Know how each type of life insurance works before you compare your options. John Hancock offers term life insurance and permanent life insurance, so you can choose coverage that fits your goals and what you’re comfortable paying.
John Hancock Life Insurance Review 2026
John Hancock offers multiple life insurance options with competitive rates. MoneyGeek ranks it among the best for diabetics.
Read our John Hancock life insurance review below.
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Updated: March 31, 2026
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At a Glance: John Hancock Life Insurance Review
John Hancock
MoneyGeek Rating
3.8/ 5
3.6/5Affordability
3.7/5Customer Experience
4.5/5Coverage Points
Average Monthly Cost
$50 (F), $61 (M)Based on a 20-year term policy with $500,000 coverage amount for a 40-year-old nonsmoker with average weight and health.Ages Supported
18-80
John Hancock Life Insurance Products
Term Life Insurance Options
Term life insurance covers you for a set number of years. Beneficiaries will receive a death benefit only if the policyholder passes away during the specified period. Term policies cost less than permanent life insurance because they don't build cash value.
John Hancock’s term insurance has four term lengths, including 10, 15, 20 and 30 years. Coverage amounts range from $250,000 to $65 million.
Although term life insurance doesn't accumulate cash value, some John Hancock term policies offer a conversion option to permanent coverage. Certain riders may be available for an additional cost, depending on the policy. Eligible term life insurance policyholders can participate in the John Hancock Vitality PLUS program.
Universal Life Insurance Options
Universal life insurance provides lifetime coverage and includes a cash value component that policyholders can access through loans or withdrawals.
Universal Life Insurance
John Hancock offers basic universal life insurance, which has the potential for cash value growth. Depending on your needs, you can withdraw the cash value or borrow from your policy. Unpaid loans reduce both the cash surrender value and the death benefit. You also risk policy lapse if total loans plus interest exceed the policy's cash value.
The carrier lets you adjust the amount and frequency of their premium payments.
Indexed Universal Life Insurance
Similar to universal life, this type of policy also offers lifetime coverage, cash value growth and premium flexibility. The indexed universal life insurance's earning potential is based on a linked indexed account, which is designed to limit downside risk while offering growth potential tied to market performance.
Variable Universal Life Insurance
Variable universal life insurance offers higher growth potential because cash value depends on investment performance. Cash value growth depends on the performance of selected investment options. Depending on your investment strategy, you can also transfer funds across different investment options.
John Hancock's Life Insurance Riders
A life insurance rider is an optional coverage you can add to your policy at an additional cost. Riders let policyholders adjust coverage to match specific financial risks. John Hancock offers four types of riders.
Rider | Description |
|---|---|
Disability Rider | Waives premiums if the policyholder is unable to work for six or more months due to a disability. |
Unemployment Waiver of Protection Rider | Waives premiums for up to 12 months if the policyholder becomes unemployed. |
Accelerated Benefit Rider | Allows access to the death benefit, up to $1 million, if the insured is diagnosed with a terminal illness. |
Critical Illness Benefit Rider | Offers a lump-sum benefit of up to $250,000 if the insured gets diagnosed with a qualified critical illness. |
Rider availability varies by state. Contact John Hancock or a licensed agent to confirm which riders are available in your location.
How Much is a John Hancock Life Insurance Policy?
John Hancock sets life insurance premiums based on age, health history and smoking status. Younger applicants pay less. Health history is evaluated through medical exams and questionnaires. Smokers pay more than nonsmokers.
Coverage amount and policy type also impact premiums. Term policies cost less than permanent coverage. Longer terms usually have higher premiums than shorter ones. John Hancock reviews your application details and assigns a risk class, which determines your final rate.
