Auto Insurance in Fulton, Missouri

Auto insurance is a critical aspect of responsible vehicle ownership in Fulton, Missouri. Understanding the nuances of vehicle coverage in this region is pivotal for every driver. Car insurance not only provides financial protection but is also a legal requirement, with specific obligations that drivers must adhere to in the state of Missouri.

Understanding Vehicle Coverage in Fulton

When it comes to vehicle coverage in Fulton, Missouri, drivers must comprehend the various aspects of insurance policies available to them. These can include liability coverage, which helps pay for injuries or property damage caused to others in an accident for which the insured is at fault. Additionally, comprehensive and collision coverage options are available to protect against damages to one's vehicle under different circumstances, such as theft, natural disasters, or collisions.

Importance of Car Insurance in Missouri

Car insurance holds paramount importance in Missouri, and Fulton is no exception. Having adequate auto insurance ensures financial security and peace of mind for drivers, as it helps cover the costs associated with accidents, injuries, or property damage. Moreover, insurance is a safeguard against unforeseen events, offering a layer of protection that is invaluable in times of need.

Legal Requirements for Auto Insurance

In Missouri, there are specific legal requirements regarding auto insurance that all drivers must meet. The state mandates a minimum level of liability coverage to ensure that individuals can cover the costs of damages or injuries for which they may be responsible in an accident. Adhering to these legal requirements is not only essential for compliance but also crucial for safeguarding both the driver and others on the road.

Factors Influencing Auto Insurance Quotes

Obtaining an auto insurance quote in Fulton, Missouri involves various factors that insurance providers take into consideration. Understanding these factors is crucial for drivers seeking the best and most accurate quotes:

1. Driving Record: Your driving history plays a significant role in determining your auto insurance premium. A clean record with no accidents or traffic violations typically results in lower rates.

2. Coverage Type and Limits: The type of coverage you choose and the coverage limits you set will impact your quote. Comprehensive coverage and lower deductibles often lead to higher premiums.

3. Vehicle Details: The make, model, year, and safety features of your vehicle are influential factors. Safer and more reliable cars usually result in lower insurance costs.

4. Credit Score: In some states, including Missouri, your credit score can affect your insurance rates. Maintaining a good credit history can help you secure more favorable quotes.

5. Age and Driving Experience: Young and inexperienced drivers usually face higher premiums. Conversely, older, more experienced drivers may enjoy lower rates.

6. Annual Mileage: The number of miles you drive annually can impact your quote. Lower mileage often translates to lower insurance premiums.

7. Location: The area where you live can affect your rates. Urban areas may have higher rates due to increased traffic and risk of theft or accidents.

Comparing Quotes for the Best Rates

Once you've gathered quotes from different insurers in Fulton, Missouri, comparing them is essential for finding the best rates and coverage for your needs:

1. Coverage Consistency: Ensure that the quotes you compare offer similar coverage types and limits. This allows for a more accurate assessment of the cost differences.

2. Deductibles: Examine the deductible amounts for each quote. Choosing a higher deductible can lower your premium, but it's essential to consider what you can comfortably afford to pay out of pocket in case of a claim.

3. Discounts: Check for available discounts. Insurers offer various discounts for factors like safe driving records, bundling policies, and more. Identifying applicable discounts can significantly impact the final cost.

4. Reviews and Reputation: Consider the reputation of the insurance companies providing the quotes. Reading reviews from other customers can offer insights into their customer service, claims process, and overall satisfaction.

5. Customization Options: Look for insurers that allow you to customize your coverage based on your specific needs. Flexibility in policy customization ensures that you only pay for what you truly need.

Navigating Fulton Missouri Auto Coverage

Understanding the intricacies of auto insurance coverage in Fulton, Missouri, is essential for responsible and protected driving. This section delves into the various types of coverage available, the minimum requirements mandated by Missouri law, and additional coverage options that residents in Fulton might consider for comprehensive protection.

Types of Auto Insurance Coverage: Auto insurance coverage isn't one-size-fits-all, and drivers in Fulton have a range of options to tailor their policies to their specific needs. Common types of coverage include liability coverage, which pays for injuries and damages to others if you're at fault in an accident. Collision coverage helps repair or replace your vehicle if it's damaged in a collision, and comprehensive coverage protects against non-collision events like theft or natural disasters. Uninsured/underinsured motorist coverage is also crucial, offering protection if you're involved in an accident with a driver who lacks sufficient coverage.

Minimum Coverage Requirements in Missouri: Every state, including Missouri, has its own set of minimum auto insurance requirements. In Missouri, drivers are obligated to carry liability insurance that includes at least $25,000 in bodily injury coverage per person, $50,000 in bodily injury coverage per accident, and $25,000 in property damage coverage. Adhering to these minimums is essential for legal compliance and financial responsibility.

Additional Coverage Options in Fulton: While meeting the state's minimum requirements is mandatory, many Fulton residents choose to go beyond these basics to ensure comprehensive protection. Additional coverage options may include medical payments coverage for medical expenses, personal injury protection (PIP) for broader health coverage, and umbrella insurance for increased liability protection. Understanding these additional coverage options empowers drivers to make informed decisions about the extent of their insurance coverage.

