John Hancock life insurance review + 2021 rates | finder.com
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

John Hancock Life Insurance review 2021

Last updated:  

20 to 60

Issue Age

$25,000 to $65,000,000

Coverage

Depends on policy

Medical Exam Required

Details

Policies Term, Permanent, Final Expense with Guaranteed Acceptance
Coverage maximum $65,000,000
Term lengths 10, 15, 20 years
Medical exam required Depends on policy
Available states All 50 states
Issue age 18 - 65 years old

Pros

  • High policy limits
  • Lenient health standards
  • Healthy living discounts and rewards
  • Simple application
  • Financial strength

Cons

  • No whole life insurance
  • Limited rider options
  • No online policy management
Riders Accelerated death benefit rider
Conversion rider
Disability income benefit rider
Long-term-care rider

Expert review

Katia Iervasi

Review by


Katia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).

Expert review

John Hancock life insurance is a solid choice for people who want support and rewards for pursuing a healthy lifestyle. It offers incentives like lower rates and a rewards program that gives discounts on Amazon, grocery purchases and even your life insurance.

However, John Hancock doesn’t offer whole life insurance and its selection of riders is limited. While most customer reviews are positive, some note issues with the Vitality rewards program and billing.

As long as you’re okay with the customer reviews, you could enjoy a wide selection of policy types, one of the highest death benefit payouts available and rewards for your healthy habits.

John Hancock life insurance rates

We pulled sample rates using John Hancock’s online quote tool for a 20-year term, $500,000 policy for a healthy man and woman.

Rates are at the same standard as other companies, but John Hancock stands out for lenient underwriting if you have risky hobbies or imperfect health.

AgeManWoman
20$32.35$27.00
25$32.35$27.00
30$34.65$30.75
35$34.65$33.65
40$41.55$35.40
45$67.70$58.45
50$102.60$97.95
55$117.30$97.95
60$195.10$158.50

What affects my rate with John Hancock?

John Hancock has lenient underwriting standards. It approves applicants considered high-risk like smokers or seniors, not common among other major insurers. Meet these requirements to access the best rates:

  • Tobacco, alcohol and substance use. Those who don’t smoke, drink alcohol or experience substance abuse within 10 years get the best rates.
  • Health. You may score better rates if your HDL cholesterol is at 3.5 or lower or your blood pressure reads below 140/85 for those ages 18 to 50, 145/90 for ages 51 to 70.
  • Lifestyle. If you maintain a healthy weight, get regular exercise or show other healthy habits, John Hancock offers discounts and incentives through its Vitality program.
  • Driving record. If you have no major traffic violations or DUIs within three years, you can get a better rate than someone with these.

How to get a quote from John Hancock life insurance

You can apply for term life insurance online. For all other policies, call 800-721-3774 and a representative will walk you through the next steps.

  1. On the John Hancock homepage, click Insure > Term Life Insurance > Get your Quote.
  2. Enter your name, date of birth, state, smoking status and how much coverage you need. Type in your email address and phone number, then click See my Quote.
  3. The system will generate a quote. You can adjust your term length and coverage amount as needed, and once you’re happy, apply for a policy.
  4. If you’re applying for a policy worth $250,000 or less, you can get an instant decision. Otherwise, approval may take three to five days.

What types of life insurance does John Hancock offer?

John Hancock’s lineup includes a mix of term and permanent policies, but it leaves out a few options like whole life that some people prefer:

  • Term. Get term life coverage in 10- to 20-year terms with death benefits between $25,000 and $65 million. With coverage under $3 million, you can apply online.
  • Universal. Offers lifelong coverage, a cash value that earns interest and lets you adjust your premiums and death benefits as needed.
  • Indexed universal. Ties the cash value to an index like the S&P 500. Like all universal policies, it offers flexible premiums and death benefits.
  • Variable universal. Gives the highest potential for cash value growth through stocks, bonds and mutual funds, but with the highest risk.
  • Final expense. Open to those ages 55 to 80, this policy offers coverage from $2,000 to $20,000. It’s designed to cover funeral and end-of-life expenses with no medical exam required.

What riders can I add to my life insurance policy?

