John Hancock offers term and universal life insurance, the Vitality program and is a great life insurance company worth considering.
John Hancock Quick Overview
Get the information you need to make an informed decision about your life insurance:
Life insurance products are offered through John Hancock Life Insurance Company USA and John Hancock Life Insurance Company New York.
John Hancock Underwriting Review
Hancock is very competitive for certain high risk life insurance underwriting niches such as cancers, diabetes, HIV, tobacco users for non-tobacco rates and more.
Medical issues where John Hancock is competitive include:
- Cancer Life Insurance
- Heart Disease Life Insurance
- Diabetes Life Insurance
- Life Insurance for People with HIV
- Truvada Life Insurance
Non-medical Underwriting Expertise includes:
- Non-Tobacco Life Insurance
- Private Pilots
If you have diabetes, John Hancock Aspire program is a great life insurance program to consider.
Ratings Information
Hancock was recently ranked as one of the larger US based life insurers, with revenue of $12.2 billion and ranked #11 in overall life insurance sales.
Independent rating organizations reported the following on 02/13/2019
AM Best = A+ (2nd highest of 16)
Moody’s = A1 (5th highest of 21)
S&P = AA- (4th highest of 21)
Fitch = AA- (4th highest of 19)
John Hancock Life Insurance Company USA is available in all states except New York. John Hancock Life Insurance Company New York handles all business in New York.
John Hancock Product Information
John Hancock offers different types of life insurance, including term life insurance and universal life insurance.
John Hancock Term
Features include:
Level Premiums – During the 10, 15 or 20 year term period, premiums remain level.
The conversion period is the lesser of the end of the level term period or age 70.
Term policies may be converted during the first 4 years to any product offered. In policy year 5 or later, the products available for conversion are designated by JH.
Vitality Program
Vitality is a feature offered by John Hancock that rewards consumers for healthy living.
Features include:
Level Premiums – During the 10, 15 or 20 year term period, premiums remain level.
Vitality offers four status levels – Bronze, Silver, Gold, and Platinum.
Attaining higher status levels offers additional benefits such as lower premiums and rewards.
The conversion period is the lesser of the end of the level term period or age 70.
The Vitality status level obtained determines what policies are available for conversion.
Universal Life Insurance Products
John Hancock offers no lapse guaranteed universal life insurance products, universal life products that build cash value, and index universal life products.
Hancock offers a survivorship product for estate planning purposes.
John Hancock Protection IUL and John Hancock Accumulation IUL
Both of these are indexed universal life insurance policies with the Accumulation product offering the potential to build greater cash values.
Minimum Coverage amount is $50,000
This index universal life insurance policy offers you the potential to build cash value over time, based on the performance of the S&P 500 or the Hang Seng index.
These policies offers many features that indexed universal life insurance buyers desire.
We’ll be happy to provide you with illustrations and consumer approved product details when we discuss.
John Hancock Life Insurance Riders
John Hancock offers life insurance riders for their policies.
The riders available will depend on the product type you choose, the state of policy ownership, and other factors that will be explained with 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 to you in the event you are diagnosed as terminally ill.
The exact details vary by state as some states define terminally ill as 12 months while others define it as 6 months. This rider may not be available in all states.
Unemployment Protection Rider
This additional cost rider waives your premium up to $10,000 annual maximum.
The unemployment rider waives 12 months premium and may be used a maximum of two times during your level term period.
Total Disability Waiver (TDW)
This additional cost rider waives all premiums if the insured becomes totally disabled for at least 6 months without interruption. (full details are provided to you with illustrations).
Available at policy issue for ages 20-55.
There is a maximum benefit of $5,000 per month.
If disability occurs prior to age 60, premiums are waived until the earlier of age 94 or until recovery from the disability.
In conclusion:
We’ll let you know what companies have to say in terms of underwriting and price, and we’ll help you with determining the amount of life insurance to consider.
Please take a few minutes to submit your quote request today.
Keep in mind that there is never any pressure or obligation with our life insurance service. We’ll provide you with the information you need in order to make an informed decision about your life insurance.
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