Insurance metlife is a term insurance product offered by MetLife that helps protect your family’s financial stability. It pays a death benefit to your beneficiaries when you die within the specified period of time, typically 10 to 30 years.
Like most group accident and health insurance policies, MetLife’s benefits programs contain certain exclusions, exceptions, waiting periods, reductions, limitations, and terms for keeping them in force. Please discuss these details with your MetLife representative.
Term life insurance
MetLife is an insurance company based in New York City that offers a variety of life, health and annuity products. It also provides workplace coverage for businesses.
MetLife offers several types of term life insurance. You can get a policy from your employer, or you can buy an individual one online.
Term life policies pay out a lump-sum death benefit if you die during the policy’s term. Those benefits help you provide for your family after you pass away.
Term life policies come in different levels of coverage and premiums, and you can convert them to permanent life insurance later on. You can also choose an accelerated death benefit rider, which allows you to receive a portion of your policy’s death benefit if you are diagnosed with a terminal illness.
Permanent life insurance
If you want to leave your loved ones a financial legacy, you may be interested in a permanent life insurance policy from MetLife. These types of policies pay dividends out over the years and accumulate cash value that can be accessed when you need it, such as in retirement.
The company offers several different kinds of permanent life policies, including whole life and universal life. While they’re not as popular as term life insurance, they can be a good option for people who want to build up a cash reserve.
These policies are usually more expensive than term life insurance, but they have some advantages. For example, whole life policies can build cash value, which grows tax-deferred. And a cash-value policy doesn’t require as many medical exams, which can be a plus for older adults.
Universal life insurance
Universal life insurance, also known as UL, is a permanent life policy that offers coverage for your entire lifetime. Its main benefits include flexible premium payments and the ability to build cash value.
However, universal life insurance has some limitations and risks that should be considered before purchasing one. Unlike term or whole life policies, there are many more variables to consider with universal life.
For example, you need to determine how much of your premiums you want to spend on cash value growth. This can affect your future death benefit, which can result in a higher premium. Plus, the underlying cost of insurance increases as you age. This can deplete your cash value account, which may cause the policy to lapse.
Disability insurance is a type of insurance coverage that pays some of your income in the event you are unable to work due to an accident, illness or injury. It can cover a short-term period or a long-term period, and it can be provided by employers or purchased on your own.
Prudent people know that accidents can happen, and they take steps to protect their finances in the event a disabling life event occurs. That’s why disability insurance is important: if you can’t work, it can provide a source of income.
MetLife offers both short-term and long-term disability policies. The short-term policy provides benefits for a specific period of time, usually three months to a year or longer. The long-term policy typically begins after the short-term benefit ends and can last for the rest of your lifetime.
Critical illness insurance
Whether it’s cancer, heart attack or stroke, serious illnesses can be devastating. They can also take a toll on your finances.
A critical illness plan is designed to offset some of those costs. This type of insurance can help you pay your health insurance deductible or copayments, cover mortgage payments and even groceries while you’re sick.
MetLife offers an individual critical illness policy for benefits-eligible employees and their families that pays a lump sum benefit after the initial diagnosis of a covered critical illness. Employees choose from three coverage options: $10,000, $20,000 or $30,000.