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John Hancock vs Transamerica
John Hancock has higher ratings and Vitality wellness; Transamerica, owned by Aegon, targets middle-income buyers with instant-decision IUL and final expense.
Verdict
John Hancock and Transamerica are each the U.S. arm of a foreign-listed parent, Manulife of Canada and Aegon, which is incorporated in Bermuda and plans to move its head office to the United States and rename itself Transamerica Inc. by 2028. John Hancock ranked #9 by 2024 individual life premiums ($4.95 billion) and Transamerica #10 ($4.73 billion), according to NAIC data, so they are almost the same size. Both sell through professionals; John Hancock through licensed financial professionals, and Transamerica mostly through World Financial Group (WFG) and other independent agents.
The clearest gap is financial strength and satisfaction. John Hancock's profile lists AM Best A+ (Superior, January 2026), S&P AA-, Moody's Aa3 (raised from A1 in September 2025) and Fitch AA. Transamerica lists AM Best A (Excellent, December 2025), S&P A+ and Moody's A1, with no Fitch rating. In the J.D. Power 2026 individual life study John Hancock ranked 16th of 23 (632 points) and Transamerica 20th (602).
Their target buyer differs. Transamerica focuses on middle-income families and offers instant-decision products: FE Express final expense up to $50,000 and FFIUL II Express indexed universal life for $50,000 to $500,000 at ages 18 to 70. John Hancock offers Vitality with every policy, the LifeCare hybrid with long-term care benefits and no exam, and Aspire for people with diabetes. Both have legacy issues: Transamerica faces universal life rate-increase litigation (two settlements awaiting approval as of March 2026) and reinsured part of its secondary-guarantee block in 2025; John Hancock reinsured legacy blocks including long-term care in 2024 and 2025.
Choose John Hancock if
- You want the higher financial strength ratings of the two.
- You want a wellness program built in, with premium savings in return for sharing activity data.
- You want a hybrid life and long-term care policy with an instant decision, or a program for diabetes.
- You want a larger variety of 10 to 30-year term examples with enhanced conversion choices announced in September 2026.
Choose Transamerica if
- You want final expense whole life or a small IUL decided instantly through a digital application.
- You are already working with a WFG agent.
- You want term with living benefit riders for critical or chronic illness.
- You are comfortable with A-range ratings for your price and underwriting needs.
Key differences
| John Hancock | Transamerica | |
|---|---|---|
| Parent | Manulife | Aegon Ltd. |
| 2024 individual life premiums | $4.95 billion (#9) | $4.73 billion (#10) |
| Main buyer | Advisor-sold, wellness-minded | Middle-income, WFG and agents |
| Instant-decision products | LifeCare (no exam) | FE Express, FFIUL II Express |
| AM Best | A+, January 2026 | A (Excellent), December 2025 |
| Moody's | Aa3 | A1 |
| J.D. Power 2026 | 16th of 23 (632) | 20th of 23 (602) |
Before you decide
Ask each agent which companies they can quote, since WFG and other agents may represent several, and compare the same coverage. Check conversion terms and rating dates. See how to compare life insurance quotes fairly, captive vs independent life insurance agents and AM Best, S&P, Moody's and Fitch ratings explained.
Side by side
| John Hancock | Transamerica | |
|---|---|---|
| Type | Shareholder-owned life insurers | Shareholder-owned life insurers |
| Customer service | 800-387-2747 | 800-797-2643 |
| Website | johnhancock.com | transamerica.com |
| NAIC group | John Hancock group (Manulife) | Aegon US Holding group |
| Headquarters | Boston, Massachusetts | Cedar Rapids, Iowa (main insurer); primary offices also in Baltimore, Denver and Philadelphia |
| Founded | 1862 | 1928 |
| Ownership | Wholly owned subsidiary of Manulife Financial Corporation (Toronto), a publicly traded company, since 2004 | Wholly owned by Aegon Ltd., a publicly traded insurer incorporated in Bermuda, through Transamerica Corporation; Aegon plans to move to the U.S. and rename itself Transamerica Inc. by 2028 |
| Parent company | Manulife Financial Corporation | Aegon Ltd. |
| Stock ticker | MFC (parent; NYSE and TSX) | AEG (parent; NYSE) |
| Where it sells life insurance | All states and Washington, D.C.; New York residents are served by John Hancock Life Insurance Company of New York | All 50 states, Washington, D.C., Puerto Rico, the U.S. Virgin Islands and Guam; New York policies are issued by Transamerica Financial Life Insurance Company |
| New York company | John Hancock Life Insurance Company of New York | Transamerica Financial Life Insurance Company |
| How it sells | Licensed financial professionals; quote requests on the website are routed to an insurance professional | World Financial Group (WFG) independent agents, the Transamerica Agency Network and other independent agents |
| U.S. individual life rank (2024) | 9 | 10 |
| Individual life premiums (2024) | $4.95 billion | $4.73 billion |
| U.S. market share (2024) | 3.17% | 3.03% |
| AM Best financial strength | A+ (Superior) | A (Excellent) |
| S&P | AA- (Very Strong) | A+ (Strong) |
| Moody's | Aa3 (Excellent) | A1 (Good) |
| Fitch | AA | — |
| J.D. Power | Ranked 16th of 23 brands (632 points; study average 649) in the J.D. Power 2026 U.S. Individual Life Insurance Study | Ranked 20th of 23 brands (602 points; study average 649) in the J.D. Power 2026 U.S. Individual Life Insurance Study, listed as Transamerica (AEGON) |
| Term lengths | Examples on John Hancock's site are 10, 15, 20 and 30 years; a three-option term suite with expanded conversion choices was announced in September 2026 | — |
| No-exam options | LifeCare hybrid policies need no paramedical exam or lab tests, and many applicants get an instant underwriting decision | FE Express final expense (up to $50,000) and FFIUL II Express indexed universal life ($50,000-$500,000, ages 18-70) give instant underwriting decisions through a digital application |
| Best suited to | Health-conscious buyers working with an advisor who want universal life with premium savings tied to the Vitality wellness program. | Middle-income families buying term, IUL or final expense coverage through an agent, especially a WFG agent, who want quick or instant underwriting. |
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Facts come from each insurer's profile, where every figure carries its source and review date. Premiums are personal: compare quotes for the same coverage, not just companies.
Last reviewed October 24, 2026