John Hancock vs. SBLI: Top Life Insurance in 2024
When looking at John Hancock vs. SBLI life insurance rates, you’ll find that SBLI is cheaper for younger and older policyholders, but John Hancock rates are lower for customers in their 30s, 40s, and 50s. While both companies offer term and permanent life insurance, John Hancock has universal life policies, and SBLI has whole life policies. Comparing John Hancock vs. SBLI will help you determine the right fit for your needs.
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Leslie Kasperowicz
Farmers CSR for 4 Years
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...
Farmers CSR for 4 Years
UPDATED: Mar 24, 2024
It’s all about you. We want to help you make the right life insurance 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 insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance 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 24, 2024
It’s all about you. We want to help you make the right life insurance 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 insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance 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
- SBLI has lower rates than John Hancock for younger and older customers
- John Hancock has lower rates than SBLI for customers in their 30s, 40s, and 50s
- John Hancock has universal life insurance, and SBLI has whole life insurance
John Hancock and SBLI offer term life and permanent life insurance policies to customers. While both companies offer term life plans, John Hancock has universal life insurance, and SBLI has whole life options. Comparing John Hancock vs. SBLI life insurance (read our “SBLI Life Insurance Review” for more information) policies will help you determine the best option.
Before starting this John Hancock vs. SBLI comparison, enter your ZIP code above to compare life insurance companies in your area for free.
John Hancock vs. SBLI: How much are life insurance rates?
Comparing affordable John Hancock vs. SBLI life insurance rates will help you find the cheapest option. The following chart shows the average monthly John Hancock and SBLI rates for a 20-year term at $500,000 based on age:
John Hancock vs. SBLI: 20-Year Term $500,000 Policy Monthly Rates by Age
| Age | John Hancock Average Monthly Rates | SBLI Average Monthly Rates |
|---|---|---|
| 20 | $27.66 | $25.34 |
| 30 | $28.61 | $29.19 |
| 40 | $53.61 | $60.76 |
| 50 | $127.81 | $168.58 |
| 60 | $459.16 | $310.28 |
As you can see, SBLI has lower rates for younger and older customers, and John Hancock has lower rates for middle-aged customers.
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John Hancock vs. SBLI: What policies are available?
John Hancock and SBLI offer term life, permanent life, and final expense insurance to customers. The primary difference is the type of permanent life options. John Hancock offers universal life insurance, and SBLI provides whole life coverage.
John Hancock offers term life insurance in 10, 15, 20, and 30-year terms. These policies feature a death benefit ranging from $25,000 to $3 million, and the age requirement depends on the policy chosen.
The company has three universal life options. While traditional universal life has flexible rates, indexed and variable universal life policies feature a cash value.
The indexed universal cash value depends on popular stock indexes, and a variable universal cash value can be invested in separate accounts.
John Hancock offers final expense insurance, designed to help pay for funeral and burial expenses. These policies are for customers between 55 and 80 years old and range from $2,000 to $20,000. Final expense plans feature guaranteed acceptance, so no medical exam is required.
SBLI term life insurance is available in 10, 15, 20, 25, and 30-year terms. These policies are for customers between 18 and 74 years old, and coverage ranges from $100,000 to $5 million. While the maximum purchasing age is 74, the plans feature guaranteed renewal until 95 years of age.
SBLI offers whole life insurance to customers up to 80 years old. This type of permanent life insurance features level rates and coverage ranges from $25,000 to $30 million.
SBLI also offers final expense insurance for customers between the ages of 50 and 80 years of age. Designed to pay for funeral and burial costs, the value of this coverage ranges from $2,000 to $35,000.
Read More:
- Top Life Insurance Company That Offers 20-Year Terms
- Top Life Insurance Companies That Offer 30-Year Terms
John Hancock vs. SBLI: What riders are available?
Customers can add options to a life insurance policy. These options are called riders and allow for the customization of a plan to meet a customer’s needs. John Hancock and SBLI offer various riders that you can add for an additional fee.
The accelerated death benefits rider allows customers to access a portion of their policy before death if they suffer from a terminal illness. John Hancock and SBLI automatically include this rider free of charge with their permanent life insurance plans.
Optional riders offered by John Hancock Insurance include:
- Critical illness benefit
- Disability payment of a specified premium
- Long-term care
- Vitality PLUS program
- Return of a premium
Optional riders offered by SBLI include:
- Accidental death benefit
- Children level term
- Guaranteed purchase option
- Single-pay paid-up additions
- Cash-out term
- Waiver of a premium benefit
As you can see, John Hancock and SBLI offer enough riders for customers to create a customized plan. Adding these riders will increase your John Hancock or SBLI life insurance quotes.
John Hancock vs. SBLI: What are their financial ratings?
Credit rating agencies regularly review and rate life insurance companies based on financial strength. These financial ratings determine the likelihood that the company will provide a payout when you file a claim.
The John Hancock Insurance Agency has been rated an A+ by A.M. Best, an A2 by Moody’s, and an AA by S&P. These are excellent ratings and determine that customers can expect a payout whenever they file a claim with the company.
SBLI has been rated an A by A.M. Best and S&P but has not been rated by Moody’s. These ratings show that SBLI will provide a payout in most situations.
While John Hancock has better ratings than SBLI, both companies are considered financially strong and can provide payouts when customers file claims.
Read more:
- John Hancock vs. Lincoln: Top Life Insurance
- John Hancock vs. MassMutual: Top Life Insurance
- John Hancock vs. Mutual of Omaha: Top Life Insurance
- John Hancock vs. Nassau Life: Top Life Insurance
- John Hancock vs. Nationwide: Top Life Insurance
- John Hancock vs. Principal: Top Life Insurance
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John Hancock vs. SBLI: Do they have any complaints?
The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) examine complaints made about insurance companies. Looking at John Hancock vs. SBLI life insurance company complaints will help you determine their quality of service.
At the time of this review, the BBB has received 64 complaints about the John Hancock Life Insurance Company over the past three years. The NAIC has given the company a complaint index ratio of 1.54, indicating more complaints than companies of a similar size.
The BBB has received 12 complaints about SBLI during the past three years. According to the NAIC, the company’s complaint index ratio is 0.22, indicating far fewer complaints than similarly-sized competitors.
These John Hancock and SBLI insurance reviews show that SBLI customers are more satisfied with their experience than John Hancock customers.
John Hancock vs. SBLI: How can you buy a life insurance policy?
How you can buy John Hancock vs. SBLI life insurance depends on the policy. John Hancock and SBLI only allow online applications for term life policies. You can purchase permanent life or final expense coverage by calling or emailing the company to speak with an agent.
The choice between John Hancock and SBLI depends on your age and coverage needs. SBLI life insurance is cheaper for younger and older customers, but John Hancock has lower rates for middle-aged customers. Comparing John Hancock vs. SBLI will help you find the right company.
Now that you’ve compared John Hancock vs. SBLI life insurance, enter your ZIP code below to get free life insurance quotes from companies in your area.
Your one-stop online guide for life insurance quotes. Get free quotes now!
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Leslie Kasperowicz
Farmers CSR for 4 Years
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...
Farmers CSR for 4 Years
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.