Many times we purchase a product because it has a good brand name. And while there is something to be said for a solid reputation, it does not make sense to pay a premium for a product when an alternative is just as good. In March 2017, Metlife introduced a new company for the retail side of its life insurance, Brighthouse Financial.
At TermLife2Go, we work with dozens of top rated best life insurance carriers, including MetLife. We focus on finding the niches that the various companies cater to and aligning our clients with the right company that meets your need. Give us a call today to see if MetLife is the best choice for you.
2017 Review of MetLife Life Insurance
If you are looking for MetLife Life Insurance Reviews then you have come to the right place. In this review of MetLife Life Insurance we will discuss the pros and cons of Metropolitan Life. We will also provide our recommendation to current and prospective clients of Met-Life.
MetLife Life Insurance Reviews 2017
PROS for MetLife
MetLife’s A.M. Best Company Rating
Any good MetLife Insurance review will begin with the company’s financial strength as determined by A.M. Best, the premier ratings agency for life insurance. Best gives MetLife Insurance an A+ rating, or “Superior”. This means that Metropolitan Life Insurance Company has superior financial strength among its competitors. Therefore, if you are currently with MetLife you are in good hands. The company is on solid financial ground, meaning it can meet its financial obligations, such as paying out a claim on life insurance.
As of January 12, 2016, MetLife stated that the Company plans on breaking off part of its business that sells life insurance to U.S. households. This is a strategic move by Metropolitan Life that will allow it to streamline its life insurance division.
MetLife Life Insurance Products
In this section of our MetLife Life Insurance Review we will be discussing the large array of life products offered by Metropolitan Life Insurance Company.
MetLife Life Insurance Products Include:
MetLife offers a simplified issue (think no medical exam) term life insurance policy* for face amounts under $100,000. There are distinct advantages to choosing no medical life insurance verus a fully underwritten policy that does require an exam. The paramount advantage when considering exam versus no exam is that if you have not had a physical in a few years then not taking an exam may actually save you money.
No exam protection is an excellent option when you are faced with having to get life insurance fast for a divorce decree or SBA loan insurance. However, for those who do not need immediate coverage, taking an exam does offer the potential of securing less expensive coverage, such as for key man life insurance.
For face amounts over $100,000, MetLife offers fixed term life insurance where the premium and face amount stay the same over the life of the policy. 10, 15, 20 and 30 year term lengths are available depending on age.
*Please note: The premium on MetLife’s simplified issue term policy will increase every five years.
Sample MetLife Term Life Insurance Quotes
Rates are for a 35 year old male at a preferred plus non-tobacco rate class as of January 2015. Rates are subject to change and must be qualified for.
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Please enter your info below to check out MetLife life insurance rates, as well as rates from dozens of other carriers.
Permanent Life Insurance
Permanent life insurance is great for anyone who needs to lock into protection for the rest of your life. For example, permanent coverage is a superior choice for business succession with buy sell agreements or for estate planning with life insurance.
MetLife is a great company for anyone considering either a whole life or universal life policy. On face amounts ranging from $100,000 to $1,000,000, MetLife offers a special Enhanced Rate Plus Program on its Promise Whole Life Select and Premier Accumulator Universal Life.
Enhanced Rate Plus Program
The program offers the two products mentioned above without the need for a medical exam, blood draw, or urine sample. Essentially, it is no exam whole and universal life insurance. Instead, the potential insured submits a tele-app which includes a phone interview with a representative of MetLife’s call center.
The Company’s Whole Life Insurance provides:
- a guaranteed death benefit,
- guaranteed fixed premium for the life of the policy, and
- guaranteed cash value accumulation.
And although not guaranteed, MetLife has paid dividends to qualifying whole life policyholders for over 100 years.
What to do with dividends? You can:
- Purchase paid up additional life insurance
- Receive as cash for whatever you choose
- Reduce or eliminate premium payments
At TermLife2Go, we strongly recommend using participating whole life insurance if you plan on practicing infinite banking.
