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Anyone use this product. I see everyone talking about the mutual companies but not this. The premiums seem to be good but I don't really know what else (or rather how to find objective information) to look at. Thanks.
Participating Whole Life from Metlife Investors
- Thread starter schealthagent
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- 16,889
Met Life is not a Mutual. They were but converted to a stock company many years ago.
Ohio National, Guardian, Northwestern, New York Life, etc. are mutuals that have participating whole-life.
Met Life may still have participating policies but they are not mutual.
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They do still have a Par Whole Life product... true par product with all the bells and wistles.
- 16,889
That doesn't make them a mutual.
- 15,041
Yes, MetLife does have a par whole life. Most people prefer the mutuals for par whole life. To make a real comparison, you'd have to run several scenarios and compare MetLife against an equivalent contract from a mutual. You would also need to look at past dividend performance and try to see how they will compare going forward.
Yup, they have it. It's ok. Nothing particularly special about it. As we've touched on, they are not a mutual and not extremely focused on whole life insurance.
They train their agents to make a big deal out of non-direct recognition since their contract is. They haven't changed their dividend rate in years, a big wait a minute moment for anyone who knows that dividend announcement is one of the biggest moments of the year for most of the mutual companies.
Underwriting with them isn't generous either.
This is a long way of saying, if you want to write whole life insurance, there are better companies.
They train their agents to make a big deal out of non-direct recognition since their contract is. They haven't changed their dividend rate in years, a big wait a minute moment for anyone who knows that dividend announcement is one of the biggest moments of the year for most of the mutual companies.
Underwriting with them isn't generous either.
This is a long way of saying, if you want to write whole life insurance, there are better companies.
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Thanks. I see that you are a big fan of Guardian, are there any instances when you do not use them? Thanks for sharing all of your knowledge.
Yup, in the event I'm writing a small (less than 100k) WL policy for someone in great health, I generally look at Massmutual. Guardian won't issue the policy at anything better than standard (non-smoker) if face amount is less than 100k unless person is exercising a guaranteed increase option.
Sometimes when using high early cash value whole life Mass is the insurer of choice since they don't have the minimum premium requirement many others including Guardian do.
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