Effective January 28, 2021, John Hancock will be temporarily raising their minimum face amount for term insurance to $750,000.
As a result, we will be temporarily modifying our LifePipe quoting and iGo e-App to reflect the change in minimum face amount.
Volumes are up sharply and, when paired with the iterative interruptions and delays caused by John Hancock’s recent conversion to a new application processing platform, many have experienced processing times that are not on par with normal John Hancock service levels.
This temporary raise was enacted in order to accelerate a return to service levels that are consistent with John Hancock’s commitment to you.
As digital integrations progress, and John Hancock is able to support business with the high level of service you have come to expect from them, they will reevaluate and adjust term limits accordingly.
If you have any questions about this temporary change, please reach out to your Life Insurance Representative.