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John Hancock Life Insurance Review
By cassidy MONEY RESEARCH COLLECTIVE
John Hancock is one of the most popular life insurance companies in the United States, providing customers with term and universal policies that pay up to $65 million in death benefits. However, you can’t request a life insurance quote online, and the company ranked #18 out of 22 on J.D. Power’s latest customer satisfaction survey, suggesting there may be better life insurance providers out there.
Table of contents
- John Hancock’s services
- John Hancock’s credentials
- John Hancock’s accessibility
- John Hancock’s customer satisfaction
- John Hancock vs. the competition
John Hancock life insurance overview
John Hancock Life Insurance is one of the oldest and most trusted providers of life insurance in the United States. Founded in 1862 and based in Boston, Massachusetts, it’s been helping families and individuals protect their financial futures for over 160 years.
John Hancock’s services
John Hancock specializes in two types of life insurance: term life insurance and permanent life insurance. Beyond that, you can customize your policy with various riders and health programs to suit your needs.
What it offers
John Hancock offers four basic life insurance options:
- John Hancock term life insurance comes in 10, 15, 20, and 30-year terms with coverage amounts ranging from $250,000 to $65 million. As with all term policies, these offer temporary coverage only and don’t build cash value.
- Universal life insurance is a flexible policy type that combines permanent protection with the ability to adjust premium payments and coverage as needed. It builds cash value based on a “credited interest rate,” according to John Hancock’s website.
- Indexed universal life insurance is similar to universal life. However, it builds cash value based on the specific index it’s tied to, rather than a credited interest rate.
- Variable universal life insurance has the most potential for growth. Rather than being tied to an index or credited interest rate, your cash gets invested in various portfolios, depending on your risk tolerance and goals.
Once you choose your base policy, you can customize it with these riders:
- Disability rider
- Unemployment waiver of protection rider
- Accelerated benefits rider
- Critical illness benefit rider
- Cash value accumulation potential rider
- Long-term care rider
There are also two wellness programs you can enroll in as a John Hancock life insurance holder. Both programs reward you for staying healthy and active.
- John Hancock Vitality Go is available to all life insurance holders at no additional cost. By enrolling, you may get discounts on your premiums, fitness devices, travel, and more. If you want additional rewards, you can enroll in Vitality PLUS for as little as $2 per month.
- John Hancock Aspire is only available to policyholders with type 1 or type 2 diabetes. It comes with everything in the Vitality program, plus personalized health coaching and free diabetes testing supplies.
John Hancock Life Insurance coverage
John Hancock’s permanent life insurance coverage options are comparable to those offered b y the competition. However, its term life coverage is a different story. Death benefits start out at $250,000 and go all the way up to $65 million, making these policies an ideal choice for wealthy families that need (and can afford) lots of protection for their loved ones.
By comparison, term life policies through Haven Life or AIG life insurance (now called Corebridge Financial), start out at $100,000 and only go up to around $3 million. So if you’re looking for death benefits below the $250,000 mark, you might want to look into these alternatives.
| Life insurance type | Coverage | Term duration | Issue ages |
| Term life insurance policies | $250,000 to $65M | 10-, 15-, 20-, or 30- years | 18 to 80 years |
| Permanent life insurance policies | $50,000 to $65M | Lifetime coverage | 3 months to 90 years |
What it doesn’t offer
There are a few areas where John Hancock life insurance is lacking.
- No whole life insurance. When comparing term vs. whole life insurance, you might decide that a whole life policy is best for you. However, John Hancock doesn’t offer any whole life policies. Instead, look into New York Life or Northwestern Mutual. Both boast some of the best whole life insurance available today.
- No online quotes. Another annoying thing about John Hancock is that you can’t request a quote online. You must speak with an agent, which can be a hassle when you’re trying to collect several quotes at once.
- No guaranteed life insurance policies. In most cases, you’ll need to take a medical exam before locking in a John Hancock life insurance policy. If you’ve experienced health issues in the past and think you’ll be denied during the underwriting process, consider looking into a guaranteed issue policy from a company like Ethos instead.
John Hancock life insurance cost
The cost of a John Hancock life insurance policy varies with age, health, lifestyle, and the type of coverage chosen. Unfortunately, you can’t get a quote or compare life insurance rates without speaking to an agent. However, rates are typically quite competitive, and discounts may be available for eligible policyholders who enroll in John Hancock’s Vitality program.
John Hancock’s credentials
Now that you know about the types of life insurance you can find at John Hancock, let’s take a closer look at the company and its credentials.
Licenses and registrations
John Hancock sells life insurance in all 50 states, plus D.C., Puerto Rico, and Guam. Depending on your state, policies may be issued using one of these two names: John Hancock Life Insurance Company or John Hancock Life Insurance Company of New York.
