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MetLife, Prudential Term Life Insurance Plans Protect Families

By Mike Heuer

Founded in 1868, the Metropolitan Life Insurance Co. initially was founded to help ensure the lives of Civil War veterans and others mostly in the New York City metropolitan area. But over the years, the insurer has grown into one of the largest life insurance firms in the United States and offers its plans in every state. MetLife term life insurance plans are sold in every state, although not each policy type is available in every state.

MetLife term life plans are underwritten by various subsidiary companies. The MetLife Investors USA Insurance Company underwrites guaranteed level term life insurance plans everywhere but New York, where the First MetLife Investors Insurance Company provides the coverage. Guaranteed level term life policies to not change the premium amounts while the policy is in force. Standard MetLife term life insurance is underwritten by the MetLife Investors USA Insurance Company in most states, although such plans in New York are underwritten by the Metropolitan Life Insurance Company.

MetLife ranks among the top life insurance companies in the United States, and term life plans of 10 years to 30 years are available in most states. MetLife’s 30-year term life insurance plans are not available in the state of Washington.

While MetLife is one of the top life insurers in the United States and there are many competitors offering comparable life insurance plans. The Prudential Financial company has been in business for more than 135 years and offers several varieties of term life insurance as well as other life insurance products designed to help ensure family financial obligations are met if the named insured should die before he or she can pay off the debts. Prudential and many other insurers offer several options with no medical exam needed to obtain coverage. Rates are based on the age of the insured individual as well as mortality rates for people that age.

Prudential is a national provider of life insurance plans and has several subsidiary companies underwriting coverage. The Pruco Life Insurance Co. underwrites all Prudential life insurance products in every state except New York. In New York, the Pruco Life Insurance Co. of New Jersey underwrites all of the firm’s life insurance plans sold there.

Prudential has four types of term life policies designed to help families, businesses and other entities. Prudential’s Term Essential policy is a standard term plan that can be in force from 10, 15, 20 or 30 years with level premiums that do not change. The policy can be converted to whole life insurance if the policyholder chooses to do so.

Prudential also have a term life plan called the Term Elite, which provides term life coverage up to age 65 and can be converted to whole life. The PruTerm WorkLife 65 policy also gives coverage up to age 65 and can include additional benefits better explained by a Prudential representative. Prudential even offers a return of premium term life product that gives back much of the premiums paid during the life of the contract if the named insured outlives the term for which coverage is in effect.