Final Expense Insurance

5 Key Facts You Must Know About John Hancock Final Expense Guaranteed Acceptance

John Hancock Final Expense

Disclaimer: We do not represent or sell insurance for John Hancock. This is merely our review of their final expense program. If you want to buy their policy, you will need to contact them directly at 1-800-829-6341.

Looking for the inside scoop on John Hancock’s guaranteed acceptance final expense insurance?

Well look no further.

Don’t miss these 5 very important facts about their policy so you can make the right choice for you and your family.

Article Overview (Click a link to jump)


Here Are 5 BIG Details You Must Know About John Hancock Guaranteed Acceptance Final Expense Insurance

Just because they are a very well known and trustworthy life insurance company does not necessarily mean their final expense coverage is best for you (or anyone for that matter).

You should make your decision based on the facts of the policy and how they stack up against other companies offering final expense insurance.

We’ve taken a detailed look at their coverage and have isolated the five most important facts to help you decide if they’re right for you or not.


1) It’s a guaranteed Issue policy with a 2 year waiting period

First, a guaranteed acceptance final expense policy (with any company) is merely one where there is no medical or lifestyle underwriting.

There are no exams, health questions, or anything else to qualify. Simply put, your acceptance is guaranteed regardless of your health.John Hancock Final Expense

Sounds good right? Not so fast…

All guaranteed issue plans, with any carrier, come with a two-year waiting period provision. And yes this includes John Hancock’s.

Here’s how that works.

If the insured passes away for any non-accidental reason, a John Hancock burial insurance policy will not pay the face amount of the policy. Instead, they will simply return all premiums you’ve paid in and tack on 10% interest (of the premiums).

For example, let’s say you buy their policy and make $1000 in payments over 12 months and then you pass away. Your family would receive a check for $1100 ($1000 plus 10%= $1100).

One day after the two-year mark, your policy would pay out for any reason moving forward.

The only way your family would get a check for the total death benefit during the first two years would be if you passed away specifically from an accident. All other reasons, they just give back the money plus interest.

You should think of guaranteed acceptance coverage plans like turbo charged savings accounts in the first two years.

Now you might be wondering… why do they make you wait two years?

The reason is simple, and remember they know nothing about the health of the people who buy the policy.

If they didn’t have this two-year clause, people on their death bed would take them out and collect a check for tens of thousands of dollars all while only giving the insurance company $50 or $100.

Not exactly a good business proposition for the insurance company.

It would put them out of business over night.


2) It’s Whole Life Insurance

A John Hancock funeral insurance plan is a whole life insurance policy.

For that reason, it’s very simple to understand the details regarding how it works.

John Hancock Final Expense

Other than the waiting period provision, here’s how the policy works:

  • Premiums are locked in and cannot increase
  • Coverage can’t decrease
  • Policy can’t expire at any age

Since it’s life insurance, the policy will simply result in a tax free cash payout to the beneficiaries. There aren’t any restrictions how the money is used either.

Below are the age, state, and face amount restrictions.

  • Age Availability: 60-80
  • Face Amount Range: $2,000-$20,000
  • State Availability: All states except FL, PA & NY


3) Other Insurance Companies Offer The Same Exact Policy For Much Less

Here’s the main thing you need to understand.

Regardless of which insurance company you buy one from, all guaranteed issue plans are virtually the same. The only real difference between all of them is the monthly price.

John Hancock Final Expense

So here’s the bottom line

If by some chance you truly need or want a guaranteed issue final expense life insurance policy, you can get one for a lot less money each month if you buy it from carriers other than John Hancock.

Here’s a handful of other companies that offer the same thing for much less.

  • AIG
  • Gerber Life
  • Mutual of Omaha
  • AAA
  • New York Life (AARP)
  • Vantis Life

Below are some quotes comparing AIG vs John Hancock. The numbers speak for themselves.


AGE$5,000 with John Hancock$5,000 with AIG$10,000 with John Hancock$10,000 with AIG


AGE$5,000 with John Hancock$5,000 with AIG$10,000 with John Hancock$10,000 with AIG

In the end, if you are fond of John Hancock for some particular reason, great go with them.

However, if you want a much lower price from a reputable financially stable insurance company, there are many other insurance companies out there that fit the bill.


4) You Probably Don’t Need A Guaranteed Issue Plan

As a general rule, a guaranteed issue policy is only necessary as an absolute last resort.

Why do we say that?John Hancock Final Expense

For two main reasons. First, they cost more because the insurance company is taking on a high level of risk (remember they know nothing about your health).

Second, there is the two-year waiting period.

The truth is, the majority of people looking for final expense life insurance can apply with a carrier where they do answer some questions about their health and still qualify.

You wouldn’t need to take an exam, but you would be completing a health questionnaire.

This will benefit you in two HUGE ways.

  1. Your premiums will be lower. Because they are assessing health, they are taking on less risk. They know you don’t have certain health conditions.
  2. There’s no waiting period. Again, because they are assessing your health, they know you don’t have some imminent health issue that will likely cause death in the near future. For that reason, they’ll issue you a policy that fully covers you from the first day and has no waiting period.

