+0.04
10,000x[(------------)36/12-1]=420.52
1+0.05+0.005

Amount withdrawn or transferred (adjusted for market value adjustment): $10,000
- - 420.50 = $9,579.50

*All interest rates shown have been arbitrarily chosen for purposes of these
examples. In most cases they will bear little or no relation to the rates we are
actually guaranteeing at any time.

APPENDIX B - EXAMPLES OF EARNINGS ENHANCEMENT DEATH BENEFIT CALCULATION

The following are examples of the optional earnings enhancement death benefit.
We have assumed that there are earnings under the contracts in each case. Actual
investment performance may be greater or lower than the amounts shown.

EXAMPLE 1 - EARNINGS ENHANCEMENT DEATH BENEFIT WITH STANDARD DEATH BENEFIT, NO
ADJUSTMENTS FOR WITHDRAWALS OR ADDITIONAL PREMIUM PAYMENTS

Assume:

.. You elect the earnings enhancement death benefit rider (but not the enhanced
death benefit rider) when you purchase your contract,

.. At the time of purchase, you and the annuitant are each under age 70 and you
pay an initial premium of $100,000,

.. You allocate the premium to a variable investment option, and make no
transfers of contract value to other investment options,

.. We determine the death benefit before the Maturity Date, in the fourth year
of your contract on a day when the total value of your contract is $180,000.

Calculation of Standard Death Benefit

We compare the total value of your contract ($180,000, with no market value
adjustment) to the total amount of premiums you paid ($100,000, with no
adjustment for withdrawals). The standard death benefit is the higher of the
two, or $180,000.

Calculation of Earnings Enhancement Amount

Because you and the annuitant were both under age 70 when the rider was
issued, the earnings enhancement amount is 40% of the difference between the
standard death benefit and your "Net Premiums," up to a maximum benefit amount
equal to 80% of your "Adjusted Net Premiums."

Calculation of Net Premiums and Adjusted Net Premiums - To determine "Net
Premiums," we reduce the premiums you paid ($100,000) by the amount of any
withdrawals in excess of earnings ($0). In this example, the Net Premiums is
$100,000. To determine "Adjusted Net Premiums," we reduce the Net Premiums
($100,000) by any premiums you made, other than the initial premium, during the
12 months before we calculated the death benefit ($0). In this example, the
"Adjusted Net Premiums" is $100,000.

Calculation of Maximum Benefit Amount - The maximum benefit amount under the
earnings enhancement death benefit rider in this example is 80% of the Adjusted
Net Premiums ($100,000), or $80,000.

The earnings enhancement amount is 40% of the difference between the standard
death benefit ($180,000) and your Net Premiums ($100,000), up to the maximum
benefit amount. In this example, 40% of the difference is $32,000, which is less
than the maximum benefit amount ($80,000). The earnings enhancement amount is
therefor $32,000.

The total Death Benefit in this example is the standard death benefit
($180,000) plus the earnings enhancement amount ($32,000), or $212,000.

EXAMPLE 2 - EARNINGS ENHANCEMENT DEATH BENEFIT WITH ENHANCED DEATH BENEFIT,
ADJUSTED FOR WITHDRAWAL AND ADDITIONAL PREMIUM

Assume:

.. You elect the earnings enhancement death benefit rider and the enhanced death
benefit rider when you purchase your contract,

.. At the time of purchase, you are over age 70 and you pay an initial premium
of $100,000,

.. You allocate the premium to a variable investment option, and make no
transfers of contract value to other investment options,

.. On the seventh anniversary of your contract, your total value in the contract
is $175,000, which is the highest value on any anniversary date

.. On the day after the seventh anniversary of your contract, you make a
withdrawal of $80,000,

.. On the eighth anniversary of your contract, the total value of your contract
is $110,000, and you make an additional premium payment of $10,000 at the end
of the eighth year of your contract

.. We determine the death benefit before the Maturity Date in the middle of the
ninth year of your contract, on a day when the total value of your contract is
$120,000.

Calculation of Enhanced Death Benefit

In this example, the enhanced death benefit is the highest of an accumulated
premium "roll-up" amount, a "highest anniversary value" amount and the value of
your contract on the date the death benefit is determined.

Calculation of Premium Roll-up - We calculate the amount of each premium you
have paid, accumulated at a 5% effective annual rate, adjusted for any
withdrawals. In this example, the accumulated value of your initial premium,
after adjustment for the $80,000 withdrawal, is $65,319.75, and the accumulated
value of your second premium is $10,246.95. The total amount of the premium
"roll-up" is $75,566.70.

Calculation of Highest Anniversary Value - We determine the highest
anniversary value of your contract on any anniversary date during the rider's
measuring period ($175,000), plus any premiums since that date ($10,000), minus
any withdrawals since that date ($80,000). In this example, the "highest
anniversary value" is $105,000.

The total value of your contract on the date the death benefit is determined
($120,000, with no market value adjustment) is higher than the premium roll-up
amount ($75,566.70) and higher than the "highest anniversary value" amount
($105,000). The enhanced death benefit is therefor $120,000.

Calculation of Earnings Enhancement Amount

Because you were over age 70 when the rider was issued, the earnings
enhancement amount is 25% of the difference between the enhanced death benefit
and your "Net Premiums," up to a maximum benefit amount equal to 50% of your
"Adjusted Net Premiums."

Calculation of Net Premiums and Adjusted Net Premiums - To determine "Net
Premiums," we reduce the premiums you paid by the amount of any withdrawals in
excess of earnings (including withdrawal charges). In this example, you withdrew
$80,000 at a time when your earnings were $75,000. The amount withdrawn in
excess of earnings is therefore $5,000. Net Premiums is the amount of premiums
paid ($110,000) less amounts withdrawn in excess of earnings ($5,000), or
$105,000. To determine "Adjusted Net Premiums," we reduce the Net Premiums
($105,000) by any premiums you made during the 12 months before we calculated
the death benefit ($10,000). In this example, the "Adjusted Net Premiums" is
$95,000.

Calculation of Maximum Benefit Amount - The maximum benefit amount under the
earnings enhancement death benefit rider in this example is 50% of your Adjusted
Net Premiums ($95,000), or $47,500.

The earnings enhancement amount is 25% of the difference between the enhanced
death benefit ($120,000) and your Net Premiums ($105,000), up to the maximum
benefit amount. In this example, 25% of the difference is $3,750, which is less
than the maximum benefit amount ($47,500). The earnings enhancement amount is
therefor $3,750.

The total Death Benefit in this example is the enhanced death benefit
($120,000) plus the earnings enhancement amount ($3,750), or $123,750.

PROSPECTUS DATED MAY 1, 2003

REVOLUTION EXTRA VARIABLE ANNUITY

a deferred combination fixed and variable annuity contract issued by
JOHN HANCOCK VARIABLE LIFE INSURANCE COMPANY ("JHVLICO")
JOHN HANCOCK VARIABLE ANNUITY ACCOUNT JF

The contract enables you to earn fixed rates of interest that we guarantee
for stated periods of time ("guarantee periods") and investment-based
returns in the following variable investment options:

VARIABLE INVESTMENT OPTIONS: UNDERLYING FUND MANAGED BY:

EQUITY OPTIONS:
Equity Index ..................... SSgA Funds Management, Inc.
Large Cap Value .................. T. Rowe Price Associates, Inc.
Large Cap Value CORE /SM/ ........ Goldman Sachs Asset Management, L.P.
Large Cap Growth ................. Independence Investment LLC
Large Cap Aggressive Growth ...... Janus Capital Management, LLC
Earnings Growth .................. Fidelity Management & Research Company
Growth & Income .................. Independence Investment LLC and Putnam Investment Management, LLC
Fundamental Value ................ Wellington Management Company, LLP
Fundamental Growth ............... Putnam Investment Management, LLC
Mid Cap Value .................... T. Rowe Price Associates, Inc.
Small/Mid Cap CORE /SM/ .......... Goldman Sachs Asset Management, L.P.
Small/Mid Cap Growth ............. Wellington Management Company, LLP
Small Cap Value .................. T. Rowe Price Associates, Inc. and Wellington Management Company, LLP
Small Cap Growth ................. John Hancock Advisers, LLC
Small Cap Emerging Growth ........ Wellington Management Company, LLP
AIM V.I. Premier Equity .......... A I M Advisors, Inc.
AIM V.I. Capital Development ..... A I M Advisors, Inc.
Fidelity VIP Contrafund/(R)/ ..... Fidelity Management & Research Company
MFS Investors Growth Stock ....... MFS Investment Management/(R)/
MFS Research ..................... MFS Investment Management/(R)/
International Equity Index ....... Independence Investment LLC
International Opportunities ...... T. Rowe Price International, Inc.
Overseas Equity .................. Capital Guardian Trust Company
Fidelity VIP Overseas. ........... Fidelity Management & Research Company
Emerging Markets Equity .......... Van Kampen (a registered trade name of Morgan Stanley Investment Management Inc.)
Janus Aspen Worldwide Growth ..... Janus Capital Management, LLC
Real Estate Equity ............... RREEF America LLC and Van Kampen (a registered trade name of Morgan Stanley Investment
Management Inc.)
Health Sciences .................. Wellington Management Company, LLP
Financial Industries ............. John Hancock Advisers, LLC
Janus Aspen Global Technology .... Janus Capital Management, LLC

BALANCED OPTIONS:
Managed .......................... Independence Investment LLC and Capital Guardian Trust Company

BOND & MONEY MARKET OPTIONS:
Short-Term Bond .................. Independence Investment LLC
Bond Index ....................... Standish Mellon Asset Management Company LLC
Active Bond ...................... John Hancock Advisers, LLC
Total Return Bond ................ Pacific Investment Management Company LLC
High Yield Bond .................. Wellington Management Company, LLP
Global Bond ...................... Capital Guardian Trust Company
Money Market ..................... Wellington Management Company, LLP

The variable investment options shown on page 1 are those available as of
the date of this prospectus. We may add, modify or delete variable investment
options in the future.

When you select one or more of these variable investment options, we invest
your money in the corresponding investment option(s) of one or more of the
following: the John Hancock Variable Series Trust I, the AIM Variable Insurance
Funds, Fidelity's Variable Insurance Products Fund (Service Class) and Variable
Insurance Products Fund II (Service Class), the Janus Aspen Series (Service
Shares Class), and the MFS Variable Insurance Trust (Initial Class) (together,
"the Series Funds"). In this prospectus, the investment options of the Series
Funds are referred to as funds. In the prospectuses for the Series Funds, the
investment options may also be referred to as "funds," "portfolios" or "series."

The Revolution Extra Variable Annuity provides an Extra Credit feature that is
described on page 13. Because of this feature, the withdrawal charge applicable
to certain withdrawals of contract value may be higher than those imposed under
contracts without an "extra credit" or "bonus" feature. The amount of the Extra
Credit that we add to your contract may be more than offset by the withdrawal
charge that is described on page 17 if you prematurely "surrender" or otherwise
withdraw money in excess of the Free Withdrawal Amounts (see page 17) while this
charge is in effect.

JOHN HANCOCK ANNUITY SERVICING OFFICE
-------------------------------------

MAIL DELIVERY
-------------
P.O. Box 772
Boston, MA 02117

OVERNIGHT DELIVERY
------------------
John Hancock Annuity Image Operations
27 Dry Dock Avenue, Second floor
South Boston, MA 02110

PHONE: 1-800-824-0335

FAX: 1-617-572-1571

************************************************************************

Please note that the SEC has not approved or disapproved these securities, or
determined if this prospectus is truthful or complete. Any representation to the
contrary is a criminal offense.

GUIDE TO THIS PROSPECTUS

This prospectus contains information that you should know before you buy a
contract or exercise any of your rights under the contract. We have arranged the
prospectus in the following way:

. The first section contains an "INDEX OF KEY WORDS."

. Behind the index is the "FEE TABLE." This section highlights the various
fees and expenses you will pay directly or indirectly, if you purchase a
contract.

. Behind the Basic Information is "ADDITIONAL INFORMATION." This section
gives more details about the contract. It generally does not repeat
information contained in the Basic Information.

The Series Funds' prospectuses are attached at the end of this prospectus. You
should save these prospectuses for future reference.

IMPORTANT NOTICES

This is the prospectus - it is not the contract. The prospectus simplifies
many contract provisions to better communicate the contract's essential
features. Your rights and obligations under the contract will be determined by
the language of the contract itself. On request, we will provide the form of
contract for you to review. In any event, when you receive your contract, we
suggest you read it promptly.

We've also filed with the SEC a "Statement of Additional Information." This
Statement contains detailed information not included in the prospectus.
Although a separate document from this prospectus, the Statement of Additional
Information has the same legal effect as if it were a part of this prospectus.
We will provide you with a free copy of the Statement upon your request. To
give you an idea what's in the Statement, we have included a copy of the
Statement's table of contents on page 45.

INDEX OF KEY WORDS

We define or explain each of the following key words used in this prospectus
on the pages shown below:

KEY WORD PAGE

Accumulation units . . . . . . . . . . . . . . . . . . . . . 30
Annuitant. . . . . . . . . . . . . . . . . . . . . . . . . . 10
Annuity payments . . . . . . . . . . . . . . . . . . . . . . 13
Annuity period . . . . . . . . . . . . . . . . . . . . . . . 13
Business Day . . . . . . . . . . . . . . . . . . . . . . . . 11
Contract year. . . . . . . . . . . . . . . . . . . . . . . . 10
Date of issue. . . . . . . . . . . . . . . . . . . . . . . . 10
Date of maturity . . . . . . . . . . . . . . . . . . . . . . 31
Extra Credits. . . . . . . . . . . . . . . . . . . . . . . . 13
Free withdrawal amount . . . . . . . . . . . . . . . . . . . 17
Funds. . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Guarantee period . . . . . . . . . . . . . . . . . . . . . . 12
Investment options . . . . . . . . . . . . . . . . . . . . . 14
Market value adjustment. . . . . . . . . . . . . . . . . . . 12
Premium payments . . . . . . . . . . . . . . . . . . . . . . 10
Surrender. . . . . . . . . . . . . . . . . . . . . . . . . . 17
Surrender value. . . . . . . . . . . . . . . . . . . . . . . 18
Total value of your contract . . . . . . . . . . . . . . . . 12
Variable investment options. . . . . . . . . . . . . . . cover
Withdrawal charge. . . . . . . . . . . . . . . . . . . . . . 17
Withdrawal . . . . . . . . . . . . . . . . . . . . . . . . . 17

FEE TABLES

THE FOLLOWING TABLES DESCRIBE THE FEES AND EXPENSES THAT YOU WILL PAY WHEN
BUYING, OWNING AND SURRENDERING A REVOLUTION EXTRA CONTRACT. THE FIRST TABLE
DESCRIBES THE CHARGES THAT YOU WILL PAY AT THE TIME THAT YOU BUY THE CONTRACT,
SURRENDER THE CONTRACT, OR TRANSFER ACCOUNT VALUE BETWEEN INVESTMENT OPTIONS.
STATE PREMIUM TAXES MAY ALSO BE DEDUCTED.

Contractowner Transaction Expenses Revolution Extra

- -------------------------------------------------------------------------------
Maximum Withdrawal Charge (as % of amount 7% within 4 years
withdrawn or surrendered)/1/ 6% within 5 years
5% within 6 years
4% within 7 years
0 % thereafter
- -------------------------------------------------------------------------------
Maximum transfer charge/2/ $25
- -------------------------------------------------------------------------------

/1/This charge is taken upon withdrawal or surrender within the specified
period of years measured from the date of premium payment.
/2/This charge is not currently imposed, but we reserve the right to do so in
the contract. If we do, it will be taken upon each transfer into or out of
any investment option beyond an annual limit of not less than 12.

THE NEXT TABLE DESCRIBES THE FEES AND EXPENSES THAT YOU WILL PAY PERIODICALLY
DURING THE TIME YOU OWN THE CONTRACT. THIS TABLE DOES NOT INCLUDE FEES AND
EXPENSES PAID AT THE FUND LEVEL.

- -------------------------------------------------------------------------------
Revolution Extra
- -------------------------------------------------------------------------------
Maximum Annual Contract Fee/3/ $50
- -------------------------------------------------------------------------------
Current Annual Contract Fee/4/ $30
- -------------------------------------------------------------------------------
Separate Account Annual Expenses 1.25%
(as a percentage of average
account value)/5/
- -------------------------------------------------------------------------------
Optional Benefit Rider Charges/6/:
- -------------------------------------------------------------------------------
Waiver of Withdrawal Charge 0.10% of that portion of your contract's
("CARESolutions") Rider total value attributable to premiums that
are still subject to surrender charges
- -------------------------------------------------------------------------------
Enhanced Death Benefit Rider/7/ 0.25% of your contract's total value
- -------------------------------------------------------------------------------
Earnings Enhancement ("Beneficiary 0.25% of your contract's total value
Tax Relief") Death Benefit Rider
- -------------------------------------------------------------------------------
Accumulated Value Enhancement
("CARESolutions Plus") Rider/8/ 0.35% of your initial premium payment
- -------------------------------------------------------------------------------
Guaranteed Retirement Income 0.30% of your contract's total value
Benefit Rider
- -------------------------------------------------------------------------------

/3/This charge is not currently imposed, and would only apply to contracts of
less than $50,000.

/4/This charge applies only to contracts of less than $50,000. It is taken at
the end of each contract year but, if you surrender a contract before then,
it will be taken at the time of surrender.

/5/This charge only applies to that portion of account value held in the
variable investment options. The charge does not apply to amounts in the
guarantee periods.

/6/Charges for optional benefit riders are assessed monthly. The monthly
charge is 1/12/th/ of the annual charge shown in the table.

/7/In certain states (and for riders issued prior to May 1, 2002), the rate
for the Enhanced Death Benefit rider may be lower than the amount shown.

/8/This rider is available only if you purchase the Waiver of Withdrawal
Charge rider as well. We reserve the right to increase the annual charge
shown on a uniform basis for all Accumulated Value Enhancement riders issued
in the same state.

THE NEXT TABLE DESCRIBES THE MINIMUM AND MAXIMUM TOTAL OPERATING EXPENSES
CHARGED BY THE FUNDS THAT YOU MAY PAY PERIODICALLY DURING THE TIME YOU OWN A
REVOLUTION EXTRA CONTRACT. MORE DETAIL CONCERNING EACH FUND'S FEES AND EXPENSES
IS CONTAINED IN THE SERIES FUNDS' PROSPECTUSES.

Total Annual Fund Operating Expenses Minimum Maximum
- --------------------------------------------------------------------------------
Range of expenses that are deducted from 0.23% 3.45%
fund assets, including management fees,
distribution and/ or service (12b-1) fees,
and other expenses
- --------------------------------------------------------------------------------
Range of expenses after taking account of 0.23% 1.60%*
certain reimbursements or waivers of
expenses and fees
- --------------------------------------------------------------------------------

THE NEXT TABLE DESCRIBES FUND LEVEL FEES AND EXPENSES FOR EACH OF THE FUNDS.
MORE DETAIL CONCERNING EACH FUND'S FEES AND EXPENSES IS CONTAINED IN THE
PROSPECTUSES FOR THE SERIES FUNDS.

JOHN HANCOCK VARIABLE SERIES
TRUST I (NOTE 1):
- ------------------------------------------------------------------------------------------------------------------------------
Equity Index . . . . . . . . . . 0.13% N/A 0.10% 0.23 % 0.00% 0.23%
- ------------------------------------------------------------------------------------------------------------------------------
Large Cap Value. . . . . . . . . 0.75% N/A 0.08% 0.83 % 0.00% 0.83%
- ------------------------------------------------------------------------------------------------------------------------------
Large Cap Value CORE /SM/ . . . 0.74% N/A 0.23% 0.97 % 0.13% 0.84%
- ------------------------------------------------------------------------------------------------------------------------------
Large Cap Growth . . . . . . . . 0.79% N/A 0.08% 0.87 % 0.00% 0.87%
- ------------------------------------------------------------------------------------------------------------------------------
Large Cap Aggressive Growth. . . 0.87% N/A 0.11% 0.98 % 0.01% 0.97%
- ------------------------------------------------------------------------------------------------------------------------------
Earnings Growth* . . . . . . . . 0.95% N/A 0.09% 1.04 % 0.00% 1.04%
- ------------------------------------------------------------------------------------------------------------------------------
Growth & Income. . . . . . . . . 0.67% N/A 0.08% 0.75 % 0.00% 0.75%
- ------------------------------------------------------------------------------------------------------------------------------
Fundamental Value . . . . . . . 0.77% N/A 0.08% 0.85 % 0.00% 0.85%
- ------------------------------------------------------------------------------------------------------------------------------
Fundamental Growth . . . . . . . 0.90% N/A 0.26% 1.16 % 0.16% 1.00%
- ------------------------------------------------------------------------------------------------------------------------------
Mid Cap Value. . . . . . . . . . 1.10% N/A 0.10% 1.20 % 0.00% 1.20%
- ------------------------------------------------------------------------------------------------------------------------------
Small/Mid Cap CORE /SM/ . . . . 1.05% N/A 0.25% 1.30 % 0.15% 1.15%
- ------------------------------------------------------------------------------------------------------------------------------
Small/Mid Cap Growth . . . . . . 0.97% N/A 0.10% 1.07 % 0.00% 1.07%
- ------------------------------------------------------------------------------------------------------------------------------
Small Cap Value. . . . . . . . . 0.95% N/A 0.09% 1.04 % 0.00% 1.04%
- ------------------------------------------------------------------------------------------------------------------------------
Small Cap Growth . . . . . . . . 1.05% N/A 0.08% 1.13 % 0.00% 1.13%
- ------------------------------------------------------------------------------------------------------------------------------
Small Cap Emerging Growth* . . . 1.05% N/A 0.14% 1.19 % 0.04% 1.15%
- ------------------------------------------------------------------------------------------------------------------------------
International Equity Index . . . 0.18% N/A 0.28% 0.46 % 0.18% 0.28%
- ------------------------------------------------------------------------------------------------------------------------------
International Opportunities. . . 1.14% N/A 0.41% 1.55 % 0.31% 1.24%
- ------------------------------------------------------------------------------------------------------------------------------
Overseas Equity* . . . . . . . . 1.05% N/A 0.40% 1.45 % 0.30% 1.15%
- ------------------------------------------------------------------------------------------------------------------------------
Emerging Markets Equity. . . . . 1.50% N/A 1.95% 3.45 % 1.85% 1.60%
- ------------------------------------------------------------------------------------------------------------------------------
Real Estate Equity . . . . . . . 0.98% N/A 0.09% 1.07 % 0.00% 1.07%
- ------------------------------------------------------------------------------------------------------------------------------
Health Sciences. . . . . . . . . 1.00% N/A 0.35% 1.35 % 0.25% 1.10%
- ------------------------------------------------------------------------------------------------------------------------------
Financial Industries . . . . . . 0.80% N/A 0.10% 0.90 % 0.00% 0.90%
- ------------------------------------------------------------------------------------------------------------------------------
Managed. . . . . . . . . . . . . 0.68% N/A 0.08% 0.76 % 0.00% 0.76%
- ------------------------------------------------------------------------------------------------------------------------------
Short-Term Bond. . . . . . . . . 0.60% N/A 0.08% 0.68 % 0.00% 0.68%
- ------------------------------------------------------------------------------------------------------------------------------
Bond Index . . . . . . . . . . . 0.14% N/A 0.11% 0.25 % 0.01% 0.24%
- ------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------
AIM VARIABLE INSURANCE FUNDS -
SERIES I SHARES:
- ------------------------------------------------------------------------------------------------------------------------------
AIM V.I. Premier Equity Fund . . 0.61% N/A 0.24% 0.85 % 0.00% 0.85%
- ------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------
AIM VARIABLE INSURANCE FUNDS -
SERIES II SHARES:
- ------------------------------------------------------------------------------------------------------------------------------
AIM V.I. Capital Development Fund 0.75% 0.25% 0.39% 1.39 % 0.00% 1.39%
- ------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------
VARIABLE INSURANCE PRODUCTS FUND
- SERVICE CLASS:
- ------------------------------------------------------------------------------------------------------------------------------
Fidelity/(R)/ VIP Overseas . . . 0.73% 0.10% 0.17% 1.00 % 0.00% 1.00%
- ------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------
VARIABLE INSURANCE PRODUCTS FUND
II - SERVICE CLASS:
- ------------------------------------------------------------------------------------------------------------------------------
Fidelity/(R)/ VIP Contrafund/(R)/ 0.58% 0.10% 0.10% 0.78 % 0.00% 0.78%
- ------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------
JANUS ASPEN SERIES - SERVICE
SHARES CLASS:
- ------------------------------------------------------------------------------------------------------------------------------
Janus Aspen Worldwide Growth . . 0.65% 0.25% 0.05% 0.95 % 0.00% 0.95%
- ------------------------------------------------------------------------------------------------------------------------------
Janus Aspen Global Technology. . 0.65% 0.25% 0.07% 0.97 % 0.00% 0.97%
- ------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------
MFS VARIABLE INSURANCE TRUST
INITIAL CLASS SHARES (NOTE 2):
- ------------------------------------------------------------------------------------------------------------------------------
MFS/(R)/ Investors Growth Stock. 0.75% N/A 0.13% 0.88 % 0.00% 0.88%
- ------------------------------------------------------------------------------------------------------------------------------
MFS/(R)/ Research. . . . . . . . 0.75% N/A 0.12% 0.87 % 0.00% 0.87%
- ------------------------------------------------------------------------------------------------------------------------------

* Earnings Growth was formerly "Multi Cap Growth," Small Cap Emerging Growth
was formerly "Small Cap Equity," and Overseas Equity was formerly "Global
Balanced."

arrangements and directed brokerage arrangements, which would also have the
effect of reducing the fund's expenses. "Other Operating Expenses" do not
take into account these expense reductions, and are therefore higher than the
actual expenses of the funds. Had these fee reductions been taken into
account, "Total Fund Operating Expenses with Reimbursement" would equal 0.87%
for MFS Investors Growth Stock and 0.86% for MFS Research.

EXAMPLES

THE FOLLOWING TWO EXAMPLES ARE INTENDED TO HELP YOU COMPARE THE COST OF
INVESTING IN A REVOLUTION EXTRA CONTRACT WITH THE COST OF INVESTING IN OTHER
VARIABLE ANNUITY CONTRACTS. THESE COSTS INCLUDE CONTRACT OWNER TRANSACTION
EXPENSES, CONTRACT FEES, SEPARATE ACCOUNT ANNUAL EXPENSES AND FUND FEES AND
EXPENSES.

THE FIRST EXAMPLE ASSUMES THAT YOU INVEST $10,000 IN AN "ALL RIDER" CONTRACT
WITH THE FOLLOWING OPTIONAL BENEFIT RIDERS: WAIVER OF WITHDRAWAL CHARGE RIDER,
ENHANCED DEATH BENEFIT RIDER, EARNINGS ENHANCEMENT DEATH BENEFIT RIDER,
ACCUMULATED VALUE ENHANCEMENT RIDER AND GUARANTEED RETIREMENT INCOME BENEFIT
RIDER. THE FIRST EXAMPLE ALSO ASSUMES THAT YOUR INVESTMENT HAS A 5% RETURN EACH
YEAR AND ASSUMES THE MAXIMUM ANNUAL CONTACT FEE AND THE MAXIMUM FEES AND
EXPENSES OF ANY OF THE FUNDS. ALTHOUGH YOUR ACTUAL COSTS MAY BE HIGHER OR LOWER,
BASED ON THESE ASSUMPTIONS, YOUR COSTS WOULD BE:

Revolution Extra - maximum fund-level total operating expenses
- --------------------------------------------------------------

1 YEAR 3 YEARS 5 YEARS 10 YEARS
- --------------------------------------------------------------------------------------------------------

(1) IF YOU SURRENDER YOUR ALL RIDER CONTRACT AT THE END OF
THE APPLICABLE TIME PERIOD: $ 1045 $ 2240 $ 3323 $ 5612
- --------------------------------------------------------------------------------------------------------
(2) IF YOU ANNUITIZE YOUR ALL RIDER CONTRACT AT THE END OF
THE APPLICABLE TIME PERIOD: $ 415 $ 1610 $ 2782 $ 5612
- --------------------------------------------------------------------------------------------------------
(3) IF YOU DO NOT SURRENDER YOUR ALL RIDER CONTRACT: $ 415 $ 1610 $ 2782 $ 5612
- --------------------------------------------------------------------------------------------------------

ALTHOUGH YOUR ACTUAL COSTS MAY BE HIGHER OR LOWER, BASED ON THESE ASSUMPTIONS,
YOUR COSTS WOULD BE:

Revolution Extra - minimum fund-level total operating expenses
- --------------------------------------------------------------

1 YEAR 3 YEARS 5 YEARS 10 YEARS
- --------------------------------------------------------------------------------------------------------

- --------------------------------------------------------------------------------------------------------
(1) IF YOU SURRENDER YOUR NO RIDER CONTRACT AT THE END OF
THE APPLICABLE TIME PERIOD: $ 783 $ 1104 $ 1330 $ 1791
- --------------------------------------------------------------------------------------------------------
(2) IF YOU ANNUITIZE YOUR NO RIDER CONTRACT AT THE END OF
THE APPLICABLE TIME PERIOD: $ 153 $ 474 $ 818 $ 1791
- --------------------------------------------------------------------------------------------------------
(3) IF YOU DO NOT SURRENDER YOUR NO RIDER CONTRACT: $ 153 $ 474 $ 818 $ 1791
- --------------------------------------------------------------------------------------------------------

BASIC INFORMATION

This "Basic Information" section provides answers to commonly asked questions
about the contract. Here are the page numbers where the questions and answers
appear:

QUESTION STARTING ON PAGE

What is the contract?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Who owns the contract? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Is the owner also the annuitant? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
How can I invest money in a contract?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
How will the value of my investment in the contract change over time?. . . . . . . . . . . . . . 12
What annuity benefits does the contract provide? . . . . . . . . . . . . . . . . . . . . . . . . 13
To what extent can JHVLICO vary the terms and conditions of its contracts? . . . . . . . . . . . 13
What are the tax consequences of owning a contract?. . . . . . . . . . . . . . . . . . . . . . . 13
How can I change my contract's investment allocations? . . . . . . . . . . . . . . . . . . . . . 14
What fees and charges will be deducted from my contract? . . . . . . . . . . . . . . . . . . . . 16
How can I withdraw money from my contract? . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
What happens if the owner or the annuitant dies before my contract's date of maturity? . . . . . 19
What other benefits can I purchase under a contract? . . . . . . . . . . . . . . . . . . . . . . 22
Can I return my contract?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
What additional guarantee applies to the guarantee periods under my contract?. . . . . . . . . . 24
What are the terms of the additional guarantee?. . . . . . . . . . . . . . . . . . . . . . . . . 24

WHAT IS THE CONTRACT?

The contract is a deferred payment variable annuity contract. An "annuity
contract" provides a person (known as the "annuitant" or "payee") with a series
of periodic payments. Because this contract is also a "deferred payment"
contract, the "annuity payments" will begin on a future date, called the
contract's "date of maturity." Under a "variable annuity" contract, the amount
you have invested can increase or decrease in value daily based upon the value
of the variable investment options chosen. If your annuity is provided under a
master group contract, the term "contract" as used in this prospectus refers to
the certificate you will be issued and not to the master group contract.

WHO OWNS THE CONTRACT?

IS THE OWNER ALSO THE ANNUITANT?

HOW CAN I INVEST MONEY IN A CONTRACT?

Premium payments

We call the investments you make in your contract premiums or premium
payments. In general, you need at least a $10,000 initial premium payment to
purchase a contract. If you purchase your contract under any of the
tax-qualified plans shown on page 27 or if you purchase your contract through
the automatic investment plan, different minimums may apply. If you choose to
contribute more money into your contract, each subsequent premium payment must
be at least $200 ($100 for the annuity direct deposit program). If your
contract's total value ever falls to zero, we may terminate it. Therefore, you
may need to pay more premiums to keep the contract in force.

Applying for a contract

We measure the years and anniversaries of your contract from its date of
issue. We use the term contract year to refer to each period of time between
anniversaries of your contract's date of issue.

Limits on premium payments

YOU MAY NOT MAKE ANY PREMIUM
PAYMENTS AFTER THE ANNUITANT
IF YOUR CONTRACT IS USED TO FUND REACHES AGE
- -----------------------------------------------------------------------------
a "tax qualified plan"* 70 1/2**
- -----------------------------------------------------------------------------
a non-tax qualified plan 85
- -----------------------------------------------------------------------------

* as that term is used in "Tax Information," beginning on page 35.
** except for a Roth IRA, which has no age limit.

We will not issue a contract if any proposed annuitant or owner is older than
age 84. We may, however, waive this underwriting limit.

Ways to make premium payments

Premium payments made by check or money order should be:

.. drawn on a U.S. bank,

.. drawn in U.S. dollars, and

.. made payable to "John Hancock."

We will not accept credit card checks. Nor will we accept starter or third
party checks that fail to meet our administrative requirements.

Premium payments after the initial premium payment should be sent to:

JOHN HANCOCK ANNUITY SUBSEQUENT PAYMENTS, X-4
---------------------------------------------

MAIL DELIVERY
-------------
1 John Hancock Way
Suite 1501
Boston, MA 02117-1501

OVERNIGHT DELIVERY
------------------
529 Main Street
Charleston, MA 02129

- ---------------------------------------------------------------------

We will accept your initial premium payment by exchange from another
insurance company. You can find information about wire payments under "Premium
payments by wire," below. You can find information about other methods of
premium payment by contacting your broker-dealer or by contacting the John
Hancock Annuity Servicing Office.

Once we have issued your contract and it becomes effective, we credit any
additional premiums to your contract at the close of the business day in which
we receive the payment. A business day is any date on which the New York Stock
Exchange is open for regular trading. Each business day ends at the close of
regular trading for the day on that exchange. Usually this is 4:00 p.m., Eastern
time. If we receive an additional premium payment after the close of a business
day, we will credit it to your contract on the next business day.

Premium payments by wire

If your wire order is complete, we will invest the premium payment in your
selected investment options as of the day we received the wire order. If the
wire order is incomplete, we may hold your initial premium payment for up to 5
business days while attempting to obtain the missing information. If we can't
obtain the information within 5 business days, we will immediately return your
premium payment, unless you tell us to hold the premium payment for 5 more days
pending completion of the application. Nevertheless, until we receive and accept
a properly completed and signed application, we will not:

.. issue a contract;

.. accept premium payments; or

.. allow other transactions.

HOW WILL THE VALUE OF MY INVESTMENT IN THE CONTRACT CHANGE OVER TIME?

However, if you prematurely transfer, "surrender" or otherwise withdraw money
from a guarantee period we will increase or reduce the remaining value in your
contract by an amount that approximates the impact that any changes in interest
rates would have had on the market value of a debt instrument with terms
comparable to that guarantee period. This market value adjustment (or "MVA")
imposes investment risks on you. We describe how the market value adjustments
work in "Calculation of market value adjustment ("MVA")" beginning on page 29.

At any time before the date of maturity, the total value of your contract
equals

.. the total amount you invested,

.. plus the amount(s) credited to your contact under the "Extra Credit feature"
described below,

.. minus all charges we deduct,

.. minus all withdrawals you have made,

.. plus or minus any positive or negative MVAs that we have made at the time of
any premature withdrawals or transfers you have made from a guarantee
period,

.. plus or minus each variable investment option's positive or negative
investment return that we credit daily to any of your contract's value while
it is in that option, and

.. plus the interest we credit to any of your contract's value while it is in a
guarantee period.

Extra Credit feature

Each time you make a premium payment, we will credit an extra amount to the
total value of your contract in addition to the amount of the premium payment.
If your premium payment is greater than $10,000 and less than $2.5 million, the
extra amount will be equal to 3.5% of the premium payment. If your premium
payment is $2.5 million or more, the extra amount will be equal to 5.0% of the
premium payment. These extra amounts are referred to as extra credits. Each
extra credit will be credited to your contract at the same time the premium
payment is credited and will be allocated among the variable investment options
and the guarantee periods in the same way that the premium payment is allocated
(see "Allocation of premium payments" on page 14). However, each extra credit
will be treated for all purposes as "earnings" under your contract, not as a
premium payment.

WE ANTICIPATE THAT A PORTION OF THE WITHDRAWAL CHARGE, AND ANY PROFITS DERIVED
FROM OTHER CONTRACT FEES AND CHARGES, WILL BE USED TO HELP RECOVER OUR COST OF
PROVIDING THE EXTRA CREDIT FEATURE. (FOR A DESCRIPTION OF THESE FEES AND
CHARGES, SEE THE RESPONSE TO THE QUESTION "WHAT FEES AND CHARGES WILL BE
DEDUCTED FROM MY CONTRACT?") UNDER CERTAIN CIRCUMSTANCES (SUCH AS A WITHDRAWAL
OF MONEY THAT IS IN EXCESS OF THE FREE WITHDRAWAL AMOUNTS, WHILE A WITHDRAWAL
CHARGE IS IN EFFECT) THE COST ASSOCIATED WITH THE EXTRA CREDIT FEATURE MAY
EXCEED THE EXTRA CREDIT AMOUNT AND ANY RELATED EARNINGS. YOU SHOULD CONSIDER
THIS POSSIBILITY BEFORE PURCHASING THE CONTRACT.

WHAT ANNUITY BENEFITS DOES THE CONTRACT PROVIDE?

You should carefully review the discussion under "The annuity period,"
beginning on page 31, for information about all of these choices you can make.

TO WHAT EXTENT CAN JHVLICO VARY THE TERMS AND CONDITIONS OF ITS CONTRACTS?

State law insurance requirements

Variations in charges or rates

WHAT ARE THE TAX CONSEQUENCES OF OWNING A CONTRACT?

.. partial withdrawal (including systematic withdrawals),

.. full withdrawal ("surrender"),

.. payment of any death benefit proceeds, and

.. periodic payments under one of our annuity payment options.

How much you will be taxed on a distribution is based upon complex tax rules
and depends on matters such as

.. the type of the distribution,

.. when the distribution is made,

.. the nature of any tax qualified retirement plan for which the contract is
being used, if any, and

.. the circumstances under which the payments are made.

If your contract is issued in connection with a tax-qualified retirement plan,
all or part of your premium payments may be tax-deductible.

HOW CAN I CHANGE MY CONTRACT'S INVESTMENT ALLOCATIONS?

Allocation of premium payments

Transferring your assets

Up to 12 times during each year of your contract, you may transfer, free of
any charge,

.. all or part of the assets held in one VARIABLE INVESTMENT OPTION to any other
available variable investment option or guarantee period, or

.. transfer more than $1,000,000 in a contract year into any one variable
investment option or guarantee period, without our prior approval,

.. make any transfer that would cause you to exceed the above-mentioned maximum
of 18 investment options,

.. make any transfers, during the annuity period, to or from a guarantee period,
or

.. make any transfer during the annuity period that would result in more than
four investment options being used at once.

We reserve the right to prohibit a transfer less than 30 days prior to the
contract's date of maturity.

The contract you are purchasing was not designed for professional market
timing organizations or other persons or entities that use programmed or
frequent transfers. The use of such transfers may be disruptive to a fund. We
reserve the right to reject any premium payment or transfer request from any
person, if in our judgment, a fund would be unable to invest effectively in
accordance with its investment objectives and policies, or would otherwise be
potentially adversely affected.

Procedure for transferring your assets

.. your name,

.. daytime telephone number,

.. contract number,

.. the names of the investment options to and from which assets are being
transferred, and

.. the amount of each transfer.

The request becomes effective on the day we receive your request, in proper
form, at the John Hancock Annuity Servicing Office.

Telephone transfers

Dollar-cost averaging program

You may elect, at no cost, to automatically transfer assets from any variable
investment option to one or more other variable investment options on a monthly,
quarterly, semiannual, or annual basis.

The following conditions apply to the dollar-cost averaging program:

.. You may elect the program only if the total value of your contract equals
$15,000 or more.

.. The amount of each transfer must equal at least $250.

.. You may change your variable investment allocation instructions at any time
in writing or, if you have authorized telephone transfers, by telephone.

.. You may discontinue the program at any time.

.. The program automatically terminates when the variable investment option from
which we are taking the transfers has been exhausted.

.. Automatic transfers to or from guarantee periods are not permitted.

.. We reserve the right to suspend or terminate the program at any time.

Strategic rebalancing

Once elected, strategic rebalancing will continue until we receive notice of
cancellation of the option or notice of the death of the insured person.

The guarantee periods do not participate in and are not affected by strategic
rebalancing. We reserve the right to modify, terminate or suspend the strategic
rebalancing program at any time.

WHAT FEES AND CHARGES WILL BE DEDUCTED FROM MY CONTRACT?

Asset-based charge

Annual contract fee

Premium taxes

We make deductions for any applicable premium or similar taxes based on the
amount of a premium payment. Currently, certain local jurisdictions assess a tax
of up to 5% of each premium payment.

Withdrawal charge

If you withdraw some of your premiums from your contract prior to the date of
maturity ("partial withdrawal") or if you surrender (turn in) your contract, in
its entirety, for cash prior to the date of maturity ("total withdrawal" or
"surrender"), we may assess a withdrawal charge. Some people refer to this
charge as a "contingent deferred sales load." We use this charge to help defray
expenses relating to the Extra Credit feature and to sales of the contracts,
including commissions paid and other distribution costs.

Free withdrawal amounts

If you have any profit in your contract, you can always withdraw that profit
without any withdrawal charge. By "profit," we mean the amount by which your
contract's total value exceeds the premiums you have paid and have not (as
discussed below) already withdrawn. If your contract doesn't have any profit (or
you have withdrawn it all) you can still make charge-free withdrawals, unless
and until all of your withdrawals during the same contract year exceed 10% of
all of the premiums you have paid to date.

How we determine and deduct the charge

If the amount you withdraw or surrender totals more than the free withdrawal
amount during the contract year, we will assess a withdrawal charge shown in the
Fee Tables on any amount of the excess that we attribute to premium payments you
made within a withdrawal charge period. Solely for purposes of determining the
amount of the withdrawal charge, we assume that the amount of each withdrawal
that exceeds the free withdrawal amount (together with any associated withdrawal
charge) is a withdrawal first from the earliest premium payment, and then from
the next earliest premium payment, and so forth until all payments have been
exhausted. Once a premium payment has been considered to have been "withdrawn"
under these procedures, that premium payment will not enter into any future
withdrawal charge calculations.

We deduct the withdrawal charge proportionally from each variable investment
option and each guarantee period being reduced by the surrender or withdrawal.
For example, if 60% of the withdrawal amount comes from a Growth option and 40%
from the Money Market option, then we will deduct 60% of the withdrawal charge
from the Growth option and 40% from the Money Market option. If any such option
has insufficient remaining value to cover the charge, we will deduct any
shortfall from all of your other investment options, pro-rata based on the value
in each. If your contract as a whole has insufficient surrender value to pay the
entire charge, we will pay you no more than the surrender value.

You will find examples of how we compute the withdrawal charge in Appendix B
to this prospectus.

When withdrawal charges don't apply

We don't assess a withdrawal charge in the following situations:

.. on amounts applied to an annuity option at the contract's date of maturity or
to pay a death benefit;

.. on certain withdrawals if you have elected the rider that waives the
withdrawal charge; and

.. on amounts withdrawn to satisfy the minimum distribution requirements for tax
qualified plans. (Amounts above the minimum distribution requirements are
subject to any applicable withdrawal charge, however.)

How an MVA affects the withdrawal charge

If you make a withdrawal from a guarantee period at a time when the related
MVA results in an upward adjustment in your remaining value, we will calculate
the withdrawal charge as if you had withdrawn that much more. Similarly, if the
MVA results in a downward adjustment, we will compute any withdrawal charge as
if you had withdrawn that much less.

Other charges

We deduct the optional benefit rider charges shown in the Fee Tables
proportionally from each of your investment options, including the guarantee
periods, based on your value in each.

HOW CAN I WITHDRAW MONEY FROM MY CONTRACT?

Surrenders and partial withdrawals

Prior to your contract's date of maturity, if the annuitant is living, you
may:

.. surrender your contract for a cash payment of its "surrender value," or

.. make a partial withdrawal of the surrender value.

