John Hancock Life Insurance Review


Rating: 8.4 / 10 (Excellent)
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How is John Hancock rated?
9/10
Financial Strength
8/10
Customer Experience
8/10
Policies
8/10
Flexibility
8/10
Help and Support
7/10
Online Presence

John Hancock Overview

Founded in 1862, John Hancock Life is a Boston-based provider of financial services, which include retirement planning, investment management, and insurance. The company aims to offer life insurance products tailored to the specific financial needs of their clients. These can include living expense coverage, loan repayment, and replacement of income. John Hancock Life's Vitality Program is a life insurance offering that also provides real-time discounts and rewards. These savings are meant to encourage healthy choices and an active lifestyle.

Though John Hancock Life provides several online tools and calculators, quotes are only made available via their telephone hotline. John Hancock Life is licensed to do business in throughout the United States of America, as well as in Puerto Rico, the District of Columbia, and the Virgin Islands. 

Company Reputation

John Hancock Life has maintained an outstanding financial reputation for over 150 years, and their business methods reflect that fact. This company boasts a Better Business Bureau rating of A+. As of June 2016, John Hancock Life administered $401.1 Billion in assets, as well as and $79 Billion in life insurance policies.

John Hancock Life’s Financial Strength Ratings: 

Standard and Poor’s

AA-

Moody’s Rating

A1

A.M. Best 

A+

Fitch Ratings           

AA-

Policies

John Hancock Life Insurance offers a range of term and permanent plans, which can be tailored to suit an individual and their family’s needs. Additional plans include universal life, indexed universal, and variable universal. Regardless of choice, the company emphasizes healthy living, through the Vitality Program, and offers rebates and discounts if the policyholder makes choices accordingly. This can result in up to $600 in rebates annually.  

John Hancock Life TERM

Term life insurance is meant to ensure the needs of a family or dependent in the event of the death of the primary earner. These needs may include coverage of debt payments or loss of income. College and mortgage payments are common uses as well. Term plans offer protection for a specific period of time, usually between 10 and 30 years.

John Hancock Life UNIVERSAL

Universal life insurance is a form of permanent life insurance that offers coverage to last a lifetime, and whose death benefit accumulates the longer it’s in effect. In the case of universal life insurance, there is greater flexibility in terms of the amount and frequency of premium payments. As the plan’s value grows, money can be withdrawn or loaned for any reason, as long as it repaid.

John Hancock Life INDEXED UNIVERSAL

John Hancock’s indexed universal life insurance is largely similar to the standard universal variant. The difference is that it is capable of accumulating through not only annual percentages, but also through the linked performance of an indexed market account. Compared to other plans, the indexed universal option has the greatest amount of growth potential.

John Hancock Life VARIABLE UNIVERSAL

John Hancock’s variable universal life insurance is mostly similar to the standard universal variant. The key difference, especially as opposed to an indexed universal plan, is that its growth potential is not only achieved through annual percentages, nor indexed accounts, but rather through direct market investment. Compared to other plans, variable universal policies come with associated risk. Since this policy is tied to market fluctuations, there is equal chance for a monetary increase, as well as decrease.

Help and Support

John Hancock Life customer service operators can be reached by phone  between 8:00am to 6:00pm Eastern Time. The company is also reachable by way of a hosted messaging system.

Online Presence

John Hancock Life offers easy-to-use online tools that are mostly aimed towards educating the consumer on the subject of life insurance. These include a glossary, a life expectance calculator, an insurance needs analyzer, and several informational videos.

John Hancock Life Insurance – Final Thoughts

John Hancock Life is a good choice for life insurance primary earners wanting to ensure their families’ future. While their policies’ details may not be the easiest to understand, their options are on par with similar companies in the industry. With its emphasis on healthy lifestyle choices, as well as their subsequent rewards, John Hancock Life is well-positioned for future innovation and adoption. 

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