What is a Total Control Account?
What is a MetLife Total Control Account (TCA)? The MetLife TCA is a settlement option offered by MetLife for the payment of claims. 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.
How do I access my MetLife TCA account?
Information about your TCA is available to you electronically through MetLife’s eSERVICE Web site. We have established a dedicated customer service toll-free phone number for you to call with any questions about your Account: 800-638-7283.
How do I withdraw money from my 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.
Who is the insured and who is the claimant?
What is the difference between a claimant and the insured? Simply put, the “insured” is a person or business entity that is covered by insurance. A “claimant,” on the other hand, can be any person or organization that suffered a loss and files a request to receive benefits from the insurer.
Is MetLife now Brighthouse?
On March 6, 2017, MetLife separated its U.S. retail business. The separated business launched Brighthouse Financial, Inc. – an independent company that is no longer a part of MetLife. Click here to learn more about Brighthouse Financial.
What’s the difference between insured and claimant?
Simply put, the “insured” is a person or business entity that is covered by insurance. A “claimant,” on the other hand, can be any person or organization that suffered a loss and files a request to receive benefits from the insurer.
What is my total control account backed by?
Your Total Control Account is backed by the financial strength of MetLife. The assets backing the funds are held in MetLife’s general account and are subject to MetLife’s creditors.
What is a MetLife total control account (TCA)?
The Metropolitan Life Insurance Company (MetLife) has a benefits settlement option called the MetLife Total Control Account, also known as the MetLife TCA, which offers flexible spending options to meet different needs. What Is a Metlife Total Control Account.
What is a TCA account?
The Total Control Account (TCA) is a draft account that works like a checking account: • When your account is open, MetLife1 will send you a package which includes additional details about the TCA. We pay the full amount owed to you by placing your proceeds into the TCA and providing you a book of drafts.
Is the total control account available for John Hancock life insurance?
Note: The Total Control Account is not available for John Hancock, Texas Life, New England Life Insurance Company, Brighthouse Life Insurance Company, and Brighthouse Life Insurance Company of NY.