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Everything you should know about Brighthouse life insurance

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Plans cater to a large audience with substantial coverage and flexibility at some of the most competitive rates on the market.

  • Minimum amount available. $1 million
  • Terms available. 1, 10, 15, 20 and 30 years
  • Payment methods.
  • Medical exam required.
  • Temporary underwriting coverage.

Originally established by MetLife, the now independent Brighthouse Financial seeks to help you build a brighter future for your family through transparent life insurance policies that are easy to apply for.

Its straightforward site is designed to allow you to easily compare and tweak coverage options to meet your specific needs.

Learn more about this new insurer’s lineup of life insurance products and how it might get you covered at affordable rates.

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What is Brighthouse known for?

Brighthouse Financial was founded by heavy-hitter MetLife in January 2016 as an auxiliary company offering annuity and life insurance products. In 2017, it was spun off as the independent Brighthouse.

Today, Brighthouse reports more than 2 million life insurance policies and annuities in force and more than $220 billion in assets.

Prior to spinning off from its parent company, MetLife, Brighthouse was known for its big-name backing. It was originally created by MetLife to take over individual life insurance business.

Pros and cons

Overall, Brighthouse is a reputable insurance provider offering competitive pricing on multiple policy options. But whole life is available as a rider only, among other potential drawbacks.

Pros

  • Financial stability. Brighthouse is highly rated by all credit agencies for its ability to fulfill its debt obligations.
  • Competitive, comprehensive rates. Plans cater to a large audience with substantial coverage and flexibility at an affordable rate.
  • Few surrender fees. Brighthouse is among the few providers that allow you to surrender your policy without fees if you need access to cash.

Cons

  • Not a lot of options. Many large providers offer a wider variety of insurance policies. Brighthouse offers term and universal policies only.
  • Few riders available. It covers the basics, but Brighthouse doesn’t offer the long list of riders you might find elsewhere.
  • Slow application process. A lengthy application requires work with a Brighthouse advisor. And you might even need a phone interview after you’ve applied, further slowing the process.

What life insurance coverage does Brighthouse offer?

Brighthouse’s site gets straight to the point, clearly outlining the benefits of its term and universal policies. Though Brighthouse doesn’t offer whole life, you can opt to convert your term life policy with two to five years.

Brighthouse’s Guaranteed Level Term is its most affordable plan, providing coverage for 1, 10, 15, 20 and 30 years at level premiums that won’t increase for the duration of your term.Coverage starts at a high $1 million, but you can customize your plan with riders and the option to borrow from your policy’s cash value.

Available riders
  • Disability waiver of premium. Waives policy premiums if you’re fully disabled for six months or more.
  • Acceleration of death benefit. Fully or partially pays out your policy if you fall terminally ill with a life expectancy of up to 12 to 24 months, depending on where you live.
  • Convertible and renewable options. Gives you the option to renew your one-year policy for up to five years with increasing premiums. Or convert to whole life between two and five years.
Brighthouse Premier Accumulator Universal Life (PAUL) is a permanent policy featuring flexibility, cash growth and a long list of riders. The policy provides interest credits that help you accumulate cash value, and you won’t pay taxes on your money as it accumulates. With the right planning, neither will your beneficiaries.Access your cash value with no surrender charges to pay for the unexpected expenses, should you need to allocate your money elsewhere.

Available riders</5>
  • Chronic and terminal care. Get some of your death benefits early if you’re diagnosed with a chronic or terminal illness. Rather than a monthly charge, you pay a $250 fee each time you access your money. (Not available in California, Florida or New York.)
  • Waiver of specified premium. Pay a reduced, predetermined premium if you become fully disabled.
  • Acceleration of death benefit. Fully or partially pays out your policy if you fall terminally ill with a life expectancy of up to 12 to 24 months, depending on where you live.

How do I file a life insurance claim with Brighthouse?

Filing for a claim with Brighthouse begins on its site.

1. Visit Brighthouse’s site and click Support.
Brighthouse life insurance screenshot 1 2. Click Policy Service and Claims.
Brighthouse life insurance screenshot 3 3. Scroll to Life Insurance, and click Individual death claim form to download the claims PDF.
Brighthouse life insurance screenshot 2

From there, Brighthouse walks you through the process of completing your claim, detailing the required information and how to submit your documentation.

What other services does Brighthouse offer?

Brighthouse specializes in annuity and life insurance products, making for a limited product lineup.

When planning for retirement, annuity options include:

  • Index-linked annuities
  • Fixed annuities
  • Variable annuities
  • Income annuities

What do customers say about this brand?

Brighthouse is not accredited with the Better Business Bureau, and it earns a low B- rating based on BBB’s independent criteria. But A.M. Best rewards Brighthouse with an excellent A rating for financial strength.

Online, you’ll find a mixed bag of customer feedback. On the bright side, many customers report having no problems with their insurance. Others mention issues with communication, customer service and difficulty obtaining death benefit payouts.

Brighthouse financial stability and credit ratings

Brighthouse gets good ratings for financial stability and credit. A.M. Best is the most relevant credit ratings agency in the insurance industry, rating companies for decades. Brighthouse was recently awarded an A rating, or “excellent,” referring to its ability to fulfill debt obligations. A.M. Best uses a 16-level rating system for financial stability, and Brighthouse ranks third.


Bottom line

Brighthouse is a reputable choice for life insurance if you’re looking for term or universal coverage. Prices are competitive, plans are comprehensive and the institution itself is financially stable.

But you could find more flexibility with another company. Compare your life insurance options against your eligibility to find a policy that meets you and your family’s specific needs.

Compare life insurance policies today

Enter your ZIP code below and click Compare now
to see providers in your area.

Your information is secure.

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