Brighthouse Financial

Brighthouse Financial Reviews

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About Brighthouse Financial

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Brighthouse Financial is one of the largest life insurance companies in the United States. The company states its mission is to help clients achieve financial security, and it offers two core products: annuities and life insurance. The company is listed on the Nasdaq stock index under the symbol BHF.

Pros & Cons

Pros
  • Competitive rates
  • Minimal fees
  • Extensive coverage
  • Cash value buildup
Cons
  • Requires extra steps
  • Limited offerings

Brighthouse life insurance

Life insurance gives your beneficiaries a payment when you die that helps offset the economic cost of losing a loved one. Brighthouse offers three life insurance products:

  • Term life insurance: This product provides coverage for a set amount of years and pays a death benefit if you pass away during the covered term. Common terms for these plans include five, 10, 20 or 30 years. Term life insurance is ideal if you want to ensure you have coverage for a specific period of time or if you need a lower-cost financial protection solution.
  • Permanent life insurance: Unlike term life insurance, permanent life insurance provides coverage for your entire life. Many permanent life insurance products accrue cash value that can be used to supplement retirement income or fund your child’s education. Permanent life insurance products include whole life, variable universal life, universal life and indexed universal life.
  • SmartCare: Brighthouse Financial also offers a hybrid policy option called SmartCare, which combines a death benefit with long-term care funding. SmartCare features permanent life insurance (indexed universal care) that lets you choose between a fixed account or an equity index account to invest the cash value. This option gives you tax-deferred financial growth for retirement and provides a guaranteed death benefit as long as you maintain the premiums. You can choose to pay for a SmartCare policy in a lump sum or in installments across a determined payment schedule.

Brighthouse annuities

Brighthouse Financial annuities are designed to help you save for retirement and provide a steady stream of guaranteed income payments. Payments can be set up to start right away or at a future date, and they can last a specific number of years or for the rest of your life.

Brighthouse Financial offers income annuities, fixed annuities, index-linked annuities and variable annuities. You can only purchase Brighthouse Financial’s annuity products through a financial professional. Financial advisors can be found through your financial institution or through the FINRA BrokerCheck website.

Brighthouse prices

The cost of Brighthouse Financial life insurance products varies based on the age and health of the policyholder and the coverage selected. Policies with longer terms cost more than those with shorter terms.

Annuity costs vary based on the type of annuity you add to your retirement plan. There are several fees associated with buying an annuity, including administrative, add-ons/riders and mortality and expense risks. These fees vary by company.

Brighthouse Financial FAQ

Is Brighthouse part of MetLife?

Brighthouse Financial is an independent company that is no longer part of MetLife. The two companies are not affiliated.

When did Brighthouse Financial spin off from MetLife?

Brighthouse Financial completed its separation from MetLife on August 4, 2017. A few days later, on August 7, 2017, Brighthouse Financial was listed on the Nasdaq stock index under the symbol BHF.

Will Brighthouse Financial pay a dividend?

Currently, the company does not pay dividends on its stock.

Is Brighthouse Financial a good company?

There are hundreds of life insurance and annuity offerings on the market, but Brighthouse Financial does a good job of combining both products. Though the company requires you to hire a financial advisor, its team is helpful and provides additional assistance. Because Brighthouse Financial has competitive rates, minimal surrender fees and strong financial ratings, we think its straightforward products could be a good fit for many people.

Brighthouse Financial Reviews

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    How do I know I can trust these reviews about Brighthouse Financial?
    • 4,461,376 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 10
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    Customer ServicePrice

    Reviewed May 14, 2024

    Similar to the complaints of others, I can attest to the poor customer service experience, delayed annuity payments, and inaccurate online account details from sub-standard website. Back payment issues were fully resolved today, following repeated calls and promises by 'BHF' to expedite the requests to bring payments current. Total time taken to resolve 120 days. Communication to the annuitant: None. Apologies: None. Estimated cost of my time and that of others to hold BHF accountable and provide interest at a nominal rate of 5% that should be paid for their inconvenience over 4 months: $ 2,000.00. I'll draft my bill and 'expedite it' to Eric Steigerwalt, President and CEO.

