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.
- 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:
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
- 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.
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:
- 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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