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John Hancock Life Insurance review 2021
Last updated:
Make the most of lenient approvals for pre-existing conditions and rewards with a healthy living program.
finder.com's rating: 3 / 5 ★★★★★
Bottom line: John Hancock’s Vitality program rewards you for healthy living, though you won’t find a wide list of riders or whole life policies.
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 |
|---|
Review by
Katia Iervasi
katia.iervasi@finder.comKatia 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.
This article was reviewed by Andrew Flueckiger, a member of the Finder Editorial Review Board and certified insurance counselor and licensed insurance agent in five states.
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.
The rates are fairly standard compared to other major insurers, but John Hancock stands out for lenient underwriting if you have risky hobbies or imperfect health.
| Age | Man | Woman |
|---|---|---|
| 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 life insurance?
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.
- On the John Hancock homepage, click Insure > Term Life Insurance > Get your Quote.
- 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.
- 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.
- 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 coverage 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 John Hancock 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
John Hancock is accredited with the Better Business Bureau and has an A+ rating for its operations and customer interaction. The BBB has recorded 65 complaints over the last three years, which is relatively low for an insurance company but points to some customer dissatisfaction. Customers award the insurer 1 out of 5 stars, with many mentioning the slow claims process.
On TrustPilot, John Hancock has 4.2 out of 5 stars based on nearly 70 reviews. Users rave about the rewards programs and easy policy management, though some said claims were paid out slower than they’d like.
| 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 John Hancock life insurance compares to other companies
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 term and permanent policies from 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.
What is the John Hancock 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.