Updating John Hancock Life Insurance Beneficiaries: A Step-By-Step Guide

Changing the beneficiary of your John Hancock life insurance policy is a simple process. To do so, you can either log in to your online account and submit a Change of Beneficiary form, or download the form and mail it to John Hancock. You can also contact John Hancock's Customer Service Department at 1-800-732-5543, Monday through Friday, from 8 a.m. to 6 p.m. ET, to request the form and make the change. It is important to note that John Hancock does not accept complex or conditional beneficiary designations. Additionally, a beneficiary change may result in the loss of guarantees and benefits under certain riders, and taxable owner changes must be reported to the IRS.

How to fill out the John Hancock change of beneficiary form

To change the beneficiary on your John Hancock life insurance policy, you will need to fill out and submit a Change of Beneficiary form. This can be done by signing into your account online and submitting the form digitally, or by downloading the form and submitting it via mail or email. Below is a step-by-step guide on how to fill out the John Hancock Change of Beneficiary form:

Step 1: Access the Form

• Sign in to your John Hancock account.
• Navigate to the Change of Beneficiary form. You can usually find this in the "Forms Center" or by searching for it.
• Download the form if you wish to submit it via mail or email.

Step 2: Fill Out the Form

• Provide your policy number and full contact information, including your name, address, phone number, and email address.
• Clearly indicate the name of the new beneficiary. Include their full name, address, date of birth, and relationship to you.
• If there are multiple beneficiaries, specify the percentage of the benefit that each beneficiary will receive.
• Review the form to ensure all information is accurate and complete.

Step 3: Submit the Form

• If you are submitting the form online, follow the prompts to upload and submit the form.
• If you are submitting the form via mail or email, send it to the appropriate address or email provided by John Hancock.

Step 4: Follow Up

• John Hancock will typically process the change within 5-7 business days.
• You can check the status of your request by signing into your account.
• If you have any questions or concerns, contact John Hancock's Customer Service Department at 1-800-732-5543, Monday through Friday, from 8 a.m. to 6 p.m. ET.

How to change your beneficiary's name

To update your beneficiary's name with John Hancock, you will need to submit a Change of Beneficiary form. This can be done online, on paper, or over the phone.

• Log in to your John Hancock account.
• Navigate to the Change of Beneficiary form. You can find this by visiting the John Hancock website and accessing the forms page.
• Complete the Change of Beneficiary form accurately and entirely. Ensure that you provide all the required information, including the new beneficiary's full name, address, and relationship to you.
• Submit the form. You can do this online, by mail, or over the phone.
• If you choose to mail the form, send it to the following address:

John Hancock Insurance Life - Post Issue

P O Box 55979

Boston, MA 02205-5979

Please note that John Hancock requires a processing time of approximately 5-7 business days once the form is submitted. You can check the status of your request by logging into your account.

It is important to review your beneficiaries periodically, especially after significant life events such as marriage or the birth of a child, to ensure that your wishes are up to date.

How to change your John Hancock 401k beneficiary

To change the beneficiary on your John Hancock 401k, you'll need to submit a Change of Beneficiary form. Here is a step-by-step guide on how to do this:

Step 1: Visit the John Hancock website

Go to the John Hancock website at johnhancock.com/annuities.

Step 2: Find the Change of Beneficiary form

Once you're on the website, navigate to the forms page. Here, you'll be able to find the Change of Beneficiary form.

Step 3: Submit the form online

After locating the form, click on the link to submit it online. Follow the step-by-step instructions provided by John Hancock to complete the form submission process.

Step 4: Provide the required information

When filling out the Change of Beneficiary form, you'll need to provide certain information, such as the details of your current beneficiary and the new beneficiary you wish to designate. Make sure to fill out the form accurately and completely.

Step 5: Review and confirm the changes

Before submitting the form, carefully review the information you've provided to ensure it is correct. Once you're satisfied, confirm the changes by signing and dating the form in the designated space.

Step 6: Submit the form

Finally, submit the completed Change of Beneficiary form to John Hancock. You can do this by following the instructions provided on their website or by contacting their customer service department for further assistance.

It is important to note that you may also have the option to submit the form by mail or over the phone, depending on your preferences and the specific guidelines provided by John Hancock.

Additionally, keep in mind that there are different types of beneficiaries: revocable and irrevocable. A revocable beneficiary can be changed at any time without their consent, while an irrevocable beneficiary cannot be changed without their consent once they are named.

By following these steps, you can efficiently update the beneficiary on your John Hancock 401k and ensure that your wishes are accurately reflected in your policy.

When to change your beneficiary

It is important to keep your beneficiary designations up to date as your life changes. Here are some key moments when you should consider changing your beneficiary:

Marriage

If you get married, you may want to update your beneficiary to your spouse. In some states, you may be required to list your spouse as your primary beneficiary.

Divorce

Divorce may revoke a spouse's right to receive benefits. If you go through a divorce, be sure to review and update your beneficiary information.

Birth of Children

When you have children, you may want to add them as primary or contingent beneficiaries. Keep in mind that children under 18 cannot directly receive benefits, so you may need to set up a trust or custodial arrangement if you want them to access the benefits as minors.

Remarriage

If you get remarried, you will likely want to update your beneficiary information, especially if your previous spouse was listed as the primary beneficiary.

Death of a Loved One

If someone you listed as a beneficiary passes away, you will need to update your information, especially if they were your primary beneficiary.

Annual Review

It's easy to forget about updating beneficiaries, so consider setting a date to review your accounts and policies annually. Choose a date that's easy to remember, like your birthday or a holiday.

How to change your beneficiary over the phone

To change your beneficiary over the phone, you can contact John Hancock's Customer Service Department at 1-800-732-5543. This phone line is open from Monday to Friday, 8 a.m. to 6 p.m. ET.

Before you call, make sure you have the following information to hand:

• Your policy number
• Your full contact information

When you call, you will need to submit a Change of Beneficiary form. This can be done online, on paper, or over the phone. The customer service representative will guide you through this process.

It is important to note that there are two types of beneficiaries: revocable and irrevocable. A revocable beneficiary can be changed at any time without their consent. On the other hand, an irrevocable beneficiary cannot be changed without their consent once they have been named.

Frequently asked questions