Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance. Not only does he strive to provide you with the ...

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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: Aug 6, 2021

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Facts You Should Know

  • John Hancock has lower rates than Transamerica
  • John Hancock is rated better than Transamerica by A.M. Best
  • Transamerica has more coverage options than John Hancock

John Hancock and Transamerica offer term life and permanent life insurance quotes. John Hancock has lower rates and better A.M. Best ratings, but Transamerica provides more coverage options. Comparing John Hancock vs. Transamerica will allow you to determine the best fit.

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

John Hancock vs. Transamerica: What are their monthly rates?

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

John Hancock vs. Transamerica: 20-Year Term $250,000 Policy Monthly Rates by Age for Males
AgeJohn Hancock Average Monthly RatesTransamerica Average Monthly Rates
30$14.21$15.48
40$16.86$22.79
50$31.54$44.29
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The following chart shows the same information for females.

John Hancock vs. Transamerica: 20-Year Term $250,000 Policy Monthly Rates by Age for Females
AgeJohn Hancock Average Monthly RatesTransamerica Average Monthly Rates
30$12.39$12.04
40$15.64$18.92
50$28.26$35.69
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As you can see, John Hancock has lower rates than Transamerica, and rates are lower for females than for males.

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John Hancock vs. Transamerica: What policies are available?

A close comparison of John Hancock vs. Transamerica life insurance company policies allows customers to determine which provider offers the best coverage. While both companies have term life, universal life, and final expense insurance, only Transamerica offers whole life plans.

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

The permanent life options offered by John Hancock are limited to universal life insurance. However, the company offers three types of universal life coverage: traditional universal life, indexed universal life, and variable universal life.

While traditional universal life features flexible rates, the other two policies include a cash value. The cash value of an indexed universal life policy depends on popular stock indexes, and customers can invest the cash value of a variable universal life plan into a separate account.

John Hancock also offers final expense insurance, available to customers between the ages of 55 and 80. Intended to pay for final expenses, such as funeral and burial costs, the value of this type of plan ranges from $2,000 to $20,000.

Transamerica offers two term life insurance plans. The Trendsetter Super Series provides coverage from $25,000 to $10 million, and the Trendsetter LB (Living Benefits) plan ranges from $25,000 to $2 million. While the two policies are similar, the Trendsetter LB plan offers more living benefits.

Both of these plans are available in 10-, 15-, 20-, 25-, and 30-year terms. Eligibility is limited to customers between the ages of 18 and 80.

Transamerica offers two types of permanent life insurance. The plans are available for customers up to 85 years old, and coverage ranges from $25,000 to $2 million. The difference is that whole life insurance features fixed rates and universal life insurance features flexible rates.

Transamerica also offers final expense insurance. This coverage is available between $1,000 and $50,000 to pay for funerals, burials, and other final costs.

The Transamerica long-term care insurance plan is a unique offering by the company. Available for customers between the ages of 19 and 79, the purpose of this plan is to protect you from the high costs of long-term care services.

John Hancock vs. Transamerica: What riders are offered?

Customers can add a variety of options to John Hancock and Transamerica policies. These options are known as riders and will usually increase your John Hancock or Transamerica life insurance quotes.

Both companies include an accelerated death benefits rider with their permanent life policies. This rider allows customers to access a portion of their death benefit before death if they suffer from a terminal illness.

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 Transamerica include:

  • Waiver of a premium
  • Accident indemnity
  • Children’s insurance

As you can see, John Hancock offers more ways to customize a policy than Transamerica.

John Hancock vs. Transamerica: What are their financial ratings?

Credit rating agencies examine life insurance companies and rate them based on financial strength. A better grade shows that the company is more likely to provide a payout when you file a claim. Trusted agencies have completed John Hancock and Transamerica life insurance reviews.

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 indicate that the company will provide a payout when customers file a claim.

Transamerica has been rated an A by A.M. Best, an A1 by Moody’s, and an A+ by S&P. These are solid ratings and show that Transamerica will usually provide a payout when you file a claim.

Moody’s has determined that Transamerica is the financially stronger of the two, but A.M. Best and S&P have provided better grades to John Hancock. However, all three grades given to both companies indicate superior financial strength.

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John Hancock vs. Transamerica: Have they received any complaints?

The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) review complaints made about life insurance companies. Fewer complaints indicate greater customer satisfaction.

At the time of this comparison, the BBB has received 64 complaints about John Hancock Life Insurance during the past three years. The company’s NAIC complaint index ratio is 1.54, indicating more complaints than the average similarly sized competitor.

The BBB has received 339 complaints about Transamerica over the past three years. According to the NAIC, Transamerica has a complaint rating of 1.30, indicating more complaints than competitors of a similar size.

While Transamerica has received more complaints than John Hancock, the complaint index ratios show that Transamerica has greater customer satisfaction.

John Hancock vs. Transamerica: The Bottom Line

Customers looking to buy John Hancock or Transamerica life insurance might wonder which company is better. While John Hancock has lower rates and better financial ratings, Transamerica has more policy options.

Comparing John Hancock vs. Transamerica will help you make the right decision.

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