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John Hancock Life Insurance Ratings

Ranked No. 5 Overall
Customer Satisfaction Ratings (based on 100 survey results)
ProductOverall
HOW WE WEIGH OUR SCORE
Customer ServiceValue for PriceWebsite and Apps% Who Would Recommend to a FriendA.M. Best
Financial
Strength
Ratings
Effective as of:
WHAT IS THIS RATING?

A.M. Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations.

A.M. Best's rating is NOT used to calculate the overall score but it is important information to consider when choosing an insurance company.

Life
87.47
out of 100
87.20
88.20
84.84
86%
A+
October 31, 2019
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Reasons for Buying from John Hancock

Customers of John Hancock originally decided to purchase from the company for these reasons:
Offered best price21%
Reputation18%
Recommended by friend or family member16%
Other11%
Saw online ad10%
Was the company my parents had8%
Financial Strength rating7%
Saw TV commercial5%
The company website and mobile apps are easy to use and helpful3%
I had other insurance with this company1%

How likely are you to recommend this company to a friend, coworker or family member?

I probably would recommend this company. 45%
I would definitely recommend this company. 41%
Neutral 12%
I probably would not recommend this company. 2%
I would not recommend this company. 0%

What kind of insurance do you have?

Term 36%
Permanent, including whole life 35%
Both 28%
Other 1%

How much do you pay annually for your life insurance policy

$750-$999
23%
Less than $250
17%
$1,250 - $1,499
10%
$1,500 - $1,749
10%
$500-$749
9%
$2,000 - $2,249
8%
$1,000 - $1,249
7%
$4,000 or more
4%
$250 - $499
4%
$1,750-$1,999
4%
$2,250 - $2,499
3%
$2,500-$2,749
1%

Website and Apps

How easy to use and how helpful they are
43%Satisfied - Fulfills my needs okay
37%Completely satisfied - Gives me what I want and more
9%Never visited or used website or mobile app
8%Neutral - No good or bad feelings on this
2%Not Satisfied - Is not a good website or app
1%Very unsatisfied - Their digital offerings are not good at all or nonexistent

How You Prefer to Deal with Insurers

37%Phone
27%In person
26%Interactive website
8%Mobile App
2%Email
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About John Hancock

Products offered:

  • Vitality Program
  • Term life insurance
  • Universal life insurance
  • Indexed universal life insurance
  • Variable universal life insurance

Additional products offered:

  • John Hancock Vitality Program
  • Long-term care insurance
  • Retirement plans
  • 529 Savings plans
  • Investment accounts

Best Life Insurance Companies 2020: How John Hancock Life Insurance Compares

John Hancock had a respectable showing in the 2020 Best Life Insurance Companies survey with a score of 87.47, which gave it 5th place overall. The company had a very solid showing as it also ranked 5th across the board for the individual metrics of value for price, customer service and ease of use for website and apps. A majority of surveyed policyholders, 86%, said they have already or would recommend John Hancock Life to others.

Gauging an insurance company

Before buying with a company it is wise to check on a company's financial strength and complaint record. The A.M. Best rating listed above gives you an idea of John Hancock's financial strength to pay claims. A complaint ratio can be found on the National Association of Insurance Commissioners (NAIC) site. The median complaint ratio from the NAIC is always 1.00. This means half of the insurers have a complaint ratio of under 1.00 and half have a ratio above. Basically, numbers lower than 1.00 are better with fewer complaints than the median and a number higher than 1.00 has more complaints than the median. For life insurance, John Hancock (NAIC# 65838) had a complaint ratio of 0.14 for individual life and 7.39 for group life for 2018. 2019 complaint numbers will be available in 2020.

Company Background

Innovation in life insurance

Since 1862, John Hancock has been providing leading insurance and financial service products including life insurance and mutual funds. Operating as Manulife Financial in Canada and Asia, it offers clients a diverse range of financial protection products and wealth management services through an extensive network of employees, agents and distribution partners.

The company has created a Vitality program as a way to save on life insurance premiums and receive rewards and discounts based on a healthy lifestyle. The more activities you complete, such as regular check-ups and staying tobacco-free, the better status you earn within the program -- earning you a better rate.

Contact information

Corporate headquarters

601 Congress Street

Boston, MA 02110-2805

Customer Service Center
1 John Hancock Way Suite 1350
Boston, MA 02217-1350
General: (800) 505-9427

Life insurance: (800)732-5543

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