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APR calculator

Modal Premium APR Calculator

As a policyholder of MetLife or one of its affiliates you may have a choice among several payment options or modes for paying your premium (annual, semi-annual, quarterly, or monthly). Other than for flexible premium policies, each payment mode, other than annual, results in higher total yearly premium costs. Reasons for the higher cost include added collection costs and the fact that the company does not have use of the entire premium amount at the beginning of each policy period. Among our policyholders, the additional cost varies depending upon several factors including the type of policy you own and the payment mode you choose.

If you select a mode other than annual (meaning you pay more often than once per year) and you would like to know the amount of the additional charge you are paying expressed as an “Annual Percentage Rate” (“APR”) equivalent, you may input your Annual Premium and Payment Mode and Payment Amount into the “Modal Premium APR Calculator” below and press “Calculate APR.” Although the amount of the additional premium when selecting a payment mode other than annual is expressed as an “APR” equivalent, this amount should not be viewed as, and is not, like an interest charge on a loan. Unlike loans, modal premiums are not a debt owed to your insurer. This APR equivalent amount does not mean or imply that you are under any obligation to continue paying modal premiums. If a premium is not paid when due, however, your policy may terminate or its coverage amount may be reduced.

You have the right to change your payment mode, among the modes available, during the life of your policy. In order to make a change or if you have any questions, you may contact a MetLife Customer Service Representative at 1-800-METLIFE or your local representative.

Enter Annual Premium: $
Payment Mode:    
Payment Amount: $
Your APR is:     %



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