Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jul 19, 2021

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The Truth in a Nutshell

  • John Hancock Life Insurance is one of the top 10 largest life insurance companies
  • John Hancock offers special programs like Aspire and Vitality, making it a good option for those living with diabetes or trying to improve their health
  • John Hancock life insurance rates are lower than the industry average

John Hancock Insurance is one of the top 10 largest life insurance companies.

But how much does John Hancock life insurance cost? And why is insurance so expensive?

Our John Hancock life insurance review explores everything you need to know about getting John Hancock life insurance quotes, the different types of policies available, and much more.

If you want to compare John Hancock insurance against other life insurance companies, enter your ZIP code in our free online quote tool above to explore the best companies in your area.

What is the John Hancock Life Insurance Company?

John Hancock Life Insurance Company was founded in 1862 and was named after John Hancock, a prominent leader in the American Revolution. The company is based in Boston, Massachusetts, and has around 6,700 employees.

John Hancock is well-known for the special programs that offer rewards for living a healthy lifestyle and support healthy living in individuals with diabetes.

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What plans does John Hancock offer?

John Hancock offers term life insurance and various permanent life insurance policies, but they do not offer whole life insurance. John Hancock long term care, riders, and special programs including Aspire and Vitality are also available.

After deciding on a policy, you have the option to choose one of the programs John Hancock offers.

Aspire

Aspire is a program that is specially made for individuals living with type 1 or type 2 diabetes. It works by rewarding healthy behavior and providing incentives for healthy living.

Some benefits of the Aspire program include savings on healthy food, workout tips, and the opportunity to access Onduo’s virtual diabetes clinic.

In a report done by the CDC, 34.2 million people live with diabetes in the United States. Many people with diabetes often have difficulty finding affordable life insurance companies, so Aspire makes John Hancock a good option for diabetic individuals.

Vitality, Vitality GO, and Vitality PLUS

Vitality is a program offered by John Hancock insurance that incentivizes healthy habits by rewarding physical activity, healthy eating choices, and getting a good night’s sleep.

The more active you are, the more rewards you can earn. This makes the Vitality program a good option for individuals who are trying to improve their health.

Vitality GO and Vitality PLUS are two versions of the John Hancock Vitality Program.

Vitality GO is the standard program and offers discounts, savings, subscriptions, and more. Vitality PLUS offers everything Vitality GO offers with added rewards.

Take advantage of your John Hancock insurance login to read more about the special programs offered.

How much are John Hancock life insurance rates?

Life insurance rates are determined by factors such as age, health status, and coverage amount.

Let’s take a look at some sample rates based on a male in good health with a $500,000 20-year term policy.

Comparing John Hancock Life Insurance Rates with the Industry Average

AGEJOHN HANCOCK AVERAGEINDUSTRY AVERAGE
20s$27.66$28.02
30s $28.61$32.06
40s $53.61 $60.97
50s $127.81$152.00
60s$459.16$152.00
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While John Hancock life insurance rates are generally cheaper than the industry average, keep in mind that these rates will vary from person to person.

The Pros and Cons of John Hancock Life Insurance

John Hancock is a great option for those trying to live a healthier lifestyle, but it does have some disadvantages. Let’s take a look at some pros and cons.

John Hancock Life Insurance Pros & Cons

John Hancock ProsJohn Hancock Cons
Rewards for healthy lifestylesMixed customer reviews
Special program for individuals with diabetesNot BBB accredited
Variety of riders availableWhole life insurance isn't available
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While John Hancock isn’t BBB accredited, it’s one of the best life insurance companies for people with diabetes.

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How do I cancel my John Hancock life insurance policy?

If you want to cancel your life insurance policy, you’ll need to fill out a Policy Surrender Form and mail it back to John Hancock. Processing generally takes 7-10 business days to complete.

You can also call the John Hancock insurance phone number at 800-732-5543 and customer service can answer any questions you have about the process.

John Hancock Life Insurance: What’s the bottom line?

John Hancock is a good option for individuals with type 1 or type 2 diabetes, as well as those trying to live a healthier lifestyle.

Whole life insurance isn’t available at John Hancock, so if you want a permanent policy your only option is to purchase one of the universal life insurance policies offered.

John Hancock life insurance rates are generally cheaper than the industry average, but will vary depending on your age, health status, and coverage amount.

Before you buy John Hancock life insurance, use our free comparison tool below to see what companies offer affordable life insurance in your area.