0001193125-17-139109.txt : 20170426
0001193125-17-139109.hdr.sgml : 20170426
20170426145034
ACCESSION NUMBER: 0001193125-17-139109
CONFORMED SUBMISSION TYPE: 485APOS
PUBLIC DOCUMENT COUNT: 3
FILED AS OF DATE: 20170426
DATE AS OF CHANGE: 20170426
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: BRIGHTHOUSE SEPARATE ACCOUNT A
CENTRAL INDEX KEY: 0000356475
IRS NUMBER: 060566090
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 485APOS
SEC ACT: 1933 Act
SEC FILE NUMBER: 333-200323
FILM NUMBER: 17783809
BUSINESS ADDRESS:
STREET 1: BRIGHTHOUSE LIFE INSURANCE COMPANY
STREET 2: 11225 NORTH COMMUNITY HOUSE ROAD
CITY: CHARLOTTE
STATE: NC
ZIP: 28277
BUSINESS PHONE: 617-578-3514
MAIL ADDRESS:
STREET 1: BRIGHTHOUSE LIFE INSURANCE COMPANY
STREET 2: 11225 NORTH COMMUNITY HOUSE ROAD
CITY: CHARLOTTE
STATE: NC
ZIP: 28277
FORMER COMPANY:
FORMER CONFORMED NAME: METLIFE INVESTORS USA SEPARATE ACCOUNT A
DATE OF NAME CHANGE: 20021108
FORMER COMPANY:
FORMER CONFORMED NAME: METLIFE INVESTORS SEPARATE ACCOUNT A
DATE OF NAME CHANGE: 20010314
FORMER COMPANY:
FORMER CONFORMED NAME: SECURITY FIRST LIFE SEPARATE ACCOUNT A
DATE OF NAME CHANGE: 19920703
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: BRIGHTHOUSE SEPARATE ACCOUNT A
CENTRAL INDEX KEY: 0000356475
IRS NUMBER: 060566090
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 485APOS
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-03365
FILM NUMBER: 17783810
BUSINESS ADDRESS:
STREET 1: BRIGHTHOUSE LIFE INSURANCE COMPANY
STREET 2: 11225 NORTH COMMUNITY HOUSE ROAD
CITY: CHARLOTTE
STATE: NC
ZIP: 28277
BUSINESS PHONE: 617-578-3514
MAIL ADDRESS:
STREET 1: BRIGHTHOUSE LIFE INSURANCE COMPANY
STREET 2: 11225 NORTH COMMUNITY HOUSE ROAD
CITY: CHARLOTTE
STATE: NC
ZIP: 28277
FORMER COMPANY:
FORMER CONFORMED NAME: METLIFE INVESTORS USA SEPARATE ACCOUNT A
DATE OF NAME CHANGE: 20021108
FORMER COMPANY:
FORMER CONFORMED NAME: METLIFE INVESTORS SEPARATE ACCOUNT A
DATE OF NAME CHANGE: 20010314
FORMER COMPANY:
FORMER CONFORMED NAME: SECURITY FIRST LIFE SEPARATE ACCOUNT A
DATE OF NAME CHANGE: 19920703
0000356475
S000005224
BRIGHTHOUSE SEPARATE ACCOUNT A
C000151929
Brighthouse Investment Portfolio Architect/SM/ - C Share Option
C000151930
Brighthouse Investment Portfolio Architect/SM/ - Standard Version
485APOS
1
d310063d485apos.txt
BRIGHTHOUSE INVESTMENT PORTFOLIO ARCHITECT/SM/POST-EFFECTIVE AMENDMENT NO. 5
As filed with the Securities and Exchange Commission on April 26, 2017
File Nos. 333-200323
811-03365
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
PRE-EFFECTIVE AMENDMENT NO. [ ]
POST-EFFECTIVE AMENDMENT NO. 5 [X]
AND
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
AMENDMENT NO. 642 [X]
(Check Appropriate Box or Boxes)
Brighthouse Separate Account A
(Exact Name of Registrant)
Brighthouse Life Insurance Company
(Name of Depositor)
11225 North Community House Road
Charlotte, NC 28277
(Address of Depositor's Principal Executive Offices) (Zip Code)
Depositor's Telephone Number, including Area Code
(212) 578-9500
(Name and Address of Agent for Service)
Eric T. Steigerwalt
President
Brighthouse Life Insurance Company
11225 North Community House Road
Charlotte, NC 28277
COPIES TO:
W. Thomas Conner
Reed Smith LLP
1301 K Street, N.W.
Suite 1100 - East Tower
Washington, D.C. 20005-3373
Approximate Date of Proposed Public Offering:
On May 1, 2017 or as soon thereafter as practicable.
It is proposed that this filing will become effective (check appropriate box):
[ ] immediately upon filing pursuant to paragraph (b) of Rule 485.
[ ] on (date) pursuant to paragraph (b) of Rule 485.
[X] 60 days after filing pursuant to paragraph (a)(1) of Rule 485.
[ ] on (date) pursuant to paragraph (a)(1) of Rule 485.
If appropriate, check the following box:
[ ] this post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
Title of Securities Registered: Interest in a separate account under individual
flexible premium deferred variable annuity contracts.
THE VARIABLE ANNUITY CONTRACT
ISSUED BY
BRIGHTHOUSE LIFE INSURANCE COMPANY
AND
BRIGHTHOUSE SEPARATE ACCOUNT A
BRIGHTHOUSE INVESTMENT PORTFOLIO ARCHITECT(SM) -
STANDARD VERSION
BRIGHTHOUSE INVESTMENT PORTFOLIO ARCHITECT(SM) -
C SHARE OPTION
MAY 1, 2017
This prospectus describes the flexible premium deferred variable annuity
contract offered by Brighthouse Life Insurance Company
(Brighthouse or we or us). The contract is offered for
individuals and some tax qualified and non-tax qualified
retirement plans. Currently the contract is not available for new
sales.
The annuity contract has 79 investment choices -- a Fixed Account that offers
an interest rate guaranteed by us, and 78 Investment Portfolios listed
below. IF YOU SELECT THE C SHARE OPTION, THE FIXED ACCOUNT IS NOT AVAILABLE
AS AN INVESTMENT CHOICE.
AMERICAN FUNDS INSURANCE SERIES(R) (CLASS 4)
American Funds Global Small Capitalization Fund
BLACKROCK VARIABLE SERIES FUNDS, INC. (CLASS III)
BlackRock Global Allocation V.I. Fund
BRIGHTHOUSE FUNDS TRUST I (FORMERLY MET INVESTORS SERIES TRUST)
AB Global Dynamic Allocation Portfolio (Class B)
Allianz Global Investors Dynamic Multi-Asset Plus Portfolio (Class B)
American Funds(R) Balanced Allocation Portfolio (Class C)
American Funds(R) Growth Allocation Portfolio (Class C)
American Funds(R) Growth Portfolio (Class C)
American Funds(R) Moderate Allocation Portfolio (Class C)
AQR Global Risk Balanced Portfolio (Class B)
BlackRock Global Tactical Strategies Portfolio (Class B)
BlackRock High Yield Portfolio (Class B)
Brighthouse Asset Allocation 100 Portfolio (Class B) (formerly MetLife
Asset Allocation 100 Portfolio)
Brighthouse Balanced Plus Portfolio (Class B) (formerly MetLife Balanced
Plus Portfolio)
Brighthouse Small Cap Value Portfolio (Class B) (formerly MetLife Small
Cap Value Portfolio)
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class B) (formerly
Met/Aberdeen Emerging Markets Equity Portfolio)
Brighthouse/Artisan International Portfolio (Class B) (formerly
Met/Artisan International Portfolio)
Brighthouse/Eaton Vance Floating Rate Portfolio (Class B) (formerly
Met/Eaton Vance Floating Rate Portfolio)
Brighthouse/Franklin Low Duration Total Return Portfolio (Class B)
(formerly Met/Franklin Low Duration Total Return Portfolio)
Brighthouse/Templeton International Bond Portfolio (Class B) (formerly
Met/Templeton International Bond Portfolio)
Brighthouse/Wellington Large Cap Research Portfolio (Class B) (formerly
Met/Wellington Large Cap Research Portfolio)
Clarion Global Real Estate Portfolio (Class B)
ClearBridge Aggressive Growth Portfolio (Class B)
Goldman Sachs Mid Cap Value Portfolio (Class B)
Harris Oakmark International Portfolio (Class B)
Invesco Balanced-Risk Allocation Portfolio (Class B)
Invesco Comstock Portfolio (Class B)
Invesco Mid Cap Value Portfolio (Class B)
Invesco Small Cap Growth Portfolio (Class B)
JPMorgan Core Bond Portfolio (Class B)
JPMorgan Global Active Allocation Portfolio (Class B)
JPMorgan Small Cap Value Portfolio (Class B)
Loomis Sayles Global Markets Portfolio (Class B)
MetLife Multi-Index Targeted Risk Portfolio (Class B)
MFS(R) Research International Portfolio (Class B)
Morgan Stanley Mid Cap Growth Portfolio (Class B)
1
Oppenheimer Global Equity Portfolio (Class B)
PanAgora Global Diversified Risk Portfolio (Class B)
PIMCO Inflation Protected Bond Portfolio (Class B)
PIMCO Total Return Portfolio (Class B)
Pyramis(R) Government Income Portfolio (Class B)
Pyramis(R) Managed Risk Portfolio (Class B)
Schroders Global Multi-Asset Portfolio (Class B)
SSGA Growth and Income ETF Portfolio (Class B)
SSGA Growth ETF Portfolio (Class B)
T. Rowe Price Large Cap Value Portfolio (Class B)
TCW Core Fixed Income Portfolio (Class B)
BRIGHTHOUSE FUNDS TRUST II (FORMERLY METROPOLITAN SERIES FUND)
Baillie Gifford International Stock Portfolio (Class B)
BlackRock Bond Income Portfolio (Class B)
BlackRock Capital Appreciation Portfolio (Class B)
BlackRock Large Cap Value Portfolio (Class B)
BlackRock Ultra-Short Term Bond Portfolio (Class B)
Brighthouse Asset Allocation 20 Portfolio (Class B) (formerly MetLife
Asset Allocation 20 Portfolio)
Brighthouse Asset Allocation 40 Portfolio (Class B) (formerly MetLife
Asset Allocation 40 Portfolio)
Brighthouse Asset Allocation 60 Portfolio (Class B) (formerly MetLife
Asset Allocation 60 Portfolio)
Brighthouse Asset Allocation 80 Portfolio (Class B) (formerly MetLife
Asset Allocation 80 Portfolio)
Brighthouse/Dimensional International Small Company Portfolio (Class B)
(formerly Met/Dimensional International Small Company Portfolio)
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class B)
(formerly Met/Wellington Core Equity Opportunities Portfolio)
Jennison Growth Portfolio (Class B)
Loomis Sayles Small Cap Core Portfolio (Class B)
MetLife Aggregate Bond Index Portfolio (Class G) (formerly Barclays
Aggregate Bond Index Portfolio)
MetLife Mid Cap Stock Index Portfolio (Class G)
MetLife MSCI EAFE(R) Index Portfolio (Class G) (formerly MSCI EAFE(R)
Index Portfolio)
MetLife Russell 2000(R) Index Portfolio (Class G) (formerly Russell
2000(R) Index Portfolio)
MetLife Stock Index Portfolio (Class G)
MFS(R) Value Portfolio (Class B)
Neuberger Berman Genesis Portfolio (Class B)
T. Rowe Price Large Cap Growth Portfolio (Class B)
T. Rowe Price Small Cap Growth Portfolio (Class G)
VanEck Global Natural Resources Portfolio (Class B) (formerly Van Eck
Global Natural Resources Portfolio)
Western Asset Management Strategic Bond Opportunities Portfolio (Class B)
Western Asset Management U.S. Government Portfolio (Class B)
IVY VARIABLE INSURANCE PORTFOLIOS
Ivy VIP Asset Strategy
MORGAN STANLEY VARIABLE INSURANCE FUND, INC. (CLASS II)
Global Infrastructure Portfolio
OPPENHEIMER VARIABLE ACCOUNT FUNDS (SERVICE SHARES)
Oppenheimer Global Multi-Alternatives Fund/VA
PIMCO VARIABLE INSURANCE TRUST (CLASS M)
PIMCO CommodityRealReturn(R) Strategy Portfolio
PIMCO Emerging Markets Bond Portfolio
PIMCO Unconstrained Bond Portfolio
VANECK VIP TRUST (CLASS S)
VanEck VIP Long/Short Equity Index Fund
Please read this prospectus before investing and keep it on file for future
reference. It contains important information about the Brighthouse Variable
Annuity Contract.
To learn more about the Brighthouse Variable Annuity Contract, you can obtain a
copy of the Statement of Additional Information (SAI) dated May 1, 2017. The
SAI has been filed with the Securities and Exchange Commission (SEC) and is
legally a part of the prospectus. The SEC maintains a Web site
(http://www.sec.gov) that contains the SAI, material incorporated by reference,
and other information regarding companies that file electronically with the
SEC. The Table of Contents of the SAI is on Page 53 of this prospectus. For a
free copy of the SAI, call us at (800) 343-8496, visit our website at
WWW.BRIGHTHOUSEFINANCIAL.COM, or write to us at: 11225 North Community House
Road, Charlotte, NC 28277.
