• Written By
    Jennifer Schell

    Jennifer Schell

    Financial Writer

    Jennifer Schell is a professional writer focused on demystifying annuities and other financial topics including banking, financial advising and insurance. She is proud to be a member of the National Association for Fixed Annuities (NAFA) as well as the National Association of Insurance and Financial Advisors (NAIFA).

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  • Edited By
    Savannah Pittle
    Savannah Pittle, senior financial editor for Annuity.org

    Savannah Pittle

    Senior Financial Editor

    Savannah Pittle is an accomplished writer, editor and content marketer. She joined Annuity.org as a financial editor in 2021 and uses her passion for educating readers on complex topics to guide visitors toward the path of financial literacy.

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  • Financially Reviewed By
    Thomas J. Brock, CFA®, CPA
    headshot of Thomas J. Brock, CFA, CPA

    Thomas J. Brock, CFA®, CPA

    Investment, Corporate Finance and Accounting Expert

    Thomas Brock, CFA®, CPA, is a financial professional with over 20 years of experience in investments, corporate finance and accounting. He currently oversees the investment operation for a $4 billion super-regional insurance carrier.

    Read More
  • Updated: July 2, 2023
  • 4 min read time
  • This page features 6 Cited Research Articles
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These reviewers are industry leaders and professional writers who regularly contribute to reputable publications such as the Wall Street Journal and The New York Times.

Our expert reviewers review our articles and recommend changes to ensure we are upholding our high standards for accuracy and professionalism.

Our expert reviewers hold advanced degrees and certifications and have years of experience with personal finances, retirement planning and investments.

Why Trust Annuity.org
Why You Can Trust Annuity.org
Annuity.org has provided reliable, accurate financial information to consumers since 2013. We adhere to ethical journalism practices, including presenting honest, unbiased information that follows Associated Press style guidelines and reporting facts from reliable, attributed sources. Our objective is to deliver the most comprehensive explanation of annuities and financial literacy topics using plain, straightforward language.

Our Partnerships, Vision and Goals

We pride ourselves on partnering with professionals like those from Senior Market Sales (SMS) — a market leader with over 30 years of experience in the insurance industry — who offer personalized retirement solutions for consumers across the country. Our relationships with partners including SMS and Insuractive, the company’s consumer-facing branch, allow us to facilitate the sale of annuities and other retirement-oriented financial products to consumers who are looking to purchase safe and reliable solutions to fill gaps in their retirement income. We are compensated when we produce legitimate inquiries, and that compensation helps make Annuity.org an even stronger resource for our audience. We may also, at times, sell lead data to partners in our network in order to best connect consumers to the information they request. Readers are in no way obligated to use our partners’ services to access the free resources on Annuity.org.

Annuity.org carefully selects partners who share a common goal of educating consumers and helping them select the most appropriate product for their unique financial and lifestyle goals. Our network of advisors will never recommend products that are not right for the consumer, nor will Annuity.org. Additionally, Annuity.org operates independently of its partners and has complete editorial control over the information we publish.

Our vision is to provide users with the highest quality information possible about their financial options and empower them to make informed decisions based on their unique needs.

About John Hancock Annuities

John Hancock Financial Services was founded in 1862 in Boston, Massachusetts. In its 160-year history, the company expanded beyond its initial offering of life insurance to a variety of products including mutual funds, 401(k) plans and annuities.

In 2003, John Hancock Financial Services was acquired by the Canadian-based Manulife Financial Corp. for $15 billion. The acquisition expanded Manulife to become the second-largest life insurer in North America.

John Hancock Annuities formerly sold a range of annuity products including immediate, fixed and variable annuities. The challenging economic conditions that followed the 2008 recession prompted the company to halt its annuity offerings in 2012, but customers may still hold the annuity products that they purchased before this time.

Did You Know?

If you own a legacy John Hancock annuity, you can contact the company’s customer service department by calling this number:

The fact that John Hancock Financial Services ceased issuing annuities is not a cause for concern for existing annuity contract owners. The firm is servicing its outstanding obligations and is well-position to continue doing so indefinitely.

Credit Ratings

Credit ratings, which are also called financial strength ratings, are issued by independent agencies. These agencies grade annuity providers on their financial stability, and the scores reflect how likely the provider is to be able to meet their current obligations.

The four major credit rating agencies are AM Best, Fitch Ratings, Moody’s and Standard & Poor’s. John Hancock has received strong credit ratings from all four of these organizations.

John Hancock Credit Ratings

Credit Agency Rating
AM Best A+
Fitch Ratings AA-
Moody’s A1
Standard & Poor’s AA-
Source: Manulife

John Hancock Annuities

Prior to withdrawing their annuity products in 2012, John Hancock sold three main types of annuities: immediate, fixed and variable annuities. If purchased prior to 2012, John Hancock Annuity customers may still hold legacy contracts.

Immediate Annuities

Immediate annuities differ from most other types of annuities in that they skip the accumulation phase, which is when the value of the annuity grows over time. As the name suggests, an immediate annuity converts a single premium into a stream of income payments immediately once the contract begins.

This type of annuity is best suited for those who want guaranteed income they can’t outlive. Immediate annuities are popularly used in conjunction with retirement accounts later in a person’s life.

Fixed Annuities

Fixed annuities also provide guaranteed lifetime income payments, but these payments are deferred to be paid after an accumulation period. During this period, the annuity earns interest based on a fixed rate that you agree to when you purchase the annuity.

For some fixed annuities, the interest rate is guaranteed for the entire term of the annuity contract. Products of this type are called multi-year guaranteed annuities (MYGAs). Other fixed annuities have an initial guaranteed period at the beginning of an annuity contract, after which the rate may be adjusted.

Variable Annuities

A variable annuity also grows in value over an accumulation period. The value of this type of annuity is tied to an investment portfolio, so it’s a great way to diversify your retirement investments.

Because the value of the annuity is linked to investment performance, there is some risk that the annuity could lose a bit of its value in tough market years. For this reason, variable annuities are best suited for somewhat younger customers who can withstand some market risk in exchange for potentially higher returns than a fixed annuity offers.

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Client Resources

Although they no longer directly sell annuities, John Hancock offers a wealth of online resources for existing annuity owners. The company’s Help Center features a Frequently Asked Questions section, as well as a step-by-step guide to filing an annuity claim and information on tax issues related to annuities.

John Hancock annuity customers can access a comprehensive collection of annuity forms online, including:

  • Annuitization
  • Change of Beneficiary
  • Defer Maturity Date
  • Electronic Fund Transfer (EFT)
  • Investment Option Change
  • Required Minimum Distribution Request

If you have an annuity with John Hancock, you can log into your account at:

John Hancock’s Annuity Login Page

About Annuity.org

Annuity.org has provided reliable, accurate and trustworthy financial information to readers since 2013. We partner with professionals like those from Senior Market Sales (SMS), a market leader with over 30 years of experience in the insurance industry, to offer personalized retirement solutions for consumers across the country.

Any information offered about the company above is provided free of charge and individual product offerings are verified and accurate as of publication.

Our partners work with the provider companies mentioned on our site. However, Annuity.org is not a service provider. Actual products, terms and rates offered through the above company are subject to in-state availability and a variety of other factors. Visit the Our Partners page for additional information.

Please seek the advice of a qualified professional before making financial decisions.
Last Modified: July 2, 2023