The surrender value of a contract is the total value of a contract, after any
market value adjustment, minus the annual contract fee, any applicable premium
tax, any withdrawal charges, and any applicable rider charges. We will determine
the amount surrendered or withdrawn as of the date we receive your request in
proper form at the John Hancock Annuity Servicing Office.

Certain surrenders and withdrawals may result in taxable income to you or
other tax consequences as described under "Tax information," beginning on page
35. Among other things, if you make a full surrender or partial withdrawal from
your contract before you reach age 59 1/2, an additional federal penalty of 10%
generally applies to any taxable portion of the withdrawal.

We will deduct any partial withdrawal proportionally from each of your
investment options based on the value in each, unless you direct otherwise.

Without our prior approval, you may not make a partial withdrawal:

.. for an amount less than $100, or

.. if the remaining total value of your contract would be less than $1,000.

We reserve the right to terminate your contract if the value of your contract
becomes zero.

You generally may not make any surrenders or partial withdrawals once we begin
making payments under an annuity option.

Waiver of withdrawal charge rider

You may purchase an optional waiver of withdrawal charge rider at the time of
application. The "covered persons" under the rider are the owner and the owner's
spouse, unless the owner is a trust. If the owner is a trust, the "covered
persons" are the annuitant and the annuitant's spouse. Under this rider, we will
waive the withdrawal charges on any withdrawals, if all of the following
conditions apply:

.. a covered person become confined to a nursing home beginning at least 30 days
after we issue your contract;

.. such covered person remains in the nursing home for at least 90 consecutive
days receiving nursing care; and

.. the covered person's confinement is prescribed by a doctor and medically
necessary because of a covered physical or mental impairment.

In addition, depending on your state, the rider may also provide for a waiver
of withdrawal charges if a covered person has been diagnosed with a chronic,
critical or terminal illness to the extent so provided in the rider.

You may not purchase this rider: (1) if either of the covered persons is older
than 74 years at application or (2) in most states, if either of the covered
persons was confined to a nursing home within the past two years.

There is a charge for this rider as shown in the Fee Tables. This rider (and
the related charges) will terminate on the contract's date of maturity, upon
your surrendering the contract, or upon your written request that we terminate
it.

For a more complete description of the terms and conditions of this benefit,
you should refer directly to the rider. We will provide you with a copy on
request. In certain marketing materials, this rider may be referred to as
"CARESolutions."

If you purchase this rider:

.. you and your immediate family will also have access to a national program
designed to help the elderly maintain their independent living by providing
advice about an array of eldercare services available to seniors, AND

.. you will have access to a list of long-term care providers in your area who
provide special discounts to persons who belong to the national program.

You should carefully review the tax considerations for optional benefit riders
on page 35 before selecting this optional benefit rider.

Systematic withdrawal plan

Our optional systematic withdrawal plan enables you to preauthorize periodic
withdrawals. If you elect this plan, we will withdraw a percentage or dollar
amount from your contract on a monthly, quarterly, semiannual, or annual basis,
based upon your instructions. Unless otherwise directed, we will deduct the
requested amount from each applicable investment option in the ratio that the
value of each bears to the total value of your contract. Each systematic
withdrawal is subject to any withdrawal charge or market value adjustment that
would apply to an otherwise comparable non-systematic withdrawal. See "How will
the value of my investment in the contract change over time?" beginning on page
12, and "What fees and charges will be deducted from my contract?" beginning on
page 16. The same tax consequences also generally will apply.

The following conditions apply to systematic withdrawal plans:

.. You may elect the plan only if the total value of your contract equals
$25,000 or more.

.. The amount of each systematic withdrawal must equal at least $100.

.. If the amount of each withdrawal drops below $100 or the total value of your
contract becomes less that $5,000, we will suspend the plan and notify you.

.. You may cancel the plan at any time.

.. We reserve the right to modify the terms or conditions of the plan at any
time without prior notice.

WHAT HAPPENS IF THE OWNER OR THE ANNUITANT DIES BEFORE MY CONTRACT'S DATE OF
MATURITY?

We will pay a death benefit to the contract's beneficiary, depending on the
form of ownership and whether there is one annuitant or joint annuitants:

.. If your contract is owned by a single natural person and has a single
annuitant, the death benefit is payable on the earlier of the owner's death
and the annuitant's death.

.If your contract is owned by joint owners and has joint annuitants, the death
benefit is payable on the earliest of the first owner's death (whether or not
the owner is also an annuitant) and the last annuitant's death.

We calculate the death benefit value as of the day we receive, in proper order
at the John Hancock Annuity Servicing Office:

.. proof of death before the contract's date of maturity, and

.. any required instructions as to method of settlement.

We will generally pay the death benefit in a single sum to the beneficiary you
chose, unless

Standard death benefit

We will pay a "standard" death benefit, unless you have chosen one of our
optional death benefit riders. (We describe these riders below. If you choose
one of these riders, we calculate the death benefit under the terms of the
rider.) The standard death benefit we pay is the greater of:

.. the total value of your contract, adjusted by any then-applicable market
value adjustment, on the date we receive notice of death in proper order, or

.. the total amount of premium payments made (plus extra credits), less any
partial withdrawals.

Optional death benefit riders

You may elect a death benefit that differs from the standard death benefit by
purchasing an optional death benefit rider:

.. only if the rider is available in your state;

.. only when you apply for the contract;

.. if you elect the Enhanced Death Benefit rider, only if each owner and each
annuitant is under age 80 at the time you apply for the contract; and

.. if your elect the Earnings Enhancement Death Benefit rider, only if each
owner and each annuitant is under age 75 at the time you apply for the
contract.

We may waive either or both of the last two restrictions for contracts
purchased prior to the date a rider was available in your state.

As long as an optional death benefit rider is in effect, you will pay the
monthly charge shown in the Fee Tables for that benefit. The rider and its
related charges terminates on:

.. the contract's date of maturity, or

.. upon your surrendering the contract, or

ENHANCED DEATH BENEFIT rider - under this rider, we will pay the greatest of:

(1) the standard death benefit,

(2) the amount of each premium you have paid (but not including any exta
credits), accumulated at 5% effective annual interest during the rider's
measuring period (less any partial withdrawals you have taken and not
including any interest on such amounts after they are withdrawn); or

(3) the highest total value of your contract (adjusted by any market value
adjustment) as of any anniversary of your contract during the rider's
measuring period, plus any premium payments you have made
since that anniversary, minus any withdrawals you have taken since
that anniversary.

.. the owner, if there is only one owner under your contract and the death
benefit is payable because the owner dies before the Maturity Date,

.. the oldest owner, if there are joint owners under your contract and the death
benefit is payable because either owner dies before the Maturity Date,

.. the annuitant, if there is only one annuitant under your contract and the
death benefit is payable because the annuitant dies before the Maturity Date,

If an owner is also an annuitant, we will generally consider that person to be
an "owner" instead of an "annuitant" for purposes of determining the rider's
measuring life.

For a more complete description of the terms and conditions of this benefit,
you should refer directly to the rider. We will provide you with a copy on
request.

You should carefully review the tax considerations for optional benefit riders
on page 35 before selecting this optional benefit rider.

The earnings enhancement amount is determined as follows:

.. if there are joint annuitants under your contract, we will not count the age
of the older annuitant for either of these purposes unless the older annuitant
is also an owner.

withdrawals to be taken first from earnings on your contract before they are
taken from your purchase payments. "Adjusted Net Premiums" means Net Premiums
minus any premiums you paid in the 12 month period prior to the decedent's death
(excluding the initial premium).

For a more complete description of the terms and conditions of this benefit,
you should refer directly to the rider. We will provide you with a copy on
request.

YOU SHOULD CAREFULLY REVIEW THE TAX CONSIDERATIONS FOR OPTIONAL BENEFIT RIDERS
ON PAGE 35 BEFORE SELECTING ANY OF THESE OPTIONAL DEATH BENEFIT RIDERS. THE
DEATH BENEFITS UNDER THESE RIDERS WILL DECREASE IF YOU MAKE PARTIAL WITHDRAWALS
UNDER YOUR CONTRACT. THE ENHANCED EARNINGS DEATH BENEFIT RIDER MAY NOT BE
APPROPRIATE FOR YOU IF YOU EXPECT TO WITHDRAW EARNINGS.

WHAT OTHER BENEFITS CAN I PURCHASE UNDER A CONTRACT?

In addition to the optional death benefit and waiver of withdrawal charge
riders discussed above, we currently make available two other optional benefits
if your state permits and if you are under age 75 when you apply for a contract.
These optional benefits are provided under riders that contain many terms and
conditions not set forth below. Therefore, you should refer directly to each
rider for more complete information. We will provide you with a copy on request.
We may make other riders available in the future.

ACCUMULATED VALUE ENHANCEMENT rider- under this rider, we will make a
contribution to the total value of the contract on a monthly basis if the
covered person (who must be an owner and the annuitant):

.. is unable to perform at least 2 activities of daily living without human
assistance or has a cognitive impairment, AND

.. is receiving certain qualified services described in the rider.

You cannot elect this rider unless you have also elected the waiver of
withdrawal charge rider. There is a monthly charge for this rider as described
in the Fee Tables.

The rider will terminate if the contract terminates, if the covered person
dies, if the benefit limit is reached, if the owner is the covered person and
the ownership of the contract changes, or if, before annuity payments start, the
total value of the contract falls below an amount equal to 25% of your initial
premium payment. You may cancel the rider by written notice at any time. The
rider charge will terminate when the rider terminates.

You should carefully review the tax considerations for optional benefit riders
on page 35 before selecting this optional benefit rider. In certain marketing
materials, this rider may be referred to as "CARESolutions Plus."

GUARANTEED RETIREMENT INCOME BENEFIT rider - under this rider, we will
guarantee the amount of annuity payments you receive, if the following
conditions are satisfied:

.. The date of maturity must be within the 30 day period following a contract
anniversary.

If you do decide to add this rider to your contract, and if you do ultimately
decide to take advantage of the guaranteed income it provides, we will
automatically provide that guaranteed income in the form of fixed payments under
our "Option A: life annuity with payments for guaranteed period" described under
"Annuity options" on page 32. The guaranteed period will automatically be a
number of years that the rider specifies, based on the annuitant's age at the
annuity date and whether your contract is purchased in connection with a
tax-qualified plan. (These specified periods range from 5 to 10 years.) You will
have no discretion to vary this form of payment, if you choose the guaranteed
income benefit under this rider.

We guarantee that the amount you can apply to this annuity payment option will
be at least equal to the amount of each premium you have paid, accumulated at
the rate(s) specified in the contract , but adjusted for any partial withdrawals
you have taken. The accumulation rates differ between (a) contract value
allocated to a guaranteed period or Money Market investment option (currently
4%) and (b) contact value allocated to all other variable investment options
(currently 5%). Withdrawals reduce the accumulated amount in direct proportion
to the percentage of contract value that was reduced by the withdrawal
(including any withdrawal charges). After a withdrawal, the accumulation rate(s)
will only be applied to the remaining accumulated amount. If your total contract
value is higher than the amount we guarantee, we will apply the higher amount to
the annuity payment option instead of the guaranteed amount.

CAN I RETURN MY CONTRACT?

In most cases, you have the right to cancel your contract within 10 days (or
longer in some states) after you receive it. To cancel your contract, simply
deliver or mail it to:

. JHVLICO at the address shown on page 2, or

. the JHVLICO representative who delivered the contract to you.

In most states, you will receive a refund equal to the total value of your
contract on the date of cancellation minus the extra credit deduction (as
defined below), adjusted by any then-applicable market value adjustments and
increased by any charges for premium taxes deducted by us to that date. The
"extra credit deduction" is equal to the lesser of (1) the portion of the total
value of your contract that is attributable to any extra credits and (2) the
amount of all extra credits. Thus, you receive any gain and we bear any loss on
extra credits if you return your contract within the time period specified
above. In some states, or if your contract was issued as an "IRA," you will
receive a refund of any premiums you've paid. The date of cancellation will be
the date we receive the contract.

WHAT ADDITIONAL GUARANTEE APPLIES TO THE GUARANTEE PERIODS UNDER MY CONTRACT?

John Hancock Financial Services, Inc. ("JHFS") guarantees JHVLICO's
obligations with respect to any guarantee periods you have elected under the
contract on the date of this prospectus. JHFS' guarantee will also apply to any
new guarantee periods under your contract, unless and until we notify you
otherwise. (If we give you such notice, however, the JHFS guarantee would remain
in effect for all guarantee periods then had already started, and would be
inapplicable only to guarantee periods starting after the date of such notice.)
The JHFS guarantee does not relieve JHVLICO of any obligations under your
contract - - it is in addition to all of the rights and benefits that the
contract provides. There is no charge or cost to you for the JHFS guarantee, nor
are there any other disadvantages to you of having this additional guarantee.

WHAT ARE THE TERMS OF THE ADDITIONAL GUARANTEE?

ADDITIONAL INFORMATION

This section of the prospectus provides additional information that is not
contained in the Basis Information section on pages 10 through 24.

CONTENTS OF THIS SECTION STARTING ON PAGE

Description of. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
How to find additional information about JHVLICO and JHFS . . . . . . . . . 26
Who should purchase a contract? . . . . . . . . . . . . . . . . . . . . . . 27
How we support the variable investment options. . . . . . . . . . . . . . . 27
How we support the guarantee periods. . . . . . . . . . . . . . . . . . . . 28
How the guarantee periods work. . . . . . . . . . . . . . . . . . . . . . . 28
The accumulation period . . . . . . . . . . . . . . . . . . . . . . . . . . 30
The annuity period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
Variable investment option valuation procedures . . . . . . . . . . . . . . 33
Distributions following death of owner. . . . . . . . . . . . . . . . . . . 34
Miscellaneous provisions. . . . . . . . . . . . . . . . . . . . . . . . . . 34
Tax information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
Performance information . . . . . . . . . . . . . . . . . . . . . . . . . . 42
Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42
Voting privileges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42
Certain changes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43
Distribution of contracts . . . . . . . . . . . . . . . . . . . . . . . . . 43
Experts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44
Registration statement. . . . . . . . . . . . . . . . . . . . . . . . . . . 45
Condensed Financial Information . . . . . . . . . . . . . . . . . . . . . . 46
Appendix A - Details About Our Guarantee Periods. . . . . . . . . . . . . . 50
Appendix B - Example of Withdrawal Charge Calculation . . . . . . . . . . . 53
Appendix C - Examples of Earnings Enhancement Death Benefit Calculation . . 55

DESCRIPTION OF JHVLICO

HOW TO FIND ADDITIONAL INFORMATION ABOUT JHVLICO AND JHFS

These are the following reports and documents, which we "incorporate by
reference" into this prospectus:

.. Form 10-K of JHFS for the year ended December 31, 2002;

.. Form 10-Q of JHFS for the three month period ended March 31, 2003;

.. Form 8-K of JHFS filed on January 9, 2003; and

WHO SHOULD PURCHASE A CONTRACT?

.. traditional individual retirement annuity plans ("Traditional IRAs")
satisfying the requirements of Section 408 of the Code;

.. non-deductible IRA plans ("Roth IRAs") satisfying the requirements of Section
408A of the Code;

.. SIMPLE IRA plans adopted under Section 408(p) of the Code;

.. Simplified Employee Pension plans ("SEPs") adopted under Section 408(k) of
the Code; and

.. annuity purchase plans adopted under Section 403(b) of the Code by public
school systems and certain other tax-exempt organizations.

We do not currently offer the contracts to every type of tax-qualified plan,
and we may not offer the contracts for all types of tax-qualified plans in the
future. In certain circumstances, we may make the contracts available for
purchase under deferred compensation plans maintained by a state or political
subdivision or tax exempt organization under Section 457 of the Code or by
pension or profit-sharing plans qualified under section 401(a) of the Code. We
provide general federal income tax information for contracts purchased in
connection with tax qualified retirement plans beginning on page 37.

HOW WE SUPPORT THE VARIABLE INVESTMENT OPTIONS

The Account's assets, including the Series Funds' shares, belong to JHVLICO.
Each contract provides that amounts we hold in the Account pursuant to the

contracts cannot be reached by any other persons who may have claims against us.

HOW WE SUPPORT THE GUARANTEE PERIODS

HOW THE GUARANTEE PERIODS WORK

.. withdraw all or a portion of any such amount from the contract,

.. allocate all or a portion of such amount to a new guarantee period or periods
of the same or different duration as the expiring guarantee period, or

.. allocate all or a portion of such amount to one or more of the variable
investment options.

We currently make available guarantee periods with durations of five years.
For contracts issued before September 30, 2002, however, we may permit you to
select different durations.

Guaranteed interest rates

We make the final determination of guaranteed rates and guarantee
perioeds to be declared. We cannot predict or assure the level of
any future guaranteed rates or the availability of any future
guarantee periods.

Calculation of market value adjustment ("MVA")

.. death benefits pursuant to your contract,

.. amounts you apply to an annuity option, and

.. amounts paid in a single sum in lieu of an annuity.

. Here is how the MVA works:

We compare:

. the guaranteed rate of the guarantee period from which the assets are
being taken WITH

. the guaranteed rate we are currently offering for guarantee periods of the
same duration as remains on the guarantee period from which the assets
are being taken.

If the first rate exceeds the second by more than 1/2 %, the market value
adjustment produces an increase in your contract's value.

If the first rate does not exceed the second by at least 1/2 %, the market
value adjustment produces a decrease in your contract's value.

For this purpose, we consider that the amount withdrawn from the guarantee
period includes the amount of any negative MVA and is reduced by the amount of
any positive MVA.

The mathematical formula and sample calculations for the market value
adjustment appear in Appendix A.

THE ACCUMULATION PERIOD

Your value in our variable investment options

Each premium payment, extra credit or transfer that you allocate to a variable
investment option purchases accumulation units of that variable investment
option. Similarly, each withdrawal or transfer that you take from a variable
investment option (as well as certain charges that may be allocated to that
option) result in a cancellation of such accumulation units.

Valuation of accumulation units

To determine the number of accumulation units that a specific transaction will
purchase or cancel, we use the following formula:

dollar amount of transaction
DIVIDED BY
value of one accumulation unit for the applicable
variable investment option at the time of such
transaction

Therefore, at any time prior to the date of maturity, the total value of your
contract in a variable investment option can be computed according to the
following formula:

number of accumulation units in the variable
investment options
TIMES
value of one accumulation unit for the applicable
variable investment option at that time

Your value in the guarantee periods

On any date, the total value of your contract in a guarantee period equals:

.. the amount of premium payments, extra credits or transferred amounts
allocated to the guarantee period, MINUS

.. the amount of any withdrawals or transfers paid out of the guarantee period,
MINUS

.. the amount of any negative market value adjustments resulting from such
withdrawals or transfers, plus

.. the amount of any positive market value adjustments resulting from such
withdrawals and transfers, MINUS

.. the amount of any charges and fees deducted from that guarantee period, PLUS

.. interest compounded daily on any amounts in the guarantee period from time to
time at the effective annual rate of interest we have declared for that
guarantee period.

THE ANNUITY PERIOD

Annuity payments are made to the annuitant, if still living. If more than one
annuitant is living at the date of maturity, the payments are made to the
younger of them.

Date of maturity

.. at least 6 months after the date the first premium payment is applied to your
contract, and

.. no later than the maximum age specified in your contract (normally age 95).

Choosing fixed or variable annuity payments

Once annuity payments commence, you may not make transfers from fixed to
variable or from variable to fixed.

Selecting an annuity option

Subject to that $50 minimum limitation, your beneficiary may elect an annuity
option if:

.. you have not made an election prior to the annuitant's death;

.. the beneficiary is entitled to payment of a death benefit of at least $5,000
in a single sum; and

.. the beneficiary notifies us of the election prior to the date the proceeds
become payable.

Variable monthly annuity payments

The amount of each subsequent variable annuity payment under that variable
investment option depends upon the investment performance of that variable
investment option. Here's how it works:

.. if that actual net investment return exceeds the "assumed investment rate"
(explained below), the current monthly payment will be larger than the
previous one.

.. if the actual net investment return is less than the assumed investment rate,
the current monthly payment will be smaller than the previous one.

Assumed investment rate

The assumed investment rate for any variable portion of your annuity payments
will be 3 1/2 % per year, except as follows.

Fixed monthly annuity payments

.. the applicable fixed annuity purchase rate shown in the appropriate table in
the contract; or

.. the rate we currently offer at the time of annuitization. (This current rate
may be based on the sex of the annuitant, unless prohibited by law.)

Annuity options

OPTION B: LIFE ANNUITY WITHOUT FURTHER PAYMENT ON DEATH OF PAYEE - We will
make monthly payments to the payee as long as he or she lives. We guarantee no
minimum number of payments.

With Options A, B, C, and D, we offer both fixed and/or variable annuity
payments. With Options E, F, and G, we offer only fixed annuity payments.

Payments under Options F and G must continue for 10 years, unless your contract
has been in force for 5 years or more.

If the payee is more than 85 years old on the date of maturity, the following
two options are not available without our consent:

.. Option A: "life annuity with 5 years guaranteed" and

.. Option B: "life annuity without further payment on the death of payee."

VARIABLE INVESTMENT OPTION VALUATION PROCEDURES

We compute the net investment return and accumulation unit values for each
variable investment option as of the end of each business day. On any date other
than a business day, the accumulation unit value or annuity unit value will be
the same as the value at the close of the next following business day.

DISTRIBUTIONS FOLLOWING DEATH OF OWNER

IF DEATH BENEFITS ARE PAYABLE UPON YOUR DEATH BEFORE ANNUITY PAYMENTS HAVE
BEGUN:

.. if the contract's designated beneficiary is your surviving spouse, your spouse
may elect to continue the contract in force as the owner. In that case:

(2) your spouse may elect to add or continue any optional death benefit
riders under his or her name, subject to our then current underwriting
standards and the deduction of rider charges at our then current rates.
For purposes of calculating the amount your spouse's Death Benefit, we
will treat the total value of your contract (including any step-up in
value) as the initial premium and the date the rider is added or
continued as the rider's date of issue.

(1) paid out in full within five years of your death or

(2) applied in full towards the purchase of a life annuity on the beneficiary
with payments commencing within one year of your death.

IF YOU DIE ON OR AFTER ANNUITY PAYMENTS HAVE BEGUN:

.. any remaining amount that we owe must be paid out at least as rapidly as under
the method of making annuity payments that is then in use.

The Code imposes very similar distribution requirements on contracts used to
fund tax qualified plans. We provide the required provisions for tax qualified
plans in separate disclosures and endorsements.

Notice of the death of an owner or annuitant should be furnished promptly to
the John Hancock Annuity Servicing Office.

MISCELLANEOUS PROVISIONS

Assignment; change of owner or beneficiary

To qualify for favorable tax treatment, certain contracts can't be sold;
assigned; discounted; or pledged as collateral for a loan, as security for
the performance of an obligation, or for any other purpose, unless the owner is
a trustee under section 401(a) of the Internal Revenue Code.

.. the rights of any assignees of record and

.. certain other conditions referenced in the contract.

An assignment, pledge, or other transfer may be a taxable event. See "Tax
information" below. Therefore, you should consult a competent tax adviser before
taking any such action.

TAX INFORMATION

Our income taxes

We are taxed as a life insurance company under the Internal Revenue Code (the
"Code"). The Account is taxed as part of our operations and is not taxed
separately.

Special Considerations for Optional Benefit Riders

If you have elected an optional death benefit rider, it is our understanding
that the charges relating to these riders are not subject to current taxation.
The Internal Revenue Service ("IRS") might take the position, however, that
each charge associated with the rider is deemed a partial withdrawal from the
contract subject to current income tax to the extent of any gains and, if
applicable, the 10% penalty tax for premature distributions from annuities. We
understand that you are not prevented from adding any of our optional death
benefit riders to your contract if it is issued as an IRA. However, the law is
unclear because IRAs generally may not invest in "life insurance contracts."
Therefore, it is possible that a Contract may be disqualified as an IRA if it
has an optional death benefit rider added to it. If so, you may be subject to
increased taxes.

At present, the IRS has not provided guidance as to the tax effect of adding
an optional Accumulated Value Enhancement rider or the optional Waiver of
Withdrawal Charge rider to an annuity contract. The IRS might take the position
that each charge associated with these riders is deemed a withdrawal from the
contract subject to current income tax to the extent of any gains and, if
applicable, the 10% penalty tax for premature withdrawals.

Contracts not purchased to fund a tax qualified plan

Undistributed gains

Annuity payments

generally, the formula seeks to allocate an appropriate amount of the investment
in the contract to each payment. After the entire "investment in the contract"
has been distributed, any remaining payment is fully taxable.

Surrenders, withdrawals and death benefits

All or part of any death benefit proceeds may constitute a taxable payout of
earnings. A death benefit payment generally results in taxable ordinary income
to the extent such payment exceeds your "investment in the contract." Under the
Code, an annuity must provide for certain required distributions. For example,
if the owner dies on or after the maturity date, and before the entire annuity
value has been paid, the remaining value must be distributed at least as rapidly
as under the method of distribution being used at the date of the owner's death.
We discuss other distribution requirements in the preceding section entitled
"Distribution following death of owner."

Penalty for premature withdrawals

Puerto Rico annuity contracts not purchased to fund a tax qualified plan

Diversification requirements

variable investment options. This could cause you to be taxed as if you were the
direct owner of your allocable portion of fund shares. We reserve the right to
amend the contracts or the choice of investment options to avoid, if possible,
current taxation to the owners.

Contracts purchased for a tax qualified plan

Tax-free rollovers

For tax years beginning in 2002, if permitted under your plans, you may make
a tax-free rollover from:

.. a traditional IRA to another traditional IRA,

.. a traditional IRA to another tax-qualified plan, including a Section 403(b)
plan

.. any tax-qualified plan (other than a Section 457 deferred compensation plan
maintained by a tax-exempt organization) to a traditional IRA,

.. a Section 457 deferred compensation plan maintained by a tax-exempt
organization to another Section 457 deferred compensation plan maintained by a
tax-exempt organization and

.. a traditional IRA to a Roth IRA, subject to special restrictions discussed
below.

Traditional IRAs

.. 100% of compensation includable in your gross income, or

Deductibility of contributions. You may be entitled to a full deduction, a
partial deduction or no deduction for your traditional IRA contribution on your
federal income tax return.

The amount of your deduction is based on the following factors:

.. whether you or your spouse is an active participant in an employer sponsored
retirement plan,

.. your federal income tax filing status, and

.. your "Modified Adjusted Gross Income."

The tax law requires that annuity payments under a traditional IRA contract
begin no later than April 1 of the year following the year in which the owner
attains age 70 1/2.

Roth IRAs

Distributions. If you hold your Roth IRA for at least five years the payee
will not owe any federal income taxes or early withdrawal penalties on amounts
paid out from the contract:

.. after you reach age 59 1/2,

.. on your death or disability, or

.. to qualified first-time home buyers (not to exceed a lifetime limitation of
$10,000) as specified in the Code.

the amount of your contributions is taxable to you as ordinary income and
possibly subject to the 10% penalty tax (unless certain exceptions apply as
specified in Code section 72(t).

Conversion to a Roth IRA. You can convert a traditional IRA to a Roth IRA,
unless

.. you have adjusted gross income over $100,000, or

.. you are a married taxpayer filing a separate return.

The Roth IRA annual contribution limit does not apply to converted amounts.

SIMPLE IRA plans

Simplified Employee Pension plans (SEPs)

Section 403(b) plans

.. on the employee's separation from service, death, or disability,

.. with respect to distributions of assets held under a 403(b) contract as of
December 31, 1988, and

.. transfers and exchanges to other products that qualify under Section 403(b).

Minimum distributions under a 403(b) contract must begin no later than April 1
of the year following the year in which the employee reaches age 70 1/2 or, if
later, retires

Pension and profit sharing plans qualified under Section 401(a)

Annuity payments (or other payments, such as upon withdrawal, death or
surrender) generally constitute taxable income to the payee; and the payee must
pay income tax on the amount by which a payment exceeds its allocable share of
the employee's "investment in the contract" (as defined in the Code), if any. In
general, an employee's "investment in the contract" equals the aggregate
amount of premium payments made by the employee.

"Top-heavy" plans

Section 457 deferred compensation plans

Under the provisions of Section 457 of the Code, you can exclude a portion of
your compensation from gross income if you participate in a deferred
compensation plan maintained by:

.. a state,

.. a political subdivision of a state,

..an agency or instrumentality or a state or political subdivision of a state,
or

.. a tax-exempt organization.

The deferred compensation plan must satisfy several conditions, including the
following:

.. the plan must not permit distributions prior to your separation from service
(except in the case of an unforeseen emergency), and

.. all compensation deferred under the plan shall remain solely the employer's
property and may be subject to the claims of its creditors.

Elective Deferral Limits

A participant in a Section 403(b) plan, a Section 457 Plan or in certain other
types of tax-qualified pension and profit sharing plans that are commonly
referred to as "401(k)" plans and "SARSEPS" may elect annually to defer current
compensation so that it can be contributed to the applicable plan or plans. The
annual elective deferral limit is $11,000 for tax years beginning in 2002,
$12,000 for 2003, $13,000 for 2004, $14,000 for 2005 and $15,000 for 2006. After
that, for the tax years beginning in 2007, 2008 and 2009, the annual elective
deferral limit is indexed for inflation in $500 increments as provided in the
Code.

Elective Catch-up Limits

A participant in a Section 403(b) plan, a Section 457 Plan or in certain other
types of tax-qualified pension and profit sharing plans that are commonly
referred to as "401(k)" plans and "SARSEPS" who is age 50 or older may increase
contributions by an amount up to $1,000 for tax years beginning in 2002, $2,000
for 2003, $3,000 for 2004, $4,000 for 2005 and $5,000 for 2006. After that, for
the tax years beginning in 2007, the elective catch-up contribution limit is
indexed for inflation in $500 increments as provided in the Code.

Withholding on rollover distributions

Puerto Rico annuity contracts purchased to fund a tax-qualified plan

The provisions of the tax laws of Puerto Rico vary significantly from those
under the Internal Revenue Code of the United States with respect to the various
"tax qualified" plans described above. Although we may offer variable annuity
contracts in Puerto Rico in connection with "tax qualified" plans, the text of
the prospectus under the subsection "Contracts purchased for a tax qualified
plan" is inapplicable in Puerto Rico and should be disregarded.

See your own tax adviser

The above description of Federal income tax consequences to owners of and
payees under contracts, and of the different kinds of tax qualified plans which
may be funded by the contracts, is only a brief summary and is not intended as
tax advice. The rules under the Code governing tax qualified plans are extremely
complex and often difficult to understand. Changes to

the tax laws may be enforced retroactively. Anything less than full compliance
with the applicable rules, all of which are subject to change from time to time,
can have adverse tax consequences. The taxation of an annuitant or other payee
has become so complex and confusing that great care must be taken to avoid
pitfalls. For further information you should consult a qualified tax adviser.

PERFORMANCE INFORMATION

Total return at the Account level is the percentage change between:

.. the value of a hypothetical investment in a variable investment option at the
beginning of the relevant period, and

.. the value at the end of such period.

At the Account level, total return reflects adjustments for:

.. the mortality and expense risk charges,

.. the annual contract fee, and

.. any withdrawal charge payable if the owner surrenders his contract at the end
of the relevant period.

We may also advertise total return in a non-standard format in conjunction
with the standard format described above. The non-standard format is generally
the same as the standard format except that it will not reflect any contract fee
or withdrawal charge and it may be for additional durations.

Current yield and effective yield reflect all the recurring charges at the
Account level, but will not reflect any contract fee, any premium tax, any
withdrawal charge, or any charge for optional benefit riders.

REPORTS

At least annually, we will send you (1) a report showing the number and value
of the accumulation units in your contract and (2) the financial statements of
the Series Funds.

VOTING PRIVILEGES

At meetings of the Series Funds' shareholders, we will generally vote all the
shares of each fund that we hold in the Account in accordance with instructions
we receive from the owners of contracts that participate in the corresponding
variable investment option.

CERTAIN CHANGES

Changes to the Account

We reserve the right, subject to applicable law, including any required
shareholder approval,

.. to add or delete variable investment options,

.. to change the underlying investment vehicles,

.. to operate the Account in any form permitted by law, and

.. to terminate the Account's registration under the 1940 Act, if such
registration should no longer be legally required.

Unless otherwise required under applicable laws and regulations, notice to or
approval of owners will not be necessary for us to make such changes.

Variations in charges or rates for eligible classes

The entitlement to such variation in charges or rates will be determined by us
based upon such factors as the following:

.. the size of the initial premium payment,

.. the size of the group or class,

.. the total amount of premium payments expected to be received from the group
or class and the manner in which the premium payments are remitted,

.. the purpose for which the contracts are being purchased and whether that
purpose makes it likely that the costs and expenses will be reduced, or

.. the level of commissions paid to selling broker-dealers or certain financial
institutions with respect to contracts within the same group or class.

DISTRIBUTION OF CONTRACTS

Signator Investors, Inc. ("Signator") acts as principal distributor of the
contracts sold through this prospectus. Signator is registered as a
broker-dealer under the Securities Exchange Act of 1934, and a member of the
National Association of Securities Dealers, Inc. Signator's address is 197
Clarendon Street, Boston, Massachusetts 02116. Signator is a subsidiary of John
Hancock.

compensation to their registered representatives, under their own arrangements.
Signator will also pay its own registered representatives for sales of the
contracts to their customers. We do not expect the compensation we pay to such
broker-dealers (including Signator) and financial institutions to exceed 8.0% of
premium payments (on a present value basis) for sales of the contracts described
in this prospectus. For limited periods of time, we may pay additional
compensation to broker-dealers as part of special sales promotions. We offer
these contracts on a continuous basis, but neither JHVLICO nor Signator is
obligated to sell any particular amount of contracts. We also reimburse Signator
for direct and indirect expenses actually incurred in connection with the
marketing of these contracts.

EXPERTS

REGISTRATION STATEMENT

This prospectus omits certain information contained in the registration
statement that we filed with the SEC. You can get more details from the SEC upon
payment of prescribed fees or through the SEC's internet web site (www.sec.gov).

Among other things, the registration statement contains a "Statement of
Additional Information" that we will send you without charge upon request. The
Table of Contents of the Statement of Additional Information lists the following
subjects that it covers:

page of SAI

DISTRIBUTION. . . . . . . . . . . . . . . . . . . . . . . . . 2
CALCULATION OF PERFORMANCE DATA. . . . . . . . . . . . . . . 2
OTHER PERFORMANCE INFORMATION. . . . . . . . . . . . . . . . 16
CALCULATION OF ANNUITY PAYMENTS. . . . . . . . . . . . . . . 16
ADDITIONAL INFORMATION ABOUT DETERMINING UNIT VALUES . . . . 18
PURCHASES AND REDEMPTIONS OF FUND SHARES . . . . . . . . . . 19
THE ACCOUNT. . . . . . . . . . . . . . . . . . . . . . . . . 19
DELAY OF CERTAIN PAYMENTS . . . . . . . . . . . . . . . . . 20
LIABILITY FOR TELEPHONE TRANSFERS. . . . . . . . . . . . . . 20
VOTING PRIVILEGES. . . . . . . . . . . . . . . . . . . . . . 21
FINANCIAL STATEMENTS . . . . . . . . . . . . . . . . . . . . 22

CONDENSED FINANCIAL INFORMATION

JOHN HANCOCK VARIABLE ANNUITY ACCOUNT JF

The following table provides selected data for Revolution accumulation shares
for each investment option that was available during the period shown.

Revolution commenced operations on August 10, 1999.

Period from
Year Ended Year Ended Year Ended August 10, 1999
December 31, December 31, December 31, to December 31,
2002 2001 2000 1999
------------ ------------ ------------ ----------------

EQUITY INDEX
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $17.58 $20.22 $22.54 $10.00
End of period . . . . . . . . . . . . . . . . . . $13.49 $17.58 $20.22 $22.54
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 154,223 804,600 507,320 76,098

LARGE CAP VALUE
Accumulation share value:
Beginning of period (Note 3). . . . . . . . . . . . $11.38 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . $9.75 $11.38 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 97,450 334,667 -- --

LARGE CAP VALUE CORE/SM/
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . $10.07 $10.71 $10.31 $10.00
End of period . . . . . . . . . . . . . . . . . . $8.13 $10.07 $10.71 $10.31
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 195,857 1,056,790 520,128 92,493

LARGE CAP GROWTH
Accumulation share value:
Beginning of period (Note 3) . . . . . . . . . . . $8.13 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . $5.79 $8.13 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 20,683 77,662 -- --

LARGE CAP AGGRESSIVE GROWTH
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $8.09 $9.60 $11.97 $10.00
End of period . . . . . . . . . . . . . . . . . . $5.48 $8.09 $9.60 $11.97
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 322,673 1,205,414 1,040,129 178,388

GROWTH & INCOME
Accumulation share value:
Beginning of period (Note 2) . . . . . . . . . . $7.36 $8.82 $10.00 --
End of period . . . . . . . . . . . . . . . . . . $5.66 $7.36 $8.82 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 416,961 1,817,947 12,749 --

FUNDAMENTAL VALUE
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $10.73 $11.68 $10.43 $10.00
End of period . . . . . . . . . . . . . . . . . . $8.75 $10.73 $11.68 $10.43
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 177,846 802,605 347,760 64,904

EARNINGS GROWTH
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . $4.43 $7.11 $10.00 --
End of period . . . . . . . . . . . . . . . . . . $2.96 $4.43 $7.11 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 239,167 1,636,323 629,910 --

FUNDAMENTAL GROWTH
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $9.86 $14.74 $15.39 $10.00
End of period . . . . . . . . . . . . . . . . . . $6.79 $9.86 $14.74 $15.39
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 123,943 589,572 525,081 38,912

SMALL/MID CAP CORE/SM/
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $13.06 $13.16 $12.73 $11.00
End of period . . . . . . . . . . . . . . . . . . $10.94 $13.06 $13.16 $12.73
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 67,848 220,092 114,891 9,532

Period from
Year Ended Year Ended Year Ended August 10, 1999
December 31, December 31, December 31, to December 31,
2002 2001 2000 1999
------------ ------------ ------------ ----------------

SMALL/MID CAP GROWTH
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $20.79 $20.47 $18.98 $18.07
End of period . . . . . . . . . . . . . . . . . . $16.19 $20.79 $20.47 $18.98
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 57,788 242,085 136,439 14,779

SMALL CAP EMERGING GROWTH
Accumulation share value:
Beginning of period (Note 2) . . . . . . . . . . $7.90 $8.30 $10.00 --
End of period . . . . . . . . . . . . . . . . . . $5.60 $7.90 $8.30 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 30,007 79,406 535 --

SMALL CAP VALUE
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . $16.31 $13.87 $10.46 $10.00
End of period . . . . . . . . . . . . . . . . . . $15.07 $16.31 $13.87 $10.46
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 128,046 546,648 241,338 --

SMALL CAP GROWTH
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $14.19 $16.44 $21.19 $14.27
End of period . . . . . . . . . . . . . . . . . . $9.81 $14.19 $16.44 $21.19
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 134,266 715,728 608,753 59,529

AIM V.I. PREMIER EQUITY
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $8.57 $9.92 $11.77 $10.00
End of period . . . . . . . . . . . . . . . . . . $5.90 $8.57 $9.92 $11.77
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 646,051 3,090,645 2,548,369 302,772

AIM V.I. CAPITAL DEVELOPMENT - SERIES II CLASS
Accumulation share value:
Beginning of period (Note 4) . . . . . . . . . . $10.00 -- -- --
End of period . . . . . . . . . . . . . . . . . . $7.45 -- -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . -- -- -- --

FIDELITY VIP CONTRAFUND(R) - SERVICE CLASS
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $9.25 $10.69 $11.61 $10.00
End of period . . . . . . . . . . . . . . . . . . $8.28 $9.25 $10.69 $11.61
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 377,519 1,645,859 1,447,471 237,990

MFS INVESTORS GROWTH STOCK - INITIAL CLASS
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $8.58 $11.45 $12.36 $10.00
End of period . . . . . . . . . . . . . . . . . . $6.14 $8.58 $11.45 $12.36
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 331,636 1,280,675 971,077 158,192
MFS RESEARCH - INITIAL CLASS
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $8.67 $11.14 $11.86 $10.00
End of period . . . . . . . . . . . . . . . . . . $6.46 $8.67 $11.14 $11.86
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 177,806 970,571 672,010 73,452

INTERNATIONAL EQUITY INDEX
Accumulation share value:
Beginning of period (Note 4) . . . . . . . . . . $10.00 -- -- --
End of period . . . . . . . . . . . . . . . . . . $6.77 -- -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 4,383 -- -- --

INTERNATIONAL OPPORTUNITIES
Accumulation share value:
Beginning of period (Note 3) . . . . . . . . . . . $8.33 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . $6.72 $8.33 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 75,514 20,457 -- --

OVERSEAS EQUITY
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $10.76 $11.65 $12.98 $12.24
End of period . . . . . . . . . . . . . . . . . . $9.96 $10.76 $11.65 $12.98
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 28,672 128,318 63,735 5,361

Period from
Year Ended Year Ended Year Ended August 10, 1999
December 31, December 31, December 31, to December 31,
2002 2001 2000 1999
------------ ------------ ------------ ----------------

FIDELITY VIP OVERSEAS - SERVICE CLASS
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $7.73 $9.97 $12.48 $10.00
End of period . . . . . . . . . . . . . . . . . . $6.10 $7.73 $9.97 $12.48
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 193,599 960,931 1,107,608 30,517
EMERGING MARKETS EQUITY
Accumulation share value:
Beginning of period (Note 3) . . . . . . . . . . $9.85 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . $9.07 $9.85 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 7,320 7,941 -- --

JANUS ASPEN WORLDWIDE GROWTH - SERVICE SHARES CLASS
Accumulation share value:
Beginning of period (Note 2) . . . . . . . . . . $6.90 $9.03 $10.00 --
End of period . . . . . . . . . . . . . . . . . . $5.07 $6.90 $9.03 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 51,239 322,018 128,709 --

REAL ESTATE EQUITY
Accumulation share value:
Beginning of period (Note 2) . . . . . . . . . . $11.43 $10.95 $10.00 --
End of period . . . . . . . . . . . . . . . . . . $11.44 $11.43 $10.95 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 68,106 138,332 1,766 --

HEALTH SCIENCES
Accumulation share value:
Beginning of period (Note 3) . . . . . . . . . . . $9.73 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . $7.69 $9.73 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 33,411 100,786 -- --

FINANCIAL INDUSTRIES (Note 5)
Accumulation share value:
Beginning of period . . . . . . . . . . . $14.58 $17.90 $14.25 $10.00
End of period . . . . . . . . . . . . . $11.60 $14.58 $17.90 $14.25
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . 145,392 855,100 642,376 113,876

MANAGED
Accumulation share value:
Beginning of period (Note 2) . . . . . . . . . . $9.34 $9.73 $10.00 --
End of period . . . . . . . . . . . . . . . . . . $8.00 $9.34 $9.73 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 154,757 868,814 89 --

SHORT TERM BOND
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $14.20 $13.30 $12.48 $12.34
End of period . . . . . . . . . . . . . . . . . . $14.82 $14.20 $13.30 $12.48
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 158,441 440,240 126,421 15,433

BOND INDEX
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $11.31 $10.63 $9.63 $9.65
End of period . . . . . . . . . . . . . . . . . . $12.28 $11.31 $10.63 $9.63
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 232,070 833,929 327,502 47,232

ACTIVE BOND
Accumulation share value:
Beginning of period (Note 3) . . . . . . . . . . . $10.39 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . $11.00 $10.39 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 391,520 1,154,989 -- --

HIGH YIELD BOND
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . $9.12 $9.04 $10.27 $10.00
End of period . . . . . . . . . . . . . . . . . . $8.60 $9.12 $9.04 $10.27
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 149,911 644,021 333,028 48,898

Period from
Year Ended Year Ended Year Ended August 10, 1999
December 31, December 31, December 31, to December 31,
2002 2001 2000 1999
------------ ------------ ------------ ----------------

GLOBAL BOND
Accumulation share value:
Beginning of period (Note 2) . . . . . . . . . . $10.31 $10.60 $10.00 --
End of period . . . . . . . . . . . . . . . . . . $12.10 $10.31 $10.60 --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 39,131 71,857 -- --

MONEY MARKET
Accumulation share value:
Beginning of period (Note 3) . . . . . . . . . . $10.12 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . $10.15 $10.12 -- --
Number of Accumulation Shares outstanding at end of
period. . . . . . . . . . . . . . . . . . . . . . . 1,371,649 4,289,180 -- --

APPENDIX A - DETAILS ABOUT OUR GUARANTEE PERIODS

INVESTMENTS THAT SUPPORT OUR GUARANTEE PERIODS

We invest the non-unitized separate account assets, according to our detailed
investment policies and guidelines, in fixed income obligations, including:

. corporate bonds,

. mortgages,

. mortgage-backed and asset-backed securities, and

. government and agency issues.

