John Hancock vs Pacific Life

Verdict

John Hancock and Pacific Life compete for the same advisor-sold buyer: indexed and variable universal life, with no direct online purchase at either. Pacific Life ranked #8 by 2024 individual life premiums ($5.17 billion) and John Hancock #9 ($4.95 billion), according to NAIC data. The ownership differs: John Hancock is a wholly owned subsidiary of Manulife, a publicly traded Canadian insurer, while Pacific Life sits under Pacific Mutual Holding Company, controlled by policyholder members, with no public shareholders.

Ratings are close. John Hancock's profile lists AM Best A+ (Superior, January 2026), S&P AA-, Moody's Aa3 and Fitch AA. Pacific Life lists AM Best A+ (Superior, December 2025), S&P AA-, Moody's Aa3 and Fitch AA-. In the J.D. Power 2026 individual life study the two were two points apart and both below the 649 average: John Hancock 16th of 23 (632 points) and Pacific Life 17th (630).

The products differ in focus. John Hancock builds its identity on Vitality, a wellness program rewarding activity with premium savings in exchange for sharing data, plus LifeCare, a hybrid indexed UL with long-term care benefits and no exam, and Aspire for people with diabetes. Pacific Life's lineup is permanent-policy focused, with several IUL designs (including cash-value and survivorship versions), VUL, guaranteed UL with no-lapse guarantees to ages 90 to 121, and Pacific Elite Term with a $250,000 minimum. John Hancock's term examples run 10 to 30 years with no stated minimum in the profile. Pacific Life's S&P and Moody's reports flagged below-peer statutory profitability and above-industry holdings of lower-quality investment-grade bonds respectively.

Choose John Hancock if

• You want a wellness program built into the policy and accept sharing activity data for premium savings.
• You want a hybrid policy with long-term care benefits and an instant-decision application.
• You want smaller term coverage, since Pacific Elite Term starts at $250,000.
• You have diabetes and want the Aspire program.

Choose Pacific Life if

• You want a guaranteed universal life policy with a no-lapse guarantee to an age you pick.
• You want survivorship IUL or VUL for estate planning or an IUL designed for early cash value.
• You prefer a company without public shareholders.

Key differences

Before you decide

Ask both for illustrations at the same premium, and look at the guaranteed column and a conservative index assumption as well as the headline figure. Ask what charges and caps can change. See how to compare life insurance quotes fairly, IUL pros and cons: what the sales pitch leaves out and AM Best, S&P, Moody's and Fitch ratings explained.