MetLife Inc. has introduced 1 universal life policy and announced 2 UL product update initiatives.[@@]
MetLife, New York, has started selling the Universal Advantage Universal Life product, a policy designed for consumers who want slow, steady growth in policy value but more flexibility than they would get from a whole life policy.
MetLife also is updating its Guarantee Advantage Universal Life individual life policy and its Legacy Advantage Survivorship Universal Life policy.
The Guarantee Advantage policy is designed for customers who want to get as much life coverage as possible, and the Legacy Advantage policy is designed for customers who want to leave legacies to heirs.
MetLife now will offer a Guaranteed Survivor Income Benefit rider with both policies, to give customers a vehicle for leaving lifetime income streams for policy beneficiaries, the company says.