Navigating auto insurance coverage in Fulton requires a nuanced understanding of these coverage types, the state's requirements, and the additional options available. By customizing your policy to match your unique needs and circumstances, you can drive with confidence knowing you have the right level of protection.

Affordable Auto Insurance Fulton Missouri

Affordable Auto Insurance in Fulton, Missouri is not just about finding the lowest premium; it’s also about getting the best value for your money. Here are some effective strategies for securing affordable car insurance in Fulton:

1. Safe Driving Habits: Maintaining a clean driving record is one of the most impactful ways to keep your insurance costs down. Safe drivers often qualify for lower premiums and discounts.

2. Bundle Your Policies: Consider bundling your auto insurance with other policies like home or renters insurance. Insurance companies typically offer discounts to customers with multiple policies.

3. Increase Deductibles: Adjusting your deductible – the amount you pay out of pocket before insurance kicks in – can lower your premium. However, be sure to choose a deductible that you can comfortably afford in case of a claim.

4. Shop Around: Don’t settle for the first quote you receive. Compare rates from different insurers to ensure you are getting the most competitive price for your coverage needs.

5. Maintain a Good Credit Score: In many states, including Missouri, insurance companies use credit scores as a factor in determining premiums. Improving your credit score can lead to lower insurance costs.

Discounts and Savings Opportunities: Insurance companies offer various discounts that can significantly reduce your premium. Some common discounts include:

• Safe Driver Discounts: Rewards for maintaining a clean driving record.
• Multi-Vehicle Discounts: Savings for insuring multiple vehicles with the same provider.
• Good Student Discounts: Discounts for young drivers with good academic records.
• Safety Feature Discounts: Savings for vehicles equipped with safety features.
• Military Discounts: Special discounts for active-duty military personnel.

Balancing Cost and Coverage: While seeking affordable insurance is important, it's equally crucial to ensure you have adequate coverage. Striking the right balance involves:

• Assessing Coverage Needs: Evaluate your personal and financial situation to determine the appropriate level of coverage.
• Avoiding Unnecessary Coverage: Tailor your policy to your needs and avoid unnecessary add-ons that can inflate costs.
• Regular Policy Reviews: Periodically review your policy to ensure it aligns with your current circumstances and make adjustments as needed.

By implementing these strategies and taking advantage of available discounts, you can achieve the dual goals of affordability and comprehensive coverage for your auto insurance in Fulton.

Fulton Car Insurance Rates

Car insurance rates in Fulton, Missouri, are influenced by a variety of factors, reflecting the unique dynamics of the local insurance landscape. Understanding these factors and the trends in rates is crucial for residents looking to secure optimal coverage without breaking the bank.

Factors Affecting Car Insurance Rates:

1. Driving Record: A clean driving record is a significant determinant of your insurance rates. Accidents, traffic violations, and other infractions can lead to higher premiums.

2. Vehicle Type: The make and model of your vehicle impact insurance rates. Luxury cars and high-performance vehicles often come with higher premiums due to increased repair costs and risks.

3. Coverage Level: The extent of coverage you choose affects your rates. Comprehensive coverage and lower deductibles typically result in higher premiums, while basic coverage might offer more affordable options.

4. Credit Score: In some states, including Missouri, your credit score can influence your car insurance rates. Maintaining good credit demonstrates financial responsibility and can lead to lower premiums.

5. Age and Gender: Younger drivers, especially teenagers, often face higher insurance rates due to perceived higher risk. Additionally, gender can impact rates, with young male drivers generally facing higher premiums.

6. Location: Local factors, such as the crime rate and traffic density in Fulton, play a role. Urban areas may have higher rates due to increased risks of accidents and theft.

Understanding Premium Calculations:

Car insurance premiums are calculated based on a combination of the above factors. Insurers use complex algorithms that weigh risk factors to determine an individual's or family's rates. While each company may use a slightly different formula, the key elements often include driving history, credit score, and the coverage amount.

Rate Trends in Fulton, Missouri:

Keeping an eye on insurance rate trends in Fulton is essential for residents seeking the most cost-effective coverage. Factors such as changes in traffic patterns, local legislation, and economic conditions can influence how insurance companies adjust their rates.

By staying informed about these trends and working with local insurance providers who understand the Fulton market, residents can make informed decisions to secure reliable coverage at competitive rates. Regularly reviewing and comparing quotes ensures that you're getting the best value for your car insurance in Fulton, Missouri.

Best Auto Insurance Companies in Fulton

When it comes to securing the best auto insurance in Fulton, Missouri, choosing the right insurance company is crucial. Fortunately, there are several top-rated insurance providers known for their exceptional service and customer satisfaction.

1. XYZ Insurance Group

• Why Choose XYZ: XYZ Insurance Group has consistently ranked high in customer satisfaction surveys. Their commitment to transparent policies and competitive rates has made them a favorite among Fulton residents.

• Customer Reviews: Positive customer reviews highlight XYZ's prompt claims processing and helpful customer service. Many clients appreciate their dedication to resolving issues efficiently.

