ANNUITY SERVICE OFFICE MAILING ADDRESS
601 Congress Street Post Office Box 55106
Boston, Massachusetts 02210-2805 Boston, Massachusetts 02205-5106
(617) 663-3000 or (800) 824-0335

Prospectus dated May 2, 2005
for interests in
John Hancock Variable Annuity Account JF

Interests are made available under

REVOLUTION ACCESS VARIABLE ANNUITY

a deferred combination fixed and variable annuity contract issued by
JOHN HANCOCK VARIABLE LIFE INSURANCE COMPANY

This 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:

Health Sciences
Small Cap Growth
Small Cap Index*
Mid Cap Stock
Financial Services
International Equity Index B
Overseas Equity
Mid Cap Index
Large Cap Growth
Total Stock Market Index
Blue Chip Growth
Real Estate Securities
Small Cap Value
Mid Value
Growth & Income II
500 Index B
Equity-Income
Managed
High Yield
Global Bond
Total Return
Bond Index B
Active Bond
Short-Term Bond
Money Market B

* Not available for contracts issued after April 30, 2003

CONTRACTS ARE NOT DEPOSITS OR OBLIGATIONS OF, OR INSURED, GUARANTEED OR ENDORSED
BY ANY BANK, THE FEDERAL DEPOSIT INSURANCE CORPORATION, THE FEDERAL RESERVE
BOARD, OR ANY OTHER AGENCY. PLEASE READ THIS PROSPECTUS CAREFULLY AND KEEP IT
FOR FUTURE REFERENCE. IT CONTAINS INFORMATION THAT THE CONTRACT OWNER ("YOU")
SHOULD KNOW BEFORE INVESTING. PLEASE NOTE THAT THE SECURITIES AND EXCHANGE
COMMISSION ("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.

Additional information about the contract and the Account is contained in a
Statement of Additional Information, dated the same date as this Prospectus,
which has been filed with the SEC and is incorporated herein by reference. The
Statement of Additional Information is available without charge upon request by
writing us at the above address or by telephoning (800) 344-1029. The SEC
maintains a Web site (http://www.sec.gov) that contains the Statement of
Additional Information and other information about us, the contracts and the
Account. We list the Table of Contents of the Statement of Additional
Information on page 3.

In this Prospectus, we refer to John Hancock Variable Life Insurance Company as
"JHVLICO," "WE," "US," "OUR," or "THE COMPANY." In addition, John Hancock
Variable Annuity Account JF is referred to as the "Account".

TABLE OF CONTENTS

GUIDE TO THIS PROSPECTUS.................................. 3
FEE TABLES................................................ 4
EXAMPLES................................................ 6
BASIC INFORMATION......................................... 7
WHAT IS THE CONTRACT?................................... 7
WHO OWNS THE CONTRACT?.................................. 7
Is the Owner also the Annuitant?...................... 7
HOW CAN I INVEST MONEY IN A CONTRACT?................... 7
Premium Payments...................................... 7
Allocation of Premium Payments........................ 7
Limits on Premium Payments............................ 8
Ways to Make Premium Payments......................... 8
Premium Payments by Wire.............................. 8
WHAT ANNUITY BENEFITS DOES THE CONTRACT PROVIDE?........ 9
TO WHAT EXTENT CAN JHVLICO VARY THE TERMS AND
CONDITIONS OF ITS CONTRACTS?............................ 9
State Law Insurance Requirements...................... 9
Variations in Charges or Rates........................ 9
WHAT ARE THE TAX CONSEQUENCES OF OWNING A CONTRACT?..... 9
HOW CAN I CHANGE MY CONTRACT'S INVESTMENT ALLOCATIONS?.. 10
Transfers Among Investment Options.................... 10
Procedure for Transferring Your Assets................ 11
Telephone and Facsimile Transactions.................. 11
Dollar-Cost Averaging Program......................... 12
Strategic Rebalancing................................. 12
WHAT FEES AND CHARGES WILL BE DEDUCTED FROM MY
CONTRACT?............................................... 12
Asset-Based Charge.................................... 12
Annual Contract Fee................................... 12
Premium Taxes......................................... 12
Other Charges......................................... 13
HOW CAN I WITHDRAW MONEY FROM MY CONTRACT?.............. 13
Surrenders and Partial Withdrawals.................... 13
Systematic Withdrawal Plan............................ 13
Telephone Withdrawals................................. 13
WHAT HAPPENS IF THE OWNER OR THE ANNUITANT DIES BEFORE
MY CONTRACT'S DATE OF MATURITY?......................... 14
Standard Death Benefit................................ 14
OPTIONAL DEATH BENEFITS................................. 14
Enhanced Death Benefit................................ 15
WHAT OTHER OPTIONS CAN I PURCHASE UNDER A CONTRACT?..... 16
Accumulated Value Enhancement......................... 16
CAN I RETURN MY CONTRACT?............................... 17
WHAT ADDITIONAL GUARANTEE APPLIES TO THE GUARANTEE
PERIODS UNDER MY CONTRACT?.............................. 17
WHAT ARE THE TERMS OF THE ADDITIONAL GUARANTEE?......... 18
DESCRIPTION OF JHVLICO.................................... 18
HOW TO FIND ADDITIONAL INFORMATION ABOUT JHVLICO AND
JHFS...................................................... 18
HOW WE SUPPORT THE VARIABLE INVESTMENT OPTIONS............ 19
Information about the funds........................... 19
DESCRIPTION OF CHARGES AT THE FUND LEVEL.................. 22
HOW WE SUPPORT THE GUARANTEE PERIODS...................... 22
HOW THE GUARANTEE PERIODS WORK............................ 22
Guaranteed Interest Rates............................. 23
Calculation of Market Value Adjustment ("MVA")........ 23
THE ACCUMULATION PERIOD................................... 23
Your Value in Our Variable Investment Options......... 23
Valuation of Accumulation Units....................... 23
Your Value in the Guarantee Periods................... 24
THE ANNUITY PERIOD........................................ 24
Date of Maturity...................................... 24
Choosing Fixed or Variable Annuity Payments........... 24
Selecting an Annuity Option........................... 25
Variable Monthly Annuity Payments..................... 25
Transfers during the annuity period................... 25
Assumed Investment Rate............................... 25
Fixed Monthly Annuity Payments........................ 25
Annuity Options....................................... 26
VARIABLE INVESTMENT OPTION VALUATION PROCEDURES........... 26
DISTRIBUTIONS FOLLOWING DEATH OF OWNER.................... 26
MISCELLANEOUS PROVISIONS.................................. 27
Assignment; Change of Owner or Beneficiary............ 27
WHO SHOULD PURCHASE A CONTRACT?......................... 28
TAX INFORMATION........................................... 28
Our Income Taxes...................................... 28
Special Considerations for Optional Benefit Riders.... 28
Contracts Not Purchased to Fund a Tax Qualified Plan.. 29
Undistributed Gains................................... 29
Annuity Payments...................................... 29
Surrenders, Withdrawals and Death Benefits............ 29
Penalty for Premature Withdrawals..................... 29
Special Considerations for Puerto Rico Annuity
Contracts............................................. 29
Diversification Requirements.......................... 30
Contracts Purchased for a Tax Qualified Plan.......... 30
Tax-Free Rollovers.................................... 30
Traditional IRAs...................................... 31
Roth IRAs............................................. 31
SIMPLE IRA Plans...................................... 32
Simplified Employee Pension Plans (SEPs).............. 32
Section 403(b)plans................................... 32
Pension and Profit Sharing Plans Qualified Under
Section 401(a)........................................ 33
"Top-Heavy" Plans..................................... 33
Section 457 Deferred Compensation Plans............... 33
Elective Deferral Limits.............................. 34
Elective Catch-Up Limits.............................. 34
Withholding on Rollover Distributions................. 34

Puerto Rico Annuity Contracts Purchased to Fund a
Tax-Qualified Plan.................................. 34
See Your Own Tax Adviser.............................. 34
PERFORMANCE INFORMATION................................... 34
REPORTS................................................... 35
VOTING PRIVILEGES......................................... 35
CERTAIN CHANGES........................................... 35
Changes to the Account................................ 35
Variations in Charges or Rates for Eligible Classes... 35
DISTRIBUTION OF CONTRACTS................................. 36
EXPERTS................................................... 36
APPENDIX A: INDEX OF KEY WORDS............................ 37
APPENDIX B: DETAILS ABOUT OUR GUARANTEE PERIODS........... 38
APPENDIX C: EXAMPLES OF EARNINGS ENHANCEMENT.............. 40
APPENDIX U: ACCUMULATION UNIT VALUE TABLES................ 42

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........................................... 3
CALCULATION OF ANNUITY PAYMENTS......................................... 4
ADDITIONAL INFORMATION ABOUT DETERMINING
UNIT VALUES............................................................. 5
PURCHASES AND REDEMPTIONS OF FUND SHARES................................ 6
THE ACCOUNT............................................................. 6
DELAY OF CERTAIN PAYMENTS............................................... 7
LIABILITY FOR TELEPHONE TRANSFERS....................................... 7
VOTING PRIVILEGES....................................................... 7
FINANCIAL STATEMENTS.................................................... 9

GUIDE TO THIS PROSPECTUS

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.

This prospectus contains information that you should know before you buy a
contract or exercise any of your rights under the contract.

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 NAV shares of a corresponding portfolio of the John Hancock Trust (the
"Series Fund"). In this prospectus, the portfolios of the Series Fund may also
be referred to as Funds.

The Series Fund is a so-called "series" type mutual fund registered with the
"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. The
Series Fund prospectus contains detailed information about each available fund.
Be sure to read that prospectus 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."

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.

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.

CONTRACTOWNER TRANSACTION EXPENSES REVOLUTION ACCESS
- ---------------------------------- -----------------

Maximum transfer charge (1) $25

(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.

REVOLUTION ACCESS

Maximum Annual Contract Fee (2) $ 50

Current Annual Contract Fee (3) $ 30

Separate Account Annual Expenses (as a percentage
of average account value) (4) 1.25%

OPTIONAL BENEFIT RIDER CHARGES (5)

Enhanced Death Benefit Rider (6) 0.25% of your contract's total value

Earnings Enhancement ("Beneficiary Tax Relief")
Death Benefit Rider 0.25% of your contract's total value

Accumulated Value Enhancement 0.40% of your initial premium payment
("CARESolutions Plus") Rider (7)

Guaranteed Retirement Income Benefit Rider (8) 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 may be lower than the amount shown.

(7) 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.

(8) This rider is not available for contracts issued after April 30, 2004.

THE NEXT TABLE DESCRIBES THE MINIMUM AND MAXIMUM TOTAL OPERATING EXPENSES
CHARGED BY THE PORTFOLIOS THAT YOU MAY PAY PERIODICALLY DURING THE TIME THAT YOU
OWN THE CONTRACT. MORE DETAIL CONCERNING EACH PORTFOLIO'S FEES AND EXPENSES IS
CONTAINED IN THE PORTFOLIO'S PROSPECTUS.

TOTAL ANNUAL PORTFOLIO OPERATING EXPENSES MINIMUM MAXIMUM
- ----------------------------------------- ------- -------

Range of expenses that are deducted from fund assets, including 0.50% 1.16%
management fees, , and other expenses

THE FOLLOWING TABLE DESCRIBES THE OPERATING EXPENSES FOR EACH OF THE PORTFOLIOS,
AS A PERCENTAGE OF THE PORTFOLIO'S AVERAGE NET ASSETS FOR THE FISCAL YEAR ENDING
DECEMBER 31, 2004. MORE DETAIL CONCERNING EACH PORTFOLIO'S FEES AND EXPENSES IS
CONTAINED IN THE PORTFOLIO'S PROSPECTUS AND IN THE NOTES FOLLOWING THE TABLE.

ALL OF THE PORTFOLIOS SHOWN IN THE TABLE ARE NAV CLASS SHARES THAT ARE NOT
SUBJECT TO RULE 12B-1 FEES THESE NAV CLASS SHARES COMMENCED OPERATIONS ON APRIL
29, 2005. THESE NAV CLASS SHARES OF A PORTFOLIO ARE BASED UPON THE EXPENSE
RATIOS OF THE PORTFOLIO'S SERIES I SHARES FOR THE YEAR ENDED DECEMBER 31, 2004
(ADJUSTED TO REFLECT THE ABSENCE OF ANY RULE 12B-1 FEE APPLICABLE TO THE NAV
SHARES).

TOTAL
MANAGEMENT OTHER ANNUAL
PORTFOLIO FEES EXPENSES EXPENSES
- --------- ---- -------- --------

JOHN HANCOCK TRUST - NAV SHARES

Health Sciences Trust 1.05%(B) 0.11% 1.16%
Small Cap Growth Trust(A) 1.08% 0.07% 1.15%
Small Cap Index Trust 0.49% 0.03% 0.52%

TOTAL
MANAGEMENT OTHER ANNUAL
PORTFOLIO FEES EXPENSES EXPENSES
- --------- ---- -------- --------

Mid Cap Stock Trust 0.86% 0.05% 0.91%
Financial Services Trust 0.88%(C) 0.08% 0.96%
International Equity Index Trust B(A + D) 0.55% 0.04% 0.59%
Overseas Equity Trust(A) 1.05% 0.09% 1.14%
Mid Cap Index Trust 0.49% 0.03% 0.52%
Large Cap Growth Trust 0.85% 0.06% 0.91%
Total Stock Market Index Trust 0.49% 0.03% 0.52%
Blue Chip Growth Trust 0.82%B 0.04% 0.86%
Real Estate Securities Trust 0.70% 0.05% 0.75%
Small Cap Value Trust(A) 1.08% 0.08% 1.16%
Mid Value Trust (A +) 1.01%(B) 0.07% 1.08%
Growth & Income II Trust(A +) 0.68% 0.03% 0.71%
500 Index Trust B(A + D) 0.47% 0.03% 0.50%
Equity-Income Trust 0.81%B 0.05% 0.86%
Managed Trust (A +) 0.73% 0.04% 0.77%
High Yield Trust 0.68% 0.07% 0.75%
Global Bond Trust 0.70% 0.10% 0.80%
Total Return Trust 0.70% 0.05% 0.75%
Bond Index Trust B (A + D) 0.47% 0.03% 0.50%
Active Bond Trust (A +) 0.61% 0.04% 0.65%
Short-Term Bond Trust (A + D) 0.58% 0.05% 0.63%
Money Market Trust B (A +) 0.49% 0.04% 0.53%

+ Commencement of operations -- April 29, 2005

(A) Based on estimates for the current fiscal year

(B) The Adviser has voluntarily agreed to waive a portion of its advisory fee
for the Science & Technology Trust, Health Sciences Trust, the Blue Chip Growth
Trust the Equity-Income Trust , the Mid Value Trust, and the Small Company Value
Trust. The waiver is based on the combined assets of these portfolios. Once
these combined assets exceed specified amounts, the fee reduction is increased.

The fee reductions are applied to the advisory fees of each of the portfolios.
This voluntary fee waiver may be terminated at any time by the Adviser. If such
advisory fee waiver were reflected, it is estimated that the "Management Fees"
and "Total Annual Expenses" for these portfolios would have been as follows:

TOTAL
MANAGEMENT ANNUAL
PORTFOLIO FEES EXPENSES
- --------- ---- --------

Health Sciences Trust 1.02% 1.13%
Blue Chip Growth Trust 0.79% 0.83%
Equity-Income Trust 0.78% 0.88%
Mid Value Trust 0.98% 1.30%

(C) Financial Services Trust. The Adviser has voluntarily agreed to reduce its
advisory fee for the Financial Services Trust to the amounts shown below. These
advisory fee waivers may be terminated at any time.

BETWEEN $50
FIRST $50 MILLION AND EXCESS OVER
PORTFOLIO MILLION* $500 MILLION* $500 MILLION*
- --------- -------- ------------- -------------

Financial Services Trust 0.85% 0.80% 0.75%

*as a percentage of average annual net assets.

If such advisory fee waiver were reflected, it is estimated that the advisory
fees ("Management Fees") and "Total Annual Expenses" would have been as follows:

MANAGEMENT TOTAL ANNUAL
PORTFOLIO FEES EXPENSES
- --------- ---- --------

Financial Services Trust 0.83% 0.91%

(D) The Series Fund sells these portfolios only to certain variable life
insurance and variable annuity separate accounts of JHLICO and its affiliates.
Each portfolio is subject to an expense cap pursuant to an agreement between the
Series Fund and the Advisor. The fees in the table reflect such expense cap. The
expense cap is as follows: the Adviser has agreed to waive its advisory fee (or,
if necessary, reimburse expenses of the portfolio) in an amount so that the rate
of the portfolio's "Annual Operating Expenses" does not exceed the rate noted in
the table above under "Total Annual Expenses." A portfolio's annual operating
Expenses including advisory fees, but excludes, taxes, brokerage commissions,
interest, litigation and indemnification expenses and extraordinary expenses of
the portfolio not incurred in the ordinary course of the portfolio's business.
Under the Agreement, the Adviser's obligation to provide the expense cap with
respect to a particular portfolio terminates only if the Series Fund, without
the prior written consent of the Adviser, sells shares of the portfolio to (or
has shares of the portfolio held by) any person other than the variable life or
variable annuity insurance separate accounts of JHLICO or any of its affiliates
that are specified in the agreement.

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
contract 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
------ ------- ------- --------

If you surrender the contract at the end of the $366 $1,113 $1,877 $3,873
applicable time period:

If you annuitize, or do not surrender the contract $366 $1,113 $1,877 $3,873
at the end of the applicable time period:

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

If you surrender the contract at the end of the $180 $557 $959 $2,083
applicable time period:

If you annuitize, or do not surrender the contract $180 $557 $959 $2,083
at the end of the applicable time period

BASIC INFORMATION

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 minumums 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.

ALLOCATION OF PREMIUM PAYMENTS

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 Service 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
will not issue a contract if any proposed owner or annuitant is older than age
84. We may also limit your ability to purchase multiple contracts on the same
annuitants or owners. We may, however, waive either of these underwriting
limits.

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.

LIMITS ON PREMIUM PAYMENTS

You can make premium payments of up to $1,000,000 in any one contract year. 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.

The total of all new premium payments and transfers that you may 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
IF YOUR CONTRACT IS USED TO FUND AFTER THE ANNUITANT REACHES AGE
- -------------------------------- -------------------------------

a "tax qualified plan" (1) 70 1/2 (2)

a non-tax qualified plan 85

(1) as that term is used in "Tax Information," beginning on page 32.

(2) except for a Roth IRA, which has no age 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" and sent to the Annuity Service
Center.

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

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 Service
Office.

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.

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.

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 26.

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, rates 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?

TRANSFERS AMONG INVESTMENT OPTIONS

During the accumulation period, you may transfer amounts held in one investment
option to any other investment option, up to the above-mentioned maximum of 18
investment options and subject to the restrictions set forth below. During the
annuity period, you may make transfers to or from variable investment options
that will result in no more than 4 investment options being used at once, up to
the above-mentioned maximum of 18 variable investment options. You may not make
any transfers during the annuity period, however, to or from a fixed annuity
payment option.

To make a transfer, you must tell us how much to transfer, either as a whole
number percentage or as a specific dollar amount. A confirmation of each
transfer will be sent to you. Without our approval, the maximum amount you may
transfer to or from any one variable investment option or guarantee period in
any contract year is $1,000,000 .

Currently, we do not impose a charge for transfer requests. The first twelve
transfers in a contract year are free of any transfer charge. For each
additional transfer in a contract year, we do not currently assess a charge but
reserve the right (to the extent permitted by your contract) to impose a charge
of up to $25 for any transfer beyond the annual limit (transfers out of a
guarantee period may, however, incur a market value adjustment - either positive
or negative) verify this term for Revolution Value II.

We have adopted a policy and procedures to restrict frequent transfers of
contract value among variable investment options.

Investment options in variable annuity and variable life insurance products can
be a prime target for abusive transfer activity because these products value
their investment options on a daily basis and allow transfers among investment
options without immediate tax consequences. As a result, some investors may seek
to frequently transfer into and out of Funds underlying investment options in
reaction to market news or to exploit some perceived pricing inefficiency.
Whatever the reason, long-term investors in a Fund can be harmed by frequent
transfer activity since such activity may expose a Fund to increased portfolio
transaction costs (affecting the value of the shares) and disruption to
management of a Fund (affecting a subadviser's ability to effectively manage a
Fund's investment portfolio in accordance with the Fund's investment objective
and policies), both of which may result in dilution with respect to interests
held for long-term investment.

To discourage disruptive frequent trading activity, we have adopted a policy for
the Account to restrict transfers to two per month per contract, with certain
exceptions, and procedures to count the number of transfers made under a
contract. Under the current procedures of the Account, we count all transfers
made during the period from the opening of trading each day the net asset value
of the shares of a Fund are determined (usually 9 a.m.) to the close of trading
that day (the close of day-time trading of the New York Stock Exchange (usually
4 p.m.) as a SINGLE transfer. We do NOT count: (a) scheduled transfers made
pursuant to our Dollar Cost Averaging program or our Strategic Rebalancing
Program, (b) transfers from a fixed account option at the end of its guarantee
period,

(c) transfers made within a prescribed period before and after a substitution of
underlying Funds and (d) transfers made during the annuity period (these
transfers are subject to a 30 day notice requirement, however, as described in
the "Transfers during the annuity period" section of this Prospectus). Under the
Account's policy and procedures, Contract owners may transfer to a Money Market
investment option even if the two transfer per month limit has been reached if
100% of the contract value is transferred to that Money Market investment
option. If such a transfer to a Money Market investment option is made, for a 30
calendar day period after such transfer, no subsequent transfers from that Money
Market investment option to another variable investment option may be made. We
apply the Account's policy and procedures uniformly to all contract owners.

We reserve the right to take other actions at any time to restrict trading,
including, but not limited to:

- restricting the number of transfers made during a defined period,

- restricting the dollar amount of transfers,

- restricting the method used to submit transfers (e.g., changing
telephone and facsimile procedures to require that transfer requests
be submitted in writing via U.S. mail), and

- restricting transfers into and out of certain subaccounts.

In addition, we reserve the right to defer a transfer at any time we are unable
to purchase or redeem shares of the Funds. We also reserve the right to modify
or terminate the transfer privilege at any time (to the extent permitted by
applicable law), and to prohibit a transfer less than 30 days prior to the
contract's date of maturity.

Contract owners should note that while we seek to identify and prevent
disruptive frequent trading activity, it is not always possible to do so.
Therefore, no assurance can be given that we will successfully impose
restrictions on all disruptive frequent trading activity. If we are unsuccessful
in restricting disruptive frequent trading activity, the Funds may incur higher
brokerage costs and may maintain higher cash levels, limiting their ability to
achieve their investment objective.

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 Service Office at the one of the locations shown on the
cover. Your request should include:

- 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 AND FACSIMILE TRANSACTIONS

If you complete a special authorization form, you can request transfers among
investment options and changes of allocation among investment options simply by
telephoning or by faxing us at the John Hancock Annuity Servicing Office. Any
fax request should include your name, daytime telephone number, contract number
and, in the case of transfers and changes of allocation, the names of the
investment options involved. We will honor telephone instructions from anyone
who provides the correct identifying information, so there is a risk of loss to
you if this service is used by an unauthorized person. However, you will receive
written confirmation of all telephone transactions. There is also a risk that
you will be unable to place your request due to equipment malfunction or heavy
phone line usage. If this occurs, you should submit your request in writing.

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.

As stated earlier in this prospectus, we have imposed restrictions on transfers
including the right to change our telephone and facsimile transaction procedures
at any time. We also reserve the right to suspend or terminate the privilege
altogether with respect to any owners who we feel are abusing the privilege to
the detriment of other owners.

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 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.

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.

TELEPHONE WITHDRAWALS

If you complete a separate authorization form, you may make requests to withdraw
a portion of your contract value by telephone. We reserve the right to impose
maximum withdrawal amount and procedural requirements regarding this privilege.
For additional information regarding telephone procedures, see "Telephone and
Facsimile Transactions" in this prospectus.

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.

If your contract has joint owners, each owner will automatically be deemed to be
the beneficiary of the other. This means that any death benefit payable upon the
death of one owner will be paid to the other owner. In that case, any other
beneficiary you have named would receive the death benefit only if neither joint
owner remains alive at the time the death benefit becomes payable.

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

- the 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 30); 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 29.

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, less any partial
withdrawals.

OPTIONAL DEATH BENEFITS

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, 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 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 is in effect, you will pay the monthly
charge shown in the Fee Tables for that benefit. The benefit 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 benefit after an owner's death (we explain contract continuation
by a spouse in "Distributions following death of owner" on page 30).

In addition, you may terminate the Enhanced Death Benefit 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,
however, you CANNOT request us to terminate the rider and its charges.

ENHANCED DEATH BENEFIT

Under this benefit, 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 benefit'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.

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 32 before selecting this optional benefit rider.

EARNINGS ENHANCEMENT DEATH BENEFIT

(not available for contracts issued to tax-qualified plans)

Under this benefit, 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 benefit. In certain marketing materials, this rider may be
referred to as the "Beneficiary Tax Relief" benefit because any amounts paid
under this benefit can be used to cover taxes that may be due on death benefit
proceeds under your contract. Amounts paid under this benefit, 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 benefit is issued, the earnings enhancement amount will be 40%
of the difference between the Standard Death Benefit (or Enhanced
Death Benefit, if that benefit 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 benefit is issued, the earnings enhancement amount will be 25%
of the difference between the Standard Death Benefit (or Enhanced
Death Benefit, if that benefit 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.

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 32 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 OPTIONS CAN I PURCHASE UNDER A CONTRACT?

In addition to the enhanced death benefit discussed above, we currently make
available one other optional benefit. You may elect this rider:

- only if your state permits;

- only when you apply for a contract; and

- only if you are under age 75 when you apply for a contract.

This optional benefit is provided under a rider that contains many terms and
conditions not set forth below. Therefore, you should refer directly to the
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

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 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).

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.

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.

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 32 before selecting this optional benefit rider.

(Contracts issued before May 1, 2004 may have been issued with the following
optional benefit rider:)

GUARANTEED RETIREMENT INCOME BENEFIT

Under this benefit, 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.

If your contract was issued with 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.

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) contract 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. 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 that 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 strength 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 (John Hancock Life
Insurance Company's direct parent) has provided to JHVLICO. Standard & Poor's
Corporation and Fitch Ratings have assigned financial strength ratings to
JHVLICO of AA, which place JHVLICO in the third highest rating assigned 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"). JHFS is a publicly-reporting 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.

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
("JHLICO"), 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,
JHLICO became a subsidiary of John Hancock Financial Services, Inc., a newly
formed publicly-traded corporation. In April 2004, John Hancock Financial
Services, Inc. was merged with a subsidiary of Manulife Financial Corporation, a
publicly-traded corporation organized under the laws of Canada. The merger was
effected pursuant to an Agreement and Plan of Merger dated as of September 28,
2003. As a consequence of the merger, JHLICO's ultimate parent is now Manulife
Financial Corporation. JHLICO's home office is at John Hancock Place, Boston,
Massachusetts 02117. As of December 31, 2004, JHLICO's assets were approximately
$100 billion and it had invested approximately $1.9 billion in JHVLICO in
connection with JHVLICO's organization and operation. It is anticipated that
JHLICO 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. JHLICO 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, 2004;

- 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.

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.

INFORMATION ABOUT THE FUNDS.

The funds available under the contracts are as follows:

PORTFOLIO PORTFOLIO MANAGER INVESTMENT DESCRIPTION
- ------------------------ --------------------- -------------------------------------------------------

HEALTH SCIENCES TRUST T. Rowe Price seeks long-term capital appreciation by investing,
Associates, Inc. under normal market conditions, at least 80% of its net
assets (plus any borrowings for investment purposes) in
common stocks of companies engaged in the research,
development, production, or distribution of products or
services related to health care, medicine, or the life
sciences (collectively termed "health sciences").

SMALL CAP GROWTH TRUST Wellington Management Seeks long-term capital appreciation by investing,
Company, LLP under normal market conditions, primarily in small-cap
companies that are believed to offer above average
potential for growth in revenues and earnings.

SMALL CAP INDEX TRUST MFC Global Investment seeks to approximate the aggregate total return of a
Management (U.S.A.) small cap U.S. domestic equity market index by
Limited attempting to track the performance of the Russell 2000
Index.

MID CAP STOCK TRUST Wellington Management seeks long-term growth of capital by investing
Company, LLP primarily in equity securities of mid-size companies
with significant capital appreciation potential.

FINANCIAL SERVICES TRUST Davis Advisors seeks growth of capital by investing primarily in
common stocks of financial companies. During normal
market conditions, at least 80% of the portfolio's net
assets (plus any borrowings for investment purposes)
are invested in companies that are principally engaged
in financial services. A company is "principally
engaged" in financial services if it owns financial
services-related assets constituting at least 50% of
the value of its total assets, or if at least 50% of
its revenues are derived from its provision of
financial services.

