Ashlyn Brooks is a finance writer with more than half a decade of experience, known for her knowledge in areas such as taxes, insurance, investing, retirement, finance news, and banking products.
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At a glance
3.2
Rating: 3.2 stars out of 5
Bankrate Score
Score breakdown
Life
Rating: 3.2 stars out of 5
3.2
Cost & ratings
Rating: 3.3 stars out of 5
3.3
Coverage
Rating: 3 stars out of 5
3.0
Support
Rating: 3.5 stars out of 5
3.5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
About Bankrate Score
Bankrate's take
If you are looking for life insurance and long-term care, Brighthouse Financial’s SmartCare policy might be worth considering for your situation. The company offers limited policy options, though and was the lowest-rated option in J.D. Power's 2023 customer satisfaction ratings.
Ranked poorly in the 2023 J.D. Power Individual Life Insurance Study
Offers term life insurance coverage up to $3 million
Whole life insurance is only accessible through Brighthouse Financial if you convert a term life policy
Offers a hybrid policy that merges life insurance with long-term care insurance
New
What's new with Brighthouse Financial?
Brighthouse Financial announced that its Board of Directors appointed Michael J. Inserra and Lizabeth H. Zlatkus as independent board members. Both Inserra and Zlatkus have been designated as "audit committee financial experts" under U.S. Securities and Exchange Commission rules and will serve on the Audit Committee. Inserra will also join the Investment Committee, while Zlatkus will serve on the Finance and Risk Committee. Additionally, in partnership with BlackRock, the company announced that the LifePath Paycheck solution is now available in defined contribution plans, providing American workers with easier access to lifetime income during retirement.
Brighthouse Financial life insurance
Brighthouse Financial offers term life insurance and permanent life insurance. One of its unique policy offerings, called Brighthouse SmartCare, combines universal indexed life insurance with long-term care insurance. Some customers may have the option to get a policy with simplified underwriting, which, depending on their age, does not require a medical exam.
In addition to the carrier's hybrid SmartCare policy, here are the types of life insurance coverage you can purchase through Brighthouse Financial:
Term life insurance: There are two options available for term life insurance — Brighthouse SimplySelect and Brighthouse One Year Term. The SimplySelect term policy provides affordable coverage for 10, 20 or 30 years, with coverage ranging from $100,000 to $3 million. For this policy, a medical exam is not a requirement, plus you may have the option to add an acceleration of death benefit rider for added financial protection. The Brighthouse One Year Term policy provides the flexibility of short-term coverage for one year only, but you may use a convertible and renewable rider to extend your coverage to five years. One-year term policy availability and conditions vary by state.
Whole life insurance: If you have a term life insurance policy from Brighthouse Financial, you could opt to convert it to a whole life policy before the term ends if you have selected that option when initially purchasing your policy. Brighthouse Financial’s whole life policies have level premiums for your lifetime, guaranteed coverage as long as the premium is paid and guaranteed cash value growth. However, keep in mind that Brighthouse Financial only offers whole policies to those who already have term life insurance with it and want to convert, so you will first need to have a term policy in place that is nearing its end.
Indexed universal life insurance: Brighthouse Financial offers indexed universal life insurance with its SmartGuard Plus plan. If you’re willing to pay a little extra upfront, you can add a guaranteed distribution rider to ensure that future distribution payments stay above a certain threshold.
Pros and cons of Brighthouse Financial life insurance
Not sure if Brighthouse Financial has what you’re looking for? Our quick list of pros and cons can give you a quick snapshot of the company:
Pros
Offers a unique hybrid policy with life insurance and long-term care insurance
Excellent financial strength ratings
With the SimplySelect plan, approved applicants may receive coverage within 24 hours
Cons
Must purchase a policy through a Brighthouse financial professional; online quoting is not available
Limited selection of life insurance products offered
Below-average customer satisfaction score in J.D. Power's 2023 individual life insurance study.
Brighthouse Financial life insurance riders
Brighthouse Financial does not list all the life insurance endorsements available for different policy types on its websites. However, it does advertise the following:
Guaranteed distribution rider: This rider is available for universal life policies and guarantees that distribution payments remain above a certain minimum threshold.
Convertible and renewable rider: Available for term policies, this rider gives policyholders the option to convert their coverage to a permanent policy or renew their term policy once it expires.
Acceleration of death benefit rider: This term policy rider allows you to access your policy's death benefit early if you are diagnosed with a qualifying illness.