GUARANTEED INTEREST RATES

We declare the guaranteed rates from time to time as market conditions and
other factors dictate. We advise you of the guaranteed rate for a selected
guarantee period at the time we:

. receive your premium payment,

. effectuate your transfer, or

. renew your guarantee period

COMPUTATION OF MARKET VALUE ADJUSTMENT

We determine the amount of the market value adjustment by multiplying the
amount being taken from the guarantee period (before any applicable withdrawal
charge) by a factor expressed by the following formula:

1+g
(---------)n/12-1
1+c+0.005

where,

. G is the guaranteed rate in effect for the current guarantee period.

. C is the current guaranteed rate in effect for new guarantee periods with
duration equal to the number of years remaining in the current guarantee
period (rounded to the nearest whole number of years). If we are not
currently offering such a guarantee period, we will declare a guarantee
rate, solely for this purpose, consistent with interest rates currently
available.

. N is the number of complete months from the date of withdrawal to the end
of the current guarantee period. (If less than one complete
month remains, N equals one unless the withdrawal is made on the last day
of the guarantee period, in which case no adjustment applies.)

SAMPLE CALCULATION 1: POSITIVE ADJUSTMENT

- --------------------------------------------------------------------------------
Amount withdrawn or transferred $10,000
- --------------------------------------------------------------------------------
Guarantee period 5 years
- --------------------------------------------------------------------------------
Time of withdrawal or transfer beginning of 3rd year of guaranteed period
- --------------------------------------------------------------------------------
Guaranteed rate* (g) 4%
- --------------------------------------------------------------------------------
Guaranteed rate for new 3 year 3%
guarantee* (c)
- --------------------------------------------------------------------------------
Remaining guarantee period (n) 36 months
- --------------------------------------------------------------------------------

Market value adjustment:

1+0.04
10,000x[(------------)36/12-1]=145.63
1+0.03+0.005

Amount withdrawn or transferred (adjusted for market value adjustment): $10,000
+ $145.63 = $10,145.63

*All interest rates shown have been arbitrarily chosen for purposes of this
example. In most cases they will bear little or no relation to the rates we are
actually guaranteeing at any time.

SAMPLE CALCULATION 2: NEGATIVE ADJUSTMENT

Amount withdrawn or transferred $10,000
- -------------------------------------------------------------------------------
Guarantee period 5 years
- -------------------------------------------------------------------------------
Time of withdrawal or transfer beginning of 3rd year of guaranteed period
- -------------------------------------------------------------------------------
Guaranteed rate* (g) 4%
- -------------------------------------------------------------------------------
Guaranteed rate for new 3 year 5%
guarantee* (c)
- -------------------------------------------------------------------------------
Remaining guarantee period(n) 36 months
- -------------------------------------------------------------------------------

Market value adjustment:

1+0.04
10,000x[(------------)36/12-1]=420.50
1+0.05+0.005

Amount withdrawn or transferred (adjusted for market value adjustment): $10,000
- - $420.50 = $9,579.50

*All interest rates shown have been arbitrarily chosen for purposes of this
example. In most cases they will bear little or no relation to the rates we are
actually guaranteeing at any time.

APPENDIX B - EXAMPLE OF WITHDRAWAL CHARGE CALCULATION

ASSUME THE FOLLOWING FACTS:

.. On January 1, 2001, you make a $5,000 initial premium payment and we issue
you a contract.

.. On January 1, 2002, you make a $1,000 premium payment.

.. On January 1, 2003, you make a $1,000 premium payment.

.. On January 1, 2004, the total value of your contract is $7,500 because of the
extra credits and favorable investment earnings.

Now assume you make a partial withdrawal of $7,000 (no tax withholding) on
January 2, 2004. In this case, assuming no prior withdrawals, we would deduct a
CDSL of $474.19. We withdraw a total of $7,474.19 from your contract.

$7,000.00 -- withdrawal request payable to you
+ 474.19 -- withdrawal charge payable to us
---------
$7,474.19 -- total amount withdrawn from your contract

HERE IS HOW WE DETERMINE THE WITHDRAWAL CHARGE:

(1) We FIRST distribute to you the $500 profit you have in your contract
($7,500 total contract value less $7,000 of premiums you have paid) under
the free withdrawal provision.

(2) Next we repay to you the $5,000 premium you paid in 2001 Under the free
withdrawal provision, $200 of that premium is charge free ($7,000 total
premiums paid x 10%; less the $500 free withdrawal in the same contract
year described in paragraph 1 above). We assess a withdrawal charge on
the remaining balance of $4,800 from your 2001 premium. Because you made
that premium payment 3 years ago, the withdrawal charge percentage is 7%.
We deduct the resulting $336 from your contract to cover the withdrawal
charge on your 2001 premium payment. We pay the remainder of $4,464 to
you as a part of your withdrawal request.

$5,000
- 200 -- free withdrawal amount (payable to you)
------
$4,800
x.07
------
$ 336 -- withdrawal charge on 2001 premium payment (payable to us)

$4,800
-336
------
$4,464 -- part of withdrawal request payable to you

(3) We next deem the entire amount of your 2002 PREMIUM PAYMENT to be
withdrawn and we assess a withdrawal charge on that $1,000 amount.
Because you made this premium payment 2 years ago, the withdrawal charge
percentage is 7%. We deduct the resulting $70 from your contract to cover
the withdrawal charge on your 2002 premium payment. We pay the remainder
of $930 to you as a part of your withdrawal request.

$1,000
x .07
------
$ 70 -- withdrawal charge on 2002 premium payment (payable to us)
$1,000
- 70
------
$ 930 -- part of withdrawal request payable to you

(4) We NEXT determine what additional amount we need to withdraw to provide
you with the total $7,000 you requested, after the deduction of the
withdrawal charge on that additional amount. We have already allocated
$500 from profits under paragraph 1 above, $200 of additional free
withdrawal amount under paragraph 2, $4,608 from your 2001 premium
payment under paragraph 2, and $930 from your 2003

premium payment under paragraph 3. Therefore, $742 is needed to
reach $7,000.

$7,000 -- total withdrawal amount requested
- 500 -- profit
- 200 -- free withdrawal amount
-4,464 -- payment deemed from initial premium payment
- 930 -- payment deemed from 2002 premium payment
------
$ 906 -- additional payment to you needed to reach $7,000

We know that the withdrawal charge percentage for this remaining amount is 7%,
because you are already deemed to have withdrawn all premiums you paid prior to
2003. We use the following formula to determine how much more we need to
withdraw:

Remainder due to you = Withdrawal needed - [applicable withdrawal charge
percentage times withdrawal needed]

$906 = x - [.07x]
$906 = .94x
$906/.93 = x
$974.19 = x
$974.19 -- deemed withdrawn from 2003 premium payment
- $906.00 -- part of withdrawal request payable to you
---------
$ 68.19 -- withdrawal charge on 2003 premium deemed withdrawn (payable
to us)

APPENDIX C - EXAMPLES OF EARNINGS ENHANCEMENT DEATH BENEFIT CALCULATION

The following are examples of the optional earnings enhancement death benefit.
We have assumed that there are earnings under the contracts in each case.
Actual investment performance may be greater or lower than the amounts shown.

EXAMPLE 1 - EARNINGS ENHANCEMENT DEATH BENEFIT WITH STANDARD DEATH BENEFIT, NO
ADJUSTMENTS FOR WITHDRAWALS OR ADDITIONAL PREMIUM PAYMENTS

Assume:

.. You elect the earnings enhancement death benefit rider (but not the enhanced
death benefit rider) when you purchase your contract,

.. At the time of purchase, you and the annuitant are each under age 70 and you
pay an initial premium of $100,000,

.. You allocate the premium to a variable investment option, and make no
transfers of contract value to other investment options,

.. We determine the death benefit before the Maturity Date, in the fourth year
of your contract on a day when the total value of your contract is $180,000.

Calculation of Standard Death Benefit

Calculation of Earnings Enhancement Amount

Calculation of Net Premiums and Adjusted Net Premiums - To determine "Net
Premiums," we reduce the premiums you paid ($100,000) by the amount of any
withdrawals in excess of earnings ($0, with no adjustment for withdrawal
charges). In this example, the Net Premiums is $100,000. To determine "Adjusted
Net Premiums," we reduce the Net Premiums ($100,000) by any premiums you made,
other than the initial premium, during the 12 months before we calculated the
death benefit ($0). In this example, the "Adjusted Net Premiums" is $100,000.

Calculation of Maximum Benefit Amount - The maximum benefit amount under the
earnings enhancement death benefit rider in this example is 80% of the Adjusted
Net Premiums ($100,000), or $80,000.

The total Death Benefit in this example is the standard death benefit
($180,000) plus the earnings enhancement amount ($32,000), or $212,000.

EXAMPLE 2 - EARNINGS ENHANCEMENT DEATH BENEFIT WITH ENHANCED DEATH BENEFIT,
ADJUSTED FOR WITHDRAWAL AND ADDITIONAL PREMIUM

Assume:

.. You elect the earnings enhancement death benefit rider and the enhanced death
benefit rider when you purchase your contract,

.. At the time of purchase, you are over age 70 and you pay an initial premium
of $100,000,

.. You allocate the premium to a variable investment option, and make no
transfers of contract value to other investment options,

.. On the seventh anniversary of your contract, your total value in the contract
is $175,000, which is the highest value on any anniversary date

.. On the day after the seventh anniversary of your contract, you make a
withdrawal of $80,000,

.. On the eighth anniversary of your contract, the total value of your contract
is $110,000, and you make an additional premium payment of $10,000 at the end
of the eighth year of your contract

.. We determine the death benefit before the Maturity Date in the middle of the
ninth year of your contract, on a day when the total value of your contract is
$120,000.

Calculation of Enhanced Death Benefit

Calculation of Premium Roll-up - We calculate the amount of each premium you
have paid, accumulated at a 5% effective annual rate, minus any withdrawals. In
this example, the accumulated value of your initial premium, after adjustment
for the $80,000 withdrawal, is $65,319.75, and the accumulated value of your
second premium is $10,246.95. The total amount of the premium "roll-up" is
$75,566.70.

Calculation of Earnings Enhancement Amount

Calculation of Net Premiums and Adjusted Net Premiums - To determine "Net
Premiums," we reduce the premiums you paid by the amount of any withdrawals in
excess of earnings (including withdrawal charges). In this example, you withdrew
$80,000 at a time when your earnings were $75,000 and no withdrawal charges were
imposed. The amount withdrawn in excess of earnings is therefore $5,000. Net
Premiums is the amount of premiums paid ($110,000) less amounts withdrawn in
excess of earnings ($5,000), or $105,000. To determine "Adjusted Net Premiums,"
we reduce the Net Premiums ($105,000) by any premiums you made during the 12
months before we calculated the death benefit ($10,000). In this example, the
"Adjusted Net Premiums" is $95,000.

Calculation of Maximum Benefit Amount - The maximum benefit amount under the
earnings enhancement death benefit rider in this example is 50% of your Adjusted
Net Premiums ($95,000), or $47,500.

The total Death Benefit in this example is the enhanced death benefit
($120,000) plus the earnings enhancement amount ($3,750), or $123,750.

PROSPECTUS DATED MAY 1, 2003

REVOLUTION VALUE VARIABLE ANNUITY

a deferred combination fixed and variable annuity contract issued by
JOHN HANCOCK VARIABLE LIFE INSURANCE COMPANY ("JHVLICO")
JOHN HANCOCK VARIABLE ANNUITY ACCOUNT JF

The contract enables you to earn fixed rates of interest that we guarantee
for stated periods of time ("guarantee periods") and investment-based
returns in the following variable investment options:

- ---------------------------------------------------------------------------------------------------------
VARIABLE INVESTMENT OPTIONS: UNDERLYING FUND MANAGED BY:

EQUITY OPTIONS:
Equity Index ................................... SSgA Funds Management, Inc.
Large Cap Value ................................ T. Rowe Price Associates, Inc.
Large Cap Value CORE (SM)....................... Goldman Sachs Asset Management, L.P.
Large Cap Growth ............................... Independence Investment LLC
Large Cap Aggressive Growth .................... Janus Capital Management, LLC
Earnings Growth ................................ Fidelity Management & Research Company
Growth & Income ................................ Independence Investment LLC and Putnam Investment
Management, LLC
Fundamental Value .............................. Wellington Management Company, LLP
Fundamental Growth ............................. Putnam Investment Management, LLC
Mid Cap Value .................................. T. Rowe Price Associates, Inc.
Small/Mid Cap CORE (SM) ........................ Goldman Sachs Asset Management, L.P.
Small/Mid Cap Growth ........................... Wellington Management Company, LLP
Small Cap Value ................................ T. Rowe Price Associates, Inc. and Wellington
Management Company, LLP
Small Cap Growth ............................... John Hancock Advisers, LLC
Small Cap Emerging Growth ...................... Wellington Management Company, LLP
AIM V.I. Premier Equity ........................ A I M Advisors, Inc.
AIM V.I. Capital Development ................... A I M Advisors, Inc.
Fidelity VIP Contrafund(R) ..................... Fidelity Management & Research Company
MFS Investors Growth Stock ..................... MFS Investment Management(R)
MFS Research ................................... MFS Investment Management(R)
International Equity Index ..................... Independence Investment LLC
International Opportunities .................... T. Rowe Price International, Inc.
Overseas Equity ................................ Capital Guardian Trust Company
Fidelity VIP Overseas .......................... Fidelity Management & Research Company
Emerging Markets Equity ........................ Van Kampen (a registered trade name of Morgan
Stanley Investment Management Inc.)
Janus Aspen Worldwide Growth ................... Janus Capital Management, LLC
Real Estate Equity ............................. RREEF America LLC and Van Kampen (a registered
trade name of Morgan Stanley Investment Management
Inc.)
Health Sciences ................................ Wellington Management Company, LLP
Financial Industries ........................... John Hancock Advisers, LLC
Janus Aspen Global Technology .................. Janus Capital Management, LLC

BALANCED OPTIONS:
Managed......................................... Independence Investment LLC and Capital Guardian
Trust Company
BOND & MONEY MARKET OPTIONS:
Short-Term Bond ................................ Independence Investment LLC
Bond Index ..................................... Standish Mellon Asset Management Company LLC
Active Bond .................................... John Hancock Advisers, LLC
Total Return Bond .............................. Pacific Investment Management Company LLC
High Yield Bond ................................ Wellington Management Company, LLP
Global Bond .................................... Capital Guardian Trust Company
Money Market ................................... Wellington Management Company, LLP
- ---------------------------------------------------------------------------------------------------------

The variable investment options shown on page 1 are those available as of
the date of this prospectus. We may add, modify or delete variable investment
options in the future.

Each Series Fund is a so-called "series" type mutual fund registered with
the Securities and Exchange Commission ("SEC"). The investment results of each
variable investment option you select will depend on those of the corresponding
fund of one of the Series Funds. Each of the funds is separately managed and has
its own investment objective and strategies. Attached at the end of this
prospectus is a prospectus for each Series Fund. The Series Fund prospectuses
contain detailed information about each available fund. Be sure to read those
prospectuses before selecting any of the variable investment options shown on
page 1.

JOHN HANCOCK ANNUITY SERVICING OFFICE
-------------------------------------

MAIL DELIVERY
-------------
P.O. Box 772
Boston, MA 02117

OVERNIGHT DELIVERY
------------------

John Hancock Annuity Image Operations
27 Dry Dock Avenue, Second floor
South Boston, MA 02110

PHONE: 1-800-824-0335

FAX: 1-617-572-1571

********************************************************************************

Please note that the SEC has not approved or disapproved these securities,
or determined if this prospectus is truthful or complete. Any representation to
the contrary is a criminal offense.

GUIDE TO THIS PROSPECTUS

This prospectus contains information that you should know before you buy a
contract or exercise any of your rights under the contract. We have arranged the
prospectus in the following way:

. The first section contains an "INDEX OF KEY WORDS."

. Behind the index is the "FEE TABLE." This section highlights the
various fees and expenses you will pay directly or indirectly, if you
purchase a contract.

. The next section is called "BASIC INFORMATION." It contains basic
information about the contract presented in a question and answer
format. You should read the Basic Information before reading any other
section of the prospectus.

. Behind the Basic Information is "ADDITIONAL INFORMATION." This section
gives more details about the contract. It generally does not repeat
information contained in the Basic Information.

The Series Funds' prospectuses are attached at the end of this prospectus. You
should save these prospectuses for future reference.

- --------------------------------------------------------------------------------
IMPORTANT NOTICES

INDEX OF KEY WORDS

We define or explain each of the following key words used in this prospectus on
the pages shown below:

KEY WORD PAGE

Accumulation units.........................................................30
Annuitant..................................................................10
Annuity payments...........................................................13
Annuity period.............................................................13
Business day...............................................................11
Contract year..............................................................10
Date of issue..............................................................10
Date of maturity...........................................................31
Free withdrawal amounts....................................................17
Funds...................................................................... 2
Guarantee period...........................................................14
Investment options.........................................................14
Market value adjustment....................................................12
Premium payments...........................................................10
Surrender .................................................................18
Surrender value............................................................18
Total value of your contract...............................................12
Variable investment options.............................................cover
Withdrawal charge..........................................................17
Withdrawal.................................................................17

FEE TABLES

THE FOLLOWING TABLES DESCRIBE THE FEES AND EXPENSES THAT YOU WILL PAY WHEN
BUYING, OWNING AND SURRENDERING A REVOLUTION VALUE CONTRACT. THE FIRST TABLE
DESCRIBES THE CHARGES THAT YOU WILL PAY AT THE TIME THAT YOU BUY THE CONTRACT,
SURRENDER THE CONTRACT, OR TRANSFER ACCOUNT VALUE BETWEEN INVESTMENT OPTIONS.
STATE PREMIUM TAXES MAY ALSO BE DEDUCTED.

- -------------------------------------------------------------------------------
Contractowner Transaction Expenses Revolution Value
- -------------------------------------------------------------------------------
Maximum Withdrawal Charge (as % of amount 7% within 1 year
withdrawn or surrendered)/1/ 6% within 2 years
5% within 3 years
4% within 4 years
3% within 5 years
2% within 6 years
1% within 7 years
0% thereafter
- -------------------------------------------------------------------------------
Maximum transfer charge/2/ $25
- -------------------------------------------------------------------------------

/1/ This charge is taken upon withdrawal or surrender within the specified
period of years measured from the date of premium payment.

/2/ This charge is not currently imposed, but we reserve the right to do so in
the contract. If we do, it will be taken upon each transfer into or out of
any investment option beyond an annual limit of not less than 12.

THE NEXT TABLE DESCRIBES THE FEES AND EXPENSES THAT YOU WILL PAY PERIODICALLY
DURING THE TIME YOU OWN THE CONTRACT. THIS TABLE DOES NOT INCLUDE FEES AND
EXPENSES PAID AT THE FUND LEVEL.

- ------------------------------------------------------------------------------
Revolution Value
- ------------------------------------------------------------------------------
Maximum Annual Contract Fee/3/ $50
- ------------------------------------------------------------------------------
Current Annual Contract Fee/4/ $30
- ------------------------------------------------------------------------------
Separate Account Annual Expenses 1.25%
(as a percentage of average
account value)/5/
- ------------------------------------------------------------------------------
Optional Benefit Rider Charges/6/:
- ------------------------------------------------------------------------------
Waiver of Withdrawal Charge 0.10% of that portion of your contract's
("CARESolutions") Rider total value attributable to premiums that
are still subject to surrender charges
- ------------------------------------------------------------------------------
Enhanced Death Benefit Rider/7/ 0.25% of your contract's total value
- ------------------------------------------------------------------------------
Earnings Enhancement ("Beneficiary 0.25% of your contract's total value
Tax Relief") Death Benefit Rider
- ------------------------------------------------------------------------------
Accumulated Value Enhancement
("CARESolutions Plus") Rider/8/ 0.35% of your initial premium payment
- ------------------------------------------------------------------------------
Guaranteed Retirement Income 0.30% of your contract's total value
Benefit Rider
- ------------------------------------------------------------------------------

/3/ This charge is not currently imposed, and would only apply to contracts of
less than $50,000.

/4/ This charge applies only to contracts of less than $50,000. It is taken at
the end of each contract year but, if you surrender a contract before then,
it will be taken at the time of surrender.

/5/ This charge only applies to that portion of account value held in the
variable investment options. The charge does not apply to amounts in the
guarantee periods or in the guarantee rate account under our dollar-cost
averaging value program.

/6/ Charges for optional benefit riders are assessed monthly. The monthly
charge is 1/12/th/ of the annual charge shown in the table.

/7/ In certain states (and for riders issued prior to May 1, 2002), the rate
for the Enhanced Death Benefit rider may be lower than the amount shown.

/8/ This rider is available only if you purchase the Waiver of Withdrawal
Charge rider as well. We reserve the right to increase the annual charge
shown on a uniform basis for all Accumulated Value Enhancement riders
issued in the same state.

THE NEXT TABLE DESCRIBES THE MINIMUM AND MAXIMUM TOTAL OPERATING EXPENSES
CHARGED BY THE FUNDS THAT YOU MAY PAY PERIODICALLY DURING THE TIME YOU OWN A
REVOLUTION VALUE CONTRACT. MORE DETAIL CONCERNING EACH FUND'S FEES AND EXPENSES
IS CONTAINED IN THE SERIES FUNDS' PROSPECTUSES.

- --------------------------------------------------------------------------------
Total Annual Fund Operating Expenses Minimum Maximum
- --------------------------------------------------------------------------------
Range of expenses that are deducted from 0.23% 3.45%
fund assets, including management fees,
distribution and/ or service (12b-1) fees,
and other expenses
- --------------------------------------------------------------------------------
Range of expenses after taking account of 0.23% 1.60%*
certain reimbursements or waivers of
expenses and fees
- --------------------------------------------------------------------------------

* Under its current investment management agreements with the John Hancock
Variable Series Trust I ("JHVST"), John Hancock Life Insurance Company has
contractually agreed to reimburse each JHVST fund when the fund's "other
fund expenses" exceed 0.10% of its average daily net assets. The agreements
will remain in effect until May 1, 2004, and may be renewed each year
thereafter by the John Hancock Variable Series Trust I. The following table
lists the JHVST funds available under your contract that are subject to
these agreements. See the prospectuses for the Series Funds for other
information on reimbursement or waiver arrangements affecting the funds.

THE NEXT TABLE DESCRIBES FUND LEVEL FEES AND EXPENSES FOR EACH OF THE FUNDS.
MORE DETAIL CONCERNING EACH FUND'S FEES AND EXPENSES IS CONTAINED IN THE
PROSPECTUSES FOR THE SERIES FUNDS.

- ------------------------------------------------------------------------------------------------------------------------------
TOTAL FUND TOTAL FUND
DISTRIBUTION OTHER OPERATING OPERATING OPERATING
INVESTMENT AND EXPENSES EXPENSES EXPENSES
MANAGEMENT SERVICE (12B-1) WITHOUT WITHOUT EXPENSE WITH
FUND NAME FEE FEES REIMBURSEMENT REIMBURSEMENT REIMBURSEMENT REIMBURSEMENT
- ------------------------------------------------------------------------------------------------------------------------------

JOHN HANCOCK VARIABLE SERIES
TRUST I (NOTE 1):
- -----------------------------------------------------------------------------------------------------------------------------
Equity Index ................... 0.13% N/A 0.10% 0.23% 0.00% 0.23%
- -----------------------------------------------------------------------------------------------------------------------------
Large Cap Value................. 0.75% N/A 0.08% 0.83% 0.00% 0.83%
- -----------------------------------------------------------------------------------------------------------------------------
Large Cap Value CORE (SM)....... 0.74% N/A 0.23% 0.97% 0.13% 0.84%
- -----------------------------------------------------------------------------------------------------------------------------
Large Cap Growth................ 0.79% N/A 0.08% 0.87% 0.00% 0.87%
- -----------------------------------------------------------------------------------------------------------------------------
Large Cap Aggressive Growth..... 0.87% N/A 0.11% 0.98% 0.01% 0.97%
- -----------------------------------------------------------------------------------------------------------------------------
Earnings Growth*................ 0.95% N/A 0.09% 1.04% 0.00% 1.04%
- -----------------------------------------------------------------------------------------------------------------------------
Growth & Income................. 0.67% N/A 0.08% 0.75% 0.00% 0.75%
- -----------------------------------------------------------------------------------------------------------------------------
Fundamental Value............... 0.77% N/A 0.08% 0.85% 0.00% 0.85%
- -----------------------------------------------------------------------------------------------------------------------------
Fundamental Growth.............. 0.90% N/A 0.26% 1.16% 0.16% 1.00%
- -----------------------------------------------------------------------------------------------------------------------------
Mid Cap Value................... 1.10% N/A 0.10% 1.20% 0.00% 1.20%
- -----------------------------------------------------------------------------------------------------------------------------
Small/Mid Cap CORE (SM)......... 1.05% N/A 0.25% 1.30% 0.15% 1.15%
- -----------------------------------------------------------------------------------------------------------------------------
Small/Mid Cap Growth............ 0.97% N/A 0.10% 1.07% 0.00% 1.07%
- -----------------------------------------------------------------------------------------------------------------------------
Small Cap Value................. 0.95% N/A 0.09% 1.04% 0.00% 1.04%
- -----------------------------------------------------------------------------------------------------------------------------
Small Cap Growth................ 1.05% N/A 0.08% 1.13% 0.00% 1.13%
- -----------------------------------------------------------------------------------------------------------------------------
Small Cap Emerging Growth*...... 1.05% N/A 0.14% 1.19% 0.04% 1.15%
- -----------------------------------------------------------------------------------------------------------------------------
International Equity Index...... 0.18% N/A 0.28% 0.46% 0.18% 0.28%
- -----------------------------------------------------------------------------------------------------------------------------
International Opportunities..... 1.14% N/A 0.41% 1.55% 0.31% 1.24%
- -----------------------------------------------------------------------------------------------------------------------------
Overseas Equity*................ 1.05% N/A 0.40% 1.45% 0.30% 1.15%
- -----------------------------------------------------------------------------------------------------------------------------
Emerging Markets Equity......... 1.50% N/A 1.95% 3.45% 1.85% 1.60%
- -----------------------------------------------------------------------------------------------------------------------------
Real Estate Equity.............. 0.98% N/A 0.09% 1.07% 0.00% 1.07%
- -----------------------------------------------------------------------------------------------------------------------------
Health Sciences................. 1.00% N/A 0.35% 1.35% 0.25% 1.10%
- -----------------------------------------------------------------------------------------------------------------------------
Financial Industries............ 0.80% N/A 0.10% 0.90% 0.00% 0.90%
- -----------------------------------------------------------------------------------------------------------------------------
Managed......................... 0.68% N/A 0.08% 0.76% 0.00% 0.76%
- -----------------------------------------------------------------------------------------------------------------------------
Short-Term Bond................. 0.60% N/A 0.08% 0.68% 0.00% 0.68%
- -----------------------------------------------------------------------------------------------------------------------------
Bond Index...................... 0.14% N/A 0.11% 0.25% 0.01% 0.24%
- -----------------------------------------------------------------------------------------------------------------------------

- -----------------------------------------------------------------------------------------------------------------------------
TOTAL FUND TOTAL FUND
DISTRIBUTION OTHER OPERATING OPERATING OPERATING
INVESTMENT AND EXPENSES EXPENSES EXPENSES
MANAGEMENT SERVICE (12B-1) WITHOUT WITHOUT EXPENSE WITH
FUND NAME FEE FEES REIMBURSEMENT REIMBURSEMENT REIMBURSEMENT REIMBURSEMENT
- -----------------------------------------------------------------------------------------------------------------------------

JOHN HANCOCK VARIABLE SERIES
TRUST I (NOTE 1):
- -----------------------------------------------------------------------------------------------------------------------------
Active Bond........................ 0.61% N/A 0.08% 0.69% 0.00% 0.69%
- -----------------------------------------------------------------------------------------------------------------------------
Total Return Bond.................. 1.10% N/A 0.10% 1.20% 0.00% 1.20%
- -----------------------------------------------------------------------------------------------------------------------------
High Yield Bond.................... 0.80% N/A 0.16% 0.96% 0.06% 0.90%
- -----------------------------------------------------------------------------------------------------------------------------
Global Bond........................ 0.85% N/A 0.16% 1.01% 0.06% 0.95%
- -----------------------------------------------------------------------------------------------------------------------------
Money Market....................... 0.25% N/A 0.07% 0.32% 0.00% 0.32%
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
AIM VARIABLE INSURANCE FUNDS -
SERIES I SHARES:
- -----------------------------------------------------------------------------------------------------------------------------
AIM V.I. Premier Equity Fund....... 0.61% N/A 0.24% 0.85% 0.00% 0.85%
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
AIM VARIABLE INSURANCE FUNDS -
SERIES II SHARES:
- -----------------------------------------------------------------------------------------------------------------------------
AIM V.I. Capital Development Fund.. 0.75% 0.25% 0.39% 1.39% 0.00% 1.39%
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
VARIABLE INSURANCE PRODUCTS FUND
- SERVICE CLASS:
- -----------------------------------------------------------------------------------------------------------------------------
Fidelity(R) VIP Overseas........... 0.73% 0.10% 0.17% 1.00% 0.00% 1.00%
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
VARIABLE INSURANCE PRODUCTS FUND
II - SERVICE CLASS:
- -----------------------------------------------------------------------------------------------------------------------------
Fidelity(R) VIP Contrafund(R)...... 0.58% 0.10% 0.10% 0.78% 0.00% 0.78%
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
JANUS ASPEN SERIES - SERVICE
SHARES CLASS:
- -----------------------------------------------------------------------------------------------------------------------------
Janus Aspen Worldwide Growth....... 0.65% 0.25% 0.05% 0.95% 0.00% 0.95%
- -----------------------------------------------------------------------------------------------------------------------------
Janus Aspen Global Technology...... 0.65% 0.25% 0.07% 0.97% 0.00% 0.97%
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
MFS VARIABLE INSURANCE TRUST
INITIAL CLASS SHARES (NOTE 2):
- -----------------------------------------------------------------------------------------------------------------------------
MFS(R) Investors Growth Stock...... 0.75% N/A 0.13% 0.88% 0.00% 0.88%
- -----------------------------------------------------------------------------------------------------------------------------
MFS(R) Research.................... 0.75% N/A 0.12% 0.87% 0.00% 0.87%
- -----------------------------------------------------------------------------------------------------------------------------

(1) Under its current investment management agreements with the John Hancock
Variable Series Trust I ("JHVST"), John Hancock Life Insurance Company has
contractually agreed to reimburse each JHVST fund when the fund's "other
fund expenses" exceed 0.10% of its average daily net assets. The agreements
will remain in effect until May 1, 2004, and may be renewed each year
thereafter by JHVST. Percentages shown for the Large Cap Growth and
Small/Mid Cap CORE(SM) funds are calculated as if the current management
fee schedules, which apply to these funds effective October 1, 2002, were
in effect for all of 2002. Percentages shown for the Small Cap Emerging
Growth fund are calculated as if the current management fee schedule, which
applies to this fund effective May 1, 2003, was in effect for all of 2002.
The percentages shown for the Mid Cap Value and Total Return Bond funds are
estimates because the funds were not in operation prior to the date of this
prospectus. The percentages shown for the Financial Industries fund are
based on the fund's current management fee schedule and the operating
expenses and average daily net assets of the fund's predecessor during
2002."CORE(SM)" is a service mark of Goldman, Sachs & Co.

* Earnings Growth was formerly "Multi Cap Growth," Small Cap Emerging
Growth was formerly "Small Cap Equity," and Overseas Equity was formerly
"Global Balanced."

arrangements and directed brokerage arrangements, which would also have the
effect of reducing the fund's expenses. "Other Operating Expenses" do not
take into account these expense reductions, and are therefore higher than the
actual expenses of the funds. Had these fee reductions been taken into
account, "Total Fund Operating Expenses with Reimbursement" would equal 0.87%
for MFS Investors Growth Stock and 0.86% for MFS Research.

EXAMPLES

THE FOLLOWING TWO EXAMPLES ARE INTENDED TO HELP YOU COMPARE THE COST OF
INVESTING IN A REVOLUTION VALUE CONTRACT WITH THE COST OF INVESTING IN OTHER
VARIABLE ANNUITY CONTRACTS. THESE COSTS INCLUDE CONTRACT OWNER TRANSACTION
EXPENSES, CONTRACT FEES, SEPARATE ACCOUNT ANNUAL EXPENSES AND FUND FEES AND
EXPENSES.

THE FIRST EXAMPLE ASSUMES THAT YOU INVEST $10,000 IN AN "ALL RIDER"
CONTRACT WITH THE FOLLOWING OPTIONAL BENEFIT RIDERS: WAIVER OF WITHDRAWAL CHARGE
RIDER, ENHANCED DEATH BENEFIT RIDER, EARNINGS ENHANCEMENT DEATH BENEFIT RIDER,
ACCUMULATED VALUE ENHANCEMENT RIDER AND GUARANTEED RETIREMENT INCOME BENEFIT
RIDER. THE FIRST EXAMPLE ALSO ASSUMES THAT YOUR INVESTMENT HAS A 5% RETURN EACH
YEAR AND ASSUMES THE MAXIMUM ANNUAL CONTACT FEE AND THE MAXIMUM FEES AND
EXPENSES OF ANY OF THE FUNDS. ALTHOUGH YOUR ACTUAL COSTS MAY BE HIGHER OR LOWER,
BASED ON THESE ASSUMPTIONS, YOUR COSTS WOULD BE:

Revolution Value - maximum fund-level total operating expenses
- --------------------------------------------------------------

----------------------------------------------------------------------------------------------
1 YEAR 3 YEARS 5 YEARS 10 YEARS
----------------------------------------------------------------------------------------------

(1) IF YOU SURRENDER YOUR ALL RIDER CONTRACT AT THE END OF
THE APPLICABLE TIME PERIOD: $1045 $2060 $3053 $5612
----------------------------------------------------------------------------------------------
(2) IF YOU ANNUITIZE YOUR ALL RIDER CONTRACT AT THE END OF
THE APPLICABLE TIME PERIOD: $ 415 $1610 $2782 $5612
----------------------------------------------------------------------------------------------
(3) IF YOU DO NOT SURRENDER YOUR ALL RIDER CONTRACT: $ 415 $1610 $2782 $5612
----------------------------------------------------------------------------------------------

ALTHOUGH YOUR ACTUAL COSTS MAY BE HIGHER OR LOWER, BASED ON THESE
ASSUMPTIONS, YOUR COSTS WOULD BE:

Revolution Value - minimum fund-level total operating expenses
- --------------------------------------------------------------

--------------------------------------------------------------------------------------------
1 YEAR 3 YEARS 5 YEARS 10 YEARS
--------------------------------------------------------------------------------------------

(1) IF YOU SURRENDER YOUR NO RIDER CONTRACT AT THE END OF $783 $924 $1074 $1791
THE APPLICABLE TIME PERIOD:
--------------------------------------------------------------------------------------------
(2) IF YOU ANNUITIZE YOUR NO RIDER CONTRACT AT THE END OF $153 $474 $818 $1791
THE APPLICABLE TIME PERIOD:
--------------------------------------------------------------------------------------------
(3) IF YOU DO NOT SURRENDER YOUR NO RIDER CONTRACT: $153 $474 $818 $1791
--------------------------------------------------------------------------------------------

BASIC INFORMATION

This "Basic Information" section provides answers to commonly asked questions
about the contract. Here are the page numbers where the questions and answers
appear:

QUESTION STARTING ON PAGE
-------- ----------------

What is the contract? ................................................................. 10

Who owns the contract? ................................................................ 10

Is the owner also the annuitant? ...................................................... 10

How can I invest money in a contract? ................................................. 10

How will the value of my investment in the contract change over time? ................. 12

What annuity benefits does the contract provide? ...................................... 13

To what extent can JHVLICO vary the terms and conditions of the contracts? ............ 13

What are the tax consequences of owning a contract? ................................... 13

How can I change my contract's investment allocations? ................................ 14

What fees and charges will be deducted from my contract? .............................. 16

How can I withdraw money from my contract? ............................................ 18

What happens if the owner or the annuitant dies before my contract's date of
maturity? ............................................................................. 19

What other benefits can I purchase under a contract? .................................. 22

Can I return my contract? ............................................................. 23

What additional guarantee applies to the guarantee periods under my contract? ......... 24

What are the terms of the additional guarantee? ....................................... 24

WHAT IS THE CONTRACT?

WHO OWNS THE CONTRACT?

IS THE OWNER ALSO THE ANNUITANT?

HOW CAN I INVEST MONEY IN A CONTRACT?

Premium payments

We call the investments you make in your contract premiums or premium
payments. In general, you need at least a $5,000 initial premium payment to
purchase a contract. If you purchase your contract under any of the
tax-qualified plans shown on page 37 or if you purchase your contract through
the automatic investment plan, different minimums may apply. If you choose to
contribute more money into your contract, each subsequent premium payment must
be at least $200 ($100 for the annuity direct deposit program). If your
contract's total value ever falls to zero, we may terminate it. Therefore, you
may need to pay more premiums to keep the contract in force.

Applying for a contract

Once we receive your initial premium payment and all necessary information,
we will issue your contract and invest your initial premium payment within two
business days. If the information is not in good order, we will contact you to
get the necessary information. If for some reason, we are unable to complete
this process within 5 business days, we will either send back your money or get
your permission to keep it until we get all of the necessary information.

We measure the years and anniversaries of your contract from its date of
issue. We use the term "contract year" to refer to each period of time between
anniversaries of your contract's date of issue.

Limits on premium payments

You can make premium payments of up to $1,000,000 in any one contract year.
The total of all new premium payments and transfers that you allocate to any one
variable investment option or guarantee period in any one contract year may not
exceed $1,000,000. While the annuitant is alive and the contract is in force,
you can make premium payments at any time before the date of maturity. However,

YOU MAY NOT MAKE ANY PREMIUM
PAYMENTS AFTER THE ANNUITANT
IF YOUR CONTRACT IS USED TO FUND REACHES AGE
---------------------------------------------------------------------
a "tax qualified plan"* 70 1/2**
---------------------------------------------------------------------
a non-tax qualified plan 85
---------------------------------------------------------------------

* as that term is used in "Tax Information," beginning on page 35.

** except for a Roth IRA, which has no age limit.

We will not issue a contract if any proposed owner or annuitant is older
than age 84. We may, however, waive this underwriting limit.

Ways to make premium payments

Premium payments made by check or money order should be:

.. drawn on a U.S. bank,

.. drawn in U.S. dollars, and

.. made payable to "John Hancock."

We will not accept credit card checks. Nor will we accept starter or third
party checks that fail to meet our administrative requirements.

Premium payments after the initial premium payment should be sent to:

- --------------------------------------------------------------------------------

JOHN HANCOCK ANNUITY SUBSEQUENT PAYMENTS, X-4
---------------------------------------------
MAIL DELIVERY
-------------
1 John Hancock Way
Suite 1501
Boston, MA 02117-1501

OVERNIGHT DELIVERY
------------------
529 Main Street
Charleston, MA 02129

- --------------------------------------------------------------------------------

We will accept your initial premium payment by exchange from another
insurance company. You can find information about wire payments under "Premium
payments by wire," below. You can find information about other methods of
premium payment by contacting your broker-dealer or by contacting the John
Hancock Annuity Servicing Office.

Premium payments by wire

.. issue a contract;

.. accept premium payments; or

.. allow other transactions.

After we issue your contract, subsequent premium payments may be
transmitted by wire through your bank. Information about our bank, our account
number, and the ABA routing number may be obtained from the John Hancock Annuity
Servicing Office. Banks may charge a fee for wire services.

HOW WILL THE VALUE OF MY INVESTMENT IN THE CONTRACT CHANGE OVER TIME?

Like a regular mutual fund, each fund deducts investment management fees
and other operating expenses. These expenses are shown in the Fee Tables
beginning on page 5. However, unlike a mutual fund, we will also deduct charges
relating to the annuity guarantees and other features provided by the contract.
These charges reduce your investment performance and the amount we have credited
to your contract in any variable investment option. We describe these charges
under "What fees and charges will be deducted from my contract?" beginning on
page 16.

However, if you prematurely transfer, "surrender" or otherwise withdraw
money from a guarantee period we will increase or reduce the remaining value in
your contract by an amount that approximates the impact that any changes in
interest rates would have had on the market value of a debt instrument with
terms comparable to that guarantee period. This "market value adjustment" (or
"MVA") imposes investment risks on you. We describe how the market value
adjustments work in "Calculation of market value adjustment ("MVA")" beginning
on page 29.

At any time before the date of maturity, the total value of your contract
equals

.. the total amount you invested,

.. minus all charges we deduct,

.. minus all withdrawals you have made,

.. plus or minus any positive or negative MVAs that we have made at the time
of any premature withdrawals or transfers you have made from a guarantee
period,

.. plus or minus each variable investment option's positive or negative
investment return that we credit daily to any of your contract's value
while it is in that option, and

.. plus the interest we credit to any of your contract's value while it is in
a guarantee period or in the guarantee rate account (see "Dollar-cost
averaging value program" on page 15).

WHAT ANNUITY BENEFITS DOES THE CONTRACT PROVIDE?

If your contract is still in effect on its date of maturity, it enters what
is called the annuity period. During the annuity period, we make a series of
fixed or variable payments to you as provided under one of our several annuity
options. The form in which we will make the annuity payments, and the proportion
of such payments that will be on a fixed basis and on a variable basis, depend
on the elections that you have in effect on the date of maturity. Therefore, you
should exercise care in selecting your date of maturity and your choices that
are in effect on that date.

You should carefully review the discussion under "The annuity period,"
beginning on page 31, for information about all of these choices you can make.

TO WHAT EXTENT CAN JHVLICO VARY THE TERMS AND CONDITIONS OF ITS CONTRACTS?

State law insurance requirements

Variations in charges or rates

We may vary the charges, guarantee periods, and other terms of our
contracts where special circumstances result in sales or administrative
expenses, mortality risks or other risks that are different from those normally
associated with the contracts. These include the types of variations discussed
under "Certain changes" in the Additional Information section of this
prospectus.

WHAT ARE THE TAX CONSEQUENCES OF OWNING A CONTRACT?

In most cases, no income tax will have to be paid on amounts you earn under
a contract until these earnings are paid out. All or part of the following
distributions from a contract may constitute a taxable payout of earnings:

.. partial withdrawal (including systematic withdrawals),

.. full withdrawal ("surrender"),

.. payment of any death benefit proceeds, and

.. periodic payments under one of our annuity payment options.

How much you will be taxed on a distribution is based upon complex tax
rules and depends on matters such as:

.. the type of the distribution,

.. when the distribution is made,

.. the nature of any tax qualified retirement plan for which the contract is
being used, if any, and

.. the circumstances under which the payments are made.

If your contract is issued in connection with a tax-qualified retirement
plan, all or part of your premium payments may be tax-deductible.

HOW CAN I CHANGE MY CONTRACT'S INVESTMENT ALLOCATIONS?

