Secure financial outlook:

A strong financial footing and a favorable credit outlook are important factors to consider in your search for a life insurance company. John Hancock delivers on both counts, earning strong reviews from all of the nation's top financial ratings companies. A.M. Best awarded John Hancock the coveted rating of Superior for both its financial strength and its credit outlook. S&P and Moody's also gave John Hancock very favorable ratings when evaluating the company's ability to meet current and future financial obligations. Such high marks are a good indication that John Hancock is a company you can trust over the long term and should ease the mind of even the most cautious insurance buyer.

Reasonable coverage and policy features:

John Hancock's term and universal policies are quite thorough. Term conversion, return of premium, and survivorship and joint coverage options are available, as is a cash surrender option. The company's policy features include many of the industry's standard offerings, including level and variable death benefits, guaranteed level premium and graded premium options, and an interest rate guarantee option. Additional policy features include a term renewal guarantee, an expiration or lapse guarantee, and an exam-free term conversion guarantee.


No whole life insurance coverage:

John Hancock is one of the few major insurers without whole life policies, which is quite a significant omission. Whole life policies are ideal for addressing long-term goals, since they offer predictable annual premiums and a guaranteed cash value. Universal policies, on the other hand, are designed for flexibility, offering policyholders the option to reduce their premiums, though at the cost of giving up guarantees on cash values and death benefits. By not providing a whole life option, John Hancock life insurance ignores a large group of potential policyholders who value predictability over flexibility.

Poor online tools and materials:

While some companies offer exhaustive beginner's guides and highly functional tools, John Hancock provides little more than a glossary and a poorly organized FAQ page. If you're already very knowledgeable about life insurance, the lack of helpful resources may not affect you much. On the other hand, if you're not an insurance expert or if you simply value easy access to helpful information, John Hancock is likely to disappoint you.

Restrictive policy level limitations:

John Hancock life insurance imposes minimum coverage levels of $100,000 or more across their term and universal products. Such high minimum policy levels make it difficult for younger individuals who want a small permanent policy started in order to lock in insurability. With minimum coverage levels in the $100,000 range, the cost of a policy becomes very hard to justify for these types of buyers who can find many other insurers offering affordable policies in denominations as low as $5,000 or $10,000. If you're looking for a policy with low minimum coverage requirements, you'll have to consider other companies.


A.M. Best FSR Rating A+
A.M. Best ICR Rating aa-
Moody's Rating A1
Policy Offerings Term, Universal
Standard & Poor's Rating AA-


  • A.M. Best "Excellent" or Better The insurance company has an A.M. Best rating of "A-" or better.

  • ICR Rating "Stable" The insurance company has an A.M. Best Credit Rating of "Stable" or better.

  • Moody's "Very Strong" The insurance company has a Moody's rating of "Aa3" or better.

  • S&P Rated "Very Strong" The insurance company has an S&P rating of "AA-" or better.

  • Cash Value Access The policy owner can access or borrow against the value of policy accounts.

  • Dynamic Premium Amount You decide the amount and date of premium payments, subject to basic minimums.

  • Expiration or Lapse Guarantee The policy does not expire if premiums paid are insufficient.

  • Graded Premium Option The life insurance company offers a policy that starts with a low initial premium and gradually increases over time.

  • Guaranteed Level Premiums Premiums do not increase over time but remain constant for the entire life of the policy.

  • Interest Rate Guarantee You receive a guaranteed minimum level of interest in the contract.

  • Level Death Benefit A policy where the death benefit remains level is available.

  • Limited Premium Payments Whole life insurance premium payments can be limited to a fixed number of years.

  • No Exam Term Conversion The insurance company guarantees conversion of a term policy to a cash value or permanent policy offered by the life insurance company without a physical exam.

  • Partial Surrenders You can withdraw funds up to a certain percentage of the policy value.

  • Tax-Deferred Growth The cash value of the policy grows tax-deferred.

  • Term Renewal Guarantee You are guaranteed a renewal option annually after term expiration.

  • Variable Death Benefit A policy where the death benefit increases or decreases with your policy account value is available.

  • Dividends The policy owner can receive periodic dividends based on account performance.

  • Paid-Up Additions You can purchase additional insurance with paid-out policy dividends.