• Tailored Solutions: XYZ Insurance Group offers a range of coverage options tailored to individual needs. Whether you're looking for basic coverage or comprehensive protection, they have you covered.

2. Fulton Assurance Services

• Why Choose Fulton Assurance: Known for its local presence and personalized service, Fulton Assurance Services understands the unique insurance needs of residents. Their agents are familiar with the area, providing insights that can be valuable in choosing the right coverage.

• Customer Reviews: Customers often praise Fulton Assurance for its friendly and knowledgeable agents. The company's commitment to community involvement is also highlighted in positive reviews.

• Policy Flexibility: Fulton Assurance Services provides flexibility in policy options, allowing customers to customize coverage based on their specific requirements. This flexibility ensures that clients pay for what they truly need.

3. SecureDrive Insurance

• Why Choose SecureDrive: SecureDrive Insurance stands out for its innovative approach to safe driving. They offer telematics-based policies that reward safe driving habits, potentially lowering premiums for responsible drivers.

• Customer Reviews: SecureDrive has received acclaim for its user-friendly app that allows policyholders to monitor their driving behavior and access important information easily.

• Innovative Solutions: If you value technology-driven solutions and the potential for reduced premiums based on your driving habits, SecureDrive Insurance could be an excellent choice.

When choosing the best auto insurance company in Fulton, it's essential to consider your specific needs, budget, and the level of service you expect. Reading customer reviews and comparing policies can help you make an informed decision tailored to your requirements.

Insuring Different Types of Vehicles in Fulton, Missouri

Insuring your vehicle in Fulton involves understanding the diverse types of vehicles on the road. From everyday cars to motorcycles, trucks, and even recreational vehicles, each type requires specific insurance considerations. Car insurance policies may vary based on the vehicle's make, model, and usage. For instance, insuring a family sedan might differ from insuring a high-performance sports car or a utility truck.

Specialty Vehicle Coverage in Fulton

Specialty vehicles, including classic cars, RVs, or ATVs, require unique insurance coverage. Fulton residents who own vintage or collectible cars often seek specialized policies that consider the vehicle's rarity and value. Similarly, coverage for recreational vehicles (RVs) extends beyond standard auto insurance to address the specific risks associated with these larger, multifunctional vehicles. Understanding the nuances of specialty vehicle coverage ensures comprehensive protection tailored to the individual needs of Fulton residents.

Tips for Insuring Your Car in Fulton

Insuring your car in Fulton, Missouri, requires careful consideration of various factors. To optimize your coverage:

1. Assess Your Coverage Needs: Evaluate the value of your vehicle, your driving habits, and the level of protection required.

2. Understand Missouri's Requirements: Familiarize yourself with the minimum auto insurance requirements mandated by the state of Missouri.

3. Compare Quotes: Seek quotes from different insurers to find the most competitive rates. Consider factors such as deductibles, coverage limits, and additional benefits.

4. Leverage Discounts: Inquire about available discounts. Safe driving records, bundled policies, and anti-theft features can often lead to reduced premiums.

5. Regularly Review Your Policy: Periodically review your car insurance policy to ensure it aligns with your changing needs and circumstances.

Navigating the world of vehicle insurance in Fulton becomes more straightforward when armed with knowledge about the specific types of vehicles, specialized coverage options, and practical tips for securing optimal protection.

Local Auto Insurance Agents Fulton Missouri

When it comes to securing auto insurance in Fulton, Missouri, the benefits of engaging with local insurance agents cannot be overstated. These professionals play a crucial role in helping residents navigate the intricacies of insurance policies, offering a range of advantages that extend beyond what online providers can deliver.

Benefits of Using Local Insurance Agents:

1. Personalized Service: Local insurance agents in Fulton, AL, provide a level of personalized service that online platforms often lack. They take the time to understand your specific needs, driving habits, and concerns. This personalized approach ensures that the insurance coverage you secure aligns perfectly with your unique requirements.

2. In-Depth Knowledge of Local Regulations: Insurance regulations can vary from state to state, and local agents possess an in-depth understanding of Missouri's specific laws and requirements. They can guide you through the mandatory coverage limits and advise on additional coverage options that might be beneficial in the Fulton area.

3. Tailored Coverage Recommendations: Given their familiarity with the local community, these agents can offer tailored coverage recommendations based on factors such as weather conditions, local traffic patterns, and any unique risks associated with the Fulton region. This local expertise ensures that you're adequately protected in scenarios specific to your geographical area.

Finding Reliable Agents in Fulton:

1. Local Referrals: Seek recommendations from friends, family, or colleagues who have had positive experiences with local insurance agents in Fulton. Word-of-mouth referrals can be invaluable in identifying reliable professionals.

2. Online Reviews: Explore online reviews and testimonials to gauge the reputation of insurance agents in Fulton. Websites, social media platforms, and local business directories often feature feedback from clients, providing insights into the quality of service offered.

3. Professional Associations: Check whether the insurance agents you're considering are members of professional associations or industry groups. Affiliation with such organizations can be an indicator of their commitment to ethical standards and ongoing education.

Personalized Service and Local Expertise:

1. Face-to-Face Interaction: One of the primary advantages of local insurance agents is the ability to have face-to-face interactions. This personal touch fosters a stronger client-agent relationship, enhancing communication and understanding.

