Hancock Binds Temporary Policies Online.

John Hancock Financial Services, Boston, is offering its term life customers temporary insurance at no extra cost between the time an application is filed and issued.

The company is piloting its product to applicants between the ages of 20 and 49, who are applying for no more than $250,000 of term insurance and have no prior medical conditions and no hazardous jobs or hobbies. The system launched on Dec. 7.

Once consumers complete an application online, John Hancock will create a printable version of the application with the applicant's personal information included, which can be downloaded, printed out and faxed or mailed back to the company. The consumer then must undergo a medical screening by a paramedic within 14 days. After completing this process, the consumer is then covered on a temporary basis for 60 days, said Diana Scott, vice president of e-business.

Along with the quoted rate, the consumer will see a list of quotes for other rate classes. The lowest quote on the list will be accompanied by a brief explanation of possible reasons the applicant didn't qualify for this rate class. Applicants then will be offered a longer, more detailed questionnaire. Another quote based on the additional information then will be provided. At the end of the online application process, a consumer can submit the application or discontinue the process.