MetLife Group Life Insurance Review

You can only get MetLife Group Life Insurance via your employer. In the event that your business provides insurance plans as part of your benefits package, you should look into them. With affordable rates, a straightforward application, and special consideration for high-risk candidates like elderly and smokers, MetLife is a great option for anybody. However, if you’re in good health, you might be able to get a better deal somewhere else.

Pros and Cons of MetLife Group Life Insurance

MetLife Group Life Insurance Review - MetLife Insurance Logo

Pros

  • Simple procedure for submitting an application
  • Group discount
  • Low rates for everyone, regardless of health.

Cons

  • It’s required to do a phone interview
  • Rates that are too high even for healthy people
  • The number of available riders is constrained.

MetLife group life insurance rates

There is no information on MetLife’s pricing structure posted online, although they do take the following factors into account when calculating the price of life insurance:

  • Age, gender, height, and weight are all required information.
  • A person’s general well-being, including things like smoking habits
    jobs with a high level of risk exposure
  • The cost of life insurance rises with age. The cost is also influenced by the sort of coverage you get. Term insurance is less expensive, whereas permanent insurance is more expensive.
  • Check out some example quotations below for a policy with a term of 20 years for an individual in excellent health to get an idea of how much you may spend for your insurance.

What affects my rate with MetLife?

Everyone between the ages of 18 and 85, depending on their health status, can get coverage. However, being in excellent health is beneficial in order to acquire the greatest possible rate. You’ll have to consider the following important elements when determining your interest rate:

  • Age. The cheaper your premium will be, on average, the younger you are and the less likely you are to submit a claim.
  • Drinking or smoking. No matter if you’ve used drugs in the past or smoked cigarettes, your insurance rate will be affected.
  • Family health history. If you’ve had cancer or another qualifying disease in the past, insurance companies may view you as a higher risk.
  • Record of a driver’s license. The higher your premium will be if you have a history of drunk driving, the greater the risk you are deemed.
  • Work and way of life. Insurers may charge a higher premium to those with high-risk employment like pilots and those with risky hobbies like scuba diving or hang gliding.

MetLife, on the other hand, has a reputation for providing competitive rates to individuals who have the following conditions:

  • Diabetes type 1 or type 2
  • Hypertensive elderly people
  • Serving members of the armed forces

Talk to a MetLife or Brighthouse Financial advisor to find out how to get the lowest possible rates.

How to get a quote from MetLife life insurance

MetLife requires that you get life insurance via your employment. Find out whether MetLife is accessible to you by contacting your HR representative. Another option is Brighthouse Financial, a MetLife-owned insurer that allows customers to join up directly with a financial advisor.

What types of life insurance coverage does MetLife offer?

MetLife’s primary focus is on offering benefits to employees via their employers. See if MetLife is available via your company’s benefits administrator.

As a standard, MetLife offers certain policies to employees via their jobs:

  • Term life. Protection for 10, 15, 20 or 30 years is ensured with affordable coverage. Your company may provide you with basic, supplementary, and dependent term life insurance coverage.
  • Existence for all time. These adaptable plans allow you to keep your coverage as long as you like while paying for it as you go based on the worth of your account. You’ll be able to accumulate money tax-deferred and have money in the bank when you’re older.

Does MetLife offer individual life insurance?

There isn’t, but Brighthouse Financial, a MetLife offshoot, now offers all of the life insurance plans that MetLife has long been renowned for:

  • Guaranteed level term. The policy is flat and coverage remains the same until the period is over for those between the ages of 18 and 75. Ten, fifteen, twenty, or thirty year periods are also available. If you need temporary insurance, this is a good alternative because it’s not too expensive. By the conclusion of the term or at the age of 70, there is a conversion option. Even if your health has deteriorated, you will retain the same health rating. The policy has disability premium waiver and death benefit acceleration riders.
  • Universal life. Your death benefit is safeguarded with the Premiere Accumulator Universal Life policy. Because you have more influence over the policy’s cash value buildup, whole life insurance isn’t like that. Use the cash value as a source of retirement income. Your policy’s cash value and the interest you’ve earned are tax-free. Three additional riders are available in addition to the cash value accumulation: acceleration of death benefit, waiver of specific premium, as well as chronic and terminal care riders
  • Hybrid life insurance. In this hybrid policy, universal life insurance (UL) is combined with long-term care insurance (LTC). Like the PAUL policy, it gives a death benefit to your loved ones and long-term care insurance in case you ever need it. You have the option to link your long-term care benefits to an index or a combination of indices in order to expand your benefits and protect yourself against market downturns.

Does MetLife offer burial insurance?

No. However, your beneficiaries can use the payout to pay for your funeral expenses if you have MetLife term or universal life insurance through your job.

What riders can I add to my policy?

Term life insurance from MetLife includes a free accelerated death benefit. After being diagnosed with a terminal disease, you may be eligible for a part of your death benefit if your life expectancy is 12 months or less. You’re entitled to as much as the entire death benefit of the insurance if you so want.

Additional riders are available on MetLife and Brighthouse Financial plans for people who need them.

  • Accelerated death benefit rider. If you’re diagnosed with a terminal illness, you may be able to get some of your death benefit early.
  • Rider for accidental death insurance. In the event of your death as a result of an accident, this insurance provides an extra death payment.
  • Rider waiving the right to a higher price. If you’re handicapped as a result of a major injury, you don’t have to pay the premium.

MetLife life insurance reviews and complaints

There are just roughly 100 TrustPilot reviews for MetLife as of 2020. However, 72% of them are rated as “poor,” with a TrustScore of 2.2. In addition, over the past year, the firm has failed to reply to any negative Trustpilot evaluations.

MetLife has a B- rating from 96 customer reviews but is not recognized by the Better Business Bureau. That’s not a good grade, especially when you consider that the majority of large insurers get an A. AM Best gives them a financial rating of A+.

JD Power’s 2020 customer satisfaction survey for individual life insurance rated MetLife at 773 out of 1,000 points, placing it 8th overall and 10 points above the average.

You may check out our Ladder Life Insurance Review.

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Levi Jorgensen
Levi Jorgensen is a life-long explorer. When he's not writing about life insurance, he works as an appraiser of antiques. He's based in Columbus, Ohio with his wife and 2 children.
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