The prestigious history of MetLife began in 1863, when the National Union Life and Limb Insurance Company was created to insure soldiers against injuries incurred during the Civil War. Subsequent to the war, the company founders chartered the Metropolitan Life Insurance Company to market insurance to the working class, and began a tradition of customer service and financial strength unparalleled in the history of personal insurance.
In 1929, smart planning and financial stability ensured that MetLife survived the stock market crash with barely a scratch. Unlike other bankrupted companies, MetLife was able to honor financial obligations such as paying cash surrenders to clientele who depended upon this money to stay afloat. A decade later, MetLife served as the leading private supporter of the Allied war effort.
Today, the tradition of excellence is carried on by employees whose prime goal is fostering financial freedom for all people. Insuring more than 13 million households and 70,000 corporations, they are well on the way to achieving that goal —so far, a total of over 37 million people entrust their futures to MetLife. This peerless reputation of excellence inspired MetLife’s new slogan: “Have you met life today?®”
One Year Term Insurance: This policy provides a level death benefit for periods of one year at a time. These one-year terms are renewable until age 95 without medical evidence of insurability, although premiums increase each year (but never beyond a specified maximum). These policies are convertible to a permanent MetLife policy up until age 60; after this age, they are convertible at the end of every fifth year.
Level Term Insurance: These offers a level amount of coverage for a term period of 10, 15, 20, or 30 years. Once the term expires, plans are renewable until age 95, and they are convertible until age 90.
Scheduled Term Insurance: These plans may be purchased in term periods of 10, 15, 20, 25, or 30 years, but require the policyholder to renew coverage annually. Amount of protection decreases each year concurrent with a decreasing financial obligation, such as an outstanding debt. These policies are convertible until age 60; thereafter, they may be converted to a permanent plan at the end of every fifth year.
L-98 Whole Life: L-98 means “Life Paid-up at age 98.” It offers premiums guaranteed never to increase, a guaranteed death benefit, as well as the potential to receive dividends and accumulate cash value.
Guarantee Advantage UL: With adjustable premiums and death benefit, this policy can be custom tailored to your financial objectives. Plus, it offers an innovative, extra advantage: the Guaranteed Survivor Income Benefit, or GSIB, which guarantees that your family will receive a lifetime income tax-free monthly income instead of one large lump sum. Riders include Long-Term Care Guarantee Purchase Option, Waiver of Specified Premium, and Guaranteed Survivor Plus Purchase Option.
Equity Advantage VUL: This policy offers flexible premiums, death benefit, and the potential for more rapid cash accumulation, as net premium payments can go directly into 49 different investment options. No cash value is guaranteed, but if minimum premiums payments are met, a minimum death benefit will be received.
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