The contracts:
o are not bank deposits
o are not FDIC insured
o are not insured by any federal government agency
o are not guaranteed by any bank or credit union
o may be subject to loss of principal
THE SECURITIES AND EXCHANGE COMMISSION HAS NOT APPROVED OR DISAPPROVED THESE
SECURITIES OR DETERMINED IF THIS PROSPECTUS IS ACCURATE OR COMPLETE. ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
May 1, 2017
2
TABLE OF CONTENTS PAGE
PAGE
INDEX OF SPECIAL TERMS.................................. 4
HIGHLIGHTS.............................................. 5
FEE TABLES AND EXAMPLES................................. 7
1. THE ANNUITY CONTRACT................................. 14
2. PURCHASE............................................. 14
Purchase Payments.................................. 15
Termination for Low Account Value.................. 15
Allocation of Purchase Payments.................... 15
Free Look.......................................... 16
Accumulation Units................................. 17
Account Value...................................... 17
Replacement of Contracts........................... 17
Owning Multiple Contracts.......................... 18
3. INVESTMENT OPTIONS................................... 18
Investment Portfolios That Are Funds-of-Funds...... 22
Transfers.......................................... 22
Asset Allocation Program -- Blueprint Models....... 26
Dollar Cost Averaging Program (DCA)................ 26
Automatic Rebalancing Program...................... 26
Voting Rights...................................... 27
Substitution of Investment Options................. 27
4. EXPENSES............................................. 27
Product Charges.................................... 27
Account Fee........................................ 28
Withdrawal Charge.................................. 28
Reduction or Elimination of the Withdrawal
Charge........................................... 29
Premium and Other Taxes............................ 30
Transfer Fee....................................... 30
Income Taxes....................................... 30
Investment Portfolio Expenses...................... 30
5. ANNUITY PAYMENTS
(THE INCOME PHASE)................................. 30
Annuity Date....................................... 30
Annuity Payments................................... 30
Annuity Options.................................... 31
Variable Annuity Payments.......................... 33
Fixed Annuity Payments............................. 33
6. ACCESS TO YOUR MONEY................................. 33
Systematic Withdrawal Program...................... 35
Suspension of Payments or Transfers................ 35
7. PERFORMANCE.......................................... 35
8. DEATH BENEFIT........................................ 36
Upon Your Death.................................... 36
Standard Death Benefit (Account Value)............. 36
Optional Death Benefit -- Return of Premium........ 36
General Death Benefit Provisions................... 37
Spousal Continuation............................... 37
Death of the Annuitant............................. 38
Controlled Payout.................................. 38
9. FEDERAL INCOME TAX STATUS............................ 38
Non-Qualified Contracts............................ 38
Qualified Contracts................................ 41
10. OTHER INFORMATION................................... 47
Brighthouse Life Insurance Company................. 47
The Separate Account............................... 48
Distributor........................................ 48
Selling Firms...................................... 49
Requests and Elections............................. 50
Ownership.......................................... 51
Legal Proceedings.................................. 52
Financial Statements............................... 52
TABLE OF CONTENTS OF THE STATEMENT OF
ADDITIONAL INFORMATION.................................. 53
APPENDIX A.............................................. A-1
Condensed Financial Information.................... A-1
APPENDIX B.............................................. B-1
Participating Investment Portfolios................ B-1
APPENDIX C.............................................. C-1
Death Benefit Example.............................. C-1
3
INDEX OF SPECIAL TERMS
Because of the complex nature of the contract, we have used certain words or
terms in this prospectus which may need an explanation. We have identified the
following as some of these words or terms. The page that is indicated here is
where we believe you will find the best explanation for the word or term. These
words and terms are in italics on the indicated page.
PAGE
Account Value............................................................ 17
Accumulation Phase....................................................... 14
Accumulation Unit........................................................ 17
Annuitant................................................................ 52
Annuity Date............................................................. 30
Annuity Options.......................................................... 31
Annuity Payments......................................................... 30
Annuity Service Center..................................................... 6
Annuity Units............................................................ 31
Beneficiary.............................................................. 52
Business Day............................................................. 16
Contract Year............................................................ 15
Fixed Account............................................................ 14
Free Look................................................................ 16
Good Order............................................................... 50
Income Phase............................................................. 14
Investment Portfolios.................................................... 18
Joint Owners............................................................. 52
Owner.................................................................... 51
Purchase Payment......................................................... 15
Separate Account......................................................... 48
4
HIGHLIGHTS
The variable annuity contract that we are offering is a contract between you,
the Owner, and us, the insurance company, where you agree to make at least one
Purchase Payment to us and we agree to make a series of Annuity Payments at a
later date. The contract has a maximum issue age and you should consult with
your registered representative. The contract provides a means for investing on
a tax-deferred basis in our Fixed Account and the Investment Portfolios. The
contract is intended for retirement savings or other long-term investment
purposes. When you purchase the contract, you can choose an optional death
benefit and fixed and variable income options. We are obligated to pay all
money we owe under the contracts, including death benefits and income payments.
Any such amount that exceeds the assets in the Separate Account is paid from
our general account, subject to our financial strength and claims-paying
ability and our long-term ability to make such payments, and is not guaranteed
by any other party. (See "Other Information -- The Separate Account".)
The contract allows you to select one of two different charge structures,
referred to as a class, based on your specific situation. The two classes of
the contract are the Standard Version and the C Share Option. Each class
imposes different mortality and expense charges, and the Standard Version of
the contract imposes a withdrawal charge. Depending on your expectations and
preferences, you can choose the class that best meets your needs.
Prior to issuance, you must select either:
o The Standard Version of the contract, which imposes a withdrawal charge on
withdrawals equal to a maximum of 7% of each Purchase Payment, reducing
over five years, and a mortality and expense charge that is lower than the
mortality and expense charge of the C Share Option; or
o The C Share Option, which imposes no withdrawal charge but has a mortality
and expense charge that is higher than the mortality and expense charge of
the Standard Version.
If you elect the C Share Option, you may make withdrawals from your contract,
including a complete withdrawal, at any time without paying a withdrawal
charge, whereas you would need to wait until the sixth Contract Year (i.e., the
Contract Year starting on the day after your fifth contract anniversary) under
the Standard Version to make a complete withdrawal without a withdrawal charge.
However, the C Share Option has a higher mortality and expense charge for the
duration of the contract whereas under the Standard Version the withdrawal
charge is reduced to 0% after five complete years from the receipt of each
Purchase Payment. Which class of the contract is appropriate for you will
depend on your particular circumstances, for example the size and timing of
Purchase Payments and withdrawals you expect to make. In addition, the Fixed
Account is not available if you select the C Share Option. You should carefully
consider which of the two classes is appropriate for you.
The contract, like all deferred annuity contracts, has two phases: the
Accumulation Phase and the Income Phase. During the Accumulation Phase,
earnings accumulate on a tax-deferred basis and are taxed as income when you
make a withdrawal. For the Standard Version, if you make a withdrawal during
the Accumulation Phase, we may assess a withdrawal charge of up to 7%. (There
are no withdrawal charges for the C Share Option.) Certain withdrawals,
depending on the amount and timing, may negatively impact the guarantees
provided by your contract. You should carefully consider whether a withdrawal
under a particular circumstance will have any negative impact to your
guarantees. The impact of withdrawals generally on your guarantees is discussed
in the corresponding sections of the prospectus describing such guarantees.
The Income Phase occurs when you or a designated payee begin receiving regular
Annuity Payments from your contract. You and the Annuitant (the person on whose
life we base Annuity Payments) do not have to be the same, unless you purchase
a tax qualified contract.
You can have Annuity Payments made on a variable basis, a fixed basis, or a
combination of both. If you choose variable Annuity Payments, the amount of the
variable Annuity Payments will depend upon the investment performance of the
Investment Portfolio(s) you select for the Income Phase. If you choose fixed
Annuity Payments, the amount of each payment will not change during the Income
Phase. There is no death benefit during the Income Phase, however, depending on
the Annuity Option you elect, any remaining guarantee (i.e., cash refund amount
or guaranteed Annuity Payments) will be paid to your Beneficiary (or
Beneficiaries) (see "Annuity Payments (The Income Phase)" for more
information).
TAX DEFERRAL AND CERTAIN OWNERS. The contracts are offered for individuals,
some tax qualified and non-tax
5
qualified retirement plans, and certain corporations and other non-natural
persons. For any tax qualified account (e.g., an IRA), the tax deferred accrual
feature is provided by the tax qualified retirement plan. In addition, non-tax
qualified contracts owned by a non-natural person such as a corporation or
certain other legal entities (other than a trust that holds the contract as
agent for a natural person) do not receive tax deferral on earnings. Therefore,
there should be reasons other than tax deferral for acquiring the contract by a
corporation or certain other legal entities, or within a qualified plan. (See
"Federal Income Tax Status.")
STATE VARIATIONS. Contracts issued in your state may provide different features
and benefits from, and impose different costs than, those described in this
prospectus because of state law variations. These differences include, among
other things, Free Look rights, age issuance limitations, transfer rights and
limitations, the right to reject Purchase Payments, the right to assess
transfer fees, and the requirements for unisex annuity rates. However, please
note that the maximum fees and charges for all features and benefits are set
forth in the fee table in this prospectus. This prospectus describes all the
material features of the contract. If you would like to review a copy of the
contract and any endorsements, contact our Annuity Service Center.
FREE LOOK. You may cancel the contract within 10 days after receiving it (or
whatever period is required in your state). If you mail your cancellation
request, the request must be postmarked by the appropriate day; if you deliver
your cancellation request by hand, it must be received by us by the appropriate
day. Unless otherwise required by state law, you will receive whatever your
contract is worth on the day that we receive your cancellation request and we
will not deduct a withdrawal charge. The amount you receive may be more or less
than your Purchase Payment depending upon the performance of the Investment
Portfolios (and, for the Standard Version, any interest credited by the Fixed
Account, if applicable). You bear the risk of any decline in Account Value. We
do not refund any charges or deductions assessed during the Free Look period.
We will return your Purchase Payment if required by law.
TAX PENALTY. The earnings in your contract are not taxed until you take money
out of your contract (unless the contract is owned by a corporation or other
legal entity not holding the contract as agent for a natural person). If you
take money out of a Non-Qualified Contract during the Accumulation Phase, for
tax purposes any earnings are deemed to come out first. If you are younger than
59 1/2 when you take money out, you may be charged a 10% federal tax penalty on
those earnings. Payments during the Income Phase are considered partly a return
of your original investment until your investment is returned.
NON-NATURAL PERSONS AS OWNERS. If the Owner of a non-qualified annuity contract
is not a natural person (e.g., is a corporation, partnership, or a trust other
than a trust that holds the contract as agent for a natural person), gains
under the contract are generally not eligible for tax deferral. The Owner of
this contract can be a natural person or, subject to our administrative
procedures, a corporation or other legal entity we approve. The Owner of this
contract, if held by or for the benefit of a natural person, can also be a
Beneficiary of a deceased person's contract that is an Individual Retirement
Account or non-qualified deferred annuity. A contract generally may have two
Owners (both of whom must be individuals). The contract is not available to
corporations or other legal entities to fund a qualified or non-qualified
retirement plan except to the extent an employer is the purchaser of a SEP
contract. Subject to state approval, certain retirement plans qualified under
the Internal Revenue Code may purchase the contract. If a non-natural person is
the Owner of a Non-Qualified Contract, the distribution on death rules under
the Internal Revenue Code may require payment to begin earlier than expected
and may impact the usefulness of the optional Return of Premium death benefit.
NON-NATURAL PERSONS AS BENEFICIARIES. Naming a non-natural person, such as a
trust or estate, as a Beneficiary under the contract will generally eliminate
the Beneficiary's ability to stretch the contract or a spousal Beneficiary's
ability to continue the contract and the death benefits.
INQUIRIES. If you need more information, please contact our Annuity Service
Center at:
P.O. Box 10366
Des Moines, Iowa 50306-0366
(800) 343-8496
ELECTRONIC DELIVERY. As an Owner you may elect to receive electronic delivery
of current prospectuses related to this contract, prospectuses and annual and
semi-annual reports for the Investment Portfolios and other contract related
documents.
Contact us at WWW.BRIGHTHOUSEFINANCIAL.COM for more information and to enroll.
6
FEE TABLES AND EXAMPLES
THE FOLLOWING TABLES DESCRIBE THE FEES AND EXPENSES THAT YOU WILL PAY WHEN
BUYING, OWNING, AND SURRENDERING THE CONTRACT. THE FIRST TABLE DESCRIBES THE
FEES AND EXPENSES THAT YOU WILL PAY AT THE TIME THAT YOU BUY THE CONTRACT,
SURRENDER THE CONTRACT, OR TRANSFER ACCOUNT VALUE BETWEEN INVESTMENT OPTIONS.
STATE PREMIUM TAXES OF 0% TO 3.5% MAY ALSO BE DEDUCTED.
--------------------------------------------------------------------------------
OWNER TRANSACTION EXPENSES TABLE
WITHDRAWAL CHARGE
BRIGHTHOUSE INVESTMENT PORTFOLIO ARCHITECT - STANDARD VERSION 7%
(Note 1)
(as a percentage of Purchase Payments)
BRIGHTHOUSE INVESTMENT PORTFOLIO ARCHITECT - C SHARE OPTION None
(as a percentage of Purchase Payments)
TRANSFER FEE (Note 2) $25
$0 (First 12 per year)
--------------------------------------------------------------------------------
Note 1. For the Standard Version of the contract, if an amount withdrawn is
determined to include the withdrawal of prior Purchase Payments, a withdrawal
charge may be assessed. Withdrawal charges are calculated in accordance with
the following. (See "Expenses -- Withdrawal Charge.")
Number of Complete Years from Withdrawal Charge
Receipt of Purchase Payment (% of Purchase Payment)
------------------------------- ------------------------
0 7
1 7
2 6
3 6
4 5
5 and thereafter 0
Note 2. There is no charge for the first 12 transfers in a Contract Year;
thereafter the fee is $25 per transfer. Brighthouse is currently waiving the
transfer fee, but reserves the right to charge the fee in the future.
7
THE NEXT TABLES DESCRIBE THE FEES AND EXPENSES THAT YOU WILL PAY PERIODICALLY
DURING THE TIME THAT YOU OWN THE CONTRACT, NOT INCLUDING INVESTMENT PORTFOLIO
FEES AND EXPENSES.
--------------------------------------------------------------------------------
SEPARATE ACCOUNT ANNUAL EXPENSES (Note 2)
(referred to as Separate Account Product Charges)
(as a percentage of average Account Value in the Separate Account)
BRIGHTHOUSE INVESTMENT PORTFOLIO ARCHITECT - STANDARD
-------------------------------------------------------
VERSION
-------------------------------------------------------
Mortality and Expense Charge 0.85%
Administration Charge (Note 3) 0.25%
----
Total Separate Account Annual Expenses 1.10%
Optional Death Benefit -- Return of Premium 0.25%
Total Separate Account Annual Expenses
Including Charge for Optional Death Benefit 1.35%
BRIGHTHOUSE INVESTMENT PORTFOLIO ARCHITECT - C SHARE
-------------------------------------------------------
OPTION
-------------------------------------------------------
Mortality and Expense Charge 1.10%
Administration Charge 0.25%
----
Total Separate Account Annual Expenses 1.35%
Optional Death Benefit -- Return of Premium 0.25%
Total Separate Account Annual Expenses
Including Charge for Optional Death Benefit 1.60%
--------------------------------------------------------------------------------
Note 1. An account fee of $30 is charged on the last day of each Contract Year
if the Account Value is less than $50,000. Different policies apply during the
Income Phase of the contract. (See "Expenses.")
Note 2. Certain charges may not apply during the Income Phase of the
contract. (See "Expenses.")
Note 3. The administration charge may be reduced in certain circumstances. For
contracts with $500,000 or greater in cumulative Purchase Payments, the
administration charge is reduced to 0.10% for the Standard Version and 0.15%
for the C Share Option. Please see "Expenses - Product Charges - Reduced
Administration Charge" for more information.
