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Life Insurance

MetLife Insurance Review

By David Krug 6 minute read

Perhaps the information contained in this Metlife Life Insurance Review of the Top Life Insurance Companies will be the answer to your prayers!

MetLife life insurance is accessible solely via your employer. It’s prudent to enquire about your company’s prospective insurance coverage. MetLife is an excellent alternative for everyone due to its affordable rates, straightforward application process, and special attention to high-risk clients such as the elderly and smokers. If you’re in good health, you may be able to get a better cost on your medicine elsewhere.

Pros and Cons of MetLife Group Life Insurance

Pros

MetLife Insurance Review - MetLife Insurance Logo
  • Simple application procedures are available, as are group savings.
  • Everyone, regardless of health status, is eligible for the lower ticket rates.

Cons

  • A telephone interview is required.
  • Premiums are prohibitively expensive, even for individuals in good health.
  • At the moment, rider availability is restricted.

MetLife group life insurance rates

While MetLife does not post their pricing structure online, they do examine the following factors when determining the cost of life insurance:

  • Gender, age, height, and weight, as well as any other pertinent demographic information, must all be supplied.
  • This category includes elements such as cigarette usage and occupational exposure to hazardous conditions.
  • As one ages, the cost of life insurance premiums increases. Pricing is affected by factors such as the level of protection selected. The costs of term and permanent insurance are markedly different.
  • Consider the following scenarios for a 20-year term insurance policy for a healthy individual to get a sense of the cost.

What affects my rate with MetLife?

Everyone between the ages of 18 and 85 who is in excellent health is eligible for the insurance coverage. To obtain the greatest possible rate, however, one must be in superb physical shape. When determining your interest rate, you must take the following factors into account.

  • Age. On average, the younger you are and the less likely you are to submit a claim, the less expensive your insurance rates are on any given day.
  • Alcoholic beverage consumption or smoking Insurance companies will increase your premiums regardless of whether you have ever used illicit substances or smoked cigarettes.
  • It is also necessary to consider the family medical history. If you have had cancer or another qualifying condition in the past, insurance companies may view you as a higher risk of future illness.
  • A driver’s license history record. If you have a history of driving while intoxicated or under the influence of drugs, your insurance prices will increase according to your history.
  • Work and life are inextricably linked. If you are a pilot or engage in high-risk sports such as scuba diving or hang gliding, your insurance premiums may be higher than typical.

If you’re looking for a business that charges affordable rates to individuals who fit the following criteria:

  • Type 1 or type 2 diabetes
  • Elderly hypertensive patients
  • Serving military personnel

This section explains how to obtain the most competitive estimates from a MetLife or Brighthouse Financial advisor.

How to get a quote from MetLife life insurance

You are required to maintain life insurance as a condition of employment with MetLife. Schedule a meeting with your human resources representative to determine whether MetLife is a suitable fit for you. Brighthouse Financial, a MetLife subsidiary, is another option if you’d rather deal with a financial counselor than a broker for your financial planning.

What types of life insurance coverage does MetLife offer?

MetLife’s primary objective, which is the company’s basic mission, is to offer benefits to employees through their employers. Consult your organization’s benefits administrator to see whether MetLife is a viable alternative for your employees.

Employees at MetLife are automatically eligible for the following benefits:

  • Term life. Affordable coverage for a period of 10, 15, 20, or 30 years is conceivable. Depending on your work, you may be qualified for basic, supplementary, or dependent term life insurance.
  • The following definition applies to eternal life: Maintaining your insurance coverage is possible through a range of adjustable options based on your account balance. If you save money today, you may set it aside tax-free and have it later.

Does MetLife offer individual life insurance?

At the moment, Brighthouse Financial, a MetLife subsidiary, offers the following MetLife life insurance products:

  • Term is guaranteed to be level. The insurance is flat between the ages of 18 and 75, and coverage continues forever over this time period. Additionally, period durations ranging from 10 to 30 years are available. This is a viable option if you’re seeking affordable short-term insurance coverage. Conversion is possible at the conclusion of the term or at the age of 79%. Additionally, regardless of how much your health deteriorates, your current health rating will remain intact. Riders to an insurance policy waive disability benefits and hasten death benefits payout, respectively.
  • Life on a far bigger scale than we are capable of comprehending. The World’s Leading Accumulator In the case of your death, universal life insurance covers your death benefit. This is not the case with whole life insurance, since you have more influence over the policy’s accumulation of cash value. In some circumstances, the cash value might be used as a source of retirement income. Taxes on the cash value or interest earned on your insurance policy are not required. In addition to the accumulation of cash value, additional riders such as riders for death benefit acceleration and remission of some premiums, as well as riders for chronic and terminal care, are available.
  • Life insurance is a hybrid insurance product. This hybrid policy combines long-term care insurance (LTCI) with universal life insurance (UL) (LTC). There is a death benefit payable to your beneficiaries, and in the event that you require long-term care, it is included. You may choose to connect your long-term care benefits to an index or group of indices, which will allow your benefits to grow while protecting you from market declines.

Does MetLife offer burial insurance?

No, it is not. Beneficiaries, on the other hand, may be allowed to use the money to cover funeral expenses if their employer offers MetLife term or universal life insurance.

What riders can I add to my policy?

MetLife’s term life insurance policies provide a no-cost accelerated death benefit. If your life expectancy is less than 12 months, you may be entitled to receive a lump sum payment of a portion of your death benefit. You may elect to get the entire death benefit.

Additional riders are available to those who require them via the MetLife and Brighthouse Financial plans.

  • Riders benefit from hastened death. If you are terminally ill, it is possible to get a portion of your death benefit early.
  • Accidental death insurance is a supplemental policy. If you are killed in an accident, this insurance provides an extra death payout.
  • By accepting this rate, the passenger voluntarily waives his or her entitlement to a higher fare. You are not required to pay the insurance premium if you have sustained a major injury.

MetLife life insurance reviews and complaints

By 2020, the number of MetLife TrustPilot reviews will have decreased to less than 100. However, 72% of them have a TrustScore of 2.2, which is deemed poor. Additionally, the organization went a whole year without responding to any negative Trustpilot reviews, which is quite an accomplishment.

However, despite the company’s B- rating based on 96 customer evaluations, the Better Business Bureau does not recognize MetLife. Given that the great majority of significant insurers have an A rating, an A rating is not regarded to be poor. AM Best has assigned them an A+ financial rating. MetLife got 773 points out of 1,000 in the 2020 JD Power customer satisfaction assessment for individual life insurance, placing it seventh overall and ten points ahead of the industry average.