MetLife group life insurance review 2021
Enjoy unique benefits through your employer and automatic paycheck deductions.
finder.com's rating: 2.5 / 5
- Get MetLife if… You like the ease of having your premium deducted from your paycheck.
- Pick something else if… You’re looking for insurance independent of your employer.
21 to 85
$50,000 to $100,000+
Medical Exam Required
|Term lengths||10, 15, 20 or 30 years|
|Medical exam required||No|
|Available states||All 50 states|
|Issue age||Not listed|
- Simple application process
- Group rate
- Low rates for even those with health concerns
- Phone interview is necessary
- High rates for those with good health
- Rider selection limited
Accelerated death benefit rider
Accidental death benefit rider
Katia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).
MetLife life insurance policies are only available through the workplace. If your employer offers policies as part of your benefits program, it’s worth exploring this option. The rates are competitive, the application is simple, and MetLife also caters to high-risk applicants like seniors and smokers. But if you’re in excellent health, you could find a cheaper rate elsewhere.
If you’re looking for an individual life insurance policy that can be customized for you, compare other life insurance providers.
MetLife group life insurance rates
MetLife’s cost structure is not available online, but they do consider the following when determining the cost of life insurance:
- Age, sex, height and weight.
- Health status, including whether or not you smoke.
- Participation in high-risk occupations.
- As you age, life insurance becomes more expensive. The type of coverage also affects the cost. Permanent policies are typically more expensive, while the cost of term policies tend to be lower.
- To get an idea of how much you might pay for your policy, check out some sample quotes below for a policy with a term of 20 years for an individual in perfect health.
What affects my rate with MetLife?
There’s coverage available for everyone ages 18 to 85, depending on your health status. Though, to get the best possible rate it helps to be in good health. Here are some of the key factors that will influence your rate:
- Age. The younger you are, the less likely you are to file a claim, thus the lower your premium will generally be.
- Drinking or smoking. Whether you have a history of substance abuse or have smoked cigarettes in recent years will have an impact on your rate.
- Family health history. If you have a history of cancer or other qualifiable illnesses, you’ll likely be seen as more of a risk to insurance companies.
- Driving record. A history of DUIs will usually mean a higher premium, as you’re considered more of a risk.
- Occupation and lifestyle. Those with high-risk occupations, like pilots, or individuals who have adventurous hobbies like scuba diving or hang gliding are likely to see a higher premium for added risk to the insurer.
However, MetLife has been known to offer competitive rates for those with:
- Type 1 or Type 2 diabetes
- Seniors with high blood pressure
- Active military personnel
Speak with a MetLife or Brighthouse Financial agent to learn more about how you can qualify for the lowest rates you’re eligible for.
How to get a quote from MetLife life insurance
You must sign up for life insurance with MetLife through your employer. Contact your HR representative to see if MetLife is available to you. Or you could consider Brighthouse Financial, an insurer established by MetLife that allows individuals to sign up through a financial professional.
What types of life insurance coverage does MetLife offer?
MetLife focuses on delivering benefits through your employer. Check with your employer’s benefits administrator to see if it offers MetLife.
Standard policies offered by MetLife through the workplace include:
- Term life. Affordable coverage offers guaranteed protection for 10, 15, 20 or 30 years. Basic, supplemental and dependent term life policies may be offered through your employer.
- Permanent life. These flexible plans allow for permanent coverage with flexible payments based on your accrued account value. Benefits include tax-deferred accumulation and income to use during retirement.
Does MetLife offer individual life insurance?
No, but if you’re looking to find life insurance outside your workplace, MetLife’s spinoff company, Brighthouse Financial, now carries all the life insurance policies MetLife has been long known for:
- Guaranteed level term. Available for ages 18 to 75, the policy is level and coverage stays the same until the term ends. It’s available in 10, 15, 20 or 30 year terms. This is an affordable option for those looking for temporary coverage. A conversion option is available by the end of the term or age 70. You get to keep your same health rating, even if your health has changed. The policy offers disability waiver of premium and acceleration of death benefit riders.
- Universal life. The Premiere Accumulator Universal Life policy protects your death benefit. It’s different from normal whole life because it allows you to have greater control over how the policy’s cash value accumulation is invested.Use the cash value to provide yourself supplemental income in retirement. Your policy and the accumulated cash value is tax-free.In addition to the cash value accumulation, it offers three riders: acceleration of death benefit, waiver of specified premium and chronic and terminal care riders.
- Hybrid life insurance. This hybrid policy is a combination of indexed universal life insurance and a long-term care (LTC) policy. It provides a death benefit to your loved ones, just like its PAUL policy, and offers you long-term care coverage should you need it. With this policy, you can elect to link it to an index or indices in order to potentially grow your LTC benefits and protect yourself against downturns in the market.
Does MetLife offer burial insurance?
No. MetLife only offers term and universal life insurance policies through the workplace — though your beneficiaries can use the payout to cover your funeral costs.
What riders can I add to my policy?
MetLife’s term life policy offers an accelerated death benefit at no additional cost. With this, you can receive a portion of your death benefit if you’ve been diagnosed with a terminal illness and have 12 months or less to live. You can claim up to 100% of the policy’s death benefit.
For those seeking additional coverage, MetLife and Brighthouse Financial policies have the opportunity to add additional riders.
- Accelerated death benefit rider. Access a portion of your death benefit ahead of schedule if you’re diagnosed as terminally ill.
- Accidental death benefit rider. Pays an additional death benefit on top of your policy if you die in an accident.
- Waiver-of-premium rider. You’re not required to pay the premium if you’re disabled because of a serious injury.
MetLife life insurance reviews and complaints
MetLife doesn’t have many reviews on TrustPilot — only about 100 as of 2020. But 72% of them fall into the “bad” category, with a TrustScore of 2.2 out of 5. The company also hasn’t responded to negative reviews on Trustpilot for the last 12 months.
MetLife isn’t accredited on BBB and scores a B- rating, with 1.27 stars out of 5 from 96 customer reviews. That’s not a good score, considering most major insurers score at least an A-.
MetLife scored 773 out of 1,000 points on JD Power’s 2020 customer satisfaction report for individual life insurance, putting it in 8th place and 10 points above the average score.
|AM Best financial rating||
1.17/5 out of 93 customer reviews
|Trustpilot score||2.2/5 out of 115 customer reviews|
|JD Power score||773|
|Customer reviews verified as of||22 January 2021|
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