8
--------------------------------------------------------------------------------
THE NEXT TABLE SHOWS THE MINIMUM AND MAXIMUM TOTAL OPERATING EXPENSES CHARGED
BY THE INVESTMENT PORTFOLIOS THAT YOU MAY PAY PERIODICALLY DURING THE TIME THAT
YOU OWN THE CONTRACT. CERTAIN INVESTMENT PORTFOLIOS MAY IMPOSE A REDEMPTION FEE
IN THE FUTURE. MORE DETAIL CONCERNING EACH INVESTMENT PORTFOLIO'S FEES AND
EXPENSES IS CONTAINED IN THE PROSPECTUSES FOR THE INVESTMENT PORTFOLIOS AND IN
THE FOLLOWING TABLES. FOR INFORMATION CONCERNING COMPENSATION PAID FOR THE SALE
OF THE CONTRACTS, SEE "OTHER INFORMATION -- DISTRIBUTOR."
MINIMUM AND MAXIMUM TOTAL ANNUAL INVESTMENT PORTFOLIO OPERATING EXPENSES
Minimum Maximum
--------- --------
Total Annual Investment Portfolio Operating Expenses
(expenses that are deducted from Investment Portfolio assets, including 0.57% 5.15%
management fees, distribution and/or service (12b-1) fees, and other
expenses)
INVESTMENT PORTFOLIO FEES AND EXPENSES
(as a percentage of average daily net assets)
The following table is a summary. For more complete information on Investment
Portfolio fees and expenses, please refer to the prospectus for each Investment
Portfolio.
DISTRIBUTION
AND/OR
MANAGEMENT SERVICE OTHER
INVESTMENT PORTFOLIO FEE (12B-1) FEES EXPENSES
------------------------------------------ ------------ -------------- ----------
AMERICAN FUNDS INSURANCE SERIES(R)
American Funds Global Small 0.70% 0.25% 0.29%
Capitalization Fund
BLACKROCK VARIABLE SERIES FUNDS,
INC.
BlackRock Global Allocation V.I. Fund 0.63% 0.25% 0.24%
BRIGHTHOUSE FUNDS TRUST I
AB Global Dynamic Allocation Portfolio 0.61% 0.25% 0.03%
Allianz Global Investors Dynamic Multi- 0.68% 0.25% 0.27%
Asset Plus Portfolio
American Funds(R) Balanced Allocation 0.06% 0.55% --
Portfolio
American Funds(R) Growth Allocation 0.06% 0.55% 0.01%
Portfolio
American Funds(R) Growth Portfolio -- 0.55% 0.02%
American Funds(R) Moderate Allocation 0.06% 0.55% 0.01%
Portfolio
AQR Global Risk Balanced Portfolio 0.61% 0.25% 0.03%
BlackRock Global Tactical Strategies 0.66% 0.25% 0.01%
Portfolio
BlackRock High Yield Portfolio 0.60% 0.25% 0.07%
Brighthouse Asset Allocation 100 0.07% 0.25% 0.01%
Portfolio
Brighthouse Balanced Plus Portfolio 0.24% 0.25% 0.01%
Brighthouse Small Cap Value Portfolio 0.75% 0.25% 0.04%
Brighthouse/Aberdeen Emerging Markets 0.89% 0.25% 0.11%
Equity Portfolio
Brighthouse/Artisan International 0.75% 0.25% 0.05%
Portfolio
Brighthouse/Eaton Vance Floating Rate 0.60% 0.25% 0.07%
Portfolio
ACQUIRED TOTAL FEE WAIVER NET TOTAL
FUND FEES ANNUAL AND/OR ANNUAL
AND OPERATING EXPENSE OPERATING
INVESTMENT PORTFOLIO EXPENSES EXPENSES REIMBURSEMENT EXPENSES
------------------------------------------ ----------- ----------- --------------- ----------
AMERICAN FUNDS INSURANCE SERIES(R)
American Funds Global Small -- 1.24% -- 1.24%
Capitalization Fund
BLACKROCK VARIABLE SERIES FUNDS,
INC.
BlackRock Global Allocation V.I. Fund -- 1.12% 0.13% 0.99%
BRIGHTHOUSE FUNDS TRUST I
AB Global Dynamic Allocation Portfolio 0.01% 0.90% 0.02% 0.88%
Allianz Global Investors Dynamic Multi- 0.03% 1.23% -- 1.23%
Asset Plus Portfolio
American Funds(R) Balanced Allocation 0.42% 1.03% -- 1.03%
Portfolio
American Funds(R) Growth Allocation 0.43% 1.05% -- 1.05%
Portfolio
American Funds(R) Growth Portfolio 0.35% 0.92% -- 0.92%
American Funds(R) Moderate Allocation 0.40% 1.02% -- 1.02%
Portfolio
AQR Global Risk Balanced Portfolio 0.06% 0.95% 0.01% 0.94%
BlackRock Global Tactical Strategies 0.09% 1.01% 0.03% 0.98%
Portfolio
BlackRock High Yield Portfolio 0.08% 1.00% -- 1.00%
Brighthouse Asset Allocation 100 0.68% 1.01% -- 1.01%
Portfolio
Brighthouse Balanced Plus Portfolio 0.42% 0.92% 0.01% 0.91%
Brighthouse Small Cap Value Portfolio 0.06% 1.10% 0.01% 1.09%
Brighthouse/Aberdeen Emerging Markets -- 1.25% 0.06% 1.19%
Equity Portfolio
Brighthouse/Artisan International -- 1.05% -- 1.05%
Portfolio
Brighthouse/Eaton Vance Floating Rate -- 0.92% -- 0.92%
Portfolio
9
DISTRIBUTION
AND/OR
MANAGEMENT SERVICE OTHER
INVESTMENT PORTFOLIO FEE (12B-1) FEES EXPENSES
-------------------------------------------- ------------ -------------- ----------
Brighthouse/Franklin Low Duration Total 0.49% 0.25% 0.05%
Return Portfolio
Brighthouse/Templeton International 0.60% 0.25% 0.09%
Bond Portfolio
Brighthouse/Wellington Large Cap 0.56% 0.25% 0.03%
Research Portfolio
Clarion Global Real Estate Portfolio 0.61% 0.25% 0.04%
ClearBridge Aggressive Growth Portfolio 0.56% 0.25% 0.01%
Goldman Sachs Mid Cap Value Portfolio 0.72% 0.25% 0.04%
Harris Oakmark International Portfolio 0.77% 0.25% 0.04%
Invesco Balanced-Risk Allocation 0.64% 0.25% 0.03%
Portfolio
Invesco Comstock Portfolio 0.57% 0.25% 0.02%
Invesco Mid Cap Value Portfolio 0.65% 0.25% 0.03%
Invesco Small Cap Growth Portfolio 0.85% 0.25% 0.03%
JPMorgan Core Bond Portfolio 0.55% 0.25% 0.02%
JPMorgan Global Active Allocation 0.72% 0.25% 0.05%
Portfolio
JPMorgan Small Cap Value Portfolio 0.78% 0.25% 0.05%
Loomis Sayles Global Markets Portfolio 0.70% 0.25% 0.08%
MetLife Multi-Index Targeted Risk 0.17% 0.25% 0.01%
Portfolio
MFS(R) Research International Portfolio 0.70% 0.25% 0.04%
Morgan Stanley Mid Cap Growth 0.65% 0.25% 0.05%
Portfolio
Oppenheimer Global Equity Portfolio 0.66% 0.25% 0.05%
PanAgora Global Diversified Risk 0.65% 0.25% 0.40%
Portfolio
PIMCO Inflation Protected Bond 0.47% 0.25% 0.28%
Portfolio
PIMCO Total Return Portfolio 0.48% 0.25% 0.05%
Pyramis(R) Government Income Portfolio 0.42% 0.25% 0.03%
Pyramis(R) Managed Risk Portfolio 0.45% 0.25% 0.03%
Schroders Global Multi-Asset Portfolio 0.64% 0.25% 0.07%
SSGA Growth and Income ETF Portfolio 0.31% 0.25% 0.01%
SSGA Growth ETF Portfolio 0.32% 0.25% 0.02%
T. Rowe Price Large Cap Value Portfolio 0.57% 0.25% 0.02%
TCW Core Fixed Income Portfolio 0.55% 0.25% 0.02%
BRIGHTHOUSE FUNDS TRUST II
Baillie Gifford International Stock 0.80% 0.25% 0.05%
Portfolio
BlackRock Bond Income Portfolio 0.33% 0.25% 0.04%
BlackRock Capital Appreciation Portfolio 0.70% 0.25% 0.02%
BlackRock Large Cap Value Portfolio 0.63% 0.25% 0.03%
BlackRock Ultra-Short Term Bond 0.35% 0.25% 0.03%
Portfolio
Brighthouse Asset Allocation 20 Portfolio 0.09% 0.25% 0.03%
Brighthouse Asset Allocation 40 Portfolio 0.06% 0.25% --
Brighthouse Asset Allocation 60 Portfolio 0.05% 0.25% --
Brighthouse Asset Allocation 80 Portfolio 0.05% 0.25% 0.01%
ACQUIRED TOTAL FEE WAIVER NET TOTAL
FUND FEES ANNUAL AND/OR ANNUAL
AND OPERATING EXPENSE OPERATING
INVESTMENT PORTFOLIO EXPENSES EXPENSES REIMBURSEMENT EXPENSES
-------------------------------------------- ----------- ----------- --------------- -----------
Brighthouse/Franklin Low Duration Total -- 0.79% 0.02% 0.77%
Return Portfolio
Brighthouse/Templeton International -- 0.94% -- 0.94%
Bond Portfolio
Brighthouse/Wellington Large Cap -- 0.84% 0.04% 0.80%
Research Portfolio
Clarion Global Real Estate Portfolio -- 0.90% -- 0.90%
ClearBridge Aggressive Growth Portfolio -- 0.82% 0.02% 0.80%
Goldman Sachs Mid Cap Value Portfolio -- 1.01% 0.06% 0.95%
Harris Oakmark International Portfolio -- 1.06% 0.02% 1.04%
Invesco Balanced-Risk Allocation 0.03% 0.95% 0.03% 0.92%
Portfolio
Invesco Comstock Portfolio -- 0.84% 0.02% 0.82%
Invesco Mid Cap Value Portfolio 0.05% 0.98% 0.02% 0.96%
Invesco Small Cap Growth Portfolio -- 1.13% 0.02% 1.11%
JPMorgan Core Bond Portfolio -- 0.82% 0.13% 0.69%
JPMorgan Global Active Allocation -- 1.02% 0.04% 0.98%
Portfolio
JPMorgan Small Cap Value Portfolio -- 1.08% 0.10% 0.98%
Loomis Sayles Global Markets Portfolio -- 1.03% -- 1.03%
MetLife Multi-Index Targeted Risk 0.22% 0.65% -- 0.65%
Portfolio
MFS(R) Research International Portfolio -- 0.99% 0.06% 0.93%
Morgan Stanley Mid Cap Growth -- 0.95% 0.01% 0.94%
Portfolio
Oppenheimer Global Equity Portfolio -- 0.96% 0.10% 0.86%
PanAgora Global Diversified Risk 0.04% 1.34% -- 1.34%
Portfolio
PIMCO Inflation Protected Bond -- 1.00% 0.01% 0.99%
Portfolio
PIMCO Total Return Portfolio -- 0.78% 0.03% 0.75%
Pyramis(R) Government Income Portfolio -- 0.70% -- 0.70%
Pyramis(R) Managed Risk Portfolio 0.47% 1.20% 0.10% 1.10%
Schroders Global Multi-Asset Portfolio 0.01% 0.97% -- 0.97%
SSGA Growth and Income ETF Portfolio 0.22% 0.79% -- 0.79%
SSGA Growth ETF Portfolio 0.24% 0.83% -- 0.83%
T. Rowe Price Large Cap Value Portfolio -- 0.84% 0.03% 0.81%
TCW Core Fixed Income Portfolio -- 0.82% 0.14% 0.68%
BRIGHTHOUSE FUNDS TRUST II
Baillie Gifford International Stock -- 1.10% 0.12% 0.98%
Portfolio
BlackRock Bond Income Portfolio -- 0.62% -- 0.62%
BlackRock Capital Appreciation Portfolio -- 0.97% 0.09% 0.88%
BlackRock Large Cap Value Portfolio -- 0.91% 0.03% 0.88%
BlackRock Ultra-Short Term Bond -- 0.63% 0.02% 0.61%
Portfolio
Brighthouse Asset Allocation 20 Portfolio 0.53% 0.90% 0.02% 0.88%
Brighthouse Asset Allocation 40 Portfolio 0.57% 0.88% -- 0.88%
Brighthouse Asset Allocation 60 Portfolio 0.60% 0.90% -- 0.90%
Brighthouse Asset Allocation 80 Portfolio 0.64% 0.95% -- 0.95%
10
DISTRIBUTION
AND/OR
MANAGEMENT SERVICE OTHER
INVESTMENT PORTFOLIO FEE (12B-1) FEES EXPENSES
------------------------------------------ ------------ -------------- ----------
Brighthouse/Dimensional International 0.81% 0.25% 0.12%
Small Company Portfolio
Brighthouse/Wellington Core Equity 0.70% 0.25% 0.02%
Opportunities Portfolio
Jennison Growth Portfolio 0.60% 0.25% 0.02%
Loomis Sayles Small Cap Core Portfolio 0.90% 0.25% 0.06%
MetLife Aggregate Bond Index Portfolio 0.25% 0.30% 0.03%
MetLife Mid Cap Stock Index Portfolio 0.25% 0.30% 0.05%
MetLife MSCI EAFE(R) Index Portfolio 0.30% 0.30% 0.08%
MetLife Russell 2000(R) Index Portfolio 0.25% 0.30% 0.06%
MetLife Stock Index Portfolio 0.25% 0.30% 0.02%
MFS(R) Value Portfolio 0.70% 0.25% 0.02%
Neuberger Berman Genesis Portfolio 0.81% 0.25% 0.04%
T. Rowe Price Large Cap Growth 0.60% 0.25% 0.02%
Portfolio
T. Rowe Price Small Cap Growth 0.47% 0.30% 0.03%
Portfolio
VanEck Global Natural Resources 0.78% 0.25% 0.03%
Portfolio
Western Asset Management Strategic 0.57% 0.25% 0.03%
Bond Opportunities Portfolio
Western Asset Management 0.47% 0.25% 0.03%
U.S. Government Portfolio
IVY VARIABLE INSURANCE PORTFOLIOS
Ivy VIP Asset Strategy 0.70% 0.25% 0.06%
MORGAN STANLEY VARIABLE INSURANCE
FUND, INC.
