MetLife

MetLife, which is an abbreviated name for The Metropolitan Life Insurance Company, is a New York-based insurer that has been doing business since 1864. If you’re looking for burial insurance, sometimes referred to as final expense insurance, you’ll want to take a look at MetLife. The company offers whole life insurance options as well as its guaranteed acceptance whole life packages.

Guaranteed acceptance packages, as the name implies, means that you will not be turned down for preexisting medical conditions. There is no medical exam required, and you may purchase a plan online or over the phone in a short amount of time. MetLife advertises rates as low as $9.70 per month, though the premiums will likely vary based on your age, sex, location, and other factors. MetLife’s whole life insurance is available for customers between the ages of 50 and 75. It is designed to ease the financial burden of funeral costs and other debts via a guaranteed death benefit payout.

What is burial insurance?

Burial insurance, also called final expense insurance or funeral insurance, is a form of life insurance that pays a predetermined amount to a beneficiary upon the policyholder’s death. Burial insurance is typically less expensive than traditional life insurance. It is also usually easier to qualify for and features lower monthly premiums than life insurance. Burial insurance is designed to cover the costs of funeral services and related products.

Why is burial insurance necessary?

Burial insurance is essential if you lack savings to pay for funeral and other end-of-life expenses. Your surviving family will be responsible for any debts incurred as a result of your burial, so it’s a good idea to leave them a lump-sum payment in the form of burial or final expense insurance to cover these costs. Burial insurance can also be used as an alternative if you have been turned down for a life insurance policy.

How much burial insurance is necessary?

Burials cost an average of $10,000, and most burial insurance policies pay out accordingly. Policies with higher death benefits are available, though they will also feature higher monthly premiums. They may also have qualification restrictions if they are whole life insurance policies. If you plan to have a small, simple burial service, a $10,000 policy should be adequate to cover most, if not all, of your family’s expenses.

How to get started

If you are already a MetLife insurance customer, you should contact your local office and inquire about a final expense policy. If you are a prospective customer, you can contact a MetLife customer service representative via the company’s website. You may also shop for policies using our comparison tool by clicking on the following link.

Financial Strength Ratings

AM Best – A, Stable outlook
Moody’s – A3 (Not on watch), Stable outlook
Standard & Poor – A, Stable outlook

Company contact info

MetLife
PO Box 371487
Pittsburgh, PA 15250-7487
(800) 638-5433