MetLife Insurance Company Review

Metropolitan Life Insurance Company – now known as MetLife – is a leading provider of insurance products, as well as annuities and employee benefits programs around the globe. The company holds leading market positions not only in the U.S., but also in Europe, Japan, Asia, Latin America, Africa, and the Middle East.

MetLife serves approximately 100 million customers worldwide, including serving 54 of the top 100 Fortune 500 companies in the U.S. The company has approximately $590.9 billion in assets under management.

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Company History

MetLife has been in the business of providing insurance and financial products for more than 140 years. The company got its start back in 1863 when a group of businessmen in New York City formed the National Union Life and Limb Insurance Company. The company’s primary focus was on insuring sailors and soldiers against wartime disabilities during the U.S. Civil War.

The company actually had a rough start, and by the end of 1864, it only had written 64 accident insurance policies and 17 life insurance policies – putting it solidly in last place among all of the life insurers that operated in the state of New York at that time.

Although the company still had struggles ahead through the U.S. Great Depression, it later imported English agents to train its American sales force. By implementing successful British methods of selling insurance, MetLife was soon writing hundreds of policies each day – growing the company exponentially – and by 1909, MetLife was the largest life insurer in the United States in terms of policies in force.

Today, MetLife is still headquartered in New York City, New York, and it offers a full range of insurance and financial products to its customers. The firm is considered to be a leader in retirement and savings products, as well as the largest life insurer in terms of in-force coverage in North America.

Products Offered

MetLife offers a wide variety of insurance and investment products worldwide to both consumers and businesses. The company has a presence in nearly 50 different countries, and it continues to strengthen its global brand.

Products are offered via various distribution channels, including agents and brokers, banks, and direct marketing channels. For consumers, MetLife offers products such as life, disability income, auto, homeowner’s insurance, and retirement planning/investment products.

Life insurance products include the following options:

• Term Life Insurance – Term policies are considered to be the most basic, or core, type of coverage that is available in the marketplace today. This is because term life provides pure death benefit protection only, without any type of cash value or investment component. Because of this, term life is often the most affordable type of coverage as well – especially for those who are in good health at the time of application and for those seeking larger amounts of coverage, such as a million-dollar life insurance policy. If you are not in the best health and feel a no-medical exam life insurance policy would be best for you, we can help find the best carrier for your needs. Term policies are sold for specific time periods – or terms – such as 10 years, 15 years, 20 years, or even 30 years – after which, the policy will expire. If the insured passes away while the policy is still in force, the named beneficiary will receive the stated amount of death benefit coverage.

• Whole Life Insurance – Whole life policies combine death benefit protection along with a cash value or savings component. This type of policy is considered to be “permanent” coverage because, as the name implies, it covers the insured for the whole of his or her life, provided that the premium is paid. The cash value in a whole life policy is guaranteed to grow by a certain percentage each year on a tax-deferred basis. This means that no tax is due on the gain until the time that the cash is withdrawn. This tax-deferred status can allow the funds to grow and compound a great deal over time.

• Universal Life Insurance – Universal coverage is another form of permanent coverage because, as long as the premium is paid, the policy will not expire like term policies. These policies also provide both death benefit protection and cash value. However, they offer more flexibility than whole life in that the policyholder can decide – within certain limits – when to make their premium payment, as well as how much to pay. In addition, they may allocate how much of their premium will go toward the death benefit and how much goes toward the cash value.

• Variable Life Insurance – Yet another type of permanent coverage, variable life, is also offered by MetLife. Here, policyholders have both death benefit and cash value. However, the cash value return is based upon the performance of underlying market-related “subaccounts.” Because of this, the funds can grow a great deal in positive market years. However, these accounts can also carry a higher amount of market-related risk.

• Survivorship Life Insurance – Survivorship policies will typically cover more than one life. These policies will pay out the benefit upon the death of the second insured. Oftentimes, survivorship coverage is used by married couples for the purpose of estate planning and/or for other similar financial strategies.

In addition to life insurance, MetLife also offers a variety of fixed and variable annuities, as well as a number of investment and other retirement savings and planning products. Because the company provides access to such a wide array of products and services, consumers and businesses can diversify in order to meet a myriad of unique planning needs and goals.

