New England Financial Whole Life Insurance
While New England Financial is well known for being an office of MetLife, it offers a variety of unique whole life insurance policies that suit the needs of many consumers.
Did you know that the company was established in 1908? How about the fact that it continues to serve tens of thousands of consumers in the New England region?
The mission of the company says it all:
“We are committed to providing a diverse array of quality products and services tailored to the client’s business and personal insurance and financial needs.”
By fulfilling this mission, the company is able to provide consumers with a variety of whole life insurance choices. Furthermore, policyholders receive the best possible customer service.
The Good
Part of MetLife
From the outside looking in, this may not sound like that big of a deal. However, being part of the MetLife team allows the company to offer the best whole life insurance products.
Additionally, it has access to many types of advanced technology, which helps the company better serve its clients.
Options to Choose from
Although New England Financial offers both whole and term life products, its whole life insurance policies are among the most popular.
The company plays up the following benefits on its website:
- Ability to build equity in the form of cash value.
- Protection for your entire life.
- More cost effective than term life insurance over the long run.
New England Financial encourages consumers to consider all coverage types but realizes that many people will eventually turn to a whole life policy.
Top Rated
Just the same as MetLife, New England Financial has received solid ratings from the biggest names in the industry. Consider the following:
- M. Best Rating: A+
- Standard & Poor’s Rating: AA-
- Moody’s Rating: Aa3
While New England Financial may not rate at the top end of each service’s scale, it is competitive with many life insurance companies.
The Not So Good
Limited Area
The primary disadvantage of New England Financial is its limited service area. As the name suggests, the company does business primarily in the northeast part of the United States.
It has many offices throughout Connecticut and Massachusetts, as well as one in Kentucky.
It may be best to purchase through MetLife for those who live in other parts of the country.
Dividend Rate
One of the top benefits of New England Financial is its dividend structure. Here is the history of the dividend since 2000:
| 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| 7.75 | 7.75 | 7.50 | 7.25 | 6.50 | 6.50 | 6.00 | 6.00 | 5.50 | 5.50 | 5.25 | 5.25 | 5.25 | 5.00 | 5.00 | 5.00 |
Although the New England Financial dividend rate has slowly declined since 2000, it is still considered stable ground.
Final Word
As part of MetLife, you can rest assured that New England Financial is in a good financial position. Along with this, its partnership with the company helps it provide high-level service and the best products on the market.
New England Financial may not be an upper-echelon whole life insurance company, but it’s an option worth considering, especially if you live in the northeast United States.
However, we would recommend going with MetLife’s Promise Whole Life instead.
