John Hancock Life Insurance Review

John Hancock Life Insurance Company is an A+ rated company founded in 1862 and wholly owned by the Canadian insurance company, Manulife Financial.



John Hancock Life Insurance Company is an A+ rated company founded in 1862 and wholly owned by the Canadian insurance company, Manulife Financial. John Hancock has competitive underwriting for a variety of health profiles. They are also the first life insurance company to introduce a life insurance policy linked to wellness and lifestyle (the John Hancock Vitality Program, which comes with a free Fitbit).

Our take

John Hancock is a long-time reputable life insurance company. They tend to be more competitive in underwriting men versus women (i.e., their male rates are more competitive versus other carriers). John Hancock is also good for applicants with certain health histories, including recent weight loss or former tobacco use. The company is also leading the charge on fitness tracker engagement with life insurance, although the jury is out on whether that actually results in the best-in-market rates for applicants.

Financial Strength



PolicyholderstooltipThis is how many active US life insurance customers this company insures.

Not reported

AM BesttooltipA.M. Best is an independent rating agency that evaluates the financial strength of insurance companies. Ratings as of May 2016, on a scale from A++ to D.


BBB RatingtooltipBetter Business Bureau (BBB) is a non-profit that collects consumer feedback on businesses around the country.


JD PowertooltipJ.D. Power and Associates is a global marketing information services firm that conducts surveys of customer satisfaction, product quality, and buyer behavior.

2 of 5


John Hancock ranked #1 among the top 10 at the 2013 Stevie® Awards for Sales & Customer Service. The company also received the 2016 Model Insurer Award for excellence in innovation and emerging technology and the 2016 IFCA Award of Excellence for policyholder communications.

Finding the best rates

Each insurer approaches health conditions differently. One insurer might ignore a heart attack from a few years ago, whereas a different insurer might rate you as a higher risk for the same thing. Here are the details of how John Hancock treats a variety of common health conditions from an underwriting perspective.

Pricing for health conditions
Health ConditionPricing
Survivor/Family HistoryExcellent
Recent Weight LossExcellent
Heart AttackExcellent
Sleep ApneaGood
Former Tobacco UseExcellent
High Blood PressureExcellent
High CholesterolExcellent

Excellent - Above average; company provides excellent coverage for clients with this condition.

Good - Spot on; company doesn’t look at this condition unfavorably in underwriting.

Fair - Could use some work; clients with this condition may be issued a lower health rating, and subsequently higher rates than other insurers.

John Hancock plan details

Unique features

  • Competitive underwriting for a range of health conditions
  • Selection of riders available to personalize your coverage

When applying

How's the application process?



  • Electronic application


  • Slower than average application approval (35 days)
  • Application form longer than average
  • Policy delivery by mail

After you're a policyholder

How's the customer service?


What you can do online

  • N/A

What you can't do online

  • Changing address requires phone call or paper form
  • Updating beneficiaries requires paper forms
  • Changing payment info requires paper forms
  • Policy cancellation requires paper forms

Sample quotes

Quote for: $500,000, 20-year term life insurance policy for healthy, nonsmoking individuals, in California, monthly premiums

CompanyPlanMale - Age 30Male - Age 40Male - Age 50Female - Age 30Female - Age 40Female - Age 50
AIGROP Select-a-Term$91.21$150.77$281.97$75.80$124.95$261.56
Banner LifeOPTerm$21.44$32.38$94.07$18.19$26.60$58.62
John HancockTerm$26.95$34.65$81.70$24.20$34.00$78.99
Lincoln FinancialLifeElements$28.44$38.94$78.75$23.63$30.63$58.63
Lincoln FinancialTermAccel$21.00$29.75$78.75$17.94$25.81$57.31
Mutual of OmahaTerm Life Answers$21.66$33.47$85.53$23.41$28.66$64.09
Pacific LifePacific PROMISE Term$20.84$29.59$77.09$19.18$26.68$61.67
ProtectiveCustom Choice UL$20.37$28.91$76.82$17.93$25.25$55.75
ProtectiveClassic Choice Term$20.21$28.38$75.68$17.63$25.94$55.47
PrudentialTerm Essential$34.20$43.65$88.65$27.90$38.70$76.95
PrudentialReturn of Premium Term$101.00$143.62$291.99$88.12$130.04$253.37
SBLILevel Premium Term$21.32$40.05$96.06$24.48$34.71$65.87
TransamericaTrendsetter Super$22.36$37.85$79.12$18.06$30.96$62.78
TransamericaTrendsetter LB$24.95$38.27$92.89$20.65$34.84$73.11


Annual Payment Discount


Payment methods available

Check; Auto bank draft; No credit cards accepted

Is coverage available without a medical exam?


What is the rule for converting the policy?

The policy is convertible during the first 10 years of the policy, or until age 70 (whichever comes first).

Is temporary coverage available?

Yes, up to $1,000,000.

Available Riders

Riders are additions to your overall life insurance policy that turn a basic life insurance policy into something that covers more circumstances.

  • checkmarkDisability Income RidertooltipPremiums are waived if you become totally disabled for at least 6 consecutive months.

    If you become totally disabled as a result of a qualifying event, you will not have to pay premiums for a fixed period of time.

  • checkmarkAccelerated Death Benefit RidertooltipIf you are diagnosed with a terminal illness with less than 12 months to live, you can access up to 50% of the policy's death benefit (up to a max of $1 million).

    Allows you to receive a portion of the death benefit if you are diagnosed with a qualifying terminal illness.

Common features

This policy, like all term life policies offered on our site, provides life coverage for a specific period of time (the term). The key features of this policy are standard across all the term policies we offer:

  • Level premium - which means the cost of the policy (the premium you pay) is fixed for the entire term of the policy. It will not increase during the term of the policy.
  • Good value - term life policies are significantly less expensive for the same amount of death benefit coverage than permanent life policies.
  • Regulated - the cost of this term life policy, for a given coverage amount and term, will always be the same for you regardless of who you buy it from. That’s because the policy will be priced based on the underwriting table the insurer files with the state insurance regulator.
  • No-risk obligation for you - you, as the policyholder, can cancel your policy at any time if you decide you don’t want it anymore. The insurer, however, cannot cancel your policy as long as you pay the premiums on time.
  • No exclusions - except for suicide during the first two years of the policy (which is standard by law across life insurance policies).
  • Terminal illness benefit - you can access a portion of the policy’s death benefit while you’re still alive if you’ve been diagnosed with a terminal illness. You might see this referred to as an "accelerated death benefit."
  • Convertible - which means, if you choose to, you can convert the term life policy to a permanent life policy. The conversion will generally cost you more and is subject to certain conditions.

The review on this page is only for this company's term life insurance products.


50 West 23rd Street, Floor 9

New York, NY 10010

24/7 - Available when you need us

Monday-Thursday | 9am-11pm ET
Friday | 9am-8pm ET
Saturday | 9am-9pm ET
Sunday | 10am-9pm ET

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