John Hancock Life Insurance Review 2026

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.

A life insurance rider is 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 availability varies by state. Contact John Hancock or a licensed agent to confirm which riders are available in your location.

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, and 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.

John Hancock’s term life insurance pricing varies more by coverage level than most insurers. At $100,000 in coverage, rates are 40% to 43% below the national average for both men and women, making it one of the more competitive options in our analysis for buyers seeking modest coverage.

That pricing advantage narrows as coverage amounts increase. At $500,000, rates move slightly above the national average, then widen to 6% to 7% above average at $1.5 million and $2 million coverage levels. Buyers seeking $1 million in coverage fall into a relative sweet spot, with rates just $2 per month below the national average for both genders.

John Hancock's Vitality wellness program can lower your effective premium if you maintain healthy habits, an advantage not captured in the rate table below. For some buyers, those savings may help offset the above-average rates at higher coverage tiers.

* Rates shown are based on a nonsmoking 40-year-old in average health with a 20-year term life insurance policy.

Like its traditional term policies with standard underwriting, John Hancock’s no-exam term pricing is competitive at lower coverage levels but becomes more expensive above $500,000 in coverage. At the $100,000 and $250,000 levels, rates run 16% to 40% below the national average for both men and women. That advantage disappears at $500,000 and widens further at higher coverage amounts.

Compared to its fully underwritten policies, John Hancock’s no-exam coverage remains reasonably priced at lower coverage amounts, but the cost gap widens steadily as coverage increases. At the $1 million level, no-exam premiums cost $8 to $10 more per month. By $2 million in coverage, the difference rises to $18 more per month for women and $24 more for men. Over the course of a year, that adds up to an additional $216 to $288 in premiums.

John Hancock’s traditional underwriting delivers stronger value for healthy applicants seeking larger policies. Buyers who can qualify medically will save over time. No-exam coverage makes the most sense for applicants prioritizing faster approval or avoiding the medical exam process altogether.

* Rates shown are based on a nonsmoking 40-year-old in average health with a 20-year term life insurance policy.

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 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.

John Hancock costs more than several direct competitors at higher coverage levels. On our standard $500,000, 20-year term baseline for a nonsmoking 40-year-old, Banner Life and Transamerica both cost $37 per month for women and $46 for men, compared to John Hancock's rates of $50 for women and $61 for men. If the lowest rate is your priority, review the cheapest life insurance options before buying.

John Hancock doesn't offer whole life insurance or final expense coverage. If you want permanent coverage with guaranteed cash value growth and dividend eligibility, the best whole life insurance companies will give you a better fit.

• Buy John Hancock if you're an older applicant or have diabetes. The company accepts applicants up to age 80 for term coverage and up to 90 for permanent policies, a higher ceiling than most carriers. MoneyGeek ranks it among the best life insurance companies for diabetics because Aspire with Vitality provides activity-based rewards and premium credits specifically designed for people managing type 1 or type 2 diabetes.
• Buy John Hancock if Vitality rewards appeal to you. If you're motivated to track healthy habits, Vitality PLUS can reduce your effective premium over time. That's a real differentiator you won't find at other carriers.
• Look elsewhere if you want the lowest rates on large policies. At coverage amounts of $500,000 and above, John Hancock's rates run at or above the national average. Competitors like Banner Life and Transamerica price lower. If cost is your only priority, compare quotes from multiple carriers before deciding.
• Look elsewhere if you want whole life insurance. John Hancock doesn't offer whole life or final expense coverage. If you want guaranteed cash value growth, dividend eligibility or a small permanent death benefit, you'll need a different carrier.

Compare John Hancock alongside other top-rated carriers to find the best life insurance for your situation.