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MetLife Life Insurance Reviews

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  • Pros
  • Coverage amounts starting at $5,000
  • Coverage up to age 90
  • Online policy management
  • Level term life insurance for coverage amounts $10,000+
  • Phone, email, and online quote tool
  • Cons
  • No medical exam for coverage under $100,000
  • Limited payment options

MetLife Life Insurance

Best Value Award 2016

Operating in 60+ countries and with over 90 million customers, MetLife is one of the world's largest providers of insurance programs as well as annuities. Founded in the late 1860s, MetLife later reformatted itself for the benefit of its policyholders through a process known as mutualization. In 2000, MetLife made the decision to go public and now serves roughly 90 of the top Fortune 500 companies. Although this specific review covers only term life insurance, MetLife also scores high for their whole life, universal life, and survivorship insurance policies so if you find that term life insurance doesn't suit your needs, consider this provider's other offerings.

Metlife Life Insurance Policy Offerings/Perks

MetLife's term life insurance has coverage starting at $5,000 and maxing out at multiple millions. In relation to other comparable service providers, MetLife has the most affordable premiums for individuals of all backgrounds including families, smokers, and the elderly up to age 90. Select a coverage amount for a term of 10, 15, 20, or 30 years.

In addition, there are different term life insurance options available for you. Here's a closer look at each and how they can offer practical benefits:

  • Simplified Issue Term Life Insurance: This is where you can buy life insurance for up to $100,000 via online or the phone with no medical exam. In most cases, MetLife will render a decision on your application in 24 hours; this is beneficial because it's a convenient way for you to financially protect your family from the comfort of your home.
  • Level Term Life Insurance: If you require coverage amounts of $100,000 or greater, this is a great option to consider. Not only will you receive expert guidance from a MetLife professional, once you buy the policy, you won't have to worry about its premiums increasing during the duration of the term, meaning you will pay the same price from the first premium payment to your last.
  • One-Year Term Life Insurance: If you want a short term solution, this might be a great option. You can consult with a MetLife insurance professional to learn more about this coverage, or, if you already have it, you can speak with them to add the Convertible and Renewable Options Rider. With this, you increase your coverage from one to five years. Though your premiums will increase under this option, you also have a longer period of financial protection as well.

Moreover, you have the option to cover specific financial responsibilities like your mortgage expenses or children's college expenses. This is a great supplemental for anyone interested in getting a little extra aid. MetLife's agents are friendly and can be reached by phone or at an office in your area. That's also when you can receive an instant quote for your coverage premium.

Applying with MetLife Life Insurance

MetLife makes it simple for you to apply by either visiting its website, calling to speak with a licensed insurance representative or visiting one of its many nationwide offices, where an independent agent can assist you. For simple policies, you can complete everything online and in some instances have coverage the same day. If you require more coverage _over $100,000- you will have to do a medical exam as part of the underwriting process. This will lengthen the time before you will receive coverage, but, given the higher coverage amounts, it is well worth the wait.

Benefits of MetLife Term Life Insurance

MetLife offers some of the most flexible coverage amounts available. You can have a policy with as little as $5,000 coverage all the way up to millions of dollars. This makes its policies perfect for every budget and financial need.

Moreover, MetLife offers intuitive web tools that make buying insurance and managing your existing policy easier. With its easy-to-use website and mobile application, you can access all your policies on the go, fill out a quote for a new policy, or have quick access to an insurance professional, who can assist you.

Lastly, MetLife offers coverage for most ages. For example, you can have life insurance with them up to the age of 90 whereas with other providers, like AIG Direct, they cap it at 70.

Drawbacks of MetLife Life Insurance

From reading customer reviews on its website, one reoccurring problem that came up occasionally was the application process, particularly for the more comprehensive coverage amounts – more than $100,000. People noted how long it took to complete everything and that every time they spoke with MetLife, the communication on MetLife's end was inconsistent. A good solution to this would be to receive the direct line of the person you started the application with, that way you have the same person throughout the process.

Educational Tools and Resources with MetLife Life Insurance

MetLife has a ton of useful resources such as articles on life insurance, a calculator to help you determine how much insurance you need and a contact form, where a MetLife representative can contact you for assistance on its website.

Customer Service with MetLife Life Insurance

MetLife makes is easy to contact them with email, phone and in office options. It also provides an FAQ section so you can have access to answers for common questions. As noted above, there does seem to be some inconsistencies in communication, so it's best to stick with the same rep –if you can- for the duration of the application process.

Verdict - Superb

Additional services included with MetLife include retirement planning, estate planning, annuities, managed accounts, long term care, small business insurance, and group insurance. One significant drawback with this provider is that they don't require a medical exam for coverage amounts below $100,000.

While MetLife may boast this as a plus, it's really not in your best interest if you are in good health and have a low mortality risk because the liability will be reflected in your policy premium. The other drawback worth noting is that they have limited payment options (only by mail or bank transfer) which could prove inconvenient for some individuals. Overall, its flexible policies and educational resources make it a great insurance provider for you to consider.

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MetLife Life Insurance Consumer Reviews

Average Customer Rating

7 out of 10 rating 7 2 User Reviews

User Rating Distribution

Ratings: 10 - 9 0
Ratings: 8 - 7 2
Ratings: 6 - 5 0
Ratings: 4 - 3 0
Ratings: 2 - 1 0
7 out of 10 rating 7 Knowledgable agents Price increases

I wasn't sure about MetLife when I first called to set up my life insurance, but the agents soon put me at ease and were very helpful and explained the whole process to me. The only problem I've found after being with them for over a year is that the cost went up after my first year.

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8 out of 10 rating 8 Always someone available None

Whenever I need to speak to someone there is always someone available and the one time I had to put a claim in they were friendly and processed the claim very quickly and kept me updated.

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Advertiser Disclosure

In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.

Advertiser Disclosure

In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.