Global Infrastructure Portfolio 0.85% 0.25% 0.44%
OPPENHEIMER VARIABLE ACCOUNT
FUNDS
Oppenheimer Global Multi-Alternatives 1.03% 0.25% 0.44%
Fund/VA
PIMCO VARIABLE INSURANCE TRUST
PIMCO CommodityRealReturn(R) Strategy 0.74% 0.45% 0.29%
Portfolio
PIMCO Emerging Markets Bond 0.85% 0.45% --
Portfolio
PIMCO Unconstrained Bond Portfolio 0.90% 0.45% 0.01%
VANECK VIP TRUST
VanEck VIP Long/Short Equity Index 0.65% 0.25% 4.17%
Fund
ACQUIRED TOTAL FEE WAIVER NET TOTAL
FUND FEES ANNUAL AND/OR ANNUAL
AND OPERATING EXPENSE OPERATING
INVESTMENT PORTFOLIO EXPENSES EXPENSES REIMBURSEMENT EXPENSES
------------------------------------------ ----------- ----------- --------------- -----------
Brighthouse/Dimensional International -- 1.18% 0.01% 1.17%
Small Company Portfolio
Brighthouse/Wellington Core Equity -- 0.97% 0.11% 0.86%
Opportunities Portfolio
Jennison Growth Portfolio -- 0.87% 0.08% 0.79%
Loomis Sayles Small Cap Core Portfolio 0.04% 1.25% 0.08% 1.17%
MetLife Aggregate Bond Index Portfolio -- 0.58% 0.01% 0.57%
MetLife Mid Cap Stock Index Portfolio 0.01% 0.61% -- 0.61%
MetLife MSCI EAFE(R) Index Portfolio 0.01% 0.69% -- 0.69%
MetLife Russell 2000(R) Index Portfolio 0.01% 0.62% -- 0.62%
MetLife Stock Index Portfolio -- 0.57% 0.01% 0.56%
MFS(R) Value Portfolio -- 0.97% 0.14% 0.83%
Neuberger Berman Genesis Portfolio -- 1.10% 0.01% 1.09%
T. Rowe Price Large Cap Growth -- 0.87% 0.02% 0.85%
Portfolio
T. Rowe Price Small Cap Growth -- 0.80% -- 0.80%
Portfolio
VanEck Global Natural Resources -- 1.06% 0.01% 1.05%
Portfolio
Western Asset Management Strategic 0.01% 0.86% 0.05% 0.81%
Bond Opportunities Portfolio
Western Asset Management -- 0.75% 0.01% 0.74%
U.S. Government Portfolio
IVY VARIABLE INSURANCE PORTFOLIOS
Ivy VIP Asset Strategy 0.01% 1.02% -- 1.02%
MORGAN STANLEY VARIABLE INSURANCE
FUND, INC.
Global Infrastructure Portfolio -- 1.54% 0.42% 1.12%
OPPENHEIMER VARIABLE ACCOUNT
FUNDS
Oppenheimer Global Multi-Alternatives 0.01% 1.73% 0.04% 1.69%
Fund/VA
PIMCO VARIABLE INSURANCE TRUST
PIMCO CommodityRealReturn(R) Strategy 0.14% 1.62% 0.14% 1.48%
Portfolio
PIMCO Emerging Markets Bond -- 1.30% -- 1.30%
Portfolio
PIMCO Unconstrained Bond Portfolio -- 1.36% -- 1.36%
VANECK VIP TRUST
VanEck VIP Long/Short Equity Index 0.08% 5.15% 3.92% 1.23%
Fund
The information shown in the table above was provided by the Investment
Portfolios. Certain Investment Portfolios and their investment adviser have
entered into expense reimbursement and/or fee waiver arrangements that will
continue from May 1, 2017 through April 30, 2018. These arrangements can be
terminated with respect to these Investment Portfolios only with the approval
of the Investment Portfolio's board of directors or trustees. Please see the
Investment Portfolios' prospectuses for additional information regarding these
arrangements.
Certain Investment Portfolios that have "Acquired Fund Fees and Expenses" are
"funds of funds." A fund of funds invests substantially all of its assets in
other underlying funds. Because the Investment Portfolio invests in other
funds, it will bear its pro rata portion of the operating expenses of those
underlying funds, including the management fee.
11
EXAMPLES
THESE EXAMPLES ARE INTENDED TO HELP YOU COMPARE THE COST OF INVESTING IN THE
CONTRACT WITH THE COST OF INVESTING IN OTHER VARIABLE ANNUITY CONTRACTS. THESE
COSTS INCLUDE OWNER TRANSACTION EXPENSES, THE ACCOUNT FEE, SEPARATE ACCOUNT
ANNUAL EXPENSES, AND INVESTMENT PORTFOLIO FEES AND EXPENSES.
THE EXAMPLES ASSUME THAT YOU INVEST $10,000 IN THE CONTRACT FOR THE TIME
PERIODS INDICATED. THE EXAMPLES ALSO ASSUME THAT YOUR INVESTMENT HAS A 5%
RETURN EACH YEAR AND ASSUME: (A) MAXIMUM AND (B) MINIMUM FEES AND EXPENSES OF
ANY OF THE INVESTMENT PORTFOLIOS (BEFORE ANY WAIVER AND/OR REIMBURSEMENT).
ALTHOUGH YOUR ACTUAL COSTS MAY BE HIGHER OR LOWER, BASED ON THESE ASSUMPTIONS,
YOUR COSTS WOULD BE:
BRIGHTHOUSE INVESTMENT PORTFOLIO ARCHITECT - STANDARD VERSION
CHART 1. Chart 1 assumes you select the optional Return of Premium death
benefit, which is the most expensive way to purchase the contract.
(1) IF YOU SURRENDER YOUR CONTRACT AT THE END OF THE APPLICABLE TIME PERIOD:
Time Periods
1 year 3 years 5 years 10 years
-------- --------- --------- ---------
maximum $1,380 $2,487 $3,627 $6,092
minimum $ 922 $1,163 $1,499 $2,234
(2) IF YOU DO NOT SURRENDER YOUR CONTRACT OR IF YOU ANNUITIZE AT THE END OF THE
APPLICABLE TIME PERIOD:
Time Periods
1 year 3 years 5 years 10 years
-------- --------- --------- ---------
maximum $680 $1,947 $3,177 $6,092
minimum $222 $ 623 $1,049 $2,234
CHART 2. Chart 2 assumes that you do not select the optional Return of Premium
death benefit, which is the least expensive way to purchase the contract.
(1) IF YOU SURRENDER YOUR CONTRACT AT THE END OF THE APPLICABLE TIME PERIOD:
Time Periods
1 year 3 years 5 years 10 years
-------- --------- --------- ---------
maximum $1,355 $2,418 $3,521 $5,924
minimum $ 897 $1,087 $1,371 $1,969
(2) IF YOU DO NOT SURRENDER YOUR CONTRACT OR IF YOU ANNUITIZE AT THE END OF THE
APPLICABLE TIME PERIOD:
Time Periods
1 year 3 years 5 years 10 years
-------- --------- --------- ---------
maximum $655 $1,878 $3,071 $5,924
minimum $197 $ 547 $ 921 $1,969
12
BRIGHTHOUSE INVESTMENT PORTFOLIO ARCHITECT - C SHARE OPTION
CHART 1. Chart 1 assumes you select the optional Return of Premium death
benefit, which is the most expensive way to purchase the contract.
(1) IF YOU SURRENDER, DO NOT SURRENDER OR IF YOU ANNUITIZE YOUR CONTRACT AT THE
END OF THE APPLICABLE TIME PERIOD:
Time Periods
1 year 3 years 5 years 10 years
-------- --------- --------- ---------
maximum $705 $2,016 $3,281 $6,256
minimum $247 $ 698 $1,176 $2,492
CHART 2. Chart 2 assumes that you do not select the optional Return of Premium
death benefit, which is the least expensive way to purchase the contract.
(1) IF YOU SURRENDER, DO NOT SURRENDER OR IF YOU ANNUITIZE YOUR CONTRACT AT THE
END OF THE APPLICABLE TIME PERIOD:
Time Periods
1 year 3 years 5 years 10 years
-------- --------- --------- ---------
maximum $680 $1,947 $3,177 $6,092
minimum $222 $ 623 $1,049 $2,234
The Examples should not be considered a representation of past or future
expenses or annual rates of return of any Investment Portfolio. Actual expenses
and annual rates of return may be more or less than those assumed for the
purpose of the Examples. Condensed financial information containing the
Accumulation Unit value history appears in Appendix A of this prospectus as
well as in the SAI.
13
1. THE ANNUITY CONTRACT
This prospectus describes the variable annuity contract offered by us.
The variable annuity contract is a contract between you as the Owner, and us,
the insurance company, where we promise to pay an income to you, in the form of
Annuity Payments, beginning on a designated date that you select. Until you
decide to begin receiving Annuity Payments, your annuity is in the Accumulation
Phase. If you die during the Accumulation Phase, your Beneficiary (or
Beneficiaries) will receive the death benefit under your contract (see "Death
Benefit" for more information). Once you begin receiving Annuity Payments, your
contract switches to the Income Phase. There is no death benefit during the
Income Phase; however, depending on the Annuity Option you elect, any remaining
guarantee (i.e., cash refund amount or guaranteed Annuity Payments) will be
paid to your Beneficiary(ies) (see "Annuity Payments (The Income Phase)" for
more information).
The contract benefits from tax deferral. Tax deferral means that you are not
taxed on earnings or appreciation on the assets in your contract until you take
money out of your contract. For any tax qualified account (e.g., an IRA), the
tax deferred accrual feature is provided by the tax qualified retirement plan.
Therefore, there should be reasons other than tax deferral for acquiring the
contract within a qualified plan. (See "Federal Income Tax Status.")
The contract is called a variable annuity because you can choose among the
Investment Portfolios and, depending upon market conditions, you can make or
lose money in any of these portfolios. If you select the variable annuity
portion of the contract, the amount of money you are able to accumulate in your
contract during the Accumulation Phase depends upon the investment performance
of the Investment Portfolio(s) you select. The amount of the Annuity Payments
you receive during the Income Phase from the variable annuity portion of the
contract also depends, in part, upon the investment performance of the
Investment Portfolio(s) you select for the Income Phase. We do not guarantee
the investment performance of the variable annuity portion. You bear the full
investment risk for all amounts allocated to the variable annuity portion.
In most states, the contract also contains a Fixed Account option (contact your
registered representative regarding your state). The Fixed Account is part of
our general account and offers an interest rate that is guaranteed by us. The
minimum interest rate depends on the date your contract is issued but will not
be less than 1%. Your registered representative can tell you the current and
minimum interest rates that apply. Because of exemptive and exclusionary
provisions, interests in the Fixed Account have not been registered under the
Securities Act of 1933, and neither the Fixed Account nor the general account
has been registered as an investment company under the Investment Company Act
of 1940. If you select the Fixed Account, your money will be placed with our
other general account assets, and the amount of money you are able to
accumulate in your contract during the Accumulation Phase depends upon the
total interest credited to your contract. The Fixed Account is part of our
general account. Our general account consists of all assets owned by us other
than those in the Separate Account and our other separate accounts. We have
sole discretion over the investment of assets in the general account. If you
select a fixed Annuity Payment option during the Income Phase, payments are
made from our general account assets. All guarantees as to Purchase Payments or
Account Value allocated to the Fixed Account, interest credited to the Fixed
Account, and fixed Annuity Payments are subject to our financial strength and
claims-paying ability.
The amount of the Annuity Payments you receive during the Income Phase from a
fixed Annuity Payment option of the contract will remain level for the entire
Income Phase. (Please see "Annuity Payments (The Income Phase)" for more
information.)
As Owner of the contract, you exercise all interests and rights under the
contract. You can change the Owner at any time, subject to our underwriting
rules (see "Death Benefit" for information on how a change of ownership may
affect the death benefit). The contract may be owned generally by Joint Owners
(limited to two natural persons). We provide more information on this under
"Other Information -- Ownership."
All contract provisions will be interpreted and administered in accordance with
the requirements of the Internal Revenue Code (the "Code"). Any Code references
to "spouses" include those persons who enter into lawful marriages under state
law, regardless of sex.
2. PURCHASE
The contract may not be available for purchase through your broker dealer
("selling firm") during certain periods. There are a number of reasons why the
contract periodically may not be available, including that the
14
insurance company wants to limit the volume of sales of the contract. You may
wish to speak to your registered representative about how this may affect your
purchase. For example, you may be required to submit your purchase application
in Good Order prior to or on a stipulated date in order to purchase a contract,
and a delay in such process could result in your not being able to purchase a
contract. In addition, the optional death benefit rider described in this
prospectus may not be available through your selling firm, or both classes of
the contract may not be available through your selling firm, which you may also
wish to discuss with your registered representative. Your selling firm may
offer the contract with a lower maximum issue age for the contract than other
selling firms.
We reserve the right to reject any application.
PURCHASE PAYMENTS
A Purchase Payment is the money you give us to invest in the contract. The
initial Purchase Payment is due on the date the contract is issued. You may
also be permitted to make subsequent Purchase Payments. Initial and subsequent
Purchase Payments are subject to certain requirements. These requirements are
explained below. We may restrict your ability to make subsequent Purchase
Payments. The manner in which subsequent Purchase Payments may be restricted is
discussed below.
GENERAL REQUIREMENTS FOR PURCHASE PAYMENTS. The following requirements apply to
initial and subsequent Purchase Payments:
o The minimum initial Purchase Payment we will accept is $10,000.
o The maximum total Purchase Payments for the contract is $1,000,000, without
prior approval from us.
o The minimum subsequent Purchase Payment is $500 unless you have elected an
electronic funds transfer program approved by us, in which case the
minimum subsequent Purchase Payment is $100 per month.
o We will accept a different amount if required by federal tax law.
o We reserve the right to refuse Purchase Payments made via a personal check
in excess of $100,000. Purchase Payments over $100,000 may be accepted in
other forms, including, but not limited to, EFT/wire transfers, certified
checks, corporate checks, and checks written on financial institutions.
The form in which we receive a Purchase Payment may determine how soon
subsequent disbursement requests may be fulfilled. (See "Access to Your
Money.")
o We will not accept Purchase Payments made with cash, money orders, or
travelers checks.
RESTRICTIONS ON SUBSEQUENT PURCHASE PAYMENTS. We may restrict your ability to
make subsequent Purchase Payments. We will notify you in advance if we impose
restrictions on subsequent Purchase Payments. You and your financial
representative should carefully consider whether our ability to restrict
subsequent Purchase Payments is consistent with your investment objectives.
o We reserve the right to reject any Purchase Payment and to limit future
Purchase Payments. This means that we may restrict your ability to make
subsequent Purchase Payments for any reason, subject to applicable
requirements in your state. We may make certain exceptions to restrictions
on subsequent Purchase Payments in accordance with our established
administrative procedures.
