401(k) Loan Option


In times of economic hardship or an unplanned financial crisis, there might be times when you want to take out a loan that is tied to your 401(k) account. Before you decide to borrow, make sure you fully understand the process and potential ramifications.

Watch 401(k) Loan Overview Video

What Guidelines Apply?

  • Minimum amount of loan

  • Maximum amount of loan

  • Fee for the loan

Learn more about guidelines

Things to Consider

  • Tax implications

  • Impact to investments

  • Leaving employment

Learn more about things to consider

How to Apply

  • John Hancock's website

  • How to calculate loan

  • Check status of loan

Learn more about how to apply


On April 14, the Plan Sponsor Committee chose to adopt the optional provisions included in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This has impacts to a new Coronavirus-Related Distribution (CRD) and 401(k) loans. Learn more.

Status of Current Loan

To check the status of a current loan:


  • Call 1-800-294-3575 to speak with a John Hancock Participant Services Representative.
  • Representatives are available 8:00 a.m. - 10:00 p.m. (Eastern), Monday–Friday on New York Stock Exchange Business days.

 More Information