What is MetLife Final Expense Whole Life Insurance?
MetLife Final Expense Whole Life Insurance is a type of life insurance policy that is specifically designed to cover the costs associated with end-of-life expenses and funeral arrangements. This policy is meant to help ease the financial burden on loved ones during a difficult time and provide peace of mind for policyholders.
Final Expense policies are typically smaller in coverage amounts than traditional term or permanent life policies, with coverage amounts ranging from $2,000 to $50,000. Additionally, Final Expense policies do not require a medical exam, making them an accessible option for seniors or individuals with pre-existing conditions.
MetLife Final Expense Whole Life Insurance offers a guaranteed death benefit, which means that the policy will pay out a set amount of money to the beneficiaries upon the policyholder's death. The policy also accumulates a cash value over time, which can be borrowed against or used to pay premiums.
One of the main benefits of MetLife's Final Expense Whole Life Insurance is that the policy premiums are guaranteed to remain the same throughout the life of the policy, regardless of any changes in the policyholder's health or age. This means that policyholders can have the peace of mind of knowing their premiums will not increase and their policy will not expire as long as they continue to pay their premiums.
Overall, MetLife Final Expense Whole Life Insurance is an affordable and accessible option for individuals looking to financially prepare for end-of-life expenses and ensure that their loved ones are taken care of after their passing.
Frequently Asked Questions about metlife final expense whole life insurance
Life can be unexpected. That's why we offer benefits to protect and support you no matter where life leads you. From accident and health to legal, pet, dental, and vision insurance - we've got you covered.
You may have questions about your Whole Life policy, and we want to help you get the answers you need. If the information below doesn't address your questions, or if you need additional help, please contact us.
In the event of your passing, life insurance provides money directly to the individuals you select - your beneficiaries - who can use the money as they see fit, including: Replacing lost income. Covering basic living expenses. Paying household debts, estate taxes, and funeral expenses.
Whole life insurance guarantees payment of a death benefit to beneficiaries in exchange for level, regularly-due premium payments. The policy includes a savings portion, called the “cash value,” alongside the death benefit.
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.
MetLife in Focus
Looking at dividend growth, the company's current annualized dividend of $2.08 is up 5.1% from last year. Over the last 5 years, MetLife has increased its dividend 5 times on a year-over-year basis for an average annual increase of 4.44%.
Whole life insurance has several variations, including limited payment, modified, single-premium, and variable whole life. Different types offer alternative payment options or investment methods.
Each beneficiary needs to submit a claim form in order to get paid. We'll pay each beneficiary their proceeds separately as we receive the required claim documents from each of them. We don't require all beneficiaries to make a claim before making payment to each individual.
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 |
Whole life insurance has several variations, including limited payment, modified, single-premium, and variable whole life.
3. Whole life insurance offers
- Level premiums - The premiums you pay remain the same for the life of your policy, regardless of your age or health.
- Death benefits - Your beneficiaries receive the face amount of the policy upon your death.
- Cash value - Your cash value will grow each year, tax-deferred.
Solid Investment Performance: In Fitch's view, MetLife's investment portfolio has above-average risk, driven primarily by higher allocations to below-investment-grade fixed-income securities and alternative investments.
Third-Party Ratings
MetLife ranked 14th out of 21 insurers in the J.D. Power 2022 U.S. Individual Life Insurance Study, with a score of 786 out of 1,000.
MetLife's current payout ratio is 33%, meaning it paid out 33% of its trailing 12-month EPS as dividend. Looking at this fiscal year, MET expects solid earnings growth. The Zacks Consensus Estimate for 2023 is $7.75 per share, which represents a year-over-year growth rate of 13.14%.
Stocks . USA . Considering the 90-day investment horizon and your conservative attitude towards risk, our recommendation regarding MetLife is 'Strong Buy'.
Whole or ordinary life
This is the most common type of permanent insurance policy. It offers a death benefit along with a savings account. If you pick this type of life insurance policy, you are agreeing to pay a certain amount in premiums on a regular basis for a specific death benefit.