PORTFOLIO PORTFOLIO MANAGER INVESTMENT DESCRIPTION
- ------------------------ --------------------- -------------------------------------------------------

INTERNATIONAL EQUITY SSgA Funds seeks to track the performance of a broad-based equity
INDEX TRUST B Management, Inc. index of foreign companies primarily in developed
countries and, to a lesser extent, in emerging market
countries by investing, under normal market conditions,
at least 80% of its assets in securities listed in the
Morgan Stanley Capital International All Country World
Excluding U.S. Index

OVERSEAS EQUITY TRUST Capital Guardian seeks long-term capital appreciation by investing,
Trust Company under normal market conditions, at least 80% of its
assets in equity securities of companies outside the
U.S. in a diversified mix of large established and
medium-sized foreign companies located primarily in
developed countries and, to a lesser extent, in
emerging markets.

MID CAP INDEX TRUST MFC Global Investment seeks to approximate the aggregate total return of a
Management (U.S.A.) mid cap U.S. domestic equity market index by attempting
Limited to track the performance of the S&P Mid Cap 400 Index*.

LARGE CAP GROWTH TRUST Fidelity Management & seeks long-term growth of capital by investing, under
Research Company normal market conditions, at least 80% of its net
assets (plus any borrowings for investment purposes) in
equity securities of companies with large market
capitalizations.

TOTAL STOCK MARKET INDEX MFC Global Investment seeks to approximate the aggregate total return of a
TRUST Management (U.S.A.) broad U.S. domestic equity market index by attempting
Limited to track the performance of the Wilshire 5000 Equity
Index*

BLUE CHIP GROWTH TRUST T. Rowe Price seeks to achieve long-term growth of capital (current
Associates, Inc. income is a secondary objective) by investing, under
normal market conditions, at least 80% of the
portfolio's total assets in the common stocks of large
and medium-sized blue chip growth companies. Many of
the stocks in the portfolio are expected to pay
dividends.

REAL ESTATE SECURITIES Deutsche Asset seeks to achieve a combination of long-term capital
TRUST Management Inc. appreciation and current income by investing, under
normal market conditions, at least 80% of its net
assets (plus any borrowings for investment purposes) in
equity securities of real estate investment trusts
("REITS") and real estate companies.

SMALL CAP VALUE TRUST Wellington Management seeks long-term capital appreciation by investing,
Company, LLP under normal market conditions, at least 80% of its
assets in small-cap companies that are believed to be
undervalued by various measures and offer good
prospects for capital appreciation.

MID VALUE TRUST T. Rowe Price seek long-term capital appreciation by investing, under
Associates, Inc. normal market conditions, primarily in a diversified
mix of common stocks of mid size U.S. companies that
are believed to be undervalued by various measures and
offer good prospects for capital appreciation.

GROWTH & INCOME II TRUST Independence seeks income and long-term capital appreciation by
Investment LLC investing, under normal market conditions, primarily in
a diversified mix of common stocks of large U.S.
companies.

PORTFOLIO PORTFOLIO MANAGER INVESTMENT DESCRIPTION
- ------------------------ --------------------- -------------------------------------------------------

500 INDEX TRUST B MFC Global Investment seeks to approximate the aggregate total return of a
Management (U.S.A.) broad U.S. domestic equity market index investing,
Limited under normal market conditions, at least 80% of its net
assets (plus any borrowings for investment purposes) in
(a) the common stocks that are included in the S & P
500 Index and (b) securities (which may or may not be
included in the S & P 500 Index) that MFC Global
(U.S.A.) believes as a group will behave in a manner
similar to the index.

EQUITY-INCOME TRUST T. Rowe Price seeks to provide substantial dividend income and also
Associates, Inc. long-term capital appreciation by investing primarily
in dividend-paying common stocks, particularly of
established companies with favorable prospects for both
increasing dividends and capital appreciation.

MANAGED TRUST Independence seeks income and long-term capital appreciation by
Investment LLC investing primarily in a diversified mix of: (a) common
stocks of large and mid sized U.S. companies, and (b)
Capital Guardian bonds with an overall intermediate term average
Trust Company maturity.

Declaration
Management & Research
LLC

HIGH YIELD TRUST Saloman Brothers seeks to realize an above-average total return over a
Asset Management Inc market cycle of three to five years, consistent with
reasonable risk, by investing primarily in high yield
debt securities, including corporate bonds and other
fixed-income securities.

GLOBAL BOND TRUST Pacific Investment seeks to realize maximum total return, consistent with
Management Company preservation of capital and prudent investment
management by investing the portfolio's assets
primarily in fixed income securities denominated in
major foreign currencies, baskets of foreign currencies
(such as the ECU), and the U.S. dollar.

TOTAL RETURN TRUST Pacific Investment seeks to realize maximum total return, consistent with
Management Company preservation of capital and prudent investment
management by investing, under normal market
conditions, at least 65% of the portfolio's assets in a
diversified portfolio of fixed income securities of
varying maturities. The average portfolio duration
will normally vary within a three- to six-year time
frame based on the subadviser's forecast for interest
rates.

BOND INDEX TRUST B Declaration seeks to track the performance of the Lehman Brothers
Management & Research Aggregate Index (which represents the U.S. investment
grade bond market) by investing, under normal market
conditions, at least 80% of its assets in securities
listed in the Lehman Index.

ACTIVE BOND TRUST Declaration seek income and capital appreciation by investing at
Management & Research least 80% of its assets in a diversified mix of debt
LLC securities and instruments.

John Hancock
Advisers, LLC

SHORT-TERM BOND TRUST Declaration Seeks income and capital appreciation by investing at
Management & Research least 80% of its assets in a diversified mix of debt
LLC securities and instruments.

PORTFOLIO PORTFOLIO MANAGER INVESTMENT DESCRIPTION
- ------------------------ --------------------- -------------------------------------------------------

MONEY MARKET TRUST B MFC Global Investment Seeks to obtain maximum current income consistent with
Management (U.S.A.) preservation of principal and liquidity by investing in
Limited high quality, U.S. Dollar denominated money market
instruments.

*"Standard & Poor's(R)," "S&P 500(R)," "Standard and Poor's 500(R)" and "S&P Mid
Cap 400(R)" are trademarks of The McGraw-Hill Companies, Inc. "Russell 2000(R),"
"Russell 2000(R) Growth" and "Russell 3000(R)" are trademarks of Frank Russell
Company. "Wilshire 5000(R)" is a trademark of Wilshire Associates. "MSCI All
Country World ex USIndex" and "EAFE(R)" are trademarks of Morgan Stanley & Co.
Incorporated. None of the Index Trusts are sponsored, endorsed, managed,
advised, sold or promoted by any of these companies, and none of these companies
make any representation regarding the advisability of investing in the Trust.

DESCRIPTION OF CHARGES AT THE FUND LEVEL

The funds must pay investment management fees and other operating expenses.
These fees and expenses, as shown in the fund expense table in the Fee Tables,
are different for each fund and reduce the investment return of each fund.
Therefore, they also indirectly reduce the return you will earn on any variable
investment options you select. We may also receive payments from a fund or its
affiliates at an annual rate of up to approximately 0.35% of the average net
assets that holders of our variable life insurance policies and variable annuity
contracts have invested in that fund. Any such payments do not, however, result
in any charge to you in addition to what is shown in the table.

The figures for the funds shown in the fund expense table are based on
historical fund expenses, as a percentage (rounded to two decimal places) of
each fund's average daily net assets for 2004, except as indicated in the
footnotes appearing at the end of the table. Expenses of the funds are not fixed
or specified under the terms of the contract, and those expenses may vary from
year to year.

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 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")

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 "Variable
investment option valuation procedures" on page 30.)

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 33.)

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 29).

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

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.

TRANSFERS DURING THE ANNUITY PERIOD

Some transfers are permitted during the annuity period, but subject to different
limitations than during the accumulation period. Once annuity payments on a
variable basis have begun, you may transfer all or part of the investment upon
which those payments are based from one sub-account to another. You must submit
your transfer request to our Annuity Service Office at least 30 DAYS BEFORE the
due date of the first annuity payment to which your transfer will apply.
Transfers after the maturity date will be made by converting the number of
annuity units being transferred to the number of annuity units of the
sub-account to which the transfer is made, so that the next annuity payment if
it were made at that time would be the same amount that it would have been
without the transfer. Thereafter, annuity benefit payments will reflect changes
in the value of the annuity units for the new sub-account selected. We limit the
maximum number of transfers a contract owner may make per contract year subject
to a limit of 4 investment options being open at one time. Once annuity benefit
payments begin, no transfers may be made from payments on a fixed basis to
payments on a variable basis or from payments on a variable basis to payments on
a fixed basis. In addition, we reserve the right to defer the transfer privilege
at any time that we are unable to purchase or redeem shares of a Fund. We also
reserve the right to modify or terminate the transfer privilege at any time in
accordance with applicable law.

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. 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.

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 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 34.

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.

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 this 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.

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. In addition, any
portion of your contract value that you borrow or pledge will be taxable to the
extent of gain in the contract at that time.

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

If we pay the entire value of your contract in a lump sum 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 lump
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.

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

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).

SPECIAL CONSIDERATIONS FOR PUERTO RICO ANNUITY CONTRACTS

distributions are deemed to be income first. Under the Puerto Rico tax laws,
however, distributions from a contract not purchased to fund a tax qualified
plan ("Non-Qualified Contract") are treated as a non-taxable return of principal
until the principal is fully recovered. Thereafter, all distributions under a
Non-Qualified Contact are fully taxable. Puerto Rico does not currently impose
an early withdrawal penalty tax. The Internal Revenue Code, however, does impose
such a penalty and bases it on the amount that is taxable under federal rules.

Distributions under a Non-Qualified Contract after annuitization are treated as
part taxable income and part non-taxable return of principal. The amount
excluded from gross income after annuitization under Puerto Rico tax law 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. For federal income tax purposes, however, the
portion of each annuity payment that is subject to tax is computed on the basis
of investment in the contract and the annuitant's life expectancy. Generally,
Puerto Rico does not require income tax to be withheld from distributions of
income. Although Puerto Rico allows a credit against its income tax for taxes
paid to the federal government, you may not be able to use the credit fully. If
you are a resident of Puerto Rico, you should consult a competent tax adviser
before purchasing an annuity contract.

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

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. 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 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. It does not include a discussion of federal estate tax and gift tax or
state tax consequences. 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.

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.

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.

Signator representatives may receive additional cash or non-cash incentives
(including expenses for conference or seminar trips and certain gifts) in
connection with the sale of contracts issued by JHVLICO From time to time,
Signator, at its expense, may also provide significant additional amounts to
broker dealers or other 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 events or activities sponsored by the financial services
firms. As a consequence of such additional compensation, representatives and
financial services firms, including but not limited to Signator and its
representatives, may be motivated to sell our contracts instead of contracts
issued by other insurance companies.

EXPERTS

Ernst & Young LLP, independent registered public accounting firm, have audited
the consolidated financial statements and schedules of John Hancock Life
Insurance Company at December 31, 2004, and 2003 and for each of the three years
in the period ended December 31, 2003, and the financial statements of the
Account at December 31, 2004 and for each of the periods indicated therein, as
set forth in their reports. We've included these financial statements 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.

APPENDIX A: 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...................................... 13
Annuity period........................................ 13
Business day.......................................... 10
Contract year......................................... 11
Date of issue......................................... 11
Date of maturity...................................... 29
Extra Credits......................................... 13
Free withdrawal amount................................ 17
Funds................................................. 2
Guarantee period...................................... 12
Investment options.................................... 14
Market value adjustment............................... 12
Premium payments...................................... 10
Surrender............................................. 16
Surrender value....................................... 17
Total value of your contract.......................... 12
Variable investment options........................... cover
Withdrawal charge..................................... 16
Withdrawal............................................ 16

APPENDIX B: 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)/1+c+0.005)](n/12)-1

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 withdrawl or transfer beginning of 3rd year of guaranteed period
Guaranteed rate* (g) 4%
Guaranteed rate for new 3 year guarantee* (c) 3%
Remaining guarantee period (n) 36 months

MARKET VALUE ADJUSTMENT:

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

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

MARKET VALUE ADJUSTMENT:

10,000 x [{(1+0.04)/(1+0.05+0.005)}(36/12) -1] = -420.50

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 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

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
therefore $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.

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 therefore $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 . 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
therefore $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.

APPENDIX U: ACCUMULATION UNIT VALUE TABLES

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.

YEAR YEAR YEAR YEAR YEAR AUG. 10
ENDED ENDED ENDED ENDED ENDED 1999
DEC. 31 DEC. 31 DEC. 31 DEC. 31 DEC. 31 DEC. 31
2004 2003 2002 2001 2000 1999
-------- -------- --------- --------- --------- --------

EQUITY INDEX
Accumulation Share Value:
Beginning of period .......................................... $ 17.10 $ 13.49 $ 17.58 $ 20.22 $ 22.54 $ 10.00
End of period................................................. $ 18.70 $ 17.10 $ 13.49 $ 17.58 $ 20.22 $ 22.54
Number of Accumulation Shares outstanding at end of period...... 85,101 85,894 86,077 804,600 507,320 76,098
LARGE CAP VALUE
Accumulation Share Value:
Beginning of period (Note 3).................................. $ 12.08 $ 9.75 $ 11.38 $ 10.00 - -
End of period................................................. $ 13.72 $ 12.08 $ 9.75 $ 11.38 - -
Number of Accumulation Shares outstanding at end of period...... 94,674 91,386 50,708 334,667 - -
FUNDAMENTAL VALUE B (formerly "Large Cap Value CORE (SM)")
(Effective November 1, 2004, merged into "Fundamental Value")
Accumulation Share Value:
Beginning of period........................................... $ 10.35 $ 8.13 $ 10.07 $ 10.71 $ 10.31 $ 10.00
End of period................................................. $ 11.08 $ 10.35 $ 8.13 $ 10.07 $ 10.71 $ 10.31
Number of Accumulation Shares outstanding at end of period...... - 71,994 80,764 1,056,790 520,128 92,493
LARGE CAP GROWTH
Accumulation Share Value:
Beginning of period (Note 3).................................. $ 7.19 $ 5.79 $ 8.13 $ 10.00 - -
End of period................................................. $ 7.41 $ 7.19 $ 5.79 $ 8.13 - -
Number of Accumulation Shares outstanding at end of period...... 146,532 49,259 10,413 77,662 - -
LARGE CAP GROWTH B (formerly "Large Cap Aggressive Growth")
(Effective November 1, 2004, merged into "Large Cap Growth")
Accumulation Share Value:
Beginning of period........................................... $ 7.13 $ 5.48 $ 8.09 $ 9.60 $ 11.97 $ 10.00
End of period................................................. $ 6.81 $ 7.13 $ 5.48 $ 8.09 $ 9.60 $ 11.97
Number of Accumulation Shares outstanding at end of period...... - 45,760 78,966 1,205,414 1,040,129 178,388
GROWTH & INCOME
Accumulation Share Value:
Beginning of period (Note 2).................................... $ 6.95 $ 5.66 $ 7.36 $ 8.82 $ 10.00 -
End of period................................................... $ 7.61 $ 6.95 $ 5.66 $ 7.36 $ 8.82 -
Number of Accumulation Shares outstanding at end of period 149,584 160,565 126,954 1,817,947 12,749 -
FUNDAMENTAL VALUE
Accumulation Share Value:
Beginning of period........................................... $ 11.12 $ 8.75 $ 10.73 $ 11.68 $ 10.43 $ 10.00
End of period................................................. $ 12.70 $ 11.12 $ 8.75 $ 10.73 $ 11.68 $ 10.43
Number of Accumulation Shares outstanding at end of period...... 143,234 78,791 85,139 802,605 347,760 64,904

EARNINGS GROWTH
Accumulation Share Value:
Beginning of period (Note 1).................................. $ 3.65 $ 2.96 $ 4.43 $ 7.11 $ 10.00 -
End of period................................................. $ 3.70 $ 3.65 $ 2.96 $ 4.43 $ 7.11 -
Number of Accumulation Shares outstanding at end of period...... 118,540 129,095 154,964 1,636,323 629,910 -
FUNDAMENTAL GROWTH
(Effective November 1, 2004, merged into "Large Cap Growth")
Accumulation Share Value:
Beginning of period........................................... $ 8.84 $ 6.79 $ 9.86 $ 14.74 $ 15.39 $ 10.00
End of period................................................. $ 8.43 $ 8.84 $ 6.79 $ 9.86 $ 14.74 $ 15.39
Number of Accumulation Shares outstanding at end of period...... - 49,535 66,283 589,572 525,081 38,912
MID CAP VALUE B (formerly "Small/Mid Cap CORE (SM)")
Accumulation Share Value:
Beginning of period........................................... $ 15.68 $ 10.94 $ 13.06 $ 13.16 $ 12.73 $ 11.00
End of period................................................. $ 18.39 $ 15.68 $ 10.94 $ 13.06 $ 13.16 $ 12.73
Number of Accumulation Shares outstanding at end of period...... 54,371 39,919 41,956 220,092 114,891 9,532
MID CAP GROWTH (formerly "Small/Mid Cap Growth")
Accumulation Share Value:
Beginning of period........................................... $ 23.49 $ 16.19 $ 20.79 $ 20.47 $ 18.98 $ 18.07
End of period................................................. $ 25.90 $ 23.49 $ 16.19 $ 20.79 $ 20.47 $ 18.98
Number of Accumulation Shares outstanding at end of period...... 28,188 29,359 29,475 242,085 136,439 14,779
SMALL CAP EMERGING GROWTH
Accumulation Share Value:
Beginning of period (Note 2).................................. $ 8.23 $ 5.60 $ 7.90 $ 8.30 $ 10.00 -
End of period................................................. $ 8.90 $ 8.23 $ 5.60 $ 7.90 $ 8.30 -
Number of Accumulation Shares outstanding at end of period...... 66,206 12,351 8,332 79,406 535 -
SMALL CAP VALUE
Accumulation Share Value:
Beginning of period........................................... $ 20.54 $ 15.07 $ 16.31 $ 13.87 $ 10.46 $ 10.00
End of period................................................. $ 25.43 $ 20.54 $ 15.07 $ 16.31 $ 13.87 $ 10.46
Number of Accumulation Shares outstanding at end of period...... 63,114 79,351 81,318 546,648 241,338 -
SMALL CAP GROWTH
(Effective November 1, 2004, merged into "Small Cap Emerging
Growth")
Accumulation Share Value:
Beginning of period........................................... $ 12.39 $ 9.81 $ 14.19 $ 16.44 $ 21.19 $ 14.27
End of period................................................. $ 12.27 $ 12.39 $ 9.81 $ 14.19 $ 16.44 $ 21.19
Number of Accumulation Shares outstanding at end of period...... - 41,073 45,628 715,728 608,753 59,529
AIM V.I. PREMIER EQUITY - SERIES I CLASS
Accumulation Share Value:
Beginning of period........................................... $ 7.29 $ 5.90 $ 8.57 $ 9.92 $ 11.77 $ 10.00
End of period................................................. $ 7.62 $ 7.29 $ 5.90 $ 8.57 $ 9.92 $ 11.77
Number of Accumulation Shares outstanding at end of period...... 227,332 268,348 230,661 3,090,645 2,548,369 302,772

AIM V.I. CAPITAL DEVELOPMENT - SERIES II CLASS
Accumulation Share Value:
Beginning of period (Note 4).................................. $ 9.93 $ 7.45 $ 10.00 - - -
End of period................................................. $ 11.31 $ 9.93 $ 7.45 - - -
Number of Accumulation Shares outstanding at end of period...... 1,080 6,387 2,620 - - -
FIDELITY VIP CONTRAFUND (R) - SERVICE CLASS
Accumulation Share Value:
Beginning of period........................................... $ 10.49 $ 8.28 $ 9.25 $ 10.69 $ 11.61 $ 10.00
End of period................................................. $ 11.95 $ 10.49 $ 8.28 $ 9.25 $ 10.69 $ 11.61
Number of Accumulation Shares outstanding at end of period...... 157,444 179,239 202,789 1,645,859 1,447,471 237,990
FIDELITY VIP GROWTH - SERVICE CLASS
Accumulation Share Value:
Beginning of period........................................... $ 7.76 $ 5.92 $ 8.59 $ 10.57 $ 12.04 $ 10.00
End of period................................................. $ 7.92 $ 7.76 $ 5.92 $ 8.59 $ 10.57 $ 12.04
Number of Accumulation Shares outstanding at end of period...... 157,843 203,487 198,959 2,501,361 1,875,307 205,097
MFS INVESTORS GROWTH STOCK - INITIAL CLASS
Accumulation Share Value:
Beginning of period........................................... $ 7.46 $ 6.14 $ 8.58 $ 11.45 $ 12.36 $ 10.00
End of period................................................. $ 8.05 $ 7.46 $ 6.14 $ 8.58 $ 11.45 $ 12.36
Number of Accumulation Shares outstanding at end of period...... 121,589 132,909 146,522 1,280,675 971,077 158,192
MFS RESEARCH - INITIAL CLASS
Accumulation Share Value:
Beginning of period........................................... $ 7.95 $ 6.46 $ 8.67 $ 11.14 $ 11.86 $ 10.00
End of period................................................. $ 9.10 $ 7.95 $ 6.46 $ 8.67 $ 11.14 $ 11.86
Number of Accumulation Shares outstanding at end of period...... 38,062 49,422 68,797 970,571 672,010 73,452
INTERNATIONAL EQUITY INDEX
Accumulation Share Value:
Beginning of period (Note 4).................................. $ 9.49 $ 6.77 $ 10.00 - - -
End of period................................................. $ 11.27 $ 9.49 $ 6.77 - - -
Number of Accumulation Shares outstanding at end of period...... 34,893 31,853 906 - - -
OVERSEAS EQUITY B (formerly "International Opportunities")
Accumulation Share Value:
Beginning of period (Note 3).................................. $ 8.79 $ 6.72 $ 8.33 $ 10.00 - -
End of period................................................. $ 9.64 $ 8.79 $ 6.72 $ 8.33 - -
Number of Accumulation Shares outstanding at end of period...... 102,357 16,942 18,535 20,457 - -
OVERSEAS EQUITY
(Effective November 1, 2004, merged into "Overseas Equity B
(formerly "International Opportunities")")
Accumulation Share Value:
Beginning of period........................................... $ 13.75 $ 9.96 $ 10.76 $ 11.65 $ 12.98 $ 12.24
End of period................................................. $ 14.08 $ 13.75 $ 9.96 $ 10.76 $ 11.65 $ 12.98
Number of Accumulation Shares outstanding at end of period...... - 35,964 24,431 128,318 63,735 5,361

FIDELITY VIP OVERSEAS - SERVICE CLASS
Accumulation Share Value:
Beginning of period........................................... $ 8.62 $ 6.10 $ 7.73 $ 9.97 $ 12.48 $ 10.00
End of period................................................. $ 9.66 $ 8.62 $ 6.10 $ 7.73 $ 9.97 $ 12.48
Number of Accumulation Shares outstanding at end of period...... 108,986 126,285 143,079 960,931 1,107,608 30,517
OVERSEAS EQUITY C (formerly "Emerging Markets Equity")
(Effective November 1, 2004, merged into "Overseas Equity B
(formerly "International Opportunities")")
Accumulation Share Value:
Beginning of period (Note 3).................................. $ 14.06 $ 9.07 $ 9.85 $ 10.00 - -
End of period................................................. $ 15.37 $ 14.06 $ 9.07 $ 9.85 - -
Number of Accumulation Shares outstanding at end of period...... - 4,792 2,150 7,941 - -
JANUS ASPEN WORLDWIDE GROWTH - SERVICE SHARES CLASS
Accumulation Share Value:
Beginning of period (Note 2).................................. $ 6.19 $ 5.07 $ 6.90 $ 9.03 $ 10.00 -
End of period................................................. $ 6.39 $ 6.19 $ 5.07 $ 6.90 $ 9.03 -
Number of Accumulation Shares outstanding at end of period...... 35,764 47,215 42,016 322,018 128,709 -
REAL ESTATE EQUITY
Accumulation Share Value:
Beginning of period (Note 2).................................. $ 15.47 $ 11.44 $ 11.43 $ 10.95 $ 10.00 -
End of period................................................. $ 20.85 $ 15.47 $ 11.44 $ 11.43 $ 10.95 -
Number of Accumulation Shares outstanding at end of period...... 31,913 48,314 48,847 138,332 1,766 -
HEALTH SCIENCES
Accumulation Share Value:
Beginning of period (Note 3).................................. $ 10.00 $ 7.69 $ 9.73 $ 10.00 - -
End of period................................................. $ 10.98 $ 10.00 $ 7.69 $ 9.73 - -
Number of Accumulation Shares outstanding at end of period...... 13,508 15,522 15,340 100,786 - -
FINANCIAL INDUSTRIES (NOTE 5)
Accumulation Share Value:
Beginning of period........................................... $ 14.43 $ 11.60 $ 14.58 $ 17.90 $ 14.25 $ 10.00
End of period................................................. $ 15.49 $ 14.43 $ 11.60 $ 14.58 $ 17.90 $ 14.25
Number of Accumulation Shares outstanding at end of period...... 18,431 21,825 49,964 855,100 642,376 113,876
MANAGED
Accumulation Share Value:
Beginning of period (Note 2).................................. $ 9.41 $ 8.00 $ 9.34 $ 9.73 $ 10.00 -
End of period................................................. $ 10.05 $ 9.41 $ 8.00 $ 9.34 $ 9.73 -
Number of Accumulation Shares outstanding at end of period...... 65,821 73,227 80,473 868,814 89 -
SHORT TERM BOND
Accumulation Share Value:
Beginning of period........................................... $ 15.04 $ 14.82 $ 14.20 $ 13.30 $ 12.48 $ 12.34
End of period................................................. $ 15.07 $ 15.04 $ 14.82 $ 14.20 $ 13.30 $ 12.48
Number of Accumulation Shares outstanding at end of period...... 98,324 118,364 132,895 440,240 126,421 15,433

BOND INDEX
Accumulation Share Value:
Beginning of period........................................... $ 12.57 $ 12.28 $ 11.31 $ 10.63 $ 9.63 $ 9.65
End of period................................................. $ 12.91 $ 12.57 $ 12.28 $ 11.31 $ 10.63 $ 9.63
Number of Accumulation Shares outstanding at end of period...... 78,974 105,438 145,149 833,929 327,502 47,232
ACTIVE BOND
Accumulation Share Value:
Beginning of period (Note 3).................................. $ 11.57 $ 11.00 $ 10.39 $ 10.00 - -
End of period................................................. $ 11.97 $ 11.57 $ 11.00 $ 10.39 - -
Number of Accumulation Shares outstanding at end of period...... 152,483 172,975 191,092 1,154,989 - -
HIGH YIELD BOND
Accumulation Share Value:
Beginning of period........................................... $ 9.90 $ 8.60 $ 9.12 $ 9.04 $ 10.27 $ 10.00
End of period................................................. $ 10.57 $ 9.90 $ 8.60 $ 9.12 $ 9.04 $ 10.27
Number of Accumulation Shares outstanding at end of period...... 89,295 97,589 77,833 644,021 333,028 48,898
GLOBAL BOND
Accumulation Share Value:
Beginning of period (Note 2).................................. $ 13.85 $ 12.10 $ 10.31 $ 10.60 $ 10.00 -
End of period................................................. $ 15.13 $ 13.85 $ 12.10 $ 10.31 $ 10.60 -
Number of Accumulation Shares outstanding at end of period...... 31,596 32,488 28,155 71,857 - -
MONEY MARKET
Accumulation Share Value:
Beginning of period (Note 3).................................. $ 10.12 $ 10.15 $ 10.12 $ 10.00 - -
End of period................................................. $ 10.10 $ 10.12 $ 10.15 $ 10.12 - -
Number of Accumulation Shares outstanding at end of period...... 333,841 346,239 1,018,815 4,289,180 - -
MID CAP VALUE
(Effective November 1, 2004, merged into "Mid Cap Value B
(formerly "Small/Mid Cap CORE SM")")
Accumulation Share Value:
Beginning of period (Note 6).................................. $ 13.56 $ 10.00 - - - -
End of period................................................. $ 14.77 $ 13.56 - - - -
Number of Accumulation Shares outstanding at end of period...... - 8,029 - - - -
TOTAL RETURN
Accumulation Share Value:
Beginning of period (Note 6).................................. $ 10.11 $ 10.00 - - - -
End of period..................................................$ 10.46 $ 10.11 - - - -
Number of Accumulation Shares outstanding at end of period...... 9,789 10,515 - - - -
MFS NEW DISCOVERY SERIES - INITIAL CLASS
Accumulation Share Value:
Beginning of period (Note 3).................................. $ 12.35 $ 9.35 $ 13.85 $ 14.77 $ 15.26 $ 10.00
End of period................................................. $ 12.99 $ 12.35 $ 9.35 $ 13.85 $ 14.77 $ 15.26
Number of Accumulation Shares outstanding at end of period...... 57,556 76,297 83,268 533,377 431,090 36,557

JANUS ASPEN GLOBAL TECHNOLOGY - SERVICE SHARES CLASS
Accumulation Share Value:
Beginning of period (Note 6).................................. $ 13.67 $ 10.04 - - - -
End of period................................................. $ 13.58 $ 13.67 - - - -
Number of Accumulation Shares outstanding at end of period...... 1,095 1,101 - - - -

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

(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.

