Mariah Posey is an auto, home and life insurance editor and writer for Bankrate.com. She aims to make the insurance journey as convenient as possible by simplifying industry lingo and implementing thoughtful content design to provide readers clear answers to their questions.
Mariah Posey is an auto, home and life insurance editor and writer for Bankrate.com. She aims to make the insurance journey as convenient as possible by simplifying industry lingo and implementing thoughtful content design to provide readers clear answers to their questions.
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At a glance
Bankrate's take
John Hancock Life Insurance Company offers a range of life insurance policies, and customers may have access to additional perks like discounts on fitness devices. However, there’s no online quoting tool and whole life coverage isn’t available.
John Hancock may be a good fit for customers who prioritize real-agent interactions and are interested in life insurance policies that tend to offer lower rates for older adults on average.
John Hancock may not be a good fit for people who are interested in buying whole life policies.
Customer service (all states except NY): 1-800-387-2747
Mailing address: Life Post Issue Services, John Hancock Insurance, PO Box 55979, Boston, MA 02205
Availability:John Hancock is available in all 50 states and the District of Columbia. However, some products, perks and add-ons may vary by state.
New
What’s new with John Hancock?
In September 2022, John Hancock began offering GRAIL's Galleri multi-cancer early detection test to eligible customers in the Vitality program. As the first life insurance company to offer such a test, John Hancock is helping its customers take control of their health. The test has been shown, in a clinical trial, to detect signs of over 50 types of cancer, 45 of which have no recommended screening tests.
John Hancock life insurance
If you are looking for a flexible life insurance policy with multiple rider options and perks available for your coverage, then John Hancock life insurance might fit the bill. The company, established in 1862, offers several life insurance plans with a variety of endorsements that can help broaden your coverage and provide peace of mind. To determine if John Hancock life insurance is right for you, take a look at our review of the company, its policies and other offerings to determine if the company is the best life insurance provider for your needs.
Term: John Hancock’s term insurance comes in four policy lengths — 10, 15, 20 or 30 years — and offers death benefit amounts ranging from $250,000 to $65 million. Term life is often a popular choice among families who want coverage for a shorter period of time, such as when debt is being paid down or until children are independent.
Permanent: Permanent policies last throughout your life, as long as you pay the premiums, and feature a cash value in addition to the death benefit. Permanent coverage may be a good option for people over 50 years old who want coverage for the remainder of their lives. John Hancock offers three types of universal life insurance, but doesn’t sell whole life coverage.
Universal: Universal life insurance is a flexible option that allows you to adjust your death benefit and premium to meet the changing needs in your life.
Indexed universal: This type of universal life insurance invests its cash value portion in an index, such as the S&P 500 or the Dow Jones Industrial Average.
Variable universal: Variable universal life allows you to place your cash value in a broader set of investments. To learn more about variable universal life, contact a licensed financial professional.
Unfortunately, none of John Hancock’s policies are guaranteed-issue, which means that your eligibility will depend upon your answers to the application’s questions and potentially on the results of a medical exam. As you shop for life insurance, it may be helpful to use a life insurance calculator or work with a licensed agent to determine how much coverage you need and which policy type is best for your situation.
Pros and cons of John Hancock life insurance
Pros
Offers a wide range of life insurance products
Offers additional riders and endorsements
Offers perks and discounts on other services to qualifying customers
Cons
Does not sell whole life policies
Does not have a purely online quote tool
Does not offer guaranteed issue life insurance
Compare life insurance providers quickly and easily
Answer a few questions to check availability with John Hancock
Please select age
The amount of coverage you need depends on many factors, including your age, income, mortgage and other debts and anticipated funeral expenses.
Please select Coverage amount
Whole life insurance combines life insurance with an investment component.
Coverage for life
Tax-deferred savings benefit if premiums are paid
3 variations of permanent insurance: whole life, universal life and variable life include investment component
Term life insurance is precisely what the name implies: an insurance policy that is good for a specific term of time.
Fixed premium over term
No savings benefits
Outliving policy or policy cancellation results in no money back
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Endorsements, also called riders, add extra coverage to your life insurance policy. People looking for the cheapest life insurance may not want to add riders, as they will very likely increase the cost of a life insurance policy. However, the added coverage of riders might be worth it, depending on your situation. John Hancock offers several riders, including a critical illness benefit rider, an unemployment waiver of protection rider and an accelerated benefit rider. To learn more, talk to a John Hancock agent.
Compare John Hancock with other insurers
When looking for the best life insurance for you and your loved ones, you may want to compare different companies to find what best fits your needs. If you aren’t sure if John Hancock is for you, you may want to consider getting quotes from these carriers.
John Hancock vs. State Farm
State Farm earned the top spot in the 2023 J.D. Power Life Insurance Study, indicating that the company’s policyholders are typically highly satisfied with its service. It also earned the Bankrate Award for Best Term Life Insurer for the third year in a row. State Farm offers more insurance products than John Hancock, including whole life, auto insurance and home insurance — none of which are offered by John Hancock — so it could be a good choice if you prefer keeping your products in one place.
Mutual of Omaha ranks highly in customer satisfaction according to J.D. Power and offers a no-medical-exam option for whole life insurance, which might be appealing if you have health issues but still need coverage. Mutual of Omaha also offers several types of health insurance, including long-term care insurance, disability income insurance and cancer insurance.
