MetLife To Introduce Term Life Insurance

MetLife announced the launch of Simplified Issue Term Life insurance.

"No matter who you are, you should have access to simple and affordable insurance products," said Manish Bhatt, senior vice president, MetLife, in a release. "Getting started with life insurance is the hardest part for many consumers in the U.S. middle market -- comprised of those making $100,000 or less per year - and we're finding that smaller face value policies that are easy to qualify for and obtain, like our Simplified Issue Term product offers, can provide enough coverage to take care of some basic needs for survivors and provide needed protection to many families."

Simplified Issue Term is term life insurance, made available to anyone from age 18 to 70, and can be purchased over the telephone with same-day approval. The product is offered in face amounts from $10,000 to $100,000.

Simplified Issue Term is a "term to 90" insurance: it automatically renews each year, up to age 90, and it renews without additional underwriting as long as premiums are paid. Premiums increase in five-year increments, based on the insured's age.

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