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John Hancock Life Insurance Review 2020

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at a glance

  • Discounts and rewards offered for healthy habits.
  • Offers coverage for people with diabetes who meet certain criteria.
Shopping for life insurance during the pandemic? Be aware that insurers may have changed their products and policy applications. For the latest information on how to cope with financial stress during this emergency, see NerdWallet’s financial guide to COVID-19.

John Hancock is the U.S. division of Manulife Financial Corp., a global publicly traded financial services company based in Canada.

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John Hancock life insurance

4.0 NerdWallet rating

John Hancock earned 4 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account complaint data from the National Association of Insurance Commissioners and financial strength ratings from A.M. Best.

Based on these ratings, John Hancock is among NerdWallet’s Best Life Insurance Companies for 2020.

John Hancock’s Vitality program is available on all life insurance policies. It gives access to fitness and nutrition information through an app and website and rewards healthy activities with discounts.

Life insurance options include:

Term life. Terms of 10, 15 and 20 years are available, and many term life insurance policies can be converted to permanent coverage. You can get an estimated quote on the website for policies of $25,000 to $5 million if you provide contact information.

Permanent life. The company offers universal, indexed universal and variable universal life insurance. It also offers guaranteed-acceptance whole life insurance of up to $20,000 for funeral and other final expenses.

Coverage for people with diabetes. John Hancock’s Aspire program pairs a term or permanent life insurance policy with a diabetes management app and health coaching. In 2018, John Hancock says coverage was approved for two-thirds of applicants with Type 1 or Type 2 diabetes in addition to other related conditions.

Guaranteed-issue whole life. This coverage, offered to people ages 55 to 80, is designed for paying end-of-life expenses. Coverage amounts range from $2,000 to $20,000, and acceptance is guaranteed with no medical questions or exam. The full benefit isn’t paid out if the insured person dies within the first two years, unless the death results from an accident.

John Hancock complaints and customer satisfaction

John Hancock drew fewer than the expected number of complaints to state regulators for a company of its size, according to three years’ worth of data from the National Association of Insurance Commissioners.

John Hancock scored among “the rest” (the lowest rating) for overall customer satisfaction in a 2019 J.D. Power U.S. life insurance survey. The insurer ranked No. 17 overall out of 24 companies included in the survey.

Customer satisfaction category John Hancock's score
Overall satisfactionBelow average
Billing and paymentAbout average
PriceAbout average
Policy offeringsAbout average
InteractionBelow average
CommunicationAbout average

More about John Hancock

In addition to life insurance, John Hancock offers other financial products and services including:

Methodology: Life insurance ratings

NerdWallet’s life insurance ratings are based on weighted averages of complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and financial strength ratings from A.M. Best, which indicate a company’s ability to pay future claims. To calculate each insurer’s rating, we adjusted the NAIC and A.M. Best scores to a curved 5-point scale.

These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews.

Methodology: Insurer complaints

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2016-2018. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

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