We have maintained our competitive position in the market with new rates.

What’s Changing:

  • New rates to retain top-5 competitive position in our core market
    • There will be both premium increases and decreases
  • Pricing improvements of up to 18% to Female Rates
    • Impacts top 2 risk classes for ages 40-49 on 15-year term, and ages 40-69 on 20-year term
  • Reduced policy fee from $100 to $70 on face amounts of $1M and above
    • Results in same policy fees across all face amounts and higher commissionable premium
  • Improvements to the New Business process
    • On John Hancock Term policies, proprietary quotes/illustrations are not required – even for replacement cases
    • On John Hancock Term with Vitality policies, an illustration certification (NB1081US) can be used if an illustration is not presented to your client at the time of application


Don’t forget, the John Hancock Term portfolio continues to offer a competitive conversion option, and supplementary riders such as an Accelerated Benefit Rider, Unemployment Protection Rider, and Total Disability Waiver. And as always, look to add John Hancock’s Vitality Program to save on premiums and reward clients for a living a healthy life.


State approvals and illustration system

Please refer to the state approval map for most current state approvals. JHIllustrator will be updated as states are approved.


New business and underwriting information

Deadline Requirements
October 6, 2017 The current John Hancock Term (’17) or John Hancock Term with Vitality (’17) products will no longer be offered in states that have approved the new John Hancock Term (’17R) or John Hancock Term with Vitality (’17R) products. However, in order to provide a transition period in approved states, John Hancock Term (’17) and John Hancock Term with Vitality (’17) applications will be accepted though October 6, 2017.
October 27, 2017 All John Hancock Term (’17) and John Hancock Term with Vitality (’17) pending applications must complete the formal underwriting process and all administrative requirements to issue the policy must be received by John Hancock by October 27, 2017.

Should you already have an application in New Business and wish to have a Term (’17R) or Term with Vitality (’17R) policy underwritten, please contact your Case Manager. Coinciding with the launch of the Term and Term with Vitality products, new submissions received at our service office prior to October 6th that do not specify the Term or Term with Vitality product version applied for will be set up under the Term/Term with Vitality (’17R) product. Please contact your Case Manager to make any changes to the product selected on pending cases submitted during the transition period.



Reissues of John Hancock Term (’17) or John Hancock Term with Vitality (’17) policies to John Hancock Term (’17R) or Joh Hancock Term with Vitality (’17R) will be considered only on John Hancock Term (’17) or John Hancock Term with Vitality (’17) policies that are within the Free Look period. Subject to normal underwriting practices, policies may require additional evidence to ensure health status has not changed.


Inforce Cases

Term-to-Term replacements are not allowed within the first policy year. Any replacement of an inforce policy (after the first policy year) would require replacement forms, be subject to full underwriting, and possibly result in reduced compensation. Please not that the six month product exchange feature is not available on John Hancock Term products.


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GBS Insurance and Financial Services, Inc. is not affiliated with The Leaders Group, Inc. You may check the background of investment professionals on FINRA Broker Check

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