John Hancock Life Insurance
Is This Your Business?Author: Kaitlyn Short
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.
Top Ranked Companies
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.
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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.
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.
