Consumer Complaints and Reviews
My wife and I got MetLife "Flexible Premium Universal Life" policies in 1986. The agent suggested these were great policies because the policy could increase in value over time. The sales pitch was extremely deceptive. After paying premiums for many years (approximately 29 years overall), at age 70, the premiums started to increase "because of age". I was told that it costs more to administrate a policy after age 70. Why? We received a letter that the plan was deficient and money was required to keep it in effect. It was determined that we had a cash value of less than $300. So, we paid the difference and increased the monthly premium to over a $100 more per month.
Now, we are deficient again and the monthly premium is to go up another $80/mo. The premiums are now more than my mortgage payment was. A MetLife customer service representative stated that premiums will continue to increase until age 95. The cash value will continue to be near zero, but the death benefit would be $70,000. If we pay less than the adjusted premium, the policy would be terminated as we have already received notices even though make the required monthly payments via auto payment.
It gets better. After a very extended conversation, the customer service rep stated there was another option. This did not come up years ago when we had a similar conversation. I could keep the policy in effect because "MetLife offers a reduced paid-up option less loans and withdrawals." I have no loans or withdrawals. I would have to file a form to accept a much reduced amount at death (less that if I had put this into a simple savings, no interest account). So, we chose to take this option as opposed to being bled dry financially. Not so fast. We received another letter explaining the opt out provisions. To date, the plan does not qualify. Here is an excerpt quoted from the letter:
"We reviewed your policy and determined that as of December 5, 2016, the policy is not eligible for the option as there is a $929.46 shortage in the cumulative planned premium. In order to be eligible for this option, you must send the $929.46 shortage by January 8, 2017 to the address below: MetLife. PO Box 371351. Pittsburgh PA 15250 7351. To maintain eligibility, you must pay the monthly planned premium of $929.46 beginning no later than February 8, 2017. You must continue to pay by the 8th of each month until you receive the notice that your policy will lapse.
"The Notification of Pending Lapse will confirm the policy eligibility. If these requirements are met, and no loans or partial cash withdrawals are taken, the policy will lapse and be placed on this option in approximately 7 months. The Endorsement will be mailed to you to keep with your policy. The death benefit is equal to the net cumulative premiums paid at the time the policy lapses. The policy will no longer have a cash value, cannot be surrendered, and will only be payable upon the insured's death. As of December 5, 2016, the total net premiums paid into the policy equal $26,098.92."
The cash value of this policy as of this date is $178. 73. I ask the MetLife rep to explain the terms in the letter. My question was, am I to pay $929.46 by Jan, 2017 and then another $929.46 per month for another "approximately" 7 months to have $26,098.92 paid to my estate on my death? The answer was affirmative. That's over another $7,500. I have paid premiums taken directly from our checking account for years. When advised I was deficient, we paid the balance and increased the premium. In the past several years, we have paid over $2,100 annually. This has turned into a money pit with no bottom.
On each of the calls to MetLife customer service, the reps have stated the agents misrepresented the policy and this policy is not longer sold. But it was a plan devised by MetLife and MetLife continues to bleed the customers knowing it was a bad product. Yet MetLife, for those in this plan, continues to reap the profits off the backs of the elderly. It is not until life insurance can no longer be gotten that they drop the hammer. The MetLife customer service reps did offer a bit of advice. I could contact a MetLife agent and see if I could get a lesser valued policy. And my response was that I should trust MetLife or one of their agents? When we opted for MetLife life insurance, we felt that this was an honorable company. It appears now that the company is trying to get customers with this policy to default because they can no longer afford it on a fixed retired income. Great for the bottom line, bad for the people that believed in them.
I received MetLife Long Term Disability as part of a benefit from my prior employer. We had a 5 year contract with MetLife (who my former employer on longer uses) and if we became disabled MetLife will pay a full 5 years of part of your income. They just suddenly decided in September that my time period ran out. I contacted them and they said "You only had a 43 month contract." I've never heard of any payments being for 43 months. I now have my employer help me continue to receive my last year of benefits.
A few days ago, when I spoke to my employer again she said MetLife told her my 45 month contract was up in September. They can't even keep their lies straight!!! I am so thankful I have my employer backing me up because MetLife will not honor what they were paid to do. If you pay for MetLife out of your pocket FIND ANOTHER COMPANY!!! If you just do a Google search you will find so many people ripped off by MetLife & if you have to get your own attorney that will take even more money out of your pocket. I am very lucky to have had this as a benefit of my employment!