Northwestern Mutual won our 2023 Bankrate Award for Best Universal Life Insurer due to its high customer satisfaction ratings, strong financial strength and accessibility. On top of its life insurance offerings, Northwestern Mutual also offers financial planning, investment products and some health insurance products.
Our John Hancock life insurance review analyzed several aspects of the company, including its policy types, available riders and customer satisfaction. Our editorial team is familiar with the aspects of a life insurance company that matter most to consumers. John Hancock might be a good life insurance company if you are looking for additional perks, as the Vitality and Aspire with Vitality programs offer benefits not usually provided by life insurers. However, its customer satisfaction ratings vary, so talking with current customers before committing to a policy could be a good idea.
John Hancock customer satisfaction
Third-party John Hancock ratings are mixed. The company has an A+ (Superior) financial strength rating with AM Best, which measures the historical financial stability of an insurer. This metric may give you peace of mind that John Hancock has historically been a financially stable company and able to pay claims.
However, in the 2023 J.D. Power Individual U.S. Life Insurance Study, the company scored 782 out of 1,000 points, ranking it below the industry average. If you are considering a policy, it might be helpful to talk to current policyholders about their service experience first.
The National Association of Insurance Commissioners (NAIC) collects customer complaints regarding insurance companies and scores these companies based on how many complaints are received, balanced by the size of the company. These scores are referred to as the Complaint Index. It scores product groups within companies individually, so for instance, complaints for group life policies by John Hancock are separate from complaints for individual life insurance policies. The NAIC uses 1.0 as a baseline for average or expected complaint levels, with indexes over 1.0 indicating more than the average amount of complaints and an index under 1.0 meaning fewer complaints. In the last three years, John Hancock has received fewer complaints than expected for a company of its size, and its index score has improved year over year for the past three years.
Other John Hancock tools and benefits
Some interesting tools and benefits for the company's life insurance policies include the Vitality and Aspire programs. In addition to life insurance, John Hancock offers a variety of other financial products that you might find appealing:
Financial advice: Finances can be complex and nuanced. John Hancock offers advisors who can help you develop a plan for each aspect of your financial health.
Investments: John Hancock’s financial advisors may be able to help you choose from a variety of investment products, including mutual funds and EFTs, to bolster your financial plan.
Market Dynamics resources: These are prepackaged presentations and webinars that can be used by individuals or groups to gain a better understanding of investment strategies and market stressors.
Retirement planning: A John Hancock representative could help you review your retirement plan and make adjustments if needed.
Vitality program: This program offers perks and discounts on things related to healthy living, like discounts on wearable fitness devices, savings on groceries and discounts on travel and in some retail stores.
Aspire program: Aspire builds on top of the Vitality program to specialize it for those who have type 1 or 2 diabetes. This program offers specialized savings and discounts as well as virtual consultations with diabetes experts from Onduo.
Frequently asked questions about John Hancock
John Hancock has participated in corporate sustainability through various programs, initiatives and contributions. The company built its MLK Scholars program, which sponsors summer employment for over 600 Boston teens. John Hancock also gives employees a paid day off each year for volunteering to charitable causes and matches employees' financial giving to eligible organizations up to $4,000.
John Hancock has also focused on promoting inclusion through supplier diversity, encouraging the company to work with vendors and partners from the Black, Indigenous and People of Color (BIPOC) communities. John Hancock has invested more than $3.5 million in a short time to promote diversity, equality and inclusion within their company.
If you have a John Hancock life insurance policy, you may want to make sure your beneficiary knows how to file a claim. Filing a life insurance claim can be emotional, so preparing your beneficiary with the necessary steps may relieve some of the stress. To file a life insurance claim with John Hancock, your beneficiary should:
Documents can be faxed to 1-617-572-1571 or mailed to either of the following addresses:
Regular mail:
Life Post Issue - Claims John Hancock PO Box 55979 Boston, MA 02205
Overnight mail:
Life Post Issue - Claims John Hancock 410 University Avenue, Suite 55979 Westwood, MA 02090
Once the claim is finalized, your beneficiary will work with a John Hancock representative to determine the best way to receive the policy proceeds.
In 2004, John Hancock was purchased by the Canadian company Manulife Financial. Manulife continues to own the company and operates it within the U.S. as an independent subsidiary. Manulife Financial is headquartered in Toronto, Ontario, and is a multinational insurance company. While Manulife owns John Hancock, customers of this subsidiary will only need to deal with employees and agents of John Hancock.
You can contact a John Hancock service representative by calling 1-800-395-1113. This number should be live from 8 a.m. to 8 p.m. ET Monday through Friday, except for holidays. You may also contact its customer service by phone. For customers in New York, that number is 1-888-267-7781. For all other customers, the customer service number is 1-800-387-2747.
The best life insurance company will vary for every person and will depend on a number of factors including the type of coverage that you need, your budget and your expectations for your insurance provider. John Hancock stands out for its range of riders and endorsements available that allow for personalized life insurance coverage, but does not offer a whole life insurance policy for those seeking permanent coverage. It is best to shop around to find the insurance company that offers the level of coverage you desire that meets your financial needs within your budget.
