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John Hancock Life Insurance Review


ConsumersAdvocate.org Rating: 4 / 5 (Very good)
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John Hancock Financial is a Massachusetts-based insurance and financial services company founded in 1862. John Hancock, a division Canadian insurance company Manulife, has maintained a solid financial reputation for over 150 years, currently holding an A.M. Best rating of A+, an S&P rating of AA-, as well as a BBB rating of A+.

How is John Hancock rated?

Breakdown

4.0/5
Company Stability
4.0/5
Reputation
4.0/5
Policies & Coverage

Overall Rating: 4 / 5 (Very good)

John Hancock, a wholly owned subsidiary of Manulife Financial, has been providing financial and insurance products since 1862. The company enjoys superior financial and credit ratings from all major rating service companies, making them a strong contender in the insurance industry. With a variety of quality insurance products, great features, and the essential riders, the company is a suitable contender among leading carriers.

Financial Strength

Key Details

Underwriter
John Hancock Life Insurance Company
Marketshare
3.32%
Premiums Written 2019
$4,244,125,290
Standard & Poor's Financial Rating
AA-
Moody's Financial Rating
A2
AM Best Financial Rating
A+

Company Stability - 4 / 5

John Hancock boasts a superior financial reputation and excellent credit worthiness. The company has received an A.M. Best rating of A+ (Superior), an S&P rating of AA-, and a Moody's rating of A2.
*The above information reflects the market share, premiums, and financial strength of the issuer of the John Hancock life insurance policies: John Hancock Life Insurance Company.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAIC Complaint Ratio 2017
0.14
NAIC Total Complaints 2017
37
*The NAIC complaint ratio (in this case 0.14) is a ratio of the number of complaints a company received for the total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

BBB Rating
A+
Number of BBB Negative Reviews
18
Date Collected
2017-09-01

Reputation - 4 / 5

John Hancock Financial Services, Inc. is a BBB accredited business with an A+ rating. Although some complaints have been filed against the company, the NAICS reports they have remained well below the national median ratio, placing them among the best largest insurers in the market with regard to customer experience.

John Hancock Policies

John Hancock offers customers the following life insurance policies: Term, Universal Life, Variable Universal Life, Indexed Universal Life.

Term Life Insurance

Minimum Age
18
Maximum Age
80
Available Terms
10 year
15 year
20 year

Key Term Policy Features

  • Term-Permanent Conversions
  • Guaranteed Level Premiums
  • Accelerated Death Benefit

Policies & Coverage - 4 / 5

John Hancock offers a range of life insurance products such as term, universal, variable universal, and indexed universal life. Their policies come with an assortment of excellent features such as term-to-permanent conversion, guaranteed level premiums, and accelerated benefits.

Flexibility and Available Riders

Available Term Life Riders

  • Spouse Protection Rider
  • Long-Term Care Rider

Flexibility & Available Riders - 0 / 5


Additional Company Information

Homepage URL
Company Phone
(617) 572-6000
Headquarters Address
197 Clarendon St # C6, Boston, MA, 02116
Year Founded
1862

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Customer Comments & Reviews

Loading Reviews ...
pmbrett1
3/13/2020
Stellar customer service. Very patient and understanding with handling a life policy beneficiary details. There has never been an occasion where I was disappointed with the way my issues were resolved...appreciate the sensitivity in handling my affairs.


L
L W
5/16/2019
My Mom has a whole life insurance policy with John Hancock she obtained back in 1983. She was lied to back then when 2 insurance agents told her she only needed to make payments on it for 10 years then the insurance would pay for itself. She called 10 years later when she received a bill & at that time she was told she would need to make these same payments every quarter until she was 81. This month she received a billing notice that her payments would now be increased by over $900 a quarter. She was told that all of the money that she put into it was used up by mortality service charges by John Hancock & her policy has no cash value. The company has taken approx. $15,000 of her... Read More


michael c
5/8/2019
Trying to get this company to pay off on a life insurance policy is an effort in futility. Don't bother filing a claim, just call your lawyer. We needed the money to pay for my mother's long term care, she has Alzheimer disease and is in assisted living, however this company couldn't care less. They continue to drag their feet and now when they've run out of excuses, the claim is "in process". The other life insurance company my father had paid the claim in three business days! We're going on a month with John Hancock. Their are far better insurance companies out there, pick one of those.


F
Frustrated a
1/9/2019
The policy does what it is supposed to, and the company's financial strength is OK. But their website and back office are terrible - 1990s vintage. I have online accounts with Fidelity, Vanguard, Voya, Morgan Stanley, Citibank, Chase and multiple other financial and insurance providers. I can say without reservation that John Hancock's website is the worst. It's buggy and slow and poorly designed, to the extent that you can't do simple things on it like transfer funds between sub-accounts, or change your password. And when you call customer service to have them do what should have been done on the website, it's even worse. You'll end up sending them faxes to prove you've... Read More


Frederick K
10/14/2018
why is it so difficult to file a claim for policy proceeds after one dies? simplify this for grieving husband.



Top Rated
Our Partner
  • The only 100% no medical exam term life insurance
  • Ages 18 to 60 are eligible to apply
  • Term life policies $50,000-$1.5 million in coverage
  • Company offers 10, 15, 20, 25, and 30-year terms
  • Monthly premiums as low as $10
  • Featured in WSJ, CNN, Forbes, TechCrunch & Money.com