The table shows estimated monthly and annual premiums for term life insurance policies:
Data filtered by:
20
40
Female
No
| $100,000 | $9 | $108 |
| $250,000 | $22 | $269 |
| $500,000 | $50 | $604 |
| $750,000 | $67 | $808 |
| $1,000,000 | $84 | $1,006 |
| $2,000,000 | $180 | $2,157 |
| $3,000,000 | $272 | $3,262 |
| $5,000,000 | $449 | $5,389 |
| $10,000,000 | $900 | $10,799 |
Life insurance rates and availability vary by state, age, health and other factors. Rates shown are estimates based on our survey methodology and may not reflect your actual premium.
How to Buy Life Insurance From John Hancock
Buying John Hancock life insurance involves comparing options, completing underwriting and submitting an application.
- 1Do Your Research
Review John Hancock's policy options and available add-ons. Send an online request to speak with a representative for personalized guidance.
- 2Compare Quotes
Quote at least three insurers at identical coverage levels. Each company prices risk differently, so side-by-side comparison is the only way to find the best rate for your profile.
- 3Health Check
The application includes a health screening: a questionnaire, a brief interview and, in most cases, a medical exam. Results determine your risk classification and final premium.
- 4Approval
Review the policy terms before submitting, including fees, penalties and any conditions. Once submitted, John Hancock reviews your application and issues an approval decision.
John Hancock's Life Insurance Claims Process
To start a life insurance claim, notify the insurer after the policyholder’s death. Beneficiaries can submit a claim through the online form or call 888-887-2739 to begin the process.
John Hancock asks for a certified copy of the death certificate along with completed claim forms. The company reviews all documents and may request additional details before moving forward. Beneficiaries receive updates as the claim is processed.
Visit John Hancock's website for step-by-step instructions and the full list of required forms.
John Hancock vs. Other Life Insurance Companies
John Hancock's coverage options works well for older buyers. The company accepts applicants up to age 80 for term coverage and offers up to $65 million in coverage, which is why MoneyGeek ranks it among the top options for term life insurance for seniors. That high ceiling is an advantage if you need substantial coverage late in life.
John Hancock costs more than several direct competitors. Banner Life and Transamerica both come in below John Hancock on the standard baseline profile. If you want the lowest rates, review the cheapest life insurance options before buying.
The company also doesn't offer whole life insurance, which rules it out for people who want permanent coverage with guaranteed cash value growth and dividends. If that's a priority, exploring the best whole life insurance companies will help you find a better fit.
Is John Hancock Right for You?
If you’re older and still want life insurance, John Hancock is worth a look. The company accepts applicants up to age 80 for term coverage and up to 90 for permanent policies, which gives you more room than many insurers with tighter age cutoffs. MoneyGeek’s John Hancock life insurance review also ranks it among the best life insurance companies for diabetics.
It may not suit those who want dividend-paying policies, since it doesn't offer whole life insurance.
Compare John Hancock alongside other top-rated carriers to find the best life insurance for your situation.
John Hancock Life Insurance Policies: FAQ
Is John Hancock life insurance legit?
Yes. John Hancock has operated for more than 160 years and holds an A+ rating from AM Best.
Can you borrow from your John Hancock life insurance policy?
Yes, people with universal life insurance policies can borrow from the account’s cash value.
What’s the maximum amount of life insurance coverage available from John Hancock?
John Hancock offers life insurance coverage of up to $65 million.
MoneyGeek scored John Hancock life insurance using collected quotes for a 40-year-old male nonsmoker in average health seeking $500,000 in coverage on a 20-year term. The overall score weights Affordability at 50%, Customer Experience at 30%, and Coverage Options at 20%. Customer Experience is based on available customer reviews, J.D. Power satisfaction scores and NAIC complaint index data.
Related Pages: Other Company Reviews
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
Sources
- John Hancock. "LifeCare." Accessed March 28, 2026.
- John Hancock. "Term Life Insurance." Accessed March 28, 2026.
- John Hancock. "Permanent Life Insurance." Accessed March 28, 2026.
- John Hancock. "Life Insurance Claims Center." Accessed March 28, 2026.