Briefs

MetLife is bypassing brokers and going direct to consumers. The insurer has begun selling life policies in boxes adorned with images of Snoopy at Wal-Mart Stores. Shoppers purchase cards equal to the policy’s cost, then call MetLife to answer health questions and activate coverage. Those who don’t qualify can refund their cards or use them as prepaid Discover debit cards. People aged 60 to 65 pay $429 a year for $25,000 worth of coverage, while those 18 to 44 can get a one-year, $10,000 policy for $69. Direct sales, including via the Net, may climb to 13 percent of the U.S. individual life market in 2016, from 8 percent in 2010, the company said in May.

JPMorgan Chase, Bank of America, American Express, and others are bowing out of the $2.4 billion market for add-on financial products as regulators crack down on deceptive marketing. The lenders are reacting to Consumer Financial Protection Bureau fines imposed on Capital One Financial and Discover Financial Services over the sale of products that offer to help customers monitor their credit or pay card bills if they lose their jobs. In settlements, the companies admitted no wrongdoing but agreed to stop marketing add-ons.