Are Brighthouse Financial and MetLife the Same Thing ?

Brighthouse Financial was founded in 2017 by MetLife, one of the largest American life insurance companies. MetLife created Brighthouse Financial with the intention of allowing the insurance company to concentrate only on selling life insurance and annuities to consumers. MetLife is still around, but they mainly work to sell businesses things that may be utilised as employee perks. On the other hand, Brighthouse Financial solely uses financial professionals to sell the insurance plans.

To put it another way, Brighthouse Financial is a MetLife spinoff.

Are Brighthouse Financial and MetLife the Same Company?

MetLife has launched a new business called Brighthouse Financial. With an estimated $223 billion in assets and an estimated 2.7 million active life insurance policies and annuity contracts, it is a significant supplier of life insurance and annuity products.

Despite being a MetLife subsidiary, Brighthouse Financial is not the same as MetLife. Since Brighthouse Financial is an independent business, it runs entirely independently of MetLife. However, because Brighthouse Financial and MetLife are entirely independent legal entities, Brighthouse Financial is not directly under the jurisdiction of MetLife. However, given they own roughly 20% of the common shares, MetLife is the largest stakeholder of Brighthouse Financial.

What Does This Mean?

The separation agreement between MetLife and Brighthouse Financial allowed common stockholders to receive one share of Brighthouse Financial for every eleven shares of MetLife they owned. On July 19, 2017, this was only valid until 5:00 p.m. Eastern Standard Time. The ability to any Brighthouse Financial common stock was also sold by any common shareholders who sold their MET shares after this date but before the end of August 4, 2017. Shareholders of MetLife who possessed less than 11 shares of common stock or who would have been entitled to fractions of the shares received cash instead.

How Does This Affect Policyholders?

There is nothing you need to do if the insurance business that supplied your insurance policy split from MetLife and merged with Brighthouse Financial. No costs will be assessed to you, and you won't need to do anything. You will be informed of the change and told how to get in touch with Brighthouse Financial and sign up for alerts. You would have been informed if you did need to take some kind of action.

If you already had a financial services representative, they will continue to be the same. As a result, you will be able to talk to him or her about any issues relating to your life insurance policy going forward.

If you choose Brighthouse as your provider of life insurance, you can choose between term and whole life insurance, as well as variable and universal plans.

The Verdict on Brighthouse Financial and MetLife

There is nothing you need to do if you had a life insurance policy issued by a firm under MetLife that later changed its name to Brighthouse Financial after the two companies were split up. Your life insurance policy won't be impacted at all despite the fact that the two businesses are totally independent of one another. The terms of your insurance will remain the same, and you will continue to get the same coverage.

If you have any inquiries, worries, or criticisms, you may get in touch with Brighthouse Life Insurance Company. As an alternative, you can get in touch with the same financial services professional you dealt with while working for MetLife.

Brighthouse Life Insurance Company's spinoff by MetLife has been a huge success. The new insurance company is expanding; they continue to hold a sizable number of life insurance policies, and their value is rising. Remember that Life Ant allows you to compare life insurance quotes if you are a Metlife customer wanting to compare prices.

Are Brighthouse Financial and MetLife the Same Thing ?