(6) Values shown for 2003 begin on May 1, 2003.

ANNUITY SERVICE OFFICE MAILING ADDRESS
601 Congress Street Post Office Box 55106
Boston, Massachusetts 02210-2805 Boston, Massachusetts 02205- 5106
(617) 663-3000 or (800) 824-0335

Prospectus dated May 2, 2005
for interests in
John Hancock Variable Annuity Account JF

Interests are made available under

REVOLUTION EXTRA VARIABLE ANNUITY

a flexible purchase payment deferred combination fixed and variable annuity
contract issued by
JOHN HANCOCK VARIABLE LIFE INSURANCE COMPANY

This 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:

Health Sciences Mid Value
Small Cap Growth Growth & Income II
Small Cap Index* 500 Index B
Mid Cap Stock Equity-Income
Financial Services Managed
International Equity Index B High Yield
Overseas Equity Global Bond
Mid Cap Index Total Return
Large Cap Growth Bond Index B
Total Stock Market Index Active Bond
Blue Chip Growth Short-Term Bond
Real Estate Securities Money Market B
Small Cap Value

* Not available for contracts issued after April 30, 2003

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 16 IF YOU PREMATURELY "SURRENDER" OR OTHERWISE
WITHDRAW MONEY IN EXCESS OF THE FREE WITHDRAWAL AMOUNTS (SEE PAGE 17) WHILE THIS
CHARGE IS IN EFFECT. CONTRACTS ARE NOT DEPOSITS OR OBLIGATIONS OF, OR INSURED,
GUARANTEED OR ENDORSED BY ANY BANK, THE FEDERAL DEPOSIT INSURANCE CORPORATION,
THE FEDERAL RESERVE BOARD, OR ANY OTHER AGENCY. PLEASE READ THIS PROSPECTUS
CAREFULLY AND KEEP IT FOR FUTURE REFERENCE. IT CONTAINS INFORMATION THAT THE
CONTRACT OWNER ("YOU") SHOULD KNOW BEFORE INVESTING. PLEASE NOTE THAT THE
SECURITIES AND EXCHANGE COMMISSION ("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.

Additional information about the contract and the Account is contained in a
Statement of Additional Information, dated the same date as this prospectus,
which has been filed with the SEC and is incorporated herein by reference. The
Statement of Additional Information is available without charge upon request by
writing us at the above address or by telephoning the number above. The SEC
maintains a Web site (http://www.sec.gov) that contains the Statement of
Additional Information and other information about us, the contracts and the
Account. We list the Table of Contents of the Statement of Additional
Information on page 3.

TABLE OF CONTENTS

GUIDE TO THIS PROSPECTUS................................................ 2
FEE TABLES................................................................ 3
Examples............................................................. 5
BASIC INFORMATION......................................................... 6
WHAT IS THE CONTRACT?................................................... 6
WHO OWNS THE CONTRACT?.................................................. 6
IS THE OWNER ALSO THE ANNUITANT?........................................ 6
HOW CAN I INVEST MONEY IN A CONTRACT?................................... 6
Premium Payments...................................................... 6
Allocation of Premium Payments........................................ 6
Limits on Premium Payments............................................ 7
Ways to Make Premium Payments......................................... 7
Premium Payments by Wire.............................................. 7
How Will the Value of My Investment in the Contract Change Over Time?... 7
Extra Credit Feature.................................................. 8
What Annuity Benefits Does the Contract Provide?........................ 8
To What Extent Can JHVLICO Vary the Terms and Conditions of its
Contracts?.............................................................. 8
State Law Insurance Requirements...................................... 9
Variations in Charges or Rates........................................ 9
What are the Tax Consequences of Owning a Contract?..................... 9
How Can I Change My Contract's Investment Allocations?.................. 9
Allocation of Premium Payments........................................ 9
Transfers Among Investment Options.................................... 9
Procedure for Transferring Your Assets................................ 10
Dollar-Cost Averaging Program......................................... 11
Strategic Rebalancing................................................. 11
WHAT FEES AND CHARGES WILL BE DEDUCTED FROM MY CONTRACT?................ 12
Annual Contract Fee................................................... 12
Asset-Based Charge.................................................... 12
Premium Taxes......................................................... 12
Withdrawal Charge..................................................... 12
Other Charges......................................................... 13
HOW CAN I WITHDRAW MONEY FROM MY CONTRACT?.............................. 13
Surrenders and Partial Withdrawals.................................... 13
Waiver of Withdrawal Charge Rider..................................... 13
Systematic Withdrawal Plan............................................ 14
Telephone Withdrawals............................................... 14
WHAT HAPPENS IF THE OWNER OR THE ANNUITANT DIES BEFORE MY CONTRACT'S
DATE OF MATURITY?....................................................... 14
Standard Death Benefit................................................ 15
OPTIONAL DEATH BENEFITS................................................. 15
Enhanced Death Benefit................................................ 15
What Other Optional Benefits Can I Purchase Under a Contract?........... 16
Accumulated Value Enhancement Benefit................................. 17
Can I Return My Contract?............................................... 18
WHAT ADDITIONAL GUARANTEE APPLIES TO THE GUARANTEE PERIODS UNDER
MY CONTRACT?............................................................ 18
What are the Terms of the Additional Guarantee?......................... 18
DESCRIPTION OF JHVLICO.................................................... 19
FINDING ADDITIONAL INFORMATION ABOUT JHVLICO AND JHFS..................... 19
HOW WE SUPPORT THE VARIABLE INVESTMENT OPTIONS............................ 19
Information about the Funds........................................... 20
Description of Charges at the Fund Level.............................. 22
HOW WE SUPPORT THE GUARANTEE PERIODS...................................... 23
HOW THE GUARANTEE PERIODS WORK............................................ 23
Guaranteed Interest Rates............................................. 23
Calculation of Market Value Adjustment ("MVA")........................ 23
THE ACCUMULATION PERIOD................................................... 24
Your Value in Our Variable Investment Options......................... 24
Valuation of Accumulation Units....................................... 24
Your Value in the Guarantee Periods................................... 24
THE ANNUITY PERIOD........................................................ 25
Date of Maturity...................................................... 25
Choosing Fixed or Variable Annuity Payments........................... 25
Selecting an Annuity Option........................................... 25
Variable Monthly Annuity Payments..................................... 25
Assumed Investment Rate............................................... 26
Transfers during the annuity period................................... 26
Fixed Monthly Annuity Payments........................................ 26
Annuity Options....................................................... 26
VARIABLE INVESTMENT OPTION VALUATION PROCEDURES........................... 27
DISTRIBUTIONS FOLLOWING DEATH OF OWNER.................................... 27
MISCELLANEOUS PROVISIONS.................................................. 28
Assignment; Change of Owner or Beneficiary............................ 28
Who Should Purchase A Contract?......................................... 28
TAX INFORMATION........................................................... 29
Our Income Taxes...................................................... 29
Special Considerations for Optional Benefit Riders.................... 29
Contracts Not Purchased to Fund a Tax Qualified Plan.................. 29
Undistributed Gains................................................... 29
Annuity Payments...................................................... 29
Surrenders, Withdrawals and Death Benefits............................ 30
Penalty for Premature Withdrawals..................................... 30
Special Considerations for Puerto Rico Annuity Contracts.............. 30
Diversification Requirements.......................................... 30
Contracts Purchased for a Tax Qualified Plan.......................... 31
Tax-Free Rollovers.................................................... 31
Traditional IRAs...................................................... 31
Roth IRAs............................................................. 32
SIMPLE IRA Plans...................................................... 33
Simplified Employee Pension Plans (SEPs).............................. 33
Section 403(b) plans.................................................. 33
Pension and Profit Sharing Plans Qualified Under Section 401(a)....... 33
"Top-Heavy" Plans..................................................... 34

Section 457 Deferred Compensation Plans................................ 34
Elective Deferral Limits............................................... 34
Elective Catch-Up Limits............................................... 34
Withholding on Rollover Distributions.................................. 35
Puerto Rico Annuity Contracts Purchased to Fund a Tax-Qualified Plan... 35
See Your Own Tax Adviser............................................... 35
PERFORMANCE INFORMATION.................................................... 35
REPORTS.................................................................... 36
VOTING PRIVILEGES.......................................................... 36
CERTAIN CHANGES............................................................ 36
Changes to the Account................................................. 36
Variations in Charges or Rates for Eligible Classes.................... 36
DISTRIBUTION OF CONTRACTS.................................................. 36
EXPERTS.................................................................... 37
APPENDIX A: Index of Key Words............................................ 38
APPENDIX B: Details About Our Guarantee Periods........................... 39
APPENDIX C: Example of Withdrawal Charge Calculation...................... 41
APPENDIX D: Examples of Earnings Enhancement Death Benefit Calculation.... 43
APPENDIX U: Accumulation Unit Value Tables................................ 45

The Table of Contents of the Statement of Additional Information lists the
following subjects that it covers:

"SAI"

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

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

OTHER PERFORMANCE INFORMATION........................................... 3

CALCULATION OF ANNUITY PAYMENTS......................................... 4

ADDITIONAL INFORMATION ABOUT DETERMINING
UNIT VALUES............................................................. 5

PURCHASES AND REDEMPTIONS OF FUND SHARES................................ 6

THE ACCOUNT............................................................. 6

DELAY OF CERTAIN PAYMENTS............................................... 7

LIABILITY FOR TELEPHONE TRANSFERS....................................... 7

VOTING PRIVILEGES....................................................... 7

FINANCIAL STATEMENTS.................................................... 9

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.

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.

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 withdrawn or 7% for the first year
surrendered) (1) 7% for the second year
7% for the third year
7% for the fourth year
6% for the fifth year
5% for the sixth year
4% for the seventh year
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 (as a percentage of average
account value) (5) 1.25%

OPTIONAL BENEFIT RIDER CHARGES (6)
- --------------------------------------------------------------------------------
Waiver of Withdrawal Charge ("CARESolutions") Rider 0.10% of that portion of your contract's 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 Tax Relief") Death Benefit Rider 0.25% of your contract's total value

Accumulated Value Enhancement
("CARESolutions Plus") Rider (8) 0.35% of your initial premium payment

Guaranteed Retirement Income Benefit Rider (9) 0.30% of your contract's total value

(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 1/12th 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.

(9) This rider is not available for contracts issued after April 30, 2004.

The next table describes the minimum and maximum total operating expenses
charged by the portfolios that you may pay periodically during the time that you
own the contract. More detail concerning each portfolio's fees and expenses is
contained in the portfolio's prospectus.

TOTAL ANNUAL PORTFOLIO OPERATING EXPENSES MINIMUM MAXIMUM
- --------------------------------------------------------------- ------- -------

Range of expenses that are deducted from fund assets, including
management fees, , and other expenses 0.50% 1.16%

ALL OF THE PORTFOLIOS SHOWN IN THE TABLE ARE NAV CLASS SHARES THAT ARE NOT
SUBJECT TO RULE 12b-1 FEES THESE NAV CLASS SHARES COMMENCED OPERATIONS ON APRIL
29, 2005. THESE NAV CLASS SHARES OF A PORTFOLIO ARE BASED UPON THE EXPENSE
RATIOS OF THE PORTFOLIO'S SERIES I SHARES FOR THE YEAR ENDED DECEMBER 31, 2004
(ADJUSTED TO REFLECT THE ABSENCE OF ANY RULE 12b-1 FEE APPLICABLE TO THE NAV
SHARES).

TOTAL
MANAGEMENT OTHER ANNUAL
PORTFOLIO FEES EXPENSES EXPENSES
- ------------------------------------------ ---------- -------- --------

JOHN HANCOCK TRUST - NAV SHARES
Health Sciences Trust 1.05%(B) 0.11% 1.16%
Small Cap Growth Trust(A) 1.08% 0.07% 1.15%
Small Cap Index Trust 0.49% 0.03% 0.52%
Mid Cap Stock Trust 0.86% 0.05% 0.91%
Financial Services Trust 0.88%(C) 0.08% 0.96%
International Equity Index Trust B(A + D) 0.55% 0.04% 0.59%
Overseas Equity Trust(A) 1.05% 0.09% 1.14%
Mid Cap Index Trust 0.49% 0.03% 0.52%
Large Cap Growth Trust 0.85% 0.06% 0.91%
Total Stock Market Index Trust 0.49% 0.03% 0.52%
Blue Chip Growth Trust 0.82%(B) 0.04% 0.86%
Real Estate Securities Trust 0.70% 0.05% 0.75%
Small Cap Value Trust(A) 1.08% 0.08% 1.16%
Mid Value Trust (A +) 1.01%(B) 0.07% 1.08%
Growth & Income II Trust (A +) 0.68% 0.03% 0.71%
500 Index Trust B(A + D) 0.47% 0.03% 0.50%
Equity-Income Trust 0.81%(B) 0.05% 0.86%
Managed Trust (A +) 0.73% 0.04% 0.77%
High Yield Trust 0.68% 0.07% 0.75%
Global Bond Trust 0.70% 0.10% 0.80%
Total Return Trust 0.70% 0.05% 0.75%
Bond Index Trust B (A + D) 0.47% 0.03% 0.50%
Active Bond Trust (A +) 0.61% 0.04% 0.65%
Short-Term Bond Trust (A + D) 0.58% 0.05% 0.63%
Money Market Trust B (A +) 0.49% 0.04% 0.53%

(+) Commencement of operations -- April 29, 2005

(A) Based on estimates for the current fiscal year

(B) The Adviser has voluntarily agreed to waive a portion of its advisory fee
for the Science & Technology Trust, Health Sciences Trust, the Blue Chip Growth
Trust the Equity-Income Trust, the Mid Value Trust, and the Small Company Value
Trust. The waiver is based on the combined assets of these portfolios. Once
these combined assets exceed specified amounts, the fee reduction is increased.

MANAGEMENT TOTAL ANNUAL
PORTFOLIO FEES EXPENSES
- -------------------------- ---------- ------------

Health Sciences Trust 1.02% 1.13%
Blue Chip Growth Trust 0.79% 0.83%
Equity-Income Trust 0.78% 0.88%
Mid Value Trust 0.98% 1.30%

BETWEEN $50
FIRST $50 MILLION AND EXCESS OVER
PORTFOLIO MILLION* $500 MILLION* $500 MILLION*
- ------------------------ --------- ------------- -------------

Financial Services Trust 0.85% 0.80% 0.75%

*as a percentage of average annual net assets.

If such advisory fee waiver were reflected, it is estimated that the advisory
fees ("Management Fees") and "Total Annual Expenses" would have been as follows:

MANAGEMENT TOTAL ANNUAL
PORTFOLIO FEES EXPENSES
- ------------------------ ---------- ------------

Financial Services Trust 0.83% 0.91%

EXAMPLES

The examples below 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 expenses, contract fees, separate
account annual expenses and Fund fees and expenses.

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 contract 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
------ ------- ------- --------

If you surrender the contract at the end of the
applicable time period: $1,002 $ 1,758 $ 2,442 $ 3,928
If you annuitize, or do not surrender the contract
at the end of the applicable time period: $ 372 $ 1,130 $ 1,906 $ 3,928

Revolution Extra - minimum fund-level total operating expenses

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

If you surrender the contract at the end of the
applicable time period: $ 810 $ 1,184 $ 1,493 $ 2,088
If you annuitize, or do not surrender the contract
at the end of the applicable time period: $ 180 $ 558 $ 961 $ 2,088

BASIC INFORMATION

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 $10,000 initial premium payment to purchase a
contract. If you plan to purchase your contract under any of the tax-qualified
plans shown on page 34 or if you purchase your contract through the automatic
investment program, 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.

ALLOCATION OF PREMIUM PAYMENTS

LIMITS ON PREMIUM PAYMENTS

The total of all new premium payments and transfers that you may 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
IF YOUR CONTRACT IS USED TO FUND AFTER THE ANNUITANT REACHES AGE
- -------------------------------------------------- -------------------------------------

a "tax qualified plan" (1) 70 -1/2 (2)
a non-tax qualified plan 85

(1) as that term is used in "Tax Information," beginning on page 32.

(2) except for a Roth IRA, which has no age 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" and sent to the Annuity Service
Office.

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 BY WIRE

- issue a contract;

- accept premium payments; or

- allow other transactions.

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.

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,

- 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 expect to make a profit from the contracts and 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 29, 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.

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 Annuity Service 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.

TRANSFERS AMONG INVESTMENT OPTIONS

to the above-mentioned maximum of 18 variable investment options. You may not
make any transfers during the annuity period, however, to or from a fixed
annuity payment option.

We have adopted a policy and procedures to restrict frequent transfers of
contract value among variable investment options. Variable investment options in
variable annuity and variable life insurance products can be a prime target for
abusive transfer activity because these products value their variable investment
options on a daily basis and allow transfers among variable investment options
without immediate tax consequences. As a result, some investors may seek to
frequently transfer into and out of variable investment options in reaction to
market news or to exploit some perceived pricing inefficiency. Whatever the
reason, long-term investors in a variable investment option can be harmed by
frequent transfer activity since such activity may expose the variable
investment option's underlying Fund to increased portfolio transaction costs
and/or disruption to the fund manager's ability to effectively manage the Fund's
investment portfolio in accordance with the Fund's investment objective and
policies, both of which may result in dilution with respect to interests held
for long-term investment.

To discourage disruptive frequent trading activity, we have adopted a policy for
the Account to restrict transfers to two per calendar month per contract, with
certain exceptions, and procedures to count the number of transfers made under a
contract. Under the current procedures of the Account, we count all transfers
made during the period from the opening of trading each day the net asset value
of the shares of a Fund are determined (usually 9 a.m.) to the close of trading
that day (the close of day-time trading of the New York Stock Exchange (usually
4 p.m.) as a SINGLE transfer. We do NOT count: (a) scheduled transfers made
pursuant to our Dollar Cost Averaging program or our Strategic Rebalancing
Program, (b) transfers from a fixed account option at the end of its guarantee
period, (c) transfers made within a prescribed period before and after a
substitution of underlying Funds and (d) transfers made during the annuity
period (these transfers are subject to a 30 day notice requirement, however, as
described in the "Transfers during the annuity period" section of this
Prospectus). Under the Account's policy and procedures, Contract owners may
transfer to a Money Market investment option even if the two transfer per month
limit has been reached if 100% of the contract value in all variable investment
options is transferred to that Money Market investment option. If such a
transfer to a Money Market investment option is made, for a 30 calendar day
period after such transfer, no subsequent transfers from that Money Market
investment option to another variable investment option may be made. We apply
the Account's policy and procedures uniformly to all contract owners.

We reserve the right to take other actions at any time to restrict trading,
including, but not limited to:

- restricting the number of transfers made during a defined period,

- restricting the dollar amount of transfers,

- restricting the method used to submit transfers (e.g., changing
telephone and facsimile procedures to require that transfer requests
be submitted in writing via U.S. mail), and

- restricting transfers into and out of certain subaccounts.

While we seek to identify and prevent disruptive frequent trading activity, it
may not always be possible to do so. Therefore, no assurance can be given that
the restrictions we impose will be successful in preventing disruptive frequent
trading activity and avoid harm to long-term investors.

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 Annuity Service Office.

TELEPHONE AND FACSIMILE TRANSACTIONS

If you complete a special authorization form, you can request transfers among
investment options and changes of allocation among investment options simply by
telephoning or by faxing us at the Annuity Service Office. Any fax request
should include your name, daytime telephone number, contract number and, in the
case of transfers and changes of allocation, the names of the investment options
involved. We will honor telephone instructions from anyone who provides the
correct identifying information, so there is a risk of loss to you if this
service is used by an unauthorized person. However, you will receive written
confirmation of all telephone transactions. There is also a risk that you will
be unable to place your request due to equipment malfunction or heavy phone line
usage. If this occurs, you should submit your request in writing.

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 can be elected by sending the appropriate form to our Annuity
Service 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?

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 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

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. 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 chargefree
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 C 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 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 Annuity Service Office.

Certain surrenders and withdrawals may result in taxable income to you or other
tax consequences as described under "Tax information," beginning on page 32.
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 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.
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 32 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.

Telephone Withdrawals

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.

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

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

- the 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

- 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 any extra credits),
less any partial withdrawals.

OPTIONAL DEATH BENEFITS

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 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 31).

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

Under this benefit, we will pay the greatest of:

- the standard death benefit,

- the amount of each premium you have paid (but not including any
extra 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

- 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 benefits on page
32 before selecting this optional benefit.

EARNINGS ENHANCEMENT DEATH BENEFIT

(not available for contracts issued to tax-qualified plans)

Under this benefit, 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 benefit. In certain marketing materials, this benefit may
be referred to as the "Beneficiary Tax Relief" benefit because any amounts paid
under this benefit can be used to cover taxes that may be due on death benefit
proceeds under your contract. Amounts paid under this benefit, 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 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 benefit, 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.

WHAT OTHER OPTIONAL BENEFITS CAN I PURCHASE UNDER A CONTRACT?

In addition to the enhanced death benefit and waiver of withdrawal charge
benefits discussed above, we currently make available one other optional
benefit. You may elect this benefit:

- only if your state permits;

- only when you apply for a contract; and

- only if you are under age 75 when you apply for a contract.

ACCUMULATED VALUE ENHANCEMENT BENEFIT

Under this benefit, 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.

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 32 before selecting this optional benefit rider.

CONTRACTS ISSUED BEFORE MAY 1, 2004 MAY HAVE BEEN ISSUED WITH THE FOLLOWING
OPTIONAL BENEFIT RIDER:

GUARANTEED RETIREMENT INCOME BENEFIT

Under this benefit, 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.

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 Annuity Service Office

- 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?

WHAT ARE THE TERMS OF THE ADDITIONAL GUARANTEE?

DESCRIPTION OF JHVLICO

We are a wholly-owned subsidiary of John Hancock Life Insurance Company
("JHLICO"), 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,
JHLICO became a subsidiary of John Hancock Financial Services, Inc., a newly
formed publicly-traded corporation. In April 2004, John Hancock Financial
Services, Inc. was merged with a subsidiary of Manulife Financial Corporation, a
publicly-traded corporation organized under the laws of Canada. The merger was
effected pursuant to an Agreement and Plan of Merger dated as of September 28,
2003. As a consequence of the merger, JHLICO's ultimate parent is now Manulife
Financial Corporation. JHLICO's home office is at John Hancock Place, Boston,
Massachusetts 02117. As of December 31, 2004, JHLICO's assets were approximately
$100 billion and it had invested approximately $1.9 billion 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. JHLICO is committed to make additional capital contributions
if necessary to ensure that we maintain a positive net worth.

FINDING 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, 2004;

HOW WE SUPPORT THE VARIABLE INVESTMENT OPTIONS

We hold the Fund shares that support our variable investment options in
Sub-Accounts of the 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 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.

INFORMATION ABOUT THE FUNDS.

We may receive compensation from Funds or the investment advisers of the Funds
for services related to the portfolios. Such compensation will be consistent
with the services related to the portfolios. Such compensation will be
consistent with the services rendered or the cost savings resulting from the
arrangement.

We invest the assets of each Sub-Account in NAV shares of a corresponding Fund
of the Series Fund. The Funds available under the contracts are as follows:

PORTFOLIO PORTFOLIO MANAGER INVESTMENT DESCRIPTION
- -------------------------- ---------------------- ---------------------------------------------------------

Declaration
Management & Research
LLC

ACTIVE BOND TRUST Declaration seek income and capital appreciation by investing at
Management & Research least 80% of its assets in a diversified mix of debt
LLC securities and instruments.

John Hancock
Advisers, LLC

SHORT-TERM BOND TRUST Declaration Seeks income and capital appreciation by investing at
Management & Research least 80% of its assets in a diversified mix of debt
LLC securities and instruments.

DESCRIPTION OF CHARGES AT THE FUND LEVEL

The funds must pay investment management fees and other operating expenses.
These fees and expenses, as shown in the fund expense table in the Fee Tables,
are different for each fund and reduce the investment return of each fund.
Therefore, they also indirectly reduce the return you will earn on any variable
investment options you select. The Series Fund receives investment advisory
services from John Hancock Investment Services, LLC ("JHIS") and pays it
management fees. JHIS pays a portion of these fees to the Funds' managers. We
may also receive payments from a fund or its affiliates at an annual rate of up
to approximately 0.35% of

the average net assets that holders of our variable life insurance policies and
variable annuity contracts have invested in that fund. Any such payments do not,
however, result in any charge to you in addition to what is shown in the table.

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.

You must notify us of any such election, by mailing a request to us at the
Annuity Service 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.

GUARANTEED INTEREST RATES

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 B.

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

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

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 Annuity Service 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 34.)

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.

Transfers during the annuity period Some transfers are permitted during the
annuity period, but subject to different limitations than during the
accumulation period. Once annuity payments on a variable basis have begun, you
may transfer all or part of the investment upon which those payments are based
from one sub-account to another. You must submit your transfer request to our
annuity service office at least 30 days before the due date of the first annuity
payment to which your transfer will apply. Transfers after the maturity date
will be made by converting the number of annuity units being transferred to the
number of annuity units of the sub-account to which the transfer is made, so
that the next annuity payment if it were made at that time would be the same
amount that it would have been without the transfer. Thereafter, annuity benefit
payments will reflect changes in the value of the annuity units for the new
sub-account selected. We limit the maximum number of transfers a contract owner
may make per contract year, subject to a limit of 4 investment options being
used at once. Once annuity benefit payments begin, no transfers may be made from
payments on a fixed basis to payments on a variable basis or from payments on a
variable basis to payments on a fixed basis. In addition, we reserve the right
to defer the transfer privilege at any time that we are unable to purchase or
redeem shares of a fund. We also reserve the right to modify or terminate the
transfer privilege at any time in accordance with applicable law.

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.

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

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 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.

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
Annuity Service 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 Annuity Service 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.

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 34.

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.

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

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 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

ANNUITY PAYMENTS

SURRENDERS, WITHDRAWALS AND DEATH BENEFITS

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).

SPECIAL CONSIDERATIONS FOR PUERTO RICO ANNUITY CONTRACTS

Distributions from Puerto Rico annuity contracts issued by us are subject to
federal income taxation, withholding and reporting requirements as well as
Puerto Rico tax laws. Both jurisdictions impose a tax on distributions. Under
federal requirements, distributions are deemed to be income first. Under the
Puerto Rico tax laws, however, distributions from a contract not purchased to
fund a tax qualified plan ("Non-Qualified Contract") are treated as a
non-taxable return of principal until the principal is fully recovered.
Thereafter, all distributions under a Non-Qualified Contact are fully taxable.
Puerto Rico does not currently impose an early withdrawal penalty tax. The
Internal Revenue Code, however, does impose such a penalty and bases it on the
amount that is taxable under federal rules.

DIVERSIFICATION REQUIREMENTS

CONTRACTS PURCHASED FOR A TAX QUALIFIED PLAN

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

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."

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

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

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)

"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

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

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,

- 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.

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, 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 Fund.

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 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 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.

DISTRIBUTION OF CONTRACTS

Signator representatives may receive additional cash or non-cash incentives
(including expenses for conference or seminar trips and certain gifts) in
connection with the sale of contracts issued by JHVLICO. From time to time,
Signator, at its expense, may also provide significant additional amounts to
broker dealers or other 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 events or activities sponsored by the financial services
firms. As a consequence of such additional compensation, representatives and
financial services firms, including but not limited to Signator and its
representatives, may be motivated to sell our contracts instead of contracts
issued by other insurance companies.

EXPERTS

APPENDIX A: 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.......................................... 13
Annuity period............................................ 13
Business day.............................................. 10
Contract year............................................. 11
Date of issue............................................. 11
Date of maturity.......................................... 29
Extra Credits............................................. 13
Free withdrawal amount.................................... 17
Funds..................................................... 2
Guarantee period.......................................... 12
Investment options........................................ 14
Market value adjustment................................... 12
Premium payments.......................................... 10
Surrender................................................. 16
Surrender value........................................... 17
Total value of your contract.............................. 12
Variable investment options.............................. cover
Withdrawal charge........................................ 16
Withdrawal................................................ 16

APPENDIX B: 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/1 + c + 0.005)(n/12)-1

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 transferrd $10,000
Guarantee peried 5 Years
Time of withdrawal or transfer begining of 3rd year of guaranteed period
Guaranteed rate*(g) 4%
Guaranteed rate for new 3 year guarantee*(c) 3%
Remaining guarantee period(n) 36 months

MARKET VALUE ADJUSTMENT:

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

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

MARKET VALUE ADJUSTMENT:

10,000x[(1 + 0.04/1 + 0.05 + 0.005)(36/12) - 1] = -420.50

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 C: 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, $4,464 from your 2001 premium payment under paragraph 2,
and $930 from your 2003 premium payment under paragraph 3. Therefore, $906
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 initial 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 = .93x
$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 D: Examples of Earnings Enhancement Death Benefit Calculation

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 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.

