Brighthouse Financial Life Insurance Review 2024
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Brighthouse
on Nerdwallet
Financial strength rating
Online purchase
NAIC complaints
Policies offered
on Nerdwallet
Brighthouse
Financial strength rating
Online purchase
NAIC complaints
Policies offered
Established by MetLife in 2017, Brighthouse Financial sells life insurance and annuities to individuals. In contrast, MetLife focuses primarily on employee benefits.
You can only purchase a policy from Brighthouse Financial with the help of a financial professional, such as an advisor. The company does not sell its insurance online.
» MORE: Compare life insurance quotes
Brighthouse Financial life insurance rating
Brighthouse Financial earned 3 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account consumer experience, complaint data from the National Association of Insurance Commissioners and financial strength ratings.
» MORE: Best life insurance companies
Brighthouse Financial life insurance policies
Brighthouse Financial offers a range of term and permanent life insurance options, including a hybrid long-term care product.
Term life insurance. Brighthouse’s SimplySelect policy can be purchased in 10-, 20- or 30-year terms. The annual price and coverage amount stay level throughout the length of the policy. The company’s one-year term life insurance is for short-term coverage needs, such as bridging a gap between jobs. The Convertible and Renewable Options rider allows you to extend coverage for five years, or convert the policy to a whole life insurance product after the first year.
Life insurance and long-term care. Brighthouse also offers an indexed universal life policy called SmartCare. This product allows customers to use part of the policy’s death benefit to pay for long-term care.
Brighthouse Financial life insurance rates
Below are monthly rates for a 20-year, $500,000 term life insurance policy from Brighthouse Financial. These are sample rates for a nonsmoking man and woman in excellent health — the final quote you’re offered will depend on factors like your age, health, lifestyle, occupation and driving record.
Age | Monthly rate - man | Monthly rate - woman |
|---|---|---|
20 | $19.22 | $14.95 |
30 | $18.79 | $15.80 |
40 | $28.19 | $23.92 |
50 | $71.74 | $55.09 |
Source: Insurer's site. Rates reflect the super preferred class and were generated on 1/29/24. | ||
Brighthouse Financial customer complaints and satisfaction
Over three years, Brighthouse Financial has drawn fewer than the expected number of complaints to state regulators for a company of its size, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners.
Brighthouse Financial ranked No. 22 out of 22 companies in J.D. Power's 2023 U.S. Life Insurance Study for overall customer satisfaction.
What Reddit users say about Brighthouse Financial
Reddit is an online forum where users share their thoughts in “threads” on various topics. The popular site includes plenty of discussion on financial subjects like life insurance, so we sifted through Reddit forums to get a pulse check on how users feel about insurers. People post anonymously, so we cannot confirm their individual experiences or circumstances.
Comments on Reddit about Brighthouse Financial are mixed. While some say it’s a reputable company that shouldn’t have issues paying a life insurance death benefit in the future, several commenters complain about its poor customer service. That said, Brighthouse Financial’s rates for term life insurance are generally competitive, according to some Redditors.
Questions from Reddit: Our experts answer
Should you work with a broker to buy a Brighthouse Financial policy?
Brighthouse Financial policies are available only through financial professionals, so you’ll need to have someone help you buy one. There are advantages to working with insurance brokers, as they can shop around on your behalf and offer advice on which company’s offerings might be the best fit. Learn more about choosing a life insurance broker or agent.
How should I decide between a Brighthouse Financial policy and one from another company?
While price is an obvious factor to consider when comparing life insurance quotes, it shouldn’t be the only one. You may want to weigh each company’s financial strength ratings from agencies such as AM Best, which can tell you whether the insurer is stable enough to pay claims far into the future. You can also read NerdWallet’s life insurance reviews to see how each company measures up in terms of consumer complaints and policy offerings.
More about Brighthouse Financial life insurance
You can make one-time premium payments online without logging into an account. Automatic payments can be set up from your bank account.
In addition to life insurance, Brighthouse Financial offers index-linked, income, variable, fixed index and fixed-rate annuities.
» MORE: MetLife insurance review
Life insurance buying guide
Before you start comparing companies, choose the type of life insurance you want, such as term or whole life. Decide which life insurance riders, if any, you want the policy to include. Calculate how much life insurance you need and how long you want the coverage to last. Check that the insurers you’re considering offer the coverage you’re looking for.
When comparing rates, be sure the quotes are for the same amount of coverage over the same period of time. It’s also important to make sure the policy’s medical requirements match your needs. For example, if you want to skip the life insurance medical exam but don’t mind answering health questions, confirm that the application process for each policy you're comparing aligns with that.
Price may not be the biggest driver behind your decision to buy. Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.
For more guidance, see our life insurance buying guide.
Methodology
Life insurance ratings methodology
NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2020-2022. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.
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