John Hancock Life Insurance Company (U.S.A.) vs Lincoln Financial (The Lincoln National Life Insurance Company)
Comprehensive side-by-side comparison of indexed universal life insurance companies
John Hancock Life Insurance Company (U.S.A.)
Founded: 1862
Boston, Massachusetts
Assets
Part of Manulife with CA$1.4 trillion AUM
IUL Experience
15+ years
Products
4
Avg Cap Rate
8.00%
Key Strengths
160+ years in business
Comdex rating of 93 (among highest)
John Hancock Vitality Program (wellness-based rewards unique to industry)
Survivorship UL gold standard for estate planning
Strong with high-risk medical conditions
Lincoln Financial (The Lincoln National Life Insurance Company)
Founded: 1905
Radnor, Pennsylvania
Assets
$321 billion in end-of-period account balances
IUL Experience
20+ years
Products
6
Avg Cap Rate
10.00%
Key Strengths
NEW Elite Indexed Universal Life Portfolio (2025)
New Multiplier Riders for enhanced performance
Dual IUL designs for different optimization approaches
120-year-old company
Serves 17 million customers
Detailed Feature Comparison
| Feature | John Hancock Life Insurance Company (U.S.A.) | Lincoln Financial (The Lincoln National Life Insurance Company) |
|---|---|---|
| Founded | 1862 | 1905 |
| Headquarters | Boston, Massachusetts | Radnor, Pennsylvania |
| Assets Under Management | Part of Manulife with CA$1.4 trillion AUM | $321 billion in end-of-period account balances |
| Years in IUL Business | 15+ years | 20+ years |
| Number of IUL Products | 4 | 6 |
| Typical Cap Rate Range | 7.50% - 9.00% | 9.50% - 10.50% |
| Participation Rates | 110% | 105% |
| Minimum Premium | $5,000 annual | $5,000 annual |
| Issue Ages | 20-70 (Accumulation IUL with Vitality) | 0-85 years |
| Underwriting Speed | 3-4 weeks standard | 2-4 weeks standard |