Options Available with the MetLife Promise Whole Life Insurance

whole life insurance policy quote

Options Available with the MetLife Promise Whole Life Insurance

MetLife insurance offers 5 different options for their whole life insurance product. The following is a brief description of each:

     
  1. The MetLife Promise Whole Life - This life insurance product provides permanent lifetime insurance coverage with guaranteed level premiums payable to the age 100. The policy will then continue as fully paid up until age 120. This policy will have guaranteed cash value. It is also eligible for annual dividends beginning at the end of the second policy year. The dividends are not guaranteed as they are based on company performance.
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  3. The MetLife Promise Whole Life 120 - This product is very similar to the Promise Whole Life but guaranteed premiums are paid out until age 120. By spreading the premium due out until age 120 this keeps the price a little lower than the standard Promise Whole Life. There is also cash value, but with this product there would be less cash value. It is eligible for the dividends also.
     

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  5. The MetLife Promise Whole Life Select 10 - This product provides the same permanent lifetime coverage but the guaranteed level premiums are payable for only 10 years. At that point, the policy will then become fully paid up until age 120. The cash value guarantee would also apply along with the eligibility for the dividends.
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  7. The MetLife Promise Whole Life Select 20 - This product also provides the same permanent lifetime coverage but the guaranteed levels premium are payable for 20 years. At that time, this policy would also become a fully paid up until age 120. The cash value guarantee would also apply to this product along with the eligibility for the dividends.
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  9. The MetLife Promise Whole Life Select 65 - This is the last of the 5 types of whole life products that are available with MetLife. This one also provides the same permanent lifetime coverage, but the guaranteed level premiums are payable until age 65. At that time this policy would become a fully paid up policy until the age of 120. The cash value guarantee would also apply to this product along with the eligibility for the dividends.
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About the author: Pam Fortier has been in the life insurance business for over 30 years. She also holds both a LUTCF designation and a CISR designation. Pam is adept at helping clients select the coverage they want at the price they can afford. You can contact Pam at 1-800-651-1953 or PFortier@Pivot.com.

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