MetLife No Exam Life Insurance Review
Quick Summary: Metlife is a well-known name but when it comes to no exam policies, there are much better options. The approval process is quick and fast but the coverage maximum is low (100k) and the pricing is expensive compared to other companies.
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See our in-depth guide about life insurance without the medical exam. Compare more than 20 of the top companies and policies. Find out which is right for you today.
About the Company
In 2017, the retail life insurance sales were spun off and now sold under the Brigthouse Financial company name. For the most part, the products and pricing did not change, just the branding.
150 years old and going strong, Metlife is a name most people are familiar with. A provider of insurance, annuities, and employee benefits, their $900 billion in assets land them in the top 50 on the prestigious Fortune 500 list.
Due to its strong financial footing, MetLife and Brighthouse receive high marks from industry credit rating agencies including an A from A.M. Best which is considered excellent.
About the Policy
Product Name
Simplified Issue Term Insurance
Coverage
$10,000 to $100,000
ISSUE AGE
18 to 70
TERM LENGTH
Annually renewable up to age 90
Product Name
Simplified Issue Term Insurance
COVERAGE
$10,000 to $100,000
ISSUE AGE
18 to 70
TeRM LENGTH
Annually renewable up to age 90
Underwriting Process
The underwriting process with Brighthouse is quick and easy. You must answer "No" to a few questions and they will run a check of your Medical Information Bureau report. Here they can see any previous life insurance approvals or denials.
Medical Questionnaire
For example: If you were denied before by another insurance carrier because of high blood pressure, this will be shared and seen by the company taking your new application.
The medical questionnaire is just 3 questions that you must pass by answering "No" to each one. A "Yes" answer will mean a decline for the non-med product although you can still seek fully underwritten coverage.
These questions will be:
Decision Time
Due to the simplified questionnaire and electronic underwriting, most decisions will be reached the same day or the following day.
Pros
Fast approval, often times the same day.
Simple application process with just a few questions about your medical history.
Will issue new policies up to age 70.
Cons
Low maximum death benefit.
Price of premiums is expensive.
No customization or rider options.
Rates increase every 5 years with no option to lock them in for a longer term.
Extras and Options
Metlife's simplified issue product has very few options to customize the policy. You can purchase an Accidental Death Benefit rider which pays twice the face amount in the event insured has an accidental death.
Cost
Metlife's non-med premiums are more expensive than most competing products.
Rates are $1 for the first month and then increase on a set schedule ever 5 years on years ending in a "1" or "6".
Source: metlife.com
Use our quoting tool to compare term life quotes without an exam from multiple top companies
How to Find the Best No Exam Policy
If you are considering life insurance without the exam, MetLife is one option.
But is it the best option for you?
Recent advancements in underwriting have increased the choices for consumers while bringing the cost down. Keeping up with all the changes in the industry is not easy. You need a trusted adviser looking out for your needs.
The best way to do this is to work with an independent agency that is:
No Pressure. No Cost.
You're in luck:)
We do all the above and more. If you'd like to have a no pressure talk about options, please contact us or fill out the quote request form on this site.