We encourage you not to assume your health would preclude you from qualifying for a plan with underwriting.

Every single day at Choice Mutual, we help folks get immediate coverage when they were convinced it was impossible.

Call us an see. The worst we can say is no.

Honestly, we could tell you in less than 60 seconds if there is a burial insurance carrier out there that will approve you for a no waiting period plan.

Our toll free number is 800-644-2926.


5) They Are Counting On Healthy Folks For Them To Make A Profit

Companies like John Hancock that market guaranteed issue coverage directly to consumers are banking on healthy applicants off setting the unhealthy ones they’ll get.

It’s the only way they can make money with a product like this.

The really unfortunate part of their program is they are heavily penalizing healthy folks to pay for the non-healthy ones.

You’ve taken care of yourself your whole life and now they want to penalize you for it.

That’s not good form at all.

In our opinion, they are actually going a step further and hoping their good name will cause consumers to implicitly trust they are offering the best product possible.

Sadly, nothing could be further from the truth.

John Hancock Final Expense

If you’re in decent health, don’t throw your money away so they can make a profit.

Which is more important to you- your family or theirs?

Give your money to a company that offers you the same or better product for less. This is 100% possible.

Going to back to point number 4, you probably don’t need a guaranteed issue plan from ANY company let alone John Hancock.

And even if you do need or want a no health question policy, tons of other carriers will give it you for much less money each month.


Here Are All The Prices For Choose John Hancock Final Expense Insurance

Below you’ll see the quotes on $5000, $10000, $15000 and $20000 in coverage from John Hancock.

We took these rates directly from their website.

A quick note about their website; it will actually show you their rates. Granted, they make you type in a phone number and email, but they will show you the prices.

If you want to see some much lower final expense life insurance rates, run quotes on our website.

You’ll see quotes from multiple final expense companies pop in your state.







This Is How You Find The Best Final Expense Coverage

The first thing you need to understand about life insurance is that there is no one single insurer that is best for everyone. It’s impossible.

So to find the carrier that is best for you, you need to compare options from multiple companies.

This is true whether you are looking for coverage on you or an insurance policy on your parent.

John Hancock Final Expense

Then, and only then, can you find which one will offer you the best plan.

Before we tell you how to do that, it’s important you also understand another important fact.

If you buy final expense insurance directly from a carrier, it will always be guaranteed issue. Coverage that costs the least and covers you from day one is only sold through agencies.

For that reason, to gain access to the lowest premiums and first day coverage, you’ll need to work with an agent.

Here’s the kind of agent you’ll need…

To find the best end of life insurance, you at all costs must work with an independent agent who represents no less than 10 different insurance companies.

An independent agent if free to choose whichever one is best for you. They aren’t partial or captive to any single insurer. They are free to do what’s best for you.

For example, if you ever talk to a State Farm rep, they can only offer you coverage from State Farm. That’s a captive agent, and you should avoid them at all costs.

What if State Farm doesn’t look upon your health favorably? Well they can’t offer you anything else, so you’re stuck with a bad deal.

However, when dealing with an independent agent, they’ll simply recommend whichever final expense company that does look most favorably upon your health.

See the difference?

Again, find an independent agency that works with 10 or more insurance companies and let them go to work for you.


Why Choice Mutual

We are up front about our bias regarding why you should work with us, but it’s not without merit.

There isn’t a need to write a book about why we are the most qualified to help you find the best burial insurance policy for you. There are 3 simple reasons for it.

  1. We are independent. With over 20 different insurance companies to choose from, we’ll compare offers from each one and recommend the best plan for you. No other national final expense agency has as many carriers as us.
  2. Final expense insurance is all we do. We don’t sell any other kind of insurance because we believe in being masters in final expense. You can trust you’re getting truly expert advice when talking with our agents.
  3. We truly want what’s best for you. We could recommend certain carriers that make us more money (every agent can). However, we don’t that. We’ll always put your interest’s above our own.

A short phone call with one of our agents will take care of everything.John Hancock Final Expense

Oh and our services are free. The insurance companies pay us for bringing them customers which is why you don’t have to pay anything.

Even if you choose not to work with us for your final expense needs, make sure you choose an independent agency that has 10 or more companies to choose from.


John Hancock Company Background

Make no mistake, John Hancock is a very financially stable insurance company.

Nobody should ever question whether or not they’ll be able to meet their financial obligations in the future.

John Hancock Final Expense

Below are some of their ratings from some of the most well respect rating agencies.

  • M Best Company: A+
  • DBRS Limited: AA
  • Fitch Ratings Inc: AA-
  • Moody’s Investors Service Inc: A1
  • S&P Global Ratings: AA-

As you can see, their ratings are aces all around. John Hancock is a good company without question.

However, just because they are a good company does mean John Hancock guaranteed issue insurance is superior.

This product they have is far inferior to what you could get from other carriers.