John Hancock Life Insurance company was founded in Boston in April of 1862 and was named after one of the signers of the Declaration of Independence. After more than 140 years as a stand-alone company, Canadian-based multinational life insurance company Manulife Financial acquired John Hancock. Since then, the company has operated as a division of Manulife, selling life insurance across the United States.
John Hancock Company History and Highlights
John Hancock has sought to live out their motto in more ways than just selling insurance. John Hancock’s motto revolves around three core principles.
- Empower health and well-being
- Drive inclusive economic opportunities
- Accelerate a sustainable future
In the last decade, this life insurance company has taken action on these core principles by investing in energy and environmental conservation, increasing the representation of women and people of color in their workforce, and most importantly, creating life insurance programs that empower people to live healthier lives.
The life insurance programs under the John Hancock umbrella are John Hancock Vitality and John Hancock Aspire with Vitality.
John Hancock Vitality
The John Hancock Vitality Program aims to help people live healthier lives. This program tracks your exercise, your food-buying habits, and sleep patterns. The healthier the life you live, the more benefits and features John Hancock will offer, such as grocery store savings, retail discounts, fitness devices, and other savings.
John Hancock Aspire with Vitality
John Hancock Aspire with Vitality is specifically for customers with Type 1 or Type 2 Diabetes. Like the John Hancock Vitality program, the Aspire with Vitality program offers rewards for customers who proactively manage their health through exercise, diet, and sleep. In addition to the previously mentioned benefits, these customers also have access to diabetes experts, health coaching, and free diabetes testing devices.
John Hancock Plans and Riders
John Hancock offers two basic life insurance policies – term life insurance and permanent life insurance, as well as various life insurance riders.
Term Life Insurance
John Hancock’s term life insurance policy provides financial protection for a set term.
Features of this plan include:
- Available for people ages 18 to 80
- Term length ranges from 10 to 30 years
- Coverage ranges from $250,000 to $65 million
- Rewards for healthy living
- Can convert to a permanent policy
Permanent Life Insurance
Alternatively, John Hancock offers three types of permanent life insurance policies – universal, indexed, and variable. These permanent life insurance plans last an entire lifetime, as long as the premiums are paid.
Features of these plans include:
- Available for people ages three months to 90 years old
- Coverage ranges from $50,000 to $65 million
- Cash value that grows
- Rewards for healthy living
- Flexible premiums
Riders and Benefits
- Disability rider
- Unemployment waiver of protection
- Accelerated benefit
- Critical illness benefit
- Long-term care rider
- Tax-free death benefit
Ratings, Reviews, and Complaints
John Hancock Life Insurance Company has received three- and four-star ratings from NerdWallet, Investopedia, and Consumer Affairs. Additionally, John Hancock has one of the lowest NAIC complaint index ratings of 0.34. This means the company has fewer complaints than expected based on its size and industry.
Third-Party Financial Strength Ratings
| AM Best | A+ (Excellent) |
| Fitch Ratings | A+ (Excellent) |
| Moody’s | A1 (Excellent) |
| Standard & Poor’s (S&P) | AA- (Excellent) |
Why Principled Life Trusts John Hancock
Principled Life trusts John Hancock because of its exceptional financial ratings and incredibly low complaint index. Also, John Hancock’s life insurance policies are simple and easily accessible. These factors prove that it is a stable company with above-average customer service.