TERMINATION FOR LOW ACCOUNT VALUE
We may terminate your contract by paying you the Account Value in one sum if,
prior to the Annuity Date, you do not make Purchase Payments for two
consecutive Contract Years, the total amount of Purchase Payments made, less
any partial withdrawals, is less than $2,000 or any lower amount required by
federal tax laws, and the Account Value on or after the end of such two year
period is less than $2,000. (A Contract Year is defined as a one-year period
starting on the date the contract is issued and on each contract anniversary
thereafter.) Accordingly, no contract will be terminated due solely to negative
investment performance. Federal tax law may impose additional restrictions on
our right to cancel your Traditional IRA, Roth IRA, SEP, or other Qualified
Contract. We will not terminate any contract that includes a guaranteed death
benefit if at the time the termination would otherwise occur, the guaranteed
amount under any death benefit is greater than the Account Value. For all other
contracts, we reserve the right to exercise this termination provision, subject
to obtaining any required regulatory approvals.
ALLOCATION OF PURCHASE PAYMENTS
When you purchase a contract, we will allocate your Purchase Payment to the
Fixed Account and/or any of the Investment Portfolios you have selected. You
may not choose more than 40 Investment Portfolios (including the
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Fixed Account) at the time your initial Purchase Payment is allocated. The
Fixed Account is not available if you selected the C Share Option. Each
allocation must be at least $500 and must be in whole numbers.
Your selling firm may make one or more of the Investment Portfolios unavailable
when you apply for the contract. However, after your contract has been issued,
all of the Investment Portfolios are available for Purchase Payments or Account
Value transfers. Please be aware that your registered representative may not be
able to provide you any information or answer any questions you may have about
the Investment Portfolio(s) that your selling firm does make unavailable.
Therefore, for transactions involving such Investment Portfolio(s), you may
need to contact us directly, as described in the "Other Information - Requests
and Elections" section. Any such transfer will be counted for purposes of any
applicable transfer fee. (See "Expenses -- Transfer Fee.")
We have reserved the right to restrict payments to the Fixed Account if any of
the following conditions exist:
o the credited interest rate on the Fixed Account is equal to the guaranteed
minimum rate indicated in your contract; or
o your Account Value in the Fixed Account equals or exceeds our published
maximum for Fixed Account allocation (currently, there is no limit; we
will notify you of any such maximum allocation limit); or
o a transfer was made out of the Fixed Account within the previous 180 days.
Once we receive your Purchase Payment and the necessary information (or a
designee receives a payment and the necessary information in accordance with
the designee's administrative procedures), we will issue your contract and
allocate your first Purchase Payment within 2 Business Days. A Business Day is
each day that the New York Stock Exchange is open for business. A Business Day
closes at the close of normal trading on the New York Stock Exchange, usually
4:00 p.m. Eastern Time. If you do not give us all of the information we need,
we will contact you to get it before we make any allocation. If for some reason
we are unable to complete this process within 5 Business Days, we will either
send back your money or get your permission to keep it until we get all of the
necessary information. (See "Other Information -- Requests and Elections.")
If you make additional Purchase Payments, we will allocate them in the same way
as your first Purchase Payment unless you tell us otherwise. However, if you
make an additional Purchase Payment while a Dollar Cost Averaging (DCA) program
is in effect, we will not allocate the additional Purchase Payment to the DCA
program, unless you tell us to do so. Instead, unless you give us other
instructions, we will allocate the additional Purchase Payment directly to the
same destination Investment Portfolios you selected under the DCA program. (See
"Investment Options -- Dollar Cost Averaging Program.") You may change your
allocation instructions at any time by notifying us in writing, by calling us
or by Internet. You may not choose more than 40 Investment Portfolios
(including the Fixed Account) at the time you submit a subsequent Purchase
Payment. The Fixed Account is not available if you select the C Share Option.
If you wish to allocate the payment to more than 40 Investment Portfolios
(including the Fixed Account, if available), we must have your request to
allocate future Purchase Payments to more than 40 Investment Portfolios on
record before we can apply your subsequent Purchase Payment to your chosen
allocation. If there are Joint Owners, unless we are instructed to the
contrary, we will accept allocation instructions from either Joint Owner.
We reserve the right to make certain changes to the Investment Portfolios. (See
"Investment Options -- Substitution of Investment Options.")
FREE LOOK
If you change your mind about owning this contract, you can cancel it within 10
days after receiving it (or the period required in your state). We ask that you
submit your request to cancel in writing, signed by you, to our Annuity Service
Center. When you cancel the contract within this Free Look period, we will not
assess a withdrawal charge. Unless otherwise required by state law, you will
receive back whatever your contract is worth on the day we receive your
request. This may be more or less than your Purchase Payment depending upon the
performance of the Investment Portfolios (and, for the Standard Version, any
interest credited by the Fixed Account, if applicable) according to your
Purchase Payment allocation during the Free Look period. This means that you
bear the risk of any decline in the value of your contract due to Investment
Portfolio performance during the Free Look period. We do not refund any charges
or deductions assessed during the Free Look period. In certain states, we are
required to give you back your Purchase Payment if you decide to cancel your
contract during the Free Look period.
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ACCUMULATION UNITS
The portion of your Account Value allocated to the Separate Account will go up
or down depending upon the investment performance of the Investment
Portfolio(s) you choose. In order to keep track of this portion of your Account
Value, we use a unit of measure we call an Accumulation Unit. (An Accumulation
Unit works like a share of a mutual fund.) In addition to the investment
performance of the Investment Portfolio, the deduction of Separate Account
charges also affects an Investment Portfolio's Accumulation Unit value, as
explained below.
Every Business Day as of the close of the New York Stock Exchange (generally
4:00 p.m. Eastern Time), we determine the value of an Accumulation Unit for
each of the Investment Portfolios by multiplying the Accumulation Unit value
for the immediately preceding Business Day by a factor for the current Business
Day. The factor is determined by:
1) dividing the net asset value per share of the Investment Portfolio at the
end of the current Business Day, plus any dividend or capital gains per
share declared on behalf of the Investment Portfolio as of that day, by
the net asset value per share of the Investment Portfolio for the
previous Business Day, and
2) multiplying it by one minus the Separate Account product charges (including
any rider charge for the Return of Premium death benefit) for each day
since the last Business Day and any charges for taxes.
The value of an Accumulation Unit may go up or down from day to day.
When you make a Purchase Payment, we credit your contract with Accumulation
Units. The number of Accumulation Units credited is determined by dividing the
amount of the Purchase Payment allocated to an Investment Portfolio by the
value of the Accumulation Unit for that Investment Portfolio.
Purchase Payments and transfer requests are credited to a contract on the basis
of the Accumulation Unit value next determined after receipt of a Purchase
Payment or transfer request. Purchase Payments or transfer requests received
before the close of the New York Stock Exchange will be credited to your
------
contract that day, after the New York Stock Exchange closes. Purchase Payments
or transfer requests received after the close of the New York Stock Exchange,
-----
or on a day when the New York Stock Exchange is not open, will be treated as
received on the next day the New York Stock Exchange is open (the next Business
Day).
EXAMPLE:
On Monday we receive an additional Purchase Payment of $5,000 from you
before 4:00 p.m. Eastern Time. You have told us you want this to go to the
Brighthouse Asset Allocation 60 Portfolio. When the New York Stock Exchange
closes on that Monday, we determine that the value of an Accumulation Unit
for the Brighthouse Asset Allocation 60 Portfolio is $12.50. We then divide
$5,000 by $12.50 and credit your contract on Monday night with 400
Accumulation Units for the Brighthouse Asset Allocation 60 Portfolio.
ACCOUNT VALUE
Account Value is equal to the sum of your interests in the Investment
Portfolios and the Fixed Account. Your interest in each Investment Portfolio is
determined by multiplying the number of Accumulation Units for that portfolio
by the value of the Accumulation Unit.
REPLACEMENT OF CONTRACTS
EXCHANGE PROGRAMS. From time to time we may offer programs under which certain
fixed or variable annuity contracts previously issued by us or one of our
affiliates may be exchanged for the contracts offered by this prospectus.
Currently, with respect to exchanges from certain of our variable annuity
contracts to this contract, an existing contract is eligible for exchange if a
withdrawal from, or surrender of, the contract would not trigger a withdrawal
charge (certain restrictions may apply if the existing contract has living
benefits). The Account Value of a Standard Version of this contract
attributable to the exchanged assets will not be subject to any withdrawal
charge (there are no withdrawal charges for the C Share Option). Any additional
Purchase Payments contributed to the new contract will be subject to all fees
and charges, including the withdrawal charge described in this prospectus. You
should carefully consider whether an exchange is appropriate for you by
comparing the death benefits, living benefits, and other guarantees provided by
the contract you currently own to the benefits and guarantees that would be
provided by the new contract offered by this prospectus. Then, you should
compare the fees and charges (for example, the death benefit charges, the
living benefit charges, and the mortality and expense charge) of your current
contract to the fees and charges of the new contract, which may be higher than
your current contract. The programs we offer will be made available on
17
terms and conditions determined by us, and any such programs will comply with
applicable law. We believe the exchanges will be tax free for federal income
tax purposes; however, you should consult your tax adviser before making any
such exchange.
OTHER EXCHANGES. Generally you can exchange one variable annuity contract for
another in a tax-free exchange under Section 1035 of the Internal Revenue Code.
Before making an exchange, you should compare both annuities carefully. If you
exchange another annuity for the one described in this prospectus, unless the
exchange occurs under one of our exchange programs as described above, you
might have to pay a withdrawal charge on your old annuity, and there will be a
new withdrawal charge period for the Standard Version this contract (there is
no withdrawal charge period for the C Share Option). Other charges may be
higher (or lower) and the benefits may be different. Also, because we will not
issue the contract until we have received the initial premium from your
existing insurance company, the issuance of the contract may be delayed.
Generally, it is not advisable to purchase a contract as a replacement for an
existing variable annuity contract. Before you exchange another annuity for our
contract, ask your registered representative whether the exchange would be
advantageous, given the contract features, benefits and charges.
OWNING MULTIPLE CONTRACTS
You may be considering purchasing this contract when you already own a variable
annuity contract. You should carefully consider whether purchasing an
additional contract in this situation is appropriate for you by comparing the
features of the contract you currently own, including the death benefits,
living benefits, and other guarantees provided by the contract, to the features
of this contract. You should also compare the fees and charges of your current
contract to the fees and charges of this contract, which may be higher than
your current contract. You may also wish to discuss purchasing a contract in
these circumstances with your registered representative.
3. INVESTMENT OPTIONS
The contract offers 78 Investment Portfolios, which are listed below.
Additional Investment Portfolios may be available in the future.
YOU SHOULD READ THE PROSPECTUSES FOR THESE FUNDS CAREFULLY BEFORE INVESTING.
YOU CAN OBTAIN COPIES OF THE FUND PROSPECTUSES BY CALLING OR WRITING TO US AT:
BRIGHTHOUSE LIFE INSURANCE COMPANY , ANNUITY SERVICE CENTER, P.O. BOX 10366,
DES MOINES, IOWA 50306-0366, (800) 343-8496. YOU CAN ALSO OBTAIN INFORMATION
ABOUT THE FUNDS (INCLUDING A COPY OF THE STATEMENT OF ADDITIONAL INFORMATION)
BY ACCESSING THE SECURITIES AND EXCHANGE COMMISSION'S WEBSITE AT HTTP://
WWW.SEC.GOV. APPENDIX B CONTAINS A SUMMARY OF ADVISERS, SUBADVISERS, AND
INVESTMENT OBJECTIVES FOR EACH INVESTMENT PORTFOLIO.
The investment objectives and policies of certain of the Investment Portfolios
may be similar to the investment objectives and policies of other mutual funds
that certain of the Investment Portfolios' investment advisers manage. Although
the objectives and policies may be similar, the investment results of the
Investment Portfolios may be higher or lower than the results of such other
mutual funds. The investment advisers cannot guarantee, and make no
representation, that the investment results of similar funds will be comparable
even though the funds may have the same investment advisers.
Shares of the Investment Portfolios may be offered to insurance company
separate accounts of both variable annuity and variable life insurance
contracts and to qualified plans. Due to differences in tax treatment and other
considerations, the interests of various Owners participating in, and the
interests of qualified plans investing in the Investment Portfolios may
conflict. The Investment Portfolios will monitor events in order to identify
the existence of any material irreconcilable conflicts and determine what
action, if any, should be taken in response to any such conflict.
The Investment Portfolios listed below are managed in a way that is intended to
minimize volatility of returns (referred to as a "managed volatility
strategy"):
(a) AB Global Dynamic Allocation Portfolio
(b) Allianz Global Investors Dynamic Multi-Asset Plus Portfolio
(c) AQR Global Risk Balanced Portfolio
(d) BlackRock Global Tactical Strategies Portfolio
(e) Invesco Balanced-Risk Allocation Portfolio
(f) JPMorgan Global Active Allocation Portfolio
(g) MetLife Balanced Plus Portfolio
(h) MetLife Multi-Index Targeted Risk Portfolio
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(i) PanAgora Global Diversified Risk Portfolio
(j) Pyramis(R) Managed Risk Portfolio
(k) Schroders Global Multi-Asset Portfolio
Stock prices fluctuate, sometimes rapidly and dramatically, due to factors
affecting individual companies, particular industries or sectors or general
market conditions. Bond prices may fluctuate because they move in the opposite
direction of interest rates. Foreign investing carries additional risks such as
currency and market volatility. A managed volatility strategy is designed to
reduce volatility of returns to the above Investment Portfolios from investing
in stocks and bonds. This strategy seeks to reduce such volatility by
"smoothing" returns, which may result in an Investment Portfolio outperforming
the general securities market during periods of flat or negative market
performance, and underperforming the general securities market during periods
of positive market performance. This means that in periods of high market
volatility, this managed volatility strategy could limit your participation in
market gains; this may conflict with your investment objectives by limiting
your ability to maximize potential growth of your Account Value and, in turn,
the value of any guaranteed benefit that is tied to investment performance.
Other Investment Options may offer the potential for higher returns.
If you elect certain optional riders, you will be subject to investment
allocation restrictions that include these Investment Portfolios. This is
intended in part to reduce the risk of investment losses that could require us
to use our own assets to make payments in connection with the guarantees under
those riders. You pay an additional fee for a guaranteed benefit which, in
part, pays for protecting the rider benefit base from investment losses. Since
the rider benefit base does not decrease as a result of investment losses, a
managed volatility strategy might not provide meaningful additional benefit to
you. Please see the Investment Portfolio prospectuses for more information in
general, as well as more information about the managed volatility strategy.
