Last Updated: April 2020
In 2016, MetLife stopped offering individual life insurance policies, moving those to a company called Brighthouse Financial. Today, MetLife still offers life insurance through employee benefits programs.
In this article, we will review MetLife Life Insurance and information on Brighthouse as well.
Below, you will learn about MetLife’s life insurance, financial ratings, no exam options, and a list of other companies for comparison.
After helping 100’s of people purchase Metlife life insurance policies, this is our review.
- About MetLife Life Insurance
- MetLife Life Insurance Financial Ratings
- Review of Life Insurance Policies from MetLife & Brighthouse
- How MetLife’s Transition Affects Your Life Insurance Policy
- Compare MetLife Life Insurance to Other Carriers
Life Insurance is Boring. Let’s Get To The Root Of It! Here are the key takeaways…
MetLife offers both term and permanent life insurance through employers. In 2016, its individual life insurance policies were moved to Brighthouse Financial, which still sells policies today. MetLife has an “A+” (superior) from A.M. Best, and Brighthouse has an “A” (excellent).
About MetLife Life Insurance
Over 140 years after opening its doors, MetLife continues to be a worldwide leader in life insurance, annuities, and employee benefits programs.
MetLife insurance started selling policies on March 24, 1868. What began as a company serving the citizens of New York State has now grown into a global provider of insurance serving 90 million customers in over 50 countries.
In 1879, MetLife recognized a need for “industrial” or “workingmen’s” insurance and became the first insurance company in the United States to provide coverage to these individuals and their families. Today, MetLife Insurance continues to hold a strong position in the insurance industry by focusing on innovation, social responsibility, integrity, financial strength, and leadership.
As of 2016, MetLife’s individual life insurance branch separated and is now called Brighthouse Financial. MetLife now only sells life insurance through employers.
Brighthouse has over 2 million customers and $227 billion in assets under management, making it one of the biggest annuity and life insurance companies in the US.
MetLife Life Insurance Financial Ratings
MetLife Life Insurance is positioned as one of the best in the business in terms of financial ratings.
Here are the ratings for MetLife Life Insurance:
- Metlife’s A.M. Best: “A+” (superior) rating
note: Brighthouse has an “A” (excellent) rating - Affordability Index: 9.0
- Ease of Applying: 8.8
- Customer Service: 9.5
- COMDEX Ranking: N/A
A.M. Best is the industry benchmark for financial strength in the life insurance industry. The other three metrics are based on a number of factors including our industry knowledge of MetLife compared with other companies. The COMDEX ranking is a composite score that considers A.M. Best and other top ratings agencies.
Learn more about our process for reviewing life insurance companies here.
Review of Life Insurance Policies from MetLife & Brighthouse
MetLife only offers life insurance through employee benefit programs. However, you can still get individual policies through Brighthouse Financial.
MetLife Life Insurance Review for Employers
MetLife offers both term and permanent life insurance to companies that have employee benefits.
They offer several different types of term life insurance, including:
- Basic: the company pays for term life insurance that covers the employee.
- Supplemental: the employee pays for additional coverage based on their needs.
- Dependent: coverage for a spouse or kids.
It is up to your workplace what type you will have available.
For permanent life insurance, MetLife offers employers group universal life insurance and group variable universal life insurance.
Speak with your employer to find out if it’s available to you.
Individual Term Life Insurance Review (from Brighthouse)
Brighthouse offers great individual term life insurance for its simple application process and quick decisions. Before we show you about their no-medical exam options, here are some policy features for their term life insurance:
- 10, 20, & 30 year terms available
- Level premiums
- Face amount: $50,000 to $10 million available (depending on your health class)
- Accelerated death benefit rider available
- Flexible payment options – monthly, quarterly, semi-annually, or annually
One of the best features of the SimplySelect term policy is its very simple application process. You just have to answer a health questionnaire, and their underwriting begins. Healthy applicants can get a decision in under 24 hours.
You also have the option to convert to a whole life policy at the end of the term.
Keep in mind that this type of no medical exam life insurance, although much more convenient, is often more expensive than traditional life insurance with full underwriting.
They also offer a One Year Term policy for individuals who only need coverage for a brief period.
Other Life Insurance Products from Brighthouse
Brighthouse also offers a hybrid product called SmartCare. It includes both indexed universal life insurance and long term care insurance. This type of life insurance allows you to grow cash value with the market but does come with risks.
Before you purchase life insurance, we recommend reviewing other companies as well, such as Minnesota Life Insurance, Zander Insurance, Primerica Life Insurance, and United Home.
How MetLife’s Transition to Brighthouse Affects Your Life Insurance Policy
If you have an individual MetLife policy that was purchase before their transition to Brighthouse, your policy is still in force.
You can file a claim, or make changes to your policy through Brighthouse Financial.
Alternatively, you can review your existing coverage and premium rates, then compare it with other top companies using our quote tool. You may find a better policy with lower rates to replace your old MetLife policy.
Compare MetLife Life Insurance to Other Carriers
The best way to shop for life insurance is to first decide what type of coverage you need. Then compare multiple top life insurance companies who offer what you’re looking for.
We have also reviewed over 50 life insurance carriers and agencies to help you compare rates and find the right company for your specific needs.
MetLife life insurance, through your employer, and Brighthouse Financial both have great policies, however, using our quote tool or reviewing more companies below could save you thousands of dollars over the lifetime of your policy.
Here are some other life insurance companies to consider along with MetLife.
