NU Online News Service, Sept. 29, 2004, 5:30 p.m. EDT

MetLife Inc., New York, is increasing maximum life insurance limits for qualified applicants of all ages.[@@]

The increase, which applies to all MetLife products, will help applicants buy coverage with death benefits equal to 30 times their current annual income, even if the applicants do not have dependents.

MetLife says it is promoting a new “Human Life Value” approach to determining whether clients have enough life insurance.

Today, most advisors and carriers base analyses of coverage requirements by looking at financial needs or looking at the “dominant need,” MetLife says.

In some cases, young people who are starting out in their careers should take future earnings potential into account when buying coverage, the company says.