Brighthouse Financial Life Insurance Review

Simple term coverage and dependable long-term care insurance

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overall rating

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Our Take

Brighthouse Financial offers term coverage and long-term care insurance for those who want renewable insurance and benefits that they can access while they’re still alive. The company’s term coverage can be renewed for up to five years. Brighthouse is a good option for those who want to purchase simple core coverage to meet their end-of-life needs.


Based on our review of more than two dozen life insurance companies, Brighthouse Financial Life Insurance was not one of the best companies we found. To see other options that may be better, visit our list of the best life insurance companies.

  • Pros and Cons
  • Key Takeaways
  • Specifications
Pros and Cons
  • Born from Travelers and MetLife

  • Published rate tables

  • Standard and Poor's A+ rating

  • Strong BBB rating and few complaints

  • Term coverage is only renewable up to five years

  • No conventional permanent coverage

  • Few payment options

  • Not many riders available

Key Takeaways
  • Having published rate tables gives a level of transparency many consumers appreciate.  
  • A long-term care policy that is also a universal life policy gives people two important coverages with one simple premium payment.  
  • One-year term policies are designed to cover gaps in insurance for circumstances such as changing jobs.  
  • The company still relies on its old parent company, MetLife, for customer service. 
  • Brighthouse has strong financial ratings from multiple agencies that look at the financial solvency of insurance carriers.
  • Year Founded 1863
  • Average Cost per Month $72.00 per year for $150,000 in term life coverage for customers age 25-35
  • Kinds of Plans (Whole, Term, Etc.) Term, long-term care
  • Number of Plans Two
  • Payment Plan Options Annual
  • Phone (800) 638-5000
  • Official Website

Brighthouse Financial Life Insurance is a company that traces its roots back to 1863 and offers straightforward term and long-term care insurance. Term coverage from Brighthouse is priced transparently, with rate sheets published directly on the company websites. The company is also unique in that it offers long-term care structured as a hybrid life insurance policy rather than a living-benefits-only policy, which is how most long-term care is written.

In this review, we’ll consider the company’s offerings along with pricing, riders, customer reviews, and financial ratings. Read on to see how they fared.

Company Overview: A Spin-Off

Brighthouse Financial is a life insurance company that traces its roots back to Travelers, which was founded in 1863. It has over 2.5 million policies in force and was most recently owned by MetLife but is now a standalone Fortune 500 company. The firm has been operating as Brighthouse since 2017 and is headquartered in Charlotte, North Carolina.

Available Plans: Just Term and Long-Term Care

Brighthouse Financial provides two different types of insurance: term life and long-term care. Term life policies last one year and offer optional riders that allow policyholders to renew their policy for up to five years. The company’s long-term care product is a hybrid policy structured as a universal life policy with several additional benefits attached.

Don’t expect a lot of options with Brighthouse. They only offer a renewable one year term and the universal life/long-term care hybrid.

The types of life insurance offered by Brighthouse Financial include:

Brighthouse One Year Term

Term life coverage from Brighthouse Financial comes as a one-year policy. These policies can be renewed for up to five years if customers purchase an optional rider when they buy their policy (this rider is only available at the time of purchase). Otherwise, customers can just purchase insurance when they want coverage. Term life policies have a $100,000 minimum and can be issued to customers from 18 to 85. 

Brighthouse SmartCare®

Brighthouse Financial also provides long-term care insurance with coverage up to $1 million, structured as a hybrid indexed universal life policy. It includes several riders to provide policyholders with benefits to cover expenses later in life. This is unique among long-term care insurance that is normally sold as a living-benefits-only policy. With Smartcare®, policyholders’ long-term care benefits, death benefits, and cash value all grow over time. Policies have a capped growth rate but also protect policyholders against stock market losses. These policies are available from ages 40 to 75 with no medical exams, although a medical exam might be required if there's no evidence of medical care.

Brighthouse long-term care insurance (LTC) offers three different types of benefit options for cash values that grow over time and that you can borrow against:

  • Indexed LTC: Policyholders’ benefits increase with market gains up to a maximum annual growth rate but can’t fall below the original amounts. 
  • Fixed Growth LTC: The policy’s benefit amount grows by a set 5% interest rate, compounded annually.
  • Level LTC: The policy’s benefits remain the same over time.

Available Riders: Just a Couple Options

Riders are extra features that can be added to some life insurance policies for extra benefits. Brighthouse Financial only offers a few add-ons for policyholders who want to get extra benefits from their policies. These riders often include extra fees, but many are critical for unlocking important features of their coverage. Note that not all riders are available with all policies.

