Sara Routhier, Managing Editor of Features and Outreach, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming worl...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Mar 4, 2021

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It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider. Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.

The Brief

  • Accordia Life offers whole life insurance
  • John Hancock offers variable universal life and final expense insurance
  • Both are rated highly by the most trusted life insurance rating agencies

Accordia Life and John Hancock provide life insurance to customers throughout the United States. They are both rated highly by various life insurance rating agencies and offer similar policies.

There are limited differences when comparing Accordia Life vs. John Hancock so it’s important to consider all aspects. Both providers offer a wide range of policies, but there are some differences.

Accordia Life offers whole life and John Hancock offers a variable universal life policy. If you’re looking for one of these two types of policies, this could be a differentiating factor.

If you’re ready to buy life insurance, enter your ZIP code above to find the best life insurance quotes in your area.

Accordia Life vs. John Hancock: How do their ratings compare?

John Hancock Life Insurance is rated higher than Accordia Life by four of the five grading systems. However, both providers are graded highly by all of the top rating agencies.

This means that both providers are financially capable of providing a payout whenever a claim is filed.

Accordia Life was given an “A” by A.M. Best, Fitch, and the Better Business Bureau. While not the top grade, these are all considered “strong” by the rating agencies. Moody’s gave Accordia Life an “A3” and S&P gave them an “A-,” both strong ratings but not at the top of the scale.

John Hancock has fared better, receiving an “A+” from A.M. Best and Fitch. Moody’s gave the provider an “A1” and S&P gave them an “AA-.”

The only rating agency that gave John Hancock a lower rating than Accordia Life was the Better Business Bureau, which gave the long-standing company a “B.”

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Accordia Life vs. John Hancock: Are there any complaints?

The Better Business Bureau reviews various life insurance companies and has reviewed both Accordia Life and John Hancock.

Customers can file complaints with the organization, which are then listed on the website. Reading through the complaints is a good way to determine the quality of service you’ll receive as a customer.

At the time of this comparison, Accordia Life has received a total of 46 complaints over the past three years. These complaints include 24 about their products and services, 21 about their billing and collections, and one about their advertising and sales.

John Hancock has received 23 complaints during that same three-year period. These complaints include 17 regarding their products and services, five regarding their billing and collections, and one listed under delivery.

While the number of complaints might appear high, it’s important to read each one to determine whether or not the specific grievances should impact your decision.

Accordia Life vs. John Hancock: What policies are offered?

The policies offered by life insurance providers are a major determining factor. Both companies offer term life and permanent life insurance, though the specifics of their policies differ.

The primary difference is that Accordia Life offers whole life insurance while John Hancock offers variable universal life and final expense insurance.

Accordia Life insurance has term life policies that are available in 10, 15, 20, 25, and 30-year terms. The company features a minimum coverage of $50,000, less than most life insurance providers. This is beneficial for those looking for little coverage or lower rates.

The provider’s permanent life options include whole life, universal life, and indexed universal life coverage. The main difference between these types of insurance is the flexibility of premiums.

Whole life insurance has a fixed premium, universal life features a flexible premium, and indexed universal life comes with a cash value that can earn interest.

Similar to Accordia Life, John Hancock offers term life insurance in 10, 15, 20, and 30-year terms. The coverage can range anywhere from $25,000 to $3 million, one of the widest ranges of term life coverage in the industry. These policies can also be converted to permanent coverage at a later date.

In terms of permanent life insurance, John Hancock offers universal life, indexed universal life, and variable universal life. Their permanent policies range from $50,000 to $65 million. The cash value of variable universal life insurance can be invested in a separate account, similar to a mutual fund.

John Hancock also offers final expense insurance, designed to help with end-of-life expenses. This option is available for customers between 55 and 80 years of age and ranges from $2,000 to $20,000.

Final expense insurance is the only type of insurance that has guaranteed approval and doesn’t require medical questions or an exam.

If you receive a John Hancock 401k through your employer, you have the unique option to buy life insurance within that plan.

Accordia Life vs. John Hancock: What riders are offered?

An affordable life insurance policy probably won’t cover everything you desire. Understanding this situation, life insurance providers create riders, or options, that can be added to policies for further coverage. Some of these are automatically included while others can be added on for an additional premium.

The accelerated death benefit rider is commonly included by life insurance companies. This allows customers with a terminal illness to access the money in their policy before death.

While John Hancock includes this benefit with every policy, Accordia Life only includes it with its universal life policies.

In addition to the accelerated death benefit, various optional riders can be added for an additional premium. Optional riders offered by Accordia Life include:

  • Primary insured
  • Additional insured
  • Guaranteed purchase options
  • Children’s insurance
  • Accidental death benefit
  • Waiver of monthly deduction
  • Waiver of a specified premium

Optional riders offered by John Hancock include:

  • Accelerated benefit
  • Critical illness benefit
  • Disability payment of a specified premium
  • Long-term care
  • Vitality PLUS program
  • Return of a premium

These are generally available for an additional premium.

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Accordia Life vs. John Hancock: How do you apply?

Accordia Life allows you to apply and receive approval for coverage for any policy online or by phone. John Hancock only allows those looking for term life policies to apply online. For permanent life policies, customers must call or email the company directly.

While Accordia Life doesn’t have a mobile app, the MyLifeNow mobile app allows customers to use their John Hancock 401k login to access information about their retirement and life insurance policies.

Both companies also feature a mobile-friendly website. This allows customers to use their Accordia Life or John Hancock login to make policy changes or payments on the go.

Accordia Life vs. John Hancock: History

Accordia Life and Annuity Company is a relatively young provider. Originally named Aviva USA, it became Accordia Life when the company was acquired by Global Atlantic in 2013.

Today, Accordia Life is the life insurance subsidiary of Global Atlantic.

The John Hancock Life Insurance Company was founded in Boston in 1862 and has been providing life insurance and retirement planning ever since.

Today, John Hancock is one of the largest life insurance companies in the United States, serving all 50 states.

Accordia Life vs. John Hancock: The Bottom Line

For most people, the differentiating factor when comparing Accordia Life vs. John Hancock is the type of insurance they desire.

Those wanting whole life insurance will choose Accordia Life, while those wanting variable universal life or final expense insurance will choose John Hancock.

Ready to buy a life insurance policy? Enter your ZIP code to compare the best life insurance rates in your area.

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Frequently Asked Questions

You still might have some questions about life insurance. Here are the answers to some frequently asked questions.

#1 – How much life insurance do I need?

The amount of life insurance you should buy depends on various factors, such as your income, your number of dependents, and your final expenses.

#2 – What does it mean when a company advertises “no physical exam?”

The lack of a physical exam requirement can make it easier to obtain coverage but it might be more expensive. Even if there is no physical exam, the provider will probably ask health questions on the application.

#3 – What is cash value?

Cash value earns interest and might be available for withdrawal in case of an emergency. The amount you can withdraw is usually your policy basis, premiums you’ve paid into the policy.