Allocation of premium payments

When you apply for your contract, you specify the variable investment
options or guarantee periods (together, your investment options) in which your
premium payments will be allocated. You may change this investment allocation
for future premium payments at any time. Any change in allocation will be
effective as of receipt of your request at the John Hancock Annuity Servicing
Office.

Transferring your assets

Up to 12 times during each year of your contract, you may transfer, free of
any charge,

.. all or part of the assets held in one VARIABLE INVESTMENT OPTION to any
other available variable investment option or guarantee period, or

.. all or part of the assets held in one GUARANTEE PERIOD to any other
available guarantee period or variable investment option (these transfers
may, however, incur a market value adjustment - either positive or
negative.)

.. transfer more than $1,000,000 in a contract year into any one variable
investment option or guarantee period, without our prior approval,

.. make any transfer that would cause you to exceed the above-mentioned
maximum of 18 investment options,

.. make any transfers, during the annuity period, to or from a guarantee
period, or

.. make any transfer during the annuity period that would result in more than
four investment options being used at once.

We reserve the right to prohibit a transfer less than 30 days prior to the
contract's date of maturity.

Procedure for transferring your assets

.. your name,

.. daytime telephone number,

.. contract number,

.. the names of the investment options to and from which assets are being
transferred, and

.. the amount of each transfer.

The request becomes effective on the day we receive your request, in proper
form, at the John Hancock Annuity Servicing Office.

Telephone transfers

Once you have completed a written authorization, you may request a transfer
by telephone or by fax. If the fax request option becomes unavailable, another
means of telecommunication will be substituted. YOUR ABILITY TO ACCESS OR
TRANSACT BUSINESS BY TELEPHONE OR FAX MAY BE LIMITED DUE TO CIRCUMSTANCES BEYOND
OUR CONTROL, SUCH AS SYSTEMS OUTAGES OR ILLEGIBLE TRANSMISSIONS.

Dollar-cost averaging ("DCA") programs

Under our DOLLAR-COST AVERAGING VALUE PROGRAM, you may elect to deposit any
new premium payment of $5,000 or more in the guarantee rate account. We also
call this the "DCA rate account." Your deposits under this program will be
depleted over either a 6 or 12 month period. The assets in this account
attributable to a new premium payment will be automatically transferred to one
or more variable investment options over the period you initially selected, but
the period will begin on the date your new premium is deposited in the selected
guarantee rate account. At the time of each deposit into this program, you must
tell us in writing:

.. that your deposit should be allocated to this program; and

.. the variable investment options to which assets will be transferred; and

.. the percentage amount to be transferred to each such variable investment
option.

Under our current administrative rules, you may have multiple deposits
under this program at the same time, but the time period for each such deposit
must be the same (i.e., all must be for 6 month periods or all must be for 12
month periods). Transfers to the guarantee periods are not permitted under this
program, and transfers of your account value from a variable investment option
are not permitted to initiate the program. (You may, however, change your
variable investment allocation instructions at any time in writing or, if you
have authorized telephone transfers, by telephone.) Assets in the account will
earn a fixed rate of return at the effective annual rate in effect at the time
the deposit is made into the account. Such rate will apply to any portion of the
deposit remaining in the account until the full amount of such deposit has been
transferred to the selected variable investment options. We will declare the
rate for the account from time to time.

The guarantee rate account is part of our general account. You have no
interest in or preferential claim on any of the assets held in our general
account. The investments we purchase with amounts you allocate to the guarantee
rate account belong to us; any favorable investment performance on the assets
allocated to the account belongs to us. Instead, you earn interest at the
applicable fixed rate of return.

The dollar-cost averaging value program and the standard dollar-cost
averaging program (described below) cannot be used at the same time.

Your participation in the dollar-cost averaging value program will end if
you request a partial withdrawal from the guaranteed account, or if you request
a transfer from the guaranteed account that is in addition to the automatic
transfers.

Under our STANDARD DOLLAR-COST AVERAGING PROGRAM, you may elect, at no
cost, to automatically transfer assets from any variable investment option to
one or more other variable investment options on a monthly, quarterly,
semiannual, or annual basis. The following conditions apply to the standard
dollar-cost averaging program:

.. You may elect the program only if the total value of your contract equals
$15,000 or more.

.. The amount of each transfer must equal at least $250.

.. You may change your variable investment allocation instructions at any time
in writing or, if you have authorized telephone transfers, by telephone.

.. You may not use the standard dollar-cost averaging program and the
dollar-cost averaging value program at the same time.

.. You may discontinue the program at any time.

.. The program automatically terminates when the variable investment option
from which we are taking the transfers has been exhausted.

.. Automatic transfers to or from guarantee periods are not permitted.

.. We reserve the right to suspend or terminate the program at any time.

Strategic rebalancing

Once elected, strategic rebalancing will continue until we receive notice
of cancellation of the option or notice of the death of the insured person.

The guarantee periods do not participate in and are not affected by
strategic rebalancing. We reserve the right to modify, terminate or suspend the
strategic rebalancing program at any time.

WHAT FEES AND CHARGES WILL BE DEDUCTED FROM MY CONTRACT?

Annual contract fee

Prior to the date of maturity of your contract, we will deduct the $30 the
annual contract fee shown in the Fee Tables at the beginning of each contract
year after the first contract year. We also deduct it if you surrender your
contract, unless your contract's total value is $50,000 or more at the time of
surrender. We take the deduction proportionally from each variable investment
option and each guarantee period you are then using. We reserve the right to
increase the annual contract fee to up to $50.

Asset-based charge

We deduct Separate Acount expenses daily, as an asset-based charge shown in
the Fee Tables, to compensate us primarily for our administrative expenses and
for the mortality and expense risks that we assume under the contracts. This
charge does not apply to assets you have in our guarantee periods. We take the
deduction proportionally from each variable investment option you are then
using.

In return for the mortality risk charge, we assume the risk that annuitants
as a class will live longer than expected, requiring us to pay a greater number
of annuity payments. In return for the expense risk charge, we assume the risk
that our expenses relating to the contracts may be higher than we expected when
we set the level of the contracts' other fees and charges, or that our revenues
from such other sources will be less than expected.

Premium taxes

We make deductions for any applicable premium or similar taxes based on the
amount of a premium payment. Currently, certain local jurisdictions assess a tax
of up to 5% of each premium payment.

Withdrawal charge

If you withdraw some of your premiums from your contract prior to the date
of maturity ("partial withdrawal") or if you surrender (turn in) your contract,
in its entirety, for cash prior to the date of maturity ("total withdrawal" or
"surrender"), we may assess a withdrawal charge. The amount of this charge will
depend on the number of years that have passed since we received your premium
payments, as shown in the Fee Tables.

Fee withdrawal amounts

If you have any profit in your contract, you can always withdraw that
profit without any withdrawal charge. By "profit," we mean the amount by which
your contract's total value exceeds the premiums you have paid and have not (as
discussed below) already withdrawn. If your contract doesn't have any profit (or
you have withdrawn it all) you can still make charge-free withdrawals, unless
and until all of your withdrawals during the same contract year exceed 10% of
all of the premiums you have paid to date.

How we determine and deduct the charge

If the amount you withdraw or surrender totals more than the free
withdrawal amount during the contract year, we will assess a withdrawal charge
shown in the Fee Tables on any amount of the excess that we attribute to premium
payments you made within a withdrawal charge period. Solely for purposes of
determining the amount of the withdrawal charge, we assume that the amount of
each withdrawal that exceeds the free withdrawal amount (together with any
associated withdrawal charge) is a withdrawal first from the earliest premium
payment, and then from the next earliest premium payment, and so forth until all
payments have been exhausted. Once a premium payment has been considered to have
been "withdrawn" under these procedures, that premium payment will not enter
into any future withdrawal charge calculations.

We deduct the withdrawal charge proportionally from each variable
investment option and each guarantee period being reduced by the surrender or
withdrawal. For example, if 60% of the withdrawal amount comes from a Growth
option and 40% from the Money Market option, then we will deduct 60% of the
withdrawal charge from the Growth option and 40% from the Money Market option.
If any such option has insufficient remaining value to cover the charge, we will
deduct any shortfall from all of your other investment options, pro-rata based
on the value in each. If your contract as a whole has insufficient surrender
value to pay the entire charge, we will pay you no more than the surrender
value.

You will find examples of how we compute the withdrawal charge in Appendix
B to this prospectus.

When withdrawal charges don't apply

We don't assess a withdrawal charge in the following situations: on amounts
applied to an annuity option at the contract's date of maturity or to pay a
death benefit;

.. on certain withdrawals if you have elected the rider that waives the
withdrawal charge; and

How an MVA affects the withdrawal charge

Other charges

We deduct the optional benefit rider charges shown in the Fee Tables
proportionally from each of your investment options, including the guaranteed
periods, based on your value in each.

HOW CAN I WITHDRAW MONEY FROM MY CONTRACT?

Surrenders and partial withdrawals

Prior to your contract's date of maturity, if the annuitant is living, you
may:

.. surrender your contract for a cash payment of its "surrender value," or

.. make a partial withdrawal of the surrender value.

The surrender value of a contract is the total value of a contract, after
any market value adjustment, minus the annual contract fee, any applicable
premium tax, any withdrawal charges, and any applicable rider charges. We will
determine the amount surrendered or withdrawn as of the date we receive your
request in proper form at the John Hancock Annuity Servicing Office.

We will deduct any partial withdrawal proportionally from each of your
investment options based on the value in each, unless you direct otherwise.

Without our prior approval, you may not make a partial withdrawal:

.. for an amount less than $100, or

.. if the remaining total value of your contract would be less than $1,000.

We reserve the right to terminate your contract if the value of your contract
becomes zero.

You generally may not make any surrenders or partial withdrawals once we
begin making payments under an annuity option.

Waiver of withdrawal charge rider

You may purchase an optional waiver of withdrawal charge rider at the time
of application. The "covered persons" under the rider are the owner and the
owner's spouse, unless the owner is a trust. If the owner is a trust, the
"covered persons" are the annuitant and the annuitant's spouse.

Under this rider, we will waive withdrawal charges on any withdrawals, if all
the following conditions apply to a "covered person":

.. a covered person becomes confined to a nursing home beginning at least 30
days after we issue your contract;

.. such covered person remains in the nursing home for at least 90 consecutive
days receiving nursing care; and

.. the covered person's confinement is prescribed by a doctor and medically
necessary because of a covered physical or mental impairment.

In addition, depending on your state, the rider may also provide for a
waiver of withdrawal charges if a covered person has been diagnosed with a
chronic, critical or terminal illness to the extent so provided in the rider.

You may not purchase this rider: (1) if either of the covered persons is
older than 74 years at application or (2) in most states, if either of the
covered persons was confined to a nursing home within the past two years.

There is a charge for this rider, as set forth in the Fee Tables. This
rider (and the related charges) will terminate on the contract's date of
maturity, upon your surrendering the contract, or upon your written request that
we terminate it.

For a more complete description of the terms and conditions of this
benefit, you should refer directly to the rider. We will provide you with a copy
on request. If you purchase this rider:

.. you will have access to a list of long-term care providers in your area who
provide special discounts to persons who belong to the national program.

You should carefully review the tax considerations for optional benefit
riders on page 35 before selecting this optional benefit rider.

Systematic withdrawal plan

Our optional systematic withdrawal plan enables you to preauthorize
periodic withdrawals. If you elect this plan, we will withdraw a percentage or
dollar amount from your contract on a monthly, quarterly, semiannual, or annual
basis, based upon your instructions. Unless otherwise directed, we will deduct
the requested amount from each applicable investment option in the ratio that
the value of each bears to the total value of your contract. Each systematic
withdrawal is subject to any withdrawal charge or market value adjustment that
would apply to an otherwise comparable non-systematic withdrawal. See "How will
the value of my investment in the contract change over time?" beginning on page
12, and "What fees and charges will be deducted from my contract?" beginning on
page 16. The same tax consequences also generally will apply.

The following conditions apply to systematic withdrawal plans:

.. You may elect the plan only if the total value of your contract equals
$25,000 or more.

.. The amount of each systematic withdrawal must equal at least $100.

.. If the amount of each withdrawal drops below $100 or the total value of your
contract becomes less that $5,000, we will suspend the plan and notify you.

.. You may cancel the plan at any time.

.. We reserve the right to modify the terms or conditions of the plan at any
time without prior notice.

WHAT HAPPENS IF THE OWNER OR THE ANNUITANT DIES BEFORE MY CONTRACT'S DATE OF
MATURITY?

We will pay a death benefit to the contract's beneficiary, depending on the
form of ownership and whether there is one annuitant or joint annuitants:

.. If your contract is owned by a single natural person and has a single
annuitant, the death benefit is payable on the earlier of the owner's death
and the annuitant's death.

.. If your contract is owned by a single natural person and has joint
annuitants, the death benefit is payable on the earliest of the owner's
death (whether or not the owner is also an annuitant) and the last
annuitant's death.

.. If your contract is owned by joint owners and has a single annuitant, the
death benefit is payable on the earliest of the first owner's death
(whether or not the owner is also an annuitant) and the annuitant's death.

.. If your contract is owned by joint owners and has joint annuitants, the
death benefit is payable on the earliest of the first owner's death
(whether or not the owner is also an annuitant) and the last annuitant's
death.

We calculate the death benefit value as of the day we receive, in proper
order at the John Hancock Annuity Servicing Office:

.. proof of death before the contract's date of maturity, and

.. any required instructions as to method of settlement.

We will generally pay the death benefit in a single sum to the beneficiary
you chose, unless:

.. the death benefit is payable because of the owner's death, the designated
beneficiary is the owner's spouse, and he or she elects to continue the
contract in force (we explain contract continuation by a spouse in the
section entitled "Distributions following death of owner," on page 34); or

.. an optional method of settlement is in effect. If you have not elected an
optional method of settlement, the beneficiary may do so. However, if the
death benefit is less than $5,000, we will pay it in a lump sum, regardless
of any election. You can find more information about optional methods of
settlement under "Annuity options" on page 32.

Standard death benefit

.. the total value of your contract, adjusted by any then-applicable market
value adjustment on the date we receive notice of death in proper order, or

.. the total amount of premium payments made, less any partial withdrawals.

Optional death benefit riders

You may elect a death benefit that differs from the standard death benefit
by purchasing an optional death benefit rider:

.. only if the rider is available in your state;

.. only when you apply for the contract;

.. if you elect the Enhanced Death Benefit rider, only if each owner and each
annuitant is under age 80 at the time you apply for the contract; and

.. if you elect the Earnings Enhancement Death Benefit rider, only if each
owner and each annuitant is under age 75 at the time you apply for the
ontract.

We may waive either or both of the last two restrictions for contracts purchased
prior to the date a rider was available in your state.

As long as an optional death benefit rider is in effect, you will pay the
monthly charge shown in the Fee Tables for that benefit. The rider and its
related charges terminates on:

.. the contract's date of maturity, or

.. upon your surrendering the contract, or

In addition, you may terminate the Enhanced Death Benefit rider at any time
by providing written notification to us at the John Hancock Annuity Servicing
Office shown on page 2. If you purchase an Earnings Enhancement Death Benefit
rider, however, you CANNOT request us to terminate the rider and its charges.

ENHANCED DEATH BENEFIT rider - under this rider, we will pay the greatest
of:

(1) the standard death benefit

.. the owner, if there is only one owner under your contract and the death
benefit is payable because the owner dies before the Maturity Date,

.. the oldest owner, if there are joint owners under your contract and the death
benefit is payable because either owner dies before the Maturity Date,

.. the annuitant, if there is only one annuitant under your contract and the
death benefit is payable because the annuitant dies before the Maturity Date,

If an owner is also an annuitant, we will generally consider that person to be
an "owner" instead of an "annuitant" for purposes of determining the rider's
measuring life.

For a more complete description of the terms and conditions of this
benefit, you should refer directly to the rider. We will provide you with a copy
on request.

You should carefully review the tax considerations for optional benefit
riders on page 35 before selecting this optional benefit rider.

The earnings enhancement amount is determined as follows:

.. if all of the owners and the annuitant are under age 70 on the date your
rider is issued, the earnings enhancement amount will be 40% of the
difference between the Standard Death Benefit (or Enhanced Death Benefit, if
that rider is in effect) and your "Net Premiums," up to a maximum benefit
amount of 80% of your "Adjusted Net Premiums" prior to the date of the
decedent's death;

is in effect) and your "Net Premiums," up to a maximum benefit amount of
50% of your "Adjusted Net Premiums" prior to the date of the decedent's
death; but

.. if there are joint annuitants under your contract, we will not count the age
of the older annuitant for either of these purposes unless the older
annuitant is also an owner.

For a more complete description of the terms and conditions of this
benefit, you should refer directly to the rider. We will provide you with a copy
on request.

WHAT OTHER BENEFITS CAN I PURCHASE UNDER A CONTRACT?

In addition to the enhanced death benefit and waiver of withdrawal charge
riders discussed above, we currently make available two other optional benefits
if your state permits and you are under age 75 when you apply for a contract.
These optional benefits are provided under riders that contain many terms and
conditions not set forth below. Therefore, you should refer directly to each
rider for more complete information. We will provide you with a copy on request.
We may make other riders available in the future.

.. is unable to perform at least 2 activities of daily living without human
assistance or has a cognitive impairment, AND

.. is receiving certain qualified services described in the rider.

The amount of the contribution (called the "Monthly Benefit") is shown in
the specifications page of the contract. However, the rider contains an
inflation protection feature that will increase the Monthly Benefit by 5% each
year after the 7th contract year. The specifications page of the contract also
contains a limit on how much the total value of the contract can be increased by
this rider (the "benefit limit"). The rider must be in effect for 7 years before
any increase will occur.

You may elect this rider only when you apply for the contract. Under our
current administrative rules, the Monthly Benefit (without regard to the
inflation protection feature) is equivalent to 1% of your initial premium, up to
a maximum premium of $300,000. We may reduce this $300,000 limit further,
however, if you own additional annuity contracts issued by John Hancock and its
affiliates that provide a similar benefit. The $300,000 limit applies only to
the calculation of the Monthly Benefit under the accumulated value enhancement
rider. (See "Limits on Premium Payments" on page 11 for a general description of
other premium limits under the contract).

You cannot elect this rider unless you have also elected the waiver of
withdrawal charge rider. There is a monthly charge for this rider as described
in the Fee Tables.

The rider will terminate if the contract terminates, if the covered person
dies, if the benefit limit is reached, if the owner is the covered person and
the ownership of the contract changes, or if, before annuity payments start, the
total value of the contact falls below an amount equal to 25% of your initial
premim payment. You may cancel the rider by written notice at any time. The
rider charge will terminate when the rider terminates.

In certain marketing materials, this rider may be referred to as
"CARESolutions Plus."

You should carefully review the tax considerations for optional benefit riders
on page 35 before selecting this optional benefit rider.

GUARANTEED RETIREMENT INCOME BENEFIT rider - under this rider, we will guarantee
the amount of annuity payments you receive, if the following conditions are
satisfied:

.. The date of maturity must be within the 30 day period following a contract
anniversary.

.. If the annuitant was age 45 or older on the date of issue, the contract
must have been in effect for at least 10 contract years on the date of
maturity and the date of maturity must be on or after the annuitant's 60th
birthday and on or before the annuitant's 90th birthday.

.. If the annuitant was less than age 45 on the date of issue, the contract
must have been in effect for at least 15 contract years on the date of
maturity and the date of maturity must be on or before the annuitant's 90th
birthday.

You cannot elect this rider at any time after your contract is issued. If
you elect this rider you need not choose to receive the guaranteed income
benefit that it provides. Rather, unless and until such time as you exercise
your option to receive a guaranteed income benefit under this rider, you will
continue to have the option of exercising any other right or option that you
would have under the contract (including withdrawal and annuity payment options)
if the rider had not been added to it. After you've held your contract for 10
years, you can terminate the rider by written request.

If you do decide to add this rider to your contract, and if you do
ultimately decide to take advantage of the guaranteed income it provides, we
will automatically provide that guaranteed income in the form of fixed payments
under our "Option A: life annuity with payments for guaranteed period" described
below under "Annuity options." The guaranteed period will automatically be a
number of years that the rider specifies, based on the annuitant's age at the
annuity date and whether your contract is purchased in connection with a
tax-qualified plan. (These specified periods range from 5 to 10 years.) You will
have no discretion to vary this form of payment, if you choose the guaranteed
income benefit under this rider.

We guarantee that the amount you can apply to this annuity payment option
will be at least equal to the amount of each premium you have paid, accumulated
at the rate(s) specified in the contract , but adjusted for any partial
withdrawals you have taken. The accumulation rates differ between (a) contract
value allocated to a guaranteed period or Money Market investment option
(currently 4%) and (b) contact value allocated to all other variable investment
options (currently 5%). Withdrawals reduce the accumulated amount in direct
proportion to the percentage of contract value that was reduced by the
withdrawal (including any withdrawal charges). After a withdrawal, the
accumulation rate(s) will only be applied to the remaining accumulated amount.
If your total contract value is higher than the amount we guarantee, we will
apply the higher amount to the annuity payment option instead of the guaranteed
amount.

There is a monthly charge for this rider, as described in the Fee Tables.
The rider (and the related charges) automatically terminate if your contract is
surrendered or the annuitant dies.

CAN I RETURN MY CONTRACT?

In most cases, you have the right to cancel your contract within 10 days
(or longer in some states ) after you receive it. To cancel your contract,
simply deliver or mail it to:

. JHVLICO at the address shown on page 2, or

. the JHVLICO representative who delivered the contract to you.

WHAT ADDITIONAL GUARANTEE APPLIES TO THE GUARANTEE PERIODS UNDER MY CONTRACT?

John Hancock Financial Services, Inc. ("JHFS") guarantees JHVLICO's
obligations with respect to any guarantee periods you have elected under the
contract on the date of this prospectus. JHFS' guarantee will also apply to any
new guarantee periods under your contract, unless and until we notify you
otherwise. (If we give you such notice, however, the JHFS guarantee would remain
in effect for all guarantee periods then had already started, and would be
inapplicable only to guarantee periods starting after the date of such notice.)
The JHFS guarantee does not relieve JHVLICO of any obligations under your
contract - - it is in addition to all of the rights and benefits that the
contract provides. There is no charge or cost to you for the JHFS guarantee, nor
are there any other disadvantages to you of having this additional guarantee.

Currently, JHVLICO's financial stability rating from A.M. Best Company,
Inc. is A++, the highest, based on the strength its direct parent, John Hancock
Life Insurance Company and the capital guarantee that JHFS (JHVLICO's ultimate
parent) has provided to JHVLICO. Standard & Poor's Corporation and Fitch IBCA
have assigned insurance claims-paying ability ratings to JHVLICO of AA, which
place JHVLICO in the third highest category by these rating agencies. Moody's
Investors Service, Inc. has assigned JHVLICO a financial strength rating of Aa3,
which is its fourth highest rating.

WHAT ARE THE TERMS OF THE ADDITIONAL GUARANTEE?

JHFS guarantees your full interest in any guarantee period. This means
that, if JHVLICO fails to honor any valid request to surrender, transfer, or
withdraw any amount from a guarantee period, or fails to allocate amounts from a
guarantee period to an annuity option when it is obligated to do so, JHFS
guarantees the full amount that you would have received, or value that you would
have been credited with, had JHVLICO fully met its obligations under your
contract. If a benefit becomes payable under the contract upon the death of an
owner or annuitant, JHFS guarantees the lesser of (a) the amount of your
contract value in any guarantee period on the date of death, increased by any
upward market value adjustment (but not decreased by any negative market value
adjustment) or (b) the total amount that the contract obligates JHVLICO to pay
by reason of such death. If JHVLICO fails to make payment when due of any amount
that is guaranteed by JHFS, you could directly request JHFS to satisfy JHVLICO's
obligation, and JHFS must do so. You would not have to make any other demands on
JHVLICO as a precondition to making a claim against JHFS under the guarantee.

ADDITIONAL INFORMATION

This section of the prospectus provides additional information that is not
contained in the Basic Information section on pages 13 through 24.

CONTENTS OF THIS SECTION STARTING ON PAGE

Description of JHVLICO .................................................... 26

How to find further information about JHVLICO and JHFS..................... 26

Who should purchase a contract? ........................................... 27

How we support the variable investment options ............................ 27

How we support the guarantee periods ...................................... 28

How the guarantee periods work ............................................ 28

The accumulation period ................................................... 30

The annuity period ........................................................ 31

Variable investment option valuation procedures ........................... 33

Distributions following death of owner .................................... 34

Miscellaneous provisions .................................................. 34

Tax information ........................................................... 35

Performance information ................................................... 42

Reports ................................................................... 42

Voting privileges ......................................................... 42

Certain changes ........................................................... 43

Distribution of contracts ................................................. 44

Experts ................................................................... 44

Registration statement .................................................... 45

Condensed Financial Information ........................................... 46

Appendix A - Details About Our Guarantee Periods .......................... 50

Appendix B - Example of Withdrawal Charge Calculation ..................... 52

Appendix C - Examples of Earnings Enhancement Death Benefit Calculation.... 54

DESCRIPTION OF JHVLICO

We are a wholly-owned subsidiary of John Hancock Life Insurance Company
("John Hancock"), a Massachusetts stock life insurance company. On February 1,
2000, John Hancock Mutual Life Insurance Company (which was chartered in
Massachusetts in 1862) converted to a stock company by "demutualizing" and
changed its name to John Hancock Life Insurance Company. As part of the
demutualization process, John Hancock became a subsidiary of John Hancock
Financial Services, Inc., a newly formed publicly-traded corporation. John
Hancock's home office is at John Hancock Place, Boston, Massachusetts 02117. As
of December 31, 2002, John Hancock's assets were approximately $88 billion and
it had invested approximately $575 million in JHVLICO in connection with
JHVLICO's organization and operation. It is anticipated that John Hancock will
from time to time make additional capital contributions to JHVLICO to enable us
to meet our reserve requirements and expenses in connection with our business.
John Hancock is committed to make additional capital contributions if necessary
to ensure that we maintain a positive net worth.

HOW TO FIND ADDITIONAL INFORMATION ABOUT JHVLICO AND JHFS

JHFS files numerous documents and reports with the SEC, under a law
commonly known as the "Exchange Act." This includes annual reports on Form 10-K,
quarterly reports on Form 10-Q, other reports on Form 8-K, and proxy statements.
JHVLICO and JHFS also file registration statements and other documents with the
SEC, in addition to any that they file under the Exchange Act.

These are the following reports and documents, which we "incorporate by
reference" into this prospectus:

.. Form 10-K of JHFS for the year ended December 31, 2002;

.. Form 10-Q of JHFS for the three month period ended March 31, 2003;

.. Form 8-K of JHFS filed on January 9, 2003; and

.. All other documents or reports that JHVLICO or JHFS subsequently files with
the SEC pursuant to Sections 13(a), 13(c), 14, or 15(d) of the Exchange Act
(Prior to 2003, JHVLICO also filed reports on Forms 10-K and 10-Q. However,
as discussed above under "What are the reasons for the additional
guarantee?", JHVLICO no longer intends to file such reports.

WHO SHOULD PURCHASE A CONTRACT?

.. traditional individual retirement annuity plans ("Traditional IRAs")
satisfying the requirements of Section 408 of the Code;

.. non-deductible IRA plans ("Roth IRAs") satisfying the requirements of
Section 408A of the Code;

.. SIMPLE IRA plans adopted under Section 408(p) of the Code;

.. Simplified Employee Pension plans ("SEPs") adopted under Section 408(k) of
the Code; and

.. annuity purchase plans adopted under Section 403(b) of the Code by public
school systems and certain other tax-exempt organizations.

We do not currently offer the contracts to every type of tax-qualified
plan, and we may not offer the contracts for all types of tax-qualified plans in
the future. In certain circumstances, we may also make the contracts available
for purchase under deferred compensation plans maintained by a state or
political subdivision or tax exempt organization under Section 457 of the Code
or by pension or profit-sharing plans qualified under section 401(a) of the
Code. We provide general federal income tax information for contracts purchased
in connection with tax qualified retirement plans beginning on page 37.

We may include certain requirements from the above sources in endorsements
or riders to the affected contracts. In other cases, we do not. In no event,
however, do we undertake to assure a contract's compliance with all plan, tax
law, and ERISA requirements applicable to a tax-qualified or non tax-qualified
retirement plan. Therefore, if you use or plan to use a contract in connection
with such a plan, you must consult with competent legal and tax advisers to
ensure that you know of (and comply with) all such requirements that apply in
your circumstances.

To accommodate "employer-related" pension and profit-sharing plans, we
provide "unisex" purchase rates. That means the annuity purchase rates are the
same for males and females. Any questions you have as to whether you are
participating in an "employer-related" pension or profit-sharing plan should be
directed to your employer. Any question you or your employer have about unisex
rates may be directed to the John Hancock Annuity Servicing Office.

HOW WE SUPPORT THE VARIABLE INVESTMENT OPTIONS

We hold the fund shares that support our variable investment options in
John Hancock Variable Annuity Account JF (the "Account"), a separate account
established by JHVLICO under Massachusetts law. The Account is registered as a
unit investment trust under the Investment Company Act of 1940 ("1940 Act").

The Account's assets, including the Series Funds' shares, belong to
JHVLICO. Each contract provides that amounts we hold in the Account pursuant to
the contracts cannot be reached by any other persons who may have claims against
us.

All of JHVLICO's general assets also support JHVLICO's obligations under
the contracts, as well as all of its other obligations and liabilities. These
general assets consist of all JHVLICO's assets that are not held in the Account
(or in another separate account) under variable annuity or variable life
insurance contracts that give their owners a preferred claim on those assets.

HOW WE SUPPORT THE GUARANTEE PERIODS

HOW THE GUARANTEE PERIODS WORK

.. withdraw all or a portion of any such amount from the contract,

.. allocate all or a portion of such amount to a new guarantee period or
periods of the same or different duration as the expiring guarantee period,
or

.. allocate all or a portion of such amount to one or more of the variable
investment options.

We currently make available guarantee periods with durations of five years.
For contracts issued before September 30, 2002, however, we may permit you to
select different durations.

If you select any guarantee period that extends beyond your contract's date
of maturity, your maturity date will automatically be changed to the annuitant's
95th birthday (or a later date, if we approve). We reserve the right to add or
delete guarantee periods for new allocations to or from those that are available
at any time.

Guaranteed interest rates

Each guarantee period has its own guaranteed rate. We may, at our
discretion, change the guaranteed rate for future guarantee periods. These
changes will not affect the guaranteed rates being paid on guarantee periods
that have already commenced. Each time you allocate or transfer money to a
guarantee period, a new guarantee period, with a new interest rate, begins to
run with respect to that amount. The amount allocated or transferred earns a
guaranteed rate that will continue unchanged until the end of that period.

---------------------------------------------------------------------
We make the final determination of guaranteed rates and guarantee
periods to be declared. We cannot predict or assure the level of any
future guaranteed rates or the availability of any future guarantee
periods.
---------------------------------------------------------------------

You may obtain information concerning the guaranteed rates applicable to
the various guarantee periods, and the durations of the guarantee periods
offered at any time, by calling the John Hancock Annuity Servicing Office at the
telephone number shown on page 2.

Calculation of market value adjustment ("MVA")

.. death benefits pursuant to your contract,

.. amounts you apply to an annuity option, and

.. amounts paid in a single sum in lieu of an annuity.

The market value adjustment increases or decreases your remaining value in
the guarantee period. If the value in that guarantee period is insufficient to
pay any negative MVA, we will deduct any excess from the value in your other
investment options pro-rata based on the value in each. If there is insufficient
value in your other investment options, we will in no event pay out more than
the surrender value of the contract.

Here is how the MVA works:

---------------------------------------------------------------------
We compare:

. the guaranteed rate of the guarantee period from which the
assets are being taken WITH

. the guaranteed rate we are currently offering for guarantee
periods of the same duration as remains on the guarantee
period from which the assets are being taken.

If the first rate exceeds the second by more than 1/2 %, the market
value adjustment produces an increase in your contract's value.

If the first rate does not exceed the second by at least 1/2 %, the
market value adjustment produces a decrease in your contract's value.
---------------------------------------------------------------------

For this purpose, we consider that the amount withdrawn from the guarantee
period includes the amount of any negative MVA and is reduced by the amount of
any positive MVA.

The mathematical formula and sample calculations for the market value
adjustment appear in Appendix A.

THE ACCUMULATION PERIOD

Your value in our variable investment options

Valuation of accumulation units

To determine the number of accumulation units that a specific transaction
will purchase or cancel, we use the following formula:

--------------------------------------------------
dollar amount of transaction
DIVIDED BY
value of one accumulation unit for the applicable
variable investment option at the time of such
transaction
--------------------------------------------------

Therefore, at any time prior to the date of maturity, the total value of
your contract in a variable investment option can be computed according to the
following formula:
-------------------------------------------------
number of accumulation units in the variable
investment options
TIMES
value of one accumulation unit for the applicable
variable investment option at that time
-------------------------------------------------

Your value in the guarantee periods

On any date, the total value of your contract in a guarantee period equals:

.. the amount of premium payments or transferred amounts allocated to the
guarantee period, MINUS

.. the amount of any withdrawals or transfers paid out of the guarantee
period, MINUS

.. the amount of any negative market value adjustments resulting from such
withdrawals or transfers, PLUS

.. the amount of any positive market value adjustments resulting from such
withdrawals and transfers, MINUS

.. the amount of any charges and fees deducted from that guarantee period,
PLUS

.. interest compounded daily on any amounts in the guarantee period from tiat
guarantee period.

THE ANNUITY PERIOD

Annuity payments are made to the annuitant, if still living. If more than
one annuitant is living at the date of maturity, the payments are made to the
younger of them.

Date of maturity

Unless we otherwise permit, the date of maturity must be

.. at least 6 months after the date the first premium payment is applied to
your contract, and

.. no later than the maximum age specified in your contract (normally age 95).

Subject always to these requirements, you may subsequently change the date
of maturity. The John Hancock Annuity Servicing Office must receive your new
selection at least 31 days prior to the new date of maturity, however. Also, if
you are selecting or changing your date of maturity for a contract issued under
a tax qualified plan, special limits apply. (See "Contracts purchased for a tax
qualified plan," beginning on page 37.)

Choosing fixed or variable annuity payments

During the annuity period, the total value of your contract must be
allocated to no more than four investment options. During the annuity period, we
do not offer the guarantee periods. Instead, we offer annuity payments on a
fixed basis as one investment option, and annuity payments on a variable basis
for EACH variable investment option.

We will generally apply (1) amounts allocated to the guarantee periods as
of the date of maturity to provide annuity payments on a fixed basis and (2)
amounts allocated to variable investment options to provide annuity payments on
a variable basis. If you are using more than four investment options on the date
of maturity, we will divide your contract's value among the four investment
options with the largest values (considering all guarantee periods as a single
option), pro-rata based on the amount of the total value of your contract that
you have in each.

Once annuity payments commence, you may not make transfers from fixed to
variable or from variable to fixed.

Selecting an annuity option

Each contract provides, at the time of its issuance, for annuity payments
to commence on the date of maturity pursuant to Option A: "life annuity with 10
years guaranteed" (discussed under "Annuity options" on page 32).

Prior to the date of maturity, you may select a different annuity option.
However, if the total value of your contract on the date of maturity is not at
least $5,000, Option A: "life annuity with 10 years guaranteed" will apply,
regardless of any other election that you have made. You may not change the form
of annuity option once payments commence.

If the initial monthly payment under an annuity option would be less than
$50, we may make a single sum payment equal to the total surrender value of your
contract on the date the initial payment would be payable. Such single payment
would replace all other benefits.

Subject to that $50 minimum limitation, your beneficiary may elect an
annuity option if:

.. you have not made an election prior to the annuitant's death;

.. the beneficiary is entitled to payment of a death benefit of at least
$5,000 in a single sum; and

.. the beneficiary notifies us of the election prior to the date the proceeds
become payable.

Variable monthly annuity payments

The amount of each subsequent variable annuity payment under that variable
investment option depends upon the investment performance of that variable
investment option.

Here's how it works:

.. we calculate the actual net investment return of the variable investment
option (after deducting all charges) during the period between the dates
for determining the current and immediately previous monthly payments.

.. if that actual net investment return exceeds the "assumed investment rate"
(explained below), the current monthly payment will be larger than the
previous one.

.. if the actual net investment return is less than the assumed investment
rate, the current monthly payment will be smaller than the previous one.

Assumed investment rate

The assumed investment rate for any variable portion of your annuity
payments will be 3 1/2 % per year, except as follows.

You may elect an assumed investment rate of 5% or 6%, provided such a rate
is available in your state. If you elect a higher assumed investment rate, your
initial variable annuity payment will also be higher. Eventually, however, the
monthly variable annuity payments may be smaller than if you had elected a lower
assumed investment rate.

Fixed monthly annuity payments

.. the applicable fixed annuity purchase rate shown in the appropriate table
in the contract; or

.. the rate we currently offer at the time of annuitization. (This current
rate may be based on the sex of the annuitant, unless prohibited by law.)

Annuity options

Here are some of the annuity options that are available, subject to the
terms and conditions described above. We reserve the right to make available
optional methods of payment in addition to those annuity options listed here and
in your contract.

OPTION B: LIFE ANNUITY WITHOUT FURTHER PAYMENT ON DEATH OF PAYEE - We will
make monthly payments to the payee as long as he or she lives. We guarantee no
minimum number of payments.

OPTION D: JOINT AND 1/2 SURVIVOR; OR JOINT AND 2/3 SURVIVOR - We will
provide payments monthly, quarterly, semiannually, and annually for the payee's
life and the life of the payee's spouse/joint payee. Upon the death of one
payee, we will continue payments (reduced to 1/2 or 2/3 the full payment amount)
to the surviving payee. All payments stop at the death of the surviving payee.

If the payee is more than 85 years old on the date of maturity, the
following two options are not available without our consent:

.. Option A: "life annuity with 5 years guaranteed" and

.. Option B: "life annuity without further payment on the death of payee."

VARIABLE INVESTMENT OPTION VALUATION PROCEDURES

DISTRIBUTIONS FOLLOWING DEATH OF OWNER

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IF DEATH BENEFITS ARE PAYABLE UPON YOUR DEATH BEFORE ANNUITY
PAYMENTS HAVE BEGUN:

. if the contract's designated beneficiary is your surviving
spouse, your spouse may elect to continue the contract in force
as the owner. In that case:

(1) we will not pay a death benefit, but the total value of
your contract will equal the death benefit that would have
been payable under your contract (including amounts
payable under any optional death benefit riders). Any
additional amount that we credit to your contract will be
allocated to the investment options in the same ratio as
the investment allocations held at the time of death and
will not be subject to any future surrender or withdrawal
charges; and

(2) your spouse may elect to add or continue any optional
death benefit riders under his or her name, subject to our
then current underwriting standards and the deduction of
rider charges at our then current rates. For purposes of
calculating the amount your spouse's Death Benefit, we
will treat the total value of your contract (including any
step-up in value) as the initial premium and the date the
rider is added or continued as the rider's date of issue.

. if the beneficiary is not your surviving spouse OR if the
beneficiary is your surviving spouse but chooses not to
continue the contract, the "entire interest" (as discussed
below) in the contract on the date of your death must be:

(1) paid out in full within five years of your death or

(2) applied in full towards the purchase of a life annuity on
the beneficiary with payments commencing within one year
of your death.

. the "entire interest" in the contract on the date of your death
equals the standard death benefit (or any enhanced death
benefit) and, if an earnings enhancement benefit rider is then
in force, any earnings enhancement death benefit amount, that
may then be payable.

IF YOU DIE ON OR AFTER ANNUITY PAYMENTS HAVE BEGUN:

. any remaining amount that we owe must be paid out at least as
rapidly as under the method of making annuity payments that is
then in use.
--------------------------------------------------------------------

Notice of the death of an owner or annuitant should be furnished promptly
to the John Hancock Annuity Servicing Office.

MISCELLANEOUS PROVISIONS

Assignment; change of owner or beneficiary

.. the rights of any assignees of record and

.. certain other conditions referenced in the contract.

An assignment, pledge, or other transfer may be a taxable event. See "Tax
information" below. Therefore, you should consult a competent tax adviser before
taking any such action.

TAX INFORMATION

Our income taxes

We are taxed as a life insurance company under the Internal Revenue Code
(the "Code"). The Account is taxed as part of our operations and is not taxed
separately.

Special Considerations for Optional Benefit Riders

If you have elected an optional death benefit rider, it is our
understanding that the charges relating to these riders are not subject to
current taxation. The Internal Revenue Service ("IRS") might take the position,
however, that each charge associated with the rider is deemed a partial
withdrawal from the contract subject to current income tax to the extent of any
gains and, if applicable, the 10% penalty tax for premature distributions from
annuities. We understand that you are not prevented from adding any of our
optional death benefit riders to your contract if it is issued as an IRA.
However, the law is unclear because IRAs generally may not invest in "life
insurance contracts." Therefore, it is possible that a Contract may be
disqualified as an IRA if it has an optional death benefit rider added to it. If
so, you may be subject to increased taxes.

At present, the IRS has not provided guidance as to the tax effect of
adding an optional Accumulated Value Enhancement rider or the optional Waiver of
Withdrawal Charge rider to an annuity contract. The IRS might take the position
that each charge associated with these riders is deemed a withdrawal from the
contract subject to current income tax to the extent of any gains and, if
applicable, the 10% penalty tax for premature withdrawals.

We do not currently report rider charges as partial withdrawals, but we may
do so in the future if we believe that the IRS would require us to report them
as such. You should consult a competent tax adviser before electing any of these
optional benefit riders.

Contracts not purchased to fund a tax qualified plan

Undistributed gains

We believe the contracts will be considered annuity contracts under Section
72 of the Code. This means that, ordinarily, you pay no federal income tax on
any gains in your contract until we actually distribute assets to you.

However, a contract owned other than by a natural person (e.g.,
corporations, partnerships, limited liability companies and other such entities)
does not generally qualify as an annuity for tax purposes. Any increase in value
therefore would constitute ordinary taxable income to such an owner in the year
earned.

Annuity payments

When we make payments under a contract in the form of an annuity, each
payment will result in taxable ordinary income to you, to the extent that each
such payment exceeds an allocable portion of your "investment in the contract"
(as defined in the Code). In general, your "investment in the contract" equals
the aggregate amount of premium payments you have made over the life of the
contract, reduced by any amounts previously distributed from the contract that
were not subject to tax.

Surrenders, withdrawals and death benefits

When we make a single sum payment from a contract, you have ordinary
taxable income, to the extent the payment exceeds your "investment in the
contract" (discussed above). Such a single sum payment can occur, for example,
if you surrender your contract before the date of maturity or if no annuity
payment option is selected for a death benefit payment.

Penalty for premature withdrawals

Puerto Rico annuity contracts not purchased to fund a tax qualified plan

Under the Puerto Rico tax laws, distributions from a contract not purchased
to fund a tax qualified plan ("Non-Qualified Contract") before annuitization are
treated as non-taxable return of principal until the principal is fully
recovered. Thereafter, all distributions are fully taxable. Distributions after
annuitization are treated as part taxable income and part non-taxable return of
principal. The amount excluded from gross income after annuitization is equal to
the amount of the distribution in excess of 3% of the total purchase payments
paid, until an amount equal to the total purchase payments paid has been
excluded. Thereafter, the entire distribution from a Non-Qualified Contract is
included in gross income. Puerto Rico does not currently impose an early
withdrawal penalty tax. Generally, Puerto Rico does not require income tax to be
withheld from distributions of income.

Diversification requirements

variable investment options. This could cause you to be taxed as if you were
the direct owner of your allocable portion of fund shares. We reserve the right
to amend the contracts or the choice of investment options to avoid, if
possible, current taxation to the owners.

Contracts purchased for a tax qualified plan

We have no responsibility for determining whether a particular retirement
plan or a particular contribution to the plan satisfies the applicable
requirements of the Code, or whether a particular employee is eligible for
inclusion under a plan. In general, the Code imposes limitations on the amount
of annual compensation that can be contributed into a tax-qualified plan, and
contains rules to limit the amount you can contribute to all of your
tax-qualified plans. Trustees and administrators of tax qualified plans may,
however, generally invest and reinvest existing plan assets without regard to
such Code imposed limitations on contributions. Certain distributions from tax
qualified plans may be transferred directly to another plan, unless funds are
added from other sources, without regard to such limitations.

