What is MetLife Term Life Policy?
MetLife offers term life insurance policies, which provide protection for a specific period of time. The policyholder pays a premium, usually on a monthly basis, and in return, their beneficiaries receive a death benefit payout if the policyholder passes away during the term of the policy.
MetLife's term life insurance policies come with a range of features, including the ability to convert the policy to a permanent life insurance policy, such as whole life insurance, at the end of the term. The policies also offer level premiums, meaning the premium amount stays the same throughout the term of the policy, and the option to add riders for additional coverage and benefits.
Additionally, MetLife's term life insurance policies may be portable, meaning they can be transferred to a new employer or converted to an individual policy if the policyholder leaves their current employer. And depending on the policy, some may have a built-in living benefits provision that allows the policyholder to access a portion of the death benefit if they are diagnosed with a terminal illness.
It's important to note that the specifics of MetLife's term life insurance policies, such as coverage amounts, premiums, and features, may vary depending on the state and employer offering the policy. Therefore, it's best to review the specific policy details before making a decision to purchase a policy.
Overall, MetLife's term life insurance policies can provide a useful financial safety net for individuals and families, offering protection for a specific period of time and the flexibility to convert or transfer the policy if needed.
Frequently Asked Questions about metlife term life policy
MetLife, Inc. is the holding corporation for the Metropolitan Life Insurance Company (MLIC), better known as MetLife, and its affiliates. MetLife is among the largest global providers of insurance, annuities, and employee benefit programs, with 90 million customers in over 60 countries.
Term life insurance guarantees payment of a stated death benefit to the insured's beneficiaries if the insured person dies during the specified term. These policies have no value other than the guaranteed death benefit and don't feature a savings component (as is found in permanent life insurance products).
Life insurance provides money to your designated beneficiary - and can help your loved ones: Replace lost income. Pay household debts, estate taxes and funeral expenses. Cover basic living expenses.
A term life insurance policy is the simplest, purest form of life insurance : You pay a premium for a period of time – typically between 10 and 30 years – and if you die during that time a cash benefit is paid to your family (or anyone else you name as your beneficiary).
MetLife's group life insurance plans are an economical way for you to provide for your family with competitive group rates and a wide range of coverage options to choose from. Exact rates can be found in the enrollment materials.
MetLife is a reputable insurance company that has an A+ (Superior) rating from AM Best, one of the nation's leading insurance-rating organizations, as well as solid scores from S&P and Moody's. The good scores are a reflection of MetLife's financial strength and claims-paying ability.
Term insurance plans offer financial security for the entire family in case of the unfortunate death of the policyholder. Also, you can get optional coverage for critical illnesses or accidental death.
Types of life insurance explained. There are two primary categories of life insurance: term and permanent. Term life insurance lasts for a set timeframe (usually 10 to 30 years), making it a more affordable option, while permanent life insurance lasts your entire lifetime.
MetLife customer satisfaction
MetLife has an above-average score in the 2022 J.D. Power U.S. Individual Life Insurance Study. Remember that MetLife no longer sells individual life insurance policies, so this score reflects its service to the customers who already own individual policies.
Policy Term: Term insurance provides coverage for a specified number of years, known as the policy term. In case of an unfortunate event during this period, your nominee will receive the sum assured in your policy.
A life insurance plan acts as a savior that protects your family against unfortunate events. Term plan is the purest form of life insurance. It not just ensures your family's financial security, but also gives an option to protect them from critical illnesses such as cancer, heart diseases, etc.
MetLife Optional Term Life Insurance Rates
| Age of Insured | Rates for $150,000 Benefit |
|---|
| 25-years-old | $8.70 |
| 35-years-old | $11.70 |
| 45-years-old | $18.30 |
| 55-years-old | $50.40 |
Health-related benefits
Medical services could include doctor visits, hospital stays, preventive care, and medications. Dental and vision benefits may cover routine checkups, eyeglasses, or dental procedures. These benefits provide access to healthcare services and can help you manage the costs.
Metlife has 25.02% upside potential, based on the analysts' average price target. Is MET a Buy, Sell or Hold? Metlife has a conensus rating of Strong Buy which is based on 10 buy ratings, 1 hold ratings and 0 sell ratings. The average price target for Metlife is $77.64.
A major advantage of term insurance is that it is the more affordable option. So if you have a tight budget, it's often better to have the proper amount of life insurance coverage versus overthinking how much should be term or permanent coverage.
Simplicity. For many people, term life insurance is a simple, affordable way to safeguard the financial health of loved ones if something happens to them. It offers pure insurance. In comparison, with whole life insurance and other permanent policies, a portion of your premium goes towards building a cash value.