If you're interested in how you can personalize your policy, as well as how much life insurance might cost with Brighthouse Financial, contacting an agent or company representative may be helpful.
Brighthouse Financial customer satisfaction
To give you a more comprehensive Brighthouse life insurance review, Bankrate rounded up key third-party ratings. AM Best is a credit agency that specializes in the insurance industry. AM Best gives companies a letter grade that represents financial strength. A high AM Best rating signals that a company has historically made good on its financial claim obligations. This may be particularly important to life insurance shoppers, as life insurance claims can sometimes be in the millions. Brighthouse Financial currently holds an A (Excellent) rating from AM Best.
We also looked at J.D. Power’s latest life insurance studies to see how Brighthouse Financial stacks up against the competition — and the results were underwhelming. Brighthouse Financial scored well below the industry average of 790 with a score of 739, coming in last place for overall customer satisfaction in the 2023 Individual Life Insurance Study. This indicates that policyholders who value service may want to do some more research before purchasing a policy with Brighthouse.
Another important metric Bankrate uses to review life insurance companies is the National Association of Insurance Commissioners (NAIC) complaint index. The NAIC tracks the number of complaints policyholders file against insurance companies and awards each company multiple complaint index scores: an overall score and a score for each product line it offers.
The NAIC sets the average complaint index score at 1.0. If a company receives a score of 1.0, this means that it receives an average amount of complaints for a company its size. With NAIC Complaint Indexes, the lower the score, the better — it means that fewer customers are filing complaints about the company, and customers may be more satisfied.
Brighthouse Financial’s NAIC complaint index, coupled with its sub-par J.D. Power score, implies that the company has a ways to go in terms of customer service. Although its scores remained below 1.0 in 2021 and 2023, it tipped into above-average in 2022.
NAIC Complaint Index life insurance product
Line chart with 3 data points.
The chart has 1 X axis displaying Year. Data ranges from 2021-01-01 00:00:00 to 2023-01-01 00:00:00.
The chart has 1 Y axis displaying Score. Data ranges from 0.84 to 1.15.
End of interactive chart.
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Depending on your priorities, Brighthouse may or may not be able to meet your life insurance needs. You may want to explore some of the carriers below during your research process:
Brighthouse Financial vs. Pacific Life
Pacific Life offers a wide variety of insurance policies, including two types of universal life insurance. The company is rated above average for overall customer satisfaction by J.D. Power in the 2023 Life Insurance Study.
Along with life insurance, Mutual of Omaha offers robust long-term care insurance policies. Brighthouse offers a hybrid life and long-term care product but not a traditional long-term care insurance policy. Mutual of Omaha’s wide range of available riders also made it a standout on our list of best term life insurance companies.
Globe Life Insurance offers many types of life insurance, including term, whole and final expense coverage. Additionally, there are policies for accidental death insurance, mortgage protection insurance and children’s life insurance. While Brighthouse Financial focuses on comprehensive and customizable coverage, Global Life is typically straightforward and simple.
If you prefer to bundle your insurance policies, you may want to consider an insurer with multiple lines of coverage like State Farm. In addition to many life insurance options, State Farm also offers home insurance and auto coverage and boasts a few 2024 Bankrate Awards in the life insurance category. By contrast, Brighthouse Financial has fewer bundling choices.
The insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers the information they need to make educated decisions when shopping for a policy.
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120
carriers reviewed
Is Brighthouse Financial a good insurance company?
Brighthouse Financial is a solid life insurance provider overall, based on available metrics reviewed by our Bankrate insurance editorial team. With more than fifty carriers reviewed, our team can help you find the best life insurance company for your needs and give you an overview of how life insurance works.
Based on Bankrate’s Brighthouse Financial life insurance review and its offerings, it may be considered a decent life insurance option for many customers. The company offers a couple of standard policies to cover basic life insurance needs, including its signature SmartCare coverage, but it falls short in terms of accessibility and customer satisfaction ratings. It also does not offer an online life insurance quote option. However, if you are looking for long-term care and life insurance rolled into one, Brighthouse Financial’s SmartCare policy might be worth considering.
What are real-life customers saying about Brighthouse Financial?
We read discussions and reviews on Trustpilot and Reddit to gather firsthand accounts of customer experiences with Brighthouse Financial. In the realm of life insurance, it's noteworthy that customer feedback often centers around the policy acquisition phase, ongoing support and overall service quality rather than direct experiences with claims and payouts. This tendency stems from the fact that life insurance claims are handled by beneficiaries, who may not be the same person or entity as the policyholder. Therefore, the insights gleaned from these platforms primarily reflect Brighthouse Financial's customer service and policy management practices, offering prospective customers a snapshot of what they might encounter when interacting with the company.
