MetLife

MetLife, Inc.

TypePublic
Traded asNYSE: MET, S&P 100 Component, S&P 500 Component
IndustryFinancial services
FoundedMarch 24, 1868
HeadquartersMetLife Building, New York City, New York, United States
ProductsInsurance, Annuities, Employee Benefits
WebsiteMetLife.com
  • MetLife, Inc. is the holding corporation for the Metropolitan Life Insurance Company (MLIC) and its affiliates.
  • MetLife is one of the largest global providers of insurance, annuities, and employee benefit programs.
  • Outside of the United States, MetLife operates in Latin America, Europe, Asia's Pacific region, and the Middle East.
    • MetLife holds leading market positions in the United States, Japan, Latin America, Asia's Pacific region, Europe, and the Middle East.
  • Subsidiary and affiliate companies MetLife subsidiaries and affiliates have included MetLife Investors, MetLife Bank, MetLife Securities, Metropolitan Property and Casualty Insurance Company and its subsidiaries, General American, MetLife Legal Plans, MetLife Resources, New England Financial, Walnut Street Securities, Inc. , Safeguard Health Enterprises, Inc. , and Tower Square Securities, Inc., Cigna.
  • Brighthouse Financial was launched in March 2017.

Products and services

  1. Life insurance
    • MetLife's individual life insurance products and services comprise term life insurance and several types of permanent life insurance, including whole life, universal life, and final expense whole life insurance.
    • These services vary in regards to the duration and amount of coverage available and whether a medical exam is required for coverage.
    • The company also offers group life insurance, provided through employers, which consists of term life, permanent life, and accidental death and dismemberment coverage.
  2. Dental
    • MetLife offers group dental benefit plans for individuals, employees, retirees and their families and provides dental plan administration for millions of people.
    • Plans include MetLife's Preferred Dentist Program (PPO) and the SafeGuard DHMO (available for both individuals and employees in CA, FL, TX, NJ and NY.
  3. Disability
    • For individuals, the company's individual disability income insurance can replace a portion of lost income if an individual is unable to work due to sickness or injury.
      • MetLife offers several individual disability income policies, including MetLife Income Guard, OMNI Advantage, OMNI Essential, Business Overhead Expense, and Buy-Sell.
      • The policy options provided by the company vary in terms of eligibility and the provided coverage.
    • For groups, MetLife offers short term disability insurance and long term disability insurance.
      • Short term disability insurance is structured to replace a portion of an individual's income during the initial weeks of a disabling illness or accident.
      • Long term disability Insurance serves to replace a portion of an individual's income during an extended period of a disabling illness or accident.
      • The company also maintains an absence management product which allows employers to track and manage both planned and unplanned employee absences.
      • The product, which MetLife calls MetLife Total Absence Management, is structured for businesses with 1,000 or more employees.
  4. Annuities
    • MetLife offers annuities which consist of fixed annuities, variable annuities, deferred annuities and immediate annuities.
  5. Auto & Home
    • MetLife's home insurance includes homeowners insurance, condo insurance, renters insurance, insurance for landlords, and mobile home insurance.
    • The available policies for MetLife's home insurance provide coverage for possessions, property damage from natural disaster or theft, and various legal expenses incurred resulting from injuries sustained on an individual's property.
    • The companies also sell RV, ATV, boat, mobile home, collectible vehicle, and motorcycle policies and offers flood insurance policies as a participant in the National Flood Insurance Program (NFIP), which is managed by the federal government.
    • MetLife's various types of coverage for auto insurance include liability protection, collision and comprehensive coverage, personal injury protection, rental car coverage, and uninsured and underinsured motorists coverage.
    • Through an arrangement with Hyatt Legal Plans, a subsidiary of MetLife, MetLife Auto & Home underwrites group legal plans in many states.
    • The GrandProtect policy simplifies complex insurance needs by combining a client's home, valuable items, autos, RVs, and boats into one comprehensive policy package.
      • The ultimate benefits to the consumer are having one bill, only one deductible, comprehensive coverage, and typically lower rates than trying to get each policy individually.
    • Farmers Insurance Group completed it's purchase of MetLife's auto and home books of business on April 8, 2021. (for $3. 94 billion)
  6. Other product
    • MetLife's products also include critical illness insurance.
    • Financial services include fee-based financial planning, retirement planning, wealth management, 529 Plans, banking, and commercial and residential mortgages.
    • The company also provides retirement plan and other financial services to healthcare, education, and not-for-profit organizations.
    • The MetLife Center for Special Needs Planning is a group of planners which serve families and individuals with special needs.
    • In 2014, MetLife launched MetLife Defender, a digital identity theft protection product.

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