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HomeNewsNovember 2022 MetLife Life Insurance Review • Benzinga

November 2022 MetLife Life Insurance Review • Benzinga

MetLife Rankings at a Look

If you happen to’re available in the market for all times insurance coverage protection, you already know that there are numerous sorts of life insurance coverage. However how have you learnt which one is best for you? Step one is your life insurance coverage choices and choosing the proper life insurance coverage firm for you. Benzinga made that slightly simpler by offering you with this MetLife Life Insurance coverage assessment.

Minimal Protection $5,000
Most Protection $1.5M+
Eligible Ages 18 – 69 years outdated
Time period Lengths 10, 15, 20, 25 or 30 years
# of Rider Choices 6

MetLife now not sells life insurance coverage insurance policies on to people. Nevertheless, it does provide employer-sponsored plans. Right here’s an summary of the plan choices from MetLife.

Time period life insurance coverage: Time period life insurance coverage is a coverage that may expire after it reaches the top date that’s set forth in your coverage paperwork. This type of life insurance coverage is often essentially the most reasonably priced type.

  • MetLife’s Primary Time period Life coverage is usually paid for by employers and gives safety for a set time period.
  • Supplemental Time period Life insurance policies permit you to buy further safety in case your wants change all through the time period. You might be able to add dependent, partner or home protection via this feature.
  • Dependent time period life gives protection to your partner, civil union associate, home associate and/or eligible youngsters. 

Group variable life insurance coverage: Such a coverage will final to your total lifetime and might stick with you even in case you change jobs or firms. It gives fee flexibility, that means you possibly can pay greater than the price of your insurance coverage and put that cash into funding choices. You’ll even have an interest-bearing fastened account with a assured minimal rate of interest and entry to the money worth of the coverage while you want it. 

Group common life insurance coverage: Group common life insurance coverage is a everlasting coverage that mixes life insurance coverage and financial savings choices. Just like the group variable life insurance coverage insurance policies, the sort of coverage can transfer with you in case you change jobs or firms. It could actually embody a tax-deferred financial savings characteristic for added flexibility and be used as a complement to your retirement earnings. 

Unintended demise and dismemberment (AD&D): Unintended demise and dismemberment protection may be added to fundamental time period life insurance coverage to offer additional safety to your coverage. MetLife gives a number of choices for this protection:

  • Primary unintentional demise and dismemberment is employer-paid protection that is the same as an worker’s fundamental time period life insurance coverage quantity.
  • Supplemental unintentional demise and dismemberment is paid by the worker to enrich the worth of a supplemental time period life coverage. It gives further protection and gives a proportion of the demise profit quantity within the occasion of a non-fatal lined loss.
  • Dependent unintentional demise and dismemberment may be added to supply spouses and dependents of a policyholder with a profit that is the same as the dependent time period life profit quantity. It’s paid for by the worker.
  • Voluntary unintentional demise and dismemberment is a stand-alone protection possibility that’s out there to staff, spouses and dependent youngsters. It may be bought by the worker even when the worker doesn’t enroll in a life insurance coverage coverage.
  • Enterprise journey accident (BTA) gives an extra profit that covers accidents that end in demise or critical damage for workers who’re touring on firm enterprise. It covers losses each domestically and internationally and is paid for by the employer.

MetLife additionally gives further riders and advantages with its group insurance policies. The supply of those choices varies and will not be out there in each location or with each coverage.

Acceleration of demise profit: This characteristic means that you can entry a portion of your demise profit whilst you’re nonetheless residing in case you grow to be terminally sick.

Accelerated demise profit for power sickness rider: With this rider, you possibly can acquire entry to as much as 92% of your coverage’s demise profit in case you grow to be completely chronically sick. To qualify for this entry, you have to meet the standards set by MetLife. 

Incapacity waiver of premiums profit: With this profit, in case you’re disabled for six months at a time or extra, your premiums can be waived whereas preserving your coverage lively.

The Enricher: This rider offers you the choice to pay further premiums to construct up your coverage’s demise profit in addition to its money worth. 

MetLife gives customer support primarily via its customer support middle, which is open from Monday via Thursday from 8:00 am to eight:00 pm EST and Friday from 8:00 a.m. to five:00 p.m. EST.

The corporate is just not rated or accredited by the Higher Enterprise Bureau (BBB). Nevertheless, it does have numerous buyer complaints and holds a median buyer assessment rating of 1.09 out of 5 stars. Thankfully, although the shopper complaints don’t paint one of the best image, the insurer does have sturdy monetary rankings. 

MetLife recommends downloading the life insurance coverage declare package to begin the method of submitting a declare. The package incorporates the declare type, which you’ll want to finish and return to MetLife. MetLife additionally wants the demise certificates of the deceased and different paperwork as outlined within the package. 