Timeline - Nov 14, 2016 6:39 pm. MetLife blatantly discriminates against people with non-life threatening chronic illness when considering them for even the smallest life insurance policy. Applied for a 15k life policy for myself in addition to my husband's larger policy he receives through his work. Just received a letter saying they turned me down based on my history of Multiple Sclerosis.
News flash MetLife, if you look into it, MS does not shorten your life. Statistically people with MS live just as long as anyone else does. Also, I had your damn life insurance last year, with the same MS. The only difference is that this year, you added a box on your renewal form asking if I had it, and I was truthful. In short, screw you people. I am looking forward to the eventual downfall of insurance giants like you. Keep up the immoral BS and it will occur sooner rather than later.
I have been with same company for 16 years. Was never sick until I was sick which has been about the last 2-3 years. I have missed a lot of work and they seem to find reasons such as never received Dr.'s paperwork, or didn't meet the exact working they required. They fight until people want to give up or are forced to go back to work. I unfortunately can't go back to work. They now owe me about $15,000. I am the breadwinner and now am about to lose my home. There has got to be someone out there who cares. We need to unite and fight as a class not as individuals with no power. Lots of changes have been made with the power of many and their stories. Contact me if you would like to talk about possible other options.
After my husband had worked for a company for 39 years with the same life insurance plan, he had to retire with a disability of True vocal Cord cancer. Metlife reevaluated his benefits and decided to jack up his rates and offered us 25k for 178.00. NEVER do business with this company, cold hearted.
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I canceled my life insurance with MetLife because I found a better policy with another company. They took a payment after cancellation. 2 days later they put it back but it was too late. That caused an insufficient fund, overdraft fee on my bank account which caused another insufficient fund. And so forth. They should be paying me back for the overdraft fee $35.00.
My Husband purchased this policy almost two years ago. It was paid every month. Now MetLife claims it hasn't been paid in five months. No letter and 500.00 to reinstate. They are shysters. Now he has to shop around for a new Co. How have they stayed in Business!! They claim they sent letters. Not true. Did they call, NO. He had trouble with them almost Six months into the policy. First they would say there was no money in the account then it was something Else! The funny part is that so far I haven't had any problems yet!!!
Attention please! This company's goal is get the premiums and never pay you when you need it. I paid for long term disability for 14 consecutive years. When a life threatening accident happened and I lost my job due to inability to work 10 hours a day - they denied my claim. In the past I encountered problems with dental insurance, these were minor compare to disability insurance. MetLife does everything possible to deny your benefits. Literally anything goes...I agree with the majority of the latest reports - everybody gives the lowest rating. I give the rating below one star. Stay away from METLIFE! Apparently, MetLife is famous for not paying. If your employer offers any other insurance company - go for it.
I have invested 15 years of my hard earned cash into MetLife insurance policy. When I signed up I was told by the agent it was a whole life, not reading the fine prints, it turned out to be a flexible premium multi funded life. Everything was fine until I retired, and once I started going down in age they ripped me off by changing my premiums without my consent and raised it so high that it is impossible to hold on to after investing all my money into their policy. They would not accept payments until the dates passed so they have a hold on you. It's a scam to thief hard working poor individuals. SHAME ON YOU METLIFE. YOU ARE STEALING FROM THE POOR.
My father was a NRI, he deposited his hard earned money of about 9,00,000 INR in my mother's name (pension scheme) with false promises made by this people. They told us that after paying this 9,00,0000, first month onwards we will get 5,000 RS for 15 years and after that we will get the deposited 9,00,000 INR plus bonus... My father avoided them several times as we were not at all interested in this private insurance agencies. But somehow he was forced to join by believing them. After paying the money in several years, the first month onwards every 28th we were getting that 5,000 RS but after 3 months my mother was died because of cancer.
And that point only we came to know that, since my mother was no more there is no benefits, we will be getting that only 5,000 RS for 15 years that all... There is no sum assured, bonus or nothing... And after making so much shouting and all they passed 2.75 lakhs as some hell... and nothing more or anything. They don't keep their word. My mother had insurance with SBI and LIC... no such issues or anything with them. So pls take my word. This is the most fraud agency I ever SEEN. THEY KNOW HOW TO MAKE MONEY OUT OF US. DON'T EVER EVER GO WITH THEM. SOMEHOW THEY WILL CHEAT YOU....