    Customer ServicePrice

    Reviewed May 7, 2024

    Brighthouse Financial customer service is very poor, does not seem to value its customers. They have held up my annuity payment for a minor problem that could have been handled quickly by a phone call or a email, but was delayed twice by using USPS. It is my belief that this is done deliberately so as to increase their profit. Brighthouse Financial has about 219 Billion in assets, and approximately 2.6 Million Policies holders. They always delay my monthly annuity payment by 2 to 3 days, which is profit to them. For every $1000.00 payment delayed by them invested at 5% = $50.00 per year. $50.00/365days= .1369 cents interest per day. Assuming 500,000 policies holders delayed at .1369 cents per day = $70,000.00 daily PROFIT. No wonder they have 219 Billion in assets.

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      Customer ServiceStaff

      Reviewed March 1, 2024

      I purchased two annuities from Metlife that was later rebranded as Brighthouse Financial. Now I am trying to get information in order to make a decision on annuitizing my policies. It is a total disaster: the calls are answered by phone agents who are not competent, not trained at all, speak poor English on top of it. There is no way to get to a specialist to address questions! I am calling daily and speaking with different people. I am panicking big time because I have a lot of money at stake. Stay away from the company if you can. I am remaining slightly hopeful that I might see my money. Ever...

      Customer Service

      Reviewed Feb. 6, 2024

      Called to get update on ferderal required distribution information for tax preparation. All I needed was two numbers and the company's FEIN which they are required by Federal Law to mail to me by the end of January. It is February 6. No record of the form existed based on customer service in Manila. So, now I am waiting 6-10 days for request processing PLUS mail time to file for my refund. I would never knowing deal with this company again. The only thing they are proficient at is cashing your premium checks.

      Profile pic of the author.

      Reviewed Jan. 5, 2024

      Have a old contract ready to annuitize....Impossible! No customer support, endless holds online, endless repeating the same information. Nothing happens. Not sure why sec is not investigating this company.

      Customer Service

      Reviewed Dec. 27, 2023

      If I could give a "0", I would but it wasn't an option. I won't go into the details, but I will simply say that I was helping my 85 y/o mother who was trying to obtain an income statement from the pension she receives. 2+ hours, 3 different calls due to errors on BrightHouse's part, multiple departmental transfers (at least 9) and FINALLY got to someone who could find her account...only to be told that they cannot speak with her until they mail her a pin#. We need to call back when she receives the number, and only then will they speak to her. Ridiculous.

      Reviewed Dec. 5, 2023

      My late father had 3 annuity contracts with them when he passed away. I am the beneficiary on all of them. Each time I called to get information on how to submit a claim I got the run around being transferred from one department to another. Awful experience. I would never do business with them.

      Customer ServiceCoverage

      Reviewed Sept. 19, 2023

      There is no communication via phone or email. I switched bank accounts and autopay obviously lapsed. I had been traveling and didn't get a letter for missed payment due to this. No attempts were made via email or phone, both of which they have. I then sent them a wire transfer as well as an online payment, neither of which they are capable of confirming in their system via phone (it's always a concern when companies don't communicate in the current decade). As such, it's very obvious that policy lapses are considered a feature, not a bug, for Brighthouse. Their customer service was among the least helpful I have ever encountered and I wouldn't wish this company on my worst enemy. I also dug in and it seems impossible for me to update my autopay information through their portal, which is another fun system design to ensure more policy lapses for the company.

      Reviewed Sept. 6, 2023

      I had an insurance policy through this company somehow. Brighthouse stated that I had signed up in 2016. I went through 3 numbers and 4 disconnects just to find a policy number. Now they won't do any compensation? This is a garbage company.

      Staff

      Reviewed Aug. 22, 2023

      You have been told to be careful where you invest your money. BrightHouse is the company that you have been warned about.. They are strictly shuck and jive!!! They eventually will go belly up... Bankrupt!!! Their agents all have ** degrees in Shuck and Jive with their expert agents holding PHD degrees in ** the investor... If you want hours of frustration, being placed on hold and pure dee horse crap, then BrightHouse is for you...

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      Brighthouse Financial Company Information

      Company Name:
      Brighthouse Financial
      Website:
      www.brighthousefinancial.com