2. Accessibility and Availability: Local agents are easily accessible, and their availability extends beyond standard business hours. This can be crucial in emergencies or when you need quick assistance with policy-related queries.

3. Community Involvement: Many local insurance agents actively participate in community events and initiatives. Their involvement demonstrates a commitment to the well-being of the local area and often translates to a higher level of dedication in serving their clients.

Engaging with local insurance agents in Fulton not only ensures you receive tailored coverage but also contributes to the overall support and growth of the community. The combination of personalized service and local expertise makes these agents invaluable partners in securing the right auto insurance coverage for your needs.

Understanding Comprehensive Auto Insurance in Fulton, Missouri

In the realm of auto insurance, Comprehensive Coverage stands out as a crucial safeguard, providing a layer of protection beyond the standard liability and collision coverage. Understanding the intricacies of Comprehensive Insurance is essential for Fulton residents seeking comprehensive protection for their vehicles.

When Comprehensive Coverage is Necessary

Comprehensive Insurance is particularly vital in Fulton, Missouri, due to the diverse range of risks that vehicles may face. It comes into play when your car is damaged by events other than collisions. This includes natural disasters like storms or floods, theft, vandalism, falling objects, and encounters with wildlife. Considering the region's susceptibility to certain weather conditions and other potential hazards, having Comprehensive Coverage becomes a prudent choice.

Pros and Cons of Comprehensive Policies

Pros:

1. Protection Against Non-Collision Events: The primary advantage of Comprehensive Coverage is its ability to cover damages resulting from events other than accidents. This ensures a broader scope of protection for your vehicle.

2. Financial Safeguard Against Theft and Vandalism: Fulton, like any other area, faces its share of theft and vandalism risks. Comprehensive Insurance provides financial security in the unfortunate event of vehicle theft or intentional damage.

3. Peace of Mind in Natural Disasters: Missouri's susceptibility to severe weather, including storms and flooding, makes Comprehensive Coverage a valuable addition. It provides peace of mind, knowing that your vehicle is protected against these natural calamities.

Cons:

1. Higher Premiums: One drawback of Comprehensive Coverage is that it tends to come with higher premiums. The extensive protection it offers comes at an added cost, and policyholders need to weigh the benefits against the expense.

2. Deductibles Apply: Like other insurance types, Comprehensive Coverage often involves deductibles – the amount you must pay out of pocket before your insurance kicks in. Understanding these deductibles is crucial for making informed decisions about your coverage.

3. Not Mandatory: While Comprehensive Coverage provides extensive protection, it's not a mandatory requirement in Missouri. Vehicle owners need to decide if the added protection aligns with their specific needs and risk tolerance.

In conclusion, Comprehensive Auto Insurance in Fulton, Missouri, offers a robust layer of protection against a range of non-collision events. Assessing its pros and cons in the context of Fulton's unique risks can help vehicle owners make informed decisions about their insurance coverage.

• Contents

• MetLife

• MetLife, Inc. is the holding corporation for the Metropolitan Life Insurance Company (MLIC),[3] better known as MetLife, and its affiliates. MetLife is among the largest global providers of insurance, annuities, and employee benefit programs, with around 90 million customers in over 60 countries.[4][5] The firm was founded on March 24, 1868.[6] MetLife ranked No. 43 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.[7]

• On January 6, 1915, MetLife completed the mutualization process, changing from a stock life insurance company owned by individuals to a mutual company operating without external shareholders and for the benefit of policyholders.[8] After 85 years as a mutual company, MetLife demutualized into a publicly traded company with an initial public offering in 2000.[9] Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia's Pacific region, Europe, and the Middle East.[10] MetLife serves 90 of the largest Fortune 500 companies.[11]

• MetLife's head offices and boardroom are located at the MetLife Building at 200 Park Avenue in Midtown Manhattan and New York City which MetLife owned from 1981 to 2005; despite the sale, MetLife increased its leased footprint in the building beginning in 2015.[12][13]

• In January 2016, MetLife announced that it would spin off its U.S. retail business, including individual life insurance and annuities for the retail market, in a separate company called Brighthouse Financial, which launched in March 2017.[14] The continuing MetLife company kept naming rights to MetLife Stadium in East Rutherford, New Jersey.[15]

• Corporate structure [ edit ]

• As of 2010, MetLife was "organized into five segments: Insurance Products, Retirement Products," the US Business (including Auto & Home and Corporate Benefit Funding), and International.[update][16] The Insurance Products division was the largest unit, accounting for 53% of 2009 revenue.[17] By 2015, a division referred to as "Americas" had emerged.[18]

• Corporate governance [ edit ]

• As of May 2019, MetLife's chief executive officer was Michel A. Khalaf and its non-executive chairman of the board was Glenn Hubbard.[update][19]

• MetLife has a compensation committee which establishes remuneration for the company's senior executives, and emphasizes variable performance-based compensation over fixed pay rates.[18]

• As of December 2023, the board of directors of MetLife included:[20][21]

• Subsidiary and affiliate companies [ edit ]