The insurer allows policyholders to customize their coverage with the following riders:

  • Long-term care. Uses some of your policy to cover long-term care costs like a nursing home. You must be unable to perform two of the six activities of daily living (ADLs), such as eating or dressing.
  • Waiver of premium. Pauses premiums if you become disabled and can’t work for at least six months in a row.
  • Accelerated death benefit. Pays up to 50% of your death benefit if you’re diagnosed with a terminal illness with less than 12 months to live.
  • Conversion. Available on 15- and 20-year term policies, this rider extends the normal conversion period to the full level term period.

    John Hancock life insurance reviews and complaints

    Founded in 1862, John Hancock has a long-standing financial history, proving its likely ability to pay claims.

    John Hancock holds an A+ rating from the Better Business Bureau (BBB), but it also sees 1 out of 5 stars from 19 customer reviews and 54 complaints as of October 2020. However, only one complaint concerns a life insurance policy.

    On TrustPilot, the insurer scores 4 out of 5 stars based on 64 reviews as of October 2020. Most complaints involve travel insurance policies, and most life insurance reviews are positive.

    Customers praise its easy application process and Vitality program rewards, though some mention billing problems. Trustpilot notes that John Hancock hasn’t responded to negative reviews in the past 12 months.

    AM Best financial rating A+
    BBB accredited No
    BBB rating B
    1/5 out of 2 customer reviews
    Trustpilot score 4.2/5 out of 68 customer reviews
    JD Power score 737
    Customer reviews verified as of 21 January 2021

    How does John Hancock compare to other insurers?

    John Hancock relaxes its approval process enough to accept people considered high-risk, like those with pre-existing health conditions. This is a huge benefit for people having trouble getting accepted for a standard life insurance policy.

    However, John Hancock’s main policies are term and universal life insurance, though many people also praise its rewards program that encourages healthy living. Its policy selection doesn’t offer the wide options that some major insurers do.

    Also, the company’s rates stay above average with its 20-year, $500,000 term policies costing $35 a month for a healthy, 30-year-old man. The same person typically buys this policy for $25 a month, according to our independent analysis of life insurance rates.

    Compare companies like John Hancock

    Wondering how John Hancock stacks up to other insurers? Tap the Compare box to see features for up to four companies side by side.

    Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
    Bestow
    18 - 60 years old
    $50,000
    $1,500,000
    10, 15, 20, 25, 30 years
    No
    Get a quote in less than 10 minutes with on-the-spot approval and no medical exam.
    Haven Life
    18 - 64 years old
    $100,000
    $3,000,000
    10, 15, 20, or 30 years
    No exams for some applicants
    Fill out a quick online application and get approval in minutes with up to $3 million in coverage.
    Ladder
    20 - 60 years old
    $100,000
    $8,000,000
    10, 15, 20, 25 or 30 years
    Depends on policy
    Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.
    Policygenius
    18 - 85 years old
    $50,000
    $10,000,000
    10, 15, 20, 25, 30 years
    Depends on provider and policy
    Compare 12+ top insurers side-by-side to get the best possible deal, and shop return of premium policies online.
    Nationwide life insurance
    40 - 95 years old
    $10,000
    $1,000,000
    10, 15, 20 and 30 years
    Yes
    Get term, whole, universal or no-exam life insurance with up to $1 million in coverage.
    loading

    Compare up to 4 providers

    What’s John Hancock’s Vitality program?

    When you buy a policy, you’re automatically enrolled in the insurer’s basic Vitality Go program. John Hancock tracks your health and fitness data through wearable devices like FitBits and or Amazon Halos.

    As you hit health goals like lowering your blood pressure, the insurer gives discounts to shopping sites like Amazon.

    You also can pay around $2 a month for Vitality Plus, scoring grocery store gift cards and further discounts. You can save up to 15% on your annual premium and score an Apple Watch for $25 plus tax.

    This is known as interactive life insurance, meant to incentivize people adopting healthy habits. Check for exclusions before applying.

    Frequently asked questions about John Hancock Life Insurance

    Life insurance ratings

    ★★★★★ — Excellent

    ★★★★★ — Good

    ★★★★★ — Average

    ★★★★★ — Subpar

    ★★★★★ — Poor

    Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry. John Hancock gets three out of five stars for offering fewer customization options compared to its competitors and less than stellar customer interaction ratings.

    Learn more about our methodology here.

    Ask an expert

    You are about to post a question on finder.com:

    • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
    • finder.com is a financial comparison and information service, not a bank or product provider
    • We cannot provide you with personal advice or recommendations
    • Your answer might already be waiting – check previous questions below to see if yours has already been asked

    Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
    Go to site