John Hancock Life Insurance Review 2024
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John Hancock
on Nerdwallet
Financial strength rating
Online purchase
NAIC complaints
Policies offered
on Nerdwallet
John Hancock
Financial strength rating
Online purchase
NAIC complaints
Policies offered
One of the largest life insurance companies in the U.S., John Hancock offers customers a mix of term and permanent life insurance. The company is unique for its wellness programs, Vitality and Aspire. The former rewards healthy behavior with Amazon.com discounts, free subscriptions and savings on fresh produce, while the latter gives people living with diabetes resources to lead healthier, more active lifestyles.
But John Hancock doesn’t support online quotes, so you’ll need to contact an advisor to start the application process.
» MORE: Compare life insurance quotes
John Hancock life insurance rating
John Hancock earned 4 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account consumer experience, complaint data from the National Association of Insurance Commissioners and financial strength ratings.
John Hancock life insurance policies
John Hancock sells both term and permanent life insurance. To get a quote or apply for a policy, you’ll need to contact an advisor through the site.
Term life insurance. If you’re in the market for a temporary policy, John Hancock offers term life insurance lasting 10, 15, 20 or 30 years. You can get $250,000 to $65 million in coverage and in most cases, you won’t be asked to take a medical exam.
Permanent life insurance. John Hancock sells universal life insurance, variable universal life insurance and indexed universal life insurance, with coverage ranging from $50,000 to $65 million. These policies last your whole life, and build cash value over time at different interest rates. Once you’ve accumulated enough cash value, you can begin to borrow against your policy.
Wellness-based programs
John Hancock has two wellness-based programs that can be added to any life insurance policy:
Vitality. When you buy a policy, you can enroll in Vitality Go, which works by tracking your data from a wearable device like a FitBit. As you reach specific health goals, like walking a certain number of steps per day, the insurer will reward you with discounts on sites like REI as well as grocery store savings.
You can also sign up to Vitality Plus for a fee. Along with offering discounts and gift cards, this program allows you to save up to 25% on your annual premium as you make progress with your wellness goals.
Aspire. John Hancock’s Aspire program is designed for people with Type 1 and Type 2 diabetes. It gives you access to a diabetes management app and health coaching, and rewards you for exercising regularly and eating healthily with a premium discount of up to 25%.
Available riders and add-ons
Depending on your policy and where you live, you can customize your coverage with these riders:
Accelerated death benefit rider.
Cash value enhancement rider.
Critical illness benefit rider.
Chronic illness rider.
Disability payment of specified premium rider.
Estate preservation rider.
Long-term care insurance rider.
Healthy engagement rider (Vitality Plus).
Overloan protection rider.
Policy split option rider.
Return of premium rider.
Total disability waiver rider.
John Hancock life insurance rates
Below are monthly rates for a 20-year, $500,000 term life insurance policy from John Hancock. These are sample rates for a nonsmoking man and woman in excellent health — the final quote you’re offered will depend on factors like your age, health, lifestyle, occupation and driving record.
Age | Monthly rate - man | Monthly rate - woman |
|---|---|---|
20 | $27.82 | $22.37 |
30 | $28.52 | $24.72 |
40 | $42.67 | $36.92 |
50 | $86.27 | $68.82 |
60 | $226.27 | $180.17 |
Source: Direct from insurer. Rates reflect the super preferred class and were generated on 1/25/24. | ||
John Hancock complaints and customer satisfaction
Over three years, John Hancock has drawn fewer than the expected number of complaints to state regulators for a company of its size, according to NerdWallet’s analysis of data from the National Association of Insurance Commissioners.
John Hancock ranked No. 15 out of 22 companies in J.D. Power's 2023 U.S. Life Insurance Study for overall customer satisfaction.
More about John Hancock
You can manage your policy, make payments and update your life insurance beneficiaries by logging into the online portal.
In addition to life insurance, John Hancock offers other financial products and services, including:
College savings plans.
Investment management, including socially responsible investment plans.
Retirement advice.
Life insurance buying guide
Before you start comparing companies, choose the type of life insurance you want, such as term or whole life. Decide which life insurance riders, if any, you want the policy to include. Calculate how much life insurance you need and how long you want the coverage to last. Check that the insurers you’re considering offer the coverage you’re looking for.
When comparing rates, be sure the quotes are for the same amount of coverage over the same period of time. It’s also important to make sure the policy’s medical requirements match your needs. For example, if you want to skip the life insurance medical exam but don’t mind answering health questions, confirm that the application process for each policy you're comparing aligns with that.
Price may not be the biggest driver behind your decision to buy. Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.
For more guidance, see our life insurance buying guide.
Methodology
Life insurance ratings methodology
NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2020-2022. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.
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