Awards and certifications
John Hancock has won dozens of Stevie awards within the past two years alone, including these top awards:
- John Hancock, Company of the Year, Financial Services Large
- John Hancock Aspire with Vitality, Innovation of the Year – Consumer Products Industries
- John Hancock’s COVID-19 Response; Communications or PR Campaign of the Year
- John Hancock Aspire; Marketing Campaign of the Year, Insurance
- John Hancock MLK Scholars; Corporate Social Responsibility Program of the Year (For companies with over 2,500 employees)
Regulatory or legal actions
We found one regulatory action taken against John Hancock in the past few years, but this action concerned its long-term care insurance, not its life insurance.
In 2022, John Hancock allegedly violated New York insurance law by terminating long-term care policies before benefits were exhausted. As a result, the company was ordered to pay back $21.6 million to New York customers, $2.2 million to New York State’s Medicaid, and a $2.5 million penalty.
John Hancock’s accessibility
John Hancock sells life insurance nationwide, but its Vitality programs are unavailable in some places.
Availability
John Hancock serves all 50 states. However, its Vitality GO program isn’t available to New York and Puerto Rico residents. Likewise, its Aspire program (for those with diabetes) isn’t available in New York, Idaho, and Puerto Rico.
Contact information
John Hancock customer service is available weekdays from 8 am to 6 pm Eastern.
- Phone (for New York residents): 1-888-267-7781
- Phone (for everyone else): 1-800-387-2747
- Email: webmail@jhancock.com
User experience
Even though John Hancock is one of the oldest life insurance companies in the U.S., its website is modern and streamlined. The platform is easy to navigate, with clearly-labeled tools and functions that make managing policies quite intuitive.
The website also includes helpful tips and advice on life insurance and other financial matters, as well as various forms and tools to make managing policies a breeze.
Limitations
The biggest limitation is that you can’t get a quote or compare prices without speaking to an insurance agent first. In addition, the company doesn’t offer whole life insurance.
John Hancock’s customer satisfaction
The one thing people love most about John Hancock is its Vitality program. But it’s also the biggest source of complaints, too.
Customer complaints
John Hancock has an A+ accreditation with the Better Business Bureau (BBB). To be as large as it is, the company has received very few complaints over the years (134 total in the past three years). On Trustpilot, John Hancock life insurance has a 3.4 out of 5-star rating.
The number one selling point for most customers is John Hancock’s Vitality program. Users love getting gift cards, discounts, and rebates for making healthy choices and eating healthy food. Some users even report getting a free Apple watch. However, most complaints are also about the Vitality program, specifically from users who take issue with the algorithms John Hancock uses to track your health.
Third-party ratings
John Hancock ranked #18 out of 22 in J.D. Power’s 2022 U.S. Individual Life Insurance Study. This ranking was specifically related to overall customer satisfaction, and John Hancock scored lower than the industry average.
If this is a red flag for you, you’ll be happy to know that State Farm secured the top spot as the life insurance company with the highest customer satisfaction. Other companies that made it to the top 10 (and beat the industry average) include Mutual of Omaha, Northwestern Mutual, Nationwide, Guardian Life, MassMutual, and New York Life.
John Hancock vs. the competition
If you’re looking for a traditional insurance provider with a lot of financial strength to back it up, John Hancock is worth exploring. It’s also a great pick for families that need substantial amounts of coverage; John Hancock’s limits go up to $65 million.
However, you might want to explore competitors, such as Corebridge Financial, if you’re looking for $1 million or less in coverage. For example, Corebridge’s smallest policy only covers final funeral expenses, while its largest policies pay your beneficiaries a death benefit of around $1 million.
This table further highlights how John Hancock compares to popular insurance providers, including Corebridge Financial and Principal life insurance.
Note: Principal stopped selling individual life insurance in 2021, and now only offers group policies to business owners.
| John Hancock | AIG (now Corebridge Financial) | Principal | |
| AM best financial strength rating | A+ (Superior) | A (Excellent) | A+ (Superior) |
| Types of insurance | Term, permanent | Term, permanent, final expense | Group term, voluntary term |
| Coverage | $50k — $65 million | $100,000 — $1+ million | Varies |
John Hancock life insurance FAQs
How we evaluated John Hancock Life Insurance
We conducted an in-depth evaluation of John Hancock life insurance to determine its effectiveness and suitability for our readers. Our evaluation involved an analysis of its products, customer service ratings, and financial stability. Additionally, we reviewed online customer reviews to gain an unbiased opinion of the company.
Summary of Miami Herald’s John Hancock review
John Hancock Life Insurance is one of the oldest and most respected life insurance providers in the United States. With its high coverage limits and esteemed wellness programs, it’s an excellent choice for wealthy families or those looking to earn rewards for good health. However, its lack of online quotes and mixed customer service ratings means it may be best to compare it to the best life insurance companies before you make a decision.
