• |
  • Jul 10, 2017

Brighthouse Financial Combines Protection with Growth Potential in Revamp of Premier Accumulator Universal Life Insurance

CHARLOTTE, NC, July 10, 2017

Brighthouse Financial, currently an operating segment of MetLife, Inc. (NYSE: MET) and one of the leading providers of annuity and life insurance solutions in the United States, announced today a significant update to its Premier Accumulator Universal Life (PAUL) product designed to offer greater flexibility and value for consumers. The revamp of Brighthouse Financial’s flagship life insurance product follows the expansion of its successful Shield suite of annuities in May 2017, and reflects the company’s focus on providing a tailored set of annuity and life insurance solutions.

First introduced in 2015, PAUL offers a powerful combination of death benefit protection with the potential to accumulate cash value. As a life insurance product, PAUL provides financial protection and stability for loved ones following an untimely loss of the insured. At the same time, PAUL allows the policy’s cash value to accumulate using interest crediting rates that are not directly linked to market performance and, thus, less sensitive to market fluctuations.

The PAUL update eliminates surrender charges, which are the fees paid when the cash value of a policy is accessed early. Elimination of these charges provides policyholders greater flexibility to use the money in their policies for planned and unplanned purposes—such as emergency funds—while any remaining cash value continues to accumulate within the policy. With access to more cash value faster than many traditional life insurance policies provide, PAUL enables consumers to have an exit strategy if their needs change.

PAUL also now offers a chronic and terminal illness rider with no premium charge and rider payments that are not reduced through discounting1. This rider provides that up to 75 percent of the eligible death benefit can be accessed in the event that the insured is deemed to be chronically or terminally ill, as defined by the rider, providing extra flexibility and protection for policyholders. A $250 fee will be assessed for each exercise of the rider.

"With the combination of protection and accumulation potential, PAUL addresses two important consumer needs,” said Myles Lambert, chief distribution and marketing officer, Brighthouse Financial. “From the start, PAUL has been a consumer centric product, and we believe the changes anno unced today will provide even greater value for customers, and the advisors who serve them."

Additional PAUL features include

  • Tax-free benefit for beneficiaries – The insurance paid when an insured passes away is generally income tax free.

  • Tax deferral – A PAUL policy’s cash value grows income tax-deferred, meaning federal or state income taxes generally do not have to be paid while it accumulates.

  • Tax-free access in case of illness — The Chronic and Terminal Care Rider allows for tax-free treatment up to certain IRS limits, should the policy’s death benefit be accessed under the terms of the rider.


About Brighthouse Financial
Brighthouse Financial is currently an operating segment of MetLife, Inc. (NYSE: MET), and a leading annuity and life insurance provider in the U.S. with approximately 2.8 million insurance policies and annuity contracts in-force as of March 31, 2017. Our mission is to help consumers achieve financial security by offering essential life insurance and annuity solutions designed to protect what they have earned and help ensure it lasts. Learn more at www.brighthousefinancial.com.

About MetLife
MetLife, Inc. (NYSE:MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.


For Media:
Meghan Lantier


Next Article In Newsroom and Media Resources
Brighthouse Financial Form 10 Declared Effective

MetLife, Inc. announced that the U.S. Securities and Exchange Commission (SEC) has declared Brighthouse Financial, Inc.’s Registration Statement on Form 10 effective.