John Hancock life insurance is a good option for those who wish to be rewarded for leading a healthy lifestyle while also receiving financial help. Reduced rates and a rewards program for Amazon, supermarket shopping, and even life insurance are some of the enticements offered by this company.
Whole life insurance isn’t available from John Hancock, and the number of optional riders is restricted. While the vast majority of customer feedback is excellent, there are a few complaints about the Vitality rewards program and its payment procedures.
Depending on your comfort level with the customer reviews, you may be able to take advantage of a wide range of policy options, a substantial death benefit payout, and incentives for good health.
- John Hancock life insurance rates
- Factors that affect John Hancock life insurance rates
- How to get a quote from John Hancock life insurance
- John Hancock offers term and permanent life insurance
- John Hancock life insurance riders
- John Hancock life insurance reviews are mostly positive
John Hancock life insurance rates
For a $500,000 policy for a healthy man and woman, we obtained sample rates from John Hancock’s online quotation tool using a 20-year term.
When compared to other large insurers, John Hancock’s prices are rather ordinary, but the company stands out for its relaxed underwriting policies for those with dangerous hobbies or bad health.
- Age 20. Male $32.35, Female $27.00
- Age 25. Male $32.35, Female $27.00
- Age 30. Male $34.65, Female $30.75
- Age 35. Male $34.65, Female $33.65
- Age 40. Male $41.55, Female $35.40
- Age 45. Male $67.70, Female $58.45
- Age 50. Male $102.60, Female $97.95
- Age 55. Male $117.30, Female $97.95
- Age 60. Male $195.10, Female $158.50
Factors that affect John Hancock life insurance rates
Underwriting standards are lax at John Hancock. Unlike other big insurers, it accepts applicants who are deemed high-risk due to factors like smoking or age. To get the greatest deals, you’ll need to meet these criteria:
- Tobacco, alcohol and substance use. The greatest rates go to those who haven’t smoked, drunk alcohol, or used drugs in the last ten years.
- Health. If your HDL cholesterol is below 3.5 or your blood pressure is less than 140/85 for those 18 to 50, or 145/90 for those 51 to 70, you may do better on the test.
- Lifestyle. John Hancock’s Vitality program gives discounts and rewards to customers who exercise regularly, maintain a healthy weight, or demonstrate other healthy behaviors.
- Driving record. It is possible to acquire a better rate if you haven’t had any severe traffic offenses or DUIs during the last three years.
How to get a quote from John Hancock life insurance
Term life insurance applications are available online. Call 800-721-3774 and a professional will guide you through the process for any other policies.
- For more information on term life insurance, visit the John Hancock website and select Insure > Term Life Insurance > Get Quote.
- Indicate if you smoke and how much coverage you require in the fields provided. Simply fill out your contact information (email and phone number) before clicking Get a Quote.
- We’ll get back to you with a price estimate as soon as we can. Applying for insurance is as simple as choosing your term and coverage amount and then making any necessary changes.
- When applying for a coverage worth less than $250,000, you’ll get a decision right away. Otherwise, it might take up to three days for your application to be approved.
John Hancock offers term and permanent life insurance
Term and permanent insurance are available from John Hancock, however some customers desire whole life plans, which are not offered by the company.
- Term. Term life insurance with death benefits ranging from $50,000 to $65 million can be obtained for terms of 10 to 30 years. You may apply for coverage of up to $3 million online.
- Universal. Ensures you’re covered for the rest of your life, has an interest-bearing cash value, and enables you to change your premiums and death benefits as necessary.
- Indexed universal. The cash value is linked to a stock market index, such as the S&P 500. It offers customizable premiums and death benefits, as do all universal insurance.
- Variable universal. Most likely to gain in value through the purchase of stocks, bonds, and mutual funds but also carries the most risk.
- Final expense. This insurance, which is available to persons 55 to 80 years of age, provides coverage ranging from $2,000 to $20,000. It’s meant to pay for last expenditures like funerals and burials, and it doesn’t need a medical check to apply.
John Hancock life insurance riders
Policyholders can add the following riders to their policies, at the insurer’s discretion:
- Long-term care. Pay for a nursing home using some of the money you save from your life insurance policy. If you can’t eat or clothe yourself, you must be unable to execute two other ADLs.
- Waiver of premium. Premiums are suspended if you become handicapped and are unable to work for a continuous period of at least six months.
- Accelerated death benefit. If you’re diagnosed with a terminal disease and have fewer than 12 months to live, you may be eligible for up to 50% of your death benefit.
- Conversion. If you choose this option, the regular conversion period is extended to the entire level term length.
John Hancock life insurance reviews are mostly positive
The Better Business Bureau has recognized John Hancock and given it an A+ grade for its operations and customer service. For an insurance firm, the BBB’s complaint count of 67 in the previous three years indicates some unhappiness, even if it is minimal. One out of five customers give the insurance a negative review, with many citing the company’s long claim processing times.
John Hancock has a TrustPilot rating of 4.3, with more than 70 customer ratings. Users love the rewards programs and how simple it is to handle their policies, but some have complained that their claims have been paid out slowly.
Checkout our review of Illinois Mutual Life Insurance Review for another life insurance review.