John Hancock vs. Securian Financial: Top Life Insurance in 2024

John Hancock and Securian Financial provide permanent and term life insurance quotes to various customers. While John Hancock has lower rates, Securian Financial has more coverage options. Comparing John Hancock vs. Securian Financial will help you make the right decision.

Before starting this John Hancock vs. Securian Financial comparison, enter your ZIP code to get free life insurance quotes in your area.

John Hancock vs. Securian Financial: Which company has better rates?

Comparing affordable John Hancock vs. Securian Financial life insurance rates will help you find the most cost-effective option. The following charts show the average John Hancock and Securian Financial monthly rates for a 20-year term at $250,000 based on gender and age.

John Hancock vs. Securian Financial: 20-Year Term $250,000 Policy Monthly Rates by Age for Males

The following chart shows the same information for females.

John Hancock vs. Securian Financial: 20-Year Term $250,000 Policy Monthly Rates by Age for Females

As you can see, John Hancock is cheaper than Securian Financial, and rates are lower for females than for males.

John Hancock vs. Securian Financial: Which company has more coverage options?

Examining John Hancock vs. Securian Financial life insurance company policies will help you determine the best fit. While both companies offer term life, universal life, and final expense insurance, Securian Financial has more options.

The John Hancock Insurance Agency offers term life insurance in 10, 15, 20, and 30-year terms. The value of these policies ranges from $25,000 to $3 million for most customers.

While John Hancock doesn’t offer whole life insurance, it provides three types of universal life insurance. Customers looking for a permanent life policy can choose between traditional universal life, indexed universal life, and variable universal life insurance.

While traditional universal life policies feature flexible rates, indexed universal life, and variable universal life insurance feature a cash value. Indexed universal life rates are influenced by popular stock indexes and variable universal life policies can be invested in separate accounts.

In addition to these policies, John Hancock offers final expense insurance to customers between the ages of 55 and 80. Designed specifically for final expenses, this policy ranges from $2,000 to $20,000. Acceptance is guaranteed, meaning there isn’t a medical exam requirement.

Securian Financial offers two types of term life insurance. Both plans are available in 10-, 15-, 20-, and 30-year terms. The Advantage Elite Select plan can be converted into a permanent policy while the Convertible Annual Renewal Term (CART) plan features an annual renewal for up to 10 years.

The Eclipse Accumulator and Eclipse Protector II plans are indexed universal life insurance policies. Available for customers up to 80, the minimum amount of coverage depends on age. Customers 17 years and younger have a minimum of $50,000 and adults have a minimum of $100,000.

The company also has two variable universal life options, with the primary difference being the maximum age. Both policies feature a minimum amount of $100,000. However, the defender plan is available up to 75 years of age, and the premier plan is available up to 85 years.

The Eclipse Survivor II plan is a survivorship policy, designed for couples. This type of policy covers two policyholders and pays to the surviving person. Customers can obtain coverage between the ages of 20 and 85 years and the minimum value is $200,000.

John Hancock vs. Securian Financial: What riders are available?

Life insurance companies offer options that can be added to a policy. These options are called riders and allow customers to customize their life insurance plans. Considering the available riders will help determine whether you should buy John Hancock or Securian Financial life insurance.

The most common type of rider is the accelerated death benefit. This option allows policyholders to access a portion of their death benefit before death if they suffer from a terminal illness. John Hancock and Securian Financial include this rider with their universal life coverages.

In addition to the accelerated death benefit rider, both companies offer a number of other options. Optional riders offered by John Hancock include:

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

Optional riders offered by Securian Financial include:

• Child term agreement
• Early values agreement
• Guaranteed insurability option
• Surrender value enhancement
• Term insurance
• Waiver of a premium
• Waiver of charges

Securian Financial offers more riders than John Hancock, but both companies offer more riders than many competitors.

John Hancock vs. Securian Financial: What are their financial ratings?

Credit rating agencies review and rate life insurance companies based on financial strength. These financial ratings determine the likelihood that a company will provide a payout when you file a claim.

John Hancock Insurance has been rated an A+ by A.M. Best, an A2 by Moody’s, and an AA by S&P. These are solid ratings and determine that the company will usually provide a payout when customers file a claim.

Securian Financial has been rated an A+ by A.M. Best, an Aa3 by Moody’s, and an AA by S&P. These ratings are among the best in the industry, indicating superior financial strength.

While John Hancock and Securian Financial have been rated the same by A.M. Best and S&P, Securian Financial’s Moody’s rating is higher than John Hancock. However, customers of both companies should be confident they’ll receive a payout when they file a claim.

John Hancock vs. Securian Financial: Do they have any complaints?

The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) review complaints made about life insurance companies. The organizations have completed John Hancock and Securian Financial reviews.

At the time of this comparison, the BBB has received 64 complaints about John Hancock Life Insurance over the past three years. The company’s complaint index ratio of 1.54 from the NAIC indicates more complaints than competitors of a similar size.

The BBB has received 36 complaints about Securian Financial Life Insurance over the past three years. According to the NAIC, the company has a complaint index ratio of 0.16, indicating far fewer complaints than similarly-sized competitors.

John Hancock vs. Securian Financial: The Bottom Line

Customers looking at John Hancock or Securian Financial life insurance quotes might wonder which company is best.

John Hancock has lower monthly rates, but Securian Financial has more coverage options. Comparing John Hancock vs. Securian Financial will help you find the best option.

Now that you’ve compared John Hancock vs. Securian Financial, enter your ZIP code to find free life insurance rates in your area.