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John Hancock Life Insurance

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3 User Reviews
LAST UPDATED: January 2nd, 2021

John Hancock was founded in 1862 and is headquartered in Boston, Massachusetts. They serve over 3.5 million policyholders and pay over $2.3 billion in claims annually. They have strong financial ratings with A.M. Best, Fitch, Standard & Poor's, and Moody's. John Hancock has a large network of agents, brokers, and financial planners across the nation that can provide consumers with term life and universal life insurance policies.


The Good

  • Industry experience
  • Offers several major policies
With John Hancock, individual and families can take part in the comprehensive portfolio of innovative insurance products. With John Hancock life insurance, clients can take advantage of estate, business, and even retirement planning solutions. Other life insurance benefits include:

Industry Experience

They have over 150 years of experience in the insurance industry with demonstrated stability and financial strength. They have strong financial ratings with A.M. Best, Fitch, Standard & Poor's and Moody's.

Offers Several Major Policies

While John Hancock does not offer whole life insurance, they do offer the following plans:
  • Term Life
  • Universal Life
  • Indexed Universal Life
  • Variable Universal Life
  • Term Vs Permanent Life

The Bad

  • No chat or phone number
  • Missing information
  • Minimum coverage requirement
Despite offering a number of beneficial life insurance services/features, there are some concerns that should be pointed out. Those considering John Hancock for their life insurance needs should be aware of the following limitations prior to enrollment:

No Chat or Phone Number

The only way to contact John Hancock to speak with either customer support or a financial representative is by emailing in an inquiry. It does not have a chat box option or even an option to call in. The only way to get in contact with John Hancock is to fill out an email form. Then, when it is convenient, the company will set up a time to speak to you.

Missing Information

Lacking a phone number is especially negative when you have missing information on your site. Their site has very little information on it about their policies and you cannot even generate a life term quote. If you want a quote, you have to email in an inquiry. There are very few tools to help consumers through the life insurance process. The following is a list of data points we were unable to find on John Hancock:
  • Pricing
  • Estimation calculator
  • Exclusions (if any and what they are)
  • Age eligibility
  • If certain states are excluded from applying.

Minimum Coverage Requirement

They have a high minimum coverage amount of $100,000 for both term and universal life insurance policies.

The Bottom Line

John Hancock has been in the insurance industry for over 150 years and has had little customer complaints and issues within their large customer base. Unfortunately, they do not offer consumers a whole life insurance policy. For this reason, we cannot recommend them.

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3 Reviews

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I have a John Hancock Long Term Care policy. I bought the policy with the option to keep the monthly premiums the same throughout its' life. There are few companies left that offer Long Term Care insurance anymore, especially when you're in your 50's. I was lucky enough to sign up through my employer at the time with a one year "no questions asked" option. Having diabetes, cardiac artery disease and a kidney transplant I never qualified for anything I applied for in the past. The fact that I could also get the permanent monthly payment is great now that I've retired. I only wish I could charge my monthly premium to a credit card (I want the points) instead of using a monthly bank draft. When I called Customer Service this year I was told that they would be offering that option sometime in 2021.

9 months ago

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Jan Cowan Fort Worth, TX

I am the sole beneficiary of a life policy and John Hancock is refusing to pay. The reason, there was a divorce involved. In our divorce decree my husband and I kept ownership of our life policies so we could have the sole discretion to keep the beneficiary as is or change the beneficiary at any time in the future. It would be our choice. He never remarried, there are not any children and no other immediate relatives. We remained friends and elected not to change the beneficiaries. He sadly passed away of a very difficult illness and is missed by many. I turned the claim in and jumped through all of the hoops and requirements they requested - completed forms, divorce decree, death certificate, etc., at which time they said they would issue a check. They confirmed there was not any items missing and I met all of their requirements, but stated since there was a divorce, they would not pay the beneficiary. How can they take a choice away from who we choose to leave our life insurance to weather a divorcee, friend, relative, charity, etc. I am continuing to receive the "run-a-round" and John Hancock will not give me the proof of their words. I am continuing to fight this and will turn it into the State Insurance Association. I find it very "distasteful", to say the least, how this insurance company takes care of business and does not pay the life insurance that was paid for. To now read all of the negative reviews about John Hancock and find that I am one of many - not a fun club to be a part of.

2 years ago

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Frustrated Chicago, IL

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 communicated, and to insist they do their job. Find another alternative.

2 years ago

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