I would like to warn all seniors from using this despicable thieving company. This company MetLife quotes you one price then charges you another. Don't give them your bank account information. They will bill you when you don't authorize them to. When you call to complain they delay and delay and delay and never call you back. They will steal your money like they did me. They are despicable - look elsewhere for your life insurance and all insurance needs. If you have any policy with this thieving awful company cancel it.
I have had a terrible experience with MetLife. As stated in previous posts representatives for this company continually lie to you. I have disability insurance with MetLife through my employer. I would never recommend this company to anyone. My agent Victoria (Vicky) ** is an incompetent liar. I was supposed to get paid weekly. I call her ask what's ongoing. Then she magically sees the medical reports in the system. Every time I call her it's something different. This last time I was supposed to get paid before the July 4th holiday. I haven't received a check in 2 weeks.
I called to speak with a supervisor. Suzanne which was no help at all. She explains to me once an action has been put into the system. She cannot override it. What was the purpose of her returned call if she was not going to assist me was useless. I explained various issues I've had. She didn't acknowledge not one concern. Overall, this company will not acknowledge any wrongdoing. It's sad when you're on the receiving end of such harsh treatment in your time of need.
I was in an accident with a MetLife auto insurance carrier on 5/27/16. I obtained an estimate, as advised to do by MetLife claims adjuster, Wanda **. After a week without receiving payment I contacted this agent and she had the wrong address because no one thought to verify the correct spelling of the address. She canceled the check and stated that a new one was issued and sent out. When a week went by without payment and I paid out of pocket for repairs, I contacted Wanda and she gave me a date that the check was sent out. After 2 weeks and still no check, I just called today and spoke with another agent who advised that "someone" dropped the ball and a check was never sent out. I am very annoyed with how incompetent these people are and how nonchalant this Wanda ** is because of course it was not her car that was in an accident.
My mother had a life insurance policy with this company. Upon learning that she was terminal she contacted MetLife to make sure that her policy was altogether with no missing premiums and she was assured that all was well. She also explained that she had ask me her only child to be her caretaker and that the policy would ensure that all her services would be paid for and I wouldn't be homeless. Again the agent told her that everything was good with het policy. The day she died I called in for the funeral home to make sure they could take her body and they too had been lied to. My mother had no service with policy, no paying out the funeral home, cremated her gave me the bill and her home and car was all lost and I her only child who left my home in another state to take care of my mom and also I left a marriage and small business have nowhere to live and never have I been able to pay the funeral home or paid her just respects.
My husband and I paid for a $250k life policy. When he passed away in 2004, I contacted MetLife to tell them. I was advised that there was no policy. I sent them all the proof, they confirmed receipt but then months went by and heard nothing. I called again and they now tell me no paperwork was received. We paid for this policy for over 40 years. I will never stop fighting for what's right. I've tried everything, haven't gotten one person to admit that obviously someone made a mistake somewhere. I've been fighting for 12 years from 2004 and have no closure regarding this matter.
My life has been a nightmare starting several years ago in 2011 when I found out MetLife works with hitmen to kill Americans for their life insurance. Every single day of my life I am scared. I'm being harassed and told I will due if cancer. The CEO Steve Kandarian and the entire executive office and fraud department know about me, yet they won't sit down and as I offered solutions to their problems. They plan on laundering money. Being a victim of this crime is the most cruel horrific experience you could imagine. No death is worse that the one I am experiencing. Every day of my life I live in total fear. I am being stalked. The reason I was harassed is because MetLife hoped I would collect on my ex-husband after they killed him. They told me I wasn't a true American if I said no. I was beaten, raped, had my car stolen, all my belongings taken and I was illegally detained by organized crime because I said no.
They thought they could treat me like a prostitute. I contacted the FBI. They haven't done anything. They told me to go to Manhattan. I did. MetLife turned me away stating that I had to make an appointment. I call often and they tell me Kandarian will call me if he wishes to, which he never does. After going to the FBI, they yelled at me and said I am a person who lacks credibility. They told me never to come back. Every day I am getting harassed. I'm told I will die of cancer or another means by 2016 and that the police and American public are too complacent to care. No human being should ever be treated this way. What happened to me makes Hitler look like an angel. If MetLife going to put a hit on someone put a hit on someone. Don't torture them. MetLife is committing crimes against humanity. They are a truly terrible company.