APPENDIX U: ACCUMULATION UNIT VALUE TABLES

CONDENSED FINANCIAL INFORMATION

JOHN HANCOCK VARIABLE ANNUITY ACCOUNT JF

EQUITY INDEX
Accumulation Share Value:
Beginning of period............................................ $ 17.10 $ 13.49 $ 17.58 $ 20.22 $ 22.54 $ 10.00
End of period.................................................. $ 18.70 $ 17.10 $ 13.49 $ 17.58 $ 20.22 $ 22.54
Number of Accumulation Shares outstanding at end of period...... 171,065 164,996 154,223 804,600 507,320 76,098
LARGE CAP VALUE
Accumulation Share Value:
Beginning of period (Note 3)................................... $ 12.08 $ 9.75 $ 11.38 $ 10.00 -- --
End of period.................................................. $ 13.72 $ 12.08 $ 9.75 $ 11.38 -- --
Number of Accumulation Shares outstanding at end of period...... 209,987 155,358 97,450 334,667 -- --
FUNDAMENTAL VALUE B (formerly "Large Cap Value CORE(SM)")
(Effective November 1, 2004, merged into "Fundamental Value")
Accumulation Share Value:
Beginning of period............................................ $ 10.35 $ 8.13 $ 10.07 $ 10.71 $ 10.31 $ 10.00
End of period.................................................. $ 11.08 $ 10.35 $ 8.13 $ 10.07 $ 10.71 $ 10.31
Number of Accumulation Shares outstanding at end of period...... -- 204,107 195,857 1,056,790 520,128 92,493
LARGE CAP GROWTH
Accumulation Share Value:
Beginning of period (Note 3)................................... $ 7.19 $ 5.79 $ 8.13 $ 10.00 -- --
End of period.................................................. $ 7.41 $ 7.19 $ 5.79 $ 8.13 -- --
Number of Accumulation Shares outstanding at end of period...... 489,849 128,549 20,683 77,662 -- --
LARGE CAP GROWTH B (formerly "Large Cap Aggressive Growth")
(Effective November 1, 2004, merged into "Large Cap Growth")
Accumulation Share Value:
Beginning of period............................................ $ 7.13 $ 5.48 $ 8.09 $ 9.60 $ 11.97 $ 10.00
End of period.................................................. $ 6.81 $ 7.13 $ 5.48 $ 8.09 $ 9.60 $ 11.97
Number of Accumulation Shares outstanding at end of period...... -- 294,010 322,673 1,205,414 1,040,129 178,388
GROWTH & INCOME
Accumulation Share Value:
Beginning of period (Note 2)................................... $ 6.95 $ 5.66 $ 7.36 $ 8.82 $ 10.00 --
End of period.................................................. $ 7.61 $ 6.95 $ 5.66 $ 7.36 $ 8.82 --
Number of Accumulation Shares outstanding at end of period...... 747,950 802,120 416,961 1,817,947 12,749 --
FUNDAMENTAL VALUE
Accumulation Share Value:
Beginning of period............................................ $ 11.12 $ 8.75 $ 10.73 $ 11.68 $ 10.43 $ 10.00
End of period.................................................. $ 12.70 $ 11.12 $ 8.75 $ 10.73 $ 11.68 $ 10.43
Number of Accumulation Shares outstanding at end of period...... 371,180 210,263 177,846 802,605 347,760 64,904

EARNINGS GROWTH
Accumulation Share Value:
Beginning of period (Note 1)................................... $ 3.65 $ 2.96 $ 4.43 $ 7.11 $ 10.00 --
End of period.................................................. $ 3.70 $ 3.65 $ 2.96 $ 4.43 $ 7.11 --
Number of Accumulation Shares outstanding at end of period...... 174,391 227,056 239,167 1,636,323 629,910 --
FUNDAMENTAL GROWTH
(Effective November 1, 2004, merged into "Large Cap Growth")
Accumulation Share Value:
Beginning of period............................................ $ 8.84 $ 2.96 $ 9.86 $ 14.74 $ 15.39 $ 10.00
End of period.................................................. $ 4.43 $ 8.84 $ 2.96 $ 9.86 $ 14.74 $ 15.39
Number of Accumulation Shares outstanding at end of period...... -- 135,376 123,943 589,572 525,081 38,912
MID CAP VALUE B (formerly "Small/Mid Cap CORE(SM)")
Accumulation Share Value:
Beginning of period............................................ $ 15.68 $ 10.94 $ 13.06 $ 13.16 $ 12.73 $ 11.00
End of period.................................................. $ 18.39 $ 15.68 $ 10.94 $ 13.06 $ 13.16 $ 12.73
Number of Accumulation Shares outstanding at end of period...... 128,593 70,945 67,848 220,092 114,891 9,532
MID CAP GROWTH (Formerly "Small/Mid Cap Growth")
Accumulation Share Value:
Beginning of period............................................ $ 23.49 $ 16.19 $ 20.79 $ 20.47 $ 18.98 $ 18.07
End of period.................................................. $ 25.90 $ 23.49 $ 16.19 $ 20.79 $ 20.47 $ 18.98
Number of Accumulation Shares outstanding at end of period...... 65,986 67,961 57,788 242,085 136,439 14,779
SMALL CAP EMERGING GROWTH
Accumulation Share Value:
Beginning of period (Note 2)................................... $ 8.23 $ 5.60 $ 7.90 $ 8.30 $ 10.00 --
End of period.................................................. $ 1.90 $ 8.23 $ 5.60 $ 7.90 $ 8.30 --
Number of Accumulation Shares outstanding at end of period...... 200,297 28,761 30,007 79,406 535 --
SMALL CAP VALUE
Accumulation Share Value:
Beginning of period............................................ $ 20.54 $ 15.07 $ 16.31 $ 13.87 $ 10.46 $ 10.00
End of period.................................................. $ 25.43 $ 20.54 $ 15.07 $ 16.31 $ 13.87 $ 10.46
Number of Accumulation Shares outstanding at end of period...... 123,938 137,936 128,046 546,648 241,338 --
SMALL CAP GROWTH
(Effective November 1, 2004, merged into "Small Cap Emerging
Growth")
Accumulation Share Value:
Beginning of period............................................ $ 12.39 $ 9.81 $ 14.19 $ 16.44 $ 21.19 $ 14.27
End of period.................................................. $ 12.27 $ 12.39 $ 9.81 $ 14.19 $ 16.44 $ 21.19
Number of Accumulation Shares outstanding at end of period...... -- 143,040 134,266 715,728 608,753 59,529
AIM V.I. PREMIER EQUITY
Accumulation Share Value:
Beginning of period............................................ $ 7.29 $ 5.90 $ 8.57 $ 9.92 $ 11.77 $ 10.00
End of period.................................................. $ 7.62 $ 7.29 $ 5.90 $ 8.57 $ 9.92 $ 11.77
Number of Accumulation Shares outstanding at end of period...... 675,995 791,576 646,051 3,090,645 2,548,369 302,772
AIM V.I. CAPITAL DEVELOPMENT - SERIES II CLASS
Accumulation Share Value:
Beginning of period (Note 4)................................... $ 9.93 $ 7.45 $ 10.00 -- -- --
End of period.................................................. $ 11.31 $ 9.93 $ 7.45 -- -- --

Number of Accumulation Shares outstanding at end of period...... 4,632 4,066 -- -- -- --

FIDELITY VIP CONTRAFUND(R) - SERVICE CLASS
Accumulation Share Value:
Beginning of period............................................ $ 10.49 $ 8.28 $ 9.25 $ 10.69 $ 11.61 $ 10.00
End of period.................................................. $ 11.95 $ 10.49 $ 8.28 $ 9.25 $ 10.69 $ 11.61
Number of Accumulation Shares outstanding at end of period...... 371,068 386,807 377,519 1,645,859 1,447,471 237,990
FIDELITY VIP GROWTH
Accumulation Share Value:
Beginning of period............................................ $ 7.76 $ 5.92 $ 8.59 $ 10.57 $ 12.04 $ 10.00
End of period.................................................. $ 7.92 $ 7.76 $ 5.92 $ 8.59 $ 10.57 $ 12.04
Number of Accumulation Shares outstanding at end of period...... 400,455 480,716 507,521 2,501,361 1,875,307 205,097
MFS INVESTORS GROWTH STOCK - INITIAL CLASS
Accumulation Share Value:
Beginning of period............................................ $ 7.46 $ 6.14 $ 8.58 $ 11.45 $ 12.36 $ 10.00
End of period.................................................. $ 8.05 $ 7.46 $ 6.14 $ 8.58 $ 11.45 $ 12.36
Number of Accumulation Shares outstanding at end of period...... 253,985 281,892 331,636 1,280,675 971,077 158,192
MFS RESEARCH - INITIAL CLASS
Accumulation Share Value:
Beginning of period............................................ $ 7.95 $ 6.46 $ 8.67 $ 11.14 $ 11.86 $ 10.00
End of period.................................................. $ 9.10 $ 7.95 $ 6.46 $ 8.67 $ 11.14 $ 11.86
Number of Accumulation Shares outstanding at end of period...... 160,507 183,241 177,806 970,571 672,010 73,452
INTERNATIONAL EQUITY INDEX
Accumulation Share Value:
Beginning of period (Note 4)................................... $ 9.49 $ 6.77 $ 10.00 -- -- --
End of period.................................................. $ 11.27 $ 9.49 $ 6.77 -- -- --
Number of Accumulation Shares outstanding at end of period...... 100,560 101,328 4,383 -- -- --
OVERSEAS EQUITY B (formerly "International Opportunities")
Accumulation Share Value:
Beginning of period (Note 3)................................... $ 8.79 $ 6.72 $ 8.33 $ 10.00 -- --
End of period.................................................. $ 9.64 $ 8.79 $ 6.72 $ 8.33 -- --
Number of Accumulation Shares outstanding at end of period...... 262,113 137,661 75,514 20,457 -- --
OVERSEAS EQUITY
(Effective November 1, 2004, merged into "Overseas Equity B
(formerly "International Opportunities")")
Accumulation Share Value:
Beginning of period............................................ $ 13.75 $ 9.96 $ 10.76 $ 11.65 $ 12.98 $ 12.24
End of period.................................................. $ 14.08 $ 13.75 $ 9.96 $ 10.76 $ 11.65 $ 12.98
Number of Accumulation Shares outstanding at end of period...... -- 41,367 28,672 128,318 63,735 5,361
FIDELITY VIP OVERSEAS - SERVICE CLASS
Accumulation Share Value:
Beginning of period............................................ $ 8.62 $ 6.10 $ 7.73 $ 9.97 $ 12.48 $ 10.00
End of period.................................................. $ 9.66 $ 8.62 $ 6.10 $ 7.73 $ 9.97 $ 12.48
Number of Accumulation Shares outstanding at end of period...... 165,213 170,854 193,599 960,931 1,107,608 30,517

OVERSEAS EQUITY C (formerly "Emerging Markets Equity")
(Effective November 1, 2004, merged into "Overseas Equity B
(formerly "International Opportunities")")
Accumulation Share Value:
Beginning of period (Note 3)................................... $ 14.06 $ 9.07 $ 9.85 $ 10.00 -- --
End of period.................................................. $ 15.37 $ 14.06 $ 9.07 $ 9.85 -- --
Number of Accumulation Shares outstanding at end of period...... -- 20,573 7,320 7,941 -- --
JANUS ASPEN WORLDWIDE GROWTH - SERVICE SHARES CLASS
Accumulation Share Value:
Beginning of period (Note 2)................................... $ 6.19 $ 5.07 $ 6.90 $ 9.03 $ 10.00 --
End of period.................................................. $ 6.39 $ 6.19 $ 5.07 $ 6.90 $ 9.03 --
Number of Accumulation Shares outstanding at end of period...... 52,533 53,367 51,239 322,018 128,709 --
REAL ESTATE EQUITY
Accumulation Share Value:
Beginning of period (Note 2)................................... $ 15.47 $ 11.44 $ 11.43 $ 10.95 $ 10.00 --
End of period.................................................. $ 20.85 $ 15.47 $ 11.44 $ 11.43 $ 10.95 --
Number of Accumulation Shares outstanding at end of period...... 88,926 86,358 68,106 138,332 1,766 --
HEALTH SCIENCES
Accumulation Share Value:
Beginning of period (Note 3)................................... $ 10.00 $ 7.69 $ 9.73 $ 10.00 -- --
End of period.................................................. $ 10.98 $ 10.00 $ 7.69 $ 9.73 -- --
Number of Accumulation Shares outstanding at end of period...... 65,016 60,627 33,411 100,786 -- --
FINANCIAL INDUSTRIES (NOTE 5)
Accumulation Share Value:
Beginning of period............................................ $ 14.43 $ 11.60 $ 14.58 $ 17.90 $ 14.25 $ 10.00
End of period.................................................. $ 15.49 $ 14.43 $ 11.60 $ 14.58 $ 17.90 $ 14.25
Number of Accumulation Shares outstanding at end of period...... 126,349 132,174 145,392 855,100 642,376 113,876
MANAGED
Accumulation Share Value:
Beginning of period (Note 2)................................... $ 9.41 $ 8.00 $ 9.34 $ 9.73 $ 10.00 --
End of period.................................................. $ 10.05 $ 9.41 $ 8.00 $ 9.34 $ 9.73 --
Number of Accumulation Shares outstanding at end of period...... 166,993 185,973 154,757 868,814 89 --
SHORT TERM BOND
Accumulation Share Value:
Beginning of period............................................ $ 15.04 $ 14.82 $ 14.20 $ 13.30 $ 12.48 $ 12.34
End of period.................................................. $ 15.07 $ 15.04 $ 14.82 $ 14.20 $ 13.30 $ 12.48
Number of Accumulation Shares outstanding at end of period...... 162,310 185,025 158,441 440,240 126,421 15,433
BOND INDEX
Accumulation Share Value:
Beginning of period............................................ $ 12.57 $ 12.28 $ 11.31 $ 10.63 $ 9.63 $ 9.65
End of period.................................................. $ 12.91 $ 12.57 $ 12.28 $ 11.31 $ 10.63 $ 9.63
Number of Accumulation Shares outstanding at end of period...... 176,431 215,193 232,070 833,929 327,502 47,232
ACTIVE BOND
Accumulation Share Value:
Beginning of period (Note 3)................................... $ 11.57 $ 11.00 $ 10.39 $ 10.00 -- --
End of period.................................................. $ 11.97 $ 11.57 $ 11.00 $ 10.39 -- --
Number of Accumulation Shares outstanding at end of period...... 508,142 561,305 391,520 1,154,989 -- --

HIGH YIELD BOND
Accumulation Share Value:
Beginning of period............................................ $ 9.90 $ 8.60 $ 9.12 $ 9.04 $ 10.27 $ 10.00
End of period.................................................. $ 10.57 $ 9.90 $ 8.60 $ 9.12 $ 9.04 $ 10.27
Number of Accumulation Shares outstanding at end of period...... 238,160 234,126 149,911 644,021 333,028 48,898
GLOBAL BOND
Accumulation Share Value:
Beginning of period (Note 2)................................... $ 13.85 $ 12.10 $ 10.31 $ 10.60 $ 10.00 --
End of period.................................................. $ 15.13 $ 13.85 $ 12.10 $ 10.31 $ 10.60 --
Number of Accumulation Shares outstanding at end of period...... 76,355 87,529 39,131 71,857 -- --
MONEY MARKET
Accumulation Share Value:
Beginning of period (Note 3)................................... $ 10.12 $ 10.15 $ 10.12 $ 10.00 -- --
End of period.................................................. $ 10.10 $ 10.12 $ 10.15 $ 10.12 -- --
Number of Accumulation Shares outstanding at end of period...... 549,370 837,553 1,371,649 4,289,180 -- --
MID CAP VALUE
(Effective November 1, 2004, merged into "Mid Cap Value B
(formerly "Small/Mid Cap CORE(SM)")")
Accumulation Share Value:
Beginning of period (Note 3)................................... $ 13.56 $ 10.00 -- -- -- --
End of period.................................................. $ 14.77 $ 13.56 -- -- -- --
Number of Accumulation Shares outstanding at end of period...... -- 32,051 -- -- -- --
TOTAL RETURN
Accumulation Share Value:
Beginning of period (Note 3)................................... $ 10.11 $ 10.00 -- -- -- --
End of period.................................................. $ 10.46 $ 10.11 -- -- -- --
Number of Accumulation Shares outstanding at end of period...... 44,923 61,613 -- -- -- --
MFS NEW DISCOVERY SERIES
Accumulation Share Value:
Beginning of period (Note 3)................................... $ 12.35 $ 9.35 $ 13.85 $ 14.77 $ 15.26 $ 10.00
End of period.................................................. $ 12.99 $ 12.35 $ 9.35 $ 13.85 $ 14.77 $ 15.26
Number of Accumulation Shares outstanding at end of period...... 103,634 117,145 144,140 533,377 431,090 36,557
JANUS ASPEN GLOBAL TECHNOLOGY
Accumulation Share Value:
Beginning of period (Note 3)................................... $ 13.67 $ 10.00 -- -- -- --
End of period.................................................. $ 13.58 $ 13.67 -- -- -- --
Number of Accumulation Shares outstanding at end of period...... 4,092 2,704 -- -- -- --

- ---------------------
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.

ANNUITY SERVICE OFFICE MAILING ADDRESS
601 Congress Street Post Office Box 55106
Boston, Massachusetts 02210-2805 Boston, Massachusetts 02205- 5106
(617) 663-3000 or (800) 824-0335

Prospectus dated May 2, 2005
for interests in

John Hancock Variable Annuity Account JF

Interests are made available under

REVOLUTION VALUE VARIABLE ANNUITY

a deferred combination fixed and variable annuity contract issued by

JOHN HANCOCK VARIABLE LIFE INSURANCE COMPANY

This 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:

* not available for contracts issued after April 30, 2003

TABLE OF CONTENTS

GUIDE TO THIS PROSPECTUS....................................................... 4
FEE TABLES..................................................................... 5
Examples..................................................................... 7
BASIC INFORMATION.............................................................. 8
What is the Contract?........................................................ 8
Who Owns the Contract?....................................................... 8
Is the Owner also the Annuitant?............................................. 8
How can I Invest Money in a Contract?........................................ 8
Premium Payments........................................................... 8
Allocation of Premium Payments............................................. 8
Limits on Premium Payments................................................. 9
Ways to Make Premium Payments.............................................. 9
Premium Payments by Wire................................................... 9
How will the Value of My Investment in the Contract Change Over Time?........ 9
What Annuity Benefits does the Contract Provide?............................. 10
To What Extent can JHVLICO Vary the Terms and Conditions of the Contracts?... 10
State Law Insurance Requirements........................................... 10
Variations in Charges or Rates............................................. 10
What are the Tax Consequences of Owning a Contract?.......................... 10
How Can I Change My Contract's Investment Allocations?....................... 11
Transfers Among Investment Options......................................... 11
Procedure for Transferring Your Assets..................................... 12
Telephone and Facsimile Transactions....................................... 12
Dollar-Cost Averaging ("DCA") Programs..................................... 12
Strategic Rebalancing...................................................... 13
WHAT FEES AND CHARGES WILL BE DEDUCTED FROM MY CONTRACT?..................... 13
Annual Contract Fee........................................................ 13
Asset-Based Charge......................................................... 14
Premium Taxes.............................................................. 14
Withdrawal Charge.......................................................... 14
Free Withdrawal Amounts.................................................... 14
Other Charges.............................................................. 15
HOW CAN I WITHDRAW MONEY FROM MY CONTRACT?................................... 15
Surrenders and Partial Withdrawals......................................... 15
Waiver of Withdrawal Charge Rider.......................................... 15
Systematic Withdrawal Plan................................................. 16
Telephone Withdrawals...................................................... 16
WHAT HAPPENS IF THE OWNER OR THE ANNUITANT DIES BEFORE MY CONTRACT'S DATE
OF MATURITY?................................................................. 16
Standard Death Benefit..................................................... 17
OPTIONAL DEATH BENEFITS...................................................... 17
Enhanced Death Benefit..................................................... 17
Earnings Enhancement Death Benefit......................................... 18
WHAT OTHER OPTIONS CAN I PURCHASE UNDER A CONTRACT?.......................... 18
Accumulated Value Enhancement.............................................. 18
Guaranteed Retirement Income Benefit....................................... 19
CAN I RETURN MY CONTRACT?.................................................... 20
WHAT ADDITIONAL GUARANTEE APPLIES TO THE GUARANTEE PERIODS UNDER MY
CONTRACT?.................................................................... 20
WHAT ARE THE TERMS OF THE ADDITIONAL GUARANTEE?.............................. 20
DESCRIPTION OF JHVLICO......................................................... 20
HOW TO FIND ADDITIONAL INFORMATION ABOUT JHVLICO AND JHFS...................... 21
HOW WE SUPPORT THE VARIABLE INVESTMENT OPTIONS................................. 21
Information about the funds................................................ 21
DESCRIPTION OF CHARGES AT THE FUND LEVEL....................................... 24
HOW WE SUPPORT THE GUARANTEE PERIODS........................................... 24
HOW THE GUARANTEE PERIODS WORK................................................. 25
Guaranteed Interest Rates.................................................. 25
Calculation of Market Value Adjustment ("MVA")............................. 25
THE ACCUMULATION PERIOD........................................................ 26
Your Value in Our Variable Investment Options.............................. 26
Valuation of Accumulation Units............................................ 26
Your Value in the Guarantee Periods........................................ 26
THE ANNUITY PERIOD............................................................. 26
Date of Maturity........................................................... 26
Choosing Fixed or Variable Annuity Payments................................ 27
Selecting an Annuity Option................................................ 27
Variable Monthly Annuity Payments.......................................... 27
Assumed Investment Rate.................................................... 27
Transfers during the annuity period........................................ 28
Fixed Monthly Annuity Payments............................................. 28
Annuity Options............................................................ 28
VARIABLE INVESTMENT OPTION VALUATION PROCEDURES................................ 29
DISTRIBUTIONS FOLLOWING DEATH OF OWNER......................................... 29
MISCELLANEOUS PROVISIONS....................................................... 30
Assignment; Change of Owner or Beneficiary................................. 30
Who Should Purchase A Contract?............................................ 30
TAX INFORMATION................................................................ 31
Our Income Taxes........................................................... 31
Special Considerations for Optional Benefit Riders......................... 31
Contracts Not Purchased to Fund a Tax Qualified Plan....................... 31
Undistributed Gains........................................................ 31
Annuity Payments........................................................... 31
Surrenders, Withdrawals and Death Benefits................................. 31
Penalty for Premature Withdrawals.......................................... 32
Special Considerations for Puerto Rico Annuity Contracts................... 32
Diversification Requirements............................................... 32
Contracts Purchased for a Tax Qualified Plan............................... 32
Tax-Free Rollovers......................................................... 33
Traditional IRAs........................................................... 33
Roth IRAs.................................................................. 34
SIMPLE IRA Plans........................................................... 34

Simplified Employee Pension Plans (SEPs)............................... 35
Section 403(b) plans.................................................. 35
Pension and Profit Sharing Plans Qualified Under Section 401(a)........ 35
"Top-Heavy" Plans...................................................... 35
Section 457 Deferred Compensation Plans................................ 36
Elective Deferral Limits............................................... 36
Elective Catch-Up Limits............................................... 36
Withholding on Rollover Distributions.................................. 36
Puerto Rico Annuity Contracts Purchased to Fund a Tax-Qualified Plan... 36
See Your Own Tax Adviser............................................... 37
PERFORMANCE INFORMATION.................................................... 37
REPORTS.................................................................... 37
VOTING PRIVILEGES.......................................................... 37
CERTAIN CHANGES............................................................ 37
Changes to the Account................................................. 38
Variations in Charges or Rates for Eligible Classes.................... 38
DISTRIBUTION OF CONTRACTS.................................................. 38
EXPERTS.................................................................... 39
APPENDIX A: INDEX OF KEY WORDS............................................. 40
APPENDIX B: DETAILS ABOUT OUR GUARANTEE PERIODS............................ 41
APPENDIX C: EXAMPLE OF WITHDRAWAL CHARGE CALCULATION....................... 43
APPENDIX D: EXAMPLES OF EARNINGS ENHANCEMENT DEATH BENEFIT CALCULATION..... 45
APPENDIX U: ACCUMULATION UNIT VALUE TABLES................................. 1

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............. 3
CALCULATION OF ANNUITY PAYMENTS........... 4
ADDITIONAL INFORMATION ABOUT DETERMINING
UNIT VALUES............................... 5
PURCHASES AND REDEMPTIONS OF FUND SHARES.. 6
THE ACCOUNT............................... 6
DELAY OF CERTAIN PAYMENTS................. 7
LIABILITY FOR TELEPHONE TRANSFERS......... 7
VOTING PRIVILEGES......................... 7
FINANCIAL STATEMENTS...................... 9

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.

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.

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 withdrawn or surrendered)(1) 7% for the first year
6% for the second year
5% for the third year
4% for the fourth year
3% for the fifth year
2% for the sixth year
1% for the seventh year
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.

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 (as a percentage of average 1.25%
account value)(5)

OPTIONAL BENEFIT RIDER CHARGES(6)

Waiver of Withdrawal Charge ("CARESolutions") Rider 0.10% of that portion of your contract's 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 Tax Relief") Death Benefit 0.25% of your contract's total value
Rider

Accumulated Value Enhancement 0.35% of your initial premium payment
("CARESolutions Plus") Rider(8)

Guaranteed Retirement Income Benefit Rider(9) 0.30% of your contract's total value

(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.

(6) Charges for optional benefit riders are assessed monthly. The monthly charge
is 1/12th 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.

(9) This rider is not available for contracts issued after April 30, 2004.

TOTAL ANNUAL PORTFOLIO OPERATING EXPENSES MINIMUM MAXIMUM
- --------------------------------------------------------------- ------- -------

Range of expenses that are deducted from fund assets, including 0.50% 1.16%
management fees, and other expenses

TOTAL
OTHER ANNUAL
PORTFOLIO MANAGEMENT FEES EXPENSES EXPENSES
- ------------------------------------------- --------------- -------- ----------

JOHN HANCOCK TRUST - NAV SHARES
Health Sciences Trust 1.05%(B) 0.11% 1.16%
Small Cap Growth Trust(A) 1.08% 0.07% 1.15%
Small Cap Index Trust 0.49% 0.03% 0.52%
Mid Cap Stock Trust 0.86% 0.05% 0.91%
Financial Services Trust 0.88%(C) 0.08% 0.96%
International Equity Index Trust B(A) + (D) 0.55% 0.04% 0.59%
Overseas Equity Trust(A) 1.05% 0.09% 1.14%
Mid Cap Index Trust 0.49% 0.03% 0.52%
Large Cap Growth Trust 0.85% 0.06% 0.91%
Total Stock Market Index Trust 0.49% 0.03% 0.52%
Blue Chip Growth Trust 0.82%(B) 0.04% 0.86%
Real Estate Securities Trust 0.70% 0.05% 0.75%
Small Cap Value Trust(A) 1.08% 0.08% 1.16%
Mid Value Trust (A) + 1.01%(B) 0.07% 1.08%
Growth & Income II Trust(A) + 0.68% 0.03% 0.71%
500 Index Trust B(A) + (D) 0.47% 0.03% 0.50%
Equity-Income Trust 0.81%(B) 0.05% 0.86%
Managed Trust (A) + 0.73% 0.04% 0.77%
High Yield Trust 0.68% 0.07% 0.75%
Global Bond Trust 0.70% 0.10% 0.80%
Total Return Trust 0.70% 0.05% 0.75%
Bond Index Trust B (A) + (D) 0.47% 0.03% 0.50%
Active Bond Trust (A) + 0.61% 0.04% 0.65%
Short-Term Bond Trust (A) + (D) 0.58% 0.05% 0.63%
Money Market Trust B (A) + 0.49% 0.04% 0.53%

+ Commencement of operations -- April 29, 2005

(A) Based on estimates for the current fiscal year

(B) The Adviser has voluntarily agreed to waive a portion of its advisory fee
for the Science & Technology Trust, Health Sciences Trust, the Blue Chip Growth
Trust the Equity-Income Trust, the Mid Value Trust, and the Small Company Value
Trust. The waiver is based on the combined assets of these portfolios. Once
these combined assets exceed specified amounts, the fee reduction is increased.

The fee reductions are applied to the advisory fees of each of the six
portfolios. This voluntary fee waiver may be terminated at any time by the
Adviser. If such advisory fee waiver were reflected, it is estimated that the
"Management Fees" and "Total Annual Expenses" for these portfolios would have
been as follows:

TOTAL ANNUAL
PORTFOLIO MANAGEMENT FEES EXPENSES
- -------------------------- --------------- ------------

Health Sciences Trust 1.02% 1.13%
Blue Chip Growth Trust 0.79% 0.83%
Equity-Income Trust 0.78% 0.88%
Mid Value Trust 0.98% 1.30%

BETWEEN $50
MILLION EXCESS OVER
FIRST $50 AND $500 $500
PORTFOLIO MILLION* MILLION* MILLION*
- ---------------------------------------------- --------- ----------- -----------

Financial Services Trust 0.85% 0.80% 0.75%

* as a percentage of average annual net assets.

