It’s never easy to talk about life insurance. You’re discussing what happens after your death. It’s something that you might prefer to avoid, but leaving financial security for your loved ones is one of the most meaningful gifts you can give. Brighthouse Financial offers life insurance policies which provide a tax-free payout upon your death.
Brighthouse Financial offers two types life insurance products: annuities or life insurance. Annuities are a great way to save money for retirement, and provide a steady income stream that will help you protect your savings. You can set up payments for a certain number of years or the rest of your lifetime.
In the event that you die, life insurance will pay your beneficiaries. Brighthouse Financial offers both permanent and term life insurance.
Brighthouse Financial life insurance
Brighthouse Financial was a long-standing company that had to go through many changes before it became what it is today. It can be traced back to Travelers Insurance Company which was established in 1863. MetLife eventually bought Travelers Insurance. MetLife spun off the company in August 2017 and Brighthouse Financial, Inc., a separate, publicly traded company, was created.
Brighthouse Financial life insurance policies can only be purchased through a professional financial advisor. Brighthouse Financial has both permanent and term life insurance options when it comes to insurance. Term life insurance covers you for a set number of years. For example, 1, 10, 20, or 30 years. If you die during the term, your beneficiaries will be entitled to a death benefit.
Permanent life insurance covers you for the rest your life. It includes whole life, universal life, variable universal and indexed universal. You can also convert this type of life insurance into cash value, which you can use throughout your lifetime.
Types of coverage
Brighthouse Financial offers a variety of life insurance options. You have the option to choose coverage for a specific period or for your entire life.
Term life insurance
Brighthouse Financial offers two term life insurance policies. Fixed premiums are available for term life insurance policies. Brighthouse offers a One-year Term policy, with an optional rider that allows you to extend your policy up to five years. The contract can also be converted to a whole-life policy.
Brighthouse SimplySelect provides guaranteed coverage life insurance protection for 10, 20, or 30 years. This product is easy to purchase and does not require any invasive testing.
Permanent life insurance
Brighthouse offers a One Year term convertible policy. Brighthouse also offers SimplySelect which can be converted to whole-life.
Hybrid insurance for life
Brighthouse offers an index universal life policy, which combines long-term and life insurance. It is called SmartCare. The policyholder can also use part of the death benefit for long-term care. This means that your beneficiaries will not receive the entire payout. Instead, the payout is reduced by the amount you used for long-term care after your death.
SmartCare offers a simple and quick purchase process that does not require any invasive testing. You can also get an expedited underwriting process. SmartCare offers long-term care benefits. Each policy includes a Long-Term Car Acceleration of Death Benefit Rider. This benefit covers long-term healthcare needs for the first two year and an Extension of Benefits Rider provides long-term benefits payments for two to four years.
Brighthouse Financial reviews, ratings, customer satisfaction, and complaints
Research is a key part of choosing the right life insurance policy. So that your loved ones receive payments in the future, you will want to select a company with solid financial ratings. It’s important to assess the customer’s opinions about the company and its ability to pay claims. A life insurance policy that is trustworthy and credible also has high ratings.
Brighthouse Financial is a great choice
J.D. Brighthouse customer ratings Brighthouse’s customer ratings from J.D. You can also use SimplySelect or SmartCare to expedite a life insurance application. This allows you to skip the lengthy underwriting process and the extensive testing required by many other insurers. Brighthouse is also one of few insurance companies that offers long-term care bundles as part of a policy for life insurance.
Brighthouse Financial’s term insurance is worth considering if your goal is to get the highest death benefit at a lower price and to have funds available for a specified time. Permanent life insurance is better if you want to increase cash value and then use that cash value to pay retirement income, or for other purposes.
Brighthouse Financial offers additional features
Brighthouse Financial has riders you can add on to your life insurance policy.
- Accelerated Death Benefit — Allows you to use part of your policy’s funeral benefit to cover living expenses and medical care if you are diagnosed with a terminal disease.
- Convertible and renewable options riders — This Rider extends your coverage for a one-year policy to five years. After one year, you may convert to Brighthouse Conversion Whole Life.
Questions frequently asked
Which is the best life-insurance company?
There are many life insurance companies, so it is difficult to know which company is the best. It is important to look at customer ratings from J.D. in order to determine which one is the best. Power, the Better Business Bureau, and an analysis of a life insurance company’s financial strength as reported by Moody’s or AM Best, Fitch, or S&P Global.
Which is the best life insurance?
Term life insurance is usually cheaper than permanent insurance. A term policy pays only when you die. It has an expiration date. Permanent life insurance policies are more costly because they provide a death benefit for your beneficiaries as well as access to an interest-earning cash account that you can access while you live.
Is the Brighthouse Financial life insurance payout taxable
Most cases, the money that your beneficiary receives is exempt from tax. Your death benefit of $500,000 means that your beneficiary will get $500,000 and not have to declare the income.
What is life insurance?
A life insurance policy is vital if you are the sole breadwinner of your family or have to care for young children. A life insurance policy can help your family members who depend on you to pay for your funeral expenses and other debts. It also helps to ensure that they are financially secure while they adjust to the changes.