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New England Life Insurance Company
About the Company
New England Life Insurance Company is a MetLife company that is based in Boston, Massachusetts. New England Life's mission statement is "to be recognized as THE distribution channel of choice by financial service professionals, the advisor community and the affluent and small business markets."
MetLife was founded in 1863 by a group of New York businessmen who raised $100,000 for the National Union Life and Limb Insurance Company. The company has survived two World Wars, one Civil War, the Great Depression and a handful of other financially and socially tumultuous times; they continue to thrive today.
In addition to offering term life insurance products, New England Life offers permanent life insurance, long term care insurance, immediate and deferred annuities, and mutual funds.
Term Life Insurance Products
The following are a few features and benefits that New England Life insurance's term life products offer:
- Term life products are temporary life insurance policies. Most last five, ten, fifteen, twenty, twenty-five, or thirty years.
- Term life policies offer a death benefit if the policy holder passes on while the policy is in effect. If the policy holder does not pass on while the policy is in effect, no death benefit is paid.
- Many policies allow the insurance to renew their policy at the end of the term, or convert it into a permanent policy.
- Premiums for a term life policy are generally lower than premiums for a permanent life policy.
- Unlike permanent life policies, term life policies do not have a cash accumulation value.
New England Life Insurance Financial Ratings
Standard & Poor's: AA
Moody's: Aa2
Fitch: AA
A.M. Best: A+
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