CERTAIN PAYMENTS WE RECEIVE WITH REGARD TO THE INVESTMENT PORTFOLIOS. An
investment adviser (other than our affiliate Brighthouse Investment Advisers,
LLC) or subadviser of an Investment Portfolio, or its affiliates, may make
payments to us and/or certain of our affiliates. Prior to March 6, 2017,
Brighthouse Investment Advisers, LLC was known as MetLife Advisers, LLC. These
payments may be used for a variety of purposes, including payment of expenses
for certain administrative, marketing, and support services with respect to the
contracts and, in our role as an intermediary, with respect to the Investment
Portfolios. We and our affiliates may profit from these payments. These
payments may be derived, in whole or in part, from the advisory fee deducted
from Investment Portfolio assets. Contract Owners, through their indirect
investment in the Investment Portfolios, bear the costs of these advisory fees
(see the prospectuses for the Investment Portfolios for more information). The
amount of the payments we receive is based on a percentage of assets of the
Investment Portfolios attributable to the contracts and certain other variable
insurance products that we and our affiliates issue. These percentages differ
and some advisers or subadvisers (or their affiliates) may pay us more than
others. These percentages currently range up to 0.50%.
Additionally, an investment adviser (other than our affiliate Brighthouse
Investment Advisers, LLC) or subadviser of an Investment Portfolio or its
affiliates may provide us with wholesaling services that assist in the
distribution of the contracts and may pay us and/or certain of our affiliates
amounts to participate in sales meetings. These amounts may be significant and
may provide the adviser or subadviser (or its affiliate) with increased access
to persons involved in the distribution of the contracts.
We and/or certain of our affiliated insurance companies have joint ownership
interests in our affiliated investment adviser, Brighthouse Investment
Advisers, LLC, which is formed as a "limited liability company." Our ownership
interests in Brighthouse Investment Advisers, LLC entitle us to profit
distributions if the adviser makes a profit with respect to the advisory fees
it receives from the Investment Portfolios. We will benefit accordingly from
assets allocated to the Investment Portfolios to the extent they result in
profits to the adviser. (See "Fee Tables and Examples -- Investment Portfolio
Fees and Expenses" for information on the management fees paid by the
Investment Portfolios and the Statements of Additional Information for the
Investment Portfolios for information on the management fees paid by the
adviser to the subadvisers.)
Certain Investment Portfolios have adopted a Distribution Plan under Rule 12b-1
of the Investment Company Act of 1940. (See "Fee Tables and
Examples -- Investment Portfolio Fees and Expenses" for the amounts of the 12b-1
fees.) An Investment Portfolio's 12b-1 Plan, if any, is described in more
detail in the Investment Portfolio's prospectus. Any payments we receive
pursuant to those
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12b-1 Plans are paid to us or our distributor. (See "Other
Information -- Distributor" for more information.) Payments under an Investment
Portfolio's 12b-1 Plan decrease the Investment Portfolio's investment return.
We select the Investment Portfolios offered through this contract based on a
number of criteria, including asset class coverage, the strength of the
adviser's or subadviser's reputation and tenure, brand recognition,
performance, and the capability and qualification of each investment firm.
Another factor we consider during the selection process is whether the
Investment Portfolio's adviser or subadviser is one of our affiliates or
whether the Investment Portfolio, its adviser, its subadviser(s), or an
affiliate will make payments to us or our affiliates. In this regard, the
profit distributions we receive from our affiliated investment adviser are a
component of the total revenue that we consider in configuring the features and
investment choices available in the variable insurance products that we and our
affiliated insurance companies issue. Since we and our affiliated insurance
companies may benefit more from the allocation of assets to portfolios advised
by our affiliates than to those that are not, we may be more inclined to offer
portfolios advised by our affiliates in the variable insurance products we
issue. We review the Investment Portfolios periodically and may remove an
Investment Portfolio or limit its availability to new Purchase Payments and/or
transfers of Account Value if we determine that the Investment Portfolio no
longer meets one or more of the selection criteria, and/or if the Investment
Portfolio has not attracted significant allocations from contract Owners. In
some cases, we have included Investment Portfolios based on recommendations
made by selling firms. These selling firms may receive payments from the
Investment Portfolios they recommend and may benefit accordingly from the
allocation of Account Value to such Investment Portfolios.
WE DO NOT PROVIDE ANY INVESTMENT ADVICE AND DO NOT RECOMMEND OR ENDORSE ANY
PARTICULAR INVESTMENT PORTFOLIO. YOU BEAR THE RISK OF ANY DECLINE IN THE
ACCOUNT VALUE OF YOUR CONTRACT RESULTING FROM THE PERFORMANCE OF THE INVESTMENT
PORTFOLIOS YOU HAVE CHOSEN.
AMERICAN FUNDS INSURANCE SERIES(R) (CLASS 4)
American Funds Insurance Series(R) is a mutual fund with multiple portfolios.
Capital Research and Management Company is the investment adviser to each
portfolio. The following portfolio is available under the contract:
American Funds Global Small Capitalization Fund
BLACKROCK VARIABLE SERIES FUNDS, INC. (CLASS III)
BlackRock Variable Series Funds, Inc. is a mutual fund with multiple
portfolios. BlackRock Advisors, LLC. is the manager of the portfolios. The
following portfolio is available under the contract:
BlackRock Global Allocation V.I. Fund
BRIGHTHOUSE FUNDS TRUST I
Brighthouse Funds Trust I is a mutual fund with multiple portfolios.
Brighthouse Investment Advisers, LLC (Brighthouse Investment Advisers) is the
investment manager of Brighthouse Funds Trust I. Brighthouse Investment
Advisers has engaged subadvisers to provide investment advice for the
individual Investment Portfolios. (See Appendix B for the names of the
subadvisers.) The following portfolios are available under the contract:
AB Global Dynamic Allocation Portfolio (Class B)
Allianz Global Investors Dynamic Multi-Asset Plus Portfolio (Class B)
American Funds(R) Balanced Allocation Portfolio (Class C)
American Funds(R) Growth Allocation Portfolio (Class C)
American Funds(R) Growth Portfolio (Class C)
American Funds(R) Moderate Allocation Portfolio (Class C)
AQR Global Risk Balanced Portfolio (Class B)
BlackRock Global Tactical Strategies Portfolio (Class B)
BlackRock High Yield Portfolio (Class B)
Brighthouse Asset Allocation 100 Portfolio (Class B) (formerly MetLife
Asset Allocation 100 Portfolio)
Brighthouse Balanced Plus Portfolio (Class B) (formerly MetLife Balanced
Plus Portfolio)
Brighthouse Small Cap Value Portfolio (Class B) (formerly MetLife Small
Cap Value Portfolio)
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class B) (formerly
Met/Aberdeen Emerging Markets Equity Portfolio)
Brighthouse/Artisan International Portfolio (Class B) (formerly
Met/Artisan International Portfolio)
Brighthouse/Eaton Vance Floating Rate Portfolio (Class B) (formerly
Met/Eaton Vance Floating Rate Portfolio)
Brighthouse/Franklin Low Duration Total Return Portfolio (Class B)
(formerly Met/Franklin Low Duration Total Return Portfolio)
Brighthouse/Templeton International Bond Portfolio (Class B) (formerly
Met/Templeton International Bond Portfolio)
20
Brighthouse/Wellington Large Cap Research Portfolio (Class B) (formerly
Met/Wellington Large Cap Research Portfolio)
Clarion Global Real Estate Portfolio (Class B)
ClearBridge Aggressive Growth Portfolio (Class B)
Goldman Sachs Mid Cap Value Portfolio (Class B)
Harris Oakmark International Portfolio (Class B)
Invesco Balanced-Risk Allocation Portfolio (Class B)
Invesco Comstock Portfolio (Class B)
Invesco Mid Cap Value Portfolio (Class B)
Invesco Small Cap Growth Portfolio (Class B)
JPMorgan Core Bond Portfolio (Class B)
JPMorgan Global Active Allocation Portfolio (Class B)
JPMorgan Small Cap Value Portfolio (Class B)
Loomis Sayles Global Markets Portfolio (Class B)
MetLife Multi-Index Targeted Risk Portfolio (Class B)
MFS(R) Research International Portfolio (Class B)
Morgan Stanley Mid Cap Growth Portfolio (Class B)
Oppenheimer Global Equity Portfolio (Class B)
PanAgora Global Diversified Risk Portfolio (Class B)
PIMCO Inflation Protected Bond Portfolio (Class B)
PIMCO Total Return Portfolio (Class B)
Pyramis(R) Government Income Portfolio (Class B)
Pyramis(R) Managed Risk Portfolio (Class B)
Schroders Global Multi-Asset Portfolio (Class B)
SSGA Growth and Income ETF Portfolio (Class B)
SSGA Growth ETF Portfolio (Class B)
T. Rowe Price Large Cap Value Portfolio (Class B)
TCW Core Fixed Income Portfolio (Class B)
BRIGHTHOUSE FUNDS TRUST II
Brighthouse Funds Trust II is a mutual fund with multiple portfolios.
Brighthouse Investment Advisers is the investment adviser to the portfolios.
Brighthouse Investment Advisers has engaged subadvisers to provide investment
advice for the individual Investment Portfolios. (See Appendix B for the names
of the subadvisers.) The following portfolios are available under the contract:
Baillie Gifford International Stock Portfolio (Class B)
BlackRock Bond Income Portfolio (Class B)
BlackRock Capital Appreciation Portfolio (Class B)
BlackRock Large Cap Value Portfolio (Class B)
BlackRock Ultra-Short Term Bond Portfolio (Class B)
Brighthouse Asset Allocation 20 Portfolio (Class B) (formerly MetLife
Asset Allocation 20 Portfolio)
Brighthouse Asset Allocation 40 Portfolio (Class B) (formerly MetLife
Asset Allocation 40 Portfolio)
Brighthouse Asset Allocation 60 Portfolio (Class B) (formerly MetLife
Asset Allocation 60 Portfolio)
Brighthouse Asset Allocation 80 Portfolio (Class B) (formerly MetLife
Asset Allocation 80 Portfolio)
Brighthouse/Dimensional International Small Company Portfolio (Class B)
(formerly Met/Dimensional International Small Company Portfolio)
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class B)
(formerly Met/Wellington Core Equity Opportunities Portfolio)
Jennison Growth Portfolio (Class B)
Loomis Sayles Small Cap Core Portfolio (Class B)
MetLife Aggregate Bond Index Portfolio (Class G) (formerly Barclays
Aggregate Bond Index Portfolio)
MetLife Mid Cap Stock Index Portfolio (Class G)
MetLife MSCI EAFE(R) Index Portfolio (Class G) (formerly MSCI EAFE(R)
Index Portfolio)
MetLife Russell 2000(R) Index Portfolio (Class G) (formerly Russell
2000(R) Index Portfolio)
MetLife Stock Index Portfolio (Class G)
MFS(R) Value Portfolio (Class B)
Neuberger Berman Genesis Portfolio (Class B)
T. Rowe Price Large Cap Growth Portfolio (Class B)
T. Rowe Price Small Cap Growth Portfolio (Class G)
VanEck Global Natural Resources Portfolio (Class B) (formerly Van Eck
Global Natural Resources Portfolio)
Western Asset Management Strategic Bond Opportunities Portfolio (Class B)
Western Asset Management U.S. Government Portfolio (Class B)
IVY VARIABLE INSURANCE PORTFOLIOS
Ivy Variable Insurance Portfolios is a mutual fund with multiple portfolios.
Waddell & Reed Investment Management Company is the investment manager for each
portfolio. The following portfolio is available under the contract:
Ivy VIP Asset Strategy
MORGAN STANLEY VARIABLE INSURANCE FUND, INC. (CLASS II)
Morgan Stanley Variable Insurance Fund, Inc. is a mutual fund with multiple
portfolios. Morgan Stanley Investment Management Inc. is the investment adviser
to each portfolio. The following portfolio is available under the contract:
Global Infrastructure Portfolio
OPPENHEIMER VARIABLE ACCOUNT FUNDS (SERVICE SHARES)
Oppenheimer Variable Account Funds is a mutual fund with multiple portfolios.
OppenheimerFunds, Inc. is the investment adviser to each portfolio. The
following portfolio is available under the contract:
Oppenheimer Global Multi-Alternatives Fund/VA
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PIMCO VARIABLE INSURANCE TRUST (CLASS M)
PIMCO Variable Insurance Trust is a mutual fund with multiple portfolios.
Pacific Investment Management Company LLC is the investment adviser to each
portfolio. The following portfolios are available under the contract:
PIMCO CommodityRealReturn(R) Strategy Portfolio
PIMCO Emerging Markets Bond Portfolio
PIMCO Unconstrained Bond Portfolio
VANECK VIP TRUST (CLASS S)
Van Eck VIP Trust is a mutual fund with multiple portfolios. Van Eck Associates
Corporation serves as investment adviser to the portfolios. The following
portfolio is available under the contract:
VanEck VIP Long/Short Equity Index Fund
INVESTMENT PORTFOLIOS THAT ARE FUNDS-OF-FUNDS
The following Investment Portfolios available within Met Investors Series Trust
and Metropolitan Series Fund are "funds of funds":
American Funds(R) Balanced Allocation Portfolio
American Funds(R) Growth Allocation Portfolio
American Funds(R) Moderate Allocation Portfolio
BlackRock Global Tactical Strategies Portfolio
MetLife Asset Allocation 20 Portfolio
MetLife Asset Allocation 40 Portfolio
MetLife Asset Allocation 60 Portfolio
MetLife Asset Allocation 80 Portfolio
MetLife Asset Allocation 100 Portfolio
MetLife Balanced Plus Portfolio
MetLife Multi-Index Targeted Risk Portfolio
Pyramis(R) Managed Risk Portfolio
SSGA Growth and Income ETF Portfolio
SSGA Growth ETF Portfolio
"Fund of funds" Investment Portfolios invest substantially all of their assets
in other portfolios or, with respect to the SSGA Growth and Income ETF
Portfolio and the SSGA Growth ETF Portfolio, other exchange-traded funds
("Underlying ETFs"). Therefore, each of these Investment Portfolios will bear
its pro rata share of the fees and expenses incurred by the underlying
portfolios or Underlying ETFs in which it invests in addition to its own
management fees and expenses. This will reduce the investment return of each of
the fund of funds Investment Portfolios. The expense levels will vary over
time, depending on the mix of underlying portfolios or Underlying ETFs in which
the fund of funds Investment Portfolio invests. Contract Owners may be able to
realize lower aggregate expenses by investing directly in the underlying
portfolios and Underlying ETFs instead of investing in the fund of funds
Investment Portfolios, if such underlying portfolios or Underlying ETFs are
available under the contract. However, no Underlying ETFs and only some of the
underlying portfolios are available under the contract.