If such advisory fee waiver were reflected, it is estimated that the advisory
fees ("Management Fees") and "Total Annual Expenses" would have been as follows:

TOTAL ANNUAL
PORTFOLIO MANAGEMENT FEES EXPENSES
- ------------------------ --------------- ------------

Financial Services Trust 0.83% 0.91%

(D)The Series Fund sells these portfolios only to certain variable life
insurance and variable annuity separate accounts of JHLICO and its affiliates.
Each portfolio is subject to an expense cap pursuant to an agreement between the
Series Fund and the Advisor. The fees in the table reflect such expense cap. The
expense cap is as follows: the Adviser has agreed to waive its advisory fee (or,
if necessary, reimburse expenses of the portfolio) in an amount so that the rate
of the portfolio's "Annual Operating Expenses" does not exceed the rate noted in
the table above under "Total Annual Expenses." A portfolio's annual operating
Expenses including advisory fees, but excludes, taxes, brokerage commissions,
interest, litigation and indemnification expenses and extraordinary expenses of
the portfolio not incurred in the ordinary course of the portfolio's business.
Under the Agreement, the Adviser's obligation to provide the expense cap with
respect to a particular portfolio terminates only if the Series Fund, without
the prior written consent of the Adviser, sells shares of the portfolio to (or
has shares of the portfolio held by) any person other than the variable life or
variable annuity insurance separate accounts of JHLICO or any of its affiliates
that are specified in the agreement.

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.

Revolution Value - maximum fund-level total operating expenses

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

If you surrender the contract at the end of the
applicable time period: $1,012 $1,607 $2,220 $4,013

If you annuitize, or do not surrender the contract
at the end of the applicable time period: $ 382 $1,158 $1,951 $4,013

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

If you surrender the contract at the end of the
applicable time period: $ 809 $ 1,003 $ 1,223 $ 2,080
If you annuitize, or do not surrender the contract
at the end of the applicable time period: $ 179 $ 556 $ 957 $ 2,080

BASIC INFORMATION

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 34 or if you purchase your contract through the automatic
investment program, 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.

ALLOCATION OF PREMIUM PAYMENTS

LIMITS ON PREMIUM PAYMENTS

The total of all new premium payments and transfers that you may 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
IF YOUR CONTRACT IS USED TO FUND AFTER THE ANNUITANT REACHES AGE
- -------------------------------- -------------------------------------

a "tax qualified plan"(1) 70-1/2 (2)
a non-tax qualified plan 85

(1) as that term is used in "Tax Information," beginning on page 32.

(2) except for a Roth IRA, which has no age 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" and sent to the Annuity Service
Center.

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 BY WIRE

- issue a contract;

- accept premium payments; or

- allow other transactions.

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

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?" below.

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?

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 THE 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.

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.

HOW CAN I CHANGE MY CONTRACT'S INVESTMENT ALLOCATIONS?

TRANSFERS AMONG INVESTMENT OPTIONS

We have adopted a policy and procedures to restrict frequent transfers of
contract value among variable investment options.

To disruptive discourage frequent trading activity, we have adopted a policy for
the Account to restrict transfers to two per month per contract, with certain
exceptions, and procedures to count the number of transfers made under a
contract. Under the current procedures of the Account, we count all transfers
made during the period from the opening of trading each day the net asset value
of the shares of a Fund are determined (usually 9 a.m.) to the close of trading
that day (the close of day-time trading of the New York Stock Exchange (usually
4 p.m.)) as a SINGLE transfer. We do NOT count: (a) scheduled transfers made
pursuant to any of our Dollar Cost Averaging programs or our Strategic
Rebalancing Program, (b) transfers from a fixed account option at the end of its
guarantee period, (c) transfers made within a prescribed period before and after
a substitution of underlying Funds and (d) transfers made during the annuity
period (these transfers are subject to a 30 day notice requirement, however, as
described in the "Transfers during the annuity period" section of this
Prospectus). Under the Account's policy and procedures, Contract owners may
transfer to a

Money Market investment option even if the two transfer per month limit has been
reached if 100% of the contract value is transferred to that Money Market
investment option. If such a transfer to a Money Market investment option is
made, for a 30 calendar day period after such transfer, no subsequent transfers
from that Money Market investment option to another variable investment option
may be made. We apply the Account's policy and procedures uniformly to all
contract owners.

We reserve the right to take other actions at any time to restrict trading,
including, but not limited to:

- restricting the number of transfers made during a defined period,

- restricting the dollar amount of transfers,

- restricting the method used to submit transfers (e.g., changing
telephone and facsimile procedures to require that transfer requests
be submitted in writing via U.S. mail), and

- restricting transfers into and out of certain subaccounts.

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 Service Office.

TELEPHONE AND FACSIMILE TRANSACTIONS

If you complete a special authorization form, you can request transfers among
investment options and changes of allocation among investment options simply by
telephoning or by faxing us at the John Hancock Annuity Service Office. Any fax
request should include your name, daytime telephone number, contract number and,
in the case of transfers and changes of allocation, the names of the investment
options involved. We will honor telephone instructions from anyone who provides
the correct identifying information, so there is a risk of loss to you if this
service is used by an unauthorized person. However, you will receive written
confirmation of all telephone transactions. There is also a risk that you will
be unable to place your request due to equipment malfunction or heavy phone line
usage. If this occurs, you should submit your request in writing.

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 a guarantee rate account that we call the
"DCA rate account." For contracts issued after April 30, 2004, your deposits
under this program will be depleted over a 6 month period. For contracts issued
prior to May 1, 2004, the assets in this account attributable to a new premium
payment will be transferred automatically to one or more variable investment
options over a period that is equal in

length (i.e., either 6 months or 12 months) to the period you initially
selected. A new period will begin on the date each new premium is deposited in
the DCA rate account program with respect to that premium. 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.

Transfers to the guarantee periods are not permitted under this program, and
transfers of your account value from a variable investment option are not
currently 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.)

Your participation in the dollar-cost averaging value program will end if you
request a partial withdrawal from the DCA rate account, or if you request a
transfer from the DCA rate 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
under this program.

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.

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

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 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

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. We use this charge to help defray expenses
relating 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.

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

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.

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

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.

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 32 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.

Telephone Withdrawals

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.

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

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

- the required instructions as to method of settlement.

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

any election. You can find more information about optional methods
of settlement under "Annuity options" on page 30.

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 BENEFITS

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 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

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

Under this benefit, 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 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 32 before selecting this optional benefit rider.

EARNINGS ENHANCEMENT DEATH BENEFIT

(not available for contracts issued to tax-qualified plans)

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.

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 OPTIONS 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 one other optional benefit. You may
elect this benefit:

- only if your state permits;

- only when you apply for a contract; and

- only if you are under age 75 when you apply for a contract.

ACCUMULATED VALUE ENHANCEMENT

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.

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 32 before selecting this optional benefit rider.

CONTRACTS ISSUED BEFORE MAY 1, 2004 MAY HAVE BEEN ISSUED WITH THE FOLLOWING
OPTIONAL BENEFIT RIDER:

GUARANTEED RETIREMENT INCOME BENEFIT

Under this benefit, 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.

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 that 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?

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, 2004;

HOW WE SUPPORT THE VARIABLE INVESTMENT OPTIONS

INFORMATION ABOUT THE FUNDS.

The funds available under the contracts are as follows:

PORTFOLIO PORTFOLIO MANAGER INVESTMENT DESCRIPTION
- --------- ----------------- ----------------------

HEALTH SCIENCES TRUST T. Rowe Price seeks long-term capital appreciation
Associates, Inc. by investing, under normal market
conditions, at least 80% of its net
assets (plus any borrowings for
investment purposes) in common stocks
of companies engaged in the research,
development, production, or
distribution of products or services
related to health care, medicine, or
the life sciences (collectively
termed "health sciences").

SMALL CAP GROWTH TRUST Wellington Seeks long-term capital appreciation
Management by investing, under normal market
Company, LLP conditions, primarily in small-cap
companies that are believed to offer
above average potential for growth in
revenues and earnings.

SMALL CAP INDEX TRUST MFC Global seeks to approximate the aggregate
Investment total return of a small cap U.S.
Management domestic equity market index by
(U.S.A.) Limited attempting to track the performance
of the Russell 2000 Index.

MID CAP STOCK TRUST Wellington seeks long-term growth of capital by
Management investing primarily in equity
Company, LLP securities of mid-size companies with
significant capital appreciation
potential.

FINANCIAL SERVICES Davis Advisors seeks growth of capital by investing
TRUST primarily in common stocks of
financial companies. During normal
market conditions, at least 80% of
the portfolio's net assets (plus any
borrowings for investment purposes)
are invested in companies that are
principally engaged in financial
services. A company is "principally
engaged" in financial services if it
owns financial services-related
assets constituting at least 50% of
the value of its total assets, or if
at least 50% of its revenues are
derived from its provision of
financial services.

INTERNATIONAL EQUITY SSgA Funds seeks to track the performance of a
INDEX TRUST B Management, Inc. broad-based equity index of foreign
companies primarily in developed
countries and, to a lesser extent, in
emerging market countries by
investing, under normal market
conditions, at least 80% of its
assets in securities listed in the
Morgan Stanley Capital International
All Country World Excluding U.S.
Index

OVERSEAS EQUITY TRUST Capital Guardian seeks long-term capital appreciation
Trust Company by investing, under normal market
conditions, at least 80% of its
assets in equity securities of
companies outside the U.S. in a
diversified mix of large established
and medium-sized foreign companies
located primarily in developed
countries and, to a lesser extent, in
emerging markets.

MID CAP INDEX TRUST MFC Global seeks to approximate the aggregate
Investment total return of a mid cap U.S.
Management domestic equity market index by
(U.S.A.) Limited attempting to track the performance
of the S&P Mid Cap 400 Index*.

LARGE CAP GROWTH TRUST Fidelity seeks long-term growth of capital by
Management & investing, under normal market
Research Company conditions, at least 80% of its net
assets (plus any borrowings for
investment purposes) in equity
securities of companies with large
market capitalizations.

TOTAL STOCK MARKET MFC Global seeks to approximate the aggregate
INDEX TRUST Investment total return of a broad U.S. domestic
Management equity market index by attempting to
(U.S.A.) Limited track the performance of the Wilshire
5000 Equity Index*

PORTFOLIO PORTFOLIO MANAGER INVESTMENT DESCRIPTION
- --------- ----------------- ----------------------

BLUE CHIP GROWTH TRUST T. Rowe Price seeks to achieve long-term growth of
Associates, Inc. capital (current income is a
secondary objective) by investing,
under normal market conditions, at
least 80% of the portfolio's total
assets in the common stocks of large
and medium-sized blue chip growth
companies. Many of the stocks in the
portfolio are expected to pay
dividends.

REAL ESTATE Deutsche Asset seeks to achieve a combination of
SECURITIES TRUST Management Inc. long-term capital appreciation and
current income by investing, under
normal market conditions, at least
80% of its net assets (plus any
borrowings for investment purposes)
in equity securities of real estate
investment trusts ("REITS") and real
estate companies.

SMALL CAP VALUE TRUST Wellington seeks long-term capital appreciation
Management by investing, under normal market
Company, LLP conditions, at least 80% of its
assets in small-cap companies that
are believed to be undervalued by
various measures and offer good
prospects for capital appreciation.

MID VALUE TRUST T. Rowe Price seek long-term capital appreciation
Associates, Inc. by investing, under normal market
conditions, primarily in a
diversified mix of common stocks of
mid size U.S. companies that are
believed to be undervalued by various
measures and offer good prospects for
capital appreciation.

GROWTH & Income II Independence seeks income and long-term capital
TRUST Investment LLC appreciation by investing, under
normal market conditions, primarily
in a diversified mix of common stocks
of large U.S. companies.

500 INDEX TRUST B MFC Global seeks to approximate the aggregate
Investment total return of a broad U.S. domestic
Management equity market index investing, under
(U.S.A.) Limited normal market conditions, at least
80% of its net assets (plus any
borrowings for investment purposes)
in (a) the common stocks that are
included in the S & P 500 Index and
(b) securities (which may or may not
be included in the S & P 500 Index)
that MFC Global (U.S.A.) believes as
a group will behave in a manner
similar to the index.

EQUITY-INCOME TRUST T. Rowe Price seeks to provide substantial dividend
Associates, Inc. income and also long-term capital
appreciation by investing primarily
in dividend-paying common stocks,
particularly of established companies
with favorable prospects for both
increasing dividends and capital
appreciation.

MANAGED TRUST Independence seeks income and long-term capital
Investment LLC appreciation by investing primarily
in a diversified mix of: (a) common
Capital Guardian stocks of large and mid sized U.S.
Trust Company companies, and (b) bonds with an
overall intermediate term average
Declaration maturity.
Management &
Research LLC

HIGH YIELD TRUST Saloman Brothers seeks to realize an above-average
Asset Management total return over a market cycle of
Inc three to five years, consistent with
reasonable risk, by investing
primarily in high yield debt
securities, including corporate bonds
and other fixed-income securities.

PORTFOLIO PORTFOLIO MANAGER INVESTMENT DESCRIPTION
- --------- ----------------- ----------------------

GLOBAL BOND TRUST Pacific seeks to realize maximum total
Investment return, consistent with preservation
Management of capital and prudent investment
Company management by investing the
portfolio's assets primarily in fixed
income securities denominated in
major foreign currencies, baskets of
foreign currencies (such as the ECU),
and the U.S. dollar.

TOTAL RETURN TRUST Pacific seeks to realize maximum total
Investment return, consistent with preservation
Management of capital and prudent investment
Company management by investing, under normal
market conditions, at least 65% of
the portfolio's assets in a
diversified portfolio of fixed income
securities of varying maturities. The
average portfolio duration will
normally vary within a three- to
six-year time frame based on the
subadviser's forecast for interest
rates.

BOND INDEX TRUST B Declaration seeks to track the performance of the
Management & Lehman Brothers Aggregate Index
Research (which represents the U.S. investment
grade bond market) by investing,
under normal market conditions, at
least 80% of its assets in securities
listed in the Lehman Index.

ACTIVE BOND TRUST Declaration seek income and capital appreciation
Management & by investing at least 80% of its
Research LLC assets in a diversified mix of debt
securities and instruments.
John Hancock
Advisers, LLC

SHORT-TERM BOND TRUST Declaration Seeks income and capital appreciation
Management & by investing at least 80% of its
Research LLC assets in a diversified mix of debt
securities and instruments.

MONEY MARKET TRUST B MFC Global Seeks to obtain maximum current
Investment income consistent with preservation
Management of principal and liquidity by
(U.S.A.) Limited investing in high quality, U.S.
Dollar denominated money market
instruments.

* "Standard & Poor's(R)," "S&P 500(R)," "Standard and Poor's 500(R)" and "S&P
Mid Cap 400(R)" are trademarks of The McGraw-Hill Companies, Inc. "Russell
2000(R)," "Russell 2000(R) Growth" and "Russell 3000(R)" are trademarks of Frank
Russell Company. "Wilshire 5000(R)" is a trademark of Wilshire Associates. "MSCI
All Country World ex USIndex" and "EAFE(R)" are trademarks of Morgan Stanley &
Co. Incorporated. None of the Index Trusts are sponsored, endorsed, managed,
advised, sold or promoted by any of these companies, and none of these companies
make any representation regarding the advisability of investing in the Trust.

DESCRIPTION OF CHARGES AT THE FUND LEVEL

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

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

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

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).

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.

TRANSFERS DURING THE ANNUITY PERIOD

Some transfers are permitted during the annuity period, but subject to different
limitations than during the accumulation period. Once annuity payments on a
variable basis have begun, you may transfer all or part of the investment upon
which those payments are based from one sub-account to another. You must submit
your transfer request to our Annuity Service Office at least 30 days before the
due date of the first annuity payment to which your transfer will apply.
Transfers after the maturity date will be made by converting the number of
annuity units being transferred to the number of annuity units of the
sub-account to which the transfer is made, so that the next annuity payment if
it were made at that time would be the same amount that it would have been
without the transfer. Thereafter, annuity benefit payments will reflect changes
in the value of the annuity units for the new sub-account selected. We limit the
maximum number of transfers a contract owner may make per contract year, subject
to a limit of 4 investment options being used at the same time. Once annuity
benefit payments begin, no transfers may be made from payments on a fixed basis
to payments on a variable basis or from payments on a variable basis to payments
on a fixed basis. In addition, we reserve the right to defer the transfer
privilege at any time that we are unable to purchase or redeem shares of a Fund.
We also reserve the right to modify or terminate the transfer privilege at any
time in accordance with applicable law.

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.

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

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) 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

- 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.

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.

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

CONTRACTS NOT PURCHASED TO FUND A TAX QUALIFIED PLAN

UNDISTRIBUTED GAINS

ANNUITY PAYMENTS

SURRENDERS, WITHDRAWALS AND DEATH BENEFITS

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.

PENALTY FOR PREMATURE WITHDRAWALS

SPECIAL CONSIDERATIONS FOR PUERTO RICO ANNUITY CONTRACTS

DIVERSIFICATION REQUIREMENTS

CONTRACTS PURCHASED FOR A TAX QUALIFIED PLAN

TAX-FREE ROLLOVERS

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."

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

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

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)

"TOP-HEAVY" PLANS

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.

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

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,

- the annual contract fee, and

- any withdrawal charge payable if the owner surrenders his contract
at the end of the relevant period.

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

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

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 events or
activities sponsored by the financial services firms. As a consequence of such
additional compensation, representatives and financial services firms, including
but not limited to Signator and its representatives, may be motivated to sell
our contracts instead of contracts issued by other insurance companies.

EXPERTS

APPENDIX A: 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....................................................................... 13
Annuity period......................................................................... 13
Business day........................................................................... 10
Contract year.......................................................................... 11
Date of issue.......................................................................... 11
Date of maturity....................................................................... 29
Extra Credits.......................................................................... 13
Free withdrawal amount................................................................. 17
Funds.................................................................................. 2
Guarantee period....................................................................... 12
Investment options..................................................................... 14
Market value adjustment................................................................ 12
Premium payments....................................................................... 10
Surrender.............................................................................. 16
Surrender value........................................................................ 17
Total value of your contract........................................................... 12
Variable investment options............................................................ cover
Withdrawal charge...................................................................... 16
Withdrawal............................................................................. 16

APPENDIX B : 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

[(1+g)/(1+c+0.005)](n)/(2)-1

where,

- G is the guaranteed rate in effect for the current guarantee period.

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 guarantee* (c) 3%
Remaining guarantee period (n) 36 months

MARKET VALUE ADJUSTMENT:

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

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

MARKET VALUE ADJUSTMENT:

10,000X[(1+0.04)/(1+0.05+0.005)(36)/(12)-1]=-420.50

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 C : 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.

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

(2) 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

(3) 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

(4) 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]

$ 742.00 = x -[.06x]
$ 742.00 = .94x
$ 742.00/.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 D : EXAMPLES OF EARNINGS ENHANCEMENT DEATH BENEFIT CALCULATION

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 . 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.

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.

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 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.

APPENDIX U: ACCUMULATION UNIT VALUE TABLES

CONDENSED FINANCIAL INFORMATION

JOHN HANCOCK VARIABLE ANNUITY ACCOUNT JF

EQUITY INDEX
Accumulation Share Value:
Beginning of period ........................................ $ 17.10 $ 13.49 $ 17.58 $ 20.22 $ 22.54 $ 10.00
End of period .............................................. $ 18.70 $ 17.10 $ 13.49 $ 17.58 $ 20.22 $ 22.54
Number of Accumulation Shares outstanding at end of period ... 651,999 728,312 673,856 804,600 507,320 76,098
LARGE CAP VALUE
Accumulation Share Valu
Beginning of period (Note 3) ............................... $ 12.08 $ 9.75 $ 11.38 $ 10.00 - -
End of period .............................................. $ 13.72 $ 12.08 $ 9.75 $ 11.38 - -
Number of Accumulation Shares outstanding at end of period ... 619,096 601,394 483,868 334,667 - -
FUNDAMENTAL VALUE B (formerly "Large Cap Value CORE (SM)")
Accumulation Share Value:
Beginning of period ........................................ $ 10.35 $ 8.13 $ 10.07 $ 10.71 $ 10.31 $ 10.00
End of period .............................................. $ 11.08 $ 10.35 $ 8.13 $ 10.07 $ 10.71 $ 10.31
Number of Accumulation Shares outstanding at end of period ... - 816,510 826,588 1,056,790 520,128 92,493
LARGE CAP GROWTH
Accumulation Share Value:
Beginning of period (Note 3) ............................... $ 7.19 $ 5.79 $ 8.13 $ 10.00 - -
End of period .............................................. $ 7.41 $ 7.19 $ 5.79 $ 8.13 - -
Number of Accumulation Shares outstanding at end of period ... 1,439,838 540,715 167,749 77,662 - -
LARGE CAP GROWTH B (formerly "Large Cap Aggressive Growth")
(Effective November 1, 2004, merged into "Large Cap Growth")
Accumulation Share Value:
Beginning of period ........................................ $ 7.13 $ 5.48 $ 8.09 $ 9.60 $ 11.97 $ 10.00
End of period .............................................. $ 6.81 $ 7.13 $ 5.48 $ 8.09 $ 9.60 $ 11.97
Number of Accumulation Shares outstanding at end of period ... - 609,843 681,954 1,205,414 1,040,129 178,388
GROWTH & Income
Accumulation Share Value:
Beginning of period (Note 2) ............................... $ 6.95 $ 5.66 $ 7.36 $ 8.82 $ 10.00 -
End of period .............................................. $ 7.61 $ 6.95 $ 5.66 $ 7.36 $ 8.82 -
Number of Accumulation Shares outstanding at end of period ... 2,011,770 2,127,364 1,293,111 1,817,947 12,749 -
FUNDAMENTAL VALUE
Accumulation Share Value:
Beginning of period ........................................ $ 11.12 $ 8.75 $ 10.73 $ 11.68 $ 10.43 $ 10.00
End of period .............................................. $ 12.70 $ 11.12 $ 8.75 $ 10.73 $ 11.68 $ 10.43
Number of Accumulation Shares outstanding at end of period ... 1,256,245 603,015 569,649 802,605 347,760 64,904
EARNINGS GROWTH
Accumulation Share Value:
Beginning of period (Note 1) ............................... $ 3.65 $ 2.96 $ 4.43 $ 7.11 $ 10.00 -
End of period .............................................. $ 3.70 $ 3.65 $ 2.96 $ 4.43 $ 7.11 -
Number of Accumulation Shares outstanding at end of period ... 1,068,977 1,209,120 1,222,455 1,636,323 629,910 -

FUNDAMENTAL GROWTH
(Effective November 1, 2004, merged into "Large Cap Growth")
Accumulation Share Value:
Beginning of period ........................................ $ 8.84 $ 6.79 $ 9.86 $ 14.74 $ 15.39 $ 10.00
End of period .............................................. $ 8.43 $ 8.84 $ 6.79 $ 9.86 $ 14.74 $ 15.39
Number of Accumulation Shares outstanding at end of period ... - 328,022 337,037 589,572 525,081 38,912
MID CAP VALUE B (formerly "Small/Mid Cap CORE (SM)")
Accumulation Share Value:
Beginning of period ........................................ $ 15.68 $ 10.94 $ 13.06 $ 13.16 $ 12.73 $ 11.00
End of period .............................................. $ 18.39 $ 15.68 $ 10.94 $ 13.06 $ 13.16 $ 12.73
Number of Accumulation Shares outstanding at end of period ... 293,358 231,918 215,620 220,092 114,891 9,532
MID CAP GROWTH (formerly "Small/Mid Cap Growth")
Accumulation Share Value:
Beginning of period ........................................ $ 23.49 $ 16.19 $ 20.79 $ 20.47 $ 18.98 $ 18.07
End of period .............................................. $ 25.90 $ 23.49 $ 16.19 $ 20.79 $ 20.47 $ 18.98
Number of Accumulation Shares outstanding at end of period ... 210,494 228,854 200,020 242,085 136,439 14,779
SMALL CAP EMERGING GROWTH
Accumulation Share Value:
Beginning of period (Note 2) ............................... $ 8.23 $ 5.60 $ 7.90 $ 8.30 $ 10.00 -
End of period .............................................. $ 8.90 $ 8.23 $ 5.60 $ 7.90 $ 8.30 -
Number of Accumulation Shares outstanding at end of period ... 692,587 116,428 110,281 79,406 535 -
SMALL CAP VALUE
Accumulation Share Value:
Beginning of period ........................................ $ 20.54 $ 15.07 $ 16.31 $ 13.87 $ 10.46 $ 10.00
End of period .............................................. $ 25.43 $ 20.54 $ 15.07 $ 16.31 $ 13.87 $ 10.46
Number of Accumulation Shares outstanding at end of period ... 444,257 467,842 467,201 546,648 241,338 -
SMALL CAP GROWTH

(Effective November 1, 2004, merged into "Small Cap Emerging
Growth")
Accumulation Share Value:
Beginning of period ........................................ $ 12.39 $ 9.81 $ 14.19 $ 16.44 $ 21.19 $ 14.27
End of period .............................................. $ 12.27 $ 12.39 $ 9.81 $ 14.19 $ 16.44 $ 21.19
Number of Accumulation Shares outstanding at end of period ... - 428,036 448,285 715,728 608,753 59,529
AIM V.I. PREMIER EQUITY - SERIES I CLASS
Accumulation Share Value:
Beginning of period ........................................ $ 7.29 $ 5.90 $ 8.57 $ 9.92 $ 11.77 $ 10.00
End of period .............................................. $ 7.62 $ 7.29 $ 5.90 $ 8.57 $ 9.92 $ 11.77
Number of Accumulation Shares outstanding at end of period ... 1,894,411 2,169,567 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) ............................... $ 9.93 $ 7.45 $ 10.00 - - -
End of period .............................................. $ 11.31 $ 9.93 $ 7.45 - - -
Number of Accumulation Shares outstanding at end of period ... 45,281 37,054 11,177 - - -
FIDELITY VIP CONTRAFUND(R) - SERVICE CLASS
Accumulation Share Value:
Beginning of period ........................................ $ 10.49 $ 8.28 $ 9.25 $ 10.69 $ 11.61 $ 10.00
End of period .............................................. $ 11.95 $ 10.49 $ 8.28 $ 9.25 $ 10.69 $ 11.61
Number of Accumulation Shares outstanding at end of period ... 1,199,675 1,230,521 1,168,106 1,645,859 1,447,471 237,990

FIDELITY VIP GROWTH - SERVICE CLASS
Accumulation Share Value:
Beginning of period ........................................ $ 7.76 $ 5.92 $ 8.59 $ 10.57 $ 12.04 $ 10.00
End of period .............................................. $ 7.92 $ 7.76 $ 5.92 $ 8.59 $ 10.57 $ 12.04
Number of Accumulation Shares outstanding at end of period ... 1,424,488 1,601,890 133,140 2,501,361 1,875,307 205,097
MFS INVESTORS GROWTH STOCK - INITIAL CLASS
Accumulation Share Value:
Beginning of period ........................................ $ 7.46 $ 6.14 $ 8.58 $ 11.45 $ 12.36 $ 10.00
End of period .............................................. $ 8.05 $ 7.46 $ 6.14 $ 8.58 $ 11.45 $ 12.36
Number of Accumulation Shares outstanding at end of period ... 641,118 715,159 723,032 1,280,675 971,077 158,192
MFS RESEARCH - INITIAL CLASS
Accumulation Share Value:
Beginning of period ........................................ $ 7.95 $ 6.46 $ 8.67 $ 11.14 $ 11.86 $ 10.00
End of period .............................................. $ 9.10 $ 7.95 $ 6.46 $ 8.67 $ 11.14 $ 11.86
Number of Accumulation Shares outstanding at end of period ... 517,686 578,045 621,468 970,571 672,010 73,452
INTERNATIONAL EQUITY INDEX
Accumulation Share Value:
Beginning of period (Note 4) ............................... $ 9.49 $ 6.77 $ 10.00 - - -
End of period .............................................. $ 11.27 $ 9.49 $ 6.77 - - -
Number of Accumulation Shares outstanding at end of period ... 211,686 206,714 9,558 - - -
OVERSEAS EQUITY B (formerly "International Opportunities")
Accumulation Share Value:
Beginning of period (Note 3) ............................... $ 8.79 $ 6.72 $ 8.33 $ 10.00 - -
End of period .............................................. $ 9.64 $ 8.79 $ 6.72 $ 8.33 - -
Number of Accumulation Shares outstanding at end of period ... 694,057 301,848 190,914 20,457 - -
OVERSEAS EQUITY
(Effective November 1, 2004, merged into "Overseas Equity B
(formerly "International Opportunities")")
Accumulation Share Value:
Beginning of period ........................................ $ 13.75 $ 9.96 $ 10.76 $ 11.65 $ 12.98 $ 12.24
End of period .............................................. $ 14.08 $ 13.75 $ 9.96 $ 10.76 $ 11.65 $ 12.98
Number of Accumulation Shares outstanding at end of period ... - 201,570 174,540 128,318 63,735 5,361
FIDELITY VIP OVERSEAS - SERVICE CLASS
Accumulation Share Value:
Beginning of period ........................................ $ 8.62 $ 6.10 $ 7.73 $ 9.97 $ 12.48 $ 10.00
End of period .............................................. $ 9.66 $ 8.62 $ 6.10 $ 7.73 $ 9.97 $ 12.48
Number of Accumulation Shares outstanding at end of period ... 470,234 501,964 523,589 960,931 1,107,608 30,517
OVERSEAS EQUITY C (formerly "Emerging Markets Equity")
(Effective November 1, 2004, merged into "Overseas Equity B
(formerly "International Opportunities")")
Accumulation Share Value:
Beginning of period (Note 3) ............................... $ 14.06 $ 9.07 $ 9.85 $ 10.00 - -
End of period .............................................. $ 15.37 $ 14.06 $ 9.07 $ 9.85 - -
Number of Accumulation Shares outstanding at end of period ... - 33,986 17,395 7,941 - -
JANUS ASPEN WORLDWIDE GROWTH - SERVICE SHARES CLASS
Accumulation Share Value:
Beginning of period (Note 2) ............................... $ 6.19 $ 5.07 $ 6.90 $ 9.04 $ 10.00 -
End of period .............................................. $ 6.39 $ 6.19 $ 5.07 $ 6.90 $ 9.04 -
Number of Accumulation Shares outstanding at end of period ... 178,127 214,502 229,005 322,018 128,709 -