I know you won't publish this. I wish someone would please pay attention to what I am saying. They are drugging people and forcing them to sign these policies, then killing people in the most heinous disgusting ways. No one will ever know the nightmare I am going thru. I have a tattoo on my arm and even that doesn't help. It reads: Life Insurance Fraud. I wrote some laws to prevent this crime. The complacency in the govt and in Wall St and with other people is astounding. Does anyone realize they don't actually have to kill people? I wrote some laws and ideas about it. Well, people will earn the future they want which is a future of thousands and thousands of more people getting killed, because no one wants to do anything about it! It could even be your daughter.
My mother is going strong at age 97, so I was surprised to receive a notification of tax withholding concerning a life insurance policy she purchased approximately 30 years ago naming me as beneficiary. Her understanding was the policy was straightforward, benefits payable upon her death, and non-taxable. I contacted the person who sold her the policy. He informed me the policy had "matured." I spent considerable time on the phone with "customer service" people, attempting to get my questions answered but was put on hold for long periods and shuffled from one to another. I re-contacted the salesperson who had an assistant contact MetLife. They e-mailed her a form I would need to fill out to collect the benefit. She mailed it to me and after filling in the required information, mailed it to MetLife.
Some time later I received a letter stating the policy had "matured" last June (with no notification to me at any time) and the money placed in unclaimed funds less than a week later. Attached to this letter was a form identical to the one I had already filled out with a request to also send them a copy of the policy. I re-contacted the salesperson whose assistant called MetLife again. I then received a call to say a check had been mailed to me. I have yet to receive it. Take note that many positive MetLife reviews are written prior to being faced with untangling a frustrating and unprofessional situation like this.
RUN, don't walk away from MetLife. My mother (died 1/5/15) and had some small amount of money in the three departments (divisions) listed in the subject line. It has been a nightmare dealing with them. Phone calls that seem to go nowhere. Forms which require gold medallion signatures, information I really couldn't comprehend from one of the divisions which was sending her a small amount each month, then decided to take it back (seems it wasn't really an annuity, but some sort of pension issue), but they only took back a few months. On the same day I finally received the Life Insurance check (approximately $3800), I received the papers (once again) to complete (once again) to receive the life insurance check. As per usual, after a phone call, I was told they were having difficulty.
Most recently I sent in the Computershare paperwork (gold medallion signature required), copy of trust, paperwork for a substitute W-9 form, a death certificate (I can't even remember who needed what and where it went but I sent lots of documents). Apparently, on the Computershare paperwork, I neglected to fill in a date about the trust. Back to square one. They won't send the papers back to me to fill in that date and they want $50 from me if I don't get another gold medallion signature (which is a pain in the neck) -- and I still have to fill in all the paperwork yet again (for $973). I'm thinking my mother's estate will just contribute that to the State of California.
I still haven't even begun to deal with whatever annuity is there. No single person at MetLife understands the different departments; however, they all very nicely offer to transfer you to another person who very nicely "reads the rules." In fact, they refer to "rules" quite a bit in their phone conversations. In handling my mother's estate, I dealt easily with selling her house, some largish Morgan Stanley and Charles Schwab accounts and the State of California. MetLife is a company I would strongly caution against.
My stepdad died in Nov 2015 and had a life insurance policy with this company. Here it is Feb 2016 and they are still "reviewing" the policy and determining who the beneficiary is after all of us have sent in our claim forms and even paperwork from 2011 he had saved showing he had updated his beneficiaries. Yeah, these insurance companies get on you when you don't pay your bills, but when it's time for THEM to pay... it's a different story.
I have had MetLife insurance for 9 years. I have never had a problem with this company. As it is life insurance and I am still alive I cannot speak personally in claim payout but I have known others who unfortunately have had to file a claim on behalf of a loved one. The feedback I received was very positive giving me peace of mind in my choice to use this company. MetLife is a reputable company with years of experience. I am very comfortable in my decision. This is a company with a good reputation and a name that can be trusted.
I was having trouble getting actual information concerning my policy. Even though the reps were nice on the phone but ill-informed on policy. Every question I asked - especially the one about why I've had various premium amounts on my policy for the past few months - was only answered with "I will have to call you back with that information". After days passed I received no callback nor was my questions answered. Then on top of that I requested a review of my life insurance policy - which I acquired thru my employer. To my surprise the following is what I found out:
Policy cancels (on its own) by age 80 yrs. for me and 70 yrs. for my spouse. (So I guess I need to die before then in order to receive my funds.) Policy payout reduces by 50% (on its own) by your 20 yr. mark within policy. So my 1 million dollar policy becomes a 500k policy by time I'm in my mid 50s. (So now I guess I need to die by time I reach my mid 50s if I want my family to receive the amount I've been paying into for the past years.) I'm completely shocked and disappointed that this company's practices is still going strong. I highly suggest all that brought into this fairytale to request a review of what your policy really gets you before it's too late. Currently I'm looking into finding a new plan with someone else as well as other options.
