John Hancock Life Insurance Logo

John Hancock Life Insurance

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LAST UPDATED: April 18th, 2022

John Hancock was founded in 1862 and is headquartered in Boston, Massachusetts. The company serves over 3.5 million policyholders and pay over $2.3 billion in claims annually.

Hancock has strong financial ratings with A.M. Best, Fitch, Standard & Poor's, and Moody's. The company 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.

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The Good

  • Financial Strength Rating
  • Several Major Policies
  • Interactive Map

Financial Strength Rating

Financial Strength ratings are impartial ratings given by a third party. This rating determines a company's ability to meet its financial obligations to policyholders. 

A.M. Best is the largest credit rating agency worldwide and currently assesses the creditworthiness of over 16,000 insurance companies worldwide. 

John Hancock has an A+ rating from A.M. Best 

Several Major Policies

While John Hancock does not offer whole life insurance, the company does offer the following plans:

  • Term Life
  • Universal Life
  • Indexed Universal Life
  • Variable Universal Life

Interactive Map

The company website has an interactive map that shows you which products are available in specific states. This is extremely helpful to potential clients as it allows them to search their home state and find out which of John Hancock's policies are available to them. 

Visit Site

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The Bad

  • Lack of Information

Lack of Information

John Hancock's website is a bit vague and doesn't provide detailed information about its products or services. You can view the company's life insurance policies, but there are no links or additional pages to learn more. This is frustrating to those unfamiliar with the industry who aren't sure exactly what they are looking for. 

If you choose to work with this life insurance provider, be ready to contact the customer service center and speak with a representative. 

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The Bottom Line

John Hancock has been in the insurance industry for over 150 years and has a fantastic financial strength rating. Additionally, the company has a variety of life insurance policies, and you can easily find out if the product you're looking for is available in your state. 

However, the company's website offers little information regarding the policies, how they work, and why you should consider them. You cannot even generate a quote online; you'll have to contact the company directly for specific information.

If you're unfamiliar with the industry's jargon and terms, we recommend conducting your own research and getting more familiar with the industry before contacting John Hancock. In that case, you know what you're looking for, the general price range, and if you want additional riders, etc. 

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3 Reviews

Review Breakdown

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33%

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1 grade

67%

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JOHN M CAMPBELL ,

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.

1 year 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.

3 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.

3 years ago