REAL ESTATE EQUITY
Accumulation Share Value:
Beginning of period (Note 2) ............................... $ 15.47 $ 11.44 $ 11.43 $ 10.95 $ 10.00 -
End of period .............................................. $ 20.85 $ 15.47 $ 11.44 $ 11.43 $ 10.95 -
Number of Accumulation Shares outstanding at end of period ... 253,425 267,781 217,276 138,332 1,766 -
HEALTH SCIENCES
Accumulation Share Value:
Beginning of period (Note 3) ............................... $ 10.00 $ 7.69 $ 9.73 $ 10.00 - -
End of period .............................................. $ 10.98 $ 10.00 $ 7.69 $ 9.73 - -
Number of Accumulation Shares outstanding at end of period ... 127,989 138,303 129,645 100,786 - -
FINANCIAL INDUSTRIES (NOTE 5)
Accumulation Share Value:
Beginning of period ........................................ $ 14.43 $ 11.60 $ 14.58 $ 17.90 $ 14.25 $ 10.00
End of period .............................................. $ 15.49 $ 14.43 $ 11.60 $ 14.58 $ 17.90 $ 14.25
Number of Accumulation Shares outstanding at end of period ... 418,976 488,871 542,851 855,100 642,376 113,876
MANAGED
Accumulation Share Value:
Beginning of period (Note 2) ............................... $ 9.41 $ 8.00 $ 9.34 $ 9.73 $ 10.00 -
End of period .............................................. $ 10.05 $ 9.41 $ 8.00 $ 9.34 $ 9.73 -
Number of Accumulation Shares outstanding at end of period ... 1,168,263 1,277,365 1,159,355 868,814 89 -
SHORT -TERM BOND
Accumulation Share Value:
Beginning of period ........................................ $ 15.04 $ 14.82 $ 14.20 $ 13.30 $ 12.48 $ 12.34
End of period .............................................. $ 15.07 $ 15.04 $ 14.82 $ 14.20 $ 13.30 $ 12.48
Number of Accumulation Shares outstanding at end of period ... 765,939 884,537 621,051 440,240 126,421 15,433
BOND INDEX
Accumulation Share Value:
Beginning of period ........................................ $ 12.57 $ 12.28 $ 11.31 $ 10.63 $ 9.63 $ 9.65
End of period .............................................. $ 12.91 $ 12.57 $ 12.28 $ 11.31 $ 10.63 $ 9.63
Number of Accumulation Shares outstanding at end of period ... 731,490 911,341 737,019 833,929 327,502 47,232
ACTIVE BOND
Accumulation Share Value:
Beginning of period (Note 3) ............................... $ 11.57 $ 11.00 $ 10.39 $ 10.00 - -
End of period .............................................. $ 11.97 $ 11.57 $ 11.00 $ 10.39 - -
Number of Accumulation Shares outstanding at end of period ... 1,549,579 1,767,167 1,018,456 1,154,989 - -
HIGH YIELD BOND
Accumulation Share Value:
Beginning of period ........................................ $ 9.90 $ 8.60 $ 9.12 $ 9.04 $ 10.27 $ 10.00
End of period .............................................. $ 10.57 $ 9.90 $ 8.60 $ 9.12 $ 9.04 $ 10.27
Number of Accumulation Shares outstanding at end of period ... 551,124 626,689 477,166 644,021 333,028 48,898
GLOBAL BOND
Accumulation Share Value:
Beginning of period (Note 2) ............................... $ 13.85 $ 12.10 $ 10.31 $ 10.60 $ 10.00 -
End of period .............................................. $ 15.13 $ 13.85 $ 12.10 $ 10.31 $ 10.60 -
Number of Accumulation Shares outstanding at end of period ... 150,408 180,511 141,303 71,857 - -
MONEY MARKET
Accumulation Share Value:
Beginning of period (Note 3) ............................... $ 10.12 $ 10.15 $ 10.12 $ 10.00 - -
End of period .............................................. $ 10.10 $ 10.12 $ 10.15 $ 10.12 - -
Number of Accumulation Shares outstanding at end of period ... 1,589,131 2,054,260 2,479,251 4,289,180 - -

MID CAP VALUE
(Effective November 1, 2004, merged into "Mid Cap Value B
(formerly "Small/Mid Cap CORE(SM)")")
Accumulation Share Value:
Beginning of period (Note 6) ............................... $ 13.56 $ 10.00 - - - -
End of period .............................................. $ 14.77 $ 13.56 - - - -
Number of Accumulation Shares outstanding at end of period ... - 27,470 - - - -
TOTAL RETURN BOND
Accumulation Share Value:
Beginning of period (Note 6) ............................... $ 10.11 $ 10.00 - - - -
End of period .............................................. $ 10.46 $ 10.11 - - - -
Number of Accumulation Shares outstanding at end of period ... 101,935 85,139 - - - -
MFS NEW DISCOVERY SERIES - INITIAL CLASS
Accumulation Share Value:
Beginning of period (Note 3) ............................... $ 12.35 $ 9.35 $ 13.85 $ 14.77 $ 15.26 $ 10.00
End of period .............................................. $ 12.99 $ 12.35 $ 9.35 $ 13.85 $ 14.77 $ 15.26
Number of Accumulation Shares outstanding at end of period ... 225,250 256,805 277,963 533,377 431.09 36,557
JANUS ASPEN GLOBAL TECHNOLOGY - SERVICE SHARES CLASS
Accumulation Share Value:
Beginning of period (Note 6) ............................... $ 13.67 $ 10.04 - - - -
End of period .............................................. $ 13.58 $ 13.67 - - - -
Number of Accumulation Shares outstanding at end of period ... 10,639 18,973 - - - -

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

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.

6) Values shown for 2003 begin on May 1, 2003.

ANNUITY SERVICE OFFICE MAILING ADDRESS
601 Congress Street Post Office Box 55106
Boston, Massachusetts 02210-2805 Boston, Massachusetts 02205- 5106
(617) 663-3000 or (800) 824-0335

Prospectus Dated May 2, 2005
for interests in
John Hancock Variable Annuity Account JF

Interests are made available under

DECLARATION VARIABLE ANNUITY

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

This 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:

Small Cap Growth
Financial Services
Overseas Equity
Growth & Income II
500 Index B
Active Bond
Money Market B

Additional information about the contract and the Account is contained in a
Statement of Additional Information, dated the same date as this Prospectus,
which has been filed with the SEC and is incorporated herein by reference. The
Statement of Additional Information is available without charge upon request by
writing us at the above address or by telephoning the number above. The SEC
maintains a Web site (http://www.sec.gov) that contains the Statement of
Additional Information and other information about us, the contracts and the
Account. We list the Table of Contents of the Statement of Additional
Information on page 3.

TABLE OF CONTENTS

GUIDE TO THIS PROSPECTUS............................................... 4
FEE TABLES............................................................. 5
Examples............................................................. 7
BASIC INFORMATION...................................................... 8
WHAT IS THE CONTRACT?................................................ 8
WHO OWNS THE CONTRACT?............................................... 8
IS THE OWNER ALSO THE ANNUITANT?..................................... 8
HOW CAN I INVEST MONEY IN A CONTRACT?................................ 8
Premium Payments................................................... 8
Applying for a Contract............................................ 8
Limits on Premium Payments......................................... 8
Ways to Make Premium Payments...................................... 9
Premium Payments by Wire........................................... 9
HOW WILL THE VALUE OF MY INVESTMENT IN THE CONTRACT
CHANGE OVER TIME?.................................................... 9
WHAT ANNUITY BENEFITS DOES A CONTRACT PROVIDE?....................... 10
TO WHAT EXTENT CAN JHVLICO VARY THE TERMS AND
CONDITIONS OF THE CONTRACTS?......................................... 10
State Law Insurance Requirements................................... 10
Variations in Charges or Rates..................................... 10
WHAT ARE THE TAX CONSEQUENCES OF OWNING A CONTRACT?.................. 10
HOW CAN I CHANGE MY CONTRACT'S INVESTMENT
ALLOCATIONS?......................................................... 11
Allocation of Premium Payments..................................... 11
Transfers Among Investment Options................................. 11
Procedure for Transferring Your Assets............................. 12
Dollar Cost Averaging Program...................................... 12
What Fees and Charges will be Deducted from My
Contract? ........................................................... 13
Mortality and Expense Risk Charge.................................. 13
Administrative Services Charge..................................... 13
Annual Contract Fee................................................ 13
Premium Taxes...................................................... 13
Withdrawal Charge.................................................. 13
Other Charges...................................................... 14
How can I Withdraw Money from My Contract?........................... 14
Surrenders and Partial Withdrawals................................. 14
Nursing Home Waiver of Withdrawal Charge........................... 15
Systematic Withdrawal Plan......................................... 15
Telephone Withdrawals.............................................. 15
What Happens if the Annuitant Dies Before My
Contract's Date of Maturity? ........................................ 15
Standard Death Benefit............................................. 15
ENHANCED DEATH BENEFITS.............................................. 16
"Stepped-Up" Death Benefit......................................... 16
Accidental Death Benefit........................................... 16
What Additional Guarantee Applies to the Guarantee
Periods under My Contract?........................................... 16
What are the Terms of the Additional Guarantee?...................... 17
DESCRIPTION OF JHVLICO................................................. 17
HOW TO FIND ADDITIONAL INFORMATION ABOUT
JHVLICO AND JHFS. .................................................... 17
HOW WE SUPPORT THE VARIABLE INVESTMENT
OPTIONS............ ................................................... 18
Information about the funds........................................ 18
DESCRIPTION OF CHARGES AT THE FUND LEVEL............................... 19
HOW WE SUPPORT THE GUARANTEE PERIODS................................... 19
HOW THE GUARANTEE PERIODS WORK......................................... 19
Guaranteed Interest Rates.......................................... 20
THE ACCUMULATION PERIOD................................................ 20
Your Value in Our Variable Investment Options...................... 21
Valuation of Accumulation Units.................................... 21
Your Value in the Guarantee Periods................................ 21
THE ANNUITY PERIOD..................................................... 21
Date of Maturity................................................... 21
Choosing Fixed or Variable Annuity Payments........................ 21
Selecting an Annuity Option........................................ 22
Variable Monthly Annuity Payments.................................. 22
Assumed Investment Rate............................................ 22
Transfers during the annuity period................................ 22
Fixed Monthly Annuity Payments..................................... 23
Annuity Options.................................................... 23
VARIABLE INVESTMENT OPTION VALUATION
PROCEDURES........... ................................................. 24
DISTRIBUTION REQUIREMENTS FOLLOWING
DEATH OF OWNER........ ................................................ 24
Who Should Purchase A Contract?...................................... 24
TAX INFORMATION........................................................ 25
Our Income Taxes................................................... 25
Special Considerations for Optional Benefit Riders................. 25
Contracts Not Purchased to Fund a Tax Qualified Plan............... 26
Undistributed Gains................................................ 26
Annuity Payments................................................... 26
Surrenders, Withdrawals and Death Benefits......................... 26
Penalty for Premature Withdrawals.................................. 26
Special Considerations for Puerto Rico Annuity
Contracts 26
Diversification Requirements....................................... 27
Contracts Purchased for a Tax Qualified Plan....................... 27
Tax-Free Rollovers................................................. 27
Traditional IRAs................................................... 27
Roth IRAs.......................................................... 28
SIMPLE IRA Plans................................................... 29
Simplified Employee Pension Plans (SEPs)........................... 29
Section 403(b) plans.............................................. 29
Pension and Profit Sharing Plans Qualified Under Section
401(a) ............................................................ 30
"Top-Heavy" Plans.................................................. 30

Section 457 Deferred Compensation Plans............................ 30
Elective Deferral Limits........................................... 31
Elective Catch-Up Limits........................................... 31
Withholding on Rollover Distributions.............................. 31
Puerto Rico Annuity Contracts Purchased to Fund a Tax-
Qualified Plan..................................................... 31
See Your Own Tax Adviser........................................... 31
PERFORMANCE INFORMATION................................................ 31
REPORTS................................................................ 32
VOTING PRIVILEGES...................................................... 32
CERTAIN CHANGES........................................... 32
Changes to the Account............................................. 32
Variations in Charges or Rates for Eligible Classes................ 32
DISTRIBUTION OF CONTRACTS.............................................. 33
EXPERTS................................................................ 33
APPENDIX A: INDEX OF KEY WORDS........................................ 34
APPENDIX B: DETAILS ABOUT OUR GUARANTEED PERIODS...................... 35
APPENDIX C: EXAMPLE OF WITHDRAWAL CHARGE CALCULATION.................. 37
APPENDIX U: Accumulation Unit Value Tables............... ............. 1

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........................................... 3

CALCULATION OF ANNUITY PAYMENTS......................................... 4

ADDITIONAL INFORMATION ABOUT DETERMINING UNIT VALUES.................... 5

PURCHASES AND REDEMPTIONS OF FUND SHARES................................ 6

THE ACCOUNT............................................................. 6

DELAY OF CERTAIN PAYMENTS............................................... 7

LIABILITY FOR TELEPHONE TRANSFERS....................................... 7

VOTING PRIVILEGES....................................................... 7

FINANCIAL STATEMENTS.................................................... 9

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

Prospectuses for policies or contracts often undergo certain changes in their
terms from year to year to reflect changes in the policies or contracts. The
changes include such things as the liberalization of benefits, the exercise of
rights reserved under the policy or contract, the alteration of administrative
procedures and changes in the investment options available. Any such change may
or may not apply to policies or contracts issued prior to the effective date of
the change. This product prospectus reflects the status of the product as of May
1, 2004. Therefore, this prospectus may contain information that is inapplicable
to your policy or contract. Moreover, there may be Supplements and fund
prospectuses included in this package pertaining to variable investment options
that are not available to you. You should consult your policy or contract to
verify whether any particular provision applies to you and whether you may elect
any particular investment option. In the event of any conflict between this
prospectus and your policy or contract, the terms of your policy or contract
will control.

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.

For amounts you don't wish to invest in a variable investment option, you can
allocate to the fixed investment option if permitted in your local jurisdiction.
We invest the assets allocated to the fixed investment option in our general
account and they earn interest at a fixed rate, declared by us, subject to a 3%
minimum. Neither our general account nor any interests in our general account
are registered with the SEC or subject to the Federal securities laws.

We refer to the variable investment options and the fixed investment option
together as investment options.

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

Maximum Withdrawal Charge (as % of amount withdrawn or 6% for the first year
surrendered)(1) 6% for the second year
5% for the third year
5% for the fourth year
4% for the fifth year
3% for the sixth year
2% for the seventh year
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.

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 Charge: 0.90%
Administrative Services Charge: 0.35%
Total Separate Account Expenses 1.25%

CONTRACTS WITH INITIAL PREMIUM PAYMENT OF $250.000 OR MORE:
Mortality and Expense Risk Charge: 0.90%
Administrative Services Charge: 0.10%
Total Separate Account Expenses; 1.00%

OPTIONAL BENEFIT RIDER CHARGES (5)

Enhanced "Stepped Up" Death Benefit Rider 0.15% of your contract's total value
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.

TOTAL ANNUAL PORTFOLIO OPERATING EXPENSES MINIMUM MAXIMUM
- ---------------------------------------------------------------------- ------- -------

Range of expenses that are deducted from fund assets, including 0.50% 1.15%
management fees, and other expenses

TOTAL
MANAGEMENT OTHER ANNUAL
PORTFOLIO FEES EXPENSES EXPENSES
- ------------------------------- ---------- -------- --------

JOHN HANCOCK TRUST - NAV SHARES
Small Cap Growth Trust (A) 1.08% 0.07% 1.15%
Financial Services Trust 0.88%(C) 0.08% 0.96%
Overseas Equity Trust(A) 1.05% 0.09% 1.14%
Blue Chip Growth Trust 0.82%(B) 0.04% 0.86%
Growth & Income II Trust 0.64% 0.03% 0.67%
500 Index Trust B(A)(+) 0.47% 0.03% 0.50%
Active Bond TrustA 0.61% 0.04% 0.65%
Money Market Trust B (A)(+) 0.49% 0.04% 0.53%

+ Commencement of operations -- April 29, 2005

(A) Based on estimates for the current fiscal year

(B) The Adviser has voluntarily agreed to waive a portion of its advisory fee
for the Science & Technology Trust, Health Sciences Trust, the Blue Chip Growth
Trust the Equity-Income Trust and Small Company Value Trust. The waiver is based
on the combined assets of these portfolios and the Small Company Value Trust.
Once these combined assets exceed specified amounts, the fee reduction is
increased.

MANAGEMENT TOTAL ANNUAL
PORTFOLIO FEES EXPENSES
- -------------------------- ---------- ------------

Blue Chip Growth Trust 0.79% 0.88%

BETWEEN $50
FIRST $50 MILLION AND EXCESS OVER
PORTFOLIO MILLION* $500 MILLION* $500 MILLION*
- ------------------------ --------- ------------- -------------

Financial Services Trust 0.85% 0.80% 0.75%

*as a percentage of average annual net assets.

If such advisory fee waiver were reflected, it is estimated that the advisory
fees ("Management Fees") and "Total Annual Expenses" would have been as follows:

MANAGEMENT TOTAL ANNUAL
PORTFOLIO FEES EXPENSES
- ------------------------ ---------- ------------

Financial Services Trust 0.83% 0.96%

the portfolio held by) any person other than the variable life or variable
annuity insurance separate accounts of JHLICO or any of its affiliates that are
specified in the agreement.

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

If you surrender the contract at the end of the $ 818 $ 1,299 $ 1,808 $ 3,075
applicable time period:

If you annuitize, or do not surrender the contract $ 278 $ 852 $ 1,452 $ 3,075
at the end of the applicable time period:

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

If you surrender the contract at the end of the $ 721 $ 1,006 $ 1,318 $ 2,091
applicable time period:

If you annuitize, or do not surrender the contract $ 181 $ 559 $ 963 $ 2,091
at the end of the applicable time period:

BASIC INFORMATION

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

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

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 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 84 1/2

* as that term is used in "Tax Information," beginning on page 27.

** 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" and sent to the Annuity Service
Center

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 Service
Center 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 Service Center.

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 Service Center.

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 Service Center.
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?" .

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.

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?

You should carefully review the discussion under "The annuity period" 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?

- 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.

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.

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
fixed investment options (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 Service
Office.

TRANSFERS AMONG INVESTMENT OPTIONS

During the accumulation period, you may transfer amounts held in one investment
option to any other investment option, up to the above-mentioned maximum of 18
investment options and subject to the restrictions set forth below. During the
annuity period, you may make transfers to or from variable investment options
that will result in no more than 4 investment options being used at once. You
may not make any transfers during the annuity period, however, to or from a
fixed annuity payment option.

We have adopted a policy and procedures to restrict frequent transfers of
contract value among variable investment options.

To disruptive discourage frequent trading activity, we have adopted a policy for
the Account to restrict transfers to two per month per contract, with certain
exceptions, and procedures to count the number of transfers made under a
contract. Under the current procedures of the Account, we count all transfers
made during the period from the opening of trading each day the net asset value
of the shares of a Fund are determined (usually 9 a.m.) to the close of trading
that day (the close of day-time trading of the New York Stock Exchange (usually
4 p.m.)) as a SINGLE transfer. We do NOT count: (a) scheduled transfers made
pursuant to our Dollar Cost Averaging program or our Strategic Rebalancing
Program, (b) transfers from a fixed account option at the end of its guarantee
period, (c) transfers made within a prescribed period before and after a
substitution of underlying Funds and (d) transfers made during the annuity
period (these transfers are subject to a 30 day notice requirement, however, as
described in the "Transfers during the annuity period" section of this
Prospectus). Under the Account's policy and procedures, Contract owners may
transfer to a Money Market investment option even if the two transfer per month
limit has been reached if 100% of the contract value is transferred to that
Money Market investment option. If such a transfer to a Money Market investment
option is made, for a 30 calendar day period after such

transfer, no subsequent transfers from that Money Market investment option to
another variable investment option may be made. We apply the Account's policy
and procedures uniformly to all contract owners.

We reserve the right to take other actions at any time to restrict trading,
including, but not limited to:

- restricting the number of transfers made during a defined period,

- restricting the dollar amount of transfers,

- restricting the method used to submit transfers (e.g., changing
telephone and facsimile procedures to require that transfer requests
be submitted in writing via U.S. mail), and

- restricting transfers into and out of certain subaccounts.

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 Service Office.

TELEPHONE AND FACSIMILE TRANSACTIONS

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, o 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.

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.

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 C 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

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 27.
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 27 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 11, 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.

Telephone Withdrawals

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 Service Center:

- proof of the annuitant's death, and

- the 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" .

ENHANCED DEATH BENEFITS

"STEPPED-UP" DEATH BENEFIT

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
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

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 80th 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 benefit 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
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?

parent) has provided to JHVLICO. Standard & Poor's Corporation and Fitch Ratings
have assigned financial strength ratings to JHVLICO of AA, which place JHVLICO
in the third highest rating assigned 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"). JHFS is a publicly reporting 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?

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. In April 2004, John Hancock Financial
Services, Inc. was merged with a subsidiary of Manulife Financial Corporation, a
publicly-traded corporation organized under the laws of Canada. The merger was
effected pursuant to an Agreement and Plan of Merger dated as of September 28,
2003. As a consequence of the merger, John Hancock's ultimate parent is now
Manulife Financial Corporation. John Hancock"s home office is at John Hancock
Place, Boston, Massachusetts 02117. As of December 31, 2004, John Hancock's
assets were approximately $100 billion and it had invested approximately $1.9
billion 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, 2004;

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 Service Center using the
phone number or address shown on page 2 of this prospectus.

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.

INFORMATION ABOUT THE FUNDS.

The funds available under the contracts are as follows:

PORTFOLIO PORTFOLIO MANAGER INVESTMENT DESCRIPTION
- --------- ----------------- ----------------------

SMALL CAP GROWTH Wellington Management Seeks long-term capital
TRUST Company, LLP appreciation by investing,
under normal market
conditions, primarily in
small-cap companies that
are believed to offer above
average potential for
growth in revenues and
earnings.

FINANCIAL SERVICES Davis Advisors seeks growth of capital by
TRUST investing primarily in common
stocks of financial companies.
During normal market conditions,
at least 80% of the portfolio's
net assets (plus any borrowings
for investment purposes) are
invested in companies that are
principally engaged in financial
services. A company is
"principally engaged" in financial
services if it owns financial
services-related assets
constituting at least 50% of the
value of its total assets, or if
at least 50% of its revenues are
derived from its provision of
financial services.

OVERSEAS EQUITY Capital Guardian seeks long-term capital
TRUST Trust Company appreciation by investing, under
normal market conditions, at least
80% of its assets in equity
securities of companies outside
the U.S. in a diversified mix of
large established and medium-sized
foreign companies located
primarily in developed countries
and, to a lesser extent, in
emerging markets.

GROWTH & INCOME II Independence seeks income and long-term capital
TRUST Investment LLC appreciation by investing, under
normal market conditions,
primarily in a diversified mix of
common stocks of large U.S.
companies.

PORTFOLIO PORTFOLIO MANAGER INVESTMENT DESCRIPTION
- --------- ----------------- ----------------------

500 INDEX TRUST B MFC Global Investment seeks to approximate the aggregate
Management (U.S.A.) total return of a broad U.S.
Limited domestic equity market index
investing, under normal market
conditions, at least 80% of its
net assets (plus any borrowings
for investment purposes) in (a)
the common stocks that are
included in the S & P 500 Index
and (b) securities (which may or
may not be included in the S & P
500 Index) that MFC Global
(U.S.A.) believes as a group will
behave in a manner similar to the
index.

ACTIVE BOND TRUST Declaration seek income and capital
Management & Research appreciation by investing at least
LLC 80% of its assets in a diversified
mix of debt securities and
John Hancock instruments.
Advisers, LLC

MONEY MARKET TRUST MFC Global Investment Seeks to obtain maximum current
B Management (U.S.A.) income consistent with
Limited preservation of principal and
liquidity by investing in high
quality, U.S. Dollar denominated
money market instruments.

DESCRIPTION OF CHARGES AT THE FUND LEVEL

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 Service 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

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 Service Office.

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.

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'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 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 29.)

CHOOSING FIXED OR VARIABLE ANNUITY PAYMENTS

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

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.

TRANSFERS DURING THE ANNUITY PERIOD

maturity date will be made by converting the number of annuity units being
transferred to the number of annuity units of the sub-account to which the
transfer is made, so that the next annuity payment if it were made at that time
would be the same amount that it would have been without the transfer.
Thereafter, annuity benefit payments will reflect changes in the value of the
annuity units for the new sub-account selected. We limit the maximum number of
transfers a contract owner may make per contract year to four, subject to a
limit of four options being used at once. Once annuity benefit payments begin,
no transfers may be made from payments on a fixed basis to payments on a
variable basis or from payments on a variable basis to payments on a fixed
basis. In addition, we reserve the right to defer the transfer privilege at any
time that we are unable to purchase or redeem shares of a Fund. We also reserve
the right to modify or terminate the transfer privilege at any time in
accordance with applicable law.

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 amounts 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

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.

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

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.

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.

(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.

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.

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

CONTRACTS NOT PURCHASED TO FUND A TAX QUALIFIED PLAN

UNDISTRIBUTED GAINS

ANNUITY PAYMENTS

SURRENDERS, WITHDRAWALS AND DEATH BENEFITS

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).

SPECIAL CONSIDERATIONS FOR PUERTO RICO ANNUITY CONTRACTS

early withdrawal penalty tax. The Internal Revenue Code, however, does impose
such a penalty and bases it on the amount that is taxable under federal rules.

DIVERSIFICATION REQUIREMENTS

CONTRACTS PURCHASED FOR A TAX QUALIFIED PLAN

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

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."

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

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

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)

"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

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

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,

- the administrative charge,

- the annual contract fee, and

- any withdrawal payable if the owner surrenders 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 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.

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

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.

Signator representatives may receive additional cash or non-cash incentives
(including expenses for conference or seminar trips and certain gifts) in
connection with the sale of contracts issued by us. From time to time, Signator,
at its expense, may also provide significant additional amounts to broker
dealers or other 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
policies, and/or other events or activities sponsored by the financial services
firms. As a consequence of such additional compensation, representatives and
financial services firms, including but not limited to Signator and its
representatives, may be motivated to sell our contracts instead of contracts
issued by other insurance companies.

EXPERTS

APPENDIX A: 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........................ 13
Annuity period.......................... 13
Business day............................ 10
Contract year........................... 11
Date of issue........................... 11
Date of maturity........................ 29
Extra Credits........................... 13
Free withdrawal amount.................. 17
Funds................................... 2
Guarantee period........................ 12
Investment options...................... 14
Market value adjustment................. 12
Premium payments........................ 10
Surrender............................... 16
Surrender value......................... 17
Total value of your contract............ 12
Variable investment options............. cover
Withdrawal charge....................... 16
Withdrawal.............................. 16

APPENDIX B: 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)/(1+c+0.005)(n/12)-1]

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 withdrawl or transfer beginning of 3rd year of guarantee period
Guarantee rate(g) 4%
Guarantee rate for new 3 year guarantee(c) 3%
Remaining guarantee period (n) 36 months

MARKET VALUE ADJUSTMENT:

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

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

SAMPLE CALCULATION 2: NEGATIVE ADJUSTMENT

MARKET VALUE ADJUSTMENT:

10,000 x [(1+0.04)/(1+0.05+0.005)](36/12)] - 1 = -420.50

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 C: 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.