The riders that Brighthouse Financial offers include:

Convertible and Renewable Options Rider

Convertible and renewable options riders are only available with term policies and only at the time of purchase. This rider allows policyholders to extend their coverage to five years at the end of their term, eliminating the need for a new medical questionnaire.

Long-Term Care Acceleration of Death Benefit Rider

Acceleration of death benefit rider is only available with Brighthouse long-term care policies. This rider allows policyholders to access their death benefits before they die in order to pay expenses late in life. Access to these living benefits is for terminal illnesses and long-term care costs.

Extension of Benefits Rider

An extension of benefits rider is only available with long-term care policies. The rider allows policyholders to extend the amount of time they receive death benefit payments after their entire death benefit has been paid out. This provides additional funds in the event of unexpected costs due to serious illnesses needing medical care.

Customer Service: Handled by MetLife

Customers who need assistance can call (800) 638-5000. The customer service number listed directs customers to a MetLife call center. There is no live chat through Brighthouse’s website, nor is there an email option available. Brighthouse life insurance is available through independent advisors around the country, who may assist with some customer service issues.

Customer Satisfaction: They Follow Up

Brighthouse Financial has an A rating from the BBB. While there are 124 registered customer complaints, the company makes an effort to address all customer complaints.

Most customer complaints are related to account administration issues not being handled or benefits being delayed, both reportedly due to incomplete paperwork. Brighthouse has responded to all of these complaints and attempted to resolve them.

Financial Strength: Multiple Strong Ratings

Brighthouse Financial has an A+ rating from Standard & Poor's. The company is also rated A by A.M. Best, A3 by Moody’s, and A by Fitch. All of these represent very strong ratings, though they’re not the highest ratings available. Customers who decide to buy coverage from Brighthouse should rest easy knowing that their insurance is backed by a company with a strong balance sheet and solid risk management practices.

Cancellation Policy: Cancel Anytime But Fees May Apply

Term life coverage from Brighthouse can be canceled at any time—policyholders need to simply stop paying premiums. Long-term care coverage can also be canceled at any time but may include surrender charges (that decrease over time) and reduce the cash value. 

Price: Rates Tables Available Online

Life insurance from Brighthouse Financial is priced both competitively and transparently, especially for term life insurance. It makes rates tables available directly on its website that show annual premiums for one-year term policies. 

Shop premiums with other carriers to see if you can lock in lower rates rather than have your premium go up with each new term year.

Below are sample premiums for $150,000 in one-year term life coverage for men:

Age Premium
25 $72.00 per year
35 $72.00 per year
45 $81.00 per year
55 $150.00 per year
65 $331.50 per year

Competition: Brighthouse Financial vs. AIG

Brighthouse feels like a small insurance carrier compared to AIG. Unlike Brighthouse, AIG offers four different types of life insurance, including term, whole, universal, and variable universal life through its subsidiary, American General Life Insurance. AIG also has a higher A.M. Best rating of A+. Customers who want more types of life insurance—except for long-term care, which AIG doesn’t offer—should work with AIG instead of Brighthouse.

  Brighthouse AIG
AM Best rating A+ A
Types of coverage available Term, long term care Term, whole, universal, and variable universal life
Estimated monthly premiums for $500,000 of term life coverage for a 35-year-old policyholder $20 per month $27.33 per month
Final Verdict

Two Offerings to Meet Many Needs

Brighthouse Financial is a relatively young company that traces its history back to two different behemoths in the insurance industry. The company offers a very simple, cost-efficient one-year term life insurance policy that can be renewed for up to five years. 

It also offers long-term care insurance for customers who want to use their life insurance to help cover medical bills and other expenses later in life. Ultimately, this provider has limited options for consumers who need more from their life insurance policies. However, if you want life insurance accessible for long-term care needs before you die or short-term life insurance coverage, Brighthouse is affordable and does a good job.


Our reviews of life insurance companies are based on extensive research and analysis of each company based on offerings, customer service, financial stability, cost, and more. For each company, we compared the life insurance products offered, as well as available features and reported customer experiences. Visit our life insurance review methodology for the full breakdown on what we evaluated.

Article Sources

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  1. Better Business Bureau. "Brighthouse Financial." Accessed Jun. 17, 2021.

  2. Brighthouse Financial. "Financial Strength Ratings." Accessed Jun. 17 , 2021.

  3. AM Best. "AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries." Accessed Jun. 17, 2021.

  4. FitchRatings. "Brighthouse Life Insurance Company." Accessed Jun. 17, 2021.

  5. AM Best. "AM Best Comments on Credit Ratings of American International Group, Subs Following Announced Life & Retirement Separation Plan." Accessed Jun. 17, 2021.