Everyone knows Met Life, or Metropolitan Life, with Snoopy as their mascot and considering they’ve been in business for over 150 years.
As of 3/6/2017, Met Life has changed their name to Brighthouse Life Insurance Company for all of their individual life insurance business.
It may be too soon to know yet, but as far as we know they will still be a great company that can have some really awesome rates and products for some people.
So in what niche is Met Life/Brighthouse Life competitive?
If you smoke marijuana and need life insurance, then you have to get a quote from Met Life as they have some extremely liberal guidelines for pot smokers!
If you’ve had a positive alcohol marker or CDT (carbohydrate-deficient transferrin), which is a test that insurance companies use to determine if you are abusing alcohol, then Met Life should always be considered as they tend to be more liberal than most other companies when there’s a positive alcohol marker.
Met Life should always be considered for low stage or in situ cancer with treatment ending more than 5 years ago. This is especially the case for colon cancer, breast cancer, kidney cancer, melanoma, uterine cancer, testicular cancer and thyroid cancer.
If you’re any type of commercial or private pilot, Met Life could make you the best offer for life insurance.
Met Life has a fairly liberal height/weight chart, so they should at least be considered for people who are overweight.
While they my not show up as having the absolute best term life insurance rates at your age, they can be very competitive for term insurance if you may fall into one of their niche’s.
Met Life Whole Life Insurance
Met Life can really shine in the whole life insurance market with some of the best rates in the industry.
Below are some of Met Life’s Living Promise Whole Life monthly rates at various ages for male and female non-smokers in excellent health. These are the best rate class, Elite Non-Smoker, that Met Life offers. I’m also showing you the projected cash surrender value at age 65:
Male Monthly Cost Cash Value @ 65
Age 30 $195 $148,272
Age 35 $230 $131,427
Age 40 $282.50 $115,811
Age 45 $342.50 $95,964
Age 50 $422.50 $74,376
Female Monthly Cost Cash Value @ 65
Age 30 $170 $126,836
Age 35 $202.50 $114,058
Age 40 $250 $101,997
Age 45 $305 $83,718
Age 50 $372.50 $64,460
Met Life also has a program called ERP (Enhanced Rate Plus) for which people ages 20 to 60 may be able to qualify for Met’s best rate class without having any insurance exam and with a possible offer within 1 week of submitting an app. Even people who are not in excellent health may be able to qualify for Met’s best rate class under this ERP program.
The ERP program is only available for Met Life Promise Whole Life Select 10 product which is a 10 pay whole life policy or a Met Life Premier Accumulator Universal Life policy from $100,000 to $1,000,000.
Bottom Line on Met Life
While their life insurance division is apparently changing their name to Brighthouse Financial in the near future, we suspect they’ll continue to have a niche or two in the life insurance industry regardless of what their name is.
If you’d like a Met Life or Brighthouse Financial insurance quote, please feel free to call us at 1-800-380-3533, email us by clicking here or simply click on the quote request link above and take 3 minutes to complete the information and we will email you Met Life’s best quote along with the best quotes from other insurance companies that may be better for you.