$ 6,000.00 -- withdrawal request payable to you
+ 272.23 -- withdrawal charge payable to us
----------
$ 6,272.23 -- total amount withdrawn from your contract

HERE IS HOW WE DETERMINE THE WITHDRAWAL CHARGE:

(1) We first reduce your $5000 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.

$5,000
- 30 -- 1998 contract fee payable to us
- 30 -- 1999 contract fee payable to us
- 30 -- 2000 contract fee payable to us
------
$4,910 -- 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.

$4,910.00
- 900 -- free withdrawal amount (payable to you)
---------
$ 4,010
x .05
---------
$ 200.50 -- withdrawal charge on initial premium payment
(payable to us)

$4,010.00
- 200.50
---------
$3,809.50 -- 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.

$ 1,000
x .05
-------
$ 50 -- withdrawal charge on 1998 premium payment(payable to
us)

$ 1,000
- 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.

$ 6,000.00 -- total withdrawal amount requested
- 900.00 -- free withdrawal amount
- 3,809.50 -- 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
$ 340.50/0.94 = 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

APPENDIX U: ACCUMULATION UNIT VALUE TABLES

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
DEC. 31 DEC. 31 DEC. 31 DEC. 31
2004 2003 2002 2001
---- ---- ---- ----

EQUITY INDEX
Accumulation Share Value:
Beginning of period (Note 1) $ 17.10 $ 13.49 $ 17.58 $ 10.00
End of period $ 18.70 $ 17.10 $ 13.49 $ 17.58
Number of Accumulation Shares outstanding at end of period 279,282 352,181 366,608 447,352
GROWTH & INCOME
Accumulation Share Value:
Beginning of period (Note 1) $ 6.95 $ 5.66 $ 7.36 $ 10.00
End of period $ 7.61 $ 6.95 $ 5.66 $ 7.36
Number of Accumulation Shares outstanding at end of period 2,038,882 2,463,202 1,034,165 1,326,556
FUNDAMENTAL GROWTH
(Effective November 1, 2004, merged into "Large Cap Growth")
Accumulation Share Value:
Beginning of period (Note 1) $ 8.84 $ 6.79 $ 9.86 $ 10.00
End of period $ 8.43 $ 8.84 $ 6.79 $ 9.86
Number of Accumulation Shares outstanding at end of period - 117,743 114,921 167,698
SMALL CAP GROWTH

(Effective November 1, 2004, merged into "Small Cap Emerging Growth")
Accumulation Share Value:
Beginning of period (Note 1) $ 12.39 $ 9.81 $ 14.19 $ 10.00
End of period $ 12.27 $ 12.39 $ 9.81 $ 14.19
Number of Accumulation Shares outstanding at end of period - 250,519 270,532 334,521
OVERSEAS EQUITY B (formerly "International Opportunities")
Accumulation Share Value:
Beginning of period $ 8.79 $ 6.72 $ 10.00 -
End of period $ 9.64 $ 8.79 $ 6.72 -
Number of Accumulation Shares outstanding at end of period 95,289 102,807 103,370 -
FINANCIAL INDUSTRIES (NOTE 2)
Accumulation Share Value:
Beginning of period $ 14.43 $ 11.60 $ 14.58 $ 17.90
End of period $ 15.49 $ 14.43 $ 11.60 $ 14.58
Number of Accumulation Shares outstanding at end of period 656,027 791,313 946,719 1,210,792
ACTIVE BOND
Accumulation Share Value:
Beginning of period (Note 1) $ 11.57 $ 11.00 $ 10.39 $ 10.00
End of period $ 11.97 $ 11.57 $ 11.00 $ 10.39
Number of Accumulation Shares outstanding at end of period 534,099 670,444 400,122 341,607
MONEY MARKET
Accumulation Share Value:
Beginning of period (Note 1) $ 10.12 $ 10.15 $ 10.12 $ 10.00
End of period $ 10.10 $ 10.12 $ 10.15 $ 10.12
Number of Accumulation Shares outstanding at end of period 288,851 412,229 552,435 457,386

YEAR ENDED YEAR ENDED YEAR ENDED YEAR ENDED
DEC. 31 DEC. 31 DEC. 31 DEC. 31
2000 1999 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
(Effective November 1, 2004, merged into "Large Cap Growth")
Accumulation Share Value:
Beginning of period (Note 1) - - - -
End of period - - - -
Number of Accumulation Shares outstanding at end of period - - - -
SMALL CAP GROWTH
(Effective November 1, 2004, merged into "Small Cap Emerging Growth")

Accumulation Share Value:
Beginning of period (Note 1) - - - -
End of period - - - -
Number of Accumulation Shares outstanding at end of period - - - -
OVERSEAS EQUITY B (formerly "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 $ 14.25 $ 14.36 $ 13.39 $ 10.00
End of period $ 17.90 $ 14.25 $ 14.36 $ 13.39
Number of Accumulation Shares outstanding at end of period 1,113,582 1,506,906 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 - - - -

YEAR ENDED YEAR ENDED YEAR ENDED YEAR ENDED
DEC. 31 DEC. 31 DEC. 31 DEC. 31
2004 2003 2002 2001
---- ---- ---- ----

LARGE CAP GROWTH
Accumulation Share Value:
Beginning of period (Note 1) $ 6.87 Value date 11-1-04
End of period $ 7.41
Number of Accumulation Shares outstanding at end of period 142,526
SMALL CAP EMERGING GROWTH
Accumulation Share Value:
Beginning of period (Note 1) $ 8.40 Value date 11-1-04
End of period $ 9.21
Number of Accumulation Shares outstanding at end of period 316,019

YEAR ENDED YEAR ENDED YEAR ENDED YEAR ENDED
DEC. 31 DEC. 31 DEC. 31 DEC. 31
2000 1999 1998 1997
---- ---- ---- ----

LARGE CAP GROWTH
Accumulation Share Value:
Beginning of period (Note 1)
End of period
Number of Accumulation Shares outstanding at end of period
SMALL CAP EMERGING GROWTH
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.

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 $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 YEAR YEAR YEAR
ENDED ENDED ENDED ENDED
DEC. 31 DEC. 31 DEC. 31 DEC. 31
2004 2003 2002 2001
---- ---- ---- ----

EQUITY INDEX
Accumulation Share Value:
Beginning of period (Note 1) $ 14.24 $ 11.20 $ 14.56 $ 10.00
End of period $ 15.61 $ 14.24 $ 11.20 $ 14.56
Number of Accumulation Shares outstanding at end of period 78,336 52,830 59,634 75,420
GROWTH & INCOME
Accumulation Share Value:
Beginning of period (Note 1) $ 12.30 $ 9.99 $ 12.97 $ 10.00
End of period $ 13.52 $ 12.30 $ 9.99 $ 12.97
Number of Accumulation Shares outstanding at end of period 54,413 145,833 26,987 92,665
FUNDAMENTAL GROWTH
(Effective November 1, 2004, merged into "Large Cap Growth")
Accumulation Share Value:
Beginning of period (Note 1) $ 9.39 $ 7.20 $ 10.43 $ 10.00
End of period $ 8.97 $ 9.39 $ 7.20 $ 10.43
Number of Accumulation Shares outstanding at end of period - 46,190 33,826 64,187
SMALL CAP GROWTH

(Effective November 1, 2004, merged into "Small Cap Emerging Growth")
Accumulation Share Value:
Beginning of period (Note 1) $ 14.55 $ 11.49 $ 16.57 $ 10.00
End of period $ 14.43 $ 14.55 $ 11.49 $ 16.57
Number of Accumulation Shares outstanding at end of period - 24,095 29,369 50,072
OVERSEAS EQUITY B (formerly "International Opportunities" )
Accumulation Share Value:
Beginning of period (Note 1) $ 8.90 $ 6.79 $ 10.00
End of period $ 9.78 $ 8.90 $ 6.79 -
Number of Accumulation Shares outstanding at end of period 9,076 7,752 7,963 -
FINANCIAL INDUSTRIES (Note 2)
Accumulation Share Value:
Beginning of period $ 14.67 $ 11.76 $ 14.74 $ 18.06
End of period $ 15.79 $ 14.67 $ 11.76 $ 14.74
Number of Accumulation Shares outstanding at end of period 91,290 88,045 95,524 155,926
ACTIVE BOND
Accumulation Share Value:
Beginning of period (Note 1) $ 14.78 $ 14.02 $ 13.20 $ 10.00
End of period $ 15.33 $ 14.78 $ 14.02 $ 13.20
Number of Accumulation Shares outstanding at end of period 31,793 36,530 8,785 9,232
MONEY MARKET
Accumulation Share Value:
Beginning of period (Note 1) $ 12.16 $ 12.17 $ 12.11 $ 10.00
End of period $ 12.17 $ 12.16 $ 12.17 $ 12.11
Number of Accumulation Shares outstanding at end of period 17,913 23,367 28,641 20,225

YEAR YEAR YEAR YEAR
ENDED ENDED ENDED ENDED
DEC. 31 DEC. 31 DEC. 31 DEC. 31
2000 1999 1998 1997
---- ---- ---- ----

(Effective November 1, 2004, merged into "Small Cap Emerging Growth")
Accumulation Share Value:
Beginning of period (Note 1) - - - -
End of period - - - -
Number of Accumulation Shares outstanding at end of period
OVERSEAS EQUITY B (formerly "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 $ 14.35 $ 14.42 $ 13.41 $ 10.00
End of period $ 18.06 $ 14.35 $ 14.42 $ 13.41
Number of Accumulation Shares outstanding at end of period 115,989 93,950 149,851 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

YEAR YEAR YEAR YEAR
ENDED ENDED ENDED ENDED
DEC. 31 DEC. 31 DEC. 31 DEC. 31
2004 2003 2002 2001
---- ---- ---- ----

LARGE CAP GROWTH
Accumulation Share Value:
Beginning of period (Note 1) $ 6.97 Value date 11-1-04
End of period $ 7.52
Number of Accumulation Shares outstanding at end of period 34,293
SMALL CAP EMERGING GROWTH
Accumulation Share Value:
Beginning of period (Note 1) $ 8.52 Value date 11-1-04
End of period $ 9.34
Number of Accumulation Shares outstanding at end of period 23,421

YEAR YEAR YEAR YEAR
ENDED ENDED ENDED ENDED
DEC. 31 DEC. 31 DEC. 31 DEC. 31
2000 1999 1998 1997
---- ---- ---- ----

- ----------
(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.

ANNUITY SERVICE OFFICE MAILING ADDRESS
601 Congress Street Post Office Box 55106
Boston, Massachusetts 02210-2805 Boston, Massachusetts 02205- 5106
(617) 663-3000 or (800) 824-0335

Prospectus dated May 2, 2005
for interests in
John Hancock Variable Annuity Account JF

Interests are made available under

PATRIOT VARIABLE ANNUITY

a deferred combination fixed and variable annuity contract issued by
JOHN HANCOCK VARIABLE LIFE INSURANCE COMPANY

This 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:

Small Cap Growth
Financial Services
International Equity Index B
Overseas Equity
Large Cap Growth
Blue Chip Growth
Real Estate Securities
Mid Value
Growth & Income II
500 Index B
Equity-Income
Managed
High Yield
Global Bond
Bond Index B
Active Bond
Short-Term Bond
Money Market B

Additional information about the contract and the Account is contained in a
Statement of Additional Information, dated the same date as this Prospectus,
which has been filed with the SEC and is incorporated herein by reference. The
Statement of Additional Information is available without charge upon request by
writing us at the above address or by telephoning the number above. The SEC
maintains a Web site (http://www.sec.gov) that contains the Statement of
Additional Information and other information about us, the contracts and the
Account. We list the Table of Contents of the Statement of Additional
Information on page 3.

TABLE OF CONTENTS

GUIDE TO THIS PROSPECTUS.......................................................... 4
FEE TABLES........................................................................ 5
Examples...................................................................... 7
BASIC INFORMATION................................................................. 8
What is the Contract?.......................................................... 8
Who Owns the Contract?.......................................................... 8
Is the Owner also the Annuitant?................................................ 8
How can I Invest Money in a Contract?........................................... 8
Premium Payments.............................................................. 8
Applying for a Contract....................................................... 8
Limits on Premium Payments.................................................... 8
Ways to Make Premium Payments................................................. 9
Premium Payments by Wire...................................................... 9
How will the Value of My Investment in the Contract Change Over Time?........... 9
What Annuity Benefits does a Contract Provide?.................................. 10
To What Extent can JHVLICO Vary the Terms and Conditions of the Contracts?...... 10
State Law Insurance Requirements.............................................. 10
Variations in Charges or Rates................................................ 10
What are the Tax Consequences of Owning a Contract?............................. 10
How can I Change My Contract's Investment Allocations?.......................... 11
Allocation of Premium Payments................................................ 11
Transfers Among Investment Options............................................ 11
Procedure for Transferring Your Assets........................................ 12
Telephone and Facsimile Transactions.......................................... 12
Dollar Cost Averaging Program................................................. 13
What Fees and Charges will be Deducted from My Contract?........................ 13
Mortality and Expense Risk Charge............................................. 13
Administrative Services Charge................................................ 13
Annual Contract Fee........................................................... 13
Premium Taxes................................................................. 13
Withdrawal Charge............................................................. 13
Other Charges................................................................. 14
How can I Withdraw Money from My Contract?...................................... 14
Surrenders and Partial Withdrawals............................................ 14
Nursing Home Waiver of Withdrawal Charge...................................... 15
Systematic Withdrawal Plan.................................................... 15
Telephone Withdrawals......................................................... 15
What Happens if the Annuitant Dies Before My Contract's Date of Maturity?....... 15
Standard Death Benefit........................................................ 15
Enhanced Death Benefits....................................................... 16
"Stepped-Up" Death Benefit.................................................... 16
Accidental Death Benefit...................................................... 16
What Additional Guarantee Applies to the Guarantee Periods Under My Contract?... 16
What are the Terms of the Additional Guarantee?................................. 17
DESCRIPTION OF JHVLICO............................................................ 17
HOW TO FIND ADDITIONAL INFORMATION ABOUT JHVLICO AND JHFS......................... 17
HOW WE SUPPORT THE VARIABLE INVESTMENT OPTIONS.................................... 18
Information about the funds................................................... 18
DESCRIPTION OF CHARGES AT THE FUND LEVEL.......................................... 20
HOW WE SUPPORT THE GUARANTEE PERIODS.............................................. 20
HOW THE GUARANTEE PERIODS WORK.................................................... 21
Guaranteed Interest Rates..................................................... 21
Calculation of Market Value Adjustment ("MVA")................................ 21
THE ACCUMULATION PERIOD........................................................... 22
Your Value in Our Variable Investment Options................................. 22
Valuation of Accumulation Units............................................... 22
Your Value in the Guarantee Periods........................................... 22
THE ANNUITY PERIOD................................................................ 22
Date of Maturity.............................................................. 22
Choosing Fixed or Variable Annuity Payments................................... 23
Selecting an Annuity Option................................................... 23
Variable Monthly Annuity Payments............................................. 23
Assumed Investment Rate:..................................................... 23
Transfers During the Annuity Period.......................................... 23
Fixed Monthly Annuity Payments................................................ 24
Annuity Options............................................................... 24
VARIABLE INVESTMENT OPTION VALUATION PROCEDURES................................... 25
DISTRIBUTION REQUIREMENTS FOLLOWING DEATH OF OWNER................................ 25
MISCELLANEOUS PROVISIONS.......................................................... 25
Assignment; Change of Owner or Beneficiary.................................... 26
Who Should Purchase A Contract?................................................. 26
TAX INFORMATION................................................................... 26
Our Income Taxes.............................................................. 26
Special Considerations for Optional Benefit Riders............................ 27
Contracts Not Purchased to Fund a Tax Qualified Plan......................... 27
Undistributed Gains........................................................... 27
Annuity Payments.............................................................. 27
Surrenders, Withdrawals and Death Benefits.................................... 27
Penalty for Premature Withdrawals............................................. 28
Special Considerations for Puerto Rico Annuity Contracts...................... 28
Diversification Requirements.................................................. 28
Contracts Purchased for a Tax Qualified Plan.................................. 28
Tax-Free Rollovers............................................................ 29
Traditional IRAs.............................................................. 29
Roth IRAs..................................................................... 30
SIMPLE IRA Plans.............................................................. 30
Simplified Employee Pension Plans (SEPs)...................................... 30
Section 403(b) plans......................................................... 31
Pension and Profit Sharing Plans Qualified Under Section 401(a)............... 31
"Top-Heavy" Plans............................................................. 31

Section 457 Deferred Compensation Plans..................................... 31
Elective Deferral Limits.................................................... 32
Elective Catch-Up Limits.................................................... 32
Withholding on Rollover Distributions....................................... 32
Puerto Rico Annuity Contracts Purchased to Fund a Tax-Qualified Plan........ 32
See Your Own Tax Adviser.................................................... 32
PERFORMANCE INFORMATION......................................................... 33
REPORTS......................................................................... 33
VOTING PRIVILEGES............................................................... 33
CERTAIN CHANGES................................................................. 33
Changes to the Account...................................................... 33
Variations in Charges or Rates for Eligible Classes......................... 34
DISTRIBUTION OF CONTRACTS....................................................... 34
EXPERTS......................................................................... 35
REGISTRATION STATEMENT.......................................................... 35
APPENDIX A: Index of Key Words................................................ 36
APPENDIX B: Details About Our Guaranteed Periods............................... 37
APPENDIX C: Example of Withdrawal Charge Calculation........................... 39
APPENDIX U: Accumulation Unit Value Tables..................................... 2

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................................................... 3
CALCULATION OF ANNUITY PAYMENTS................................................. 4
ADDITIONAL INFORMATION ABOUT DETERMINING
UNIT VALUES..................................................................... 5
PURCHASES AND REDEMPTIONS OF FUND SHARES........................................ 6
THE ACCOUNT..................................................................... 6
DELAY OF CERTAIN PAYMENTS....................................................... 7
LIABILITY FOR TELEPHONE TRANSFERS............................................... 7
VOTING PRIVILEGES............................................................... 7
FINANCIAL STATEMENTS............................................................ 9

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.

Prospectuses for policies or contracts often undergo certain changes in their
terms from year to year to reflect changes in the policies or contracts. The
changes include such things as the liberalization of benefits, the exercise of
rights reserved under the policy or contract, the alteration of administrative
procedures and changes in the investment options available. Any such change may
or may not apply to policies or contracts issued prior to the effective date of
the change. This product prospectus reflects the status of the product as of May
2, 2005. Therefore, this prospectus may contain information that is inapplicable
to your policy or contract. Moreover, there may be Supplements and fund
prospectuses included in this package pertaining to variable investment options
that are not available to you. You should consult your policy or contract to
verify whether any particular provision applies to you and whether you may elect
any particular investment option. In the event of any conflict between this
prospectus and your policy or contract, the terms of your policy or contract
will control.

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.

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.

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

Maximum Withdrawal Charge (as % of amount withdrawn or surrendered) 6% for the first year
(1) 6% for the second year
5% for the third year
5% for the fourth year
4% for the fifth year
3% for the sixth year
2% for the seventh year
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 Charge: 0.90%
Administrative Services Charge: 0.35%
Total Separate Account Expenses 1.25%

CONTRACTS WITH INITIAL PREMIUM PAYMENT OF $250.000 OR MORE:
Mortality and Expense Risk Charge: 0.90%
Administrative Services Charge: 0.10%
Total Separate Account Expenses; 1.00%

OPTIONAL BENEFIT RIDER CHARGES(5)

Enhanced "Stepped Up" Death Benefit Rider 0.15% of your contract's total value
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.

TOTAL ANNUAL PORTFOLIO OPERATING EXPENSES MINIMUM MAXIMUM
- ----------------------------------------------------------------------- ------- -------

Range of expenses that are deducted from fund assets, including 0.50% 1.15%
management fees, , and other expenses

PORTFOLIO'S SERIES I SHARES FOR THE YEAR ENDED DECEMBER 31, 2004 (ADJUSTED TO
REFLECT THE ABSENCE OF ANY RULE 12B-1 FEE APPLICABLE TO THE NAV SHARES).

TOTAL
MANAGEMENT OTHER ANNUAL
PORTFOLIO FEES EXPENSES EXPENSES
- --------------------------------------------- ---------- -------- --------

JOHN HANCOCK TRUST - NAV shares
Small Cap Growth Trust(A) 1.08% 0.07% 1.15%
Financial Services Trust 0.88%(C) 0.08% 0.96%
International Equity Index Trust B (A) + (D) 0.55% 0.04% 0.59%
Overseas Equity Trust(A) 1.05% 0.09% 1.14%
Large Cap Growth Trust 0.85% 0.06% 0.91%
Blue Chip Growth Trust 0.82%(B) 0.04% 0.86%
Real Estate Securities Trust 0.70% 0.05% 0.75%
Mid Value Trust 1.01%(B) 0.07% 1.08%
Growth & Income II Trust (A) + 0.68% 0.03% 0.71%
500 Index Trust B(A) + (D) 0.47% 0.03% 0.50%
Equity-Income Trust 0.81%(B) 0.05% 0.86%
Managed Trust (A) + 0.73% 0.04% 0.77%
High Yield Trust 0.68% 0.07% 0.75%
Global Bond Trust 0.70% 0.10% 0.80%
Bond Index Trust B (A) + (D) 0.47% 0.03% 0.50%
Active Bond Trust (A) + 0.61% 0.04% 0.65%
Short-Term Bond Trust (A) + 0.58% 0.05% 0.63%
Money Market Trust B (A) + (D) 0.49% 0.04% 0.53%

(+) Commencement of operations -- April 29, 2005

(A) Based on estimates for the current fiscal year

(B) The Adviser has voluntarily agreed to waive a portion of its advisory fee
for the Science & Technology Trust, Health Sciences Trust, the Blue Chip Growth
Trust the Equity-Income Trust, the Mid Value Trust, and the Small Company Value
Trust. The waiver is based on the combined assets of these portfolios. Once
these combined assets exceed specified amounts, the fee reduction is increased.

MANAGEMENT TOTAL ANNUAL
PORTFOLIO FEES EXPENSES
- -------------------------- ---------- ------------

Blue Chip Growth Trust 0.79% 0.83%
Equity-Income Trust 0.78% 0.88%
Mid Value Trust 0.98% 1.30%

BETWEEN $50
FIRST $50 MILLION AND EXCESS OVER
PORTFOLIO MILLION* $500 MILLION* $500 MILLION*
- -------------------------- ---------- ------------- -------------

Financial Services Trust 0.85% 0.80% 0.75%

*as a percentage of average annual net assets.

If such advisory fee waiver were reflected, it is estimated that the advisory
fees ("Management Fees") and "Total Annual Expenses" would have been as follows:

MANAGEMENT TOTAL ANNUAL
PORTFOLIO FEES EXPENSES
- -------------------------- ---------- ------------

Financial Services Trust 0.83% 0.91%

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

If you surrender the contract at the end of the $816 $1,295 $1,802 $3,062
applicable time period:
If you annuitize, or do not surrender the contract $276 $ 848 $1,445 $3,062
at the end of the applicable time period:

Patriot Variable Annuity - minimum fund-level total operating expenses

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

If you surrender the contract at the end of the $720 $1,004 $1,313 $2,083
applicable time period:
If you annuitize, or do not surrender the contract $180 $ 557 $ 959 $2,083
at the end of the applicable time period:

BASIC INFORMATION

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

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

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 until the annuitant reaches age 84
1/2. However,

YOU MAY NOT MAKE ANY PREMIUM PAYMENTS
IF YOUR CONTRACT IS USED TO FUND AFTER THE ANNUITANT REACHES AGE
- -------------------------------- -------------------------------------

a "tax qualified plan" 1 70 1/2 (2)
a non-tax qualified plan 85

(1) as that term is used in "Tax Information," beginning on page 32.

(2) 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" and sent to the Annuity Service
Center

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:

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.

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.

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?

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

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 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

TRANSFERS AMONG INVESTMENT OPTIONS

During the accumulation period, you may transfer amounts held in one investment
option to any other investment option, up to the above-mentioned maximum of 18
investment options and subject to the restrictions set forth below. During the
annuity period, you may make transfers to or from variable investment options
that will result in no more than 4 investment options being used at once. You
may not make any transfers during the annuity period, however, to or from a
fixed annuity payment option.

We have adopted a policy and procedures to restrict frequent transfers of
contract value among variable investment options. Investment options in variable
annuity and variable life insurance products can be a prime target for abusive
transfer activity because these products value their investment options on a
daily basis and allow transfers among investment options without immediate tax
consequences. As a result, some investors may seek to frequently transfer into
and out of Funds underlying investment options in reaction to market news or to
exploit some perceived pricing inefficiency. Whatever the reason, long-term
investors in a Fund can be harmed by frequent transfer activity since such
activity may expose a Fund to increased portfolio transaction costs (affecting
the value of the shares) and disruption to management of a Fund (affecting a
subadviser's ability to effectively manage a Fund's investment portfolio in
accordance with the Fund's investment objective and policies), both of which may
result in dilution with respect to interests held for long-term investment.

period (these transfers are subject to a 30 day notice requirement, however, as
described in the "Transfers during the annuity period" section of this
Prospectus). Under the Account's policy and procedures, Contract owners may
transfer to a Money Market investment option even if the two transfer per month
limit has been reached if 100% of the contract value is transferred to that
Money Market investment option. If such a transfer to a Money Market investment
option is made, for a 30 calendar day period after such transfer, no subsequent
transfers from that Money Market investment option to another variable
investment option may be made. We apply the Account's policy and procedures
uniformly to all contract owners.

We reserve the right to take other actions at any time to restrict trading,
including, but not limited to:

- restricting the number of transfers made during a defined period,

- restricting the dollar amount of transfers,

- restricting the method used to submit transfers (e.g., changing
telephone and facsimile procedures to require that transfer requests
be submitted in writing via U.S. mail), and

- restricting transfers into and out of certain subaccounts.

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 one of the locations shown on page
2. Your request should include:

- 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 AND FACSIMILE TRANSACTIONS

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.

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).

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

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.

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 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.

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
11, 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.

Telephone Withdrawals

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

STANDARD DEATH BENEFIT

- 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 BENEFITS

"STEPPED-UP" DEATH BENEFIT

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.
Under this benefit, 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

You may elect this benefit ONLY when you apply for the contract and ONLY if this
benefit is available in your state. As long as the benefit 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?"

ACCIDENTAL DEATH BENEFIT

- the contract's date of maturity, and

- the annuitant's 80th birthday.

Under this benefit, 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 benefit ONLY when you apply for the contract. As long as the
benefit 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 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?

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?

DESCRIPTION OF JHVLICO

We are a wholly-owned subsidiary of John Hancock Life Insurance Company
("JHLICO"), 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,
JHLICO became a subsidiary of John Hancock Financial Services, Inc., a newly
formed publicly-traded corporation. In April 2004, John Hancock Financial
Services, Inc. was merged with a subsidiary of Manulife Financial Corporation, a
publicly-traded corporation organized under the laws of Canada. The merger was
effected pursuant to an Agreement and Plan of Merger dated as of September 28,
2003. As a consequence of the merger, JHLICO's ultimate parent is now Manulife
Financial Corporation. JHLICO's home office is at John Hancock Place, Boston,
Massachusetts 02117. As of December 31, 2003, JHLICO's assets were approximately
$100 billion and it had invested approximately $1.9 billion in JHVLICO in
connection with JHVLICO's organization and operation. It is anticipated that
JHLICO 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. JHLICO 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, 2004;

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

INFORMATION ABOUT THE FUNDS.

The funds available under the contracts are as follows:

PORTFOLIO PORTFOLIO MANAGER INVESTMENT DESCRIPTION
- ------------------------ ----------------------- ------------------------------------------

SMALL CAP GROWTH TRUST Wellington Management under normal market conditions, primarily
Company, LLP in small-cap Seeks long-term capital
appreciation by investing, companies that
are believed to offer above average
potential for growth in revenues and
earnings.

FINANCIAL SERVICES TRUST Davis Advisors seeks growth of capital by investing
primarily in common stocks of financial
companies. During normal market conditions,
at least 80% of the portfolio's net assets
(plus any borrowings for investment
purposes) are invested in companies that
are principally engaged in financial
services. A company is "principally
engaged" in financial services if it owns
financial services-related assets
constituting at least 50% of the value of
its total assets, or if at least 50% of its
revenues are derived from its provision of
financial services.

INTERNATIONAL EQUITY SSgA Funds seeks to track the performance of a broad-based
INDEX TRUST B Management, Inc. equity index of foreign companies primarily in
developed countries and, to a lesser
extent, in emerging market countries by
investing, under normal market conditions,
at least 80% of its assets in securities
listed in the Morgan Stanley Capital
International All Country World Excluding
U.S. Index

PORTFOLIO PORTFOLIO MANAGER INVESTMENT DESCRIPTION
- ------------------------ ----------------------- ------------------------------------------

OVERSEAS EQUITY TRUST Capital Guardian seeks long-term capital appreciation by
Trust Company investing, under normal market conditions, at least
80% of its assets in equity securities of
companies outside the U.S. in a diversified
mix of large established and medium-sized
foreign companies located primarily in
developed countries and, to a lesser
extent, in emerging markets.

