Name: Brighthouse Life Insurance Company Review
Item: Brighthouse
Rating: 4
Author: Policygenius

Overview

Brighthouse (formerly MetLife), an A+ rated company founded in 1868, has a fast track process for younger applicants with no major health issues in their medical history, a rare offering among life insurance companies. They also feature competitive underwriting for some major health conditions.

Financial Strength

Founded: 1868
Policyholders: 6,500,000
A.M. Best: A+
BBB Rating: A+
J.D. Power: 3 of 5

Accolades

Brighthouse (formerly MetLife) has won multiple awards, including Celent’s Model Insurer of the Year award in 2014 and being named #1 Life and Health Insurance company in Fortune magazine’s “World’s Most Admired Companies” in 2015.

Finding the best rates

Each insurer approaches health conditions differently. One insurer might ignore a heart attack from a few years ago, whereas a different insurer might rate you as a higher risk for the same thing. Here are the details of how Brighthouse treats a variety of common health conditions from an underwriting perspective.

Pricing for health conditions

HEALTH CONDITION	PRICING
Survivor/Family History	Good
Recent Weight Loss	Fair
Heart Attack	Good
Diabetes	Fair
Sleep Apnea	Excellent
Former Tobacco Use	Excellent
High Blood Pressure	Good
High Cholesterol	Fair

Excellent - Above average; company provides excellent coverage for clients with this condition.
Good - Spot on; company doesn’t look at this condition unfavorably in underwriting.
Fair - Could use some work; clients with this condition may be issued a lower health rating, and subsequently higher rates than other insurers.

Brighthouse Company Details

Brighthouse (formerly MetLife) has a faster than average application turnaround time, but unfortunately they make everyone go through an extra phone interview with an underwriter. They have very competitive underwriting and a fast track process for applicants with no significant health history.

How's the application process?

Carrier review 4 star ratings

Pros

Electronic application
Fast-track process for issue-free medical history

Cons

Application form longer than average
Slower than average application approval (31 days)
Policy delivery by mail

How's the customer service?

Carrier review 4 star ratings

What you can do online

Changing address
Changing payment info

What you can't do online

Updating beneficiaries requires paper forms
Policy cancellation requires a phone call

Brighthouse Term Life Plan Details

Common features

All term life policies offered on our site provide life coverage for a specific period of time (the term). The key features of this policy are standard across all the term policies we offer:

Level premium- which means the cost of the policy (the premium you pay) is fixed for the entire term of the policy. It will not increase during the term of the policy.
Good value- term life policies are significantly less expensive for the same amount of death benefit coverage than permanent life policies.
Regulated- the cost of this term life policy, for a given coverage amount and term, will always be the same for you regardless of who you buy it from. That’s because the policy will be priced based on the underwriting table the insurer files with the state insurance regulator.
No-risk obligation for you- you, as the policyholder, can cancel your policy at any time if you decide you don’t want it anymore. The insurer, however, cannot cancel your policy as long as you pay the premiums on time.
No exclusions- except for suicide during the first two years of the policy (which is standard by law across life insurance policies).
Terminal illness benefit- you can access a portion of the policy’s death benefit while you’re still alive if you’ve been diagnosed with a terminal illness. You might see this referred to as an “accelerated death benefit.”
Convertible- which means, if you choose to, you can convert the term life policy to a permanent life policy. The conversion will generally cost you more and is subject to certain conditions.

Cost comparison

Quote for: $500,000, 20-year term life insurance policy for healthy, nonsmoking individuals, in California, monthly premiums

COMPANY	PLAN	MALE - AGE 30	MALE - AGE 40	MALE - AGE 50	FEMALE - AGE 30	FEMALE - AGE 40	FEMALE - AGE 50
AIG	Select-a-Term	$21.11	$30.62	$79.93	$18.08	$28.46	$59.60
AIG	ROP Select-a-Term	$91.21	$150.77	$281.97	$75.80	$124.95	$261.56
Banner Life	OPTerm	$21.44	$32.38	$94.07	$18.19	$26.60	$58.62
John Hancock	Term	$26.95	$34.65	$81.70	$24.20	$34.00	$78.99
Lincoln Financial	LifeElements	$28.44	$38.94	$78.75	$23.63	$30.63	$58.63
Lincoln Financial	TermAccel	$21.00	$29.75	$78.75	$17.94	$25.81	$57.31
Mutual of Omaha	Term Life Answers	$21.66	$33.47	$85.53	$23.41	$28.66	$64.09
Pacific Life	Pacific PROMISE Term	$20.84	$29.59	$77.09	$19.18	$26.68	$61.67
Principal	Term	$22.75	$31.94	$79.63	$20.04	$27.56	$59.24
Protective	Custom Choice UL	$20.37	$28.91	$76.82	$17.93	$25.25	$55.75
Protective	Classic Choice Term	$20.21	$28.38	$75.68	$17.63	$25.94	$55.47
Prudential	Term Essential	$34.20	$43.65	$88.65	$27.90	$38.70	$76.95
Prudential	Return of Premium Term	$101.00	$143.62	$291.99	$88.12	$130.04	$253.37
SBLI	Level Premium Term	$21.32	$40.05	$96.06	$24.48	$34.71	$65.87
Transamerica	Trendsetter Super	$22.36	$37.85	$79.12	$18.06	$30.96	$62.78
Transamerica	Trendsetter LB	$24.95	$38.27	$92.89	$20.65	$34.84	$73.11

Very competitive underwriting and fast track process for younger applicants with no significant health history

Annual Payment Discount - 8%
Payment methods available - Check; Auto bank draft (for monthly payments only); No credit cards accepted
Is coverage available without a medical exam? - No
What is the rule for converting the policy? - If issued before age 65, the policy is convertible until the earlier of the end of the term period or on the age 70 policy anniversary.
Is temporary coverage available? - Yes, up to $1,000,000.

Riders are additions to your overall life insurance policy that turn a basic life insurance policy into something that covers more circumstances.

Disability Income Rider - If you become totally disabled as a result of a qualifying event, premiums are waived if you become totally disabled (after a 6 month waiting period).
Accelerated Death Benefit Rider - Provides payment of all, or a portion, of the death benefit if you are diagnosed with a qualifying terminal illness (12 months, or 24 months in some states, max life expectancy).

Brighthouse Life Insurance Review