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Life Insurance

John Hancock Life Insurance Review

By David Krug 4 minute read

Depending on your age and health, you may be eligible for cash benefits in addition to health benefits when you purchase John Hancock Life Insurance. This group offers a variety of benefits, including lower Amazon prices, grocery shop loyalty programs, and even life insurance.

John Hancock does not offer whole life insurance, and consumers have access to a restricted number of qualified riders. While the Vitality rewards program and payment mechanisms have significant shortcomings, overall customer satisfaction with the program and payment choices is high. Depending on your comfort level with customer feedback, a diverse choice of insurance alternatives, a substantial death benefit, and incentives for perfect health may be offered.

John Hancock life insurance rates

According to the firm, the online pricing tool for John Hancock gives an example of the cost of a $500,000 insurance policy for a healthy man and woman with a 20-year term.

While John Hancock’s rates are higher than those of other big insurers, the company differentiates itself by allowing clients with dangerous hobbies or pre-existing medical conditions to submit more flexible underwriting procedures.

John Hancock Life Insurance Review - John Hancock Insurance Company Logo
  • Age 20. Male $32.35, Female $27.00
  • Age 25. Male $32.35, Female $27.00
  • Age 30. Male $34.65, Female $30.75
  • Age 35. Male $34.65, Female $33.65
  • Age 40. Male $41.55, Female $35.40
  • Age 45. Male $67.70, Female $58.45
  • Age 50. Male $102.60, Female $97.95
  • Age 55. Male $117.30, Female $97.95
  • Age 60. Male $195.10, Female $158.50

Factors that affect John Hancock life insurance rates

John Hancock’s underwriting criteria are rather liberal. It enables those who are deemed high-risk due to factors such as smoking or advanced age to participate. To qualify for the maximum amount of savings, you must meet the following criteria:

  • Tobacco, alcohol, and other drug abuse are all significant concerns. Individuals who have not smoked, drank alcohol, or taken drugs in the preceding 10 years are most at risk of having the condition.
  • Health. If your HDL cholesterol level is less than 3.5 or your blood pressure is less than 140/85, you may do better on the test.
  • Lifestyle. John Hancock’s Vitality initiative encourages individuals to live healthier lives by offering discounts and other perks to participants.
  • Driving record. If you have not been convicted of any significant traffic violations or DUIs during the last three years, you may qualify for a discounted insurance rate.

How to get a quote from John Hancock life insurance

Term life insurance applications are now available online. If you want assistance with any other insurance products, please contact us at 800-721-3774.

  1. Select Insure > Term Life Insurance from the drop-down menu. To obtain further information, please visit the John Hancock website and click on “Obtain a Quote.”
  2. Please mention whether or not you smoke in the fields provided, as well as the amount of coverage you require. To begin, enter your email address and phone number and click the Get a Quote button.
  3. When feasible, we will offer you an estimate of the cost. All you need to do to begin the application process is select the term of your policy and the level of insurance protection you desire.
  4. As long as your application for coverage is less than $250,000 in value, you will receive a timely answer. If you do not comply, your application may be delayed by up to three days.

John Hancock offers term and permanent life insurance

While John Hancock provides term and permanent insurance to its clients, not all of its customers receive entire life insurance.

  • Term. A term life insurance policy with a death value of $50,000 to $65 million and a duration of 10 to 30 years is available. Online applications are being accepted for insurance coverage of up to $3 million.
  • Universal. A long-term care insurance policy’s characteristics include an interest-bearing cash value, adjustable premiums, and the flexibility to adjust the death benefit amount as needed.
  • Globally indexed. When the S&P 500 index, for example, exceeds a specific level, the cash value of an investment increases proportionately. All universal insurance plans allow for the customization of premiums and death benefits to match the insured’s specific needs.
  • The capacity to alter one’s behavior at any time. The most rewarding investments include stocks, bonds, and mutual funds, but they are also the most dangerous due to their volatility.
  • The total cost. Individuals aged 55 to 80 years old are eligible for this sort of insurance, with coverage ranging from $2,000 to $20,000. No medical evaluation is required to apply for last costs such as funerals and burials.

John Hancock life insurance riders

Policyholders may chose to incorporate the following riders in their policies at the insurer’s discretion:

  • Long-term care. The money you save on your life insurance policy may be used to assist cover the costs of long-term care for you or a loved one. If you are unable to feed or dress yourself, you must also be incapable of doing at least two more ADLs.
  • There will be no premiums levied. If you become handicapped and are unable to work for at least six months, you will be exempt from paying your insurance premiums.
  • Death benefits accrue more quickly than other benefits. If you are given less than a year to live as a result of a terminal diagnosis, you may be entitled to compensation equal to up to half of your death benefit.
  • Conversion. This option extends the conversion time to encompass the entire term period.

John Hancock life insurance reviews are mostly positive

John Hancock has an A+ rating from the Better Business Bureau for operations and customer service. The BBB’s complaint total of 67 in the past three years indicates some discontent with an insurance firm, although on a small scale in comparison to other sectors. One in every five consumers indicated unhappiness with their insurance company’s claim processing deadlines, which industry experts frequently mention as a major source of discontent.

John Hancock has a 4.3-star rating on TrustPilot, based on over 70 customer reviews. On the other side, a few consumers have voiced displeasure with the length of time required to process their claims.