Big News: In 2017, MetLife announced that it will be now known as Brighthouse Financial for their retail life insurance sales. The bigger news is that MetLife is one of the oldest and biggest life insurance companies around. Does this mean they’ll get your the best deal on life insurance? Keep reading and let’s find out with our MetLife Insurance Company Review.
MetLife Insurance Company
The MetLife life insurance company is one of the biggest life insurance carriers available. They're rated A+ by A.M. Best. MetLife has a good reputation and few customer complaints.
Founded in 1868, MetLife has been in the insurance industry for over a century. For over 140 years, MetLife has been providing life insurance products for families and business. A worldwide leader in the industry, MetLife has policies on more than 90 million people globally.
MetLife is just one of over 60 life insurance companies that we represent. Let’s dive into MetLife and see how strong their financial ratings are as well as the products they offer. We’ll also look into how their rates stack up to the competion.
What company is the best?
MetLife Financial Ratings
You’ll always want to start looking at the financial ratings and strength of MetLife and any life insurance company you’re thinking of buying from. You’ll want to be confident that the company you apply with will be around when you and your family need it most.
How to choose? When comparing companies like MetLife & looking to choose from two carriers, one rated A+ and one rated A++, either one is likely to be there when you need it. However, if you’re picking carriers that are rated B+ and A+, financial strength could factor in your buying decision. Try to avoid companies that 1 or more financial agencies rate as potentially vulnerable.
Even though MetLife offers many life insurance shoppers competitive rates, they aren’t always the best priced company. For many situations, MetLife doesn’t make the Top 5 for lowest rates. This goes for term life, whole life, and guaranteed universal life policies. Depending on the situation, we often find better rates for our clients with companies such as Protective, Banner, AIG and Prudential.
MetLife is often chosen because they’re a reputable company and financially strong. This makes MetLife a great choice for anyone looking for trusted and familiar life insurance company.
MetLife Sample Term Rates
Let’s see how MetLife stacks up vs the competition. We ran quotes for a 35 year old non smoking man in excellent health (Preferred Plus rates). Rates are based on a $1 million life insurance policy and 30-year term.
|Company||Monthly Premium||Face Amount||Term Length|
Sometimes MetLife is a great choice for particular situations. Life insurance shoppers all have unique situations based on their health, lifestyle and coverage goals.
MetLife is often times a better choice in these situations:
1. MetLife for Health Conditions
Certain companies are better than others when it comes to specific risk factors. Not all companies look at your the same. Some companies are better if you’re overweight, use tobacco, or have a preexisting health condition.
- Blood Pressure (for seniors)
These are a few of the situations where MetLife is better than the competition. It’s important to note that you’ll still need to go through underwriting before you find out what you’re approved at. However, MetLife has shown that on average, they’re better for the above risk factors.
2. active military service members
For military service members, MetLife is one of the two “go to companies.” When it comes to life insurance for active members of the military – we often recommend MetLife and Prudential. MetLife provides coverage even if you have deployment papers. Most life insurance companies will deny you if you’re active duty, but MetLife has a great history of approving military members.
3. Marijuana Users
For pot users, MetLife is often times more lenient compared to other carriers. For example, MetLife will not automatically assign a tobacco-user rate for applications showing marijuana use. Most life insurance companies do the opposite.
MetLife Term Life Insurance
Term life insurance is generally the most affordable type of life insurance. MetLife term life insurance gives protection for your beneficiaries for the term length you select. Once the term is finished, coverage will expire unless you renew your policy. Be sure to read the rules for renewing your policy as each company is different.
- GLT-10: MetLife Brighthouse Guaranteed Level Term provides level premium life insurance with level premiums for a 10-year period.
- GLT-15: MetLife Brighthouse Guaranteed Level Term provides level premium life insurance with level premiums for a 15-year period.
- GLT-20: MetLife Brighthouse Guaranteed Level Term provides level premium life insurance with level premiums for a 20-year period.
- GLT-30: MetLife Brighthouse Guaranteed Level Term provides level premium life insurance with level premiums for a 30-year period.
Universal Life Insurance
With MetLife’s Universal Life Insurance policy, you’ll a policy with flexibility compared to your typical whole life insurance policy. With a universal life policy, you’ll have the option of having a flexible premium payment and death benefit. You’ll also grow cash value similar to a whole life policy. We’ve found that if you’re specifically looking into an Indexed Universal Life policy, you should probably shop elsewhere. There are better options available..
Whole Life Insurance
With MetLife’s Whole Life insurance product, you’ll be getting a policy that delivers:
- A death benefit that is guaranteed
- A guaranteed fixed premium
- Guaranteed cash value growth
- MetLife also pays dividends on their qualifying whole life policies (not guaranteed)
- Even though dividends aren’t guaranteed, MetLife policyholders have received them for over a century
Whole Life dividends can be used in a variety of ways:
Final Expense Life Insurance
With a Final Expense Life Insurance policy from MetLife, you’ll get a policy that offers guaranteed coverage to cover burial costs and final expenses. These are small whole life policies that do not require a medical exam. Some have health questions, but there are guaranteed issue final expense policies available that do not have health questions.
The policy comes with a two year graded death benefit, meaning the full face amount will not be paid out until after two full years.
MetLife Company Details
Name(s): MetLife, Inc.; MetLife Investors; MetLife Bank; MetLife Securities, Inc.; Metropolitan Property and Casualty Insurance Company; Metropolitan Life Insurance Company; American Life Insurance Company; General American Life Insurance Company; New England Life Insurance Company; Brighthouse Life Insurance Company; Brighthouse Life Insurance Company of NY
1095 Ave. of the Americas
New York City, NY 10036
Ratings: A.M. Best (A+), Standard & Poor’s (AA-), Fitch (AA-) Comdex (95), Moody’s (AA3)
Getting the Best Life Insurance Deal
We cannot stress enough the importance of using an independent life insurance agent to help you choose the right policy and company.
Independent life insurance agents shop from multiple companies to find you the best deal. Our agents know which life insurers offer the best rates based on your age, health and lifestyle.
Will MetLife / Brighthouse life insurance rates be the best or will some other company? We’ll find out for you. So instead of you wasting your time trying to figure this all out on your own, we’ll do it for you.
We shop rates from all the major companies all at once. No pressure or pushy sales tactics. Just a dedicated licensed agent who will answer all your questions and help you from start to finish.
metlife life insurance reviews
We hope our MetLife life insurance reviews has helped you on your quest for coverage. Don’t hesitate to reach out to us if you have any questions.
Life Insurance Blog is an impartial life insurance broker who represents dozens of life insurance companies. We help our customers pick the best life insurance carrier and options that’s right for them. We do not push any specific companies like some agencies. We have access to the Top 10 life insurance companies – in fact we have access to over 60 companies when we shop for our clients. We don’t try to put shoppers into a plan that is not suitable for their goals and needs. Our number one concern is our clients and future policyholders.
We offer you free life insurance consultations and work with you to understand your goals and then help you with an appropriate recommendation. So, what are you waiting for? Contact us today or visit our Life Insurance Quotes page where you can get a MetLife life insurance quote.