Life Insurance
Life insurance gives you the peace of mind you only get from knowing that you've protected your loved ones.
In the event of your passing, life insurance provides money directly to your beneficiaries. They can use the money for whatever they want, such as:
- Make up for your lost income
- Fund your child's education
- Paying off household debt
- Paying for your funeral and other related expenses
In addition, Permanent Life Insurance offers a cash value component which can be put to good use during your lifetime.1
If you want life insurance for a limited time — long enough to meet your anticipated responsibilities to those who depend on you, but not longer — Term Life Insurance may be right for you.
If you value added security, flexibility, cash value and lifetime coverage, some form of Permanent Life Insurance may be right for you.
Term Life Basics- Provides coverage for a specified period
- Easy to understand
- Affordable way to get maximum coverage
- Becomes expensive after the specified period
- You build no equity
Permanent Life Basics
- Protection for your whole life, as long as sufficient premiums are paid
- Can build equity in the form of a cash value
- Offers flexibility and many options to choose from
- Initially higher premiums than Term, but generally more cost-effective in the long run
Term and Permanent Life Together
Don't think that you're limited to one or the other; you may find that a combination of Term and Permanent Life meets your needs best.
For example, the foundation of your life insurance plan could be Permanent Life, supplemented by Term Life during your family-building, mortgage-paying years when coverage needs are typically higher.
Term Life Insurance
Term Life Insurance provides a cost-effective solution for your temporary life insurance needs and gives you the flexibility to change your policy should your temporary needs turn into permanent goals.
Term Life Insurance is right for you if you want:
- An affordable way to get maximum coverage
- To cover specific financial responsibilities like a mortgage or college expenses
- To supplement your Permanent Life Insurance during periods when coverage needs are higher, such as family-growing, mortgage-paying years
Some things to consider about Term Life Insurance:
- There is no cash value accumulation
- Continuing your coverage after the initial level premium-paying term expires can be very expensive
Getting the right coverage starts with knowing how much you need. For most people, our quick and easy Life Insurance Calculator can provide a good estimate:
- Tell us a little about yourself
- Provide some quick info on income, debts and assets
- Get an instant estimate of how much coverage you need
Revisit your coverage if your needs change and talk to a professional about specific concerns like a special needs child.
Whole Life Insurance
Whole Life Insurance is the simplest form of permanent life insurance. It features lifelong protection with guaranteed premiums, death benefit, and cash value.
Whole Life Insurance protects you for your entire life unless you cancel the policy.
Whole Life Insurance can be right for you if you want:
- Fixed premiums that will not increase
- A guaranteed death benefit payout
- Cash value that is guaranteed to grow each year - tax-deferred
- Dividends that can be used to increase the value of the policy
Some things to consider about Whole Life Insurance:
- Premiums are initially more costly than Term Life, but are guaranteed not to increase
- Dividends are not guaranteed
- Loans and withdrawals can reduce the death benefit payout
Your MetLife representative can help you determine whether Whole Life Insurance makes sense for you and your family.
Universal Life Insurance
Universal Life Insurance is a form of permanent life insurance. It can provide affordable guaranteed protection and flexibility.
A Universal Life insurance policy provides flexibility that allows you to change, within limits, the death benefit and the timing and amount of your premium. You can build your policy's cash value, or pay a lower premium and focus more on guaranteed protection.
MetLife's Guarantee Advantage Universal Life insurance can be right for you if you want:
- Protection that can last a lifetime
- The flexibility to choose between two policy designs:
- Protection plus cash accumulation, or
- Focus on affordable guaranteed protection
- An option for a lifetime of guaranteed monthly income for your beneficiaries
Some things to consider about Universal Life Insurance:
- Cash value growth is based on periodically-declared fixed interest rates. Should rates fall, cash accumulation could suffer, and higher premiums may be needed
- Changing your policy's premium or death benefit can affect your policy's performance and guarantees, possibly requiring higher premiums later.
Your MetLife representative can help you determine whether Guarantee Advantage Universal Life insurance makes sense for you and your family.
1 Cash values can be accessed through loans and/or withdrawals, but these will reduce the death benefit. In addition, withdrawals from some policies may be subject to surrender charges and could have a permanent effect on the cash value and the death benefit.