MetLife Universal Life Insurance provides flexible options to a traditional whole life insurance policy. The Universal Life policy offers the cash value associated with a whole life policy with additional riders and features that can greatly enhance any retirement portfolio. But if you are considering Indexed Universal Life you will need to look elsewhere.
Another option is survivorship or second to die life insurance that is set up between spouses. The policy pays out when the 2nd spouse dies, greatly decreasing the cost of the insurance.
MetLife’s Final Expense Life Insurance policy provides guaranteed coverage, with no medical exam or health questions.
This burial life insurance policy is available for ages 45-75. 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.
All in all, Metropolitan life insurance company provides all the life insurance products that any client seeking life insurance would need.
MetLife Underwriting Niches
In this part of our MetLife life insurance company review we will discuss MetLife’s niches, or in other words, the areas where MetLife outshines the competition. These are the areas that help MetLife stand out as one of the most affordable life insurance companies in the United States.
MetLife has been very good about insuring active military. Another area where MetLife excels is insuring clients who have type 1 Diabetes and type 2 diabetics. Therefore, if you are an active duty military or suffer from type 1 or 2 Diabetes, MetLife might be the company for you. The reason we stress the word might is that there could be a superior company for military members or type 1 diabetics so we caution you against applying with just one company.
MetLife also has some awesome underwriting in regards to blood pressure, especially for older clients. For someone age 55-69, a blood pressure reading of 140/85 will still qualify for MetLife’s Elite Plus rate class. And for a standard rate class, a blood pressure reading of 170/90 will still qualify.
MetLife has other niches, such as life insurance for marijuana users. But the point we are trying to make is that we understand this company. However, we represent dozens of top rated life insurance carriers. Therefore, don’t just settle on this one company but let us direct you to the best company at the best price for your specific scenario.
CONS for MetLife
Let’s face it, for most people shopping for life insurance online, price is king. And if you are searching for MetLife Life Insurance Reviews, you are probably an online life insurance shopper. So one huge question you are asking is, where does MetLife Insurance compare regarding price?
Met-Life typically comes in somewhere in the lower end of the top 10 companies for price. For example, a 40 year old male in perfect health looking for a $500,000 20 year term policy would pay $414 a year with Metropolitan Life. However, that is over $60 more than the top company. Over 20 years, going with MetLife would cost $1,200 more.
That being said, you never really know how its going to turn out which is why one should always consider MetLife as a serious contender when shopping for life insurance.
One Company versus Dozens of Companies
As other MetLife Life Insurance Reviews have probably mentioned, going with one company, (even a great company life MetLife), really limits a consumer who is shopping for the cheapest life insurance available. For example, MetLife does not offer a 25 year term for 60 year old clients. However, there are a few companies that do.
Rather than limit your options to one company, the better choice is to choose an agency that works with dozens of companies. Give TermLife2Go a try and let us look through all the companies we represent to make sure you are getting the best company at the best price.
Consider your options
If you are truly seeking out the best company for your specific situation, than you need to consider other options besides Met-Life. In a lot of situations Metropolitan Life Insurance Company may be the best option for life insurance. However, without seeking out alternatives to this company, you may be taking an inferior offer for life insurance. And as a result, you could end up paying thousands more for life insurance over the life of the policy.
Instead of applying exclusively with MetLife, give TermLife2Go an opportunity to win your business. We will be able to ask a few pointed questions on your health and lifestyle that will help us direct you to the best company at the best price. That way you know that you are going with the best deal on life insurance available.
We do not favor one life insurance company over another. Instead, we find out what you need and then we recommend the lowest priced, best life insurance company to meet your specific need. Therefore, if price matters to you, give us a chance to earn your business. We are here to serve you!
For a free life insurance consultation and for free quotes from MetLife and dozens of other top rated life insurance companies, please call us today.
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