Tax-free rollovers

For tax years beginning in 2002, if permitted under your plans, you may
make a tax-free rollover from:

.. a traditional IRA to another traditional IRA,

.. a traditional IRA to another tax-qualified plan, including a Section 403(b)
plan

.. any tax-qualified plan (other than a Section 457 deferred compensation plan
maintained by a tax-exempt organization) to a traditional IRA,

.. a Section 457 deferred compensation plan maintained by a tax-exempt
organization to another Section 457 deferred compensation plan maintained
by a tax-exempt organization and

.. a traditional IRA to a Roth IRA, subject to special restrictions discussed
below.

In addition, if your spouse survives you, he or she is permitted to
rollover your tax-qualified retirement account to another tax-qualified
retirement account in which your surviving spouse participates, to the extent
permitted by your surviving spouse' plan.

Traditional IRAs

.. 100% of compensation includable in your gross income, or

.. the IRA annual limit for that tax year. For tax years beginning in 2002,
2003 and 2004, the annual limit is $3,000 per year. For tax years beginning
in 2005, 2006 and 2007, the annual limit is $4,000 per year and, for the
tax year beginning in 2008, the annual limit is $5,000. After that, the
annual limit is indexed for inflation in $500 increments as provided in the
Code.

Deductibility of contributions. You may be entitled to a full deduction, a
partial deduction or no deduction for your traditional IRA contribution on your
federal income tax return.

The amount of your deduction is based on the following factors:

.. whether you or your spouse is an active participant in an employer
sponsored retirement plan,

.. your federal income tax filing status, and

.. your "Modified Adjusted Gross Income."

Your traditional IRA deduction is subject to phase out limits, based on
your Modified Adjusted Gross Income, which are applicable according to your
filing status and whether you or your spouse are active participants in an
employer sponsored retirement plan. You can still contribute to a traditional
IRA even if your contributions are not deductible.

The tax law requires that annuity payments under a traditional IRA contract
begin no later than April 1 of the year following the year in which the owner
attains age 70 1/2.

Roth IRAs

Distributions. If you hold your Roth IRA for at least five years the payee
will not owe any federal income taxes or early withdrawal penalties on amounts
paid out from the contract:

.. after you reach age 59 1/2,

.. on your death or disability, or

.. to qualified first-time home buyers (not to exceed a lifetime limitation of
$10,000) as specified in the Code.

the amount of your contributions is taxable to you as ordinary income and
possibly subject to the 10% penalty tax (unless certain exceptions apply as
specified in Code section 72(t).

Conversion to a Roth IRA. You can convert a traditional IRA to a Roth IRA,
unless

.. you have adjusted gross income over $100,000, or

.. you are a married taxpayer filing a separate return.

The Roth IRA annual contribution limit does not apply to converted amounts.

You must, however, pay tax on any portion of the converted amount that
would have been taxed if you had not converted to a Roth IRA. No similar
limitations apply to rollovers from one Roth IRA to another Roth IRA.

SIMPLE IRA plans

Simplified Employee Pension plans (SEPs)

Distributions. The requirements for minimum distributions from a SEP-IRA,
and rules on taxation of distributions from a SEP-IRA, are generally the same as
those discussed above for distributions from a traditional IRA.

Section 403(b) plans

.. on the employee's separation from service, death, or disability,

.. with respect to distributions of assets held under a 403(b) contract as of
December 31, 1988, and

.. transfers and exchanges to other products that qualify under Section
403(b).

Minimum distributions under a 403(b) contract must begin no later than
April 1 of the year following the year in which the employee reaches age 70 1/2
or, if later, retires

Pension and profit sharing plans qualified under Section 401(a)

In general, an employer may deduct from its taxable income premium payments
it makes under a qualified pension or profit-sharing plan described in Section
401(a) of the Code. Employees participating in the plan generally do not have to
pay tax on such contributions when made. Special requirements apply if a 401(a)
plan covers an employee classified under the Code as a "self-employed
individual" or as an "owner-employee."

Annuity payments (or other payments, such as upon withdrawal, death or
surrender) generally constitute taxable income to the payee; and the payee must
pay income tax on the amount by which a payment exceeds its allocable share of
the employee's "investment in the contract" (as defined in the Code), if any. In
general, an employee's "investment in the contract" equals the aggregate amount
of premium payments made by the employee.

The non-taxable portion of each annuity payment is determined, under the
Code, according to one formula if the payments are variable and a somewhat
different formula if the payments are fixed. In each case, speaking generally,
the formula seeks to allocate an appropriate amount of the investment in the
contract to each payment. Favorable procedures may also be available to
taxpayers who had attained age 50 prior to January 1, 1986.

Minimum distributions to the employee under an employer's pension and
profit sharing plan qualified under Section 401(a) of the Code must begin no
later than April 1 of the year following the year in which the employee (except
an employee who is a "5-percent owner" as defined in Code section 416) reaches
age 70 1/2 or, if later, retires.

"Top-heavy" plans

Section 457 deferred compensation plans

Under the provisions of Section 457 of the Code, you can exclude a portion
of your compensation from gross income if you participate in a deferred
compensation plan maintained by:

.. a state,

.. a political subdivision of a state,

.. an agency or instrumentality or a state or political subdivision of a
state, or

.. a tax-exempt organization.

The deferred compensation plan must satisfy several conditions, including
the following:

.. the plan must not permit distributions prior to your separation from
service (except in the case of an unforeseen emergency), and

.. all compensation deferred under the plan shall remain solely the employer's
property and may be subject to the claims of its creditors.

Elective Deferral Limits

A participant in a Section 403(b) plan, a Section 457 Plan or in certain
other types of tax-qualified pension and profit sharing plans that are commonly
referred to as "401(k)" plans and "SARSEPS" may elect annually to defer current
compensation so that it can be contributed to the applicable plan or plans. The
annual elective deferral limit is $11,000 for tax years beginning in 2002,
$12,000 for 2003, $13,000 for 2004, $14,000 for 2005 and $15,000 for 2006. After
that, for the tax years beginning in 2007, 2008 and 2009, the annual elective
deferral limit is indexed for inflation in $500 increments as provided in the
Code.

Elective Catch-up Limits

A participant in a Section 403(b) plan, a Section 457 Plan or in certain
other types of tax-qualified pension and profit sharing plans that are commonly
referred to as "401(k)" plans and "SARSEPS" who is age 50 or older may increase
contributions by an amount up to $1,000 for tax years beginning in 2002, $2,000
for 2003, $3,000 for 2004, $4,000 for 2005 and $5,000 for 2006. After that, for
the tax years beginning in 2007, the elective catch-up contribution limit is
indexed for inflation in $500 increments as provided in the Code.

Withholding on rollover distributions

Puerto Rico annuity contracts purchased to fund a tax-qualified plan

The provisions of the tax laws of Puerto Rico vary significantly from those
under the Internal Revenue Code of the United States with respect to the various
"tax qualified" plans described above. Although we may offer variable annuity
contracts in Puerto Rico in connection with "tax qualified" plans, the text of
the prospectus under the subsection "Contracts purchased for a tax qualified
plan" is inapplicable in Puerto Rico and should be disregarded.

See your own tax adviser

PERFORMANCE INFORMATION

Total return at the Account level is the percentage change between:

.. the value of a hypothetical investment in a variable investment option at
the beginning of the relevant period, and

.. the value at the end of such period.

At the Account level, total return reflects adjustments for:

.. the mortality and expense risk charges, and

.. the annual contract fee.

Total return at the Account level does not, however, reflect any premium
tax charges or any charges for optional benefit riders. Total return at the
Account level will be lower than that at the Series Fund level where comparable
charges are not deducted.

We may advertise "current yield" and "effective yield" for investments in
the Money Market investment option. Current yield refers to the income earned on
your investment in the Money Market investment option over a 7-day period and
then annualized. In other words, the income earned in the period is assumed to
be earned every 7 days over a 52-week period and stated as a percentage of the
investment.

Current yield and effective yield reflect all the recurring charges at the
Account level, but will not reflect any premium tax charge or any charge for
optional benefit riders.

REPORTS

At least annually, we will send you (1) a report showing the number and
value of the accumulation units in your contract and (2) the financial
statements of the Series Funds.

VOTING PRIVILEGES

At meetings of the Series Funds' shareholders, we will generally vote all
the shares of each Fund that we hold in the Account in accordance with
instructions we receive from the owners of contracts that participate in the
corresponding variable investment option.

CERTAIN CHANGES

Changes to the Account

We reserve the right, subject to applicable law, including any required
shareholder approval,

.. to add or delete variable investment options,

.. to change the underlying investment vehicles,

.. to operate the Account in any form permitted by law, and

.. to terminate the Account's registration under the 1940 Act, if such
registration should no longer be legally required.

Unless otherwise required under applicable laws and regulations, notice to
or approval of owners will not be necessary for us to make such changes.

Variations in charges or rates for eligible classes

We may allow a reduction in or the elimination of any contract charges, or
an increase in a credited interest rate for a guarantee period. The affected
contracts would involve sales to groups or classes of individuals under special
circumstances that we expect to result in a reduction in our expenses associated
with the sale or maintenance of the contracts, or that we expect to result in
mortality or other risks that are different from those normally associated with
the contracts.

The entitlement to such variation in charges or rates will be determined by
us based upon such factors as the following:

.. the size of the initial premium payment,

.. the size of the group or class,

.. the total amount of premium payments expected to be received from the group
or class and the manner in which the premium payments are remitted,

.. the nature of the group or class for which the contracts are being
purchased and the persistency expected from that group or class as well as
the mortality or morbidity risks associated with that group or class;

.. the purpose for which the contracts are being purchased and whether that
purpose makes it likely that the costs and expenses will be reduced, or

.. the level of commissions paid to selling broker-dealers or certain
financial institutions with respect to contracts within the same group or
class.

We will make any reduction in charges or increase in initial guarantee
rates according to our rules in effect at the time an application for a contract
is approved. We reserve the right to change these rules from time to time. Any
variation in charges or rates will reflect differences in costs and services,
will apply uniformly to all prospective contract purchasers in the group or
class, and will not be unfairly discriminatory to the interests of any owner.
Any variation in charges or fees will reflect differences in costs and services,
will apply uniformly to all prospective contract purchasers in the group or
class, and will not be unfairly discriminatory to the interests of any owner.

DISTRIBUTION OF CONTRACTS

Signator Investors, Inc. ("Signator") acts as principal distributor of the
contracts sold through this prospectus. Signator is registered as a
broker-dealer under the Securities Exchange Act of 1934, and a member of the
National Association of Securities Dealers, Inc. Signator's address is 197
Clarendon Street, Boston, Massachusetts 02116. Signator is a subsidiary of John
Hancock.

EXPERTS

Ernst & Young LLP have also audited the consolidated financial statements
of John Hancock Variable Life Insurance Company at December 31, 2002 and 2001,
and for each of the three years in the period ended December 31, 2002, and the
financial statements of John Hancock Variable Annuity Account JF at December 31,
2002 and for each of the periods indicated therein, as set forth in their
reports. We've included the financial statements of JHVLICO and the financial
statements of the Account in the Statement of Additional Information, which also
is a part of the registration statement that contains this prospectus. These
financial statements are included in the registration statement in reliance on
Ernst & Young LLP's reports, given on their authority as experts in accounting
and auditing.

REGISTRATION STATEMENT

page of SAI

DISTRIBUTION ............................................... 2

CALCULATION OF PERFORMANCE DATA ............................ 2

OTHER PERFORMANCE INFORMATION .............................. 16

CALCULATION OF ANNUITY PAYMENTS ............................ 16

ADDITIONAL INFORMATION ABOUT DETERMINING UNIT VALUES ....... 18

PURCHASES AND REDEMPTIONS OF FUND SHARES ................... 19

THE ACCOUNT ................................................ 19

DELAY OF CERTAIN PAYMENTS .................................. 20

LIABILITY FOR TELEPHONE TRANSFERS .......................... 20

VOTING PRIVILEGES .......................................... 21

FINANCIAL STATEMENTS ....................................... 22

CONDENSED FINANCIAL INFORMATION

JOHN HANCOCK VARIABLE ANNUITY ACCOUNT JF

The following table provides selected data for Revolution accumulation
shares for each investment option that was available during the period shown.
Revolution commenced operations on August 10, 1999.

Period from
Year Ended Year Ended Year Ended August 10, 1999
December 31, December 31, December 31, to December 31,
2002 2001 2000 1999
------------ ------------ ------------ ----------------

EQUITY INDEX
Accumulation share value:
Beginning of period............................................... $17.58 $20.22 $22.54 $10.00
End of period.................................................... $13.49 $17.58 $20.22 $22.54
Number of Accumulation Shares outstanding at end of period........ 673,856 804,600 507,320 76,098
LARGE CAP VALUE
Accumulation share value:
Beginning of period (Note 3)...................................... $11.38 $10.00 -- --
End of period................................................... $9.75 $11.38 -- --
Number of Accumulation Shares outstanding at end of period........ 483,868 334,667 -- --
LARGE CAP VALUE CORE(SM)
Accumulation share value:
Beginning of period............................................... $10.07 $10.71 $10.31 $10.00
End of period.................................................... $8.13 $10.07 $10.71 $10.31
Number of Accumulation Shares outstanding at end of period........ 826,588 1,056,790 520,128 92,493
LARGE CAP GROWTH
Accumulation share value:
Beginning of period (Note 3)...................................... $8.13 $10.00 -- --
End of period.................................................... $5.79 $8.13 -- --
Number of Accumulation Shares outstanding at end of period........ 167,749 77,662 -- --
LARGE CAP AGGRESSIVE GROWTH
Accumulation share value:
Beginning of period............................................... $8.09 $9.60 $11.97 $10.00
End of period.................................................... $5.48 $8.09 $9.60 $11.97
Number of Accumulation Shares outstanding at end of period........ 681,954 1,205,414 1,040,129 178,388
GROWTH & INCOME
Accumulation share value:
Beginning of period (Note 2)...................................... $7.36 $8.82 $10.00 --
End of period.................................................... $5.66 $7.36 $8.82 --
Number of Accumulation Shares outstanding at end of period........ 1,293,111 1,817,947 12,749 --
FUNDAMENTAL VALUE
Accumulation share value:
Beginning of period............................................... $10.73 $11.68 $10.43 $10.00
End of period.................................................... $8.75 $10.73 $11.68 $10.43
Number of Accumulation Shares outstanding at end of period........ 569,649 802,605 347,760 64,904
EARNINGS GROWTH
Accumulation share value:
Beginning of period (Note 1)...................................... $4.43 $7.11 $10.00 --
End of period.................................................... $2.96 $4.43 $7.11 --
Number of Accumulation Shares outstanding at end of period......... 1,222,455 1,636,323 629,910 --
FUNDAMENTAL GROWTH
Accumulation share value:
Beginning of period .............................................. $9.86 $14.74 $15.39 $10.00
End of period.................................................... $6.79 $9.86 $14.74 $15.39
Number of Accumulation Shares outstanding at end of period......... 337,037 589,572 525,081 38,912
SMALL/MID CAP CORE(SM)
Accumulation share value:
Beginning of period............................................... $13.06 $13.16 $12.73 $11.00
End of period.................................................... $10.94 $13.06 $13.16 $12.73
Number of Accumulation Shares outstanding at end of period........ 215,620 220,092 114,891 9,532

Period from
Year Ended Year Ended Year Ended August 10, 1999
December 31, December 31, December 31, to December 31,
2002 2001 2000 1999
-------------------------- ------------ ----------------

SMALL/MID CAP GROWTH
Accumulation share value:
Beginning of period ........................................... $20.79 $20.47 $18.98 $18.07
End of period ................................................ $16.19 $20.79 $20.47 $18.98
Number of Accumulation Shares outstanding at end of period ..... 200,020 242,085 136,439 14,779
SMALL CAP EMERGING GROWTH
Accumulation share value:
Beginning of period (Note 2) .................................. $7.90 $8.30 $10.00 --
End of period ................................................ $5.60 $7.90 $8.30 --
Number of Accumulation Shares outstanding at end of period ..... 110,281 79,406 535 --
SMALL CAP VALUE
Accumulation share value:
Beginning of period ........................................... $16.31 $13.87 $10.46 $10.00
End of period ................................................ $15.07 $16.31 $13.87 $10.46
Number of Accumulation Shares outstanding at end of period ..... 467,201 546,648 241,338 --
SMALL CAP GROWTH
Accumulation share value:
Beginning of period ........................................... $14.19 $16.44 $21.19 $14.27
End of period ................................................ $9.81 $14.19 $16.44 $21.19
Number of Accumulation Shares outstanding at end of period ..... 448,285 715,728 608,753 59,529
AIM V.I. PREMIER EQUITY
Accumulation share value:
Beginning of period ........................................... $8.57 $9.92 $11.77 $10.00
End of period ................................................ $5.90 $8.57 $9.92 $11.77
Number of Accumulation Shares outstanding at end of period ..... 1,779,003 3,090,645 2,548,369 302,772
AIM V.I. CAPITAL DEVELOPMENT - SERIES II CLASS
Accumulation share value:
Beginning of period (Note 4) .................................. $10.00 -- -- --
End of period ................................................ $7.45 -- -- --
Number of Accumulation Shares outstanding at end of period ..... 11,177 -- -- --
FIDELITY VIP CONTRAFUND(R) - SERVICE CLASS
Accumulation share value:
Beginning of period ........................................... $9.25 $10.69 $11.61 $10.00
End of period ................................................ $8.28 $9.25 $10.69 $11.61
Number of Accumulation Shares outstanding at end of period ..... 1,168,106 1,645,859 1,447,471 237,990
FIDELITY VIP GROWTH - SERVICE CLASS
Accumulation share value:
Beginning of period ........................................... $8.59 $10.57 $12.04 $10.00
End of period ................................................ $5.92 $8.59 $10.57 $12.04
Number of Accumulation Shares outstanding at end of period ..... 1,720,068 2,501,361 1,875,307 205,097
MFS INVESTORS GROWTH STOCK - INITIAL CLASS
Accumulation share value:
Beginning of period ........................................... $8.58 $11.45 $12.36 $10.00
End of period ................................................ $6.14 $8.58 $11.45 $12.36
Number of Accumulation Shares outstanding at end of period ..... 723,032 1,280,675 971,077 158,192
MFS RESEARCH - INITIAL CLASS
Accumulation share value:
Beginning of period ........................................... $8.67 $11.14 $11.86 $10.00
End of period ................................................ $6.46 $8.67 $11.14 $11.86
Number of Accumulation Shares outstanding at end of period ..... 621,468 970,571 672,010 73,452
INTERNATIONAL EQUITY INDEX
Accumulation share value:
Beginning of period (Note 4) .................................. $10.00 -- -- --
End of period ................................................ $6.77 -- -- --
Number of Accumulation Shares outstanding at end of period ..... 9,558 -- -- --
INTERNATIONAL OPPORTUNITIES
Accumulation share value:
Beginning of period (Note 3) .................................. $8.33 $10.00 -- --
End of period ................................................ $6.72 $8.33 -- --
Number of Accumulation Shares outstanding at end of period ..... 190,914 20,457 -- --

Period from
Year Ended Year Ended Year Ended August 10, 1999
December 31, December 31, December 31, to December 31,
2002 2001 2000 1999
-------------------------- -------------------------------

OVERSEAS EQUITY
Accumulation share value:
Beginning of period ................................................ $10.76 $11.65 $12.98 $12.24
End of period ..................................................... $9.96 $10.76 $11.65 $12.98
Number of Accumulation Shares outstanding at end of period .......... 174,540 128,318 63,735 5,361
FIDELITY VIP OVERSEAS - SERVICE CLASS
Accumulation share value:
Beginning of period ................................................ $7.73 $9.97 $12.48 $10.00
End of period ..................................................... $6.10 $7.73 $9.97 $12.48
Number of Accumulation Shares outstanding at end of period .......... 523,589 960,931 1,107,608 30,517
EMERGING MARKETS EQUITY
Accumulation share value:
Beginning of period (Note 3) ....................................... $9.85 $10.00 -- --
End of period ..................................................... $9.07 $9.85 -- --
Number of Accumulation Shares outstanding at end of period .......... 17,395 7,941 -- --
JANUS ASPEN WORLDWIDE GROWTH - SERVICE SHARES CLASS
Accumulation share value:
Beginning of period (Note 2) ....................................... $6.90 $9.04 $10.00 --
End of period ..................................................... $5.07 $6.90 $9.04 --
Number of Accumulation Shares outstanding at end of period .......... 229,005 322,018 128,709 --
REAL ESTATE EQUITY
Accumulation share value:
Beginning of period (Note 2) ....................................... $11.43 $10.95 $10.00 --
End of period ..................................................... $11.44 $11.43 $10.95 --
Number of Accumulation Shares outstanding at end of period .......... 217,276 138,332 1,766 --
HEALTH SCIENCES
Accumulation share value:
Beginning of period (Note 3) ....................................... $9.73 $10.00 -- --
End of period ..................................................... $7.69 $9.73 -- --
Number of Accumulation Shares outstanding at end of period .......... 129,645 100,786 -- --
FINANCIAL INDUSTRIES (Note 5)
Accumulation share value:
Beginning of period ................................................ $14.58 $17.90 $14.25 $10.00
End of period ..................................................... $11.60 $14.58 $17.90 $14.25
Number of Accumulation Shares outstanding at end of period .......... 542,851 855,100 642,376 113,876
MANAGED
Accumulation share value:
Beginning of period (Note 2) ....................................... $9.34 $9.73 $10.00 --
End of period ..................................................... $8.00 $9.34 $9.73 --
Number of Accumulation Shares outstanding at end of period .......... 1,159,355 868,814 89 --
SHORT - TERM BOND
Accumulation share value:
Beginning of period ................................................ $14.20 $13.30 $12.48 $12.34
End of period ..................................................... $14.82 $14.20 $13.30 $12.48
Number of Accumulation Shares outstanding at end of period .......... 621,051 440,240 126,421 15,433
BOND INDEX
Accumulation share value:
Beginning of period ................................................ $11.31 $10.63 $9.63 $9.65
End of period ..................................................... $12.28 $11.31 $10.63 $9.63
Number of Accumulation Shares outstanding at end of period .......... 737,019 833,929 327,502 47,232

Period from
Year Ended Year Ended Year Ended August 10, 1999
December 31, December 31, December 31, to December 31,
2002 2001 2000 1999
------------ ------------ ------------ ----------------

ACTIVE BOND
Accumulation share value:
Beginning of period (Note 3) ................................... $10.39 $10.00 -- --
End of period ................................................ $11.00 $10.39 -- --
Number of Accumulation Shares outstanding at end of period ....... 1,018,456 1,154,989 -- --
HIGH YIELD BOND
Accumulation share value:
Beginning of period ............................................ $9.12 $9.04 $10.27 $10.00
End of period .................................................. $8.60 $9.12 $9.04 $10.27
Number of Accumulation Shares outstanding at end of period ....... 477,166 644,021 333,028 48,898
GLOBAL BOND
Accumulation share value:
Beginning of period (Note 2) ................................... $10.31 $10.60 $10.00 --
End of period .................................................. $12.10 $10.31 $10.60 --
Number of Accumulation Shares outstanding at end of period ........ 141,303 71,857 -- --
MONEY MARKET
Accumulation share value:
Beginning of period (Note 3) ................................... $10.12 $10.00 -- --
End of period .................................................. $10.15 $10.12 -- --
Number of Accumulation Shares outstanding at end of period ....... 2,479,251 4,289,180 -- --

APPENDIX A - DETAILS ABOUT OUR GUARANTEE PERIODS

INVESTMENTS THAT SUPPORT OUR GUARANTEE PERIODS

We invest the non-unitized separate account assets, according to our
detailed investment policies and guidelines, in fixed income obligations,
including:

. corporate bonds,

. mortgages,

. mortgage-backed and asset-backed securities, and

. government and agency issues.

We invest primarily in domestic investment-grade securities. In addition,
we use derivative contracts only for hedging purposes, to reduce ordinary
business risks associated with changes in interest rates, and not for
speculating on future changes in the financial markets. Notwithstanding the
foregoing, we are not obligated to invest according to any particular strategy.

GUARANTEED INTEREST RATES

We declare the guaranteed rates from time to time as market conditions and
other factors dictate. We advise you of the guaranteed rate for a selected
guarantee period at the time we:

. receive your premium payment,

. effectuate your transfer, or

. renew your guarantee period

COMPUTATION OF MARKET VALUE ADJUSTMENT

/n/
---
/12/
(1+G) - 1
---------
1+C+0.005
where,

. G is the guaranteed rate in effect for the current guarantee period.

not currently offering such a guarantee period, we will declare a
guarantee rate, solely for this purpose, consistent with interest
rates currently available.

. N is the number of complete months from the date of withdrawal to the
end of the current guarantee period. (If less than one complete
month remains, N equals one unless the withdrawal is made on the last
day of the guarantee period, in which case no adjustment applies.)

SAMPLE CALCULATION 1: POSITIVE ADJUSTMENT

- -------------------------------------------------------------------------------------
Amount withdrawn or transferred $10,000
- -------------------------------------------------------------------------------------
Guarantee period 5 years
- -------------------------------------------------------------------------------------
Time of withdrawal or transfer beginning of 3rd year of guaranteed period
- -------------------------------------------------------------------------------------
Guaranteed rate (g) 4%
- -------------------------------------------------------------------------------------
Guaranteed rate for new 3 year 3%
guarantee (c)
- -------------------------------------------------------------------------------------
Remaining guarantee period (n) 36 months
- -------------------------------------------------------------------------------------

Market value adjustment:

36
--
12
10,000 x [ (1 + 0.004) -1] = 145.63
----------------
1 + 0.03 + 0.005

Amount withdrawn or transferred (adjusted for market value adjustment): $10,000
+ $145.63 = $10,145.63

SAMPLE CALCULATION 2: NEGATIVE ADJUSTMENT

- -------------------------------------------------------------------------------------
Amount withdrawn or transferred $10,000
- -------------------------------------------------------------------------------------
Guarantee period 5 years
- -------------------------------------------------------------------------------------
Time of withdrawal or transfer beginning of 3rd year of guaranteed period
- -------------------------------------------------------------------------------------
Guaranteed rate (g) 4%
- -------------------------------------------------------------------------------------
Guaranteed rate for new 3 year 5%
guarantee (c)
- -------------------------------------------------------------------------------------
Remaining guarantee period(n) 36 months
- -------------------------------------------------------------------------------------

Market value adjustment:

36
--
12
10,000 x [ (1 + 0.004) -1] = -420.50
----------------
1 + 0.05 + 0.005

Amount withdrawn or transferred (adjusted for market value adjustment): $10,000
- - $420.50 = $9,579.50

*All interest rates shown have been arbitrarily chosen for purposes of these
examples. In most cases they will bear little or no relation to the rates we are
actually guaranteeing at any time.

APPENDIX B - EXAMPLE OF WITHDRAWAL CHARGE CALCULATION

ASSUME THE FOLLOWING FACTS:

. On January 1, 2001, you make a $5,000 initial premium payment and we
issue you a contract.

. On January 1, 2002, you make a $1,000 premium payment.

. On January 1, 2003, you make a $1,000 premium payment.

. On January 1, 2004, the total value of your contract is $7,500
because of favorable investment earnings.

Now assume you make a partial withdrawal of $7,000 (no tax withholding) on
January 2, 2004. In this case, assuming no prior withdrawals, we would deduct a
CDSL of $289.36. We withdraw a total of $7,289.36 from your contract.

$7,000.00 -- withdrawal request payable to you
+ 289.36 -- withdrawal charge payable to us
----------
$7,289.36 -- total amount withdrawn from your contract

HERE IS HOW WE DETERMINE THE WITHDRAWAL CHARGE:

(1) We first distribute to you the $500 profit you have in your contract
($7,500 total contract value less $7,000 of premiums you have paid)
under the free withdrawal provision. thdrawal charge on your 2001
premium payment. We pay the remainder of $4,608 to you as a part of
your withdrawal request.

(2) Next we repay to you the $5,000 premium you paid in 2001 Under the
free withdrawal provision, $200 of that premium is charge free
($7,000 total premiums paid x 10%; less the $500 free withdrawal in
the same contract year described in paragraph 1 above). We assess a
withdrawal charge on the remaining balance of $4,800 from your 2001
premium. Because you made that premium payment 3 years ago, the
withdrawal charge percentage is 4%. We deduct the resulting $192
from your contract to cover the withdrawal charge on your 2001
premium payment. We pay the remainder of $4,608 to you as a part of
your withdrawal request.

$5,000
- 200 -- free withdrawal amount (payable to you)
------
$4,800
x .04
------
$ 192 -- withdrawal charge on 2001 premium payment (payable to us)

$4,800
- 192
------
$4,608 -- part of withdrawal request payable to you

(3) We NEXT deem the entire amount of your 2002 PREMIUM PAYMENT to be
withdrawn and we assess a withdrawal charge on that $1,000 amount.
Because you made this premium payment 2 years ago, the withdrawal
charge percentage is 5%. We deduct the resulting $50 from your
contract to cover the withdrawal charge on your 2002 premium
payment. We pay the remainder of $950 to you as a part of your
withdrawal request.

$1,000
x .05
------
$50 -- withdrawal charge on 2002 premium payment (payable to us)

$1,000
- 50
------
$950 -- part of withdrawal request payable to you

(4) We NEXT determine what additional amount we need to withdraw to
provide you with the total $7,000 you requested, after the
deduction of the withdrawal charge on that additional amount. We
have already allocated $500 from profits under paragraph 1 above,
$200 of additional free withdrawal amount under paragraph 2,
$4,608 from your 2001 premium payment under paragraph 2, and $950
from your 2003 premium payment under paragraph 3. Therefore, $742
is needed to reach $7,000.

$ 7,000 -- total withdrawal amount requested
- 500 -- profit
- 200 -- free withdrawal amount
-4,608 -- payment deemed from initial premium payment
- 950 -- payment deemed from 2002 premium payment
-----
$ 742 -- additional payment to you needed to reach $7,000

We know that the withdrawal charge percentage for this remaining amount is
6%, because you are already deemed to have withdrawn all premiums you paid prior
to 2003. We use the following formula to determine how much more we need to
withdraw:

Remainder due to you = Withdrawal needed - [applicable withdrawal charge
percentage times withdrawal needed]

$742 = x - [.06x]
$742 = .94x
$742/.94 = x
$789.36 = x

$ 789.36 -- deemed withdrawn from 2003 premium payment
-$742.00 -- part of withdrawal request payable to you
---------
$ 47.36 -- withdrawal charge on 2003 premium deemed withdrawn (payable
to us)

APPENDIX C - EXAMPLES OF EARNINGS ENHANCEMENT DEATH BENEFIT CALCULATION

The following are examples of the optional earnings enhancement death
benefit. We have assumed that there are earnings under the contracts in each
case. Actual investment performance may be greater or lower than the amounts
shown.

EXAMPLE 1 - EARNINGS ENHANCEMENT DEATH BENEFIT WITH STANDARD DEATH BENEFIT, NO
ADJUSTMENTS FOR WITHDRAWALS OR ADDITIONAL PREMIUM PAYMENTS

Assume:

.. You elect the earnings enhancement death benefit rider (but not the
enhanced death benefit rider) when you purchase your contract,

.. At the time of purchase, you and the annuitant are each under age 70 and
you pay an initial premium of $100,000,

.. You allocate the premium to a variable investment option, and make no
transfers of contract value to other investment options,

.. We determine the death benefit before the Maturity Date, in the fourth year
of your contract on a day when the total value of your contract is
$180,000.

Calculation of Standard Death Benefit

Calculation of Earnings Enhancement Amount

Calculation of Net Premiums and Adjusted Net Premiums - To determine "Net
Premiums," we reduce the premiums you paid ($100,000) by the amount of any
withdrawals in excess of earnings ($0, with no adjustment for withdrawal
charges). In this example, the Net Premiums is $100,000. To determine "Adjusted
Net Premiums," we reduce the Net Premiums ($100,000) by any premiums you made,
other than the initial premium, during the 12 months before we calculated the
death benefit ($0). In this example, the "Adjusted Net Premiums" is $100,000.

Calculation of Maximum Benefit Amount - The maximum benefit amount under
the earnings enhancement death benefit rider in this example is 80% of the
Adjusted Net Premiums ($100,000), or $80,000.

The earnings enhancement amount is 40% of the difference between the
standard death benefit ($180,000) and your Net Premiums ($100,000), up to the
maximum benefit amount. In this example, 40% of the difference is $32,000, which
is less than the maximum benefit amount ($80,000). The earnings enhancement
amount is therefor $32,000.

The total Death Benefit in this example is the standard death benefit
($180,000) plus the earnings enhancement amount ($32,000), or $212,000.

EXAMPLE 2 - EARNINGS ENHANCEMENT DEATH BENEFIT WITH ENHANCED DEATH BENEFIT,
ADJUSTED FOR WITHDRAWAL AND ADDITIONAL PREMIUM

Assume:

.. You elect the earnings enhancement death benefit rider and the enhanced
death benefit rider when you purchase your contract,

.. At the time of purchase, you are over age 70 and you pay an initial premium
of $100,000,

.. You allocate the premium to a variable investment option, and make no
transfers of contract value to other investment options,

.. On the seventh anniversary of your contract, your total value in the
contract is $175,000, which is the highest value on any anniversary date

.. On the day after the seventh anniversary of your contract, you make a
withdrawal of $80,000,

.. On the eighth anniversary of your contract, the total value of your
contract is $110,000, and you make an additional premium payment of $10,000
at the end of the eighth year of your contract

.. We determine the death benefit before the Maturity Date in the middle of
the ninth year of your contract, on a day when the total value of your
contract is $120,000.

Calculation of Enhanced Death Benefit

In this example, the enhanced death benefit is the highest of an
accumulated premium "roll-up" amount, a "highest anniversary value" amount and
the value of your contract on the date the death benefit is determined.

Calculation of Premium Roll-up - We calculate the amount of each premium
you have paid, accumulated at a 5% effective annual rate, minus any withdrawals.
In this example, the accumulated value of your initial premium, after adjustment
for the $80,000 withdrawal, is $65,319.75, and the accumulated value of your
second premium is $10,246.95. The total amount of the premium "roll-up" is
$75,566.70.

The total value of your contract on the date the death benefit is
determined ($120,000, with no market value adjustment) is higher than the
premium roll-up amount ($75,566.70) and higher than the "highest anniversary
value" amount ($105,000). The enhanced death benefit is therefore $120,000.

Calculation of Earnings Enhancement Amount

Calculation of Net Premiums and Adjusted Net Premiums - To determine "Net
Premiums," we reduce the premiums you paid by the amount of any withdrawals in
excess of earnings (including withdrawal charges). In this example, you withdrew
$80,000 at a time when your earnings were $75,000 and no withdrawal charges were
imposed. The amount withdrawn in excess of earnings is therefore $5,000. Net
Premiums is the amount of premiums paid ($110,000) less amounts withdrawn in
excess of earnings ($5,000), or $105,000. To determine "Adjusted Net Premiums,"
we reduce the Net Premiums ($105,000) by any premiums you made during the 12
months before we calculated the death benefit ($10,000). In this example, the
"Adjusted Net Premiums" is $95,000.

Calculation of Maximum Benefit Amount - The maximum benefit amount under
the earnings enhancement death benefit rider in this example is 50% of your
Adjusted Net Premiums ($95,000), or $47,500.

The earnings enhancement amount is 25% of the difference between the
enhanced death benefit ($120,000) and your Net Premiums ($105,000), up to the
maximum benefit amount. In this example, 25% of the difference is $3,750, which
is less than the maximum benefit amount ($47,500). The earnings enhancement
amount is therefor $3,750.

The total Death Benefit in this example is the enhanced death benefit
($120,000) plus the earnings enhancement amount ($3,750), or $123,750.

PROSPECTUS DATED MAY 1, 2003

DECLARATION VARIABLE ANNUITY

a deferred combination fixed and variable annuity contract issued by
JOHN HANCOCK VARIABLE LIFE INSURANCE COMPANY ("JHVLICO")
JOHN HANCOCK VARIABLE ANNUITY ACCOUNT JF

The contract enables you to earn fixed rates of interest that we guarantee
for stated periods of time ("guarantee periods") and investment-based
returns in the following variable investment options:

- ---------------------------------------------------------------------------------------------------------
VARIABLE INVESTMENT OPTIONS: UNDERLYING FUND MANAGED BY:

EQUITY OPTIONS:
Equity Index. . . . . . . . . . . SSgA Funds Management, Inc.
Growth & Income . . . . . . . . . Independence Investment LLC and Putnam Investment Management, LLC
Fundamental Growth. . . . . . . . Putnam Investment Management, LLC
Small Cap Growth. . . . . . . . . John Hancock Advisers, LLC
International Opportunities . . . T. Rowe Price International, Inc.
Financial Industries. . . . . . . John Hancock Advisers, LLC

BOND & MONEY MARKET OPTIONS:
Active Bond . . . . . . . . . . . John Hancock Advisers, LLC
Money Market. . . . . . . . . . . Wellington Management Company, LLP
- ---------------------------------------------------------------------------------------------------------

The variable investment options shown on page 1 are those available as of
the date of this prospectus. We may add or delete variable investment options in
the future.

When you select one or more of these variable investment options, we invest
your money in the corresponding investment option(s) of the John Hancock
Variable Series Trust I (the " Series Fund"). In this prospectus, the investment
options of the Series Fund are referred to as "funds." In the prospectus for the
Series Fund, the investment options may also be referred to as "funds,"
"portfolios" or "series."

The Series Fund is a so-called "series" type mutual fund registered with
the Securities and Exchange Commission ("SEC"). The investment results of each
variable investment option you select will depend on those of the corresponding
fund of the Series Fund. Each of the funds is separately managed and has its own
investment objective and strategies. Attached at the end of this prospectus is a
prospectus for the Series Fund. The Series Fund prospectus contains detailed
information about each available fund. Be sure to read those prospectuses before
selecting any of the variable investment options shown on page 1.

The annuity described in this prospectus may be sold on a group basis. If
you purchase the annuity under a group contract, you will be issued a group
certificate. If that is the case, the word "contract" as used in this prospectus
should be interpreted as meaning the certificate issued to you under the group
contract.

JOHN HANCOCK ANNUITY SERVICING OFFICE
-------------------------------------

MAIL DELIVERY
-------------
P.O. Box 772
Boston, MA 02117

OVERNIGHT DELIVERY
------------------
John Hancock Annuity Image Operations
27 Dry Dock Avenue, Second floor
South Boston, MA 02110

PHONE: 1-800-824-0335

FAX: 1-617-572-1571

********************************************************************************

Please note that the SEC has not approved or disapproved these securities,
or determined if this prospectus is truthful or complete. Any representation to
the contrary is a criminal offense.

GUIDE TO THIS PROSPECTUS

This prospectus contains information that you should know before you buy a
contract or exercise any of your rights under the contract. We have arranged the
prospectus in the following way:

. The first section contains an "INDEX OF KEY WORDS."

. Behind the index is the "FEE TABLE." This section highlights the
various fees and expenses you will pay directly or indirectly, if you
purchase a contract.

. The next section is called "BASIC INFORMATION." It contains basic
information about the contract presented in a question and answer
format. You should read the Basic Information before reading any other
section of the prospectus.

. Behind the Basic Information is "ADDITIONAL INFORMATION." This section
gives more details about the contract. It generally does not repeat
information contained in the Basic Information.

. "CONDENSED FINANCIAL INFORMATION" follows the "Additional
Information." This gives some basic information about the size and
past performance of the variable investment options.

The Series Fund's prospectus is attached at the end of this prospectus. You
should save these prospectuses for future reference.

- --------------------------------------------------------------------------------
IMPORTANT NOTICES

INDEX OF KEY WORDS

We define or explain each of the following key words used in this
prospectus on the pages shown below:

KEY WORD PAGE

Accumulation units................................... 24
Annuitant............................................ 9
Annuity payments..................................... 11
Annuity period....................................... 11
Contract year........................................ 9
Date of issue........................................ 9
Date of maturity..................................... 25
Free withdrawal amount............................... 14
Funds................................................ 2
Guarantee periods.................................... 2
Investment options................................... 12
Market value adjustment.............................. 22
Premium payments..................................... 9
Surrender value...................................... 15
Surrender............................................ 14
Variable investment options.......................... cover
Withdrawal charge.................................... 14
Withdrawal........................................... 14

FEE TABLES

THE FOLLOWING TABLES DESCRIBE THE FEES AND EXPENSES THAT YOU WILL PAY WHEN
BUYING, OWNING AND SURRENDERING A DECLARATION VARIABLE ANNUITY CONTRACT. THE
FIRST TABLE DESCRIBES THE CHARGES THAT YOU WILL PAY AT THE TIME THAT YOU BUY THE
CONTRACT, SURRENDER THE CONTRACT, OR TRANSFER ACCOUNT VALUE BETWEEN INVESTMENT
OPTIONS. STATE PREMIUM TAXES MAY ALSO BE DEDUCTED.

- -------------------------------------------------------------------------------
Contractowner Transaction Expenses Declaration Variable Annuity
- -------------------------------------------------------------------------------
Maximum Withdrawal Charge (as % of amount 6% within 2 years
withdrawn or surrendered)/1/ 5% within 4 years
4% within 5 years
3% within 6 years
2% within 7 years
0% thereafter
- -------------------------------------------------------------------------------

/1/This charge is taken upon withdrawal or surrender within the specified
period of years measured from the date of premium payment.

THE NEXT TABLE DESCRIBES THE FEES AND EXPENSES THAT YOU WILL PAY
PERIODICALLY DURING THE TIME YOU OWN THE CONTRACT. THIS TABLE DOES NOT INCLUDE
FEES AND EXPENSES PAID AT THE FUND LEVEL.

- -------------------------------------------------------------------------------
Declaration Variable Annuity
- -------------------------------------------------------------------------------
Maximum Annual Contract Fee/2/ $50
- -------------------------------------------------------------------------------
Current Annual Contract Fee/3/ $30
- -------------------------------------------------------------------------------
Separate Account Annual Expenses
(as a percentage of average
account value)/4/
CONTRACTS WITH INITIAL PREMIUM
PAYMENT LESS THAN $250,000:
Mortality and Expense Risk 0.90%
Charge 0.35%
Administrative Services Charge -----
Total Separate Account Annual 1.25%
Expenses
CONTRACTS WITH INITIAL PREMIUM
PAYMENT OF $250,000 OR MORE:
Mortality and Expense Risk 0.90%
Charge 0.10%
Administrative Services Charge -----
Total Separate Account Annual 1.00%
Expenses
- -------------------------------------------------------------------------------
Optional Benefit Rider Charges/5/
- -------------------------------------------------------------------------------
Enhanced "Stepped-Up" Death 0.15% of your contract's total value
Benefit Rider
- -------------------------------------------------------------------------------
Accidental Death Benefit Rider 0.10% of your contract's total value
- -------------------------------------------------------------------------------
Nursing Home Waiver 0.05% of that portion of your contract's
total value attributable to premiums that
are still subject to withdrawal charges
- -------------------------------------------------------------------------------

/2/This charge is not currently imposed, and would only apply to contracts
of less than $10,000.

/3/This charge applies only to contracts of less than $10,000. It is taken
at the end of each contract year but, if you surrender a contract before
then, it will be taken at the time of surrender.

/4/This charge only applies to that portion of account value held in the
variable investment options. The charge does not apply to amounts in the
guarantee periods.

/5/Charges for optional benefit riders are assessed monthly. The monthly
charge is 1/12th of the annual charge shown in the table.

THE NEXT TABLE DESCRIBES THE MINIMUM AND MAXIMUM TOTAL OPERATING EXPENSES
CHARGED BY THE FUNDS THAT YOU MAY PAY PERIODICALLY DURING THE TIME YOU OWN A
DECLARATION VARIABLE ANNUITY CONTRACT. MORE DETAIL CONCERNING EACH FUND'S FEES
AND EXPENSES IS CONTAINED IN THE SERIES FUND'S PROSPECTUS.