  • Waiver of Monthly Deductions Future monthly deductions are waived in the event of disability.

  • Accelerated Benefit for Terminal Illness A rider which grants early access to the death benefit to defray the cost of a terminal illness is available.

  • Accidental Death Benefit A rider that pays an additional death benefit in the event of the accidental death of the insured is available.

  • Additional Insured Rider A rider that extends coverage to an additional person/spouse is available.

  • Child Rider An added rider that covers the death of your child is available.

  • Disability Income Rider An added rider that provides income in the event of a bodily injury that prevents you from working is offered.

  • Estate Protection Rider A rider that provides extra coverage to offset estate taxes if the policy is included in the insured's estate is offered.

  • Final Expenses Policy A rider or a policy that covers funeral expenses is available.

  • Long-Term Care Rider A rider is available that covers the cost of long-term care if needed during the policy term.

  • Whole Life Guaranteed Insurability Rider An option to guarantee future insurability at standard rates without further proof of insurability is available.

  • Cash Surrender Option Policyholders of lapsed or surrendered policies can request immediate cash disbursement or remaining balances.

  • Mortgage Life Option A policy in which the death benefit stays level for a fixed number of years but then decreases over the remainder of the term is available.

  • Return of Premium Option An option is available where the premiums paid over the life of the policy are returned at the end of the term less any deductions or loans taken.

  • Survivorship/Joint Coverage Option The policy covers two people and is paid when the first or the last of the two people covered in the policy dies.

  • Term Conversion Option Conversion to a cash value or permanent policy is offered by the life insurance company.

  • All Policy Types Term, whole, and universal coverage options are available.

  • Flexible Coverage Options Low initial coverage options below $100,000 are available.

  • Whole Life Vanishing Premium Option A whole life policy whose dividends can be used to reduce future premium payments is available.

  • Email/Ticket An email or ticket system dedicated to support is available.

  • Phone You can get support by phone.

  • Social Media You can contact the insurance provider with questions through social media websites.

  • Live Chat You can get support through live chat.

  • Assignment Clause The insurance policy is freely assignable to anyone.

  • Automatic Premium Loan Provision The insurance provider can automatically pay an outstanding premium with a policy loan, preventing a lapse of coverage.

  • Grace Period The insured has a grace period after missing a premium payment before the policy is cancelled.

  • No Medical Exam Required A medical exam is not required in order to qualify for a policy.

  • Waiver of Premium An option that waives the premium payment if the policyholder becomes disabled or otherwise unable to pay is available.

  • Incontestable Clause After an initial period, the provider can no longer contest or revoke the policy.

  • Interest-Free Cash Value Loan You can borrow against the cash value of the policy without paying interest.

  • No Maximum Age No maximum age for policy coverage is imposed.

  • No Maximum Coverage Level The provider does not impose a maximum coverage level.

  • No Minimum Age The provider does not impose a minimum age for policy coverage.

  • No Minimum Coverage Level The provider does not impose a minimum coverage level to start a policy.

  • No Minimum Premium The provider does not impose a minimum premium amount in the early stages of a policy.

  • Policy Discount A discount is offered if you hold additional insurance with the life insurance company.

  • FAQs You have access to a collection of relevant frequently asked questions and answers.

  • Glossary You have access to an online resource that explains commonly used insurance terminology.

  • Learning Resources You have access to online resources that explain the various types of life insurance.

  • Claim Status and Management Death claims can be managed online.

  • Level of Coverage Calculator An online tool to determine the level of insurance coverage that you need is available.

  • Online Agent Contact You can forward the details of your online rate quote directly to an agent for review.

  • Online Purchase You can purchase a new policy over the Internet.

  • Online Quotes You can obtain a term insurance quote online.

  • Policy Selection Guidance A tool or guide to help you select the best type of coverage is offered.

  • Automatic Payments Premium payments can be automatically scheduled.

  • Bank Account Payment You can pay your premiums with a linked bank account.

  • Online Premium Payment You can pay your premiums online.

  • Single Premium Payment An option to pay a single life premium payment up front for whole or universal life insurance is available.

  • Credit Card Payment You can pay your premiums with a credit card.

  • Phone Payments You can pay your premiums over the phone.

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