After MetLife has acquired the finished declare type, it should assessment every little thing inside 5 enterprise days. If extra info is required, the insurer will reply to your declare inside 10 enterprise days to let you already know. As soon as the declare is permitted, fee is shipped by way of USPS inside 5 enterprise days.

BBB Score Not rated
AM Finest Score A+ (Superior)
NAIC Criticism Index 1.00
Moody’s Score Aa3
J.D. Energy Score 773 out of 1,000

Since MetLife solely gives group life insurance coverage via employers, people can’t get a web-based quote. You have to contact your employer to see if you will get a MetLife life insurance coverage coverage via them. 

The upside to group insurance policies is that you simply’ll have entry to aggressive group charges as an alternative of particular person charges. Your employer may contribute towards your premiums and permit you to deduct your portion of the premium out of your payroll. 

Making use of for a MetLife life insurance coverage coverage requires going via your employer, so it isn’t one thing that you are able to do by yourself. Nevertheless, this characteristic could make the appliance course of simpler as a result of your employer may have already chosen the plans that it’s going to provide. 

MetLife has a cell app, but it surely can’t be used for all times insurance coverage functions both. The MetLife app means that you can pay and handle different sorts of insurance coverage however doesn’t seem to supply any options that profit these with a life insurance coverage coverage.

MetLife used to supply insurance policies that didn’t require a medical examination. The supply of the sort of life insurance coverage coverage could rely in your location and what’s provided by your employer.

MetLife vs. Rivals

MetLife stands out as a result of it solely gives group life insurance coverage insurance policies right now. Even so, you will get a life insurance coverage coverage when working for one employer and take it with you in case you change jobs. MetLife is a long-standing and dependable insurer with good monetary power rankings.

  • securely via Bestow Life Insurance coverage’s web site

    *excludes New York

  • securely via Cloth Life Insurance coverage’s web site
  • securely via Ladder Life Insurance coverage’s web site

    Ladder Insurance coverage Companies, LLC (Cal. license # 0K22568; Ark. license # 3000140372) gives time period life insurance coverage insurance policies: (i) in New York, on behalf of Allianz Life Insurance coverage Firm of New York, New York, NY (coverage type # MN-26); and (ii) in all different states and the District of Columbia on behalf of Allianz Life Insurance coverage Firm of North America, Minneapolis, MN (coverage type # ICC20P-AZ100 and # P-AZ100). Solely Allianz Life Insurance coverage Firm of New York is allowed to problem life insurance coverage within the state of New York. Insurance coverage coverage costs, coverages, options, phrases, advantages, exclusions, limitations and out there reductions differ amongst these insurers and are topic to {qualifications}. Every insurer is solely accountable for any claims and has monetary accountability for its personal merchandise.

MetLife is a dependable and trusted insurer that gives group life insurance coverage insurance policies via employers. The insurer used to supply particular person life insurance coverage insurance policies as nicely however has since simplified its product choices. The excellent news is that getting a bunch life insurance coverage coverage usually means that you’ve got entry to higher charges than you’d in case you bought a person coverage. 

MetLife: Extra Choices

MetLife gives a wide range of further choices for workers and small companies. Workers could have entry to different insurance coverage merchandise via their employer, together with auto insurance coverage, house insurance coverage, dental insurance coverage and imaginative and prescient insurance coverage. They might even have entry to employer-sponsored retirement plans and annuities. 

MetLife additionally gives well being financial savings and spending accounts in addition to pet insurance coverage.

Incessantly Requested Questions

Questions & Solutions


Who took over MetLife life insurance coverage?


MetLife separated a part of its U.S. enterprise to grow to be its personal firm known as Brighthouse Monetary, Inc. When this separation occurred, some insurance policies moved to Brighthouse Monetary. MetLife continues to be operational and continues to enroll insurance policies in employer-sponsored plans. 


Do beneficiaries pay taxes on life insurance coverage insurance policies?


Based on the Inside Income Service (IRS), “Usually, life insurance coverage proceeds you obtain as a beneficiary as a result of demise of the insured individual, aren’t includable in gross earnings and also you don’t need to report them. Nevertheless, any curiosity you obtain is taxable and you must report it as curiosity acquired.”


Does MetLife nonetheless do life insurance coverage?


MetLife now not gives private life insurance coverage insurance policies, however as an alternative solely gives insurance coverage insurance policies via employers.


  1. Moody’s. “Moody’s assigns P-1 short-term insurance coverage monetary power ranking to Metropolitan Tower Life Insurance coverage Firm.” Accessed January 10, 2022.
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