John Hancock Life Insurance Review

You may get cash support while also getting health rewards when you get John Hancock life insurance. Incentives like lower Amazon prices, grocery store loyalty programs, and even life insurance are on the table from this provider.

John Hancock does not offer whole life insurance, and the number of eligible riders is limited. There are a few issues with the Vitality rewards program and its payment methods, but overall, user opinion is positive.

A wide range of insurance options, a high death benefit, and incentives for excellent health may be available depending on your comfort level with the customer reviews.

John Hancock life insurance rates

John Hancock Life Insurance Review - John Hancock Life Insurance Logo

Sample rates from John Hancock’s online quote tool for a $500,000 insurance for a healthy man and woman were obtained using a 20-year term.

While John Hancock’s premiums are on the high side when compared to other major insurers, the firm stands out for its lenient underwriting rules for customers with risky hobbies or poor health conditions.

  • 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 requirements for underwriting are lax. Because of criteria like smoking or age, it admits candidates who are considered high-risk. To obtain the best discounts, you must satisfy the following requirements:

  • Tobacco, alcohol and substance use. Those who haven’t smoked, drank alcohol, or taken drugs in the past 10 years are charged the highest rates.
  • Health. HDL cholesterol levels below 3.5 or blood pressure below 140/85 for those ages 18 to 50, or 140/90 for those aged 51 to 70, may help you do better on the exam.
  • Lifestyle. Discounts and benefits are offered to clients who participate in John Hancock’s Vitality program, which encourages healthy lifestyles.
  • Driving record. If you haven’t had any serious traffic infractions or DUIs in the previous three years, you can get a better rate.

How to get a quote from John Hancock life insurance

Online applications for term life insurance are accessible. If you want assistance with any other policies, please contact us at 800-721-3774 and we would be happy to assist you.

  1. Select Insure > Term Life Insurance > Get a Quote on the John Hancock website for further information.
  2. In the fields provided, indicate if you smoke and how much coverage you need. Once you’ve entered your email and phone number, click the Get a Quote button.
  3. Whenever we can, we’ll provide you with a price estimate. Selecting the length of your policy and the quantity of coverage you need is all that is required to begin the application process.
  4. As long as you apply for less than $250,000 in coverage, you’ll get a response immediately. If you don’t, it might take up to three days for us to accept your application.

John Hancock offers term and permanent life insurance

While John Hancock offers term and permanent insurance, it doesn’t provide entire life insurance coverage for some consumers.

  • Term. A 10- to 30-year term life insurance policy can be purchased with death benefits ranging from $50,000 to $65 million. Online applications for up to $3 million in coverage are accepted.
  • Universal. An interest-bearing cash value, flexible premiums, and the ability to adjust death benefits are just some of the advantages of a long-term care insurance policy.
  • Indexed universal. For example, if the S&P 500 rises over a certain level, so does the cash value. All universal insurance plans include configurable premiums and death benefits.
  • Variable universal. Investing in stocks, bonds, and mutual funds is the most lucrative, but also the most risky.
  • Final expense. People 55 to 80 years old are eligible for this type of insurance and can expect to get coverage ranging from $2,000 to $20,000. For last expenses like funerals and burials, it does not require a medical examination to apply.

John Hancock life insurance riders

At the insurer’s discretion, policyholders can add the following riders to their policies:

  • Long-term care. The money saved from your life insurance policy can be used to pay for a long-term care facility. Assuming that you can’t eat or dress yourself, you must not be able to perform two further ADLs.
  • Waiver of premium. If you become disabled and are unable to work for a period of at least six months, your insurance premiums are waived.
  • Accelerated death benefit. If you’ve been told you have less than a year to live because of a terminal illness, you may be entitled to up to half of your death benefit.
  • Conversion. Conversion time will be prolonged to the full term duration if you select this option.

John Hancock life insurance reviews are mostly positive

For its operations and customer service, John Hancock has earned an A+ rating by the Better Business Bureau. The BBB‘s complaint tally of 67 in the past three years suggests some dissatisfaction, even if it is low for an insurance company. One out of every five customers complains about their insurance company’s claim processing timeframes, which are often cited as a major reason for their dissatisfaction.

More than 70 customers have given John Hancock a TrustPilot rating of 4.3. However, a few customers have expressed dissatisfaction with the slowness with which their claims were settled.

For another insurance review, visit our review of Foresters Financial Life Insurance Review.