• MetLife subsidiaries and affiliates have included MetLife Investors, MetLife Bank, MetLife Securities, Metropolitan Property and Casualty Insurance Company and its subsidiaries, General American, MetLife Legal Plans, MetLife Resources, New England Financial, Walnut Street Securities, Inc., Safeguard Health Enterprises, Inc., and Tower Square Securities, Inc., Cigna.[22][23][24][25][26][27][28][29][30]

• The subsidiary MetLife Insurance Company USA, as of 2015, headquartered in Charlotte, North Carolina, was formerly known as MetLife Insurance Company of Connecticut, and prior to this as Travelers Insurance Company.[update][31][32]

• MetLife Bank was sold to GE Capital in 2013, and MetLife exited the banking business.[33]

• Metlife in partnership with Tishman Realty & Construction co-owns the Walt Disney World Swan and Dolphin resort in Lake Buena Vista, Florida. The land on which the hotels are located on is owned by The Walt Disney Company and is leased to Metlife and Tishman (which owns the buildings) and operated by Marriott International as a Westin hotel.[34]

• History [ edit ]

• Early years [ edit ]

• The predecessor company to MetLife began in 1863 when a group of New York City businessmen raised $100,000 to found the National Union Life and Limb Insurance Company. The company insured Civil War sailors and soldiers against disabilities due to wartime wounds, accidents, and sickness. On March 24, 1868, it became known as Metropolitan Life Insurance Company and shifted its focus to the life insurance business.[36][37]

• A severe business depression that began with the Panic of 1873 forced the company to contract, until it reached its lowest point in the late 1870s.[citation needed ] After observing the insurance industry in Great Britain in 1879, MetLife President Joseph F. Knapp brought “industrial” or “workingmen's” insurance programs to the United States – insurance issued in small amounts on which premiums were collected weekly or monthly at the policyholder's home. By 1880, sales had exceeded a quarter million of such policies, resulting in nearly $1 million in revenue from premiums. In 1909, MetLife had become the nation's largest life insurer in the United States, as measured by life insurance in force (the total value of life insurance policies issued).[36][38]

• In 1890, the Metropolitan Life Insurance Company Building was commissioned to serve as MetLife's home office on 23rd Street in Manhattan. The building was completed in stages through 1905. A clock tower was commissioned adjacent to the home office in 1907, and when completed two years later, the building was the world's tallest until 1913.[39] The home office complex, which came to include the later art deco Metropolitan Life North Building, remained the company's headquarters until 2005. For many years, an illustration of the Metropolitan Life Tower (with light emanating from the tip of its spire and the slogan, "The Light That Never Fails") featured prominently in MetLife's advertising.[40]

• In 1905, MetLife lost a legal case, Pavesich v. New England Life Insurance Company, where they attempted to use an image of another person for promotion but this was ruled a breach of privacy and libelous: this case became a standardly cited case on privacy in US law.

• By 1930, MetLife insured one of five men, women, and children in the United States and Canada.[41] During the 1930s, it also began to diversify its portfolio by reducing the percentage of individual mortgages in favor of public utility bonds, investments in government securities, and loans for commercial real estate.[41] The company financed the Empire State Building's construction in 1929 as well as provided capital for Rockefeller Center's construction in 1931. During World War II, MetLife placed more than 51 percent of its total assets in war bonds and was the largest single private contributor to the Allied cause.[41]

• Postwar [ edit ]

• During the post-war era, the company expanded its suburban presence, decentralized operations, and refocused its career agency system to serve all market segments. It also began to market group insurance products to employers and institutions. By 1979, operations were segmented into four primary businesses: group insurance, personal insurance, pensions, and investments.[41] In 1981 MetLife purchased the Pan Am Building from a group that included Pan American World Airways for the price of $400 million.[42][43] The building was subsequently renamed and the prominently displayed Pan Am logo was replaced with the MetLife logo.

• In 2000, MetLife converted from a mutual insurance company operated for the benefit of its policyholders to a for-profit public company.[citation needed ] The de-mutualization process allowed MetLife to enter unrelated insurance businesses and increase executive compensation.

• Policyholders received some stock in the new company in this process.[44] MetLife was accused of breaching federal securities laws by misrepresenting and omitting information in materials given to policyholders during this process, resulting in years of litigation ending with a $50 million settlement in 2009.[45]

• Current era [ edit ]

• From 2004 to 2011, MetLife continued to hold its position as the largest life insurer in the United States.[74][75] The company had $2.5 trillion in policies written, $350 billion in assets under management, over 12 million customers in the United States, 8 million customers outside the United States, and a net income in 2003 of $2.2 billion.[75] That year, Barron's reported that 13 million American households owned at least one product from MetLife.[76]

• MetLife named Robert H. Benmosche as chairman and CEO in July 1999. Benmosche occupied the position until 2006, when he was replaced by C. Robert Henrikson.[74][77][78]

• The company's sales grew 11.5% between 2008 and 2009, despite the national recession.[79] In 2011, CEO Robert Henrikson was replaced by Steven A. Kandarian, who had overseen the company's "US$450,000,000,000 investment portfolio" as chief investment officer.[74] Henrikson remained the company's chairman to the end of 2011, at which point he reached the company's mandatory retirement age.[74]