LARGE CAP GROWTH TRUST Fidelity Management & seeks long-term growth of capital by investing,
Research Company under normal market conditions, at least 80% of
its net assets (plus any borrowings for
investment purposes) in equity securities
of companies with large market
capitalizations.

BLUE CHIP GROWTH TRUST T. Rowe Price seeks to achieve long-term growth of capital
Associates, Inc. (current income is a secondary objective) by
investing, under normal market conditions,
at least 80% of the portfolio's total
assets in the common stocks of large and
medium-sized blue chip growth companies.
Many of the stocks in the portfolio are
expected to pay dividends.

REAL ESTATE SECURITIES Deutsche Asset seeks to achieve a combination of long-term
TRUST Management Inc. capital appreciation and current income by
investing, under normal market conditions,
at least 80% of its net assets (plus any
borrowings for investment purposes) in
equity securities of real estate investment
trusts ("REITS") and real estate companies.

MID VALUE TRUST T. Rowe Price seek long-term capital appreciation by investing,
Associates, Inc. under normal market conditions, primarily in a
diversified mix of common stocks of mid
size U.S. companies that are believed to be
undervalued by various measures and offer
good prospects for capital appreciation.

GROWTH & INCOME II TRUST Independence seeks income and long-term capital
Investment LLC appreciation by investing, under normal market
conditions, primarily in a diversified mix of common
stocks of large U.S. companies.

500 INDEX TRUST B MFC Global Investment seeks to approximate the aggregate total
Management (U.S.A.) return of a broad U.S. domestic equity
Limited market index investing, under normal market
conditions, at least 80% of its net assets (plus
any borrowings for investment purposes) in (a) the
common stocks that are included in the S & P 500
Index and (b) securities (which may or may
not be included in the S & P 500 Index)
that MFC Global (U.S.A.) believes as a
group will behave in a manner similar to
the index.

EQUITY-INCOME TRUST T. Rowe Price seeks to provide substantial dividend
Associates, Inc. income and also long-term capital appreciation
by investing primarily in dividend-paying common
stocks, particularly of established companies with
favorable prospects for both increasing
dividends and capital appreciation.

MANAGED TRUST Independence seeks income and long-term capital
Investment LLC appreciation by investing primarily in a diversified
mix of: (a) common stocks of large and mid sized U.S.
Capital Guardian companies, and (b) bonds with an overall intermediate
Trust Company term average maturity.

Declaration
Management & Research
LLC

PORTFOLIO PORTFOLIO MANAGER INVESTMENT DESCRIPTION
- ------------------------ ----------------------- ------------------------------------------

HIGH YIELD TRUST Saloman Brothers seeks to realize an above-average total
Asset Management Inc return over a market cycle of three to five
years, consistent with reasonable risk, by
investing primarily in high yield debt
securities, including corporate bonds and
other fixed-income securities.

GLOBAL BOND TRUST Pacific Investment seeks to realize maximum total return,
Management Company consistent with preservation of capital
and prudent investment management by
investing the portfolio's assets primarily
in fixed income securities denominated in major
foreign currencies, baskets of foreign
currencies (such as the ECU), and the U.S.
dollar.

BOND INDEX TRUST B Declaration seeks to track the performance of the Lehman
Management & Research Brothers Aggregate Index (which represents the U.S.
investment grade bond market) by investing,
under normal market conditions, at least
80% of its assets in securities listed in
the Lehman Index.

ACTIVE BOND TRUST Declaration seek income and capital appreciation by
Management & Research investing at least 80% of its assets in a
LLC diversified mix of debt securities and instruments.

John Hancock
Advisers, LLC

SHORT-TERM BOND TRUST Declaration Seeks income and capital appreciation by
Management & Research investing at least 80% of its assets in a
LLC diversified mix of debt securities and instruments.

MONEY MARKET TRUST B MFC Global Investment Seeks to obtain maximum current income consistent
Management (U.S.A.) with preservation of principal and liquidity by
Limited investing in high quality, U.S. Dollar denominated
money market instruments.

DESCRIPTION OF CHARGES AT THE FUND LEVEL

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

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

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

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

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

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.

Transfers During the Annuity Period

Some transfers are permitted during the annuity period, but subject to different
limitations than during the accumulation period.

Once annuity payments on a variable basis have begun, you may transfer all or
part of the investment upon which those payments are based from one sub-account
to another. You must submit your transfer request to our Annuity Service Office
at least 30 days before the due date of the first annuity payment to which your
transfer will apply. Transfers after the maturity date will be made by
converting the number of annuity units being transferred to the number of
annuity units of the sub-account to which the transfer is made, so that the next
annuity payment if it were made at that time would be the same amount that it
would have been without the transfer. Thereafter, annuity benefit payments will
reflect changes in the value of the annuity units for the new sub-account
selected. We limit the maximum number of transfers a contract owner may make per
contract year , subject to a limit of 4 investment options being open at once.
Once annuity benefit payments begin, no transfers may be made from payments on a
fixed basis to payments on a variable basis or from payments on a variable basis
to payments on a fixed basis. In addition, we reserve the right to defer the
transfer privilege at any time that we are unable to purchase or redeem shares
of a Fund. We also reserve the right to modify or terminate the transfer
privilege at any time in accordance with applicable law.

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

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.

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.

(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 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.

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.

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

CONTRACTS NOT PURCHASED TO FUND A TAX QUALIFIED PLAN

UNDISTRIBUTED GAINS

ANNUITY PAYMENTS

SURRENDERS, WITHDRAWALS AND DEATH BENEFITS

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).

SPECIAL CONSIDERATIONS FOR PUERTO RICO ANNUITY CONTRACTS

DIVERSIFICATION REQUIREMENTS

CONTRACTS PURCHASED FOR A TAX QUALIFIED PLAN

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

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."

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

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

SIMPLIFIED EMPLOYEE PENSION PLANS (SEPS)

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)

"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

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

SEE YOUR OWN TAX ADVISER

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 surrenders his contract at the
end of the relevant period.

We may advertise "current yield" and "effective yield" for investments in a
money market variable 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, 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

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

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.

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
policies and/or other events or activities sponsored by the financial services
firms. As a consequence of such additional compensation, representatives and
financial services, including but not limited to Signator and its
representatives, may be motivated to sell our contracts instead of contracts
issued by other insurance companies.

EXPERTS

Ernst & Young LLP, independent registered public accounting firm, have audited
the consolidated financial statements and schedules of John Hancock Variable
Life Insurance Company at December 31, 2004, and 2003 and for each of the three
years in the period ended December 31, 2003, and the financial statements of the
Account at December 31, 2004 and for each of the periods indicated therein, as
set forth in their reports. We've included these financial statements 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 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:

APPENDIX A: 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................................................................ 13
Annuity period.................................................................. 13
Business day.................................................................... 10
Contract year................................................................... 11
Date of issue................................................................... 11
Date of maturity................................................................ 29
Extra Credits................................................................... 13
Free withdrawal amount.......................................................... 17
Funds........................................................................... 2
Guarantee period................................................................ 12
Investment options.............................................................. 14
Market value adjustment......................................................... 12
Premium payments................................................................ 10
Surrender....................................................................... 16
Surrender value................................................................. 17
Total value of your contract.................................................... 12
Variable investment options..................................................... cover
Withdrawal charge............................................................... 16
Withdrawal...................................................................... 16

APPENDIX B: 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)/(1+c+0.005)](n/12)-1

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 guarantee (c) 3%
Remaining guarantee period (n) 36 months

MARKET VALUE ADJUSTMENT:

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

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

SAMPLE CALCULATION 2: NEGATIVE ADJUSTMENT

MARKET VALUE ADJUSTMENT:

10,000*[{(1+0.04)/(1+0.05+0.005)}(36/12)-1] = 420.50

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 C: 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.

$ 6,000.00 -- withdrawal request payable to you
+ 272.23 -- withdrawal charge payable to us
------------
$ 6,272.23 -- total amount withdrawn from your contract

HERE IS HOW WE DETERMINE THE WITHDRAWAL CHARGE:

(1) We first reduce your $5000 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.

$ 5,000

- 30 -- 1998 contract fee payable to us
- 30 -- 1999 contract fee payable to us
- 30 -- 2000 contract fee payable to us
---------
$ 4,910 -- amount of your initial premium payment we would
consider to be withdrawn

$ 4,910.00

- 900.00 -- free withdrawal amount (payable to you)
------------
$ 4,010.00
x .05
------------
$ 200.50 -- withdrawal charge on initial premium payment
(payable to us)

$ 4,010.00
- 200.50
------------
$ 3,809.50 -- 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.

$ 1,000
x .05
---------
$ 50 -- withdrawal charge on 1998 premium payment (payable
to us)

$ 1,000
- 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 1999 premium payment. Therefore, $340.50 is
needed to reach $6000.

$ 6,000.00 -- total withdrawal amount requested
- 900.00 -- free withdrawal amount
- 3,809.50 -- payment deemed from initial premium payment
- 950.00 -- payment deemed from 1998 premium payment
------------
$ 340.50 -- additional payment to you needed to reach $ 6000

Remainder due to you = Withdrawal needed - applicable withdrawal charge
percentage times withdrawal needed

$ 340.50 = x - .06x
$ 340.50 = .94x

$ 340.50/0.94 = 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

APPENDIX U: ACCUMULATION UNIT VALUE TABLES

CONDENSED FINANCIAL INFORMATION

JOHN HANCOCK VARIABLE ANNUITY ACCOUNT JF

The following table provides selected data for Patriot 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 YEAR YEAR YEAR YEAR YEAR YEAR YEAR
ENDED ENDED ENDED ENDED ENDED ENDED ENDED ENDED
DEC. 31 DEC. 31 DEC. 31 DEC. 31 DEC. 31 DEC. 31 DEC. 31 DEC. 31
2004 2003 2002 2001 2000 1999 1998 1997
-------------------------------------------------------------------------

EQUITY INDEX
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 9.08 $ 7.16 $ 9.33 $ 10.74 $ 11.97 $ 10.00 -- --
End of period ............................ $ 9.93 $ 9.08 $ 7.16 $ 9.33 $ 10.74 $ 11 .97 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 47,638 51,022 60,758 84,207 115,506 110,398 -- --
LARGE CAP VALUE
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 12.08 $ 9.75 $ 11.38 $ 11.38 $ 10.20 $ 10.00 -- --
End of period ............................ $ 13.72 $ 12.08 $ 9.75 $ 11.38 $ 11.38 $ 10.20 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 35,552 40,103 45,084 69,954 80,984 101,992 -- --
LARGE CAP GROWTH
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 7.19 $ 5.79 $ 8.13 $ 9.98 $ 12.31 $ 10.00 -- --
End of period ............................ $ 7.41 $ 7.19 $ 5.79 $ 8.13 $ 9.98 $ 12.31 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 59,258 50,560 53,908 74,845 86,341 72,822 -- --
EARNINGS GROWTH
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 7.10 $ 5.76 $ 8.63 $ 13.85 $ 21.87 $ 10.00 -- --
End of period ............................ $ 7.20 $ 7.10 $ 5.76 $ 8.63 $ 13.85 $ 21.87 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 78,767 90,017 98,370 112,159 154,934 143,380
GROWTH & INCOME
Accumulation Share Value:
Beginning of period (Note 2) ............. $ 6.95 $ 5.66 $ 7.36 $ 10.00 -- -- -- --
End of period ............................ $ 7.61 $ 6.95 $ 5.66 $ 7.36 -- -- -- --
Number of Accumulation Shares outstanding
at end of period .......................... 283,703 306,082 182,202 225,112 -- -- -- --
FUNDAMENTAL VALUE
Accumulation Share Value:
Beginning of period (Note 2) ............. $ 11.12 $ 8.75 $ 10.73 $ 10.00 -- -- -- --
End of period ............................ $ 12.70 $ 11.12 $ 8.75 $ 10.73 -- -- -- --
Number of Accumulation Shares outstanding
at end of period .......................... 22,289 21,714 23,612 30,710 -- -- -- --
FUNDAMENTAL GROWTH
(Effective November 1, 2004, merged into
"Large Cap Growth")
Accumulation Share Value:
Beginning of period (Note 2) ............. $ 8.84 $ 6.79 $ 9.86 $ 10.00 -- -- -- --
End of period ............................ $ 8.43 $ 8.84 $ 6.79 $ 9.86 -- -- -- --
Number of Accumulation Shares outstanding
at end of period .......................... -- 11,404 10,008 24,747 -- -- -- --

MID CAP VALUE B (formerly
"Small/Mid Cap CORE")
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 14.73 $ 10.27 $ 12.27 $ 12.36 $ 11.96 $ 10.00 -- --
End of period ............................ $ 17.27 $ 14.73 $ 10.27 $ 12.27 $ 12.36 $ 11.96 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 16,112 16,311 15,084 19,421 16,718 12,272 -- --
SMALL CAP GROWTH

(Effective November 1, 2004, merged into
"Small Cap Emerging Growth")
Accumulation Share Value:
Beginning of period (Note 2) ............. $ 12.39 $ 9.81 $ 14.19 $ 10.00 -- -- -- --
End of period ............................ $ 12.27 $ 12.39 $ 9.81 $ 14.19 -- -- -- --
Number of Accumulation Shares outstanding
at end of period .......................... -- 29,375 31,651 35,009 -- -- -- --
SMALL CAP EMERGING GROWTH
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 8.52 $ 5.79 $ 8.17 $ 8.60 $ 9.56 $ 10.00 -- --
End of period ............................ $ 9.21 $ 8.52 $ 5.79 $ 8.17 $ 8.60 $ 9.56 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 48,346 12,101 14,125 12,245 16,236 14,326 -- --
INTERNATIONAL EQUITY INDEX
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 9.49 $ 6.77 $ 8.08 $ 10.27 $ 12.59 $ 10.00 -- --
End of period ............................ $ 11.27 $ 9.49 $ 6.77 $ 8.08 $ 10.27 $ 12.59 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 10,689 10,664 13,070 14,510 19,558 18,759 -- --
OVERSEAS EQUITY B (formerly "International
Opportunities")
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 8.79 $ 6.72 $ 8.33 $ 10.66 $ 12.91 $ 10.00 -- --
End of period ............................ $ 9.64 $ 8.79 $ 6.72 $ 8.33 $ 10.66 $ 12.91 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 43,870 38,739 42,177 48,242 50,459 21,856 -- --
OVERSEAS EQUITY
(Effective November 1, 2004, merged into
"Overseas Equity B
(formerly"International Opportunities")")
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 10.76 $ 7.79 $ 8.42 $ 9.12 $ 10.16 $ 10.00 -- --
End of period ............................ $ 11.01 $ 10.76 $ 7.79 $ 8.42 $ 9.12 $ 10.16 -- --
Number of Accumulation Shares outstanding
at end of period .......................... -- 6,486 4,448 4,508 5,357 6,608 -- --
OVERSEAS EQUITY C (formerly "Emerging
Markets Equity")
(Effective November 1, 2004, merged into
"Overseas Equity B
(formerly"International Opportunities")")
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 14.06 $ 9.07 $ 9.85 $ 10.35 $ 17.48 $ 10.00 -- --
End of period ............................ $ 15.37 $ 14.06 $ 9.07 $ 9.85 $ 10.35 $ 17.48 -- --
Number of Accumulation Shares outstanding
at end of period .......................... -- 6,003 8,809 7,313 7,636 8,609 -- --
REAL ESTATE EQUITY
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 17.72 $ 13.11 $ 13.10 $ 12.54 $ 9.60 $ 10.00 -- --
End of period ............................ $ 23.89 $ 17.72 $ 13.11 $ 13.10 $ 12.54 $ 9.60 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 6,087 6,937 3,182 2,869 2,599 2,363 -- --

FINANCIAL INDUSTRIES (NOTE 3)
Accumulation Share Value:
Beginning of period ...................... $ 14.43 $ 11.60 $ 14.58 $ 17.90 $ 14.25 $ 14.36 $ 13.39 $ 10.00
End of period ............................ $ 15.49 $ 14.43 $ 11.60 $ 14.58 $ 17.90 $ 14.25 $ 14.36 $ 13.39
Number of Accumulation Shares outstanding
at end of period .......................... 22,357 24,757 29,786 44,296 59,272 59,300 1,826,652 645,730
MANAGED
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 10.31 $ 8.77 $ 10.24 $ 10.67 $ 10.80 $ 10.00 -- --
End of period ............................ $ 11.02 $ 10.31 $ 8.77 $ 10.24 $ 10.67 $ 10.80 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 16,131 17,668 19,124 20,975 26,890 25,357 -- --
SHORT-TERM BOND
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 12.26 $ 12.08 $ 11.57 $ 10.84 $ 10.17 $ 10.00 -- --
End of period ............................ $ 12.28 $ 12.26 $ 12.08 $ 11.57 $ 10.84 $ 10.17 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 7,734 7,829 5,826 6,019 6,207 5,058 -- --
BOND INDEX
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 12.58 $ 12.29 $ 11.32 $ 10.64 $ 9.63 $ 10.00 -- --
End of period ............................ $ 12.92 $ 12.58 $ 12.29 $ 11.32 $ 10.64 $ 9.63 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 7,901 9,232 18,388 14,281 19,106 22,733 -- --
ACTIVE BOND
Accumulation Share Value:
Beginning of period (Note 2) ............. $ 11.57 $ 11.00 $ 10.39 $ 10.00 -- -- -- --
End of period ............................ $ 11.97 $ 11.57 $ 11.00 $ 10.39 -- -- -- --
Number of Accumulation Shares outstanding
at end of period .......................... 55,188 65,067 22,897 22,387 -- -- -- --
HIGH YIELD BOND
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 9.98 $ 8.67 $ 9.19 $ 9.11 $ 10.35 $ 10.00 -- --
End of period ............................ $ 10.66 $ 9.98 $ 8.67 $ 9.19 $ 9.11 $ 10.35 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 5,093 6,395 11,108 9,657 10,644 11,541 -- --
GLOBAL BOND
Accumulation Share Value:
Beginning of period (Note 1) ............. $ 13.96 $ 12.20 $ 10.39 $ 10.68 $ 9.65 $ 10.00 -- --
End of period ............................ $ 15.26 $ 13.96 $ 12.20 $ 10.39 $ 10.68 $ 9.65 -- --
Number of Accumulation Shares outstanding
at end of period .......................... 9,431 9,647 11,396 5,140 8,203 8,837 -- --
MONEY MARKET
Accumulation Share Value:
Beginning of period (Note 2) ............. $ 10.12 $ 10.15 $ 10.12 $ 10.00 -- -- -- --
End of period ............................ $ 10.10 $ 10.12 $ 10.15 $ 10.12 -- -- -- --
Number of Accumulation Shares outstanding
at end of period .......................... 63,446 62,638 67,782 53,661 -- -- -- --

- -------------
(1) Values shown for 1999 begin on May 3, 1999.

(2) Values shown for 2001 begin on November 15, 2001.

(3) Values shown for Financial Industries begin on April 30, 1997 and are
based on Account holdings of the predecessor fund.

CONDENSED FINANCIAL INFORMATION

JOHN HANCOCK VARIABLE ANNUITY ACCOUNT JF

The following table provides selected data for 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.

EQUITY INDEX
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 9.20 $ 7.23 $ 9.41 $ 10.79 $ 12.00 $ 10.00 -- --
End of period ............................................. $ 10.08 $ 9.20 $ 7.23 $ 9.41 $ 10.79 $ 12.00 -- --
Number of Accumulation Shares outstanding at end of period .. 4,262 75,959 75,959 79,909 79,917 61,962 -- --
LARGE CAP VALUE
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 12.23 $ 9.84 $ 11.46 $ 11.44 $ 10.22 $ 10.00 -- --
End of period ............................................. $ 13.93 $ 12.23 $ 9.84 $ 11.46 $ 11.44 $ 10.22 -- --
Number of Accumulation Shares outstanding at end of period .. 22,174 54,141 54,818 47,784 47,784 36,375 -- --
LARGE CAP GROWTH
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 7.28 $ 5.85 $ 8.19 $ 10.03 $ 12.34 $ 10.00 -- --
End of period ............................................. $ 7.52 $ 7.28 $ 5.85 $ 8.19 $ 10.03 $ 12.34 -- --
Number of Accumulation Shares outstanding at end of period .. 17,276 12,579 13,586 48,418 49,959 38,907 -- --
EARNINGS GROWTH
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 7.19 $ 5.82 $ 8.69 $ 13.92 $ 21.92 $ 10.00 -- --
End of period ............................................. $ 7.31 $ 7.19 $ 5.82 $ 8.69 $ 13.92 $ 21.92 -- --
Number of Accumulation Shares outstanding at end of period .. 7,532 20,004 20,872 14,866 20,511 27,163 -- --
GROWTH & INCOME
Accumulation Share Value:
Beginning of period (Note 2) .............................. $ 12.30 $ 9.99 $ 12.97 $ 10.00 -- -- -- --
End of period ............................................. $ 13.52 $ 12.30 $ 9.99 $ 12.97 -- -- -- --
Number of Accumulation Shares outstanding at end of period .. 15,633 16,765 11,472 17,169 -- -- -- --
FUNDAMENTAL VALUE
Accumulation Share Value:
Beginning of period (Note 2) .............................. $ 9.76 $ 7.66 $ 9.37 $ 10.00 -- -- -- --
End of period ............................................. $ 11.17 $ 9.76 $ 7.66 $ 9.37 -- -- -- --
Number of Accumulation Shares outstanding at end of period .. -- 50,632 50,632 50,632 -- -- -- --
FUNDAMENTAL GROWTH
(Effective November 1, 2004, merged into "Large Cap Growth")
Accumulation Share Value:
Beginning of period (Note 2) .............................. $ 9.39 $ 7.20 $ 10.43 $ 10.00 -- -- -- --
End of period ............................................. $ 8.97 $ 9.39 $ 7.20 $ 10.43 -- -- -- --
Number of Accumulation Shares outstanding at end of period .. -- 5,248 5,264 8,119 -- -- -- --

MID CAP VALUE B (formerly "Small/Mid Cap CORE")
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 14.91 $ 10.38 $ 12.36 $ 12.42 $ 11.99 $ 10.00 -- --
End of period ............................................. $ 17.53 $ 14.91 $ 10.38 $ 12.36 $ 12.42 $ 11.99 -- --
Number of Accumulation Shares outstanding at end of period .. 9,924 4,305 5,358 6,506 6,516 5,870 -- --
SMALL CAP GROWTH
(Effective November 1, 2004, merged into "Small Cap Emerging
Growth")
Accumulation Share Value:
Beginning of period (Note 2) .............................. $ 14.55 $ 11.49 $ 16.57 $ 10.00 -- -- -- --
End of period ............................................. $ 14.43 $ 14.55 $ 11.49 $ 16.57 -- -- -- --
Number of Accumulation Shares outstanding at end of period .. -- 2,478 2,478 2,702 -- -- -- --
SMALL CAP EMERGING GROWTH
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 8.62 $ 5.85 $ 8.23 $ 8.64 $ 9.58 $ 10.00 -- --
End of period ............................................. $ 9.34 $ 8.62 $ 5.85 $ 8.23 $ 8.64 $ 9.58 -- --
Number of Accumulation Shares outstanding at end of period .. 4,203 7,749 8,574 -- -- 1,452 -- --
INTERNATIONAL EQUITY INDEX
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 9.61 $ 6.84 $ 8.14 $ 10.32 $ 12.62 $ 10.00 -- --
End of period ............................................. $ 11.44 $ 9.61 $ 6.84 $ 8.14 $ 10.32 $ 12.62 -- --
Number of Accumulation Shares outstanding at end of period .. 8,050 8,075 8,099 8,123 8,148 -- -- --
OVERSEAS EQUITY B (formerly "International Opportunities")
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 8.90 $ 6.79 $ 8.39 $ 10.72 $ 12.94 $ 10.00 -- --
End of period ............................................. $ 9.78 $ 8.90 $ 6.79 $ 8.39 $ 10.72 $ 12.94 -- --
Number of Accumulation Shares outstanding at end of period .. 5,820 4,791 6,084 7,494 7,506 5,408 -- --
OVERSEAS EQUITY
(Effective November 1, 2004, merged into "Overseas Equity B
(formerly"International Opportunities")")
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 10.90 $ 7.87 $ 8.49 $ 9.16 $ 10.18 $ 10.00 -- --
End of period ............................................. $ 11.18 $ 10.90 $ 7.87 $ 8.49 $ 9.16 $ 10.18 -- --
Number of Accumulation Shares outstanding at end of period .. -- -- -- -- -- -- -- --
OVERSEAS EQUITY C (formerly "Emerging Markets Equity")
(Effective November 1, 2004, merged into "Overseas Equity B
(formerly"International Opportunities")")
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 14.24 $ 9.17 $ 9.93 $ 10.40 $ 17.52 $ 10.00 -- --
End of period ............................................. $ 15.60 $ 14.24 $ 9.17 $ 9.93 $ 10.40 $ 17.52 -- --
Number of Accumulation Shares outstanding at end of period .. -- -- -- -- -- -- -- --

REAL ESTATE EQUITY
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 17.95 $ 13.24 $ 13.20 $ 12.61 $ 9.63 $ 10.00 -- --
End of period ............................................. $ 24.26 $ 17.95 $ 13.24 $ 13.20 12.61 $ 9.63 -- --
Number of Accumulation Shares outstanding at end of period .. 10,542 11,719 11,722 11,726 11,730 11,845 -- --
FINANCIAL INDUSTRIES (NOTE 3)
Accumulation Share Value:
Beginning of period ....................................... $ 14.67 $ 11.76 $ 14.75 $ 18.06 $ 14.35 $ 14.42 $ 13.41 $ 10.00
End of period ............................................. $ 15.79 $ 14.67 $ 11.76 $ 14.75 $ 18.06 $ 14.35 $ 14.42 $ 13.41
Number of Accumulation Shares outstanding at end of period .. 5,074 7,562 10,776 15,026 13,558 17,470 149,851 73,106
MANAGED
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 10.44 $ 8.86 $ 10.32 $ 10.72 $ 10.83 $ 10.00 -- --
End of period ............................................. $ 11.18 $ 10.44 $ 8.86 $ 10.32 $ 10.72 $ 10.83 -- --
Number of Accumulation Shares outstanding at end of period .. -- -- -- -- -- -- -- --
SHORT-TERM BOND
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 12.41 $ 12.20 $ 11.66 $ 10.89 $ 10.19 $ 10.00 -- --
End of period ............................................. $ 12.46 $ 12.41 $ 12.20 $ 11.66 $ 10.89 $ 10.19 -- --
Number of Accumulation Shares outstanding at end of period .. -- -- -- -- -- 4,987 -- --
BOND INDEX
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 12.74 $ 12.42 $ 11.41 $ 10.66 $ 9.66 $ 10.00 -- --
End of period ............................................. $ 13.12 $ 12.74 $ 12.42 $ 11.41 $ 10.66 $ 9.66 -- --
Number of Accumulation Shares outstanding at end of period .. 9,826 9,826 9,826 9,826 9,826 9,826 -- --
ACTIVE BOND
Accumulation Share Value:
Beginning of period (Note 2) .............................. $ 14.78 $ 14.02 $ 13.20 $ 10.00 -- -- -- --
End of period ............................................. $ 15.33 $ 14.78 $ 14.02 $ 13.20 -- -- -- --
Number of Accumulation Shares outstanding at end of period .. 13,113 24,515 24,867 12,777 -- -- -- --
HIGH YIELD BOND
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 10.10 $ 8.76 $ 9.26 $ 9.16 $ 10.38 $ 10.00 -- --
End of period ............................................. $ 10.82 $ 10.10 $ 8.76 $ 9.26 $ 9.16 $ 10.38 -- --
Number of Accumulation Shares outstanding at end of period .. -- 6,229 2,466 2,470 2,473 2,423 -- --
GLOBAL BOND
Accumulation Share Value:
Beginning of period (Note 1) .............................. $ 14.14 $ 12.32 $ 10.47 $ 10.73 $ 9.68 $ 10.00 -- --
End of period ............................................. $ 15.49 $ 14.14 $ 12.32 $ 10.47 $ 10.73 $ 9.68 -- --
Number of Accumulation Shares outstanding at end of period .. -- -- -- -- -- -- -- --

MONEY MARKET
Accumulation Share Value:
Beginning of period (Note 2) .............................. $ 12.16 $ 12.17 $ 12.11 $ 10.00 -- -- -- --
End of period ............................................. $ 12.17 $ 12.16 $ 12.17 $ 12.11 -- -- -- --
Number of Accumulation Shares outstanding at end of period .. 65,316 83,691 86,772 92,991 -- -- -- --

- ------------
(1) Values shown for 1999 begin on May 3, 1999.

(2) Values shown for 2001 begin on November 15, 2001.

(3) Values shown for Financial Industries begin on April 30, 1997 and are
based on Account holdings of the predecessor fund.