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MetLife Launches New Online Tool

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Helps calculate lump-sum needed to guarantee monthly income for beneficiaries

NEW YORK, February 14, 2006 – If you gave your family $1 million today would that be enough to cover their expenses for the rest of their lives? A new online calculator from MetLife, at, will help consumers answer that question.

The Guaranteed Survivor Income Benefit (GSIB) calculator pinpoints exactly how much life insurance an individual needs to guarantee their survivors an income they can’t outlive. The tool is simple. Individuals are asked three questions to enable the calculator to compute a lump sum value that can generate the desired guaranteed monthly income for their beneficiaries.

MetLife developed the GSIB calculator and, a life insurance rider with the same name, based on research showing that most people buy life insurance to replace their income. Many individuals, however, are presented with a lump-sum life insurance benefit which must be invested based on uncertainties, such as interest rates, to make the money last.

"Many of us are not accustomed to managing our income in an aggregate amount," said Robert E. Dehais, vice president, Individual Business, MetLife. "When people think about income replacement as a lump sum, they often do not buy enough life insurance. It is easier for many individuals to understand their income replacement in monthly terms, like a paycheck."

"Also, it may be difficult for a beneficiary to responsibly manage a large lump sum while they are grieving," added Dehais. "With GSIB they have a worry-free option to receive monthly income they can’t outlive."

Unlike other life insurance settlement options, MetLife’s Guaranteed Survivor Income Benefit (GSIB) can guarantee a beneficiary’s income, without assumptions about interest rates and other uncertainties. Beneficiaries with the GSIB rider are paid an enhanced income. The feature allows individuals to select a combination between a lump sum and guaranteed income. MetLife has applied for a patent on the GSIB rider. GSIB is available with any MetLife Universal Life insurance product.

MetLife, a subsidiary of MetLife, Inc. (NYSE: MET) is a leading provider of insurance and other financial services to millions of individual and institutional customers throughout the United States. Through its subsidiaries and affiliates, MetLife, Inc. offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals, as well as group insurance, reinsurance and retirement and savings products and services to corporations and other institutions. Outside the U.S., the MetLife companies have direct insurance operations in Asia Pacific, Latin America and Europe.

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