What is a total control account from MetLife?

What is a total control account from MetLife?

The MetLife TCA is a product offered by MetLife on which the company may make a profit. The beneficiary pays no monthly maintenance fees on a MetLife TCA. The beneficiary has complete control of, and access to, the entire amount of the insurance proceeds.

How do I withdraw from my MetLife total control account?

You may make withdrawals by written request, telephone (subject to MetLife’s current procedures), or by using the checks we supply to you. The checks are drawn on a bank account made available to you at a bank chosen by MetLife. Each withdrawal must be $250 or more.

Where do I send my MetLife payment?

Mail in your payment to one of the addresses listed below:

1. Term Life, Whole Life, and Universal Life Policies.
2. Variable Life Policies. MetLife. PO Box 371351. Pittsburgh, PA 15250-7351.
3. For all other policies: MetLife. PO Box 371487. Pittsburgh, PA 15250-7487.

What is a total control bank account?

ACCOUNT TYPE/ACCOUNT OPENING: Total Control Checking is a demand deposit checking account that generally allows you to withdraw your money without advance notice to us. Your Total Control Checking account won’t be considered “opened” until it’s funded. This means your balance must be at least a penny.

What is the current interest rate for MetLife total control account?

MetLife, for example, is paying a guaranteed rate of 0.5% on its “Total Control Account” retained-asset accounts. The highest-yielding money-market bank accounts, however, yield roughly 0.9%.

Who is the CEO of MetLife?

Michel A. Khalaf (May 1, 2019–)
MetLife/CEO

What is a Total Access account?

Manage your everyday banking needs with the Total Access account for just $12 per month. Enjoy maximum access to your money through unlimited self-service banking at Scotiabank channels plus 10 branch or cheques transactions. No charge for deposits at Scotiabank ATMs.

How to contact Metropolitan Life total control account?

Metropolitan Life Insurance CompanyTotal Control AccountPO Box 6511Utica, NY 13504-6511 For the TCA Customer Service Center, please call 800-638-7283. Callers with a Telecommunications Device for the Deaf should call 800-229-3037.

Is the MetLife total control account insured by the FDIC?

A MetLife TCA is not a checking, savings, or money market bank account. Since the MetLife TCA is not a bank account, it is not insured by the FDIC or any government agency. Instead, MetLife guarantees the full amount in the MetLife TCA, including all interest earned.

Where can I find information about a MetLife TCA?

If the beneficiary chooses a MetLife TCA, the relationship is between the beneficiary and MetLife, not with the federal government or any of its agencies. You or your beneficiary can find additional information about state guaranty associations on the National Association of Insurance Commissioners (NAIC) website http://www.naic.org.

What does a total control account ( TCA ) do?

The TCA is not a checking, savings or money market account from a bank. The TCA is a settlement option or method used to pay claims under our life insurance and annuity contracts. The terms and provisions of your TCA are set out in the Customer Agreement. Information about the TCA and how it works is also provided in this booklet.