QuickQuote has partnered with MetLife Investors USA Insurance Company (MetLife) to bring new options for term life insurance to our customers. MetLife is the largest life insurer in the U.S. with total assets of over $539 billion at the end of 2009. They are A+ rated by AM Best and AA- by Standard & Poors.
MetLife’s Life Insurance Advantages
MetLife offers a unique approach to term life insurance underwriting with its Rapid eUnderwriting (Rapid eUW) process. Underwriting is the process used by the life insurance company to review a life insurance application and make an offer of coverage.
Rapid eUW is an innovative, electronic underwriting process that requires no medical records or paramedical exam. That’s right… You will not need to meet with an examiner, have blood drawn, etc. if you qualify for Rapid eUW. To qualify, you must meet the following criteria:
- Be between the ages of 18-40
- Apply for an amount of coverage between $100,000 and $500,000
- Apply for a policy term length of 10, 15 or 20 years (not available for a 30-year term)
- Reside in one of 23 states currently approved for Rapid eUW. Those states are AK, AL, AZ, CO, DC, DE, IA, KS, KY, MS, MT, NE, NH, OH, OK, RI, SC, SD, TN, TX, UT, WA and WY. Additional states are expected to be approved later this year.
Another tremendous benefit of Rapid eUW is the turnaround time for a decision. Applications are reviewed and a policy issued within ten days if approved. This is about one-third of the time it takes for standard life insurance company underwriting to be completed.
MetLife Term Life Insurance
For those who do not qualify for Rapid eUW, MetLife’s Guaranteed Level Term life insurance is an option. GLT is available:
- For ages 18-75 (depending on policy term length)
- For any coverage amount over $100,000
- For policy term lengths of 10, 15, 20 and 30
- In all states, plus DC
MetLife will be an excellent addition to our Term Life Insurance Marketplace. The company is financially sound, their term life insurance products are innovative, and their brand is very well-known. We are excited to offer this new option to you!