MetLife is the largest life insurance company in the U.S. and is one of the oldest insurance companies in the nation. But does that make it the best?
In this MetLife life insurance review, we detail MetLife life insurance policies, pricing, financial ratings, customer satisfaction reviews and more.
If you’re ready to compare your life insurance options, call to chat with a licensed insurance agent today and get free quotes for the life insurance policies available where you live.
Metropolitan Life Insurance Company has roots dating back to 1868 and is headquartered in New York City. MetLife is licensed to sell life insurance in all 50 states, and the company’s reach extends to more than 40 countries around the world.
Many MetLife products aren’t available for individual purchase and are only accessible through workplace providers, such as employers or unions.
MetLife sells term life, whole life and accidental death insurance. Whole life options include both universal and variable universal policies.
MetLife term life insurance policies include Basic Term, Supplemental Term and Dependent Term.
A MetLife Basic Term policy may be converted to permanent coverage at the end of its term.
MetLife offers several types of whole life insurance policies that provide permanent protection and cash value accumulation, all of which are branded under the name MetLife Promise Whole Life Select.
MetLife Group Universal Life insurance policies combine lifelong protection with tax-advantaged savings options.
MetLife offers Group Variable Universal Life policies that provide permanent coverage and the ability to choose how your cash value is invested.
MetLife offers an accidental death and dismemberment plan that protects employees, their spouses and their children in the event of an accidental death or injury.
Riders are a way of supplementing or customizing a life insurance plan to add coverage for certain circumstances or give policyholders more options. MetLife has six optional and available riders.
Because MetLife life insurance policies are available primarily through an employer, it’s difficult to gauge how much you might expect to pay. As an employee benefit, your MetLife insurance rates will depend largely on the number of workers participating in the group plan and the cost-sharing breakdown between you and your employer.
Your age, gender, health and smoking status will likely affect your rates.
MetLife receives a lower than average number of customer complaints, as reported by the National Association of Insurance Commissioners’ Complaint Index Report. MetLife has a D- rating from the Better Business Bureau, though this low grade is based on a small sample size of reviews.
MetLife does maintain a Consumer Affairs rating of 3.5 stars out of five, which is considered strong relative to the tough Consumer Affairs rating scale.
In terms of overall customer satisfaction, J.D. Power’s 2021 U.S. Individual Life Insurance Study ranks MetLife 14th out of 21 life insurance companies, slightly below the industry average.
Current MetLife individual life insurance policy members can call the MetLife customer service phone number at 1-800-638-5000 for help with their policy.
Current policyholders can also log in to their online.metlife.com MetLife member account to manage their services. You can use MetOnline servicing with your account to do things like:
You can also find helpful important forms, such as a change of beneficiary form. Beneficiaries can also search for a life insurance policy, start a life insurance claim and check on claim status.
According to MetLife, the company will review your claim within five days of being submitted and will pay out the death benefits within five days after approval. This timeline is slightly faster than the industry standard.
MetLife boasts strong financial ratings and reviews from the leading credit rating agencies: 1
MetLife offers a nice diversity of life insurance products and carries strong financial ratings. However, the company’s customer satisfaction has room for improvement, and MetLife’s life insurance products are typically only available through a workplace and not for individual purchase.
You call to chat with a licensed insurance agent to explore life insurance options available where you live, including life insurance policies from different companies, so that you can find the right policy length, amount and coverage for your needs.