MetLife Launches New Critical Illness Insurance Products; Innovative Solution Designed to Provide Financial Support During Treatment & Recovery

Business Wire, March 28, 2005

NEW YORK -- MetLife today announced the launch of its new Critical Illness Insurance products designed to meet the changing financial protection needs of consumers. Americans of all ages are surviving serious illnesses at increasing rates due to medical breakthroughs and earlier diagnoses. For example, according to the American Cancer Society, five-year cancer survival rates have risen to 64% from 50% in the 1970s. However, research has also shown that a majority of individuals are living paycheck-to-paycheck and the increase in expenses created by a serious illness can cause financial hardship.

MetLife's new Critical Illness Insurance products cover six prevalent critical illnesses including: cancer, heart attack, stroke, kidney failure, coronary artery bypass graft and major organ transplant. When an individual experiences one of these covered conditions, MetLife Critical Illness Insurance pays a lump sum benefit of up to $100,000, offering individuals and their families a way to help maintain and protect their financial quality of life while better enabling them to focus on their treatment and recovery. The amount of insurance purchased and the type of critical illness determine the amount of the benefit paid.

Complementing traditional health insurance and disability coverage, MetLife's Critical Illness Insurance can help consumers meet their regular expenses as well as help pay for the additional costs associated with their illness, such as: medical and prescription drug deductibles and co-payments, child care or domestic help, travel to treatment centers, or any other needs. The lump sum payout offers financial flexibility. For example, it can be used to help fund the cost of seeing specialists in other geographic locations, pursuing alternative therapies or allowing a relative to take time off from work to assist during treatment and recovery.

"Facing a critical illness is difficult enough without having to worry about the added financial stress," explains Randy Stram, vice president, MetLife Critical Illness Insurance. "MetLife Critical Illness Insurance is designed to help individuals bridge the financial gap between traditional insurance coverages and the added costs associated with a critical illness. The product helps put financial control back into the hands of the individual, allowing one to focus on recovery. It also helps reduce the fear of having to tap into the equity in one's home or into retirement, education or other savings accounts."

"MetLife conducted a pilot program in late 2004 and we are excited to be offering these valuable products to a broader marketplace," Stram added.

MetLife Critical Illness Insurance will be available on an individual and group basis. Features include:

--Coverage for six prevalent critical illnesses (cancer, heart attack, stroke, kidney failure, coronary artery bypass graft, and major organ transplant).

--Lump sum payment of up to $100,000 to be used at the individual's discretion - providing flexibility and choice while eliminating confusing and time-consuming paperwork by requiring only a single claim to be filed.

By offering the coverage through the workplace employers have the opportunity to provide an innovative, value-added benefit to employees with little or no additional cost to their organization. MetLife's individual and group Critical Illness Insurance programs help enable individuals who qualify for coverage to better manage what may be one of the most difficult times in their lives. MetLife's Critical Illness Insurance is not currently available in all states.

About MetLife:

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 9 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.

Critical Illness Fast Facts:

--One out of every three people will be diagnosed with cancer (approximately 1,250,000 Americans annually). The five-year survival rate for all cancers is 62%. (American Cancer Society, 2004 Facts and Figures)

--One out of every four people will suffer a heart attack (approximately 1,200,000 Americans annually). Survival rate of a heart attack is 67%. (Heart Disease and Stroke Statistics, 2005 Update, American Heart Association)

--750,000 Americans will suffer a stroke annually. Survival rate of stroke is 87%. (Heart Disease and Stroke Statistics, 2005 Update, American Heart Association)

--52% of employees surveyed reported living "paycheck to paycheck." (The MetLife Study of Employee Benefit Trends, 2003)

--About every 26 seconds, someone suffers a coronary event. (Heart Disease and Stroke Statistics - 2004 Update, American Heart Association, based on total year 2000 U.S. population of 281 million people)