Looking at John Hancock for life insurance? We tell you everything you need to know about this company.
This guide breaks down their life insurance products, financial strength, expertise in high-risk underwriting, and how they compare to other companies.
I used my experience and knowledge as a contracted agent who works with John Hancock to review products, underwriting, financial strength, competitor comparisons, and more!
Company Overview
John Hancock Life Insurance Company has been in business for over 160 years. As a U.S. subsidiary of Manulife (one of Canada’s largest financial services firms), Hancock serves more than 3.5 million policyholders nationwide.
They offer a full range of products—from basic term insurance to advanced universal life options—with strong financial backing and innovative wellness programs.
Financial Strength
John Hancock has the following ratings:
AM Best: A+ (2nd highest of 16)
Moody’s: A1 (5th highest of 21)
S&P: AA- (4th highest of 21)
Fitch: AA (3rd highest of 19)
John Hancock remains one of the more financially secure life insurers in the U.S., with ratings similar to those of Prudential and Protective Life.
John Hancock Underwriting Highlights
If you’ve been told you’re “high-risk”, John Hancock may be a strong option. Medical conditions that they do well with include:
| Condition | Competitors to Compare |
|---|---|
| Diabetes | Corebridge Financial, Banner Life, Prudential |
| Heart Disease | Prudential, Lincoln Financial, Principal |
| Cancer History | Banner Life, Corebridge Financial, Lincoln Financial, Prudential |
| HIV+ | Pacific Life, Prudential |
| Private Pilots | Prudential, Lincoln Financial |
| Cigars | Lincoln Financial, Prudential, Minnesota Life |
John Hancock also tends to be more lenient than many insurers when there’s a family history of early heart disease, often offering preferred rates, while others (like Transamerica) might downgrade you to Standard Plus.
Vitality & Aspire Programs
Vitality – A reward-based wellness program that offers potential premium discounts for healthy behaviors. Policyholders earn points by exercising, getting annual checkups, or wearing a Fitbit or Apple Watch.
Aspire – Designed for type 1 and type 2 diabetics, this includes:
- One-on-one coaching
- Glucose tracking
- Premium savings based on health management
These programs set John Hancock apart as it is the only company that offers programs like this.
Life Insurance Products Offered
John Hancock offers a complete range of policy types, including:
- Term life insurance
- Universal life insurance
- Index universal life insurance
Whether you need life insurance for family protection, business, or estate planning, John Hancock offers products to meet your needs.
Protection Term
Straightforward term life insurance with level premiums.
Protection Term Features include:
- Term Lengths Available
- 10-year term – Ages 18-80
- 15-year term – Ages 18-75
- 20-year term – Ages 18-65
- 30-year term – Ages 18-55 (50 for smokers) Not available in NY
- Minimum Face Amount – $250,000
- Maximum Face Amount – None, subject to retention and reinsurance limits
- Riders available include:
- Vitality Plus Program
- Total Disability Waiver Rider
- Accelerated Benefit Rider
- Unemployment Protection Rider
You may convert your John Hancock term life insurance policy, subject to the rules for your specific policy. The conversion period is the lesser of the end of the level term period or reaching age 70.
If you convert your policy during the first four years, all permanent products John Hancock offers are available.
Vitality Term
Vitality offers premium savings based on your health and activity levels. The more you participate in the wellness program, the more you can save. Highlights include:
- Vitality Status Levels:
- Bronze
- Silver
- Gold
- Platinum
- Term Lengths Available:
- 10-year term – Ages 20-80
- 15-year term – Ages 20-75
- 20-year term – Ages 20-65
- 30-year term – Ages 20-55 (50 for smokers)
- Minimum Face Amount – $250,000
- Maximum Face Amount – $30 Million
- Riders Available Include:
- Estate Preservation Rider
- Total Disability Waiver Rider
- Accelerated Benefit Rider
- Unemployment Protection Rider
If you’re willing to share healthy lifestyle choices with John Hancock, you may be able to save on your premiums.
Universal Life (UL) Products
John Hancock has several choices if you’re looking for a universal life insurance policy.
- Protection Universal Life
- Protection Survivorship Universal Life
- Accumulation Index Universal Life
- Protection Index Universal Life
- Protection Survivorship Index Universal Life
- Accumulation Variable Universal Life
- Protection Variable Universal Life
- Protection Survivorship Universal Life
Below is a quick overview of each policy type. We can compare other companies to Hancock, including Lincoln, AuguStar Life, Protective, etc.
Universal Life Products by John Hancock
Universal life policies include the Protection UL and the Protection Survivorship UL.
These policies are designed to provide low-cost, guaranteed, death benefit protection to age 121.
- Issue Ages:
- Single Life: 3 months – Age 90
- Survivorship: Age 20-90
- Policy Riders:
- Vitality Plus
- LTC Rider
- Chronic & Terminal Illness Riders
- Cash Value Enhancement
- Policy Split Option on Survivorship
These policies are popular for estate planning, wealth transfer, and business planning.
Index Universal Life Products by John Hancock
John Hancock offers the Protection IUL and Accumulation IUL. These are indexed universal life insurance policies with the Accumulation product offering the potential to build greater cash values.
This index universal life insurance policy offers interest crediting based on the performance of the S&P 500 or the Hang Seng index.
Other index universal life policies include AXA Equitable, Lincoln National, and North American.
John Hancock Life Insurance Riders
John Hancock offers life insurance riders for their policies.
The riders available depend on the product, the state of policy ownership, and other factors that will be explained in your quotes.
Accelerated Benefit Rider
Hancock’s accelerated benefit rider is a no-cost rider that accelerates up to 50% of the death benefit up to $1,000,000.
The exact details vary by state; some states define terminal illness as 12 months, while others define it as 6 months. This rider may not be available in all states.
Cash Value Enhancement Rider
This rider enhances the cash value of a universal life policy during the initial years when there is a surrender charge for canceling coverage.
It’s good to have if you may consider canceling coverage during the initial surrender period.
Unemployment Protection Rider
This additional cost rider waives your premium up to a $10,000 annual maximum.
The unemployment rider waives 12 months’ premium and may be used up to twice during your level term period.
Total Disability Waiver (TDW)
This additional cost rider waives all premiums if the insured becomes disabled for at least six months without interruption.
Available at the policy issue for ages 20-55.
There is a maximum benefit of $5,000 per month.
If disability occurs before age 60, premiums are waived until the earlier of age 94 or until recovery from the disability.
Stand-alone disability insurance policies are not available at John Hancock.
FAQ
Yes. Backed by Manulife and top-rated by agencies like AM Best and S&P, John Hancock is financially strong and offers a wide range of flexible products.
Yes. John Hancock is one of the few carriers that may offer non-tobacco rates even with a positive nicotine test if usage is limited to cigars, pipes, or chewing tobacco.
Yes. Through the Aspire program, they offer underwriting credits and support tools specifically for applicants with diabetes.
Final Thoughts
John Hancock is a strong contender if you’re looking for competitive underwriting, especially if you have health risks like diabetes or a family history of heart disease. Their wellness-focused programs and broad product portfolio make them a smart choice for many consumers.
Want to compare John Hancock with other top-rated life insurance companies?
Request a quote today—no pressure, no obligation.
