Advisors Blog

MetLife Product Changes and Reorganization Starting Feb 3, 2017

Published on January 19, 2017

MetLife has announced a number of key changes to their portfolio, including several product discontinuations as well as the spin-off of the new Brighthouse Financial company, which was announced earlier this year.

Many of the current MetLife life products will be discontinued effective February 3rd, 2017 including:

  • All Whole Life products.
  • All level term under $1,000,000.
  • All other ULs, VULs and SULs with the exception of the PAUL product.

The remaining products that will still be available for sale after Feb 3rd are as follows:

  • Premier Accumulator Universal Life (PAUL) – a UL designed primarily for cash accumulation, especially with large single premiums.
  • Term Life portfolio – face amounts of $1,000,000 and over only.
  • One Year Term.

Introducing Brighthouse Financial

MetLife is in the process of spinning off a substantial portion of their U.S. retail business into a new company called Brighthouse Financial which will sell and administer all new life sales. Brighthouse will issue the products listed above as well as any new products created in the future. All whole life will continue to be administered by MetLife, not Brighthouse.


Conversion Opportunity - Prior to Feb 3, 2017

As the guaranteed GUL product (Provider Universal Life) will be discontinued shortly, this is a last-chance opportunity to CONVERT an existing term contract to GUL with guaranteed rates, especially if you have MetLife clients with changes in health or who are nearing the end of their convertibility period. Please contact your GBS representative to discuss opportunities and pricing.


Click here for the complete bulletin on Metlife and Brighthouse Financial.

Below is the full text of the recent MetLife memo with transition rules and deadlines. For a PDF version of this announcement, click here.



December 7, 2016


Effective February 3, 2017, MetLife will sunset the following products:

  • Promise Whole Life
  • Promise Whole Life 120
  • Promise Whole Life Select 10
  • Promise Whole Life Select 20
  • Promise Whole Life Select 65
  • Guaranteed Level Term (face amounts less than $1M only)
  • Secure Flex Universal Life
  • Provider Universal Life
  • Legacy Advantage Survivorship Universal Life
  • Equity Advantage Variable Universal Life

Key dates for this product sunset are as follows:

  • February 3, 2017 - Applications must be received in good order at the Home Office by this date.
  • March 3, 2017 - Applications for term conversions that do NOT require underwriting must be received in good order at the Home Office by this date. The February 3, 2017 application deadline applies to term conversions that do require underwriting. 
  • April 28, 2017 - Issue deadline. 
  • May 26, 2017 - Payment deadline. 

Brighthouse Financial will offer the following life insurance products:

Following the separation of U.S. Retail, Brighthouse Financial will make the following life insurance products available for sale. These products will not differ from the current MetLife versions as of the date of separation:

  • Premier Accumulator Universal Life
  • Guaranteed Level Term (minimum face amount will equal $1M)
  • One Year Term

Note that applications for these products can continue to be submitted after February 3, 2017. For applications submitted after this date, policies will be issued by Brighthouse Life Insurance Company (or Brighthouse Life Insurance Company of NY). However, a Metropolitan Life Insurance Company policy will be issued for term conversions for which applications are submitted in New York on or before March 3, 2017 and underwriting is not required. Premier Accumulator Universal Life and Guaranteed Level Term will no longer be sold by MetLife as a result of the U.S. Retail Separation.




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