John Hancock Life Insurance Plans
About John Hancock
For 150 years, John Hancock has been providing life insurance to clients. Between life insurance and their other offerings, they have 3.5 million policyholders. Their goal is offer innovative and affordable policies that can protect everyone.
Available life insurance plans
Term life insurance is for the short-term, while permanent life insurance has lifetime protection. John Hancock offers both. The term life policy has a straightforward death benefit protection for a specified length of time. It is designed to help pay off debts of the deceased, substitute income for family members, pay for college, and so on.
John Hancock has three options for permanent life insurance: universal life, indexed universal life, and variable universal life.
- Universal life insurance
- Has lifetime protection
- Can be adjusted to meet your needs as time passes
- Choose the timing and amount of premium payments
- Account value goes up based on a credited interest rate (which is subject to change)
- Indexed universal life insurance
- Same features as universal life.
- Additionally, policy earns the interest connected with the performance of indexed account
- Policy doesn’t actually participate in market, so policy’s cash value is protected from market risk
- Depending on the indexed accounts options you go with, the value of your account will be different
- Variable universal life insurance
- Permanent lifetime insurance protection
- Flexible premium payments
- Builds cash value through different investment options, which you choose
- Risk is that your policy can lose cash value based on the market
- Option to move funds from different investment options to increase cash value
The John Hancock Vitality program is open to policyholders. With the free Fitbit the company provides, you can earn Vitality points by living a healthy lifestyle, like going to the gym. Every year, you will receive a status (Bronze, Silver, Gold, or Platinum), and the higher status you attain, you’re rewarded with better discounts and savings.
Do you have questions?
If you have questions about John Hancock or life insurance as a whole, please give an MGA consultant a call at 800-913-3416. We are more than happy to help you any way we can!