My life insurance is with MetLife. I also have a policy with Liberty Mutual through my employer. But I consider MetLife my fall back for my family if needed as jobs come and go. I guess the Peanuts when I was growing up sold me on the company and since then I have just always used them even though I will be gone before I know if they did what they say they will do. Strange really. I like to have two to three small one around just in case so my wife does not have to worry and I think met life is a strong company with a future. Also I like the Peanut ads that they run as it brings back memories of simpler times... Thanks.
My policy is through my employer and I've bought up as high as I could to increase it. As the economy was "tanking" my employer had to cut costs: dropped health and dental insurance, removed vacation and sick pay, laid off a lot of personnel and cut the hours of those of us who were left. Life insurance however is 1 area he kept. He said the company is quite good, and willing to work with us.
The cost is very affordable, however trying to navigate thru the automated system to talk to someone is not very user friendly. When you do finally get to speak with someone, they are quite nice, but we were not given the correct information and by asking just a question pertaining to another auto insurance company, they assumed we wanted to cancel with them and we had a little mess to fix, but it was all worked out and we still have Metlife.
I have been with MetLife for approx. 10 years. I love them and will never change unless I just didn't have a choice. If they went out of business then I would switch. But just to go to another company, no. They are so helpful and kind. I feel lucky to have found them when I decided to purchase life insurance. My grandmother had them for as long as I can remember. They gave her stock long ago. For being a loyal customer. I'm not sure if they do that anymore, would be very cool if they did. But I am very satisfied with them.
I absolutely love Metlife. They are very nice and very informed. Last year we had to have the roof repaired on our camper due to a branch falling on it. The adjuster was there within 48 hours, met my husband and gave him an estimate. They worked with us getting it to the dealer and back. No hassles. Just recently I called and asked them if we could change the due date on our policy, again no hassle. I really enjoy working with them.
My mom worked for this company for 39 years, and she was proud of that. Even though we lost her this past July, I continue to hold onto the life insurance policy she had for me and my husband and I are going to transfer ownership to us as soon as the estate gets into probate.
I had a good experience with the MetLife agent I was working with. The agent spent time going over the life insurance policy and which one he recommended based on my personal situation. I'm able to go online to check my life insurance policy. One thing I would like to see improve is receiving more communications regarding my policy because I only receive an update in the mail annually.
Life insurance is a necessary evil, basically like all insurance. Most people go their whole life without benefiting from insurance. The cost vs the claims. I personally can say that I have benefited from my auto insurance, but not from my home insurance. Life insurance is basically for those you are leaving behind, so they can pay your funeral expenses and continue to live the life before the death.
MetLife is a great company. It is a great insurance company have for someone who need life insurance, but is on a budget. Their decisions to accept someone for life insurance is very quick. You only take a couple of tests and then you are all set to go. Their customer service skills is great. Anytime you have a question or concern, they are right there to help you swiftly. They understand their clients' need and they do their best to get their clients' issues resolve in a timely manner.
Neal FrankleLife Insurance Contributing Editor
Neal Frankle is a Certified Financial Planner in Los Angeles. He is the publisher of WealthPilgrim.com, an information resource for consumers. He has been a professional financial advisor since 1991 and is the editor of www.MCMHA.org.
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MetLife, Inc. is the holding company for Metropolitan Life Insurance Company (Met Life). The parent company (MetLife, Inc.) is one the largest insurance sales companies in the world. MetLife, Inc. has over 90 million customers in over 60 countries and started their business in 1868. MetLife, Inc. is headquartered in New York City.
- Wide range of products: Besides offering a complete line of life insurance, Met also sells auto, dental, disability, long-term care, and small-business insurance.
- Competitive: Met is often very competitive in a variety of different product markets.
- Convenient: Provides one-stop shopping for customers who value that service.
- Convenience: Customers may become complacent and opt for the convenience of having one company handle all their insurance needs rather than shop for the best product for each area.
- Risk: Having one company provide all the insurance needs for an individual or company increases risk.
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MetLife Life Company Profile
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