MetLife today announced the launch of its new Whole Life policy and with that, finalized the transition of all MetLife life insurance products to the 2001 Commissioners’ Standard Ordinary (CSO) Mortality Table. In addition to providing permanent life insurance coverage and traditional guarantees on premium, cash value and death benefit (so long as the policy remains in-force), Whole Life offers a competitive premium. This new product introduction will not affect in-force policyholders of MetLife’s existing whole life products.

"Today’s whole life insurance products still offer families long-term protection, growth in cash value, and dividend participation," states Gene Lunman, senior vice president and head of MetLife’s Individual Business Product Management Group. "At MetLife, we’ve designed our offering to give individuals a competitive value proposition, additional benefits and a way to set aside additional money for the future. It is a reflection of MetLife’s commitment to providing individuals a foundation for their financial wellbeing and a solution for life’s many possibilities."

MetLife’s new Whole Life insurance is a permanent life insurance policy that offers lifetime protection, as long as the policy remains in-force, remaining an attractive protection tool for those looking for guaranteed level premiums, guaranteed cash value and guaranteed death benefits. Annual non-guaranteed dividend payments are an attractive benefit of the policy, and if paid, may increase the cash value and death benefit over time.

Whole Life has been improved using the 2001 Commissioners’ Standard Ordinary (CSO) Mortality Table, which allowed a 4% nonforfeiture rate, premiums payable to age 100, and policy maturation at age 120. MetLife’s other permanent life insurance products, the Equity Advantage Variable Universal Life (EAVUL) and Guaranteed Advantage Universal Life (GAUL), were switched to the 2001 CSO Mortality Table earlier this year.

The Whole Life policy’s enhanced cash accumulation and distribution features maximize the opportunity to have a potential income stream by offering reduced fees and increased flexibility. Some of those features include:

  • A reduced premium in most nonsmoker cases due to improved factors (larger reductions may occur at age 45 and over)
  • A shorter-duration premium offset in many situations
  • Improved Internal Rate of Return at the 10th and 20th year of the policy, emphasizing the importance of cash value growth and policy performance
  • Greater flexibility with the improvements on the policy’s optional Paid-Up Additions Insurance Rider (PAIR, or known through MetLife Investors as The Enricher®), which allows the policyholder to pay additional premiums if desired, includes a premium payment duration increase from age 65 to 100, a premium load reduction from 5% to 3%, and a maximum annual cap increased to $5 million:

    • First year cap remains at 15 times base standard nonsmoker premium (excluding policy fee)
    • Renewal year cap remains at three times base standard nonsmoker premium (excluding policy fee)

  • MetLife Group Term conversions are now available into the new 2001 CSO Whole Life product.

Celebrating 140 years, MetLife is a subsidiary of MetLife, Inc. (NYSE: MET), a leading provider of insurance and financial services with operations throughout the United States and the Latin America, Europe and Asia Pacific regions. Through its domestic and international subsidiaries and affiliates, MetLife, Inc. reaches more than 70 million customers around the world and MetLife is the largest life insurer in the United States (based on life insurance in-force). The MetLife companies offer life insurance, annuities, auto and home insurance, retail banking and other financial services to individuals, as well as group insurance, reinsurance and retirement & savings products and services to corporations and other institutions. For more information, please visit


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Brad Sheehan