MetLife is a very well known name in the life insurance industry. I mean, who isn't familiar with their Snoopy advertisements?
If you compared MetLife to the rest of the life insurance industry, they will rarely compete based on rates. They are considerably more expensive in most situations...that is until recently!
MetLife hasn't slashed rates, but they've revamped their underwriting guidelines and we've been seeing more favorable life insurance offers which makes them a HUGE competitor now.
Keep in mind, you won't see MetLife offered from SelectQuote, Matrix Direct, AIG Direct, Zander Insurance, Accuquote or any of the other big call centers. This is because their agent compensation is VERY low compared to the rest of the industry. You have to seek out a truly independent agent to get access to MetLife.
Here are some examples where MetLife is knocking the ball out of the park:
Blood Pressure Treatment
Consumers age 55 or older are eligible for Preferred Best with medications and no readings over 140/85. Many companies will go Preferred, but Met is going Preferred Plus!
Consumers who have diabetes, needing the best term life insurance for diabetics policy they can get, who have a slightly elevated a1c reading may qualify for Med Edge test, which is a table shave on their term life insurance products. Table A, B, or C can be moved to Standard on a case to case basis. Credits and overall health all play a part at the Med Edge Program. Huge score for diabetes underwriting!
Consumers age 65 or older family history is not considered.
If you're taking 1 medication for mild anxiety or depression, Preferred Best is available.
We are seeing very aggressive offers up to Standard with controlled epilepsy.
Preferred Plus through Select (Select is more realistic)Consumer has to be age 55 or older
Gleason score has to be 7 or below
Consumers ages 55-69- Surgery needs to be 10 years ago for Preferred Best
Consumers ages 70 or older- 5 years since surgery for Preferred Best
Current PSA non-detectable
Most life insurance companies are keeping their stance on these health issues. It's refreshing to see a company like MetLife who for a while hasn't been a contender, become aggressive with certain risks and even going after FEGLI Retirement benefits recipients.
Rest assured that Rootfin is on top of the underwriting game. We receive underwriting updates from over 60 life insurance companies to make sure we are finding the company who will give you the lowest rate.