- --------------------------------------------------------------------------------------------------------------------
Total Annual Fund Operating
Expenses Minimum Maximum
- --------------------------------------------------------------------------------------------------------------------

Range of expenses that are deducted from fund assets, 0.23% 1.55%
including management fees, distribution and/ or service
(12b-1) fees, and other expenses
- --------------------------------------------------------------------------------------------------------------------
Range of expenses after taking account of certain 0.23% 1.24%*
reimbursements or waivers of expenses and fees
- --------------------------------------------------------------------------------------------------------------------

* Under its current investment management agreements with the John Hancock
Variable Series Trust I ("JHVST"), John Hancock Life Insurance Company has
contractually agreed to reimburse each JHVST fund when the fund's "other
fund expenses" exceed 0.10% of its average daily net assets. The agreements
will remain in effect until May 1, 2004, and may be renewed each year
thereafter by the John Hancock Variable Series Trust I. The following table
lists the JHVST funds available under your contract that are subject to
these agreements. See the prospectus for the Series Fund for other
information on reimbursement or waiver arrangements affecting the funds.

THE NEXT TABLE DESCRIBES FUND LEVEL FEES AND EXPENSES FOR EACH OF THE FUNDS.
MORE DETAIL CONCERNING EACH FUND'S FEES AND EXPENSES IS CONTAINED IN THE
PROSPECTUS FOR THE SERIES FUND.

- --------------------------------------------------------------------------------------------------------------------------
TOTAL FUND TOTAL FUND
DISTRIBUTION OTHER OPERATING OPERATING OPERATING
INVESTMENT AND EXPENSES EXPENSES EXPENSES
MANAGEMENT SERVICE (12B-1) WITHOUT WITHOUT EXPENSE WITH
FUND NAME FEE FEES REIMBURSEMENT REIMBURSEMENT REIMBURSEMENT REIMBURSEMENT
- --------------------------------------------------------------------------------------------------------------------------

EXAMPLES

THE FOLLOWING TWO EXAMPLES ARE INTENDED TO HELP YOU COMPARE THE COST OF
INVESTING IN A DECLARATION VARIABLE ANNUITY CONTRACT WITH THE COST OF INVESTING
IN OTHER VARIABLE ANNUITY CONTRACTS. THESE COSTS INCLUDE CONTRACT OWNER
TRANSACTION EXPENSES, CONTRACT FEES, SEPARATE ACCOUNT ANNUAL EXPENSES AND FUND
FEES AND EXPENSES.

THE FIRST EXAMPLE ASSUMES THAT YOU INVEST $10,000 IN AN "ALL RIDER"
CONTRACT WITH THE FOLLOWING OPTIONAL BENEFIT RIDERS: ENHANCED "STEPPED-UP"DEATH
BENEFIT RIDER, ACCIDENTAL DEATH BENEFIT RIDER AND NURSING HOME WAIVER RIDER. THE
FIRST EXAMPLE ALSO ASSUMES THAT YOUR INVESTMENT HAS A 5% RETURN EACH YEAR AND
ASSUMES THE MAXIMUM ANNUAL CONTACT FEE AND THE MAXIMUM FEES AND EXPENSES OF ANY
OF THE FUNDS. ALTHOUGH YOUR ACTUAL COSTS MAY BE HIGHER OR LOWER, BASED ON THESE
ASSUMPTIONS, YOUR COSTS WOULD BE:

Declaration Variable Annuity - maximum fund-level total operating expenses

------------------------------------------------------------------------------------------
1 YEAR 3 YEARS 5 YEARS 10 YEARS
------------------------------------------------------------------------------------------

(1) IF YOU SURRENDER YOUR ALL
RIDER CONTRACT AT THE END OF
THE APPLICABLE TIME PERIOD: $829 $1396 $1988 $3451
------------------------------------------------------------------------------------------
(2) IF YOU ANNUITIZE YOUR ALL
RIDER CONTRACT AT THE END OF THE
APPLICABLE TIME PERIOD: $289 $ 948 $1631 $3451
------------------------------------------------------------------------------------------
(3) IF YOU DO NOT SURRENDER YOUR
ALL RIDER CONTRACT: $289 $ 948 $1631 $3451
------------------------------------------------------------------------------------------

ALTHOUGH YOUR ACTUAL COSTS MAY BE HIGHER OR LOWER, BASED ON THESE
ASSUMPTIONS, YOUR COSTS WOULD BE:

Declaration Variable Annuity - minimum fund-level total operating expenses

------------------------------------------------------------------------------------------

1 YEAR 3 YEARS 5 YEARS 10 YEARS
------------------------------------------------------------------------------------------

(1) IF YOU SURRENDER YOUR NO
RIDER CONTRACT AT THE END OF
THE APPLICABLE TIME PERIOD: $695 $930 $1170 $1813
------------------------------------------------------------------------------------------
(2) IF YOU ANNUITIZE YOUR NO
RIDER CONTRACT AT THE END OF
THE APPLICABLE TIME PERIOD: $155 $480 $ 829 $1813
------------------------------------------------------------------------------------------
(3) IF YOU DO NOT SURRENDER
YOUR NO RIDER CONTRACT: $155 $480 $ 829 $1813
------------------------------------------------------------------------------------------

BASIC INFORMATION

This "Basic Information" section provides answers to commonly asked questions
about the contract. Here are the page numbers where the questions and answers
appear:

QUESTION STARTING ON PAGE
-------- ----------------

What is the contract?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Who owns the contract?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Is the owner also the annuitant?. . . . . . . . . . . . . . . . . . . . . . . . . . 9

How can I invest money in a contract? . . . . . . . . . . . . . . . . . . . . . . . 9

How will the value of my investment in the contract change over time? . . . . . . . 11

What annuity benefits does the contract provide?. . . . . . . . . . . . . . . . . . 11

To what extent can JHVLICO vary the terms and conditions of the contracts?. . . . . 12

What are the tax consequences of owning a contract? . . . . . . . . . . . . . . . . 12

How can I change my contract's investment allocations?. . . . . . . . . . . . . . . 12

What fees and charges will be deducted from my contract?. . . . . . . . . . . . . . 14

How can I withdraw money from my contract?. . . . . . . . . . . . . . . . . . . . . 15

What happens if the annuitant dies before my contract's date of maturity? . . . . . 17

What additional guarantee applies to the guarantee periods under my contract? . . . 18

What are the terms of the additional guarantee? . . . . . . . . . . . . . . . . . . 18

WHAT IS THE CONTRACT?

The contract is a deferred payment variable annuity contract. An "annuity
contract" provides a person (known as the "annuitant" or "payee") with a series
of periodic payments. Because this contract is also a "deferred payment"
contract, the annuity payments will begin on a future date, called the
contract's "date of maturity." Under a "variable annuity" contract, the amount
you have invested can increase or decrease in value daily based upon the value
of the variable investment options chosen. If your annuity is provided under a
master group contract, the term "contract" as used in this prospectus refers to
the certificate you will be issued and not to the master group contract.

WHO OWNS THE CONTRACT?

IS THE OWNER ALSO THE ANNUITANT?

HOW CAN I INVEST MONEY IN A CONTRACT?

Premium payments

We call the investments you make in your contract premiums or premium
payments. In general, you need at least a $1,000 initial premium payment to
purchase a contract. If you choose to contribute more money into your contract,
each subsequent premium payment must also be at least $500. If you deposit money
directly from your bank account, your subsequent premium payments can be as
small as $100.

Applying for a contract

Once we receive your initial premium payment and all necessary information,
we will issue your contract and invest your initial premium payment within two
business days. If the information is not in good order, we will contact you to
get the necessary information. If for some reason, we are unable to complete
this process within 5 business days, we will either send back your money or get
your permission to keep it until we get all of the necessary information.

In certain situations, we will issue a contract upon receiving the order of
your broker-dealer or financial institution, but delay the effectiveness of the
contract until we receive your signed application. In those situations, if we do
not receive your signed application within our required time period, we will
deem the contract void from the beginning and return your premium payment.

We measure the years and anniversaries of your contract from its date of
issue. We use the term contract year to refer to each period of time between
anniversaries of your contract's date of issue.

Limits on premium payments

the annuitant is alive and the contract is in force, you can make premium
payments at any time before the date of maturity. However,

- ---------------------------------------------------------------------------
YOU MAY NOT MAKE ANY PREMIUM
PAYMENTS AFTER THE ANNUITANT
IF YOUR CONTRACT IS USED TO FUND REACHES AGE
- ---------------------------------------------------------------------------
a "tax qualified plan"* 70 1/2**
- ---------------------------------------------------------------------------
a non-tax qualified plan 84 1/2
- ---------------------------------------------------------------------------

* as that term is used in "Tax Information," beginning on page 29.
** except for a Roth IRA, which has no age limit.

We will not issue a contract if the proposed annuitant is older than age
84. We may waive any of these limits, however.

Ways to make premium payments

Premium payments made by check or money order should be:

.. drawn on a U.S. bank,

.. drawn in U.S. dollars, and

.. made payable to "John Hancock."

We will not accept credit card checks. Nor will we accept starter or third
party checks that fail to meet our administrative requirements. Premium payments
after the initial premium payment should be sent to the John Hancock Annuity
Servicing Office at the address shown on page 2 of this prospectus. We will also
accept premium payments by wire. We will accept your initial premium payment by
exchange from another insurance company. You can find information about wire
payments under "Premium payments by wire," below. You can find information about
other methods of premium payment by contacting your JHVLICO representative or by
contacting the John Hancock Annuity Servicing Office.

Once we have issued your contract and it becomes effective, we credit you
with any additional premiums you pay as of the day we receive them at the John
Hancock Annuity Servicing Office.

Premium payments by wire

.. issue a contract;

.. accept premium payments; or

.. allow other transactions.

After we issue your contract, subsequent premium payments may be
transmitted by wire through your bank. Information about our bank, our account
number, and the ABA routing number may be obtained from the John Hancock Annuity
Servicing Office. Banks may charge a fee for wire services.

HOW WILL THE VALUE OF MY INVESTMENT IN THE CONTRACT CHANGE OVER TIME?

Like a regular mutual fund, each fund deducts investment management fees
and other operating expenses. These expenses are shown in the Fee Tables.
However, unlike a mutual fund, we will also deduct charges relating to the
annuity guarantees and other features provided by the contract. These charges
reduce your investment performance and the amount we credit to your contract in
any variable investment option. We describe these charges under "What fees and
charges will be deducted from my contract?" beginning on page 14.

The amount you've invested in a guarantee period will earn interest at the
rate we have set for that period. The interest rate depends upon the length of
the guarantee period you select. In states where approved, we currently make
available various guarantee periods with durations of up to five years. As long
as you keep your money in a guarantee period until its expiration date, we bear
all the investment risk on that money.

However, if you prematurely transfer, "surrender" or otherwise withdraw
money from a guarantee period we will increase or reduce the remaining value in
your contract by an amount that approximates the impact that any changes in
interest rates would have had on the market value of a debt instrument with
terms comparable to that guarantee period. This "market value adjustment" (or
"MVA") imposes investment risks on you. We describe how the market value
adjustments work in "Calculation of market value adjustment ("MVA")" beginning
on page 22.

At any time before the date of maturity, the total value of your contract
equals:

.. the total amount you invested,

.. minus all charges we deduct,

.. minus all withdrawals you have made,

.. plus or minus any positive or negative MVA's that we have made at the
time of any premature withdrawals or transfers you have made from a
guarantee period,

.. plus or minus each variable investment option's positive or negative
investment return that we credit daily to any of your contract's value
daily while it is in that option, and

.. plus the interest we credit to any of your contract's value while it is
in a guarantee period.

WHAT ANNUITY BENEFITS DOES A CONTRACT PROVIDE?

If your contract is still in effect on its date of maturity, it enters what
is called the annuity period. During the annuity period, we make a series of
fixed or variable payments to you as provided under one of our several annuity
options. The form in which we will make the annuity payments, and the proportion
of such payments that will be on a fixed basis and on a variable basis, depend
on the elections that you have in effect on the date of maturity. Therefore, you
should exercise care in selecting your date of maturity and your choices that
are in effect on that date.

You should carefully review the discussion under "The annuity period,"
beginning on page 25, for information about all of these choices you can make.

TO WHAT EXTENT CAN JHVLICO VARY THE TERMS AND CONDITIONS OF THE CONTRACTS?

State law insurance requirements

Variations in charges or rates

We may vary the charges, guarantee periods, and other terms of our
contracts where special circumstances result in sales or administrative
expenses, mortality risks or other risks that are different from those normally
associated with the contracts. These include the types of variations discussed
under "Certain changes" in the Additional Information section of this
prospectus.

WHAT ARE THE TAX CONSEQUENCES OF OWNING A CONTRACT?

In most cases, no income tax will have to be paid on amounts you earn under
a contract until these earnings are paid out. All or part of the following
distributions from a contract may constitute a taxable payout of earnings:

.. partial withdrawal (including systematic withdrawals),

.. full withdrawal ("surrender"),

.. payment of any death benefit proceeds, and

.. periodic payments under one of our annuity payment options.

How much you will be taxed on distribution is based upon complex tax rules and
depends on matters such as:

.. the type of the distribution,

.. when the distribution is made,

.. the nature of any tax qualified retirement plan for which the contract is
being used, if any, and

.. the circumstances under which the payments are made.

If your contract is issued in connection with a tax-qualified retirement
plan, all or part of your premium payments may be tax-deductible.

HOW CAN I CHANGE MY CONTRACT'S INVESTMENT ALLOCATIONS?

Allocation of premium payments

When you apply for your contract, you specify the variable investment
options or guarantee periods (together, your investment options) in which your
premium payments will be allocated. You may change this investment allocation
for future premium payments at any time. Any change in allocation will be
effective as of receipt of your request at the John Hancock Annuity Servicing
Office.

Currently, you may use a maximum of 18 investment options over the life of
your contract. For purposes of this limit, each contribution or transfer of
assets into a variable investment option or guarantee period that you are not
then using counts as one "use" of an investment option, even if you had used
that option at an earlier time. Renewing a guarantee period upon its expiration
does not count as a new use, however, if the new guarantee period has the same
number of years as the expiring one.

Transferring your assets

Up to 12 times during each year of your contract, you may transfer:

.. all or part of the assets held in one VARIABLE INVESTMENT OPTION to any
other available variable investment option or guarantee period, or

.. all or part of the assets held in one GUARANTEE PERIOD to any other
available guarantee period or variable investment option (these transfers
may, however, incur a market value adjustment--either positive or
negative).

Transfers under our dollar cost averaging program do not count toward the 12 you
are allowed each year. However, you may not:

.. transfer assets within 30 days prior to the contract's date of maturity,

.. transfer more than $1,000,000 in a contract year from any one variable
investment option or guarantee period, without our prior approval,

.. make any transfer that would cause you to exceed the above-mentioned
maximum of 18 investment options,

.. make any transfers, during the annuity period, to or from a fixed
investment option, or

.. make any transfer during the annuity period that would result in more
than four investment options being used at once.

Procedure for transferring your assets

.. your name,

.. daytime telephone number,

.. contract number,

.. the names of the investment options being transferred to and from each,
and

.. the amount of each transfer.

The request becomes effective on the day we receive your request, in proper
form, at the John Hancock Annuity Servicing Office.

Telephone transfers

The contracts are not designed for professional market timing organizations
or other persons or entities that use programmed or frequent transfers among
investment options. For reasons such as that, we reserve the right to change our
telephone transaction policies or procedures at any time. We also reserve the
right to suspend or terminate the privilege altogether.

Dollar cost averaging program

You may elect, at no cost, to automatically transfer assets from any
variable investment option to one or more other variable investment options on a
monthly, quarterly, semiannual, or annual basis. The following conditions apply
to the dollar cost averaging program:

.. you may elect the program only if the total value of your contract equals
$15,000 or more,

.. the amount of each transfer must equal at least $250,

.. you may change your dollar cost averaging instructions at any time in
writing or, if you have authorized telephone transfers, by telephone,

.. you may discontinue the program at any time,

.. the program automatically terminates when the variable investment option
from which we are taking the transfers has been exhausted,

.. automatic transfers to or from guarantee periods are not permitted.

We reserve the right to suspend or terminate the program at any time.

WHAT FEES AND CHARGES WILL BE DEDUCTED FROM MY CONTRACT?

Mortality and expense risk charge

We deduct the Separate Account charge shown in the Fee Tables on a daily
basis to compensate us primarily for mortality and expense risks that we assume
under the contracts. This charge does not apply to assets you have in our
guarantee periods. We take the deduction proportionally from each variable
investment option you are then using.

In return for mortality risk charge, we assume the risk that annuitants as
a class will live longer than expected, requiring us to a pay greater number of
annuity payments. In return for the expense risk charge, we assume the risk that
our expenses relating to the contracts may be higher than we expected when we
set the level of the contracts' other fees and charges, or that our revenues
from such other sources will be less.

Administrative services charge

We deduct the Separate Account charge shown in the Fee Tables on a daily
basis for administrative and clerical services that the contracts require us to
provide. This charge does not apply to assets you have in our guarantee periods.
We take the deduction proportionally from each variable investment option you
are then using.

Annual contract fee

Prior to the date of maturity of your contract, we will deduct the annual
contract fee shown in the Fee Tables. We deduct this annual contract fee at the
beginning of each contract year after the first. We also deduct it if you
surrender your contract. We take the deduction proportionally from each variable
investment option and each guarantee period you are then using. We reserve the
right to increase the annual contract fee to $50.

Premium taxes

We make deductions for any applicable premium or similar taxes based on the
amount of a premium payment. Currently, certain local jurisdictions assess a tax
of up to 5% of each premium payment.

Withdrawal charge

If you withdraw some money from your contract prior to the date of maturity
("partial withdrawal") or if you surrender (turn in) your contract, in its
entirety, for cash prior to the date of maturity ("total withdrawal" or
"surrender"), we may assess a withdrawal charge. Some people refer to this
charge as a "contingent deferred withdrawal load." We use this charge to help
defray expenses relating to the sales of the contracts, including commissions
paid and other distribution costs.

amount during the contract year, we will assess a withdrawal charge on any
amount of the excess that we attribute to premium payments you made within seven
years of the date of the withdrawal or surrender.

The withdrawal charge percentage depends upon the number of years that have
elapsed from the date you paid the premium to the date of its withdrawal, as
shown in the Fee Tables.

Solely for purposes of determining the amount of the withdrawal charge, we
assume that each withdrawal (together with any associated withdrawal charge) is
a withdrawal first from the earliest premium payment, and then from the next
earliest premium payment, and so forth until all payments have been exhausted.
Once a premium payment has been considered to have been "withdrawn" under these
procedures, that premium payment will not enter into any future withdrawal
charge calculations. For this purpose, we also consider any amounts that we
deduct for the annual contract charge to have been withdrawals of premium
payments (which means that no withdrawal charge will ever be paid on those
amounts).

The amount of any withdrawal that exceeds any remaining premium payments
that have not already been considered as withdrawn will not be subject to any
withdrawal charge. This means that no withdrawal charge will apply to any
favorable investment experience that you have earned.

Here's how we deduct the withdrawal charge: We deduct the withdrawal charge
proportionally from each variable investment option and each guarantee period
being reduced by the surrender or withdrawal. For example, if 60% of the
withdrawal amount comes from a "Growth" variable investment option and 40% from
a money market variable investment option, then we will deduct 60% of the
withdrawal charge from the "Growth" option and 40% from the money market option.
If any such option has insufficient remaining value to cover the charge, we will
deduct any shortfall from all of your other investment options, pro-rata based
on the value in each. If your contract as a whole has insufficient surrender
value to pay the entire charge, we will pay you no more than the surrender
value.

You will find examples of how we compute the withdrawal charge in Appendix
B to this prospectus.

When withdrawal charges don't apply: We don't assess a withdrawal charge in
the following situations:

.. on amounts applied to an annuity option at the contract's date of
maturity or to pay a death benefit;

.. on certain withdrawals if you have elected the nursing home rider that
waives the withdrawal charge; and

.. on amounts withdrawn to satisfy the minimum distribution requirements for
tax qualified plans. (Amounts above the minimum distribution requirements
are subject to any applicable withdrawal charge, however.)

How an MVA affects the withdrawal charge: If you make a withdrawal from a
guarantee period at a time when the related MVA results in an upward adjustment
in your remaining value, we will calculate the withdrawal charge as if you had
withdrawn that much less. Similarly, if the MVA results in a downward
adjustment, we will compute any withdrawal charge as if you had withdrawn that
much more.

Other charges

We deduct the optional benefit rider charges shown in the Fee Tables
proportionally from each of your investment options, including the guaranteed
periods, based on your value in each.

HOW CAN I WITHDRAW MONEY FROM MY CONTRACT?

Surrenders and partial withdrawals

Prior to your contract's date of maturity, if the annuitant is living, you
may:

.. surrender your contract for a cash payment of its "surrender value," or

.. make a partial withdrawal of the surrender value.

The surrender value of a contract is the total value of a contract, after
any market value adjustment, MINUS the annual contract fee and any applicable
premium tax and withdrawal charges. We will determine the amount surrendered or
withdrawn as of the date we receive your request at the John Hancock Annuity
Servicing Office.

Certain surrenders and withdrawals may result in taxable income to you or
other tax consequences as described under "Tax information," beginning on page
29. Among other things, if you make a full surrender or partial withdrawal from
your contract before you reach age 59 1/2, an additional federal penalty of 10%
generally applies to any taxable portion of the withdrawal.

We will deduct any partial withdrawal proportionally from each of your
investment options based on the value in each, unless you direct otherwise.

Without our prior approval, you may not make a partial withdrawal:

. for an amount less than $100, or

. if the remaining total value of your contract would be less than
$1,000.

If your "free withdrawal value" at any time is less than $100, you must withdraw
that amount in full, in a single sum, before you make any other partial
withdrawals. We reserve the right to terminate your contract if the value of
your contract becomes zero.

You generally may not make any surrenders or partial withdrawals once we
begin making payments under an annuity option.

Nursing home waiver of withdrawal charge

If your state permits, you may purchase an optional nursing home waiver of
withdrawal charge rider when you apply for a contract. Under this rider, we will
waive the withdrawal charges on any withdrawals, provided all the following
conditions apply:

.. you become confined to a nursing home beginning at least 90 days after we
issue your contract.

.. you remain in the nursing home for at least 90 consecutive days and
receive skilled nursing care.

.. we receive your request for a withdrawal and adequate proof of
confinement no later than 90 days after discharge from the facility.

.. your confinement is prescribed by a doctor and medically necessary.

You may not purchase this rider if (1) you are older than 75 years at
application or (2) in most states, if you were confined to a nursing home within
the past two years.

You should carefully review the tax considerations for optional benefit
riders on page 28 before selecting this optional benefit rider. For a more
complete description of the terms and conditions of this benefit, you should
refer directly to the rider. We will provide you with a copy on request.

Systematic withdrawal plan

Our optional systematic withdrawal plan enables you to preauthorize
periodic withdrawals. If you elect this plan, we will withdraw a percentage or
dollar amount from your contract on a monthly, quarterly, semiannual, or annual
basis, based upon your instructions. Unless you request otherwise and we agree,
we will deduct the requested amount from each applicable investment option in
the ratio that the value of each bears to the total value of your contract. Each
systematic withdrawal is subject to any withdrawal charge or market value
adjustment that would apply to an otherwise comparable non-systematic
withdrawal. See "How will the value of my investment in the contract change over
time?" beginning on page 10, and "What fees and charges will be deducted from my
contract?" beginning on page 14. The same tax consequences also generally will
apply.

The following conditions apply to systematic withdrawal plans:

.. you may elect the plan only if the total value of your contract equals
$15,000 or more,

.. the amount of each systematic withdrawal must equal at least $10,

.. if the amount of each withdrawal drops below $100 or the total value of
your contract becomes less that $5,000, we will suspend the plan and
notify you,

. you may cancel the plan at any time.

We reserve the right to modify the terms or conditions of the plan at any time
without prior notice.

WHAT HAPPENS IF THE ANNUITANT DIES BEFORE MY CONTRACT'S DATE OF MATURITY?

Standard death benefit

If the annuitant dies before your contract's date of maturity, we will pay a
standard death benefit, unless you have elected an enhanced death benefit rider.

The standard death benefit is the greater of:

. the total value of your contract, adjusted by any then-applicable market
value adjustment, or

. the total amount of premium payments made, minus any partial withdrawals and
related withdrawal charges.

We calculate the death benefit value as of the day we receive, in proper
order at the John Hancock Annuity Servicing Office:

. proof of the annuitant's death, and

. any required instructions as to method of settlement.

Unless you have elected an optional method of settlement, we will pay the
death benefit in a single sum to the beneficiary you chose prior to the
annuitant's death. If you have not elected an optional method of settlement, the
beneficiary may do so. However, if the death benefit is less than $5,000, we
will pay it in a lump sum, regardless of any election. You can find more
information about optional methods of settlement under "Annuity options,"
beginning on page 26.

Enhanced death benefit riders

"Stepped-up" death benefit rider

If you are under age 80 when you apply for your contract, you may elect to
enhance the standard death benefit by purchasing a stepped-up death benefit
rider. Under this rider, if the annuitant dies before the contract's date of
maturity, we will pay the beneficiary the greater of:

. the standard death benefit (described above) or

. the highest total value of your contract (adjusted by any market value
adjustment) as of any anniversary of your contract to date, PLUS any
premium payments you have made since that anniversary, MINUS any withdrawals
you have taken (and any related withdrawal charges) since that anniversary.

For these purposes, however, we count only those contract anniversaries that
occur (1) BEFORE we receive proof of death and any required settlement
instructions and (2) BEFORE the annuitant attains age 81.

You may elect this rider ONLY when you apply for the contract and ONLY if
this rider is available in your state. As long as the rider is in effect, you
will pay a monthly charge for this benefit as shown in the Fee Tables.

You should carefully review the tax considerations for optional benefit
riders on page 29 before selecting this optional benefit rider. For a more
complete description of the terms and conditions of this benefit, you should
refer directly to the rider. We will provide you with a copy on request.

Accidental death benefit rider

If you are under age 80 when you apply for your contract, you may elect to
purchase an accidental death benefit rider. In addition to any other death
benefit, this rider provides a benefit upon the accidental death of the
annuitant prior to the earlier of:

. the contract's date of maturity, and

. the annuitant's 80/th/ birthday.

Under this rider, the beneficiary will receive an amount equal to the total
value of the contract as of the date of the accident, up to a maximum of
$200,000. We will pay the benefit after we receive, at the John Hancock Annuity
Servicing Office:

. proof of the annuitant's death, and

. any required instructions as to method of settlement.

You may elect this rider ONLY when you apply for the contract. As long as
the rider is in effect, you will pay a monthly charge for this benefit as shown
in the Fee Tables.

You should carefully review the tax considerations for optional benefit
riders on page 29 before selecting this optional benefit rider. For a complete
description of the terms and conditions of this benefit, you should refer
directly to the rider. We will provide you with a copy upon request. Not all
states allow this benefit.

WHAT ADDITIONAL GUARANTEE APPLIES TO THE GUARANTEE PERIODS UNDER MY CONTRACT?

John Hancock Financial Services, Inc. ("JHFS") guarantees JHVLICO's
obligations with respect to any guarantee periods you have elected under the
contract on the date of this prospectus. JHFS' guarantee will also apply to any
new guarantee periods under your contract, unless and until we notify you
otherwise. (If we give you such notice, however, the JHFS guarantee would remain
in effect for all guarantee periods then had already started, and would be
inapplicable only to guarantee periods starting after the date of such notice.)
The JHFS guarantee does not relieve JHVLICO of any obligations under your
contract - - it is in addition to all of the rights and benefits that the
contract provides. There is no charge or cost to you for the JHFS guarantee, nor
are there any other disadvantages to you of having this additional guarantee.

WHAT ARE THE TERMS OF THE ADDITIONAL GUARANTEE?

ADDITIONAL INFORMATION

CONTENTS OF THIS SECTION STARTING ON PAGE

Description of JHVLICO. . . . . . . . . . . . . . . . . . . . 20

How to find additional information about JHVLICO and JHFS . . 20

Who should purchase a contract. . . . . . . . . . . . . . . . 21

How we support the variable investment options. . . . . . . . 21

How we support the guarantee periods. . . . . . . . . . . . . 22

How the guarantee periods work. . . . . . . . . . . . . . . . 22

The accumulation period . . . . . . . . . . . . . . . . . . . 24

The annuity period. . . . . . . . . . . . . . . . . . . . . . 25

Variable investment option valuation procedures . . . . . . . 27

Distribution requirements following death of owner. . . . . . 28

Miscellaneous provisions. . . . . . . . . . . . . . . . . . . 28

Tax information . . . . . . . . . . . . . . . . . . . . . . . 29

Performance information . . . . . . . . . . . . . . . . . . . 36

Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . 36

Voting privileges . . . . . . . . . . . . . . . . . . . . . . 36

Certain changes . . . . . . . . . . . . . . . . . . . . . . . 36

Distribution of contracts . . . . . . . . . . . . . . . . . . 37

Experts . . . . . . . . . . . . . . . . . . . . . . . . . . . 38

Registration statement. . . . . . . . . . . . . . . . . . . . 38

Condensed financial information . . . . . . . . . . . . . . . 39

Appendix A - Details About Our Guarantee Periods. . . . . . . 41

Appendix B - Examples of Withdrawal Charge Calculation. . . . 44

DESCRIPTION OF JHVLICO

We are a wholly-owned subsidiary of John Hancock Life Insurance Company
("John Hancock"), a Massachusetts stock life insurance company. On February 1,
2000, John Hancock Mutual Life Insurance Company (which was chartered in
Massachusetts in 1862) converted to a stock company by "demutualizing" and
changed its name to John Hancock Life Insurance Company. As part of the
demutualization process, John Hancock became a subsidiary of John Hancock
Financial Services, Inc., a newly formed publicly-traded corporation. John
Hancock's home office is at John Hancock Place, Boston, Massachusetts 02117. As
of December 31, 2002, John Hancock's assets were approximately $88 billion and
it had invested approximately $575 million in JHVLICO in connection with
JHVLICO's organization and operation. It is anticipated that John Hancock will
from time to time make additional capital contributions to JHVLICO to enable us
to meet our reserve requirements and expenses in connection with our business.
John Hancock is committed to make additional capital contributions if necessary
to ensure that we maintain a positive net worth.

HOW TO FIND ADDITIONAL INFORMATION ABOUT JHVLICO AND JHFS

These are the following reports and documents, which we "incorporate by
reference" into this prospectus:

. Form 10-K of JHFS for the year ended December 31, 2002;

. Form 10-Q of JHFS for the three month period ended March 31, 2003;

. Form 8-K of JHFS filed on January 9, 2003; and

. All other documents or reports that JHVLICO or JHFS subsequently files with
the SEC pursuant to Sections 13(a), 13(c), 14, or 15(d) of the Exchange Act
(Prior to 2003, JHVLICO also filed reports on Forms 10-K and 10-Q. However,
as discussed above under "What are the reasons for the additional
guarantee?", JHVLICO no longer intends to file such reports.

WHO SHOULD PURCHASE A CONTRACT?

. traditional individual retirement annuity plans ("traditional IRAs")
satisfying the requirements of Section 408 of the Code;

. non-deductible IRA plans ("Roth IRAs") satisfying the requirements of Section
408A of the Code;

. SIMPLE IRA plans adopted under Section 408(p) of the Code;

. Simplified Employee Pension plans ("SEPs") adopted under Section 408(k)of the
Code; and

. annuity purchase plans adopted under Section 403(b) of the Code by public
school systems and certain other tax-exempt organizations.

We do not currently offer the contracts to every type of tax-qualified plan,
and we may not offer the contracts for all types of tax-qualified plans in the
future. In certain circumstances, we may make the contracts available for
purchase under deferred compensation plans maintained by a state or political
subdivision or tax exempt organization under Section 457 of the Code or by
pension or profit-sharing plans qualified under section 401(a) of the Code. We
provide general federal income tax information for contracts purchased in
connection with tax qualified retirement plans beginning on page 31.

We may include certain requirements from the above sources in endorsements
or riders to the affected contracts. In other cases, we do not. In no event,
however, do we undertake to assure a contract's compliance with all plan, tax
law, and ERISA requirements applicable to a tax-qualified or non tax-qualified
retirement plan. Therefore, if you use or plan to use a contract in connection
with such a plan, you must consult with competent legal and tax advisers to
ensure that you know of (and comply with) all such requirements that apply in
your circumstances.

To accommodate "employer-related" pension and profit-sharing plans, we
provide "unisex" purchase rates. That means the annuity purchase rates are the
same for males and females. Any questions you have as to whether you are
participating in an "employer-related" pension or profit-sharing plan should be
directed to your employer. Any question you or your employer have about unisex
rates may be directed to the John Hancock Annuity Servicing Office.

HOW WE SUPPORT THE VARIABLE INVESTMENT OPTIONS

The Account's assets, including each Series Fund's shares, belong to
JHVLICO. Each contract provides that amounts we hold in the Account pursuant to
the policies cannot be reached by any other persons who may have claims against
us.

HOW WE SUPPORT THE GUARANTEE PERIODS

HOW THE GUARANTEE PERIODS WORK

Amounts you allocate to the guarantee periods earn interest at a guaranteed
rate commencing with the date of allocation. At the expiration of the guarantee
period, we will automatically transfer its accumulated value to a money market
variable investment option under your contract, unless you elect to:

. withdraw all or a portion of any such amount from the contract,

. allocate all or a portion of such amount to a new guarantee period or periods
of the same or different duration as the expiring guarantee period, or

. allocate all or a portion of such amount to one or more of the variable
investment options.

You must notify us of any such election, by mailing a request to us at the
John Hancock Annuity Servicing Office at least 30 days prior to the end of the
expiring guarantee period. We will notify you of the end of the guarantee period
at least 30 days prior its expiration. The first day of the new guarantee period
or other reallocation will begin the day after the end of the expiring guarantee
period.

We currently make available guarantee periods with durations up to five
years. You may not select a guarantee period if it extends beyond your
contract's date of maturity. We reserve the right to add or delete guarantee
periods from those that are available at any time for new allocations.

Guaranteed interest rates

Each guarantee period has its own guaranteed rate. We may, at our
discretion, change the guaranteed rate for future guarantee periods. These
changes will not affect the guaranteed rates being paid on guarantee periods
that have already commenced. Each time you allocate or transfer money to a
guarantee period, a new guarantee period, with a new interest rate, begins to
run with respect to that amount. The amount allocated or transferred earns a
guaranteed rate that will continue unchanged until the end of that period. We
will not make available any guarantee period offering a guaranteed rate below
3%.

---------------------------------------------------
We make the final determination of guaranteed
rates to be declared. We cannot predict or assure
the level of any future guaranteed rates or the
availability of any future guaranteed periods.
---------------------------------------------------

You may obtain information concerning the guaranteed rates applicable to the
various guarantee periods, and the durations of the guarantee periods offered at
any time by calling the John Hancock Annuity Servicing Office at the telephone
number on page 2.

Calculation of market value adjustment ("MVA")

If you withdraw, surrender, transfer, or otherwise remove money from a
guarantee period prior to its expiration date, we will apply a market value
adjustment.

A market value adjustment also generally applies to:

. death benefits pursuant to your contract,

. amounts you apply to an annuity option, and

. amounts paid in a single sum in lieu of an annuity.

The market value adjustment increases or decreases your remaining value in
the guarantee period. If the value in that guarantee period is insufficient to
pay any negative MVA, we will deduct any excess from the value in your other
investment options pro-rata based on the value in each. If there is insufficient
value in your other investment options, we will in no event pay out more than
the surrender value of the contract.

Here is how the MVA works:

---------------------------------------------------------------
We compare

. the guaranteed rate of the guarantee period from
which the assets are being taken WITH

. the guaranteed rate we are currently offering for
guarantee periods of the same duration as remains
in the guarantee period from which the assets are
being taken.

If the first rate exceeds the second by more than
1/2 %, the market value adjustment produces an increase in
your contract's value.

If the first rate does not exceed the second by at least 1/2%,
the market value adjustment produces a decrease in your
contract'svalue.
---------------------------------------------------------------

For this purpose, we consider that the amount withdrawn from the guarantee
period includes the amount of any negative MVA and is reduced by the amount of
any positive MVA.

The mathematical formula and sample calculations for the market value
adjustment appear in Appendix A.

THE ACCUMULATION PERIOD

Your value in our variable investment options

Valuation of accumulation units

To determine the number of accumulation units that a specific transaction
will purchase or cancel, we use the following formula:

----------------------------------------------
dollar amount of transaction
DIVIDED BY
value of one accumulation unit for the
applicable variable investment option at the
time of such transaction
----------------------------------------------

Therefore, at any time prior to the date of maturity, the total value of
your contract in a variable investment option can be computed according to the
following formula:

-----------------------------------------------
number of accumulation units in the
variable investment options
TIMES
value of one accumulation unit for the
applicable variable investment option at that
time
-----------------------------------------------

Your value in the guarantee periods

On any date, the total value of your contract in a guarantee period equals:

. the amount of premium payments or transferred amounts allocated to the
guarantee period, MINUS

. the amount of any withdrawals or transfers paid out of the guarantee period,
MINUS

. the amount of any negative market value adjustments resulting from such
withdrawals or transfers, PLUS

. the amount of any positive market value adjustments resulting from such
withdrawals and transfers, MINUS

. the amount of any charges and fees deducted from that guarantee period, PLUS

. interest compounded daily on any amounts in the guarantee period from time to
time at the effective annual rate of interest we have declared for
that guarantee period.

THE ANNUITY PERIOD

Date of maturity

. at least 6 months after the date the first premium payment is applied to
your contract, and

. no later than the maximum age specified in your contract (normally age
95).

Subject always to these requirements, you may subsequently select an
earlier date of maturity. The John Hancock Annuity Servicing Office must receive
your new selection at least 31 days prior to the new date of maturity, however.
Also, if you are selecting or changing your date of maturity for a contract
issued under a tax qualified plan, special limits apply. (See "Contracts
purchased for a tax-qualified plan," beginning on page 31.)

Choosing fixed or variable annuity payments

During the annuity period, the total value of your contract must be
allocated to no more than four investment options. During the annuity period, we
do not offer the guarantee periods. Instead, we offer annuity payments on a
fixed basis as one investment option, and annuity payments on a variable basis
for EACH variable investment option.

We will generally apply (1) amounts allocated to the guarantee periods as
of the date of maturity to provide annuity payments on a fixed basis and (2)
amounts allocated to variable investment options to provide annuity payments on
a variable basis. If you are using more than four investment options on the date
of maturity, we will divide your contract's value among the four investment
options with the largest values (directing all guarantee periods as a single
option), pro-rata based on the amount of the total value of your contract that
you have in each.

We will make a market value adjustment to any remaining guarantee period
amounts on the date of maturity, before we apply such amounts to an annuity
payment option.

Once annuity payments commence, you may not make transfers from fixed to
variable or from variable to fixed.

Selecting an annuity option

Each contract provides, at the time of its issuance, for annuity payments
to commence on the date of maturity pursuant to Option A: "life annuity with 10
years guaranteed" (discussed under "Annuity options" on page 26).

If the initial monthly payment under an annuity option would be less than
$50, we may make a single sum payment equal to the total surrender value of your
contract on the date the initial payment would be payable. Such single payment
would replace all other benefits.

Subject to that $50 minimum limitation, your beneficiary may elect an
annuity option if:

. you have not made an election prior to the annuitant's death;

. the beneficiary is entitled to payment of a death benefit of at least $5,000
in a single sum; and

. the beneficiary notifies us of the election prior to the date the proceeds
become payable.

Variable monthly annuity payments

The amount of each subsequent variable annuity payment under that variable
investment option depends upon the investment performance of that variable
investment option.

Here's how it works:

. we calculate the actual net investment return of the variable investment
option (after deducting all charges) during the period between the dates
for determining the current and immediately previous monthly payments.

. if that actual net investment return exceeds the "assumed investment
rate" (explained below), the current monthly payment will be larger than
the previous one.

. if the actual net investment return is less than the assumed investment
rate, the current monthly payment will be smaller than the previous one.

Assumed investment rate

The assumed investment rate for any variable portion of your annuity
payments will be 3 1/2 % per year, except as follows.

You may elect an assumed investment rate of 5% or 6%, provided such a rate
is available in your state. If you elect a higher assumed investment rate, your
initial variable annuity payment will also be higher. Eventually, however, the
monthly variable annuity payments may be smaller than if you had elected a lower
assumed investment rate.

Fixed monthly annuity payments

The dollar amount of each fixed monthly annuity payment is specified during
the entire period of annuity payments, according to the provisions of the
annuity option selected. To determine such dollar amount we first, in accordance
with the procedures described above, calculate the amount to be applied to the
fixed annuity option as of the date of maturity. We then subtract any applicable
premium tax charge and divide the difference by $1,000. We then multiply the
result by the greater of:

. the applicable fixed annuity purchase rate shown in the appropriate table
in the contract; or

. the rate we currently offer at the time of annuitization. (This current
rate may be based on the sex of the annuitant, unless prohibited by law.)

Annuity options

Here are some of the annuity options that are available, subject to the
terms and conditions described above. We reserve the right to make available
optional methods of payment in addition to those annuity options listed here and
in your contract.

OPTION B: LIFE ANNUITY WITHOUT FURTHER PAYMENT ON DEATH OF PAYEE - We will
make monthly payments to the payee as long as he or she lives. We guarantee no
minimum number of payments.

OPTION D: JOINT AND 1/2 SURVIVOR; OR JOINT AND 2/3 SURVIVOR - We will
provide payments monthly, quarterly, semiannually, and annually for the payee's
life and the life of the payee's spouse/joint payee. Upon the death of one
payee, we will continue payments (reduced to 1/2 or 2/3 the full payment amount)
to the surviving payee. All payments stop at the death of the surviving payee.

If the payee is more than 85 years old on the date of maturity, the
following two options are not available:

. Option A: "life annuity with 5 years guaranteed" and

. Option B: "life annuity without further payment on the death of payee."

VARIABLE INVESTMENT OPTION VALUATION PROCEDURES

DISTRIBUTION REQUIREMENTS FOLLOWING DEATH OF OWNER

If you did not purchase your contract under a tax qualified plan (as that
term is used below), the Code requires that the following distribution
provisions apply if you die. We summarize these provisions in the following box.
In most cases, these provisions do not cause a problem if you are also the
annuitant under your policy. If you have designated someone other than yourself
as the annuitant, however, your heirs will have less discretion than you would
have had in determining when and how the contract's value would be paid out.

---------------------------------------------------------------------------
IF YOU DIE BEFORE ANNUITY PAYMENTS HAVE BEGUN:
.if the contract's designated beneficiary is your surviving spouse, your
spouse may continue the contract in force as the owner.
.if the beneficiary is not your surviving spouse OR if the beneficiary is
your surviving spouse but chooses not to continue the contract, the
"entire interest" (as discussed below) in the contract on the date of
your death must be:
(1) paid out in full within five years of your death or
(2)applied in full towards the purchase of a life annuity on the
beneficiary with payments commencing within one year of your death.
If you are the last surviving annuitant, as well as the owner, the entire
interest in the contract on the date of your death equals the death benefit
that then becomes payable. If you are the owner but not the last surviving
annuitant, the entire interest equals:
.the surrender value if paid out in full within five years of your death,
or
.the total value of your contract applied in full towards the purchase of
a life annuity on the beneficiary with payments commencing within one
year of your death.
IF YOU DIE ON OR AFTER ANNUITY PAYMENTS HAVE BEGUN:
.any remaining amount that we owe must be paid out at least as rapidly as
under the method of making annuity payments that is then in use.
---------------------------------------------------------------------------

The Code imposes very similar distribution requirements on contracts used to
fund tax qualified plans. We provide the required provisions for tax
qualified plans in separate disclosures and endorsements.

Notice of the death of an owner or annuitant should be furnished promptly to
the John Hancock Annuity Servicing Office.

