Life Insurance

What is it?Whole Life is the most basic type of permanent life insurance. Depending on your age and health, your premium will purchase a specific face amount and accumulate cash value, as long as your premiums are paid. Generally, Whole Life premiums, while higher than term premiums, especially for younger individuals, are guaranteed not to increase. In addition, Whole Life policies can earn annual dividends which are based on MetLife's investment, mortality, and expense experience. Dividends are not guaranteed.
Who's it for?People who:
Have a lifetime need for insurance protection
Prefer the high degree of safety provided by the policy's guarantees
Are attracted by the policy's ability to build tax-deferred cash values
Like to know that their premiums will never increase
Over time, whole life insurance may be more economical than term insurance since premiums do not increase with age and the policy builds cash value.
Earnings, and certain withdrawals and loans, may qualify for tax-favored treatment.
Policy loans and withdrawals provide access to your cash value. Loans, withdrawals and any unpaid loan interest generally reduce the death benefit, which could leave beneficiaries inadequately protected. Loans reduce the cash value and death benefit by the amount of the loan outstanding plus interest and may affect them permanently.
If you cancel the policy, the accumulated cash value is yours to use as you wish. Taxes may apply.
Dividends can be taken in cash or used to increase the policy's cash value and death benefit. This means that certain "dividend options" may be used to purchase additional insurance coverage each year, regardless of your health.
Premiums are initially more costly than term premiums, although they remain level for the life of the policy. Premiums are guaranteed not to increase over the life of the policy.
A minimum death benefit is guaranteed.
The cash value is guaranteed to grow at a specified, minimum rate.

Like most insurance policies, MetLife's policies contain exclusions, limitations, reductions of benefits and terms for keeping them in force. For complete costs and details, see your MetLife Financial Services representative.
L-98 Whole Life Insurance [Life Paid-Up at Age 98 (L-98) Form No. 8-90(95) ] is issued by Metropolitan Life Insurance Company, 200 Park Ave., New York, NY 10166.