MetLife company evaluation and product introduction

By 1879, they targeted industrial workers as their target customers, and finallylife insuranceFound its own market and position in the field.By 1909, MetLife had become one of the best life insurance companies at the time, with a large number of life insurance customers across the United States.

In 1915, MetLife formed a company with a mutually beneficial structure, which meant that the company was not owned by shareholders, but by all policyholders.In 2000, the company reorganized its ownership structure and was publicly listed on the New York Stock Exchange under the stock code MET.

Today, MetLife is still a Fortune 500 company.It providesTerm life insurance.Universal insurance和Investment-oriented universal life insuranceAs well as participating whole life insurance products, they are also one of the few companies that provide basic life insurance services directly without medical examinations under a limited amount of insurance.

Apart from life insuranceDepartment, Metropolitan Life also provides dental insurance, disability insurance, annuity, auto and house insurance, and critical illness insurance.It is also involved in financial services, including paid planning services, retirement funds, 529 education programs and even mortgage loans.

—The following is the official company introduction of Metropolitan Life Insurance Company—

Brief history of the company

In 1863, a group of New York businessmen organized and founded the National Union Life and Limb Insurance Company (National Union Life and Limb Insurance Company), which began operations in July 1864. The newly established company was for sailors and soldiers who were disabled during the Civil War. Provided insurance money.This is a difficult start. At the end of 7, the company underwritten only 1864 life insurance and 17 accident insurance, ranking last among the 56 life insurance companies in New York State, with a loss of $27.

After five years of difficult operations, multiple reorganizations, and company name changes, President James R. Dow (a doctor of medicine) and the board of directors decided to abandon accident insurance business and focus on life insurance business.Since then, Metropolitan Life Insurance Company was formally established and started operations.

When MetLife opened its doors on March 1868, 3 (only a very small amount of insurance was sold that day), the telephone had not yet been invented, and electric lights were not common.The U.S. has a population of 24 million, with 3700 states.The company’s first headquarters consisted of two rooms, more than enough to accommodate six employees.

Survival of the fittest

The new company is also facing various difficulties. The Great Depression in the early 19s caused half of the more than 70 life insurance companies operating in New York State to quickly go bankrupt.Only those large-scale, long-established ordinary life insurance companies can continue to survive.In the following consecutive years, policy errors forced the company to tighten its finances. In the late 70s, the company's business reached a trough.

In 1879, Joseph F. Knapp, president of Metropolitan Life Insurance Company, turned his attention to the United Kingdom, because the industrial insurance business and workers' safety insurance business in the United Kingdom were very successful at that time.Due to the cost of office space and maintenance of the company's door-to-door sales of insurance business, weekly inventory of 5 cents or 10 cents, the United States did not open the aforementioned industrial insurance business at that time.

The rise of the MetLife agent

By introducing British agents to train the American agent team, MetLife quickly adopted the successful British methods to serve the United States.By 1880, the company had been able to sign more than 700 industrial insurance transactions in one day.The rapidly growing business volume quickly reduced distribution costs, and the new project quickly became a success.

The services of MetLife's agents have become an important part of the lives of ordinary workers.

MetLife's financial rating

Although the brand name is almost a household name, the financial health factor is more trustworthy.Relying on its safe and stable solvency, Metropolitan Life has received an "A" or higher rating from four authoritative institutions that rate insurance companies.The ability to obtain ratings from these four institutions has already proven the degree of market acceptance.

The following is the latest financial rating of Metropolitan Life Insurance Company, as follows:

• AM Best – A+
• Fitch –AA-
• Moody – Aa3
• Standard & Poor's –AA-

Life insurance product introduction of MetLife (Mingya Life)

Metropolitan Life provides the following types of life insurance products or services for groups and companies to help business owners plan their employees' life insurance benefits:

• Term life insurance
• Participating Universal Insurance (through Texas Life Insurance Company)
• Group Investment Universal Insurance e (GroupVUL)
• Group Universal Insurance (GroupUL)
• More…

And split the independent Mingwu Life Insurance to provide ordinary customers with the following 2 types of products:

• Term life insurance
• Universal Life Insurance: Premier Accumulator Universal Life®️

insurGuru©️'s evaluation of BRIGHTHOUSE FINANCIAL

Thanks to MetLife forU.S. Individual Life InsuranceThe separation of the market and the birth of Mingwu Life Insurance, we also need to understand the context and the relationship between the two.

The Wall Street Journal reported on July 2016, 7 that MetLife will implement a bold move to abandon the traditional brand name of the life insurance department for a century.Ready to use a new name: Brighthouse Financial, Brighthouse Financial.Although it seems that Metropolitan Life is trying to surpass its brand strategy, it is a bold challenge to give up such a familiar household name that has grown up with Americans.

MetLife is not just fromAmerican Life InsuranceThe market has disappeared, but it may not sell its life insurance products in the same way as in 2017.As mentioned in the previous product line, MetLife is more focused on providing life insurance services for enterprises and groups, while Mingwu Life, an independent listed company, operates regular term and whole life insurance services.