Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Apr 30, 2021

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The Facts of Life

  • John Hancock offers lower rates than Accordia Life
  • John Hancock is rated better than Accordia Life by A.M. Best
  • Both companies offer term life and permanent life insurance policies

Accordia Life and John Hancock offer various permanent and term life insurance policies. John Hancock has lower rates, better ratings, and fewer complaints. Comparing Accordia Life vs. John Hancock will help you determine the provider that best fits your needs.

For information on companies other than Accordia Life and John Hancock, enter your ZIP code to find the best life insurance quotes in your area.

Accordia Life vs. John Hancock: What are their monthly rates?

A common determining factor when choosing a life insurance provider is the monthly rates. Accordia Life insurance rates and John Hancock life insurance rates are lower than many of their competitors. The following charts will show the monthly rates for a 20-year term at $500,000 for men.

Accordia Life vs. John Hancock: Male 20-Year Term $500,000 Policy Monthly Rates by Age
AgeAccordia Life Average Monthly RatesJohn Hancock Average Monthly Rates
Age 30$27.15$27.71
Age 40$40.05$32.11
Age 50$105.47$74.56
Age 60$300.38$208.06
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The next chart shows the same information for women.

Accordia Life vs. John Hancock: Female 20-Year Term $500,000 Policy Monthly Rates by Age
AgeAccordia Life Average Monthly RatesJohn Hancock Average Monthly Rates
Age 30$24.48$25.06
Age 40$34.71$28.31
Age 50$76.99$64.51
Age 60$195.80$170.11
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As you can see, John Hancock offers lower rates for older customers, and female rates are lower than rates for males.

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Accordia Life vs. John Hancock: What are their ratings?

Credit rating agencies provide grades for various life insurance providers. These ratings assess the provider’s financial strength, determining the likelihood that they’ll be able to provide a payout when a claim is filed.

Accordia Life has been rated an “A” by A.M. Best and Fitch, an “A-” by S&P, and an “A3” by Moody’s. These ratings are all considered strong. While the ratings are relatively high, they inform customers that the company might have trouble providing a payout during difficult economic times.

John Hancock has been rated an “A+” by A.M. Best and Fitch, an “AA-” by S&P, and an “A1” by Moody’s. These ratings are slightly higher than Accordia Life but are enough to be considered superior by the rating agencies.

While John Hancock has received better ratings than Accordia Life, the ratings of both providers are strong enough that customers should not be concerned about receiving a payout when they file a claim.

Accordia Life vs. John Hancock: How many complaints do they have?

Examining the complaints about a life insurance company is a good way of determining the quality of service you’ll experience. The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) allow previous and current customers to list complaints about life insurance providers.

At the time of this comparison, the Better Business Bureau has received 44 complaints about Accordia Life and given it an “A” rating. The company has a complaint index of 3.67 by the NAIC, higher than the average index of 1.00.

The Better Business Bureau has received 24 complaints about John Hancock and given the company a “B” rating. The provider has a complaint index of 0.64, according to the NAIC. That’s less than the average number of complaints about a company of a similar size.

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

Accordia Life and John Hancock offer very similar policies. The differences are that Accordia Life offers whole life insurance and John Hancock offers variable universal life insurance. The two providers offer similar term life, universal life, and indexed universal life policies.

Accordia Life offers term life insurance in 10, 20, and 30-year terms. These policies start at $50,000, a lower minimum value than most of its competitors. This is a good option for those looking for lower rates or a lower amount of coverage.

The provider also offers three different types of permanent life coverage. Whole life has fixed premiums that won’t change, universal life has flexible premiums to adjust with your life changes, and indexed universal life has a cash value that is affected by popular stock indexes.

Similar to Accordia Life, John Hancock offers term life policies in 10, 15, 20, and 30-year terms. The value of these policies ranges from $25,000 to $3 million. That’s a lower minimum value and higher maximum value than most competitors.

While John Hancock doesn’t offer whole life insurance, it offers universal life, indexed universal life, and variable universal life coverage. Similar to indexed universal life, variable universal life insurance includes a cash value. However, this cash value can be invested in separate accounts, similar to a mutual fund.

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

Most life insurance providers offer optional coverage for customers that want more than a basic policy. Referred to as riders, these options are either automatically included with a policy or can be added for an additional premium. Accordia Life and John Hancock offer a variety of riders.

The accelerated death benefits rider allows policyholders with a critical, chronic, or terminal illness to access a portion of their death benefit before death. While John Hancock includes this rider free of charge with all policies, Accordia Life only includes it with universal life coverage.

Accordia Life also offers various optional riders that can be added to a policy. 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

Accordia Life and John Hancock offer more riders than most competitors, allowing customers to create a customized life insurance policy.

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

Accordia Life allows customers to apply for coverage online or by phone. This makes the process much easier than most competitors. John Hancock only allows online applications for term life policies. Those looking to purchase permanent coverage must contact a company representative by phone or email.

John Hancock has a mobile application called MyLifeNow. Customers can use their John Hancock 401k login to access policy information. While Accordia Life lacks a mobile app, both companies have mobile-friendly websites. Customers can use their Accordia Life or John Hancock login to access the website on mobile devices.

Accordia Life vs. John Hancock: History

The Accordia Life and Annuity Company was originally called Aviva USA and owned by Athene. In 2013, Global Atlantic purchased the company and renamed it Accordia Life. Since that time, Accordia Life has been the life insurance subsidiary of Global Atlantic.

The John Hancock Life Insurance Company was founded in Boston, MA in 1862. In 2004, the company was purchased by the Manulife Financial Corporation. Today, John Hancock is Manulife’s subsidiary for the United States, providing life insurance and John Hancock 401k accounts.

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Accordia Life vs. John Hancock: The Bottom Line

The choice between Accordia Life and John Hancock will depend on your personal preference. If ratings or monthly rates are your primary concern, John Hancock is the best option. Accordia Life is the right choice if you’re interested in indexed universal life insurance. Comparing Accordia Life vs. John Hancock will help you find the provider that fits your needs.

Finding affordable Accordia Life insurance quotes and affordable John Hancock life insurance quotes is possible.

Now that you’ve compared Accordia Life vs. John Hancock, enter your ZIP code to compare the best life insurance rates in your area.

Accordia Life vs. John Hancock: Frequently Asked Questions

Here are some frequently asked questions about Accordia Life and John Hancock.

#1 – Can I cancel my Accordia Life or John Hancock life insurance policy?

You can cancel an Accordia Life policy by calling the company and asking for a cancellation. To cancel a John Hancock policy, you must fill out a Policy Surrender Form and mail it to the company.

#2 – Can I change ownership of an Accordia Life or John Hancock policy?

To change the ownership of an Accordia Life or John Hancock policy, a change of ownership form must be filled out and mailed to the company. If the change is due to the death of the previous owner, John Hancock requires a copy of the death certificate.

#3 – Can I buy other types of insurance from Accordia Life and John Hancock?

Accordia Life customers can purchase various types of insurance through other Global Atlantic subsidiaries. John Hancock’s parent company, Manulife, also offers health, travel, and mortgage protection insurance.