MetLife Life Insurance Review

Written by Ross Quade

Contact Info:

Call: 800-638-5433 Toll-Free

Website: www.metlife.com

Office Headquarters Address:

200 Park Ave

New York, NY 10166

MetLife Inc. stakes a claim as a leading global provider of annuities, life insurance and benefits programs for employees. MetLife has established a leading position in the market, by way of its affiliates and subsidiaries that dominates the insurance arena. This domination has spread not only in the United States of America but also in Latin America, Japan, Asia, the Middle East, Africa, and Europe.

Servicing customers every insurance need in over 50 countries, MetLife has been recognized for its innovative efforts and implications for their role in providing financial protection, protective planning, savings and retirement solutions throughout the world. Worldwide, MetLife offers its customer’s life insurance, accident insurance, health insurance, saving products, and retirement products all through their trusted agents and other third-party distributors such as brokers, direct marketing channels, and banks.

History

MetLife is the holding company of the larger Metropolitan Life Insurance Company. The predecessor company to MetLife was founded in 1863 by a group of determined businesspeople with capital totaling $100,000 that they raised to fund the National Union Life and Limb Insurance Company. This company was originally begun to insure Civil War soldiers and sailors, but in 1868 shifted its focus to life insurance policies and thus became known as the Metropolitan Life Insurance Company.

MetLife has been around now for 140 years, insuring its valued customers. Their goals, as stated, have always been to provide financial protection to those individuals that depend on them. They contribute their success to their extensive history of strong leadership, social responsibility, innovative products, advanced services, and rigorous investments.

In 1916, MetLife underwent a transformation process where it transitioned from a stock driven life insurance company that was maintained by individuals, to a mutual insurance company that now operates without the approval of outside external shareholders. In 2000, MetLife again transitioned its internal structure from a mutual insurance company that functioned solely for the benefits of its members, to a for-profit organization. Existing policyholders did receive some stock options during this conversion process. Today MetLife uses its strong market presence to continue to expand their growth through numerous ventures, acquisitions, and partnerships worldwide.

Positives

MetLife maintains an A+ (or superior) rating as affirmed by A.M. Best, which is a marker of its infallible financial strength (so says A.M. Best). This rating means that MetLife has established a solid financial foundation of which it is beyond capable of meeting its present financial obligations as well as has an inherent capability to pay its members their share of benefits.

MetLife offers its customers a wide array of insurance options including term life insurance, whole life insurance, universal life insurance, and guaranteed life insurance.

MetLife maintains excellent reviews with regards to elderly ill patient underwriting as well as insuring active members of the military. They support the nation, as they prove on their website. For example, after the disastrous terrorist attacks of September 11th they worked as diligently as possible to pay out their benefits to member’s families as quick as humanly possible. Furthermore, they invest over one 1 billion dollars in a variety of publicly traded stocks to reestablish the nation’s confidence in our marketplace.

Negatives

MetLife is not on the top of the list for priciest insurance providers, but it is somewhere up there, and it is certainly not on the bottom, we will say that much. Therefore, if you are shopping for the cheapest life insurance premium, you are not going to find it with MetLife.

Of the abundance of negative consumer reviews, (which let’s face it, with a company as large as MetLife, it must be expected) the most common complaint is that of the company’s customer service initiatives, or should we say lack thereof.

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Ross Quade
Ross Quade has been a licensed insurance agent since 2008. State of Texas license #1702965. He has a Bachelor Degree in Psychology from University of Minnesota and minored in Applied Economics. He has been quoted in several online publications including Huffington Post, Young Startups and various financial blogs. Ross frequently writes about issues related to the insurance and finance industry.
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