MISCELLANEOUS PROVISIONS

Assignment; change of owner or beneficiary

Subject to these limits, while the annuitant is alive, you may designate
someone else as the owner by written notice to the John Hancock Annuity
Servicing Office. The contract designates the person you choose as beneficiary.
You may change the beneficiary by written notice no later than receipt of due
proof of the death of the annuitant. Changes of owner or beneficiary will take
effect whether or not you or the annuitant is then alive. However, these changes
are subject to:

. the rights of any assignees of record,

. the any action taken prior to receipt of the notice, and

. certain other conditions.

An assignment, pledge, or other transfer may be a taxable event. See "Tax
information" below. Therefore, you should consult a competent tax adviser before
taking any such action.

TAX INFORMATION

Our income taxes

We are taxed as a life insurance company under the Internal Revenue Code
(the "Code"). The Account is taxed as part of our operations and is not taxed
separately.

The contracts permit us to deduct a charge for any taxes we incur that are
attributable to the operation or existence of the contracts or the Account.
Currently, we do not anticipate making a charge such taxes. If the level of the
current taxes increases, however, or is expected to increase in the future, we
reserve the right to make a charge in the future.

Special Considerations for Optional Benefit Riders

If you have elected the optional stepped-up death benefit rider or
accidental death benefit rider, it is our understanding that the charges
relating to these riders are not subject to current taxation. The Internal
Revenue Service ("IRS") might take the position, however, that each charge
associated with the rider is deemed a partial withdrawal from the contract
subject to current income tax to the extent of any gains and, if applicable, the
10% penalty tax for premature distributions from annuities. We understand that
you are not prevented from adding any of our optional death benefit riders to
your contract if it is issued as an IRA. However, the law is unclear because
IRAs generally may not invest in "life insurance contracts." Therefore, it is
possible that a contract may be disqualified as an IRA if it has an optional
death benefit rider added to it. If so, you may be subject to increased taxes.

At present, the IRS has not provided guidance as to the tax effect of
adding an optional nursing home waiver of withdrawal charge rider to an annuity
contract. The IRS might take the position that each charge associated with this
rider is deemed a withdrawal from the contract subject to current income tax to
the extent of any gains and, if applicable, the 10% penalty tax for premature
withdrawals.

We do not currently report rider charges as partial withdrawals, but we may
do so in the future if we believe that the IRS would require us to report them
as such. You should consult a competent tax adviser before electing any of these
optional benefit riders.

Contracts not purchased to fund a tax qualified plan

Undistributed gains

We believe the contracts will be considered annuity contracts under Section
72 of the Code. This means that, ordinarily, you pay no federal income tax on
any gains in your contract until we actually distribute assets to you.

However, a contract owned other than by a natural person (e.g.,
corporations, partnerships, limited liability companies and other such entities)
does not generally qualify as an annuity for tax purposes. Any increase in value
therefore would constitute ordinary taxable income to such an owner in the year
earned.

Annuity payments

When we make payments under a contract in the form of an annuity, each
payment will result in taxable ordinary income to you, to the extent that each
such payment exceeds an allocable portion of your "investment in the contract"
(as defined in the Code). In general, your "investment in the contract" equals
the aggregate amount of premium payments you have made over the life of the
contract, reduced by any amounts previously distributed from the contract that
were not subject to tax.

The Code prescribes the allocable portion of each such annuity payment to
be excluded from income according to one formula if the payments are variable
and a somewhat different formula if the payments are fixed. In each case,
speaking generally, the formula seeks to allocate an appropriate amount of the
investment in the contract to each payment. After the entire "investment in the
contract" has been distributed, any remaining payment is fully taxable.

Surrenders, withdrawals and death benefits

When we make a single sum payment from a contract, you have ordinary
taxable income, to the extent the payment exceeds your "investment in the
contract" (discussed above). Such a single sum payment can occur, for example,
if you surrender your contract before the date of maturity or if no annuity
payment option is selected for a death benefit payment.

For purposes of determining the amount of taxable income resulting from a
single sum payment or a partial withdrawal, all annuity contracts issued by
JHVLICO or its affiliates to the owner within the same calendar year will be
treated as if they were a single contract.

Penalty for premature withdrawals

Puerto Rico annuity contracts not purchased to fund a tax qualified plan

Under the Puerto Rico tax laws, distributions from a contract not purchased
to fund a tax qualified plan ("Non-Qualified Contract") before annuitization are
treated as non-taxable return of principal until the principal is fully
recovered. Thereafter, all distributions are fully taxable. Distributions after
annuitization are treated as part taxable income and part non-taxable return of
principal. The amount excluded from gross income after annuitization is equal to
the amount of the distribution in excess of 3% of the total purchase payments
paid, until an amount equal to the total purchase payments paid has been
excluded. Thereafter, the entire distribution from a Non-Qualified Contract is
included in gross income. Puerto Rico does not currently impose an early
withdrawal penalty tax. Generally, Puerto Rico does not require income tax to be
withheld from distributions of income.

Diversification requirements

Contracts purchased for a tax qualified plan

We have no responsibility for determining whether a particular retirement
plan or a particular contribution to the plan satisfies the applicable
requirements of the Code, or whether a particular employee is eligible for
inclusion under a plan. In general, the Code imposes limitations on the amount
of annual compensation that can be contributed into a tax-qualified plan, and
contains rules to limit the amount you can contribute to all of your
tax-qualified plans. Trustees and administrators of tax qualified plans may,
however, generally invest and reinvest existing plan assets without regard to
such Code imposed limitations on contributions. Certain distributions from tax
qualified plans may be transferred directly to another plan, unless funds are
added from other sources, without regard to such limitations.

Tax-free rollovers

For tax years beginning in 2002, if permitted under your plans, you may
make a tax-free rollover from:

. a traditional IRA to another traditional IRA,

. a traditional IRA to another tax-qualified plan, including a Section
403(b) plan

. any tax-qualified plan (other than a Section 457 deferred compensation
plan maintained by a tax-exempt organization) to a traditional IRA,

. any tax-qualified plan (other than a Section 457 deferred compensation
plan maintained by a tax exempt organization) to another tax-qualified
plan, including a roll-over of amounts from your prior plan derived from
your "after-tax" contributions from "involuntary" distributions,

. a Section 457 deferred compensation plan maintained by a tax-exempt
organization to another Section 457 deferred compensation plan maintained
by a tax-exempt organization and

. a traditional IRA to a Roth IRA, subject to special restrictions
discussed below.

In addition, if your spouse survives you, he or she is permitted to
rollover your tax-qualified retirement account to another tax-qualified
retirement account in which your surviving spouse participates, to the extent
permitted by your surviving spouse' plan.

Traditional IRAs

. 100% of compensation includable in your gross income, or

. the IRA annual limit for that tax year. For tax years beginning in 2002,
2003 and 2004, the annual limit is $3,000 per year. For tax years
beginning in 2005, 2006 and 2007, the annual limit is $4,000 per year and,
for the tax year beginning in 2008, the annual limit is $5,000. After
that, the annual limit is indexed for inflation in $500 increments as
provided in the Code.

Deductibility of contributions. You may be entitled to a full deduction, a
partial deduction or no deduction for your traditional IRA contribution on your
federal income tax return.

The amount of your deduction is based on the following factors:

. whether you or your spouse is an active participant in an employer
sponsored retirement plan,

. your federal income tax filing status, and

. your "Modified Adjusted Gross Income."

Your traditional IRA deduction is subject to phase out limits, based on
your Modified Adjusted Gross Income, which are applicable according to your
filing status and whether you or your spouse are active participants in an
employer sponsored retirement plan. You can still contribute to a traditional
IRA even if your contributions are not deductible.

The tax law requires that annuity payments under a traditional IRA contract
begin no later than April 1 of the year following the year in which the owner
attains age 70 1/2.

Roth IRAs

Distributions. If you hold your Roth IRA for at least five years the payee
will not owe any federal income taxes or early withdrawal penalties on amounts
paid out from the contract:

. after you reach age 59 1/2,

. on your death or disability, or

. to qualified first-time home buyers (not to exceed a lifetime limitation
of $10,000) as specified in the Code.

Conversion to a Roth IRA. You can convert a traditional IRA to a Roth IRA,
unless

. you have adjusted gross income over $100,000, or

. you are a married taxpayer filing a separate return.

The Roth IRA annual contribution limit does not apply to converted amounts.

SIMPLE IRA plans

In general, a small business employer may establish a SIMPLE IRA retirement
plan if the employer employed 100 or fewer employees earning at least $5,000
during the preceding year. As an eligible employee of the business, you may
make pre-tax contributions to the SIMPLE IRA plan. You may specify the
percentage of compensation that you want to contribute under a qualified salary
reduction arrangement, provided the amount does not exceed the SIMPLE IRA annual
contribution limit. The SIMPLE IRA annual limit is $7,000 for tax years
beginning in 2002, $8,000 for 2003, $9,000 for 2004, and $10,000 for 2005.
After that, the annual limit is indexed for inflation in $500 increments as
provided in the Code. Your employer must elect to make a matching contribution
of up to 3% of your compensation or a non-elective contribution equal to 2% of
your compensation.

Simplified Employee Pension plans (SEPs)

SEPs are employer sponsored plans that may accept an expanded rate of
contributions from one or more employers. Employer contributions are flexible,
subject to certain limits under the Code, and are made entirely by the business
owner directly to a SEP-IRA owned by the employee. Contributions are
tax-deductible by the business owner and are not includable in income by
employees until withdrawn. The maximum deductible amount that may be
contributed to a SEP is 25% of compensation, up to the SEP compensation limit
specified in the Code for the year ($200,000 for the year 2002) with a cap of
$40,000.

Section 403(b) plans

. on the employee's separation from service, death, or disability,

. with respect to distributions of assets held under a 403(b) contract as of
December 31, 1988, and

. transfers and exchanges to other products that qualify under Section 403(b).

Minimum distributions under a 403(b) contract must begin no later than April
1 of the year following the year in which the employee reaches age 70 1/2 or, if
later, retires.

Pension and profit sharing plans qualified under Section 401(a)

In general, an employer may deduct from its taxable income premium payments
it makes under a qualified pension or profit-sharing plan described in Section
401(a) of the Code. Employees participating in the plan generally do not have to
pay tax on such contributions when made. Special requirements apply if a 401(a)
plan covers an employee classified under the Code as a "self-employed
individual" or as an "owner-employee."

The non-taxable portion of each annuity payment is determined, under the
Code, according to one formula if the payments are variable and a somewhat
different formula if the payments are fixed. In each case, speaking generally,
the formula seeks to allocate an appropriate amount of the investment in the
contract to each payment. Favorable procedures may also be available to
taxpayers who had attained age 50 prior to January 1, 1986.

"Top-heavy" plans

Section 457 deferred compensation plans

Under the provisions of Section 457 of the Code, you can exclude a portion
your compensation from gross income if you participate in a deferred
of compensation plan maintained by:

. a state,

. a political subdivision of a state,

. an agency or instrumentality or a state or political subdivision of a state,
or

. a tax-exempt organization.

The deferred compensation plan must satisfy several conditions, including
the following:

. the plan must not permit distributions prior to your separation from
service (except in the case of an unforeseen emergency), and

. all compensation deferred under the plan shall remain solely the
employer's property and may be subject to the claims of its creditors.

Elective Deferral Limits

Elective Catch-up Limits

A participant in a Section 403(b) plan, a Section 457 Plan or in certain other
types of tax-qualified pension and profit sharing plans that are commonly
referred to as "401(k)" plans and "SARSEPS" who is age 50 or older may increase
contributions by an amount up to $1,000 for tax years beginning in 2002, $2,000
for 2003, $3,000 for 2004, $4,000 for 2005 and $5,000 for 2006. After that, for
the tax years beginning in 2007, the elective catch-up contribution limit is
indexed for inflation in $500 increments as provided in the Code.

Withholding on rollover distributions

Puerto Rico annuity contracts purchased to fund a tax-qualified plan

The provisions of the tax laws of Puerto Rico vary significantly from those
under the Internal Revenue Code of the United States with respect to the various
"tax qualified" plans described above. Although we may offer variable annuity
contracts in Puerto Rico in connection with "tax qualified" plans, the text of
the prospectus under the subsection "Contracts purchased for a tax qualified
plan" is inapplicable in Puerto Rico and should be disregarded.

See your own tax adviser

Anything less than full compliance with the applicable rules, all of which are
subject to change from time to time, can have adverse tax consequences. The
taxation of an annuitant or other payee has become so complex and confusing that
great care must be taken to avoid pitfalls. For further information you should
consult a qualified tax adviser.

PERFORMANCE INFORMATION

Total return at the Account level is the percentage change between

. the value of a hypothetical investment in a variable investment option at
the beginning of the relevant period, and

. the value at the end of such period.

At the Account level, total return reflects adjustments for

. the mortality and expense risk charges,

. the administrative charge,

. the annual contract fee, and

. any withdrawal payable if the owner surrender his contract at the end of
the relevant period.

We may advertise "current yield" and "effective yield" for investments in the
Money Market investment option. Current yield refers to the income earned on
your investment in the Money Market investment option over a 7-day period an
then annualized. In other words, the income earned in the period is assumed to
be earned every 7 days over a 52-week period and stated as a percentage of the
investment.

Current yield and effective yield reflect all the recurring charges at the
Account level, but will not reflect any premium tax, any withdrawal charge, or
any charge for optional benefit riders.

REPORTS

At least annually, we will send you (1) a report showing the number and value
of the accumulation units in your contract and (2) the financial statements of
the Series Funds.

VOTING PRIVILEGES

At meetings of the Series Fund's shareholders, we will generally vote all the
shares of each fund that we hold in the Account in accordance with instructions
we receive from the owners of contracts that participate in the corresponding
variable investment option.

CERTAIN CHANGES

Changes to the Account

We reserve the right, subject to applicable law, including any required
shareholder approval,

. to transfer assets that we determine to be your assets from the Account
to another separate account or investment option by withdrawing the same
percentage of each investment in the Account with proper adjustments to
avoid odd lots and fractions,

. to add or delete variable investment options,

. to change the underlying investment vehicles,

. to operate the Account in any form permitted by law, and

. to terminate the Account's registration under the 1940 Act, if such
registration should no longer be legally required.

Unless otherwise required under applicable laws and regulations, notice to
or approval of owners will not be necessary for us to make such changes.

Variations in charges or rates for eligible classes

We may allow a reduction in or the elimination of any contract charges, or
an increase in a credited interest rate for a guarantee period. The affected
contracts would involve sales to groups or classes of individuals under special
circumstances that we expect to result in a reduction in our expenses associated
with the sale or maintenance of the contracts, or that we expect to result in
mortality or other risks that are different from those normally associated with
the contracts.

The entitlement to such variation in charges or rates will be determined by
us based upon such factors as the following:

. the size of the initial premium payment,

. the size of the group or class,

. the total amount of premium payments expected to be received from the
group or class and the manner in which the premium payments are remitted,

. the nature of the group or class for which the contracts are being
purchased and the persistency expected from that group or class as well as
the mortality or morbidity risks associated with that group or class;

. the purpose for which the contracts are being purchased and whether that
purpose makes it likely that the costs and expenses will be reduced, or

. the level of commissions paid to selling broker-dealers or certain
financial institutions with respect to contracts within the same group or
class.

We will make any reduction in charges or increase in initial guarantee rates
according to our rules in effect at the time an application for a contract is
approved. We reserve the right to change these rules from time to time. Any
variation in charges or rates will reflect differences in costs and services,
will apply uniformly to all prospective contract purchasers in the group or
class, and will not be unfairly discriminatory to the interests of any owner.
Any variation in charges or fees will reflect differences in costs and services,
will apply uniformly to all prospective contract purchasers in the group or
class, and will not be unfairly discriminatory to the interests of any owner.

DISTRIBUTION OF CONTRACTS

Signator Investors, Inc. ("Signator") acts as principal distributor of the
contracts sold through this prospectus. Signator is registered as a
broker-dealer under the Securities Exchange Act of 1934, and a member of the
National Association of Securities Dealers, Inc. Signator's address is 197
Clarendon Street, Boston, Massachusetts 02116. Signator is a subsidiary of John
Hancock Life Insurance Company.

You can purchase a contract through registered representatives of
broker-dealers and certain financial institutions who have entered into selling
agreements with JHVLICO and Signator. We pay broker-dealers compensation for
promoting, marketing and selling our variable insurance and variable annuity
products. In turn, the broker-dealers pay a portion of the compensation to
their registered representatives, under their own arrangements. Signator will
also pay its own registered representatives for sales of the contracts to their
customers. We do not expect the compensation we pay to such broker-dealers
(including Signator) and financial institutions to exceed 7.0% of premium
payments (on a present value basis) for sales of the contracts described in this
prospectus. For limited periods of time, we may pay additional compensation to
broker-dealers as part of special sales promotions. We offer these contracts on
a continuous basis, but neither JHVLICO nor Signator is obligated to sell any
particular amount of contracts. We also reimburse Signator for direct and
indirect expenses actually incurred in connection with the marketing of these
contracts.

EXPERTS

REGISTRATION STATEMENT

This prospectus omits certain information contained in the registration
statement filed with the SEC. Among other things, the registration statement
contains a "Statement of Additional Information" that we will send you without
charge upon request. The Table of Contents of the Statement of Additional
Information lists the following subjects that it covers:

page of SAI

DISTRIBUTION . . . . . . . . . . . . . . . . . 2
CALCULATION OF PERFORMANCE DAT . . . . . . . . 2
OTHER PERFORMANCE INFORMATION . . . . . . . . 16
CALCULATION OF ANNUITY PAYMENTS . . . . . . . 16
ADDITIONAL INFORMATION
ABOUT DETERMINING UNIT VALUES . . . . . . . . 18
PURCHASES AND
REDEMPTIONS OF FUND SHARES . . . . . . . . . 19
THE ACCOUNT . . . . . . . . . . . . . . . . . 19
DELAY OF CERTAIN PAYMENTS . . . . . . . . . . 20
LIABILITY FOR TELEPHONE TRANSFERS . . . . . . 20
VOTING PRIVILEGES . . . . . . . . . . . . . . 21
FINANCIAL STATEMENTS . . . . . . . . . . . . . 22

CONDENSED FINANCIAL INFORMATION
FOR JOHN HANCOCK VARIABLE ANNUITY ACCOUNT JF

The following table provides selected data for Declaration accumulation shares
for contracts with initial premium payments of less than $250,000. Each period
begins on January 1, except that the first year of operation of an investment
option begins on the date shown in the Notes at the end of this table.

Year Ended Year Ended Year Ended Year Ended
December 31, December 31, December 31, December 31,
2002 2001 2000 1999
------------ ------------ ------------ ------------

EQUITY INDEX
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . $17.58 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . $13.49 $17.58 -- --
Number of Accumulation Shares outstanding at end of period . . 366,608 447,352 -- --
GROWTH & INCOME
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . $7.36 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . $5.66 $7.36 -- --
Number of Accumulation Shares outstanding at end of period . . 1,034,165 1,326,556 -- --
FUNDAMENTAL GROWTH
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . $9.86 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . $6.79 $9.86 -- --
Number of Accumulation Shares outstanding at end of period . . 114,921 167,698 -- --
SMALL CAP GROWTH
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . $14.19 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . $9.81 $14.19 -- --
Number of Accumulation Shares outstanding at end of period . . 270,532 334,521 -- --
INTERNATIONAL OPPORTUNITIES
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . . . . . $10.00 -- -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . $6.72 -- -- --
Number of Accumulation Shares outstanding at end of period . . 103,370 -- -- --
FINANCIAL INDUSTRIES (Note 2)
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . . . . . $14.58 $17.90 $14.25 $14.36
End of period . . . . . . . . . . . . . . . . . . . . . . . . $11.60 $14.58 $17.90 $14.25
Number of Accumulation Shares outstanding at end of period . . 946,719 1,210,792 1,113,582 1,506,906
ACTIVE BOND
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . $10.39 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . $11.00 $10.39 -- --
Number of Accumulation Shares outstanding at end of period . . 400,122 341,607 -- --
MONEY MARKET
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . $10.12 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . $10.15 $10.12 -- --
Number of Accumulation Shares outstanding at end of period . . 552,435 457,386 -- --

Year Ended Year Ended
December 31, December 31,
1998 1997
------------ ------------

EQUITY INDEX
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . -- --
Number of Accumulation Shares outstanding at end of period . . -- --
GROWTH & INCOME
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . -- --
Number of Accumulation Shares outstanding at end of period . . -- --
FUNDAMENTAL GROWTH
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . -- --
Number of Accumulation Shares outstanding at end of period . . -- --
SMALL CAP GROWTH
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . -- --
Number of Accumulation Shares outstanding at end of period . . -- --
INTERNATIONAL OPPORTUNITIES
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . . . . . -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . -- --
Number of Accumulation Shares outstanding at end of period . . -- --
FINANCIAL INDUSTRIES (Note 2)
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . . . . . $13.39 $10.00
End of period . . . . . . . . . . . . . . . . . . . . . . . . $14.36 $13.39
Number of Accumulation Shares outstanding at end of period . . 1,826,652 645,730
ACTIVE BOND
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . -- --
Number of Accumulation Shares outstanding at end of period . . -- --
MONEY MARKET
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . -- --
Number of Accumulation Shares outstanding at end of period . . -- --

(1) Values shown for 2001 begin on November 15, 2001.

(2) Values shown for Financial Industries are based on Account holdings of the
predecessor fund and begin on April 30, 1997.

The following table provides selected data for Declaration accumulation shares
for contracts with initial premium payments of $250,000 or more. Each period
begins on January 1, except that the first year of operation of an investment
option begins on the date shown in the Notes at the end of this table.

Year Ended Year Ended Year Ended Year Ended
December 31, December 31, December 31, December 31,
2002 2001 2000 1999
------------ ------------ ------------ ------------

EQUITY INDEX
Accumulation share value:
Beginning of period (Note 1). . . . . . . . . . . . . . . . . . . $14.56 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . $11.20 $14.56 -- --
Number of Accumulation Shares outstanding at end of period . . . . 59,634 75,420 -- --
GROWTH & INCOME
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . . . $12.97 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . $9.99 $12.97 -- --
Number of Accumulation Shares outstanding at end of period . . . . 26,987 92,665 -- --
FUNDAMENTAL GROWTH
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . . . $10.43 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . $7.20 $10.43 -- --
Number of Accumulation Shares outstanding at end of period . . . . 33,826 64,187 -- --
SMALL CAP GROWTH
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . . . $16.57 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . $11.49 $16.57 -- --
Number of Accumulation Shares outstanding at end of period . . . . 29,369 50,072
INTERNATIONAL OPPORTUNITIES
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . . . $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . $6.79 -- -- --
Number of Accumulation Shares outstanding at end of period . . . . 7,963 -- -- --
FINANCIAL INDUSTRIES (Note 2)
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . . . . . . . $14.74 $18.06 $14.35 $14.42
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . $11.76 $14.74 $18.06 $14.35
Number of Accumulation Shares outstanding at end of period . . . . 95,524 155,926 115,989 93,950
ACTIVE BOND
Accumulation share value:
Beginning of period (Note 1) $13.20 $10.00 -- --
End of period $14.02 $13.20 -- --
Number of Accumulation Shares outstanding at end of period 8,785 9,232 -- --
MONEY MARKET
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . . . $12.11 $10.00 -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . $12.17 $12.11 -- --
Number of Accumulation Shares outstanding at end of period . . . . 28,641 20,225

Year Ended Year Ended
December 31, December 31,
1998 1997
------------ ------------

EQUITY INDEX
Accumulation share value:
Beginning of period (Note 1). . . . . . . . . . . . . . . . . . . -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . -- --
Number of Accumulation Shares outstanding at end of period . . . . -- --
GROWTH & INCOME
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . . . -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . -- --
Number of Accumulation Shares outstanding at end of period . . . . -- --
FUNDAMENTAL GROWTH
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . . . -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . -- --
Number of Accumulation Shares outstanding at end of period . . . . -- --
SMALL CAP GROWTH
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . . . -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . -- --
Number of Accumulation Shares outstanding at end of period . . . .
INTERNATIONAL OPPORTUNITIES
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . . . -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . -- --
Number of Accumulation Shares outstanding at end of period . . . . -- --
FINANCIAL INDUSTRIES (Note 2)
Accumulation share value:
Beginning of period . . . . . . . . . . . . . . . . . . . . . . . $13.41 $10.00
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . $14.42 $13.41
Number of Accumulation Shares outstanding at end of period . . . . 149,851 73,106
ACTIVE BOND
Accumulation share value:
Beginning of period (Note 1) -- --
End of period -- --
Number of Accumulation Shares outstanding at end of period -- --
MONEY MARKET
Accumulation share value:
Beginning of period (Note 1) . . . . . . . . . . . . . . . . . . . -- --
End of period . . . . . . . . . . . . . . . . . . . . . . . . . . -- --
Number of Accumulation Shares outstanding at end of period . . . .

(1) Values shown for 2001 begin on November 15, 2001.

(2) Values shown for Financial Industries begin on April 30, 1997 and are
based on Account holdings of the predecessor fund.

APPENDIX A - DETAILS ABOUT OUR GUARANTEED PERIODS

INVESTMENTS THAT SUPPORT OUR GUARANTEE PERIODS

We invest the non-unitized separate account assets, according to our detailed
investment policies and guidelines, in fixed income obligations, including:

. corporate bonds,

. mortgages,

. mortgage-backed and asset-backed securities, and

. government and agency issues.

GUARANTEED INTEREST RATES

We declare the guaranteed rates from time to time as market conditions and
other factors dictate. We advise you of the guaranteed rate for a selected
guarantee period at the time we:

. receive your premium payment,

. effectuate your transfer, or

. renew your guarantee period.

COMPUTATION OF MARKET VALUE ADJUSTMENT

( 1+g )/n/12/
--------- -1
(1+c+0.005)

where,

. G is the guaranteed rate in effect for the current guarantee period.

not currently offering such a guarantee period, we will declare a
guarantee rate, solely for this purpose, consistent with interest
rates currently available.

. N is the number of complete months from the date of withdrawal to the
end of the current guarantee period. (If less than one complete
month remains, N equals one unless the withdrawal is made on the last
day of the guarantee period, in which case no adjustment applies.)

SAMPLE CALCULATION 1: POSITIVE ADJUSTMENT

Market value adjustment:

[( 1+0.04 )/36/12/ ]
10,000x[------------ -1]= -145.63
[(1+0.03+0.005) ]

Amount withdrawn or transferred (adjusted for market value adjustment): $10,000
+ $145.63 = $10,145.63

SAMPLE CALCULATION 2: NEGATIVE ADJUSTMENT

- -------------------------------------------------------------------------------------
Amount withdrawn or transferred $10,000
- -------------------------------------------------------------------------------------
Guarantee period 5 years
- -------------------------------------------------------------------------------------
Time of withdrawal or transfer beginning of 3rd year of guaranteed period
- -------------------------------------------------------------------------------------
Guaranteed rate (g) 4%
- -------------------------------------------------------------------------------------
Guaranteed rate for new 3 year 5%
guarantee (c)
- -------------------------------------------------------------------------------------
Remaining guarantee period(n) 36 months
- -------------------------------------------------------------------------------------

Market value adjustment:

[( 1+0.04 )/36/12/ ]
10,000x[------------ -1]= -420.50
[(1+0.05+0.005) ]

Amount withdrawn or transferred (adjusted for money market adjustment): $10,000
- - 420.50 = $9,579.50

________________________________________________________________________

*All interest rates shown have been arbitrarily chosen for purposes of these
examples. In most cases they will bear little or no relation to the rates we
are actually guaranteeing at any time.

APPENDIX B - EXAMPLE OF WITHDRAWAL CHARGE CALCULATION

ASSUME THE FOLLOWING FACTS:

On January 1, 1997, you make a $5000 initial premium payment and we issue you
a contract.

On January 1, 1998, you make a $1000 premium payment

On January 1, 1999, you make a $1000 premium payment.

On January 1, 2000, the total value of your contract is $9000 because of good
investment earnings.

Now assume you make a partial withdrawal of $6000 (no tax withholding) on
January 2, 2000. In this case, assuming no prior withdrawals, we would
deduct a CDSL of $272.23. We withdraw a total of $6272.23 from your
contract.

$6000.00 -- withdrawal request payable to you
+ 272.23 -- withdrawal charge payable to us
--------
$6272.23 -- total amount withdrawn from your contract

HERE IS HOW WE DETERMINE THE WITHDRAWAL CHARGE:

1. We FIRST reduce your $5,000 INITIAL PREMIUM PAYMENT by the three annual $30
contract fees we assessed on January 1, 1998, 1999, and 2000. We withdraw
the remaining $4910 from your contract.

$ 5000
-30 -- 1998 contract fee payable to us
-30 -- 1999 contract fee payable to us
-30 -- 2000 contract fee payable to us
--------
$ 4910 -- amount of your initial premium payment we would consider to be
withdrawn.

Under the free withdrawal provision, we deduct 10% of the total value of your
contract at the beginning of the contract year, or $900 (.10 x $9000). We
pay the $900 to you as part of your withdrawal request, and we assess a
withdrawal charge on the remaining balance of $4010. Because you made the
initial premium payment 3 years ago, the withdrawal charge percentage is
5%. We deduct the resulting $200.50 from your contract to cover the
withdrawal charge on your initial premium payment. We pay the remainder of
$3809.50 to you as a part of your withdrawal request.

$ 4910
-900 -- free withdrawal amount (payable to you)
--------
$ 4010
x .05
--------
$ 200.50 -- withdrawal charge on initial premium payment (payable to us)

$4010.00
-200.50
--------
3809.50 -- part of withdrawal request payable to you

2. We NEXT deem the entire amount of your 1998 PREMIUM PAYMENT to be withdrawn
and we assess a withdrawal charge on that $1000 amount. Because you made this
premium payment 2 years ago, the withdrawal charge percentage is 5%. We
deduct the resulting $50 from your contract to cover the withdrawal charge on
your 1998 premium payment. We pay the remainder of $950 to you as a part of
your withdrawal request.

$ 1000
x.05
--------
$ 50 -- withdrawal charge on 1998 premium payment (payable to us)

$ 1000
- 50
--------
$950 -- part of withdrawal request payable to you

3. We NEXT determine what additional amount we need to withdraw to provide you
with the total $6000 you requested, after the deduction of the withdrawal
charge on that additional amount. We have already allocated $900 from the
free withdrawal amount, $3809.50 from your initial premium payment, and $950
from your 1998 premium payment. Therefore, $340.50 is needed to reach $6000.

$6000.00 -- total withdrawal amount requested
-900.00 -- free withdrawal amount
-3809.50 -- payment deemed from initial premium payment
-950.00 -- payment deemed from 1998 premium payment
--------
$ 340.50 -- additional payment to you needed to reach $6000

We know that the withdrawal charge percentage for this remaining amount is
6%, because you are already deemed to have withdrawn all premiums you paid
prior to 1999. We use the following formula to determine how much more we
need to withdraw:

Remainder due to you = Withdrawal needed - [applicable withdrawal charge
percentage times withdrawal needed]

$ 340.50 = x -[.06x]
$ 340.50 = .94x

$ 340.5
--------
0.94 = x
$ 362.23 = x

$ 362.23 -- deemed withdrawn from 1999 premium payment
-$340.50 -- part of withdrawal request payable to you
--------
$ 21.73 -- withdrawal charge on 1999 premium deemed withdrawn (payable
to us)

$ 200.50 -- withdrawal charge on the initial premium payment
50.00 -- withdrawal charge on the 1998 premium payment
21.73 -- withdrawal charge on the 1999 premium payment
--------
$272.23 -- Total withdrawal charge
========

PROSPECTUS DATED MAY 1, 2003

PATRIOT VARIABLE ANNUITY

a deferred combination fixed and variable annuity contract issued by
JOHN HANCOCK VARIABLE LIFE INSURANCE COMPANY ("JHVLICO")
JOHN HANCOCK VARIABLE ANNUITY ACCOUNT JF

The contract enables you to earn fixed rates of interest that we guarantee
for stated periods of time ("guarantee periods") and investment-based
returns in the following variable investment options:

- ----------------------------------------------------------------------------------------------------------------------
VARIABLE INVESTMENT OPTIONS: UNDERLYING FUND MANAGED BY:

EQUITY OPTIONS:
Equity Index . . . . . . . . . . . . . SSgA Funds Management, Inc.
Large Cap Value . . . . . . . . . . . . T. Rowe Price Associates, Inc.
Large Cap Growth . . . .. . . . . . . . Independence Investment LLC
Earnings Growth . . . .. . . . . . . . Fidelity Management & Research Company
Growth & Income . . . .. . . . . . .. . Independence Investment LLC and Putnam Investment Management, LLC
Fundamental Value. . .. . . . . . . . . Wellington Management Company, LLP
Fundamental Growth. . . . . . . . . . . Putnam Investment Management, LLC
Small/Mid Cap CORE /SM/ . . . . . . . . Goldman Sachs Asset Management, L.P.
Small Cap Growth . . . .. . . . . . . . John Hancock Advisers, LLC
Small Cap Emerging Growth . . . . . . . Wellington Management Company, LLP
International Equity Index. . . . . . . Independence Investment LLC
International Opportunities . . . . . . T. Rowe Price International, Inc.
Overseas Equity . . . . . . . . . . . . Capital Guardian Trust Company
Emerging Markets Equity . . . . . . . . Van Kampen (a registered trade name of Morgan Stanley Investment
Management Inc.)
Real Estate Equity . . .. . . . . . . . RREEF America LLC and Van Kampen (a registered trade name of Morgan
Stanley Investment Management Inc.)
Financial Industries. . . . . . . . . . John Hancock Advisers, LLC

BALANCED OPTIONS:
Managed. . . . . . . .. . . . . . . . . Independence Investment LLC and Capital Guardian Trust Company

BOND & MONEY MARKET OPTIONS:
Short-Term Bond . . . . . . . . . . . . Independence Investment LLC
Bond Index . . . . . . .. . . . . . . . Standish Mellon Asset Management Company LLC
Active Bond . . . . .. . . . . . . . . John Hancock Advisers, LLC
High Yield Bond . . . .. . . . . . . . Wellington Management Company, LLP
Global Bond . . . . . .. . . . . . . . Capital Guardian Trust Company
Money Market . . . . . . . . . . . . . Wellington Management Company, LLP
- ----------------------------------------------------------------------------------------------------------------------

The variable investment options shown on page 1 are those available as of
the date of this prospectus. We may add, modify or delete variable investment
options in the future.

JOHN HANCOCK ANNUITY SERVICING OFFICE
-------------------------------------

MAIL DELIVERY
-------------
P.O. Box 772
Boston, MA 02117

OVERNIGHT DELIVERY
------------------
John Hancock Annuity Image Operations
27 Dry Dock Avenue, Second floor
South Boston, MA 02110

PHONE: 1-800-824-0335

FAX: 1-617-572-1571

********************************************************************************

Please note that the SEC has not approved or disapproved these securities,
or determined if this prospectus is truthful or complete. Any representation to
the contrary is a criminal offense.

GUIDE TO THIS PROSPECTUS

This prospectus contains information that you should know before you buy a
contract or exercise any of your rights under the contract. We have arranged the
prospectus in the following way:

. The first section contains an "INDEX OF KEY WORDS."

. Behind the index is the "FEE TABLE." This section highlights the
various fees and expenses you will pay directly or indirectly, if
you purchase a contract.

. The next section is called "BASIC INFORMATION." It contains basic
information about the contract presented in a question and answer
format. You should read the Basic Information before reading any
other section of the prospectus.

. Behind the Basic Information is "ADDITIONAL INFORMATION." This
section gives more details about the contract. It generally does
not repeat information contained in the Basic Information.

. "CONDENSED FINANCIAL INFORMATION" follows the "Additional
Information." This gives some basic information about the size
and past performance of the variable investment options.

The Series Funds' prospectuses are attached at the end of this prospectus. You
should save these prospectuses for future reference.

IMPORTANT NOTICES

INDEX OF KEY WORDS

We define or explain each of the following key words used in this
prospectus on the pages shown below:

KEY WORD PAGE

Accumulation units................................... 26
Annuitant............................................ 10
Annuity payments..................................... 12
Annuity period....................................... 27
Contract year........................................ 10
Date of issue........................................ 10
Date of maturity..................................... 27
Free withdrawal amount............................... 16
Funds................................................ 2
Guarantee periods.................................... 2
Investment options................................... 13
Market value adjustment.............................. 12
Premium payments..................................... 10
Surrender............................................ 17
Surrender value...................................... 17
Variable investment options.......................... cover
Withdrawal........................................... 16
Withdrawal charge.................................... 16

FEE TABLES

THE FOLLOWING TABLES DESCRIBE THE FEES AND EXPENSES THAT YOU WILL PAY WHEN
BUYING, OWNING AND SURRENDERING A PATRIOT VARIABLE ANNUITY CONTRACT. THE FIRST
TABLE DESCRIBES THE CHARGES THAT YOU WILL PAY AT THE TIME THAT YOU BUY THE
CONTRACT, SURRENDER THE CONTRACT, OR TRANSFER ACCOUNT VALUE BETWEEN INVESTMENT
OPTIONS. STATE PREMIUM TAXES MAY ALSO BE DEDUCTED.

- -------------------------------------------------------------------------------
Contractowner Transaction Expenses Patriot Variable Annuity
- -------------------------------------------------------------------------------

Maximum Withdrawal Charge (as % of amount 6% within 2 years
withdrawn or surrendered)/1/ 5% within 4 years
4% within 5 years
3% within 6 years
2% within 7 years
0% thereafter
- -------------------------------------------------------------------------------

/1/ This charge is taken upon withdrawal or surrender within the specified
period of years measured from the date of premium payment.

THE NEXT TABLE DESCRIBES THE FEES AND EXPENSES THAT YOU WILL PAY
PERIODICALLY DURING THE TIME YOU OWN THE CONTRACT. THIS TABLE DOES NOT INCLUDE
FEES AND EXPENSES PAID AT THE FUND LEVEL.

- -------------------------------------------------------------------------------
Patriot Variable Annuity
- -------------------------------------------------------------------------------

Maximum Annual Contract Fee/2/ $50
- -------------------------------------------------------------------------------
Current Annual Contract Fee/3/ $30
- -------------------------------------------------------------------------------
Separate Account Annual Expenses
(as a percentage of average
account value)/4/
CONTRACTS WITH INITIAL PREMIUM
PAYMENT LESS THAN $250,000:
Mortality and Expense Risk 0.90%
Charge 0.35%
Administrative Services Charge -----
Total Separate Account Annual 1.25%
Expenses
CONTRACTS WITH INITIAL PREMIUM
PAYMENT OF $250,000 OR MORE:
Mortality and Expense Risk 0.90%
Charge 0.10%
Administrative Services Charge -----
Total Separate Account Annual
Expenses 1.00%
- -------------------------------------------------------------------------------
Optional Benefit Rider Charges/5/
- -------------------------------------------------------------------------------
Enhanced "Stepped-Up" Death 0.15% of your contract's total value
Benefit Rider
- -------------------------------------------------------------------------------
Accidental Death Benefit Rider 0.10% of your contract's total value
- -------------------------------------------------------------------------------
Nursing Home Waiver 0.05% of that portion of your contract's
total value attributable to premiums that
are still subject to withdrawal charges
- -------------------------------------------------------------------------------

/2/ This charge is not currently imposed, and would only apply to
contracts of less than $10,000.

/3/ This charge applies only to contracts of less than $10,000. It is
taken at the end of each contract year but, if you surrender a
contract before then, it will be taken at the time of surrender.

/4/ This charge only applies to that portion of account value held in the
variable investment options. The charge does not apply to amounts in
the guarantee periods.

/5/ Charges for optional benefit riders are assessed monthly. The monthly
charge is 1/12/th/ of the annual charge shown in the table.

THE NEXT TABLE DESCRIBES THE MINIMUM AND MAXIMUM TOTAL OPERATING EXPENSES
CHARGED BY THE FUNDS THAT YOU MAY PAY PERIODICALLY DURING THE TIME YOU OWN A
PATRIOT VARIABLE ANNUITY CONTRACT. MORE DETAIL CONCERNING EACH FUND'S FEES AND
EXPENSES IS CONTAINED IN THE SERIES FUND'S PROSPECTUS.

- ------------------------------------------------------------------------------------------------------
Total Annual Fund Operating
Expenses Minimum Maximum
- ------------------------------------------------------------------------------------------------------

Range of expenses that are deducted from fund 0.23% 3.45%
assets, including management fees, distribution
and/ or service (12b-1) fees, and other expenses
- ------------------------------------------------------------------------------------------------------
Range of expenses after taking account of certain 0.23% 1.60%*
reimbursements or waivers of expenses and fees
- ------------------------------------------------------------------------------------------------------

* Under its current investment management agreements with the John Hancock
Variable Series Trust I ("JHVST"), John Hancock Life Insurance Company has
contractually agreed to reimburse each JHVST fund when the fund's "other
fund expenses" exceed 0.10% of its average daily net assets. The agreements
will remain in effect until May 1, 2004, and may be renewed each year
thereafter by the John Hancock Variable Series Trust I. The following table
lists the JHVST funds available under your contract that are subject to
these agreements. See the prospectus for the Series Fund for other
information on reimbursement or waiver arrangements affecting the funds.

THE NEXT TABLE DESCRIBES FUND LEVEL FEES AND EXPENSES FOR EACH OF THE FUNDS.
MORE DETAIL CONCERNING EACH FUND'S FEES AND EXPENSES IS CONTAINED IN THE
PROSPECTUS FOR THE SERIES FUND.

(1) Under its current investment management agreements with the John Hancock
Variable Series Trust I ("JHVST"), John Hancock Life Insurance Company has
contractually agreed to reimburse each JHVST fund when the fund's "other
fund expenses" exceed 0.10% of its average daily net assets. The agreements
will remain in effect until May 1, 2004, and may be renewed each year
thereafter by JHVST. Percentages shown for the Large Cap Growth and
Small/Mid Cap CORE/SM/ funds are calculated as if the current management
fee schedules, which apply to these funds effective October 1, 2002, were
in effect for all of 2002. Percentages shown for the Small Cap Emerging
Growth fund are calculated as if the current management fee schedule, which
applies to this fund effective May 1, 2003, was in effect for all of 2002.
The percentages shown for the Financial Industries Fund are based on the
fund's current management fee schedule and the operating expenses and
average daily net assets of the fund's predecessor during 2002."CORE/SM/"
is a service mark of Goldman, Sachs & Co.
* Earnings Growth was formerly "Multi Cap Growth," Small Cap Emerging Growth
was formerly "Small Cap Equity," and Overseas Equity was formerly "Global
Balanced."

EXAMPLES

THE FOLLOWING TWO EXAMPLES ARE INTENDED TO HELP YOU COMPARE THE COST OF
INVESTING IN A PATRIOT VARIABLE ANNUITY CONTRACT WITH THE COST OF INVESTING IN
OTHER VARIABLE ANNUITY CONTRACTS. THESE COSTS INCLUDE CONTRACT OWNER TRANSACTION
EXPENSES, CONTRACT FEES, SEPARATE ACCOUNT ANNUAL EXPENSES AND FUND FEES AND
EXPENSES.

