MetLife has come up with a very simple product for the consumer. Rapid eUnderwriting! Here are the details on this very simple process to get your next life insurance policy.
What Clients Need to Know:
• Clients must be prepared for a detailed interview
(approximately 20-40 minutes) and will be expected to
provide personal information related to their health
and medical history, foreign travel, aviation, avocation,
driving history, etc. Clients will be asked a series of
questions to verify their identity
• The client will be asked for payment information during the
interview and should have his or her checking account
information on hand
• The client will also need to have beneficiary information
including name, relationship and date of birth

The Market
Underserved and under protected, middle income consumers
have an estimated coverage gap of $11 trillion, which represents
a $20 billion premium opportunity.1 MetLife is committed to
capturing the leading share of this market by offering a
consumer-centric buying and underwriting experience that
breaks down many purchase barriers. Consumers can feel
empowered and eager to get on the right path to financial
preparedness.
The program enables you to have better penetration in this
underserved demographic as well as enhanced freedom to spend
more time with larger and/or more complex cases.
Going Through the Rapid eUnderwriting Process
Eligible Clients and Product Details:
• Ages 18-40 applying for term coverage
• Face amounts of $100,000 to $500,000 (the total
face amount written in the past 12 months plus the amount
being applied for cannot exceed $500,000)
• Guaranteed Level Term coverage durations of 10, 15 and
20 years only
Riders2:
• Acceleration of Death Benefit Rider
• Disability Waiver of Premium
• Convertible Disability Waiver
Underwriting Criteria:
• Preferred Plus to Table D, including Preferred Smoker
and Standard Smoker
• Elite Plus class is NOT available
• Permanent flat extras up to $3.50 per thousand provided
the case is rated Table B or better
Cases within the Rapid eUnderwriting criteria must be submitted
through Express Order Tickets, quikMet, or iPipeline.3
(The Enterprise Application will not be accepted.) The process
is quick and easy. An offer can be made within 2 days of the
tele-interview.
For Producer and Broker/Dealer Use Only. Not For Public Distribution.
Guaranteed Level Term
Here is how the process works:
• The financial representative completes the ticket and forms
found in the Tele-Application Client Package, some of
which require a client signature
• The call center receives the information on the new
client within 15 minutes of data entry and a representative
reaches out to the client
• The client goes through a telephone interview process
that includes a combination of questions on health and
personal data. There is, however, no lab work or
paramedical exam required
• The client's application is underwritten
• The financial professional is notified of the decision and is
mailed the policy for delivery
Additional Details
• Normal product conversion rules apply
• Insured must be the owner at issue
• Beneficiary types are limited in most states4
• Temporary insurance is available if payment is made by
check or bank draft
• Normal payment methods available: Monthly bank draft,
Quarterly, Semi-Annual and Annual direct bill modes
and MIDAS5
• Payor Options: Payor other than insured available except in
Pennsylvania; requires payor signature on Electronic Funds
Transfer (EFT) paperwork
Rapid eUnderwriting is available in most
states as of March 14, 2011