How to Cancel John Hancock Life Insurance in 3 Easy Steps
If you need to know how to cancel John Hancock life insurance, know that John Hancock has a 10-day free look period. During this time, the insured can cancel their policy without an issue. However, if you cancel your policy after a month, you may be subject to penalties. If you have a whole life policy, you could face a further charge for canceling early.
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Sara Routhier
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Sara Routhier, Managing Editor and Outreach Director, 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 world o...
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UPDATED: Mar 14, 2023
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.
UPDATED: Mar 14, 2023
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.
On This Page
- John Hancock has a 10-day free look period in which a policy can be cancelled with a full refund
- After the first 10 days, the insured will have to fill out a surrender request form
- The insured may be subject to a surrender charge
If you have a policy with John Hancock and need to make a change, don’t worry. We’re going to tell you how to cancel John Hancock life insurance in three easy steps.
We’ll tell you all about the company’s cancellation policy, some replacement options, and contact methods.
Before you learn how to cancel John Hancock life insurance company coverage, type your ZIP code into our free and helpful tool above to find affordable life insurance quotes in your area.
What is John Hancock’s cancellation policy?
Like most life insurance companies, John Hancock has a 10-day free look period. This means that you have those first few days to cancel your policy and get a full refund of the premiums you have paid.
What happens if you cancel after the free look period? You will need to submit a surrender request form. This can be found on the company’s website, but you’ll need to fill in your John Hancock Insurance login information.
Once the form is submitted, John Hancock will pay out the policy value with the exception of any outstanding policy debt. Furthermore, there may be a surrender charge.
According to the Insurance Information Institute, this is a fee for withdrawing from the policy earlier than the timeframe established.
The amount of the surrender charge varies by state. Further information on the exact amount can be found in your policy contract.
The fees are especially applicable to whole life insurance policies, which accrue cash value over time. This type of policy may be cancelled, but there will be a surrender fee.
Let’s move on to the second step: comparison shopping.
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How to Cancel John Hancock Life Insurance: Finding a Replacement
Now that we’ve covered the first step — knowing what you’re in for in terms of possible fees — let’s go over step two: finding a replacement.
Below you’ll find a table that compares the average annual life insurance rates for non-smokers from 10 of the biggest life insurance companies on the market.
| Marital Status, Age & Gender | New York Life | Prudential | Lincoln National | Massachusetts Mutual | Aegon/ Transamerica | John Hancock | State Farm | Average |
|---|---|---|---|---|---|---|---|---|
| Single 25-Year-Old Female | $158.00 | $195.00 | $187.00 | $132.00 | $164.00 | $172.50 | $143.00 | $164.50 |
| Single 25-Year-Old Male | $152.00 | $237.00 | $231.00 | $147.00 | $176.00 | $178.30 | $164.00 | $183.61 |
| Married 35-Year-Old Female | $164.00 | $196.00 | $191.00 | $137.00 | $161.00 | $178.30 | $166.00 | $170.47 |
| Married 35-Year-Old Male | $160.00 | $248.00 | $238.00 | $151.00 | $171.00 | $189.80 | $175.00 | $190.40 |
| Married 45-Year-Old Female | $262.00 | $314.00 | $239.00 | $209.00 | $229.00 | $241.50 | $238.00 | $247.50 |
| Married 45-Year-Old Male | $245.00 | $378.00 | $283.00 | $230.00 | $255.00 | $292.10 | $239.00 | $274.59 |
| Married 55-Year-Old Female | $414.00 | $496.00 | $435.00 | $373.00 | $453.00 | $407.10 | $341.00 | $417.01 |
| Married 55-Year-Old Male | $696.00 | $584.00 | $615.00 | $451.00 | $527.00 | $533.60 | $396.00 | $543.23 |
| Single 65-Year-Old Female | $924.00 | $941.00 | $903.00 | $763.00 | $1,139.00 | $937.30 | $684.00 | $898.76 |
| Single 65-Year-Old Male | $1,416.00 | $1,412.00 | $1,577.00 | $1,049.00 | $1,367.00 | $1,380.00 | $955.00 | $1,308.00 |
As you can see, John Hancock is very close when it comes to most of its competitors. State Farm and MassMutual, however, are consistently cheaper. In short, there are options that may better suit your needs and budget.
Contact Options to Cancel John Hancock Life Insurance
Now, how do you cancel John Hancock life insurance?
The John Hancock Insurance phone number is (800) 732-5543. This line is available Monday through Friday, 8 A.M. to 6 P.M. ET.
A live chat service is also available when logging into the John Hancock digital storefront or calling in via SMS text.
Now that you know how to cancel John Hancock life insurance, type your ZIP code into our free and helpful tool below to find affordable life insurance companies near you.
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Sara Routhier
Sr. Director of Content
Sara Routhier, Managing Editor and Outreach Director, 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 world o...
Sr. Director of Content
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.