2 MetLife, its agents, and representatives may not give legal or tax advice. Any discussion of taxes herein or related to this document is for general information purposes only and does not purport to be complete or cover every situation. Tax law is subject to interpretation and legislative change. Tax results and the appropriateness of any product for any specific taxpayer may vary depending on the facts and circumstances. You should consult with and rely on your own independent legal and tax advisers regarding your particular set of facts and circumstances.
Like most insurance policies, MetLife's policies contain exclusions, limitations, reductions of benefits and terms for keeping them in force. For complete costs and details, see your MetLife Representative.
Guarantees apply to certain insurance and annuity products (not securities, variable or investment advisory products) and are subject to the insurer's claims-paying ability and financial strength.
Variable insurance products, including variable annuities and variable life insurance, are offered by prospectus only. The prospectus contains information about the product's features, risks, charges and expenses, and the investment objectives, risks and policies of the underlying portfolios, as well as other information about the underlying funding choices. and consider this information carefully before you invest or send money. Product availability and features may vary by state. All product guarantees are based on the claims-paying ability of the issuing insurance company.
The amounts allocated to the variable investment options of your account balance are subject to market fluctuations so that, when withdrawn or annuitized it may be worth more or less than its original value.
Guaranteed Level Term insurance is issued in New York state only by First MetLife Investors Insurance Company, 200 Park Avenue, New York, NY 10166, and in all other states by MetLife Investors USA Insurance Company, 5 Park Plaza, Suite 1900, Irvine, CA 92614 under policy form #5E-21-04, both members of the MetLife family.
Guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.
Pursuant to IRS Circular 230, MetLife is providing you with the following notification: The information contained in this website not intended to (and cannot) be used by anyone to avoid IRS penalties. This website supports the promotion and marketing of insurance products. You should seek advice based on your particular circumstances from an independent tax advisor.
Whole Life insurance is issued by Metropolitan Life Insurance Company on policy form # 8-90 (08), 200 Park Ave., New York, NY 10166.
Guarantee Advantage Universal Life Insurance is issued by Metropolitan Life Insurance Company, New York, NY 10166 in New York State (policy form #1E-34-07-NY) and by MetLife Investors USA Insurance Company, Irvine, CA 92614 in all other states and jurisdictions (policy form #5E-34-07).
Neither MetLife nor its representatives or agents are permitted to give legal or tax advice. Any discussion of legal or tax issues is for general informational purposes only and does not purport to either be complete or cover every situation. Current tax law is subject to interpretation and legislative change. Tax results vary depending on facts and circumstances. You should consult with and rely on your own legal and tax advisors.
Increases in amounts of coverage require you to submit satisfactory health information to MetLife. If funding option performance is poor and you have not maintained target premium payments, your death benefit could decrease depending on the death benefit option chosen, which could leave your beneficiaries inadequately protected or require you to pay additional premium to keep the policy in force.
Variable insurance products, including variable annuities and variable life insurance, are offered by prospectus only. The prospectus contains information about the product's features, risks, charges and expenses, and the investment objectives, risks and policies of the underlying portfolios, as well as other information about the underlying funding choices. Read the prospectus and consider this information carefully before you invest or send money. Product availability and features may vary by state. All product guarantees are based on the claims-paying ability of the issuing insurance company. The amounts allocated to the variable investment options of your account balance are subject to market fluctuations so that, when withdrawn or annuitized it may be worth more or less than its original value.
Equity Advantage Variable Universal Life is issued in all jurisdictions except New York by MetLife Investors USA Insurance Company (MLI), 5 Park Plaza, Suite 1900, Irvine, CA 92614 on policy form 5E-46-06 and in New York only by Metropolitan Life Insurance Company (MLIC), 200 Park Ave., New York, NY 10166 on policy form 1E-46-06-NY-1, and distributed by MetLife Investors Distribution Company (MLIDC)(member FINRA), Irvine, CA 92614. MLI, MLIC and MLIDC are MetLife companies.
Legacy Advantage Survivorship Universal Life is issued by Metropolitan Life Insurance Company New York, NY 10166 in New York State (policy form #1E-32-05-NY) and by MetLife Investors USA Insurance Company, Irvine, CA 92614 in all other states and jurisdictions (policy form #5E-32-05).