Patriot Variable Annuity - maximum fund-level total operating expenses
- ----------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------

1 YEAR 3 YEARS 5 YEARS 10 YEARS
-------------------------------------------------------------------------------------------------------------

(1) IF YOU SURRENDER YOUR ALL RIDER CONTRACT AT THE END OF THE
APPLICABLE TIME PERIOD: $865 $1804 $2744 $4952
-------------------------------------------------------------------------------------------------------------
(2) IF YOU ANNUITIZE YOUR ALL RIDER CONTRACT AT THE END OF THE
APPLICABLE TIME PERIOD: $325 $1355 $2385 $4952
-------------------------------------------------------------------------------------------------------------
(3) IF YOU DO NOT SURRENDER YOUR ALL RIDER CONTRACT: $325 $1355 $2385 $4952
-------------------------------------------------------------------------------------------------------------

ALTHOUGH YOUR ACTUAL COSTS MAY BE HIGHER OR LOWER, BASED ON THESE
ASSUMPTIONS, YOUR COSTS WOULD BE:

Patriot Variable Annuity - minimum fund-level total operating expenses
- ----------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------

1 YEAR 3 YEARS 5 YEARS 10 YEARS
-------------------------------------------------------------------------------------------------------------

(1) IF YOU SURRENDER YOUR NO RIDER CONTRACT AT THE END OF THE
APPLICABLE TIME PERIOD: $695 $930 $1170 $1813
-------------------------------------------------------------------------------------------------------------
(2) IF YOU ANNUITIZE YOUR NO RIDER CONTRACT AT THE END OF THE
APPLICABLE TIME PERIOD: $155 $480 $ 829 $1813
-------------------------------------------------------------------------------------------------------------
(3) IF YOU DO NOT SURRENDER YOUR NO RIDER CONTRACT: $155 $480 $ 829 $1813
-------------------------------------------------------------------------------------------------------------

BASIC INFORMATION

This "Basic Information" section provides answers to commonly asked questions
about the contract. Here are the page numbers where the questions and answers
appear:

QUESTION STARTING ON PAGE
-------- ----------------

What is the contract?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Who owns the contract? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Is the owner also the annuitant? . . . . . . . . . . . . . . . . . . . . . . . . 10

How can I invest money in a contract?. . . . . . . . . . . . . . . . . . . . . . 10

How will the value of my investment in the contract change over time?. . . . . . 12

What annuity benefits does the contract provide? . . . . . . . . . . . . . . . . 12

To what extent can JHVLICO vary the terms and conditions of the contracts? . . . 13

What are the tax consequences of owning a contract?. . . . . . . . . . . . . . . 13

How can I change my contract's investment allocations? . . . . . . . . . . . . . 13

What fees and charges will be deducted from my contract? . . . . . . . . . . . . 15

How can I withdraw money from my contract? . . . . . . . . . . . . . . . . . . . 17

What happens if the annuitant dies before my contract's date of maturity?. . . . 18

What additional guarantee applies to the guarantee periods under my contract?. . 19

What are the terms of the additional guarantee?. . . . . . . . . . . . . . . . . 20

WHAT IS THE CONTRACT?

The contract is a deferred payment variable annuity contract. An "annuity
contract" provides a person (known as the "annuitant" or "payee") with a series
of periodic payments. Because this contract is also a "deferred payment"
contract, the annuity payments will begin on a future date, called the
contract's "date of maturity." Under a "variable annuity" contract, the amount
you have invested can increase or decrease in value daily based upon the value
of the variable investment options chosen. If your annuity is provided under a
master group contract, the term "contract" as used in this prospectus refers to
the certificate you will be issued and not to the master group contract.

WHO OWNS THE CONTRACT?

IS THE OWNER ALSO THE ANNUITANT?

HOW CAN I INVEST MONEY IN A CONTRACT?

Premium payments

Applying for a contract

Once we receive your initial premium payment and all necessary information,
we will issue your contract and invest your initial premium payment within two
business days. If the information is not in good order, we will contact you to
get the necessary information. If for some reason, we are unable to complete
this process within 5 business days, we will either send back your money or get
your permission to keep it until we get all of the necessary information.

In certain situations, we will issue a contract upon receiving the order
from your broker-dealer or financial institution but delay the effectiveness of
the contract until we receive your signed application. In those situations, if
we do not receive your signed application within our required time period, we
will deem the contract void from the beginning and return your premium payment.

We measure the years and anniversaries of your contract from its date of
issue. We use the term contract year to refer to each period of time between
anniversaries of your contract's date of issue.

Limits on premium payments

$1,000,000. While the annuitant is alive and the contract is in force, you can
make premium payments at any time until the annuitant reaches age 84 1/2.
However,

---------------------------------------------------------------------------
YOU MAY NOT MAKE ANY PREMIUM
PAYMENTS AFTER THE ANNUITANT
IF YOUR CONTRACT IS USED TO FUND REACHES AGE
---------------------------------------------------------------------------
a "tax qualified plan"* 70 1/2**
---------------------------------------------------------------------------
a non-tax qualified plan 84 1/2
---------------------------------------------------------------------------
* as that term is used in "Tax Information," beginning on page 31.
** except for a Roth IRA, which has no age limit.

We will not issue a contract if the proposed annuitant is older than age
84. We may waive any of these limits, however.

Ways to make premium payments

Premium payments made by check or money order should be:

. drawn on a U.S. bank,

. drawn in U.S. dollars, and

. made payable to "John Hancock."

We will not accept credit card checks. Nor will we accept starter or third
party checks that fail to meet our administrative requirements.

Premium payments after the initial premium payment should be sent to:

--------------------------------------------------
JOHN HANCOCK ANNUITY SUBSEQUENT PAYMENTS, X-4
---------------------------------------------

MAIL DELIVERY
-------------
1 John Hancock Way
Suite 1501
Boston, MA 02117-1501

OVERNIGHT DELIVERY
------------------
529 Main Street
Charleston, MA 02129
--------------------------------------------------

We will accept your initial premium payment by exchange from another
insurance company. You can find information about wire payments under "Premium
payments by wire," below. You can find information about other methods of
premium payment by contacting your broker-dealer or by contacting the John
Hancock Annuity Servicing Office.

Once we have issued your contract and it becomes effective, we credit you
with any additional premiums you pay as of the day we receive them.

Premium payments by wire

. issue a contract;

. accept premium payments; or

. allow other transactions.

After we issue your contract, subsequent premium payments may be
transmitted by wire through your bank. Information about our bank, our account
number, and the ABA routing number may be obtained from the John Hancock Annuity
Servicing Office. Banks may charge a fee for wire services.

HOW WILL THE VALUE OF MY INVESTMENT IN THE CONTRACT CHANGE OVER TIME?

Like a regular mutual fund, each fund deducts investment management fees
and other operating expenses. These expenses are shown in the Fee Tables.
However, unlike a mutual fund, we will also deduct charges relating to the
annuity guarantees and other features provided by the contract. These charges
reduce your investment performance and the amount we credit to your contract in
any variable investment option. We describe these charges under "What fees and
charges will be deducted from my contract?" beginning on page 15.

The amount you've invested in a guarantee period will earn interest at the
rate we have set for that period. The interest rate depends upon the length of
the guarantee period you select. In states where approved, we currently make
available various guarantee periods with durations of up to ten years. As long
as you keep your money in a guarantee period until its expiration date, we bear
all the investment risk on that money.

However, if you prematurely transfer, "surrender" or otherwise withdraw
money from a guarantee period we will increase or reduce the remaining value in
your contract by an amount that approximates the impact that any changes in
interest rates would have had on the market value of a debt instrument with
terms comparable to that guarantee period. This "market value adjustment" (or
"MVA") imposes investment risks on you. We describe how the market value
adjustments work in "Calculation of market value adjustment ("MVA")" beginning
on page 24.

At any time before the date of maturity, the total value of your contract
equals

. the total amount you invested,

. minus all charges we deduct,

. minus all withdrawals you have made,

. plus or minus any positive or negative MVAs that we have made at the time of
any premature withdrawals or transfers you have made from a guarantee
period,

. plus or minus each variable investment option's positive or negative
investment return that we credit daily to any of your contract's value daily
while it is in that option, and

. plus the interest we credit to any of your contract's value while it is in a
guarantee period.

WHAT ANNUITY BENEFITS DOES A CONTRACT PROVIDE?

If your contract is still in effect on its date of maturity, it enters what
is called the annuity period. During the annuity period, we make a series of
fixed or variable payments to you as provided under one of our several annuity
options. The form in which we will make the annuity payments, and the proportion
of such payments that will be on a fixed basis and on a variable basis, depend
on the elections that you have in effect on the date of maturity. Therefore, you
should exercise care in selecting your date of maturity and your choices that
are in effect on that date.

You should carefully review the discussion under "The annuity period,"
beginning on page 27, for information about all of these choices you can make.

TO WHAT EXTENT CAN JHVLICO VARY THE TERMS AND CONDITIONS OF THE CONTRACTS?

State law insurance requirements

Variations in charges or rates

We may vary the charges, guarantee periods, and other terms of our
contracts where special circumstances result in sales or administrative
expenses, mortality risks or other risks that are different from those normally
associated with the contracts. These include the types of variations discussed
under "Certain changes" in the Additional Information section of this
prospectus.

WHAT ARE THE TAX CONSEQUENCES OF OWNING A CONTRACT?

In most cases, no income tax will have to be paid on amounts you earn under
a contract until these earnings are paid out. All or part of the following
distributions from a contract may constitute a taxable payout of earnings:

. partial withdrawal (including systematic withdrawals),

. full withdrawal ("surrender"),

. payment of any death benefit proceeds, and

. periodic payments under one of our annuity payment options.

How much you will be taxed on distribution is based upon complex tax rules and
depends on matters such as:

. the type of the distribution,

. when the distribution is made,

. the nature of any tax qualified retirement plan for which the contract is
being used, if any, and

. the circumstances under which the payments are made.

If your contract is issued in connection with a tax-qualified retirement
plan, all or part of your premium payments may be tax-deductible.

HOW CAN I CHANGE MY CONTRACT'S INVESTMENT ALLOCATIONS?

Allocation of premium payments

When you apply for your contract, you specify the variable investment
options or guarantee periods (together, your investment options) in which your
premium payments will be allocated. You may change this investment allocation
for future premium payments at any time. Any change in allocation will be
effective as of receipt of your request at the John Hancock Annuity Servicing
Office.

Currently, you may use a maximum of 18 investment options over the life of
your contract. For purposes of this limit, each contribution or transfer of
assets into a variable investment option or guarantee period that you are not
then using counts as one "use" of an investment option, even if you had used
that option at an earlier time. Renewing a guarantee period upon its expiration
does not count as a new use, however, if the new guarantee period has the same
number of years as the expiring one.

Transferring your assets

Up to 12 times during each year of your contract, you may transfer

. all or part of the assets held in one variable investment option to any
other available variable investment option or guarantee period, or

. all or part of the assets held in one guarantee period to any other
available guarantee period or variable investment option (these transfers
may, however, incur a market value adjustment - either positive or
negative).

Transfers under our dollar cost averaging program do not count toward the 12 you
are allowed each year. However, you may not:

. transfer assets within 30 days prior to the contract's date of maturity,

. transfer more than $1,000,000 in a contract year from any one variable
investment option or guarantee period, without our prior approval,

. make any transfer that would cause you to exceed the above-mentioned maximum
of 18 investment options,

. make any transfers, during the annuity period, to or from a fixed investment
option, or

. make any transfer during the annuity period that would result in more than
four investment options being used at once.

The contract you are purchasing was not designed for professional market
timing organizations or other persons or entities that use programmed or
frequent transfers. The use of such transfers may be disruptive to a Fund. We
reserve the right to reject any premium payment or transfer request from any
person, if in our judgment, a Fund would be unable to invest effectively in
accordance with its investment objectives and policies, or would otherwise be
potentially adversely affected.

Procedure for transferring your assets

. your name,

. daytime telephone number,

. contract number,

. the names of the investment options being transferred to and from each, and

. the amount of each transfer.

The request becomes effective on the day we receive your request, in proper
form, at the John Hancock Annuity Servicing Office.

Telephone transfers

reasonable procedures to confirm that instructions communicated by telephone are
genuine, we may be liable for any loss due to unauthorized or fraudulent
instructions.

Dollar cost averaging program

. you may elect the program only if the total value of your contract equals
$15,000 or more,

. the amount of each transfer must equal at least $250,

. you may change your variable investment allocation instructions at any time
in writing or, if you have authorized telephone transfers, by telephone,

. you may discontinue the program at any time,

. the program automatically terminates when the variable investment option
from which we are taking the transfers has been exhausted,

. automatic transfers to or from guarantee periods are not permitted.

We reserve the right to suspend or terminate the program at any time.

WHAT FEES AND CHARGES WILL BE DEDUCTED FROM MY CONTRACT?

Mortality and expense risk charge

Administrative services charge

Annual contract fee

Prior to the date of maturity of your contract, we will deduct the annual
contract fee shown in the Fee Tables. We deduct this annual contract fee at the
beginning of each contract year after the first contract year. We also deduct it
if you surrender your contract. We take the deduction proportionally from each
variable investment option and each guarantee period you are then using. We
reserve the right to increase the annual contract fee to $50.

Premium taxes

We make deductions for any applicable premium or similar taxes based on the
amount of a premium payment. Currently, certain local jurisdictions assess a tax
of up to 5% of each premium payment.

Withdrawal charge

If you withdraw some money from your contract prior to the date of maturity
(a partial withdrawal) or if you surrender (turn in) your contract, in its
entirety, for cash prior to the date of maturity (a total withdrawal or
surrender), we may assess a withdrawal charge. Some people refer to this charge
as a "contingent deferred withdrawal load." We use this charge to help defray
expenses relating to the sales of the contracts, including commissions paid and
other distribution costs.

Here's how we determine the charge: In any contract year, you may withdraw
up to 10% of the total value of your contract (computed as of the beginning of
the contract year) without the assessment of any withdrawal charge. We refer to
this amount as the free withdrawal amount. However, if the amount you withdraw
or surrender totals more than the free withdrawal amount during the contract
year, we will assess a withdrawal charge on any amount of the excess that we
attribute to premium payments you made within seven years of the date of the
withdrawal or surrender.

The withdrawal charge percentage depends upon the number of years that have
elapsed from the date you paid the premium to the date of its withdrawal, as
shown in the Fee Tables.

Here's how we deduct the withdrawal charge: We deduct the withdrawal charge
proportionally from each variable investment option and each guarantee period
being reduced by the surrender or withdrawal. For example, if 60% of the
withdrawal amount comes from a "Growth" option and 40% from the Money Market
option, then we will deduct 60% of the withdrawal charge from the Growth option
and 40% from the Money Market option. If any such option has insufficient
remaining value to cover the charge, we will deduct any shortfall from all of
your other investment options, pro-rata based on the value in each. If your
contract as a whole has insufficient surrender value to pay the entire charge,
we will pay you no more than the surrender value.

You will find examples of how we compute the withdrawal charge in Appendix
B to this prospectus.

When withdrawal charges don't apply: We don't assess a withdrawal charge in
the following situations:

. on amounts applied to an annuity option at the contract's date of maturity
or to pay a death benefit;

. on certain withdrawals if you have elected the nursing home rider that
waives the withdrawal charge; and

. on amounts withdrawn to satisfy the minimum distribution requirements for
tax qualified plans. (Amounts above the minimum distribution requirements
are subject to any applicable withdrawal charge, however.)

Other charges

We deduct the optional benefit rider charges shown in the Fee Tables
proportionally from each of your investment options, including the guaranteed
periods, based on your value in each.

HOW CAN I WITHDRAW MONEY FROM MY CONTRACT?

Surrenders and partial withdrawals

Prior to your contract's date of maturity, if the annuitant is living, you
may:

. surrender your contract for a cash payment of its "surrender value," or

. make a partial withdrawal of the surrender value.

The surrender value of a contract is the total value of a contract, after
any market value adjustment, minus the annual contract fee and any applicable
premium tax and withdrawal charges. We will determine the amount surrendered or
withdrawn as of the date we receive your request at the John Hancock Annuity
Servicing Office.

Certain surrenders and withdrawals may result in taxable income to you or
other tax consequences as described under "Tax information," beginning on page
31. Among other things, if you make a full surrender or partial withdrawal from
your contract before you reach age 59 1/2, an additional federal penalty of 10%
generally applies to any taxable portion of the withdrawal.

We will deduct any partial withdrawal proportionally from each of your
investment options based on the value in each, unless you direct otherwise.

Without our prior approval, you may not make a partial withdrawal:

. for an amount less than $100, or

. if the remaining total value of your contract would be less than $1,000.

You generally may not make any surrenders or partial withdrawals once we
begin making payments under an annuity option.

Nursing home waiver of withdrawal charge

If your state permits, you may purchase an optional nursing home waiver of
withdrawal charge rider when you apply for a contract. Under this rider, we will
waive withdrawal charge on any withdrawals, provided all the following
conditions apply:

. you become confined to a nursing home beginning at least 90 days after we
issue your contract.

. you remain in the nursing home for at least 90 consecutive days and receive
skilled nursing care.

. we receive your request for a withdrawal and adequate proof of confinement
no later than 90 days after discharge from the facility.

. your confinement is prescribed by a doctor and medically necessary.

You may not purchase this rider if (1) you are older than 75 years at
application or (2) if you were confined to a nursing home within the past two
years.

You should carefully review the tax considerations for optional benefit
riders on page 31 before selecting this optional benefit rider. For a more
complete description of the terms and conditions of this benefit, you should
refer directly to the rider. We will provide you with a copy on request.

Systematic withdrawal plan

Our optional systematic withdrawal plan enables you to preauthorize
periodic withdrawals. If you elect this plan, we will withdraw a percentage or
dollar amount from your contract on a monthly, quarterly, semiannual, or annual
basis, based upon your instructions. Unless otherwise directed, we will deduct
the requested amount from each applicable investment option in the ratio that
the value of each bears to the total value of your contract. Each systematic
withdrawal is subject to any withdrawal charge or market value adjustment that
would apply to an otherwise comparable non-systematic withdrawal. See "How will
the value of my investment in the contract change over time?" beginning on page
12, and "What fees and charges will be deducted from my contract?" beginning on
page 15. The same tax consequences also generally will apply.

The following conditions apply to systematic withdrawal plans:

. you may elect the plan only if the total value of your contract equals
$15,000 or more,

. the amount of each systematic withdrawal must equal at least $100,

. if the amount of each withdrawal drops below $100 or the total value of your
contract becomes less than $5,000, we will suspend the plan and notify you,

. you may cancel the plan at any time.

We reserve the right to modify the terms or conditions of the plan at any
time without prior notice.

WHAT HAPPENS IF THE ANNUITANT DIES BEFORE MY CONTRACT'S DATE OF MATURITY?

Standard death benefit

If the annuitant dies before your contract's date of maturity, we will pay
a standard death benefit, unless you have elected an enhanced death benefit
rider. The standard death benefit is the greater of:

. the total value of your contract, adjusted by any then-applicable market
value adjustment, or

. the total amount of premium payments made, minus any partial withdrawals and
related withdrawal charges.

We calculate the death benefit value as of the day we receive, in proper
order at the John Hancock Annuity Servicing Office:

. proof of the annuitant's death, and

. any required instructions as to method of settlement.

Enhanced death benefit riders

"Stepped-up" death benefit rider

. the standard death benefit (described above) or

. the highest total value of your contract (adjusted by any market value
adjustment) as of any anniversary of your contract to date, PLUS any premium
payments you have made since that anniversary, MINUS any withdrawals you
have taken (and any related withdrawal charges) since that anniversary.

For these purposes, however, we count only those contract anniversaries
that occur (1) BEFORE we receive proof of death and any required settlement
instructions and (2) BEFORE the annuitant attains age 80 1/2.

Accidental death benefit rider

. the contract's date of maturity, and

. the annuitant's 80/th/ birthday.

. proof of the annuitant's death, and

. any required instructions as to method of settlement.

You may elect this rider ONLY when you apply for the contract. As long as
the rider is in effect, you will pay a monthly charge for this benefit. For a
description of this charge, refer to page 15 under "What fees and charges will
be deducted from my contract?"

You should carefully review the tax considerations for optional benefit
riders on page 30 before selecting this optional benefit rider. For a complete
description of the terms and conditions of this benefit, you should refer
directly to the rider. We will provide you with a copy upon request. Not all
states allow this benefit.

WHAT ADDITIONAL GUARANTEE APPLIES TO THE GUARANTEE PERIODS UNDER MY CONTRACT?

John Hancock Financial Services, Inc. ("JHFS") guarantees JHVLICO's
obligations with respect to any guarantee periods you have elected under the
contract on the date of this prospectus. JHFS' guarantee will also apply to any
new guarantee periods under your contract, unless and until we notify you
otherwise. (If we give you such notice, however, the JHFS guarantee would remain
in effect for all guarantee periods then had already started, and would be
inapplicable only to guarantee periods starting after the date of such notice.)
The JHFS guarantee does not relieve JHVLICO of any obligations under your
contract - - it is in addition to all of the rights and benefits that the
contract provides. There is no charge or cost to you for the JHFS guarantee, nor
are there any other disadvantages to you of having this additional guarantee.

Currently, JHVLICO's financial stability rating from A.M. Best Company,
Inc. is A++, the highest, based on the strength its direct parent, John Hancock
Life Insurance Company and the capital guarantee that JHFS (JHVLICO's ultimate
parent) has provided to JHVLICO. Standard & Poor's Corporation and Fitch IBCA
have assigned insurance claims-paying ability ratings to JHVLICO of AA, which
place JHVLICO in the third highest category by these rating agencies. Moody's
Investors Service, Inc. has assigned JHVLICO a financial strength rating of Aa3,
which is its fourth highest rating.

WHAT ARE THE TERMS OF THE ADDITIONAL GUARANTEE?

JHFS guarantees your full interest in any guarantee period. This means
that, if JHVLICO fails to honor any valid request to surrender, transfer, or
withdraw any amount from a guarantee period, or fails to allocate amounts from a
guarantee period to an annuity option when it is obligated to do so, JHFS
guarantees the full amount that you would have received, or value that you would
have been credited with, had JHVLICO fully met its obligations under your
contract. If a benefit becomes payable under the contract upon the death of an
owner or annuitant, JHFS guarantees the lesser of (a) the amount of your
contract value in any guarantee period on the date of death, increased by any
upward market value adjustment (but not decreased by any negative market value
adjustment) or (b) the total amount that the contract obligates JHVLICO to pay
by reason of such death. If JHVLICO fails to make payment when due of any amount
that is guaranteed by JHFS, you could directly request JHFS to satisfy JHVLICO's
obligation, and JHFS must do so. You would not have to make any other demands on
JHVLICO as a precondition to making a claim against JHFS under the guarantee.

ADDITIONAL INFORMATION

CONTENTS OF THIS SECTION STARTING ON PAGE

Description of JHVLICO. . . . . . . . . . . . . . . . . . . . . 22

How to find further information about JHVLICO and JHFS. . . . . 22

Who should purchase a contract. . . . . . . . . . . . . . . . . 23

How we support the variable investment options. . . . . . . . . 23

How we support the guarantee periods. . . . . . . . . . . . . . 24

How the guarantee periods work. . . . . . . . . . . . . . . . . 24

The accumulation period . . . . . . . . . . . . . . . . . . . . 26

The annuity period. . . . . . . . . . . . . . . . . . . . . . . 27

Variable investment option valuation procedures . . . . . . . . 29

Distribution requirements following death of owner. . . . . . . 30

Miscellaneous provisions. . . . . . . . . . . . . . . . . . . . 30

Tax information . . . . . . . . . . . . . . . . . . . . . . . . 31

Performance information . . . . . . . . . . . . . . . . . . . . 38

Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

Voting privileges . . . . . . . . . . . . . . . . . . . . . . . 39

Certain changes . . . . . . . . . . . . . . . . . . . . . . . . 39

Distribution of contracts . . . . . . . . . . . . . . . . . . . 40

Experts . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

Registration statement. . . . . . . . . . . . . . . . . . . . . 41

Condensed financial information . . . . . . . . . . . . . . . . 42

Appendix A - Details About Our Guarantee Periods. . . . . . . . 47

Appendix B - Examples of Withdrawal Charge Calculation. . . . . 50

DESCRIPTION OF JHVLICO

We are a wholly-owned subsidiary of John Hancock Life Insurance Company
("John Hancock"), a Massachusetts stock life insurance company. On February 1,
2000, John Hancock Mutual Life Insurance Company (which was chartered in
Massachusetts in 1862) converted to a stock company by "demutualizing" and
changed its name to John Hancock Life Insurance Company. As part of the
demutualization process, John Hancock became a subsidiary of John Hancock
Financial Services, Inc., a newly formed publicly-traded corporation. John
Hancock's home office is at John Hancock Place, Boston, Massachusetts 02117. As
of December 31, 2002, John Hancock's assets were approximately $88 billion and
it had invested approximately $575 million in JHVLICO in connection with
JHVLICO's organization and operation. It is anticipated that John Hancock will
from time to time make additional capital contributions to JHVLICO to enable us
to meet our reserve requirements and expenses in connection with our business.
John Hancock is committed to make additional capital contributions if necessary
to ensure that we maintain a positive net worth.

HOW TO FIND ADDITIONAL INFORMATION ABOUT JHVLICO AND JHFS

JHFS files numerous documents and reports with the SEC, under a law
commonly known as the "Exchange Act." This includes annual reports on Form 10-K,
quarterly reports on Form 10-Q, other reports on Form 8-K, and proxy statements.
JHVLICO and JHFS also file registration statements and other documents with the
SEC, in addition to any that they file under the Exchange Act.

These are the following reports and documents, which we "incorporate by
reference" into this prospectus:

. Form 10-K of JHFS for the year ended December 31, 2002;

. Form 10-Q of JHFS for the three month period ended March 31, 2003;

. Form 8-K of JHFS filed on January 9, 2003; and

WHO SHOULD PURCHASE A CONTRACT?

. traditional individual retirement annuity plans ("traditional IRAs")
satisfying the requirements of Section 408 of the Code;

. non-deductible IRA plans ("Roth IRAs") satisfying the requirements of
Section 408A of the Code;

. SIMPLE IRA plans adopted under Section 408(p) of the Code;

. Simplified Employee Pension plans ("SEPs") adopted under Section 408(k) of
the Code; and

. annuity purchase plans adopted under Section 403(b) of the Code by public
school systems and certain other tax-exempt organizations.

We do not currently offer the contracts to every type of tax-qualified
plan, and we may not offer the contracts for all types of tax-qualified plans in
the future. In certain circumstances, we may make the contracts available for
purchase under deferred compensation plans maintained by a state or political
subdivision or tax exempt organization under Section 457 of the Code or by
pension or profit-sharing plans qualified under section 401(a) of the Code. We
provide general federal income tax information for contracts purchased in
connection with tax qualified retirement plans beginning on page 33.

We may include certain requirements from the above sources in endorsements
or riders to the affected contracts. In other cases, we do not. In no event,
however, do we undertake to assure a contract's compliance with all plan, tax
law, and ERISA requirements applicable to a tax-qualified or non tax-qualified
retirement plan. Therefore, if you use or plan to use a contract in connection
with such a plan, you must consult with competent legal and tax advisers to
ensure that you know of (and comply with) all such requirements that apply in
your circumstances.

To accommodate "employer-related" pension and profit-sharing plans, we
provide "unisex" purchase rates. That means the annuity purchase rates are the
same for males and females. Any questions you have as to whether you are
participating in an "employer-related" pension or profit-sharing plan should be
directed to your employer. Any question you or your employer have about unisex
rates may be directed to the John Hancock Annuity Servicing Office.

HOW WE SUPPORT THE VARIABLE INVESTMENT OPTIONS

We hold the fund shares that support our variable investment options in
John Hancock Variable Annuity Account JF (the "Account"), a separate account
established by JHVLICO under Massachusetts law. The Account is registered as a
unit investment trust under the Investment Company Act of 1940 ("1940 Act").

The Account's assets, including the Series Funds' shares, belong to
JHVLICO. Each contract provides that amounts we hold in the Account pursuant to
the policies cannot be reached by any other persons who may have claims against
us.

All of JHVLICO's general assets also support JHVLICO's obligations under
the contracts, as well as all of its other obligations and liabilities. These
general assets consist of all JHVLICO's assets that are not held in the Account
(or in another separate account) under variable annuity or variable life
insurance contracts that give their owners a preferred claim on those assets.

HOW WE SUPPORT THE GUARANTEE PERIODS

HOW THE GUARANTEE PERIODS WORK

Amounts you allocate to the guarantee periods earn interest at a guaranteed
rate commencing with the date of allocation. At the expiration of the guarantee
period, we will automatically transfer its accumulated value to the Money Market
option under your contract, unless you elect to:

. withdraw all or a portion of any such amount from the contract,

. allocate all or a portion of such amount to a new guarantee period or
periods of the same or different duration as the expiring guarantee period,
or

. allocate all or a portion of such amount to one or more of the variable
investment options.

Guaranteed interest rates

Each guarantee period has its own guaranteed rate. We may, at our
discretion, change the guaranteed rate for future guarantee periods. These
changes will not affect the guaranteed rates being paid on guarantee periods
that have already commenced. Each time you allocate or transfer money to a
guarantee period, a new guarantee period, with a new interest rate, begins to
run with respect to that amount. The amount allocated or transferred earns a
guaranteed rate that will continue unchanged until the end of that period. We
will not make available any guarantee period offering a guaranteed rate below
3%.

------------------------------------------------
We make the final determination of guaranteed
rates and guarantee periods to be declared. We
cannot predict or assure the level of any
future guaranteed rates or the availability of
any future guaranteed periods.
------------------------------------------------

You may obtain information concerning the guaranteed rates applicable to
the various guarantee periods, and the durations of the guarantee periods
offered at any time by calling the John Hancock Annuity Servicing Office at the
telephone number on page 2.

Calculation of market value adjustment ("MVA")

. death benefits pursuant to your contract,

. amounts you apply to an annuity option, and

. amounts paid in a single sum in lieu of an annuity.

The market value adjustment increases or decreases your remaining value in
the guarantee period. If the value in that guarantee period is insufficient to
pay any negative MVA, we will deduct any excess from the value in your other
investment options pro-rata based on the value in each. If there is insufficient
value in your other investment options, we will in no event pay out more than
the surrender value of the contract.

Here is how the MVA works:

---------------------------------------------------------
We compare

. the guaranteed rate of the guarantee period from
which the assets are being taken WITH

. the guaranteed rate we are currently offering for
guarantee periods of the same duration as remains
on the guarantee period from which the assets are
being taken.

If the first rate exceeds the second by more than 1/2
%, the market value adjustment produces an increase in
your contract's value.

If the first rate does not exceed the second by at
least 1/2 %, the market value adjustment produces a
decrease in your contract's value.
---------------------------------------------------------

For this purpose, we consider that the amount withdrawn from the guarantee
period includes the amount of any negative MVA and is reduced by the amount of
any positive MVA.

The mathematical formula and sample calculations for the market value
adjustment appear in Appendix A.

THE ACCUMULATION PERIOD

Your value in our variable investment options

Each premium payment or transfer that you allocate to a variable investment
option purchases accumulation units of that variable investment option.
Similarly, each withdrawal or transfer that you take from a variable investment
option (as well as certain charges that may be allocated to that option) result
in a cancellation of such accumulation units.

Valuation of accumulation units

To determine the number of accumulation units that a specific transaction
will purchase or cancel, we use the following formula:

Therefore, at any time prior to the date of maturity, the total value of
your contract in a variable investment option can be computed according to the
following formula:

-----------------------------------------------
number of accumulation units in the variable
investment options
TIMES
value of one accumulation unit for the
applicable variable investment option at that
time
-----------------------------------------------

Your value in the guarantee periods

On any date, the total value of your contract in a guarantee period equals:

. the amount of premium payments or transferred amounts allocated to the
guarantee period, MINUS

. the amount of any withdrawals or transfers paid out of the guarantee period,
MINUS

. the amount of any negative market value adjustments resulting from such
withdrawals or transfers, PLUS

. the amount of any positive market value adjustments resulting from such
withdrawals and transfers, MINUS

. the amount of any charges and fees deducted from that guarantee period, PLUS

. interest compounded daily on any amounts in the guarantee period from time
to time at the effective annual rate of interest we have declared for that
guarantee period.

THE ANNUITY PERIOD

Date of maturity

. at least 6 months after the date the first premium payment is applied to
your contract and

. no later than the maximum age specified in your contract (normally age 95).

Choosing fixed or variable annuity payments

During the annuity period, the total value of your contract must be
allocated to no more than four investment options. During the annuity period, we
do not offer the guarantee periods. Instead, we offer annuity payments on a
fixed basis as one investment option, and annuity payments on a variable basis
for EACH variable investment option.

We will generally apply (1) amounts allocated to the guarantee periods as
of the date of maturity to provide annuity payments on a fixed basis and (2)
amounts allocated to variable investment options to provide annuity payments on
a variable basis. If you are using more than four investment options on the date
of maturity, we will divide your contract's value among the four investment
options with the largest values (directing all guarantee periods as a single
option), pro-rata based on the amount of the total value of your contract that
you have in each.

Once annuity payments begin, you may not make transfers from fixed to
variable or from variable to fixed.

Selecting an annuity option

Each contract provides, at the time of its issuance, for annuity payments
to commence on the date of maturity pursuant to Option A: "life annuity with 10
years guaranteed" (discussed under "Annuity options" on page 28).

If the initial monthly payment under an annuity option would be less than
$50, we may make a single sum payment equal to the total surrender value of your
contract on the date the initial payment would be payable. Such single payment
would replace all other benefits.

Subject to that $50 minimum limitation, your beneficiary may elect an
annuity option if:

. you have not made an election prior to the annuitant's death;

. the beneficiary is entitled to payment of a death benefit of at least $5,000
in a single sum; and

. the beneficiary notifies us of the election prior to the date the proceeds
become payable.

Variable monthly annuity payments

The amount of each subsequent variable annuity payment under that variable
investment option depends upon the investment performance of that variable
investment option.

Here's how it works:

. we calculate the actual net investment return of the variable investment
option (after deducting all charges) during the period between the dates for
determining the current and immediately previous monthly payments.

. if that actual net investment return exceeds the "assumed investment rate"
(explained below), the current monthly payment will be larger than the
previous one.

. if the actual net investment return is less than the assumed investment
rate, the current monthly payment will be smaller than the previous one.

Assumed investment rate: The assumed investment rate for any variable
portion of your annuity payments will be 3 1/2 % per year, except as follows.

You may elect an assumed investment rate of 5% or 6%, provided such a rate
is available in your state. If you elect a higher assumed investment rate, your
initial variable annuity payment will also be higher. Eventually, however, the
monthly variable annuity payments may be smaller than if you had elected a lower
assumed investment rate.

Fixed monthly annuity payments

The dollar amount of each fixed monthly annuity payment is specified during
the entire period of annuity payments, according to the provisions of the
annuity option selected. To determine such dollar amount we first, in accordance
with the procedures described above, calculate the amount to be applied to the
fixed annuity option as of the date of maturity. We then subtract any applicable
premium tax charge and divide the difference by $1,000.

We then multiply the result by the greater of:

. the applicable fixed annuity purchase rate shown in the appropriate table
in the contract; or

. the rate we currently offer at the time of annuitization. (This current rate
may be based on the sex of the annuitant, unless prohibited by law.)

Annuity options

Here are some of the annuity options that are available, subject to the
terms and conditions described above. We reserve the right to make available
optional methods of payment in addition to those annuity options listed here and
in your contract.

OPTION B: LIFE ANNUITY WITHOUT FURTHER PAYMENT ON DEATH OF PAYEE: - We will
make monthly payments to the payee as long as he or she lives. We guarantee no
minimum number of payments.

OPTION D: JOINT AND 1/2 SURVIVOR; OR JOINT AND 2/3 SURVIVOR - We will
provide payments monthly, quarterly, semiannually, and annually for the payee's
life and the life of the payee's spouse/joint payee. Upon the death of one
payee, we will continue payments (reduced to 1/2 or 2/3 the full payment amount)
to the surviving payee. All payments stop at the death of the surviving payee.

If the payee is more than 85 years old on the date of maturity, the
following two options are not available:

. Option A: "life annuity with 5 years guaranteed" and

. Option B: "life annuity without further payment on the death of payee."

VARIABLE INVESTMENT OPTION VALUATION PROCEDURES

DISTRIBUTION REQUIREMENTS FOLLOWING DEATH OF OWNER

In most cases, these provisions do not cause a problem if you are also the
annuitant under your policy. If you have designated someone other than yourself
as the annuitant, however, your heirs will have less discretion than you would
have had in determining when and how the contract's value would be paid out.

------------------------------------------------------------------------
IF YOU DIE BEFORE ANNUITY PAYMENTS HAVE BEGUN:
. if the contract's designated beneficiary is your surviving spouse,
your spouse may continue the contract in force as the owner.
. if the beneficiary is not your surviving spouse OR if the
beneficiary is your surviving spouse but chooses not to continue the
contract, the "entire interest" (as discussed below) in the contract
on the date of your death must be:
(1) paid out in full within five years of your death or
(2) applied in full towards the purchase of a life annuity on the
beneficiary with payments commencing within one year of your
death.
If you are the last surviving annuitant, as well as the owner, the
entire interest in the contract on the date of your death equals the
death benefit that then becomes payable. If you are the owner but not
the last surviving annuitant, the entire interest equals:
. the surrender value if paid out in full within five years of your
death, or
. the total value of your contract applied in full towards the
purchase of a life annuity on the beneficiary with payments
commencing within one year of your death.
IF YOU DIE ON OR AFTER ANNUITY PAYMENTS HAVE BEGUN:
. any remaining amount that we owe must be paid out at least as
rapidly as under the method of making annuity payments that is then
in use.
------------------------------------------------------------------------

Notice of the death of an owner or annuitant should be furnished promptly to the
John Hancock Annuity Servicing Office.

MISCELLANEOUS PROVISIONS

Assignment; change of owner or beneficiary

. the rights of any assignees of record and

. certain other conditions referenced in the contract.

An assignment, pledge, or other transfer may be a taxable event. See "Tax
information" below. Therefore, you should consult a competent tax adviser before
taking any such action.

TAX INFORMATION

Our income taxes

We are taxed as a life insurance company under the Internal Revenue Code
(the "Code"). The Account is taxed as part of our operations and is not taxed
separately.

Special Considerations for Optional Benefit Riders

If you have elected an optional death benefit rider, it is our
understanding that the charges relating to these riders are not subject to
current taxation. The Internal Revenue Service ("IRS") might take the position,
however, that each charge associated with the rider is deemed a partial
withdrawal from the contract subject to current income tax to the extent of any
gains and, if applicable, the 10% penalty tax for premature distributions from
annuities. We understand that you are not prevented from adding any of our
optional death benefit riders to your contract if it is issued as an IRA.
However, the law is unclear because IRAs generally may not invest in "life
insurance contracts." Therefore, it is possible that a Contract may be
disqualified as an IRA if it has an optional death benefit rider added to it. If
so, you may be subject to increased taxes.

At present, the IRS has not provided guidance as to the tax effect of
adding an optional nursing home waiver of withdrawal charge rider to an annuity
contract. The IRS might take the position that each charge associated with these
riders is deemed a withdrawal from the contract subject to current income tax to
the extent of any gains and, if applicable, the 10% penalty tax for premature
withdrawals.

We do not currently report rider charges as partial withdrawals, but we may
do so in the future if we believe that the IRS would require us to report them
as such. You should consult a competent tax adviser before electing any of these
optional benefit riders.

Contracts not purchased to fund a tax qualified plan

Undistributed gains

We believe the contracts will be considered annuity contracts under Section
72 of the Code. This means that, ordinarily, you pay no federal income tax on
any gains in your contract until we actually distribute assets to you.

However, a contract owned other than by a natural person (e.g.,
corporations, partnerships, limited liability companies and other such entities)
does not generally qualify as an annuity for tax purposes. Any increase in value
therefore would constitute ordinary taxable income to such an owner in the year
earned.

Annuity payments

When we make payments under a contract in the form of an annuity, each
payment will result in taxable ordinary income to you, to the extent that each
such payment exceeds an allocable portion of your "investment in the contract"
(as defined in the Code). In general, your "investment in the contract" equals
the aggregate amount of premium payments you have made over the life of the
contract, reduced by any amounts previously distributed from the contract that
were not subject to tax.

The Code prescribes the allocable portion of each such annuity payment to
be excluded from income according to one formula if the payments are variable
and a somewhat different formula if the payments are fixed. In each case,
speaking generally, the formula seeks to allocate an appropriate amount of the
investment in the contract to each payment. After the entire "investment in the
contract" has been distributed, any remaining payment is fully taxable.

Surrenders, withdrawals and death benefits

When we make a single sum payment from a contract, you have ordinary
taxable income, to the extent the payment exceeds your "investment in the
contract" (discussed above). Such a single sum payment can occur, for example,
if you surrender your contract before the date of maturity or if no annuity
payment option is selected for a death benefit payment.

Penalty for premature withdrawals

Puerto Rico annuity contracts not purchased to fund a tax qualified plan

Under the Puerto Rico tax laws, distributions from a contract not purchased
to fund a tax qualified plan ("Non-Qualified Contract") before annuitization are
treated as non-taxable return of principal until the principal is fully
recovered. Thereafter, all distributions are fully taxable. Distributions after
annuitization are treated as part taxable income and part non-taxable return of
principal. The amount excluded from gross income after annuitization is equal to
the amount of the distribution in excess of 3% of the total purchase payments
paid, until an amount equal to the total purchase payments paid has been
excluded. Thereafter, the entire distribution from a Non-Qualified Contract is
included in gross income. Puerto Rico does not currently impose an early
withdrawal penalty tax. Generally, Puerto Rico does not require income tax to be
withheld from distributions of income.

Diversification requirements

Contracts purchased for a tax qualified plan

We have no responsibility for determining whether a particular retirement
plan or a particular contribution to the plan satisfies the applicable
requirements of the Code, or whether a particular employee is eligible for
inclusion under a plan. In general, the Code imposes limitations on the amount
of annual compensation that can be contributed into a tax-qualified plan, and
contains rules to limit the amount you can contribute to all of your
tax-qualified plans. Trustees and administrators of tax qualified plans may,
however, generally invest and reinvest existing plan assets without regard to
such Code imposed limitations on contributions. Certain distributions from tax
qualified plans may be transferred directly to another plan, unless funds are
added from other sources, without regard to such limitations.

Tax-free rollovers

For tax years beginning in 2002, if permitted under your plans, you may
make a tax-free rollover from:

. a traditional IRA to another traditional IRA,

. a traditional IRA to another tax-qualified plan, including a Section 403(b)
plan

. any tax-qualified plan (other than a Section 457 deferred compensation plan
maintained by a tax-exempt organization) to a traditional IRA,

. any tax-qualified plan (other than a Section 457 deferred compensation plan
maintained by a tax exempt organization) to another tax-qualified plan,
including a roll-over of amounts from your prior plan derived from your
"after-tax" contributions from "involuntary" distributions,

. a Section 457 deferred compensation plan maintained by a tax-exempt
organization to another Section 457 deferred compensation plan maintained by
a tax-exempt organization and

. a traditional IRA to a Roth IRA, subject to special restrictions discussed
below.

In addition, if your spouse survives you, he or she is permitted to
rollover your tax-qualified retirement account to another tax-qualified
retirement account in which your surviving spouse participates, to the extent
permitted by your surviving spouse' plan.

Traditional IRAs

. 100% of compensation includable in your gross income, or

. the IRA annual limit for that tax year. For tax years beginning in 2002, 2003
and 2004, the annual limit is $3,000 per year. For tax years beginning in
2005, 2006 and 2007, the annual limit is $4,000 per year and, for the tax
year beginning in 2008, the annual limit is $5,000. After that, the annual
limit is indexed for inflation in $500 increments as provided in the Code.

Deductibility of contributions. You may be entitled to a full deduction, a
partial deduction or no deduction for your traditional IRA contribution on your
federal income tax return.

The amount of your deduction is based on the following factors:

. whether you or your spouse is an active participant in an employer sponsored
retirement plan,

. your federal income tax filing status, and

. your "Modified Adjusted Gross Income."

Your traditional IRA deduction is subject to phase out limits, based on
your Modified Adjusted Gross Income, which are applicable according to your
filing status and whether you or your spouse are active participants in an
employer sponsored retirement plan. You can still contribute to a traditional
IRA even if your contributions are not deductible.

The tax law requires that annuity payments under a traditional IRA contract
begin no later than April 1 of the year following the year in which the owner
attains age 70 1/2.

Roth IRAs

Distributions. If you hold your Roth IRA for at least five years the payee
will not owe any federal income taxes or early withdrawal penalties on amounts
paid out from the contract:

. after you reach age 59 1/2,

. on your death or disability, or

. to qualified first-time home buyers (not to exceed a lifetime limitation of
$10,000) as specified in the Code.