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New John Hancock term life portfolio features significantly lower premiums to appeal to broad range of consumers

Insurance Forums Staff

BOSTON, Feb. 23, 2017 – John Hancock today announced a new term life insurance portfolio featuring significantly lower premiums for consumers and new features and benefits, including an Unemployment Protection rider.

policies are now even more affordable for a greater number of families who are looking to protect their financial futures.

In addition to highly competitive rates, the new John Hancock Term and John Hancock Term with Vitality products now include an Unemployment Protection rider(1), which waives life insurance premiums for up to 12 months, should the insured become unemployed. John Hancock Term and John Hancock Term with Vitality also offer guaranteed protection for 10-, 15- or 20-year durations. Plus, policyholders can also take advantage of a conversion option that gives them more flexibility to convert to a John Hancock permanent policy, should their needs change.

According to an industry survey, 80% of consumers who believe they need life insurance haven’t purchased it because they think it’s too expensive(2),” said Mike Doughty, President, John Hancock Insurance. “With one of the fastest growing Term Life portfolios in the industry, we seek to change this perception by making life insurance even more affordable for a greater number of consumers to take that important step toward protecting their future.”

John Hancock Term with Vitality policyholders have the opportunity to further reduce their premiums, up to 10% (3), and earn valuable rewards for the everyday things they do to stay healthy like walking, eating well and going to the doctor. In fact, the healthier their lifestyle, the greater their premium savings and rewards, including $600 in savings on healthy food purchases(4), as well as the opportunity to earn an Apple Watch Series 2 by exercising regularly(5). John Hancock is also giving every new policyholder a complimentary Fitbit® to help them get started.

In addition to term life insurance, John Hancock offers a broad suite of diverse permanent insurance products with Vitality including universal life insurance, indexed universal life insurance and variable universal life.

About John Hancock Financial and Manulife: John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Assets under management and administration by Manulife and its subsidiaries were $977 billion (US $728 billion) as at December 31, 2016. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife can be found on the Internet at manulife.com.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at www.johnhancock.com.


1-The Unemployment Protection Waiver of Premium Rider will waive 12 months of premiums for base policy and all riders in the event you become unemployed, up to an annual premium amount of $10,000 and for policies up to $5,000,000 in coverage. This benefit can be used twice during the level term period. There is a 12-month waiting period before you can submit a claim for this benefit. To be approved you must submit proof that you have been receiving federal or state unemployment benefits for at least 4 consecutive weeks. The maximum age to exercise the right to use this rider is age 65. There is a charge for this rider.

2-2015 Insurance Barometer Study by Life Happens and LIMRA.

3-Premium savings are in comparison to the same John Hancock policy without the Vitality program. Annual premium savings will vary based upon the level of the insured’s participation in the John Hancock Vitality program.

4-HealthyFood savings are based on qualifying purchases and may vary based on the terms of the John Hancock Vitality program.

5-Apple Watch Series 2 is only available on term policies with face amounts of ≥ $2,000,000. Apple Watch Series 2 can be ordered for an initial payment of $25 plus tax and over the next two years, monthly payments are based on the number of workouts completed. An iPhone 5 or later is required to use Apple Watch Series 2. The Retail Installment Agreement with the Vitality Group will need to be signed electronically at checkout. Apple is not a participant in or sponsor of this promotion. Apple Watch is a registered trademark of Apple Inc. All rights reserved. Please note: Apple Watch Series 2 program is not available in New York.


Insurance policies and/or associated riders and features may not be available in all states. Guaranteed product features are dependent upon minimum premium requirements and the claims-paying ability of the issuer.

Vitality is the provider of the John Hancock Vitality Program in connection with policies issued by John Hancock. John Hancock Vitality Program rewards and discounts are only available to the person insured under the eligible life insurance policy. Rewards and discounts are subject to change and are not guaranteed to remain the same for the life of the policy.

Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02210 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595   MLINY022117144



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