MetLife Introduces New Inflation Protection Rider for Individual Disability Income; Automatically Increases the Monthly Benefits Amount

Business Wire, August 31, 2004

NEW YORK -- MetLife today announced the introduction of the new Automatic Increase Benefit (AIB) rider designed to allow policyholders to keep pace with inflation without having to provide evidence of continued insurability. The rider, available on certain MetLife disability income policies, automatically increases the base monthly benefit by 5% each year for the first five years of the policy. After five years the rider is renewable with financial and medical underwriting approval.

"Inflation can pose a great financial concern for people whose disability benefit is fixed. The Automatic Increase Benefit adds value to an individual disability income insurance policy by automatically increasing the benefit each year to help the benefit keep up with inflation," said Maria Morris, senior vice president Individual Disability. "The AIB rider makes it simpler for clients to manage their personal finances and for agents and brokers to offer protection portfolios that meet their clients' needs."

Because the benefit amount increases automatically each year there is no action individuals need to take. There is no cost to include the AIB rider on a disability income policy. The policyholder only pays for the cost of the additional benefit amount at the time of the increase.

Before each policy anniversary date, the insured will receive a letter informing them that their original base monthly benefit is scheduled for a 5% increase. The insured has the option to decline the additional coverage provided by this rider. The rider will automatically be removed from the policy if the insured declines the automatic increase for two consecutive years.

If the insured is disabled before a scheduled increase, the next increase will take effect 30 days after his or her disability ends.

Agents and brokers can call 1-800-929-1492 for more information about the AIB rider.

MetLife, a subsidiary of MetLife, Inc. (NYSE: MET), is a leading provider of insurance and other financial services to individual and institutional customers. The MetLife companies serve individuals in approximately 13 million households in the U.S. and provide benefits to 37 million employees and family members through their plan sponsors. Outside the U.S., the MetLife companies serve approximately 8 million customers through direct insurance operations in Argentina, Brazil, Chile, China, Hong Kong, India, Indonesia, Mexico, South Korea, Taiwan and Uruguay. For more information about MetLife, please visit the company's Web site at www.metlife.com.