Since its founding in 1868, the metropolitan life insurance company has been one of the leading companies in the life insurance sector. However, in 2017, the corporation separated the division of its operations that dealt with selling individual life insurance. Brighthouse Financial is the company's name when it runs independently of MetLife.

If your business provides life insurance via MetLife, it is in your best interest because group premiums can sometimes be much less expensive than individual rates. However, if you can buy supplementary coverage for the same price from another business, you should do so rather than purchase it from MetLife life insurance. This is because MetLife has problems maintaining satisfied customers.

Policies of MetLife Insurance

Life Insurance Coverage for Groups

According to MetLife life insurance review, the death benefit is only guaranteed to be paid out to your dependents by term life insurance if you pass away within the policy's stipulated time frame, which is generally between 10 and 30 years. It safeguards your loved ones even while you are still obligated to fulfill financial responsibilities, such as raising children or owning a house. In the event that you pass away after the period has concluded, no payout would be made to your beneficiaries. However, term life insurance is typically sufficient for most individuals and is far more reasonably priced than permanent life insurance.

MetLife provides additional employee-paid insurance and dependent coverage in addition to the employer's term life insurance plans. Later on, term plans purchased from MetLife have the option to be changed into permanent insurance.

Insurance for Groups and Individuals

Universal life insurance, often known as UL insurance, is a form of perpetual insurance coverage that does not terminate as soon as the policyholder continues to pay the required payments. As compared to whole life insurance, universal life insurance offers tax-deferred capital accumulation, greater flexibility, and lower rates. When you quit your employment, you won't have to worry about losing your life insurance coverage since MetLife offers a flexible international life insurance policy that is transferable.

Insurance for Groups That Are Universally Variable

There is a kind of universal life insurance known as Variable Universal Life insurance. With this kind of coverage, the cash value can be invested in the stock market. This kind of protection is regarded as the most dangerous kind of life insurance because your cash value may decrease if the performance of your assets is subpar, which might lead to the policy being terminated.

Available Riders

Riders are an endorsement that may be added to your life insurance policy to give you additional benefits. After looking into MetLife life insurance reviews, we can say that the base policy includes some riders at no incremental expense, while others are available as paid add-ons.

Child Benefit Rider

Child benefit riders often offer term protection for all children qualified to be covered under the policy. In many cases, you will eventually be able to change this coverage into permanent insurance for your child.

Remission of the Premium

If you become permanently handicapped and cannot work, you will be able to put a hold on your monthly premium payments, thanks to this rider. However, before you may get out of paying your premiums, there is often a waiting time involved.

Benefit in Case of Accidental Death

If the insured person were to pass away due to an accident, this would offer an extra death benefit.

Terminal Illness Rider

This ABR is included at no additional cost and allows you to obtain a portion of the life insurance while you are still alive if you have been diagnosed with a terminal disease. This can be used for anything you wish, although it can assist pay the expense of care if you want to. Take note that this will result in a reduction in the death benefit received by your beneficiaries.

Riders With Chronic Illness

If you are diagnosed with one of the chronic disorders covered by this ABR, you will have access to a share of the life insurance policy before you're passing away at no additional expense. In order to be eligible for this benefit, you will often need to suffer from a significant cognitive impairment or have lost the capacity to conduct at least two functions in daily life.

Customer Support

In the event that you want assistance with your MetLife insurance, you have the option of getting in touch with the employee benefits administrator at your place of employment or contacting MetLife directly. MetLife does not provide a list of its customer service hours. Nevertheless, you may get in touch with the organization by calling one of the accompanying phone numbers:

• Call (866) 492 6983 for information on group term insurance.
• 800-523-2894 is the number for Group Universal Life.
• 800-638-5000 for life insurance on an individual

Advantages of MetLife Insurance

• Coverage Prices: Your employer may provide you with access to more affordable life insurance policy options, and you will be able to keep the coverage even after you leave their employ.
• Transferable Coverage: Coverage for the term that can be converted to universal insurance at a later time is provided by convertible term policies.
• Perks on Living: Some of MetLife's plans come standard with both a chronic disease rider and a life-threatening illness rider at no additional expense to the policyholder.

Disadvantages of MetLife Insurance

• Life Insurance for Individuals: Instead, the company primarily provides coverage to businesses. Because of this, the specifics of the policy are not available online; instead, you will need to speak with the administrator of the employee benefits program.
• Low Ranking in Terms of Customer Satisfaction: According to the results of the J.D. Power 2021 U.S. Personal Life Insurance Study, MetLife had a ranking that was below standard.
• Numerous Problems with the NAIC: Considering the firm's scale, the NACI received more than three times the amount of complaints that were predicted, indicating that there are issues with customer satisfaction at MetLife.