TRANSFERS
GENERAL. You can transfer a portion of your Account Value among the Fixed
Account (not available if you selected the C Share Option) and the Investment
Portfolios. The contract provides that you can make a maximum of 12 transfers
every year and that each transfer is made without charge. We measure a year
from the anniversary of the day we issued your contract. We currently allow
unlimited transfers but reserve the right to limit this in the future. We may
also limit transfers in circumstances of frequent or large transfers, or other
transfers we determine are or would be to the disadvantage of other contract
Owners. (See "Restrictions on Frequent Transfers" and "Restrictions on Large
Transfers" below.) We also may be required to suspend the right to transfers in
certain circumstances (see "Access to Your Money - Suspension of Payments or
Transfers"). We are not currently charging a transfer fee, but we reserve the
right to charge such a fee in the future. If such a charge were to be imposed,
it would be $25 for each transfer over 12 in a year. The transfer fee will be
deducted from the Investment Portfolio or Fixed Account from which the transfer
is made. However, if the entire interest in an account is being transferred,
the transfer fee will be deducted from the amount which is transferred.
You can make a transfer to or from any Investment Portfolio or the Fixed
Account (not available if you selected the C Share Option), subject to the
limitations below. All transfers made on the same Business Day will be treated
as one transfer. Transfers received before the close of trading on the New York
Stock Exchange will take effect as of the end of the Business Day. The
following apply to any transfer:
o Your request for transfer must clearly state which Investment Portfolio(s)
or the Fixed Account (not available if you selected the C Share Option)
are involved in the transfer.
o Your request for transfer must clearly state how much the transfer is for.
o The minimum amount you can transfer is $500 from an Investment Portfolio, or
your entire interest in the
22
Investment Portfolio, if less (this does not apply to pre-scheduled
transfer programs).
o The minimum amount that may be transferred from the Fixed Account is $500,
or your entire interest in the Fixed Account. Transfers out of the Fixed
Account during the Accumulation Phase are limited to the greater of: (a)
25% of the Fixed Account value at the beginning of the Contract Year, or
(b) the amount transferred out of the Fixed Account in the prior Contract
Year. Currently we are not imposing these restrictions on transfers out of
the Fixed Account, but we have the right to reimpose them at any time. You
should be aware that, if transfer restrictions are imposed, it may take a
while (even if you make no additional Purchase Payments or transfers into
the Fixed Account) to make a complete transfer of your Account Value from
the Fixed Account. When deciding whether to invest in the Fixed Account
(not available if you select the C Share Option) it is important to
consider whether the transfer restrictions fit your risk tolerance and
time horizon.
o You may not make a transfer to more than 40 investment portfolios (including
the Fixed Account-not available if you selected the C Share Option) at any
time if the request is made by telephone to our voice response system or
by Internet. A request to transfer to more than 40 investment portfolios
(including the Fixed Account, if available) may be made by calling or
writing our Annuity Service Center.
During the Accumulation Phase, to the extent permitted by applicable law,
during times of drastic economic or market conditions, we may suspend the
transfer privilege temporarily without notice and treat transfer requests based
on their separate components (a redemption order with simultaneous request for
purchase of another Investment Portfolio). In such a case, the redemption order
would be processed at the source Investment Portfolio's next determined
Accumulation Unit value. However, the purchase of the new Investment Portfolio
would be effective at the next determined Accumulation Unit value for the new
Investment Portfolio only after we receive the proceeds from the source
Investment Portfolio, or we otherwise receive cash on behalf of the source
Investment Portfolio.
For transfers during the Accumulation Phase, we have reserved the right to
restrict transfers to the Fixed Account if any one of the following conditions
exist:
o the credited interest rate on the Fixed Account is equal to the guaranteed
minimum rate indicated in your contract; or
o your Account Value in the Fixed Account equals or exceeds our published
maximum for Fixed Account allocation (currently, there is no limit; we
will notify you of any such maximum allocation limit); or
o a transfer was made out of the Fixed Account within the previous 180 days.
During the Income Phase, you cannot make transfers from a fixed Annuity Payment
option to the Investment Portfolios. You can, however, make transfers during
the Income Phase from the Investment Portfolios to a fixed Annuity Payment
option and among the Investment Portfolios.
TRANSFERS BY TELEPHONE OR OTHER MEANS. You may elect to make transfers by
telephone, Internet or other means acceptable to us. To elect this option, you
must first provide us with a notice or agreement in Good Order. If you own the
contract with a Joint Owner, unless we are instructed otherwise, we will accept
instructions from either you or the other Owner. (See "Other
Information -- Requests and Elections.")
All transfers made on the same day will be treated as one transfer. A transfer
will be made as of the end of the Business Day when we receive a notice
containing all the required information necessary to process the request. We
will consider telephone and Internet requests received after the close of the
New York Stock Exchange (generally 4:00 p.m. Eastern Time), or on a day when
the New York Stock Exchange is not open, to be received on the next day the New
York Stock Exchange is open (the next Business Day).
PRE-SCHEDULED TRANSFER PROGRAM. There are certain programs that involve
transfers that are pre-scheduled. When a transfer is made as a result of such a
program, we do not count the transfer in determining the applicability of any
transfer fee and certain minimums do not apply. The current pre-scheduled
transfers are made in conjunction with the following: Dollar Cost Averaging and
Automatic Rebalancing Programs.
RESTRICTIONS ON FREQUENT TRANSFERS. Frequent requests from contract Owners to
transfer Account Value may dilute the value of an Investment Portfolio's shares
if the frequent trading involves an attempt to take advantage of pricing
inefficiencies created by a lag between a change
23
in the value of the securities held by the portfolio and the reflection of that
change in the portfolio's share price ("arbitrage trading"). Frequent transfers
involving arbitrage trading may adversely affect the long-term performance of
the Investment Portfolios, which may in turn adversely affect contract Owners
and other persons who may have an interest in the contracts (e.g., Annuitants
and Beneficiaries).
We have policies and procedures that attempt to detect and deter frequent
transfers in situations where we determine there is a potential for arbitrage
trading. Currently, we believe that such situations may be presented in the
international, small-cap, and high-yield Investment Portfolios. In addition, as
described below, we monitor transfer activity in all American Funds Insurance
Series(R) portfolios. We monitor transfer activity in the following portfolios
(the "Monitored Portfolios"):
American Funds Global Small Capitalization Fund
Baillie Gifford International Stock Portfolio
BlackRock Global Allocation V.I. Fund
BlackRock High Yield Portfolio
Brighthouse Small Cap Value Portfolio
Brighthouse/Aberdeen Emerging Markets Equity Portfolio
Brighthouse/Artisan International Portfolio
Brighthouse/Dimensional International Small Company Portfolio
Brighthouse/Eaton Vance Floating Rate Portfolio
Brighthouse/Templeton International Bond Portfolio
Clarion Global Real Estate Portfolio
Global Infrastructure Portfolio
Harris Oakmark International Portfolio
Invesco Small Cap Growth Portfolio
Ivy VIP Asset Strategy
JPMorgan Small Cap Value Portfolio
Loomis Sayles Global Markets Portfolio
Loomis Sayles Small Cap Core Portfolio
MetLife MSCI EAFE(R) Index Portfolio
MetLife Russell 2000(R) Index Portfolio
MFS(R) Research International Portfolio
Neuberger Berman Genesis Portfolio
Oppenheimer Global Equity Portfolio
PIMCO Emerging Markets Bond Portfolio
T. Rowe Price Small Cap Growth Portfolio
VanEck Global Natural Resources Portfolio
Western Asset Management Strategic Bond Opportunities Portfolio
We employ various means to monitor transfer activity, such as examining the
frequency and size of transfers into and out of the Monitored Portfolios within
given periods of time. For example, we currently monitor transfer activity to
determine if, for each category of international, small-cap, and high-yield
portfolios, in a 12-month period there were: (1) six or more transfers
involving the given category; (2) cumulative gross transfers involving the
given category that exceed the current Account Value; and (3) two or more
"round-trips" involving the given category. A round-trip generally is defined
as a transfer in followed by a transfer out within the next seven calendar days
or a transfer out followed by a transfer in within the next seven calendar
days, in either case subject to certain other criteria. WE DO NOT BELIEVE THAT
OTHER INVESTMENT PORTFOLIOS PRESENT A SIGNIFICANT OPPORTUNITY TO ENGAGE IN
ARBITRAGE TRADING AND THEREFORE DO NOT MONITOR TRANSFER ACTIVITY IN THOSE
PORTFOLIOS. We may change the Monitored Portfolios at any time without notice
in our sole discretion.
As a condition to making their portfolios available in our products, American
Funds requires us to treat all American Funds portfolios as Monitored
Portfolios under our current frequent transfer policies and procedures.
Further, American Funds requires us to impose additional specified monitoring
criteria for all American Funds portfolios available under the contract,
regardless of the potential for arbitrage trading. We are required to monitor
transfer activity in American Funds portfolios to determine if there were two
or more transfers in followed by transfers out, in each case of a certain
dollar amount or greater, in any 30-day period. A first violation of the
American Funds monitoring policy will result in a written notice of violation;
each additional violation will result in the imposition of a six-month
restriction, during which period we will require all transfer requests to or
from an American Funds portfolio to be submitted with an original signature.
Further, as Monitored Portfolios, all American Funds portfolios also will be
subject to our current frequent transfer policies, procedures and restrictions
(described below), and transfer restrictions may be imposed upon a violation of
either monitoring policy.
Our policies and procedures may result in transfer restrictions being applied
to deter frequent transfers. Currently, when we detect transfer activity in the
Monitored Portfolios that exceeds our current transfer limits, we require
future transfer requests to or from any Monitored Portfolios under that
contract to be submitted
24
with an original signature. A first occurrence will result in a warning letter;
a second occurrence will result in the imposition of this restriction for a
six-month period; a third occurrence will result in the permanent imposition of
the restriction. Transfers made under a Dollar Cost Averaging Program, a
rebalancing program or, if applicable, any asset allocation program described
in this prospectus are not treated as transfers when we monitor the frequency
of transfers.
The detection and deterrence of harmful transfer activity involves judgments
that are inherently subjective, such as the decision to monitor only those
Investment Portfolios that we believe are susceptible to arbitrage trading or
the determination of the transfer limits. Our ability to detect and/or restrict
such transfer activity may be limited by operational and technological systems,
as well as our ability to predict strategies employed by Owners to avoid such
detection. Our ability to restrict such transfer activity also may be limited
by provisions of the contract. Accordingly, there is no assurance that we will
prevent all transfer activity that may adversely affect Owners and other
persons with interests in the contracts. We do not accommodate frequent
transfers in any Investment Portfolio and there are no arrangements in place to
permit any contract Owner to engage in frequent transfers; we apply our
policies and procedures without exception, waiver, or special arrangement.
The Investment Portfolios may have adopted their own policies and procedures
with respect to frequent transfers in their respective shares, and we reserve
the right to enforce these policies and procedures. For example, Investment
Portfolios may assess a redemption fee (which we reserve the right to collect)
on shares held for a relatively short period. The prospectuses for the
Investment Portfolios describe any such policies and procedures, which may be
more or less restrictive than the policies and procedures we have adopted.
Although we may not have the contractual authority or the operational capacity
to apply the frequent transfer policies and procedures of the Investment
Portfolios, we have entered into a written agreement, as required by SEC
regulation, with each Investment Portfolio or its principal underwriter that
obligates us to provide to the Investment Portfolio promptly upon request
certain information about the trading activity of individual contract Owners,
and to execute instructions from the Investment Portfolio to restrict or
prohibit further purchases or transfers by specific contract Owners who violate
the frequent transfer policies established by the Investment Portfolio.
In addition, contract Owners and other persons with interests in the contracts
should be aware that the purchase and redemption orders received by the
Investment Portfolios generally are "omnibus" orders from intermediaries, such
as retirement plans or separate accounts funding variable insurance contracts.
The omnibus orders reflect the aggregation and netting of multiple orders from
individual Owners of variable insurance contracts and/or individual retirement
plan participants. The omnibus nature of these orders may limit the Investment
Portfolios in their ability to apply their frequent transfer policies and
procedures. In addition, the other insurance companies and/or retirement plans
may have different policies and procedures or may not have any such policies
and procedures because of contractual limitations. For these reasons, we cannot
guarantee that the Investment Portfolios (and thus contract Owners) will not be
harmed by transfer activity relating to other insurance companies and/or
retirement plans that may invest in the Investment Portfolios. If an Investment
Portfolio believes that an omnibus order reflects one or more transfer requests
from contract Owners engaged in frequent trading, the Investment Portfolio may
reject the entire omnibus order.
In accordance with applicable law, we reserve the right to modify or terminate
the transfer privilege at any time. We also reserve the right to defer or
restrict the transfer privilege at any time that we are unable to purchase or
redeem shares of any of the Investment Portfolios, including any refusal or
restriction on purchases or redemptions of their shares as a result of their
own policies and procedures on frequent transfers (even if an entire omnibus
order is rejected due to the frequent transfers of a single contract Owner).
You should read the Investment Portfolio prospectuses for more details.
RESTRICTIONS ON LARGE TRANSFERS. Large transfers may increase brokerage and
administrative costs of the Investment Portfolios and may disrupt portfolio
management strategy, requiring an Investment Portfolio to maintain a high cash
position and possibly resulting in lost investment opportunities and forced
liquidations. We do not monitor for large transfers to or from Investment
Portfolios except where the portfolio manager of a particular Investment
Portfolio has brought large transfer activity to our attention for
investigation on a case-by-case basis. For example, some portfolio managers
have asked us
25
to monitor for "block transfers" where transfer requests have been submitted on
behalf of multiple contract Owners by a third party such as an investment
adviser. When we detect such large trades, we may impose restrictions similar
to those described above where future transfer requests from that third party
must be submitted in writing with an original signature. A first occurrence
will result in a warning letter; a second occurrence will result in the
imposition of this restriction for a six-month period; a third occurrence will
result in the permanent imposition of the restriction.
ASSET ALLOCATION PROGRAM -- BLUEPRINT MODELS
This program is no longer available. The Blueprint Models were separate asset
allocation guidance made available in connection with the contract, at no
additional charge to you, to help you allocate your Purchase Payments and
Account Value among the available Investment Options. The Blueprint Models were
not offered by this prospectus and are not a part of your contract.
Brighthouse Investment Advisers, LLC (Brighthouse Advisers), an investment
adviser registered under the Investment Advisers Act of 1940, served as the
investment adviser to the asset allocation program, but solely for the purpose
of developing and updating the Blueprint Models. MetLife Advisers followed the
recommendations of an independent third-party consultant in providing this
service.
As of April 30, 2017, Brighthouse Advisers no longer updates the Blueprint
Models and is no longer investment adviser to the asset allocation program. You
do not have to take any action, and the termination of the asset allocation
program will not affect Account Value.