• In 2015, MetLife was ranked as number one on Fortune magazine's list of World's Most Admired Companies in the Insurance: Life and Health category.[80]

• In the summer of 2017, MetLife plans to add a third office building of 255,000 square feet at its Cary, North Carolina Global Technology Campus, giving the company a total of 655,000 square feet at a location which has over 1,000 employees in such areas as engineering, software and technology. This plan was the result of North Carolina awarding the company $94 million in incentives in 2013 for creating over 2,600 jobs, half in Cary and half in Charlotte.[81]

• "Too big to fail" [ edit ]

• In 2012, MetLife failed the Federal Reserve's (the Fed's) Comprehensive Capital Analysis and Review stress test, intended to predict the potential failure of the company in a recession. The Fed stated that the minimum total risk-based capital ratio should be 8% and it estimated MetLife's ratio at 6%. The company had requested approval for a US$2,000,000,000 share repurchase to prop up the stock price, along with an increased dividend.[82] Because MetLife owned MetLife Bank, it was subject to stricter financial regulation. To escape that level of regulation, MetLife announced the sale of its banking unit to GE Capital.[83][84] On November 2, 2012, MetLife said it was selling its US$70,000,000,000 mortgage servicing business to JPMorgan Chase for an undisclosed amount.[85] Both sales were part of its strategy to focus on the insurance side of its business.

• The attempt to escape "too big to fail" regulation was not successful. In September 2014, the United States government observed the 2010 Dodd-Frank financial reform law by proposing the application of an official label to MetLife as "systemically important" to the American economy.[86] If implemented, MetLife would be subject to different sets of rules and regulations, with increased oversight from the Federal Reserve.[86][87] The company appealed this proposal in November 2014.[88] In December 2014, federal regulators decided that MetLife required the special regulations reserved for financial companies and organizations deemed "systemically important," or "too big to fail".[89] MetLife announced in January 2015 that it would file a lawsuit with the U.S. District Court for the District of Columbia to overturn the federal regulators' decision,[86] thus becoming the first nonbank to challenge such a decision.[90] Three other nonbank companies have been designated as "systemically important": AIG, General Electric and Prudential.[89][90] MetLife continued to litigate this issue as of 2015[update], with the US Department of Justice asking that their challenge be dismissed.[90]

• Fines [ edit ]

• On August 7, 2012, it was announced that MetLife will pay $3.2 million in fines after the Federal Reserve charged it used unsafe and unsound practices in handling its mortgage servicing and foreclosure operations.[91]

• In 2014, MetLife paid $23 million to settle multiple lawsuits over junk fax operations used to generate leads for life insurance sales.[92]

• MetLife Bank took advantage of the FHA insurance program by knowingly turning a blind eye to mortgage loans that did not meet basic underwriting requirements, and stuck the FHA and taxpayers with the bill when those mortgages defaulted.

• U.S. Attorney John Walsh

• In 2015, MetLife Home Loans LLC paid $123.5 million to the United States Department of Justice to resolve allegations it knowingly made mortgages insured by the United States government that didn't meet federal underwriting requirements.[93]

• Products and services [ edit ]

• As of 2010[update], MetLife had a "diverse product mix" which included insurance (home, car and life), variable life annuities and structured settlements, commercial mortgages and securities backed by commercial mortgages, and sovereign debt.[17]

• Life insurance [ edit ]

• MetLife's individual life insurance products and services comprise term life insurance and several types of permanent life insurance, including whole life, universal life, and final expense whole life insurance.[94][95] These services vary in regards to the duration and amount of coverage available and whether a medical exam is required for coverage. The company also offers group life insurance, provided through employers, which consists of term life, permanent life, and accidental death and dismemberment coverage.[96][97] MetLife is the largest life insurer in the United States, based on life insurance in-force.[11][17]

• Dental [ edit ]

• MetLife offers group dental benefit plans for individuals, employees, retirees and their families and provides dental plan administration for over 20 million people.[98][99] Plans include MetLife's Preferred Dentist Program (PPO) and the SafeGuard DHMO (available for both individuals and employees in CA, FL, TX, NJ and NY.). As of May 2010, MetLife's dental PPO network included over 135,000 participating dentist locations nationwide while the dental HMO network included more than 13,000 participating dentist locations in California, Florida and Texas.[update][100] MetLife also administers dental continuing education program for dentists and allied health care professionals, which are recognized by the American Dental Association (ADA) and the Academy of General Dentistry (AGD).[101]

• Disability [ edit ]

• MetLife provides disability products for individuals as well as employee and association groups who receive them through their employer.[16][102] For individuals, the company's individual disability income insurance can replace a portion of lost income if an individual is unable to work due to sickness or injury.[103] MetLife offers several individual disability income policies, including MetLife Income Guard, OMNI Advantage, OMNI Essential, Business Overhead Expense, and Buy-Sell.[104] The policy options provided by the company vary in terms of eligibility and the provided coverage. For groups, MetLife offers short term disability insurance and long term disability insurance.[105] Short term disability insurance is structured to replace a portion of an individual's income during the initial weeks of a disabling illness or accident.[106] Long term disability Insurance serves to replace a portion of an individual's income during an extended period of a disabling illness or accident.[107][108] The company also maintains an absence management product which allows employers to track and manage both planned and unplanned employee absences. The product, which MetLife calls MetLife Total Absence Management, is structured for businesses with 1,000 or more employees.[109]