MetLife’s Comprehensive Insurance and Investment Product Portfolio

Insurance Type	Description
Term Life Insurance	• Basic Death Benefit Protection • Affordable, Especially for Healthy Individuals • Policy Terms From 10 to 30 Years • Payout to the Beneficiary if the Insured Passes Away During the Term
Whole Life Insurance	• Permanent Coverage for Life • Combines Death Benefit With Cash Value • Guaranteed Cash Value Growth on a Tax-Deferred Basis • Provides Lifelong Protection as Long as Premiums are Paid
Universal Life Insurance	• Flexible Permanent Coverage • Offers Death Benefit and Cash Value • Allows Flexibility in Premium Payments and Allocation • Does Not Expire as Long as Premiums are Paid
Variable Life Insurance	• Permanent Coverage With Cash Value • Cash Value Growth Tied to Market Subaccounts • Potential for High Growth but With Market-Related Risk •Offers Both Death Benefit and Investment Component.
Survivorship Life Insurance	• Covers Two Lives and Pays Out Upon the Second Insured’s Death • Used for Estate Planning and Financial Strategies • Ideal for Married Couples and Joint Financial Planning
Additional Offerings	• Fixed and Variable Annuities • Investment and Retirement Planning Products • Diversified Options to Meet Unique Financial Goals • Available Through Various Distribution Channels Worldwide

MetLife Financial Ratings

Metropolitan Life Insurance Company holds high ratings from the insurer rating agencies. These include the following:

A.M. Best Company	Fitch Ratings	Moody’s Investors Service	Standard & Poor’s
A+	AA-	Aa3	AA-

Advantages and Considerations Before Purchasing Life Insurance From MetLife

When searching for coverage, certainly MetLife is a company that comes to mind. One reason for this is that it is one of the biggest and most well-recognized insurers in the industry today. It is also one of the top carriers – so this is definitely an advantage. Another plus is that MetLife offers a nice variety of coverage types – including term, whole life, universal life, and variable life – so, nearly any type of life insurance need can be covered in terms of policy configuration.

Aside from its products, the company also offers quality customer service. Representatives can be reached via either phone or email – and the customer service reps are known for being competent and knowledgeable. The company offers service on both a national and a local level in most cases, so this can help if assistance is needed quickly by a customer.

One area where an applicant for coverage may need additional assistance, however, is if they have an adverse health condition. Unfortunately, by going straight to just one single insurance company, you can often run the risk of being turned down if faced with particular health-related issues. The good news is that there are solutions for that as well.

How and Where to Purchase the Best Coverage for Your Specific Needs

Any time you are searching for a policy – regardless of the type or the amount of coverage – it is important to do a thorough job of researching and comparing your policy options. Because this coverage will oftentimes represent the financial means that your loved ones will require should the unexpected occur, you don’t want to leave the decision to chance. Therefore, making the right choice when it comes to the policy amount, coverage type, and carrier is essential.

When you’re ready to start searching for the ideal carrier for your needs, we can help. I have partnered with Root Financial to provide detailed and customized quotes. They work with the top life insurance carriers in the marketplace today – and can get you all of the information that you need quickly and conveniently so that you can make the most informed decision possible. All you need to do in order to get the process started is fill out and submit the form on this page. Custom quotes that you can evaluate will be available immediately.

I understand that the purchase of life insurance can be a big decision – and you want to make sure that you have all of the pertinent details that you require in order to move forward with confidence. Using my preferred provider will make sure that you get the attention you want and the details you need to make the best decision.

Conclusion

Metropolitan Life Insurance Company, now MetLife, stands tall as a testament to resilience and adaptation in the insurance industry. With over 140 years of experience and a start that could be described as humble at best, MetLife has evolved into a global powerhouse, serving approximately 100 million customers across multiple continents. From its inception during the U.S. Civil War to its dominance as the leading life insurer in North America, MetLife’s expansive product offerings, combined with its strong financial standing and emphasis on customer service, mark it as a notable leader in the insurance realm. While the company has its advantages, like any other institution, it may not be the perfect fit for everyone. As with any significant financial decision, it is always recommended to compare and contrast offerings to ensure the chosen product aligns with one’s specific needs and circumstances.

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