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 Cheapest Life Insurance USA

Metlife - Life Insurance

Metlife Today

MetLife, Inc. continues to hold a leadership position in the financial services industry. Today, Metropolitan Life Insurance Company (MetLife) has approximately $1.7 trillion of life insurance in force, serving approximately nine million individual households in the U.S.* MetLife currently provides group insurance and retirement and savings products and services to approximately 64,000 corporations and other institutions, including 86 of the Fortune 100 largest companies. MetLife’s institutional clients have approximately 33 million employees and members. MetLife also has international insurance operations in 10 countries. In the retirement arena, MetLife is helping over a million individuals realize their goal of achieving a financially secure retirement, as well as offering pension plans to small businesses, government entities, non-profit organizations, and corporations. In fact, MetLife provides pension plan services, investment services, and insurance products to 86 of the Fortune 100 companies.

In 1998, MetLife announced that its Board of Directors had authorized management to develop a plan for conversion from a mutual insurance company to a stock life insurance company, a process called demutualization. On September 28, 1999, the Board of Directors unanimously adopted the plan. In the months that followed, MetLife developed and delivered required disclosure of its finances and business strategies to 11.1 million policyholders in one of the largest mailings in U.S. postal history.

On April 7, 2000, as part of its demutualization, MetLife, Inc. became the seventh largest IPO ever held in the United States. Because of the flexibility and access to capital markets offered by the stock company structure, MetLife, Inc. believes it will be in position to strengthen its market leadership and pursue opportunities for growth, thereby building greater value for its shareholders.

For its future success, the company can draw on the reservoir of history that has produced an enduring set of corporate values based on over 130 years of integrity, social responsibility, strong leadership, financial strength, and innovative products and services.

Metlife - Term Life Insurance

What is it?
Term insurance is generally the least expensive and least complicated type of life insurance. It provides insurance protection at a low cost for a specified period of time, such as 1, 10 or 20 years. If you die within the term period, a death benefit is paid to your beneficiary. If you are still living at the end of the term, protection ceases unless the policy is renewed. There is no "accumulation" element, or cash value with term insurance.

Who's it for?

  • People with a temporary need for life insurance protection.
  • Those who need a large amount of insurance protection but have limited budgets.
  • People with specific business needs (e.g., business owners who want to cover the life of a key employee who has a set number of years until retirement).
  • It provides insurance protection for a low cost (at least initially).
  • If your needs change, most policies allow you to exchange your term policy for a permanent life insurance policy without having to take a medical exam or provide other information about your health.
  • Term insurance is a good way to supplement other coverage when you have added financial responsibilities for a given period of time (e.g., mortgage, college expenses).
  • Death benefits are generally received free from income tax.
Some Drawbacks to Consider:
  • Premiums generally increase with age and they could become unaffordable later in life.
  • There is no cash value element, so you miss the tax-deferred cash value of permanent life insurance policies, such as Whole Life.
  • Once the term period expires, the insurance coverage ceases and the policy has no further value.

MetLife offers three term insurance products:

  • One-Year Term with Premium Adjustment
  • Scheduled One-Year Term with Premium Adjustment
  • MetTerm Level Premium Term*

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.

*Not yet available in all states.

Metlife - Permanent Life Insurance

What is it?
Permanent life insurance is distinguished from term insurance in several ways.

While term insurance provides protection only for a specific period of time, permanent insurance can provide protection for your entire lifetime, or in certain instances, up to a specific age -- at which point MetLife will pay the policy owner the cash value.

In addition, permanent life insurance policies can build a cash value -- money that you can borrow against and, in some instances, withdraw to help meet future goals, such as paying for a child's college education. Note: You will usually have to wait a period of time after the purchase of your policy for sufficient cash value to accumulate for you to borrow against. If the unpaid interest on your loan plus your outstanding loan balance exceeds the amount of your policy's cash value, your policy and all coverage will terminate.

Permanent life insurance policies enjoy favorable tax treatment. Cash value growth is generally on a tax-deferred basis, meaning that you pay no taxes on any earnings in the policy so long as the policy remains in force. And money can be taken out of the policy without having to pay taxes, since policy loans generally are not considered taxable income, and withdrawals generally can be taken up to the amount of premiums paid without being taxed.

The two general types of permanent life insurance policies are Whole Life, a dividend-paying policy,* and Universal Life, a flexible policy.

*Dividends are not guaranteed.

Who's it for? People who...

  • Know their need for life insurance is long term.
  • Want to accumulate a cash value to provide funds for education, retirement or other future goals.
  • Want to take advantage of the tax-favored treatment of cash value life insurance policies.


Over time, permanent insurance may be more economical than term insurance since premiums do not increase with age and the policy can build a cash value.
Earnings, and certain withdrawals and loans, may qualify for tax-favored treatment.

  • Policy loans and withdrawals provide access to your cash value.
  • If you cancel the policy, the accumulated cash value is yours to use as you wish. Surrender charges and taxes may apply.
Some Drawbacks to Consider:
  • Permanent insurance is initially more expensive than term insurance.
  • Unlike term insurance, permanent insurance offers no conversion option — the ability to exchange it for another type of plan later. Make sure the policy you buy is the one you really want.
  • Loans, withdrawals, and any unpaid loan interest generally reduce the death benefit, which could leave beneficiaries inadequately protected.

MetLife offers four permanent insurance products:

  • Whole Life
  • Universal Life I
  • Universal Life II
  • Universal Life 2001

For more complete information regarding Universal Life II or Universal Life 2001, including charges and expenses, please contact your MetLife Financial Services representative, call 1-800-MET-5000 or e-mail [email protected] for a free prospectus. You can also download a prospectus by visiting Metlife's website. Please read the prospectus carefully before you invest or send money.

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.



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