Reddit and Trustpilot reviews
In the realm of life insurance, the quality of customer service can significantly impact the policyholder's experience. A Reddit discussion from January 2024 highlighted concerns about Brighthouse Financial's customer support, with one user advising, "I would recommend switching if you are worried about customer service. Both will have no problem paying out the death benefit, but customer service is more than that. If you need to change your billing address, your banking information, your beneficiary information, etc. during the life of the policy you will need to reach out to the company's customer support team. Brighthouse is downright awful."
This sentiment was echoed in another Reddit conversation in April of 2023 where, after initially praising the company for its low rates, concerns about the level of customer support became prevalent. Trustpilot reviews also reflected dissatisfaction, with a user in September of 2023, offering a succinct critique labeling the life insurance quote process with Brighthouse as "horrible."
These firsthand accounts suggest that while Brighthouse life insurance may offer attractive rates, potential customers should weigh the importance of responsive and effective customer service when considering their life insurance options.
Brighthouse Financial company details
For those considering Brighthouse Financial for their insurance needs, here are some key contact details and resources to help you get started or manage your existing policies:
Customer service and claims: These lines are open Monday through Friday, 8:30 a.m. to 6:30 p.m., Eastern time
Life insurance policies ending with BI, BLT, BLW, USU, USV, UT: 1-800-882-1292
Life insurance products ending with US and FM: 1-833-208-3017
Former New England Financial policies: 1-800-388-4000
Brighthouse Financial services customers in all 50 states, but not every policy type is available in every state.
Brighthouse Financial tools and benefits
Brighthouse Financial exclusively offers life insurance products and annuities.
However, the company has a large library of online resources for learning about purchasing the right amount of life insurance coverage, planning for retirement and estate planning, as well as life insurance coverage calculators. If you are new to life insurance or not yet sure how much coverage you will need, how long you want an active policy or if you have other financial planning goals, Brighthouse’s resources may be a good starting place for your research.
Frequently asked questions about Brighthouse Financial
When it comes to corporate social responsibility, Brighthouse Financial is committed to giving back to the community. It frequently partners with organizations like Big Brothers Big Sisters of Tampa Bay, Habitat for Humanity and Heart Math Tutoring.
The company also established the Brighthouse Financial Foundation, which awards grants to nonprofits that support women, children, veterans and the arts. In 2022, it made 19 grants to various organizations, including Habitat For Humanity Charlotte and others. Also in 2022, the company published its first official corporate sustainability report, which details its efforts in promoting environmental, social and governance factors at a companywide scale.
Beneficiaries of a Brighthouse Financial life insurance policy can file a death claim by calling one of the numbers below. Be prepared to share the policy number when calling to file a claim.
Life insurance policies ending with BI, BLT, BLW, USU, USV, UT: 1-800-882-1292
Life insurance products ending with US and FM: 1-833-208-3017
Former New England Financial policies: 1-800-388-4000
Brighthouse Financial’s SmartCare plan is a blend of an indexed universal life insurance policy and long-term care insurance. While it is similar to long-term care insurance, it offers a death benefit for a loved one as well as long-term care coverage for you. If you are looking for a more traditional long-term care plan, another carrier may be a better option.
Yes, Brighthouse Financial is a legitimate life insurance company. While Brighthouse Financial can trace its origins back to 1863, the company became an official entity in 2017. Since then, Brighthouse Financial has racked up several accolades and accomplishments. In 2017, the company was licensed to offer Brighthouse insurance in all 50 states. Later that year, Brighthouse Financial, Inc. began trading on Nasdaq under the symbol “BHF.” Brighthouse Financial has over two million customers and more than $230 billion in assets.
While we strive to provide comprehensive reviews for all companies, Brighthouse Financial does not currently have a Bankrate Score. This is due in part to the highly individualized nature of life insurance rates, which can vary widely based on personal factors, making it challenging to assess overall affordability. Additionally, the quality of a life insurance policy can depend on a variety of elements, including coverage options and the financial strength of the underwriting company. Given these complexities, it's important to conduct thorough research and consider all aspects of a policy beyond just the rates.
Ashlyn Brooks is a finance writer with more than half a decade of experience, known for her knowledge in areas such as taxes, insurance, investing, retirement, finance news, and banking products.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Editorial Independence
Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict
editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
Insurance Disclosure
This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
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