Life Insurance:

Which coverage is most suitable for you?

Term Life Insurance

Term life insurance is often the most affordable coverage because it offers protection for a specific number of years. You may want to purchase a term life insurance policy to:

  • Get valuable coverage at an affordable price
  • Help cover specific financial responsibilities like a mortgage or college expenses
  • Supplement a permanent policy or work policy
Universal Life Insurance

Universal life insurance is permanent insurance that provides lifetime protection and cash value accumulation potential. Changes will happen over the course of your life and universal life insurance can offer you the opportunity to change with it. This product’s flexible design allows you to customize the timing and amount of premium payments to meet your needs now and in the future.

Before you purchase a universal life insurance policy, you may want to consider the following:

  • The amount and frequency of your premium payments can be adjusted within certain limits.
  • Your policy’s account value grows based on a credited interest rate that can change.
  • You can access money from the policy via withdrawals and loans. However, this will decrease the cash value and death benefit if the amount borrowed is not repaid.
Indexed Universal Life

Indexed universal life is a type of permanent life insurance that offers the same features as traditional universal life but with an opportunity to earn interest linked to the performance of an indexed account (such as the S&P 500® †), while protecting the policy’s cash value from market risk. Generally, indexed universal life policies have more cash value accumulation potential than other universal life products.

Before you purchase indexed universal life insurance, you may want to consider the following:

  • The policy does not directly participate in any stock or equity investments. Account values will vary depending upon the performance of the indexed account options selected.
  • You can take money from the policy via withdrawals and loans (this will decrease the cash value and death benefit if amount borrowed is not repaid).
  • You have the flexibility to switch between the different premium allocation options as your needs change over the lifetime of owning the policy.
Variable Universal Life

Variable universal life insurance offers permanent lifetime insurance protection, flexible premium payments and the ability to build cash value. You have the opportunity to accumulate cash value by choosing from a variety of investment options across risk categories. Variable universal life policies have the potential for greater cash value growth than other types of life insurance. They can also lose cash value. If you’re comfortable with market fluctuations, this type of policy may be an option to consider.

Before you purchase variable universal life insurance, you may want to consider the following:

  • Your policy’s account value will vary depending upon the performance of the investment options selected (which is not guaranteed).
  • You can take money from the policy via withdrawals and loans. However, keep in mind that this will decrease the cash value and death benefit if the amount borrowed is not repaid.
  • You can transfer funds among different investment options to allow you to develop a strategy that works for you as your needs change over your lifetime.
Whole Life

A form of permanent life insurance, whole life insurance features guaranteed premiums, death benefits, and cash value. Whole life insurance policies also give you the potential to receive dividends, which can increase the value of the policy when the insured is living or provide an increased death benefit for your beneficiaries.

You may want to purchase a whole life insurance policy if you want:

  • Protection for life
  • Payments that stay the same each year
  • To be able to put additional money into the policy on a tax-favored basis
  • Cash value you can use while you are living

Whole life insurance offers confidence through the guarantees it provides:

Guaranteed level premiums. The premiums you pay are guaranteed to remain the same for the life of the policy, regardless of age or health.

Guaranteed death benefits. Beneficiaries will receive at least the face amount of the policy upon the death of the insured, assuming you do not have outstanding policy loans and that the policy premiums are paid on time.

Guaranteed cash value. Your cash value will grow each year, tax-deferred, until it matches the face value of your policy. When you need it most, you’ll have access to your cash through loan and withdrawal options.

Talk with your financial professional about whole life insurance or fill out the form at right to get started with a MetLife representative today.

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