Term Life Insurance from MetLife

Basics
How Much Do You Need?
FAQ's

Basics

Term Life Basics

Term Life Insurance provides a cost-effective solution for your temporary life insurance needs and gives you the flexibility to change your policy should your temporary needs turn into permanent goals.

Term Life Insurance is right for you if you want:

An affordable way to get maximum coverage
To cover specific financial responsibilities like a mortgage or college expenses
To supplement your Permanent Life Insurance during periods when coverage needs are higher, such as family-growing, mortgage-paying years

Some things to consider about Term Life Insurance:

There is no cash value accumulation
Continuing your coverage after the initial level premium-paying term expires can be very expensive

Take the next step in protecting your family.

State		Date of Birth

Coverage Amt		Term Length

Tobacco/nicotine in last year?YesNo

Your Health		Gender

How Much Do You Need?

Getting the right coverage starts with knowing how much you need. For most people, our quick and easy Life Insurance Calculator can provide a good estimate:

Tell us a little about yourself
Provide some quick info on income, debts and assets
Get an instant estimate of how much coverage you need

Revisit your coverage if your needs change and talk to a professional about specific concerns like a special needs child.

Get the Right Coverage

How much life insurance do I need?
What kind of life insurance do I need?

FAQ's

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How do I know what term to select?

Every life situation is different, so you will need to take your personal obligations into account. Things to consider could be the number of years you have left on your mortgage, or if you have children, the number of years until they complete college. For example, if you have young children and plan to send them to college, you may want to consider at least a 20 year term life policy.

What term lengths are available?

Depending on your age, level term life insurance protection is available for 10, 15, 20 or even 30 years¹. We also offer One-Year Term which may be suitable for shorter temporary insurance needs.

Can I convert my policy from term to permanent?

If your needs change, so can your coverage; you can convert all or some of your term coverage to a permanent policy for a lifetime of coverage—without a physical, and with no medical questions asked.²

What are some of the reasons for converting to a permanent life insurance policy?

If you take on debt later in life to pay for a child's or grandchild's college education or to buy a vacation home
If you inherit or build significant wealth and need to plan for taxes and estate settlement costs.
If you want to maintain protection and build tax-advantaged cash value within your policy to supplement your retirement income³

Can I renew my term life policy after the initial term expires?

You can renew your policy annually after its initial term expires, up to age 95 (80 in New York). Note, however, that premiums will likely be much higher after the initial term, and will continue to rise each subsequent year. If you anticipate needing coverage much beyond the initial term, consider buying Permanent Life instead, or converting to Permanent Life.

Will my beneficiaries have to pay income tax on my policy’s death benefit?

Your death benefit will generally be free from income taxes. It is guaranteed as long as the policy remains in force.

Are there optional features that can be added onto a term life policy, and is there a cost associated with these features?

You can enhance your coverage with these optional features called “riders” for an additional cost:

Protection in case of disability
Waives your payments if you becomes sick or disabled, so that coverage continues.

Protection in case of disability with conversion option
Waives your premium if you becomes sick or disabled, and also allows you to carry over this benefit to your new policy if you convert to permanent insurance.⁴

Early payment in case of illness
With an accelerated Death Benefit, you can take a cash advance from your policy if you are terminally ill.

Long Term Care Purchase Option
Allows you to purchase Long-Term Care insurance in the future without evidence of insurability, e.g., with no medical exam.⁵

¹ 30 year term is not available in Washington and Oregon

² Policies are convertible until the earlier of the end of the initial term period or the policy anniversary at attained age 70. For issue age 65 and over, the policy is convertible for 5 years.

³ Withdrawals and loans from life insurance reduce the death benefit. Loans are subject to interest, which if not paid, increases the loan amount.

⁴ If you receive benefits under this rider, the policy can only be converted to whole life

⁵ Long-Term Care Guaranteed Purchase Option is subject to state availability

Like most insurance policies and annuity contracts, MetLife's policies and contracts contain withdrawal charges, limitations, exclusions, holding periods, termination provisions, and terms for keeping them in force. Contact your MetLife representative for complete costs and details.

Guaranteed Level Term insurance is issued in New York state only by First MetLife Investors Insurance Company, 200 Park Avenue, New York, NY 10166, and in all other states by MetLife Investors USA Insurance Company, 5 Park Plaza, Suite 1900, Irvine, CA 92614 under policy form #5E-21-04, both members of the MetLife family.

Guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.

Life Insurance

Basics

Term Life Basics

How Much Do You Need?

Get the Right Coverage

FAQ's

FAQ's

Term Life & Disability Insurance Package