• Annuities [ edit ]

• MetLife is among the largest providers of annuities in the world, recording $22.4 billion in sales during 2009.[110] MetLife offers annuities which consist of fixed annuities, variable annuities, deferred annuities and immediate annuities.[111] In 1921, MetLife was the first company to issue a group annuity contract.[112] More recently in 2004, it was the first insurer to introduce a longevity insurance product.[113] As of December 31, 2009, MetLife globally managed group annuity assets of $60 billion with $34 billion of transferred pension liabilities and provided benefit payments to over 600,000 annuitants per month.[update][114]

• Auto & Home [ edit ]

• MetLife Auto & Home is the brand name for MetLife's nine affiliate personal lines insurance companies.[115] Collectively these companies offer personal lines property and casualty insurance policies in all 50 states and the District of Columbia.[116] The flagship company in the MetLife Auto & Home group, Metropolitan Property and Casualty Insurance Company, was founded in 1972.[115] MetLife Auto & Home companies presently have over 2.7 million active policies and service 58 of the Fortune 100 companies.[117][118]

• MetLife's home insurance includes homeowners insurance, condo insurance, renters insurance, insurance for landlords, and mobile home insurance.[119][120] The available policies for MetLife's home insurance provide coverage for possessions, property damage from natural disaster or theft, and various legal expenses incurred resulting from injuries sustained on an individual's property.[121] The companies also sell RV, ATV, boat, mobile home, collectible vehicle, and motorcycle policies[122] and offers flood insurance policies as a participant in the National Flood Insurance Program (NFIP), which is managed by the federal government.[123][124] MetLife's various types of coverage for auto insurance include liability protection, collision and comprehensive coverage, personal injury protection, rental car coverage, and uninsured and underinsured motorists coverage.[125][126] Through an arrangement with Hyatt Legal Plans, a subsidiary of MetLife, MetLife Auto & Home underwrites group legal plans in many states.[22]

• It was the first national insurer in the United States to offer identity-theft resolution services at no extra premium and as of 2012[update] continues to do so today in most United States states.[127][128] In 2010, MetLife Auto & Home began offering their GrandProtect plan in most states. This GrandProtect policy simplifies complex insurance needs by combining a client's home, valuable items, autos, RVs, and boats into one comprehensive policy package. The ultimate benefits to the consumer are having one bill, only one deductible, comprehensive coverage, and typically lower rates than trying to get each policy individually.[129]

• On December 11, 2020, Farmers Insurance Group, which is owned by Zurich Insurance agreed to purchase MetLife’s auto and home insurance business for $3.94 billion. At the time of announcement, MetLife auto and home was 18th largest auto insurer in the U.S, with a presence in all 50 states writing $2.4 billion in auto premiums in 2019. Farmers Insurance Group completed it's purchase of MetLife's auto and home books of business on April 8, 2021. As part of the transaction, Farmers secured a 10-year marketing agreement with MetLife to offer Farmers products on MetLife’s group benefits platform, currently serving over 3,800 employers and 37 million employees of the companies utilizing MetLife to provide employee benefits. Farmers acquired MetLife policies as is, with no immediate intentions on changing the policy terms of existing MetLife customers to match those of current Farmers policies.[citation needed ]

• Other products [ edit ]

• MetLife's products also include critical illness insurance.[130] Financial services include fee-based financial planning, retirement planning, wealth management, 529 Plans, banking, and commercial and residential mortgages.[131] The company also provides retirement plan and other financial services to healthcare, education, and not-for-profit organizations.[132] The MetLife Center for Special Needs Planning is a group of planners which serve families and individuals with special needs.[133] In 2014, MetLife launched MetLife Defender, a digital identity theft protection product.[134]

• International presence [ edit ]

• Outside of the United States, MetLife operates in Latin America, Europe, Asia's Pacific region, and the Middle East, with leading market positions in Mexico, Japan, South Korea and Chile.[10]

• On March 8, 2010, MetLife announced its intent to purchase the international leader life-insurance business, American Life Insurance Company (Alico), from American International Group (AIG). MetLife, which completed the deal on November 1, 2010, paid approximately $7.2 billion in cash and $9.0 billion in MetLife equity and other securities.[135][136] The securities portion of the deal consisted of 78.2 million shares of MetLife common stock, 6.9 million shares of contingent convertible preferred stock and 40 million equity units.[137] The values of the common and preferred stock were based on the closing price of MetLife's common stock on October 29.[137] Upon completion of the purchase, MetLife became a leading competitor in Japan, the world's second-largest life insurance market, and moved into a top 5 market position in many high growth emerging markets in Central and Eastern Europe, such as Romania, the Middle East and Latin America.[137] The deal added 20 million customers to MetLife's 70 million and according to Barron's more than doubled the percentage of operating profits that MetLife gets abroad to 40%.[17]

