MetLife Suspends IDI Sales

[Brian Anderson]

MetLife just announced it is suspending Individual Disability Insurance sales, effective Sept. 1, 2016. For more see the story in the link below, and please share your thoughts or concerns here.

Insurance Forums | MetLife suspends Individual Disability Insurance sales

 

[DHK]

Makes sense. Typically individual DI is sold by agents, and if their agents are now with MassMutual, they'll probably sell MassMutual DI, not Met Life.

Now that I think about it, I don't recall there ever being a thread on this forum discussing Met Life DI? We've talked about MassMutual, Guardian, Mutual of Omaha, Assurity, and I'm sure a few others, but I don't recall any discussion of Met Life.

I wonder how competitive they really were?

 

[Mattschmidt]

been rumored for several months. A metlife sales rep. told us about this ahead of time. No surprise

 

[Tahoe Ray]

Makes sense. Typically individual DI is sold by agents, and if their agents are now with MassMutual, they'll probably sell MassMutual DI, not Met Life.

Now that I think about it, I don't recall there ever being a thread on this forum discussing Met Life DI? We've talked about MassMutual, Guardian, Mutual of Omaha, Assurity, and I'm sure a few others, but I don't recall any discussion of Met Life.

I wonder how competitive they really were?

They were pretty competitive at the 5/6 occ classes. Of course, their CA product was weak so you didn't miss much.

 

[DHK]

California barely has any companies left in the DI marketplace:
- MassMutual
- Guardian
- Mutual of Omaha
- Assurity
- And I'm not sure about Principal...

But everyone else has essentially left the CA DI marketplace.

 

[Tahoe Ray]

California barely has any companies left in the DI marketplace:
- MassMutual
- Guardian
- Mutual of Omaha
- Assurity
- And I'm not sure about Principal...

But everyone else has essentially left the CA DI marketplace.

Principal has a solid plan in CA along with some great discount plans.

Also, the Standard that has some excellent products and is available in CA.

Frankly, there aren't a ton of DI carriers in any state.

 

[ARus]

Principal has a solid plan in CA along with some great discount plans.

Also, the Standard that has some excellent products and is available in CA.

Frankly, there aren't a ton of DI carriers in any state.

No wonder why?!

 

[dgoldenz]

They had great benefits and the best rates for a lot of physician occupations, sold a bunch of Income Guard since it was introduced....sucks, more business for Guardian now.

 

[David Block]

It is my understanding that they intent to reintroduce the product once they figure out a distribution model and close out some of their divisions to make them "too small to fail" !

 

[ChubbyChecker]

Why is DI in California, specifically, a weak product?