Metlife Burial Insurance Review(Good,Bad,Ugly)

Metlife is a household name but that does not mean their burial insurance is competitive compared to other burial insurance companies. In fact, in this Metlife burial insurance review, we are going to go over the information that makes their final expense burial insurance inferior to other products consumers can get.

Metlife burial insurance does not compare to other products like for example Mutual of Omaha burial insurance. This is why we are going to give you everything you need to know about metlife burial insurance in this review so you can make an informed decision when it comes to getting proper final expense insurance for your family. If you want the best-priced product to protect your family from $10,000$15,000 in funeral costs Metlife burial insurance is not it.

Does Metlife offer Burial Insurance?

Yes, Metlife does offer burial insurance but there are other more affordable and better products on the market compared to Metlife burial insurance. They offer whole life insurance for their burial insurance product. All final expense products are whole life insurance policies or at least they are supposed to be.

A burial insurance policy is designed to provide a quick death benefit payout to the named beneficiary on the policy they can use this money to pay for a funeral quickly within 48 hours in most cases.

Metlife Final Expense Burial Insurance Overview

Metlife burial insurance is a guaranteed acceptance life insurance policy. This means there is no medical exam or health questions to be approved for this life insurance coverage now this may sound good but it is not.

All guaranteed issue policies have an automatic 2-year waiting period before the burial insurance will payout any death benefit to the beneficiary. This is one of the biggest problems with Metlife burial insurance. If you die within the first 2 years of having this final expense insurance all your beneficiaries will receive in death benefit will be a return of premiums. This means your beneficiary will receive the money you paid into your policy plus 10%.

If you die from an accident in the first two years the full benefit is paid. This is the exception.

Now at least you do still get something this is standard on any guaranteed issue policy however a 10% return plus the premiums you have paid on your final expense insurance will still be like throwing a needle at a brick wall. It will not be able to cover the entire funeral costs.

In addition to this Metlife burial insurance is more expensive compared to American General(AIG), Gerber, and Great Western. This is why when it comes to final expense burial insurance you want to look for life insurance policies with health questions. Final expense burial insurance are simplified issue whole life insurance policies.

This means the life insurance companies that sell whole life insurance do not require any medical exams but they will look at your health history and prescription history to compare with how you answer their health questions. The good news is most burial insurance carriers only do 2 – 3 year look-backs on certain health conditions you may have.

Even better they may not ask about certain health conditions at all which means if you have said condition you will still pass their underwriting. For example, if you were to apply with American Amicable burial insurance and you have COPD diagnosed over 3 years ago with no inhalers like Albuterol you would be approved since you are not taking meds and outside of that 3-year window.

This is why working with the experts like us is so beneficial for you and getting the right burial insurance to protect your loved ones.

Age Limit

Now another issue in this Metlife burial insurance review is the fact that their age limit does not go very high. They cover ages 45 – 75 and that is it, well what if you need life insurance at 76? You won’t get covered not that you should be trying to get this coverage anyway considering everything we have shown.

State availability Limit

In addition to the limited age range, Metlife is not available in the state of New York, Oregon, or Montana so if you live in those states you can’t get the whole life insurance coverage at all.

How Does Metlife Pay Death Benefits?

Metlife insurance for final expenses pays a death benefit upon receiving a certificate of death from the family of the insured. Any life insurance company that has whole life will pay a death benefit the same way.

Coverage Amount

Metlife life insurance for funeral expenses offers insurance coverage of $2,000 – $50,000 for their burial insurance policy. Again we believe you are better off with a different life insurance company.

Metlife Life Insurance No Medical The Truth

Considering the waiting period associated with Metlife guaranteed acceptance you must realize this “no health questions” gimmick a lot of other companies advertise out there is not positive. You should not have to settle for a burial insurance policy with a waiting period unless you are extremely sick.

Even if you are sick you can still get much more affordable coverage with a waiting period from a better life insurance company. The truth is you want to go with a life insurance company that does ask health questions and runs their health history and prescription checks that way you are approved for life insurance with no two year waiting period.

Is Metlife Good Life Insurance?

No based on our research and professional opinion we do not recommend permanent life insurance with Metlife. Metlife is more expensive than other companies for their GI insurance products. Healthy consumers should have the peace of mind knowing they have a policy that will payout right away this is something Metlife does not offer.

Guaranteed Acceptance Life Insurance is a Last Resort

You should only get a guaranteed issue policy if you have the following conditions below.

If you do not have any of those conditions you should be working with one of our agents to find the best non-medical exam policy for you. We specialize in the underwriting niches of life insurance carriers so you get the best product for your health profile.

Burial Insurance Companies with Different Underwriting

When it comes to non medical exam insurance products it is important to understand they all do different underwriting for individuals. This means if you have Congestive Heart Failure diagnosed over 2 years ago with no complications we would recommend Prosperity Life because they will accept this condition.

This is the key to peace of mind when shopping for insurance products you need to work with the experts like us. This is how you get the best policy for your burial and end of life expenses.

Metlife Quotes Compared to Other Burial Insurance Companies

These are sample prices compared to our non medical exam carriers you will most likely recognize the names.

Metlife Could Sell you a Term Life Insurance Policy Not Good

Another thing to watch out for during your shopping is that Metlife could sell you a term life insurance policy. Now the problem with this is term life insurance expires and this particular term is even worse because it is an increasing term life insurance.

This means the term life insurance premiums will increase every 5 years which means the term life insurance coverage will become more and more expensive over time. We have mentioned this type of coverage before in our Globe Life Insurance Review. A term life insurance that increases every 5 years is not good for anyone considering other term life policies lock the rates in for the duration of the term.

In addition to this the term life coverage expires at age 90. This means the term life coverage became way more expensive than what you should have had to pay and if you outlive it you will have nothing in place to protect your family.

That is a lose, lose situation.

Metlife Background

Metlife was founded in March 24th 1868 by William P Stewart and is the holding company for metropolitan life insurance company.

Their headquarters is located in New York, NY