Future policy benefits
MetLife Future policy benefits decreased by 1.1% to $206.63B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 4.5%, from $197.67B to $206.63B. Over 4 years (FY 2020 to FY 2025), Future policy benefits shows relatively stable performance with a -1.8% CAGR.
Analysis
How to read this metric
An increase reflects growing insurance obligations or changes in actuarial assumptions that require higher reserves.
Detailed definition
A liability representing the present value of estimated future payments to be made to policyholders, net of future premi...
Peer comparison
Standard liability metric for all life and health insurance companies to ensure solvency.
ins_future_policy_benefitsHistorical Data
| Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $187.22B | $191.74B | $190.47B | $181.76B | $196.41B | $191.01B | $190.99B | $201.34B | $193.65B | $197.67B | $198.97B | $199.17B | $208.86B | $206.63B |
| QoQ Change | — | +2.4% | -0.7% | -4.6% | +8.1% | -2.7% | -0.0% | +5.4% | -3.8% | +2.1% | +0.7% | +0.1% | +4.9% | -1.1% |
| YoY Change | — | — | — | — | +4.9% | -0.4% | +0.3% | +10.8% | -1.4% | +3.5% | +4.2% | -1.1% | +7.9% | +4.5% |
Product Breakdown
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Fixed & Immediate Annuities | $64.34B | $67.65B | $66.26B | $68.15B | $68.19B | $68.80B | $79.52B | $78.65B |
| Participating Life Insurance Contract | $48.91B | $48.63B | $48.49B | $48.12B | $47.87B | $47.57B | $47.36B | $47.06B |
| Short-Duration Insurance, Other | $13.68B | $13.81B | $13.63B | $14.21B | $14.52B | $14.66B | $14.77B | $15.34B |
| Long-term Care | $14.46B | $15.66B | $14.54B | $14.72B | $14.80B | $15.31B | $15.22B | $14.98B |
| Fixed Annuity | $9.02B | $10.91B | $9.60B | $10.39B | $10.96B | $11.11B | $12.34B | $12.45B |
| Long-Duration Insurance, Other | $10.54B | $11.34B | $10.71B | $10.76B | $11.01B | $11.18B | $11.15B | $11.21B |
| Whole and Term Life & Endowments | $11.26B | $12.66B | $11.17B | $11.57B | $11.84B | $11.36B | $10.14B | $9.24B |
| Accident & health insurance | $9.19B | $10.60B | $9.41B | $9.68B | $9.40B | $8.78B | $7.91B | $7.26B |
| Fixed & Immediate Annuities for Deferred Profit Liabilities | $3.74B | $3.75B | $3.78B | $3.80B | $3.81B | $3.87B | $3.86B | $3.88B |
| Universal and Variable Universal Life | $2.79B | $2.87B | $2.85B | $2.90B | $2.95B | $2.95B | $3.04B | $3.07B |
| Variable Life | $1.07B | $1.23B | $1.11B | $1.16B | $1.19B | $1.15B | $1.07B | $1.05B |
| Accident and Health Insurance Product Line for Deferred Profit Liabilities | $788.00M | $913.00M | $849.00M | $903.00M | $981.00M | $1.01B | $993.00M | $984.00M |
| Whole and Term Life & Endowments for Deferred Profit Liabilities | $690.00M | $785.00M | $759.00M | $798.00M | $899.00M | $912.00M | $919.00M | $915.00M |
| Fixed Annuity for Deferred Profit Liabilities | $522.00M | $549.00M | $498.00M | $521.00M | $531.00M | $518.00M | $562.00M | $540.00M |
| Total | $190.99B | $201.34B | $193.65B | $197.67B | $198.97B | $199.17B | $208.86B | $206.63B |
Variable Annuity for Deferred Profit Liabilities was previously reported and has since been discontinued or reclassified. Only currently active segments are shown in the chart.
Future policy benefits at Other Companies
Frequently Asked Questions
- What is MetLife's future policy benefits?
- MetLife (MET) reported future policy benefits of $206.63B in Q1 2026.
- How has MetLife's future policy benefits changed year-over-year?
- MetLife's future policy benefits increased by 4.5% year-over-year, from $197.67B to $206.63B.
- What is the long-term trend for MetLife's future policy benefits?
- Over 4 years (2020 to 2025), MetLife's future policy benefits has grown at a -1.8% compound annual growth rate (CAGR), from $224.36B to $208.86B.
- What does future policy benefits mean?
- The amount of money the company sets aside to pay out future insurance claims.