John Hancock, Transamerica, and MetLife Life Insurance Companies: Review
Here is another comparison of some of the largest life insurance companies in the United States!
Source: https://www.johnhancockinsurance.com/
John Hancock
Total Revenue: $17.3 billion
Number of Employees: 6,650
Products: Term, universal, indexed universal, and variable universal life insurance
Headquarters: 601 Congress St., Boston, MA 02210, US.
John Hancock is rated the seventh on the list of the top 20 largest insurance companies in the United States. They are one of the only companies that has specialized life insurance policies and deals. The John Hancock Vitality Program offers benefits after choosing any life insurance policy with them, and their Vitality Go Program allows customers to enjoy Amazon discounts, REI discounts, 20-40% off discounts for wearable fitness devices, and instant savings on eligible foods at grocery stores. Their Vitality Plus program gives customers access to exclusive awards as well as the benefits of Vitality Go. John Hancock utilizes UVPs that set their company apart from others by offering incentives, and creating innovative ways to sell life insurance.
Source: https://www.transamerica.com/
Transamerica
Total Revenue: $14.9 billion
Number of Employees: 6,500
Products: Term, whole, and universal, and indexed universal life insurance
Headquarters: 6400 C St SW, Cedar Rapids, IA 52404
Transamerica is rated the ninth best life insurance company in the United States for the year 2021. They advertise themselves to expect the unexpected, which allows their customers to have faith in the company and their advice regarding financial matters. Their website includes basic articles including information about insurance and retirement, as well as leading healthy lives. They have 3 minute evaluations offered under their life insurance section that determines which plan is right for a certain customer, which is an interactive addition. Their Living Benefits Term Policy gives the customer the ability to receive cash benefits if you become ill with a chronic, critical or terminal illness during your policy years. This is different from most policies because not many term life policies have cash value.
Source: https://www.metlife.com/
MetLife
Total Revenue: $67.8 billion
Number of Employees: 46,500 worldwide
Products: Term life, group variable universal life, group universal life (life insurance offered through workplace plans only)
Headquarters: 200 Park Avenue, New York, NY 10166
MetLife’s is rated the tenth best life insurance company in the United States for the year 2021. life insurance plans are different from many other life insurance companies in that the life insurance policies are offered through workplace plans only. That being said, their website directly states to contact your employer before finding which plan is right for you, and suggests that clients talk to their company’s benefits administrator. They state that in the event you retire or leave the company you are working at, you may have the option of taking your coverage with you. This is not a guarantee. Overall, MetLife considers themselves a company who helps people live better and healthier lives. They show this through campaigning to eliminate tuberculosis and investing in houses and infrastructure of all sizes. Their motto is to create value for the world in an innovative way.
In conclusion…
These companies offer unique policies in comparison to many other companies includes in the top 20 best insurance companies. John Hancock offers policies which are unique to what they sell in order to promote healthier living. MetLife offers life insurance to employers and employees, versus individuals. Overall, each company has its own unique take within the insurance industry.
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