LOS ANGELES (Reuters) - U.S. life insurance companyMetLife Inc (MET.N) on Tuesday said it expects to report income from continuing operations of $1.38 to $1.58 per share and premiums, fees and other revenues of $8.6 billion in the third quarter.

The company, which released its earnings expectations late on Tuesday, said operating earnings were expected to be between $600 million and $675 million, or 83 cents and 93 cents per share.

In last year's third quarter, MetLife reported net earnings of $985 million, or $1.29 per share and operating earnings of $1.52 per share.

The results reflect a decline in variable investment income, which is expected to come in below plan by $117 million, net of income tax, or 16 cents per share.

The company also said a nearly 9 percent decline in the S&P 500 would shave about $105 million, net of income tax, or 14 cents per share, from its quarterly results.

It also estimated its excess capital position to be more than $4 billion, and said sources of liquidity include cash and cash equivalents of about $21 billion as of September 30, up from $14 billion as of June 30.

(Reporting by Gina Keating)

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