The External Term Conversion Program allowed a conversion from an eligible unaffiliated company’s term policy to currently available MetLife individual permanent products, subject to program and suitability guidelines. This conversion, if qualifications were met, did not require review of medical supplement or underwriting.
As a result of low program utilization and increasing challenge with vetting eligible carriers, MetLife will discontinue the External Term Conversion program effective July 1, 2016. Please see the transition guidelines below.
While the External Term Conversion program is ending, MetLife offers a program that may be able to provide the coverage clients need. The MetLife Enhanced Rate Plus (ERP) program provides the opportunity for qualified clients to possibly obtain coverage with shorter service time and fewer underwriting requirements. ERP is available no on MetLife Premier Accumulator Universal Life and MetLife Whole Life Select 10.
All applications for the External Term Conversion Program must be signed no later than July 1, 2016. All applications must be processed and placed no later than August 1, 2016.
Please remember that the original term policy must be included with all applications. Please refer to the program guide for program and submission guidelines.