Other Permanent Life Insurance
MetLife offers several types of permanent life insurance policies with flexibility and guaranteed lifetime protection to help meet your needs.
Universal Life Insurance
Our universal life insurance policies provide the flexibility to build your policy's cash value or focus more on guaranteed protection.
Choose from two policy designs:
- Guaranteed Protection lets you choose the length of the protection guarantee and the premium payment schedule up front-both are then guaranteed not to change so long as the premiums are paid as planned.1
- Cash Accumulation allows you to change, within limits, your premium payments and death benefit. It also allows you to set aside additional money in a tax-deferred way to help you meet long-term financial goals.2
Variable Universal Life Insurance
Variable universal life insurance combines life insurance protection and an investment opportunity in one product. With the ability to invest in professionally managed investment options, you can potentially accumulate cash value while providing your family with death benefit protection.3
- Death Benefit Guarantee Options. Our variable universal life insurance policies offer a rider, at an additional cost, that guarantees a minimum death benefit regardless of investment performance, for a set period you choose, as long as the guaranteed minimum premium requirements are met.
- Access to Cash Value. The cash value and liquidity of variable universal life insurance may help finance your child's education, purchase a vacation home or pay for rising health care costs. You'll have access to your cash through loan and withdrawal options.4
A variable universal life insurance policy's combination of protection and investment options can be a great option for those who are looking for insurance protection and are comfortable with investment risk.
- Product prospectus
- Separate fund prospectuses
- Prospectus supplements (if available)
- Annual & semi-annual reports
- Statements of additional information
Survivorship Life Insurance
Sometimes called second-to-die insurance, survivorship life insurance covers two people and provides a benefit only after the second person has passed away. Whether your goal is to leave an inheritance, protect your business or provide a lasting benefit to a charity, survivorship life insurance can be an important part of your estate plan.
Survivorship life insurance policies allow you to:
- Equalize your estate among beneficiaries where assets are hard to divide
- Provide funding beyond your lifetime for care of a child or other dependent with special needs
- Ensure that funds are available for fees, taxes, and estate expenses.
Survivorship life insurance policies may be less expensive than covering two people with two individual policies.
Enhance Your Policy
A variety of policy riders are available for an additional cost on all of our permanent life insurance policies, including options for a lifetime of guaranteed monthly income for your beneficiaries and the ability to waive premiums if you're disabled and can't work.5
A MetLife representative can help you determine how much coverage you need and what kind to buy.
i Variable life products are subject to market risk and may lose value.
ii Loans and withdrawals will decrease the cash value and death benefit. Withdrawals are not available until the second policy year. Loans are available as soon as a loan value exists.
1 In the Guaranteed Protection policy design, departing from the payment schedule or making other changes to your policy may affect this guarantee and higher premiums could be required to keep the policy in force.
2 Withdrawals or loans will reduce your policy's death benefit.
3 Variable life products are subject to market risk and may lose value.
4 Loans and withdrawals will decrease the cash value and death benefit. Withdrawals are not available until the second policy year. Loans are available as soon as a loan value exists.
5 Not all riders are available in every state. Optional riders are available for an additional fee and are subject to contractual terms, conditions and limitations as outlined in the prospectus. Most riders can be selected only when you apply for your policy.
MetLife's Equity Advantage Variable Universal Life insurance is sold by prospectus only.
Guarantees apply to certain insurance and annuity products (not securities, variable or investment advisory products) and are subject to the insurer's claims-paying ability and financial strength.
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.
Any discussion of taxes is for general informational purposes only, does not purport to be complete or cover every situation, and should not be construed as legal, tax or accounting advice. Clients should confer with their qualified legal, tax and accounting advisors as appropriate.
Increases in amounts of coverage require you to submit satisfactory health information to MetLife. If funding option performance is poor and you have not maintained target premium payments, your death benefit could decrease depending on the death benefit option chosen, which could leave your beneficiaries inadequately protected or require you to pay additional premium to keep the policy in force.
Variable insurance products, including variable annuities and variable life insurance, are offered by prospectus only. The prospectus contains information about the product's features, risks, charges and expenses, and the investment objectives, risks and policies of the underlying portfolios, as well as other information about the underlying funding choices. Read the prospectus and consider this information carefully before you invest or send money. Product availability and features may vary by state. All product guarantees are subject to the claims-paying ability of the issuing insurance company. The amounts allocated to the variable investment options of your account balance are subject to market fluctuations so that, when withdrawn or annuitized it may be worth more or less than its original value.
Guarantee Advantage Universal Life Insurance is issued by Metropolitan Life Insurance Company, New York, NY 10166 in New York State (policy form #1E-34-07-NY) and by MetLife Insurance Company USA, Charlotte, NC 28277 in all other states and jurisdictions (policy form #5E-34-07).
Equity Advantage Variable Universal Life is issued in all jurisdictions except New York by MetLife Insurance Company USA, 11225 North Community House Road, Charlotte, NC 28277 on policy form 5E-46-06 and in New York only by Metropolitan Life Insurance Company (MLIC), 200 Park Ave., New York, NY 10166 on policy form 1E-46-06-NY-1, and distributed by MetLife Investors Distribution Company (MLIDC)(member FINRA). MLI, MLIC and MLIDC are MetLife companies.
Legacy Advantage Survivorship Universal Life is issued by Metropolitan Life Insurance Company New York, NY 10166 in New York State (policy form #1E-32-05-NY) and by MetLife Insurance Company USA, Charlotte, NC 28277 in all other states and jurisdictions (policy form #5E-32-05).