The Metropolitan Life Insurance Company, or MetLife for short, is one of the largest providers of life insurance, annuities, and benefit programs in the world. They currently provide almost 100 million people in 60+ countries with services. With more than 150 years of industry experience, it is a company that is built on strong leadership and stronger insurance products. The term life insurance products that are offered by MetLife fit into 3 generic categories.
• Basic. This type of life insurance coverage is provided for a specific period and covers essential financial needs to the policy holder’s beneficiaries.
• Supplemental. This term life coverage goes beyond the basic needs that a beneficiary may have. It is something that can be added as a rider to a basic plan and changed as the needs of individuals or families change over a policy’s term.
• Dependent. This type of coverage is intended to cover spouses, domestic partners, civil partners, or other eligible dependents, such as children. These term life plans may need the permission of the dependent for the policy to begin.
Many of the policies which are offered by MetLife are offered through employers, but there are affordable plans for individual life insurance available as well. The Rapid Term life insurance provides individuals with up to $500,000 in coverage without the requirement of a medical exam. The application process just asks a few questions about personal health.
Terms of 10-30 years, with 5-year increments, are available with the Rapid Term policy and the application can be complete online. The price that you pay for this policy stays the same through the entire length of the initial term – even if the 30-year policy is chosen. Coverage begins once the first payment is processed after the application is approved.
The policy is renewable up until the age of 95.
Certain exclusions do apply. If the policy holder happens to die by suicide within the first two years of the Rapid Term plan, for example, the premiums paid into the policy will be refunded, but the benefit will not be paid.
View for more information about MetLife Term Insurance.