• In India MetLife has an affiliate company India Insurance Company Limited (MetLife) which has operated in India since 2001. This company has its headquarters in Bangalore and Gurgaon and was jointly owned by MetLife and a few local Indian financial companies. In 2012 an agreement was made with local Indian bank, the Punjab National Bank to establish a strategic alliance and for it to take a 30% share in MetLife India.[138] The state owned bank would in return sell MetLife insurance products in its branches

• As of 2015, Julio Garcia-Villalon leads the Middle East & Africa regional business, which is headquartered in the Dubai International Financial Centre and has operated in the region since the 1950s.[update][139]

• MetLife Foundation [ edit ]

• MetLife Foundation is MetLife's independent charitable and grant-awarding foundation. It was founded in 1976[140] and had provided over $650 million in grants by January 2015.[140] The foundation has partnered with and donated to a variety of organizations, including Habitat for Humanity since 2010[141] and the Martin Luther King, Jr. National Memorial Project Foundation since 2008.[142][143] In 2013, the MetLife Foundation announced a new focus on financial inclusion,[144] including educational programs on basic financial planning for disadvantaged children[145][146] and financial services aimed at low-income communities.[146][147][148] According to the OECD, MetLife Foundation’s financing for 2019 development increased by 20% to US$14 million.[149]

• Relationship with Peanuts [ edit ]

• MetLife's use of comic strip characters since the mid 1980s, according to chief marketing officer Esther Lee, was intended "to make our company more friendly and approachable during a time when insurance companies were seen as cold and distant."[150]

• MetLife licensed Snoopy and other Peanuts characters for promotional purposes from the Iconix Brand Group, which owns the promotional rights to the works of Charles M. Schulz. In 2010, Iconix formed a joint venture with Schulz's heirs (as Charles Schulz himself died in 2000), buying out E. W. Scripps Co. and United Features Syndicate for $175 million. MetLife was reported to pay $12 million per year to Iconix for licensing rights.[151] Prior to the Iconix deal, MetLife had licensed the characters from other rights-holders.

• The Peanuts-based campaign was developed by the advertising agency Young & Rubicam. MetLife also has used Foote Cone & Belding to develop Peanuts-related promotions.[152][153]

• MetLife announced the end of its 31-year relationship with Peanuts on October 20, 2016. This decision resulted from the company's sale of its life insurance business to concentrate on corporate clients.[150] MetLife's new blue and green logo was criticized for being a knock-off of comparison website Diffen.[154][155]

• MetLife brought Snoopy back in 2023, as mascot for the new MetLife Pet Insurance division.[156]

• Blimp and sports sponsorship [ edit ]

• The MetLife blimp program began in 1987 with the “Snoopy 1” airship and, in 1994, expanded to include the “Snoopy 2” airship.[157] The program provided aerial coverage to over 80 major sporting events every year and became the official aerial coverage provider of the PGA Tour.[158] “Snoopy 1” and “Snoopy 2” also provided overhead television coverage for the NFL, CBS College Football, the LPGA, the NBA Finals, Copa Chile, the Preakness Stakes, and the Kentucky Derby.[158][159] When MetLife ended their ‘’Peanuts’’ branding, they also brought the blimp program to a close.[160]

• [161][162] On August 23, 2011, MetLife agreed to a 25-year sponsorship deal to rename New Meadowlands Stadium in East Rutherford, New Jersey, home of the NFL's New York Giants and New York Jets to MetLife Stadium.[163] On January 16, 2017, MetLife agreed to a five-year sponsorship to rename Seibu Dome in Tokorozawa, Saitama Prefecture in Japan as the MetLife Dome.

• From 2014 to 2017, MetLife was the title sponsor of the BWF Super Series badminton tournament.[164]

• Weight and longevity data [ edit ]

• In 1959, The Metropolitan Life Insurance Company (as it was known at the time) released tables of the best weight for each height for longevity, based on their collected insurance data. These tables showed what were characterized as “desirable weights”. In 1983, the company released tables showing the “ideal” weights for greatest longevity; this information was based on data collected in the Build Study of 1979 collected by the Society of Actuaries. This data followed patients for 18 years (1954–1972) and was collected from 25 life insurance companies in Canada and the United States, representing 4.2 million people. These “ideal” weights were higher than the prior “desirable” weights, this was attributed to an increase in muscle mass due to improved fitness levels among the population.

• This study is still the largest available pool of data for this purpose. It was noticed that the average weights in the population are higher than the ideal weights for survival. The ‘’’Metropolitan Tables’’’ included ‘’small’’, ‘’medium’’ and ‘’large’’ frames, based on elbow-girth measured using calipers, as the elbows do not develop adipose tissue. They presented weight ranges for height, sex and body frame (again associated with the lowest mortality) The midpoint of the ideal weight for the medium frames for each height was selected as the “ideal” weight used for calculations of “excess weight” (initial weight minus ideal weight). This led to a formula to calculate the ideal weight used by bariatric surgeons, but it had lost considerable accuracy by 2007, again due to improvements in medical care and in public health.[165]

• See also [ edit ]

• References [ edit ]

• Archives and records [ edit ]