2024 MetLife Insurance Review
MetLife is a reputable insurance company that has an A+ (Superior) rating from AM Best, one of the nation’s leading insurance-rating organizations, as well as solid scores from S&P and Moody’s. The good scores are a reflection of MetLife’s financial strength and claims-paying ability. It is important to note, however, that many of MetLife’s insurance policies are not designed for individual purchase. Rather, they are purchased through a participating employer.
Table of Contents
MetLife Reviews and RatingsTypes of MetLife InsuranceMetLife Life InsuranceMetLife ClaimsMetLife TransparencyMethodologyMetLife Insurance FAQ
MetLife Reviews and Ratings
- Reviews on WalletHub: 3.7/5
- NAIC: 1.00
- BBB: A-
- AM Best: A+
- S&P: BBB+
- Moody’s: A3
MetLife’s good reviews from credit rating agencies and consumer watchdogs indicate that it is a reliable insurer overall. Also, MetLife’s customer complaint score from the National Association of Insurance Commissioners (NAIC) is 1.00, which means it has received an average number of customer complaints for an insurance company its size. When customers have complained, it’s been about unexpected delays or denials of claims.
Overall, this translates into a solid score in this category for MetLife.
Types of MetLife Insurance
- Accident Insurance
- Critical Illness Insurance
- Cancer Insurance
- Dental Insurance
- Disability Insurance
- Hospital Indemnity
- Health Insurance
- Legal Insurance
- Life Insurance
- Long-Term Care Insurance
- Pet Insurance
- Vision Insurance
Since MetLife offers many types of insurance options, the company gets a high score in this category. It would do better if it still offered car insurance and home insurance, though.
MetLife Life Insurance
Term Life Insurance
Term life insurance policies provide protection for a set amount of time, usually 1 to 40 years. MetLife offers a few different kinds of term life policies including supplemental term life, which allows you to purchase additional coverage as your needs change, and dependent term life, which provides coverage for spouses, civil union partners, domestic partners and children.
Group Variable Universal Life Insurance
Group variable universal life insurance provides protection for the entirety of the insured’s life, with the added benefit of having an interest-generating account at a guaranteed rate. Additionally, MetLife’s group variable universal life insurance policies allow you to pay into a variety of investment options and withdraw from the cash value at any time. You can also start and stop payments on your terms or make lump-sum payments anytime during the year.
Group Universal Life Insurance
Group universal life insurance policies are permanent life insurance policies that can have a tax-deferred savings feature. The cash value component can be used to supplement retirement income.
Accidental Death and Dismemberment Life Insurance
Accidental death and dismemberment (AD&D) life insurance is generally used to supplement an existing term life insurance policy and provides protection for unexpected events that result in death, loss of speech or hearing, paralysis, or even dismemberment. MetLife offers a wide range of AD&D insurance plans, including specific policies for business travel and dependents.
Other MetLife Benefits & Coverage Options
You can get standard health insurance policies from MetLife through a participating employer. Additionally, MetLife has dental and vision plans available for qualifying health insurance users.
MetLife also offers disability insurance, cancer insurance, and long-term care support, which are all great ways for consumers to protect themselves from unexpected medical expenses.
Besides standard types of life and health insurance, MetLife offers annuities, health spending and savings accounts, retirement and income resources, and investment support.
MetLife Claims
For most policies, you can file new claims or check your claim’s status online through MetLife’s MyBenefits portal. Individual life insurance claims can be filed online by filling out the necessary forms or by calling 800-638-5000. Group life insurance policyholders should call 800-638-6420 to file new claims or check the status of an existing one.
MetLife Transparency
You can find key information on the MetLife website quickly and easily. You can also call MetLife’s 24/7 customer support line at 800-638-5433 to get more information. As a result, MetLife gets a high score in this category.
Bottom Line
MetLife is a pretty good insurance company overall. Although MetLife offers a wide variety of health and life insurance policies, along with good customer service, the company no longer offers auto insurance or home insurance.
Methodology
In order to provide fair, helpful reviews of insurance companies such as MetLife that can lead consumers to the best insurance coverage for their needs, WalletHub reviews each insurance company in several major categories. These categories include insurance types, customer service & reviews, claims, financial stability and transparency. The best insurers offer a wide range of coverage options, high-quality customer service, simple claims processes, and are well equipped to pay out claims.
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