If you are in the market for life or annuity insurance, consider Brighthouse Financial. As the 22nd largest insurer in the United States, Brighthouse offers various policies that include life and annuities. Brighthouse has some attractive features, including discounts for safe hobbies. However, Brighthouse’s customer service department is not the best. Read on to learn more about Brighthouse and whether it’s the right company.
Industry experts rank Brighthouse Financial as the 22nd-largest insurer in the country
Brighthouse Financial, Inc., headquartered in Charlotte, NC, operates through multiple insurance subsidiaries across various states. The company maintains a solid balance sheet, a strong business profile, and sound enterprise risk management practices. While it’s important to remember that Brighthouse insurance rating scores do not directly reflect the quality of its products or services, they offer insight into the company’s financial stability. Brighthouse has earned an A (Excellent) rating from AM Best, signaling strong confidence in its ability to meet policyholder obligations. Additionally, the company has received relatively few consumer complaints, further supporting its reputation in the industry.
Those looking to cash out their life insurance policies should contact their advisor and submit a written request. Once clients submit a written request for cash-out, they can cancel their policy and no longer be obligated to make premium payments. However, canceling a policy means the insurance company will take back all premium payments and leave the policyholder without coverage. To avoid cancellation penalties, working with your insurance provider and financial advisor to understand the economic implications of cashing out is essential. Specifically, check to see if there are surrender or early withdrawal fees. Many indexed universal life plans carry surrender fees.
The company provides life and annuities through dedicated financial advisors. Its products are available through a dedicated login. Brighthouse Financial is headquartered in Charlotte, North Carolina. Its history dates back to Metlife Insurance Company, which relocated its headquarters to Charlotte in 2013. The company is the 22nd largest insurer in the country. The text includes three consecutive sentences that begin with the same word. This kind of repetition can be monotonous. Consider rephrasing to add variety.
Brighthouse Financial Life Insurance offers a range of innovative products designed to support life insurance and retirement planning needs. One standout option is Brighthouse SmartCare, which combines long-term care funding and death benefits with a cash value component protected from market downturns, providing security and flexibility. This product also includes a terminal illness benefit rider, offering additional peace of mind during challenging times. While these products are not available for direct online purchase, they can be accessed through financial advisors and are listed on the FINRA BrokerCheck website.
It offers life insurance and annuities
Brighthouse Financial does not produce typical insurance company commercials as a company offering both annuities and life insurance. Instead, its ads focus on retirement services, wealth management, and long-term financial care. It also creates high-quality video content and publishes it on its YouTube channel. In addition, the company launched a charitable foundation called Brighthouse Foundation in August 2018. The foundation helps fund nonprofit organizations that promote financial wellness.
In addition to life and annuity products, Brighthouse also sells various annuity products through independent distribution channels. A third-party vendor, DXC Technology, services their products. Brighthouse Financial’s website has links to independent rating and review websites. Brighthouse Financial offers various insurance products, including indexed and fixed annuities. For example, it provides two types of universal life insurance.
Brighthouse offers a variety of annuities, but its selection of permanent life insurance policies is limited. One of the main drawbacks is the lack of price transparency—there are no easily accessible rate tables or online quote tools available. Instead, customers must work with financial advisors to receive a Brightway insurance quote, which can make the process less convenient. Additionally, many customers report slow response times from customer service, which may be frustrating for those seeking timely assistance. Despite these challenges, Brighthouse maintains a strong BBB rating and remains a trusted name in the industry. For those prioritizing financial strength and long-term reliability, Brighthouse remains one of the better options for life insurance.
The company was founded in 2016 and focuses on life insurance and annuities. It has over 2 million customers and between 1,250 and 1,330 employees. Brighthouse is ranked as the 22nd largest insurance company in the country. Its total assets are $224 billion, making it one of the top life insurance providers in the US. It also has financial strength ratings from A.M. Best. A Brighthouse insurance policy may not be the best option for everyone, but it might be the best option for you.
Brighthouse offers flexible term life insurance options tailored to your needs. You can choose between an annual or five-year term policy, making it an ideal solution to bridge temporary coverage gaps, such as between jobs, or to increase protection before Social Security benefits begin. One valuable feature is the optional conversion and renewal rider, which lets you extend coverage for up to five years, with premiums increasing yearly. Applying is simple: you can apply online or explore options directly on the company’s website. If you ever need to file a Brighthouse insurance claim, you can easily download their Individual Life Death Claim form and submit it with the necessary documents. Brighthouse provides a streamlined process to help protect your loved ones financially.
It offers discounts for safe hobbies
Many life insurance companies award discounts for certain safe hobbies and low annual premiums. Discounts are often given to applicants with good genetics and family health history. Additionally, many companies reward young applicants with discounts for safe hobbies. If you’re looking for life insurance discounts, consult a licensed independent insurance agent. Some companies offer discounts for certain safe hobbies and habits, while others don’t. Sometimes, you may qualify for a combination of both types of discounts.
It has poor customer service
If you’re wondering whether Brighthouse Insurance has lousy customer service, it’s time to read these consumer complaints and find out. The National Association of Insurance Commissioners (NAIC) tracks the number of customer complaints filed against insurance companies. The higher the number, the better. The nitpicky customer service at Brighthouse is reflected in the complaint index. Brighthouse has a score of 0.89. However, this doesn’t mean that the insurance company is untrustworthy. Customers can also read reviews of Brighthouse insurance by consumers on sites like Consumer Affairs.
If you’re looking for a term life insurance policy, Brighthouse’s SimplySelect policy is affordable and uses accelerated underwriting. The age range for the issue is twenty-five to forty-nine and a half. The policy doesn’t require a medical exam for applicants between twenty-five and fifty-five. You must answer medical questions and provide credit and motor vehicle records, but Brighthouse does offer a no-medical-exam policy.
Brighthouse Life Insurance Company may offer solid financial products, but its customer service experience leaves much to be desired. Although the contact page provides phone numbers for various departments and products, no live chat or email options are available, which can be frustrating for tech-savvy consumers looking for quick answers. Additionally, Brighthouse requires customers to purchase policies through a financial professional, making it challenging to speak directly with an insurance representative without involving an advisor. If you’re considering canceling a policy or cashing out, contact your financial advisor and coordinate with the company’s economic department. It’s also essential to understand any surrender or early withdrawal fees that may apply, particularly with indexed universal life policies. These limitations highlight why researching your options thoroughly, especially with Brighthouse Life Insurance Company, is crucial before making a long-term commitment.
Despite receiving a strong rating from A.M. Best and recognition from several industry watchdogs, Brighthouse Insurance has room for improvement in customer service. While the company remains a solid financial investment, some customers have reported less-than-satisfactory service experiences. However, this shouldn’t necessarily be a dealbreaker. Before making a final decision, it’s wise for potential policyholders to explore multiple providers and compare their offerings. The right choice often depends on the specific type of coverage needed. Reading a Brighthouse insurance review can provide valuable insights into real customer experiences and help determine whether the company aligns with your insurance needs and expectations.
