Simply seeing the name MetLife, most consumers feel they can relate with the company and what it represents almost immediately. Not only has it been around for several generations, but it has perhaps one of the greatest brand recognition initiatives to bring its excellent products to the table of millions of Americans every year.
Though, in the coming years you’ll begin to see them transition their name to Brighthouse Financial, most of us will long remember the MetLife name. Here is our MetLife (Brighthouse Financial) review. Make sure to complete your homework and due diligence before purchasing any life insurance product.
Our MetLife (Brighthouse Financial) Review
Founded originally in 1863, it was called National Union Life and Limb Insurance Company. With a focus primarily on Civil War participants, it was a tough start where little success was found. After years of desperate business moves, Metropolitan Life Insurance Company was started by James Dow, and the companies focus was put strictly towards life insurance.
By 1879, they targeted industrial workers and finally found its swing in the life insurance industry. By 1909, MetLife had become one of the best life insurance companies of the era, producing the largest amount of in force insurance in the nation.
MetLife became a mutual company, meaning it was owned not by shareholders, but by policyholders in early 1915, but went public in 2000 under the ticker MET on the New York Stock Exchange.
Today, it remains a Fortune 500 company, and the largest provider of life insurance nationwide based on life insurance currently in-force. It offers term life insurance, universal and variable universal life insurance, and whole life insurance products, and is also one of the few no medical life insurance carriers, where no exam is required.
On top of its life insurance division, it also provides dental, disability, annuities, auto and home insurance, critical illness policies and more. It also partakes in the financial services arena, with fee based planners, general retirement funding, 529 plans and even mortgages.
The Strength of MetLife Today
While the name is trusted already, the financial backing to the company’s name is perhaps even more trusted. With extremely safe and sound solvency, MetLife has secured “A” or better ratings from all four the major agencies who rate insurance companies. This is a feat not many can brag about in the U.S. The following are the most updated financial ratings for Metropolitan Life Insurance Company, specifically:
- A.M. Best – A+
- Fitch – AA-
- Moody’s – Aa3
- Standard & Poor’s – AA-
There are also operations in many countries around the globe, including substantial market share in Mexico and several oriental nations. MetLife Insurance K.K. is located in Japan, for example.
Perhaps one of the most iconic emblems which plants MetLife in the American household, and even worldwide, is its relationship with Peanuts. Snoopy has adorned much of the marketing material, including blimps, since 1985.
More on Met/Brighthouse
In 2008, Metropolitan Life Insurance Company was named one of the “Best Managed Insurance Companies” by Forbes, and has also been apart of the Most Admired list more than once. The MetLife Foundation, its charitable arm, has contributed millions of dollars for health and education across the United States, and has invest over a billion dollars in renewable energy sources.
The company also has a special arm in which it aims to aid those with special needs in the different aspects of financial planning. This can be invaluable to someone who is unfamiliar with the laws and regulations surrounding the various routes financial planning must go when a dependent can’t manage their own funds.
With a workforce in excess of over 65,000, it also makes Metropolitan Life one of the larger employers of agents and corporate employees in the insurance category. Its focus on employee benefits lives on, and the company houses the benefit plans for nearly 100 of the nations top performing companies. For all of these reasons, MetLife has made our list of the 10 most elite life insurance companies in 2017.
A New Frontier For 2016 And Beyond: Brighthouse Financial
The Wall Street Journal announced on July 21, 2016 of a bold new move from MetLife, who would no longer be called this brand named heirloom for its life insurance division. They are now calling the divested division Brighthouse Financial, leaving behind a century old name.
Though it appears Metropolitan Life Insurance Company is looking to make a full transcendence from one brand to the next, it’ll be hard to let go of such a familiar, trustworthy, and household name down the road. Likely, the entity will continue, though not as formally marketed for it’s products as it once was.
A larger focus from MetLife appears to be headed towards the group insurance products, and Brighthouse Financial will assume the lead role for life.
|Company Name (and Subsidiaries)||MetLife, Inc.|
American Life Insurance Company
Brighthouse Life Insurance Company
Brighthouse Life Insurance Company of NY
General American Life Insurance Company
Metropolitan Life Insurance Company
New England Life Insurance Company
MetLife Securities, Inc.
Metropolitan Property and Casualty Insurance Company
|Company Ratings||A.M. Best (A+)|
Moody’s Investors Services (AA3)
Standard & Poor’s (AA-)
|Headquarters (Address, Phone, Web)||1095 Ave. of the Americas|
New York City, NY 10036
Phone: (212) 578-2211
|Policy Types Available||Term|