Your Account Value and any subsequent Purchase Payments will continue to be
allocated in accordance with the Investment Option allocation instructions you
last provided until you revise them. Your registered representative can help
you determine if your current Investment Option allocation continues to meet
your needs and can provide you with information that may assist you in
selecting and allocating among the Investment Options.
DOLLAR COST AVERAGING PROGRAM (DCA)
We offer a dollar cost averaging (DCA) program which is described below. By
allocating amounts on a regular schedule as opposed to allocating the total
amount at one particular time, you may be less susceptible to the impact of
market fluctuations. The dollar cost averaging program is available only during
the Accumulation Phase.
We reserve the right to modify, terminate or suspend the dollar cost averaging
program. There is no additional charge for participating in the dollar cost
averaging program. If you participate in the dollar cost averaging program, the
transfers made under the program are not taken into account in determining any
transfer fee. We may, from time to time, offer other dollar cost averaging
programs which have terms different from those described in this prospectus. We
will terminate your participation in a dollar cost averaging program when we
receive notification of your death.
This program allows you to systematically transfer a set amount each month from
the Fixed Account (not available if you selected the C Share Option) or the
BlackRock Ultra-Short Term Bond Portfolio to any of the other available
Investment Portfolio(s) you select. We provide certain exceptions from our
normal Fixed Account restrictions to accommodate the dollar cost averaging
program. These transfers are made on a date you select or, if you do not select
a date, on the date that a Purchase Payment or Account Value is allocated to
the dollar cost averaging program. However, transfers will be made on the 1st
day of the following month for Purchase Payments or Account Value allocated to
the dollar cost averaging program on the 29th, 30th, or 31st day of a month.
If you make an additional Purchase Payment while a Dollar Cost Averaging (DCA)
program is in effect, we will not allocate the additional payment to the DCA
program unless you tell us to do so. Instead, unless you previously provided
different allocation instructions for future Purchase Payments or provide new
allocation instructions with the payment, we will allocate the additional
Purchase Payment directly to the same destination Investment Portfolios you
selected under the DCA program. Any Purchase Payments received after the DCA
program has ended will be allocated as described in "Purchase -- Allocation of
Purchase Payments." If you make such an addition to your existing DCA program,
the DCA transfer amount will not be increased; however, the number of months
over which transfers are made is increased, unless otherwise elected in
writing. You can terminate the program at any time, at which point transfers
under the program will stop.
AUTOMATIC REBALANCING PROGRAM
Once your money has been allocated to the Investment Portfolios, the
performance of each portfolio may cause
26
your allocation to shift. You can direct us to automatically rebalance your
contract to return to your original percentage allocations by selecting our
Automatic Rebalancing Program. You can tell us whether to rebalance monthly,
quarterly, semi-annually or annually.
An automatic rebalancing program is intended to transfer Account Value from
those portfolios that have increased in value to those that have declined or
not increased as much in value. Over time, this method of investing may help
you "buy low and sell high," although there can be no assurance that this
objective will be achieved. Automatic rebalancing does not guarantee profits,
nor does it assure that you will not have losses.
We will measure the rebalancing periods from the anniversary of the date we
issued your contract. If the dollar cost averaging program is in effect,
rebalancing allocations will be based on your current DCA allocations. If you
are not participating in the dollar cost averaging program, we will make
allocations based upon your current Purchase Payment allocations, unless you
tell us otherwise.
The Automatic Rebalancing Program is available only during the Accumulation
Phase. There is no additional charge for participating in the Automatic
Rebalancing Program. If you participate in the Automatic Rebalancing Program,
the transfers made under the program are not taken into account in determining
any transfer fee. We will terminate your participation in the Automatic
Rebalancing Program when we receive notification of your death.
EXAMPLE:
Assume that you want your initial Purchase Payment split between 2
Investment Portfolios. You want 50% to be in the American Funds(R) Moderate
Allocation Portfolio and 50% to be in the American Funds(R) Balanced
Allocation Portfolio. Over the next 2 1/2 months the American Funds(R)
Balanced Allocation Portfolio outperforms the American Funds(R) Moderate
Allocation Portfolio. At the end of the first quarter, the American
Funds(R) Balanced Allocation Portfolio now represents 60% of your holdings
because of its increase in value. If you have chosen to have your holdings
rebalanced quarterly, on the first day of the next quarter, we will sell
some of your units in the American Funds(R) Balanced Allocation Portfolio
to bring its value back to 50% and use the money to buy more units in the
American Funds(R) Moderate Allocation Portfolio to increase those holdings
to 50%.
VOTING RIGHTS
We are the legal owner of the Investment Portfolio shares. However, we believe
that when an Investment Portfolio solicits proxies in conjunction with a vote
of shareholders, we are required to obtain from you and other affected Owners
instructions as to how to vote those shares. When we receive those
instructions, we will vote all of the shares we own in proportion to those
instructions. This will also include any shares that we own on our own behalf.
The effect of this proportional voting is that a small number of contract
Owners may control the outcome of a vote. Should we determine that we are no
longer required to comply with the above, we will vote the shares in our own
right.
SUBSTITUTION OF INVESTMENT OPTIONS
If investment in the Investment Portfolios or a particular Investment Portfolio
is no longer possible, in our judgment becomes inappropriate for purposes of
the contract, or for any other reason in our sole discretion, we may substitute
another Investment Portfolio or Investment Portfolios without your consent. The
substituted Investment Portfolio may have different fees and expenses.
Substitution may be made with respect to existing investments or the investment
of future Purchase Payments, or both. However, we will not make such
substitution without any necessary approval of the Securities and Exchange
Commission and applicable state insurance departments. Furthermore, we may
close Investment Portfolios to allocation of Purchase Payments or Account
Value, or both, at any time in our sole discretion.
4. EXPENSES
There are charges and other expenses associated with the contract that reduce
the return on your investment in the contract.These charges and expenses are:
PRODUCT CHARGES
SEPARATE ACCOUNT PRODUCT CHARGES. Each day, we make a deduction for our
Separate Account product charges (which consist of the mortality and expense
charge, the administration charge and the charges related to the optional
Return of Premium death benefit rider). We do this as part of our calculation
of the value of the Accumulation Units and the Annuity Units (i.e., during the
Accumulation Phase and the Income Phase -- although death benefit charges no
longer continue in the Income Phase).
27
MORTALITY AND EXPENSE CHARGE. For the Standard Version of the contract, we
assess a daily mortality and expense charge that is equal, on an annual basis,
to 0.85% of the average daily net asset value of each Investment Portfolio. For
the C Share Option, we assess a daily mortality and expense charge that is
equal, on an annual basis, to 1.10% of the average daily net asset value of
each Investment Portfolio.
This charge compensates us for mortality risks we assume, including making
Annuity Payments that will not change based on our actual mortality experience
and, for the Standard Version of the contract, waiving withdrawal charges in
the event of the Owner's death during the Accumulation Phase. The charge also
compensates us for expense risks we assume to cover contract maintenance
expenses. These expenses may include issuing contracts, maintaining records,
making and maintaining subaccounts available under the contract and performing
accounting, regulatory compliance, and reporting functions. This charge also
compensates us for costs associated with the establishment and administration
of the contract, including programs like transfers and dollar cost averaging.
If the mortality and expense charge is inadequate to cover the actual expenses
of mortality, maintenance, and administration, we will bear the loss. If the
charge exceeds the actual expenses, we will add the excess to our profit and it
may be used to finance distribution expenses or for any other purpose.
ADMINISTRATION CHARGE. This charge is equal, on an annual basis, to 0.25% of
the average daily net asset value of each Investment Portfolio. This charge is
reduced for contracts with $500,000 or greater in cumulative Purchase Payments
as shown in the following table:
ADMINISTRATION ADMINISTRATION
CHARGE FOR CHARGE FOR
CONTRACTS WITH CONTRACTS WITH
CUMULATIVE PURCHASE CUMULATIVE PURCHASE
PAYMENTS LESS PAYMENTS EQUAL
THAN OR EQUAL TO OR GREATER
TO $499,999 THAN $500,000
(AS A PERCENTAGE OF (AS A PERCENTAGE OF
AVERAGE ACCOUNT AVERAGE ACCOUNT
VALUE IN THE VALUE IN THE
CONTRACT OPTION SEPARATE ACCOUNT) SEPARATE ACCOUNT)
------------------ --------------------- --------------------
Standard Version 0.25% 0.10%
C Share Option 0.25% 0.15%
This charge, together with the account fee (see below), is for the expenses
associated with the administration of the contract. Some of these expenses are:
issuing contracts, maintaining records, providing accounting, valuation,
regulatory and reporting services, as well as expenses associated with
marketing, sale and distribution of the contracts.
REDUCED ADMINISTRATION CHARGE. The lower administration charge is applied and
effective on the day when the amount of cumulative Purchase Payments reaches
$500,000 or greater. This can occur on the issue date for contracts with an
initial Purchase Payment of $500,000 or greater or on a later date as a result
of one or more subsequent Purchase Payments. Once the lower administration
charge is applied, it remains in effect and no adjustments will be made for
withdrawals. We will not adjust the charge on a retroactive basis to recover
any amount of the administration charge assessed during any Contract Year. The
reduced charge applies to individual contracts only.
DEATH BENEFIT RIDER CHARGE. If you select the Return of Premium death benefit,
we will deduct a charge that compensates us for the costs and risks we assume
in providing the benefit. This charge (assessed during the Accumulation Phase)
is equal, on an annual basis, to 0.25% of the average daily net asset value of
each Investment Portfolio.
ACCOUNT FEE
During the Accumulation Phase, every Contract Year on your contract anniversary
(the anniversary of the date when your contract was issued), we will deduct $30
from your contract as an account fee for the prior Contract Year if your
Account Value is less than $50,000. If you make a complete withdrawal from your
contract, the full account fee will be deducted from the Account Value
regardless of the amount of your Account Value. During the Accumulation Phase,
the account fee is deducted pro rata from the Investment Portfolios. This
charge is for administrative expenses (see above). This charge cannot be
increased.
A pro rata portion of the charge will be deducted from the Account Value on the
Annuity Date if this date is other than a contract anniversary. If your Account
Value on the Annuity Date is at least $50,000, then we will not deduct the
account fee. After the Annuity Date, the charge will be collected monthly out
of the Annuity Payment, regardless of the size of your contract.
WITHDRAWAL CHARGE
If you selected the C Share Option, no withdrawal charges apply. For the
Standard Version, we impose a withdrawal charge to reimburse us for contract
sales expenses,
28
including commissions and other distribution, promotion, and acquisition
expenses. During the Accumulation Phase, you can make a withdrawal from your
contract (either a partial or a complete withdrawal). If the amount you
withdraw is determined to include the withdrawal of any of your prior Purchase
Payments, a withdrawal charge is assessed against each Purchase Payment
withdrawn. To determine what portion (if any) of a withdrawal is subject to a
withdrawal charge, amounts are withdrawn from your contract in the following
order:
1. Earnings in your contract (earnings are equal to your Account Value, less
Purchase Payments not previously withdrawn); then
2. The free withdrawal amount described below (deducted from Purchase Payments
not previously withdrawn, in the order such Purchase Payments were made,
with the oldest Purchase Payment first, as described below); then
3. Purchase Payments not previously withdrawn, in the order such Purchase
Payments were made: the oldest Purchase Payment first, the next Purchase
Payment second, etc. until all Purchase Payments have been withdrawn.
The withdrawal charge is calculated at the time of each withdrawal in
accordance with the following:
Number of Complete Years from Withdrawal Charge
Receipt of Purchase Payment (% of Purchase Payment)
------------------------------- ------------------------
0 7
1 7
2 6
3 6
4 5
5 and thereafter 0
For a partial withdrawal, the withdrawal charge is deducted from the remaining
Account Value, if sufficient. If the remaining Account Value is not sufficient,
the withdrawal charge is deducted from the amount withdrawn.
If the Account Value is smaller than the total of all Purchase Payments, the
withdrawal charge only applies up to the Account Value.
We do not assess the withdrawal charge on any payments paid out as Annuity
Payments or as death benefits. In addition, we will not assess the withdrawal
charge on required minimum distributions from Qualified Contracts in order to
satisfy federal income tax rules or to avoid required federal income tax
penalties. This exception only applies to amounts required to be distributed
from this contract. We do not assess the withdrawal charge on earnings in your
contract.
NOTE: For tax purposes, earnings from Non-Qualified Contracts are considered to
come out first.
FREE WITHDRAWAL AMOUNT. The free withdrawal amount for each Contract Year after
the first (there is no free withdrawal amount in the first Contract Year) is
equal to 10% of your total Purchase Payments, less the total free withdrawal
amount previously withdrawn in the same Contract Year. Also, we currently will
not assess the withdrawal charge on amounts withdrawn during the first Contract
Year under the Systematic Withdrawal Program. Any unused free withdrawal amount
in one Contract Year does not carry over to the next Contract Year.
REDUCTION OR ELIMINATION OF THE WITHDRAWAL CHARGE
GENERAL. We may elect to reduce or eliminate the amount of the withdrawal
charge when the contract is sold under circumstances which reduce our sales
expenses. Some examples are: if there is a large group of individuals that will
be purchasing the contract, or if a prospective purchaser already had a
relationship with us.
NURSING HOME OR HOSPITAL CONFINEMENT RIDER. We will not impose a withdrawal
charge if, after you have owned the contract for one year, you or your Joint
Owner becomes confined to a nursing home and/or hospital for at least 90
consecutive days or confined for a total of at least 90 days if there is no
more than a 6-month break in confinement and the confinements are for related
causes. The confinement must begin after the first contract anniversary and you
must have been the Owner continuously since the contract was issued (or have
become the Owner as the spousal Beneficiary who continues the contract). The
confinement must be prescribed by a physician and be medically necessary. You
must exercise this right no later than 90 days after you or your Joint Owner
exits the nursing home or hospital. This waiver terminates on the Annuity Date.
There is no charge for this rider. This rider is not available in Massachusetts
and South Dakota.
TERMINAL ILLNESS RIDER. After the first contract anniversary, we will waive the
withdrawal charge if you or your Joint Owner are terminally ill and not
expected to live more than 12 months; a physician certifies to your illness and
life expectancy; you were not diagnosed with the
29
terminal illness as of the date we issued your contract; and you have been the
Owner continuously since the contract was issued (or have become the Owner as
the spousal Beneficiary who continues the contract). This waiver terminates on
the Annuity Date. There is no charge for this rider. This rider is not
available in Massachusetts.
The Nursing Home or Hospital Confinement rider and the Terminal Illness rider
are not available for Owners who are age 81 or older (on the contract issue
date). Additional conditions and requirements apply to the Nursing Home or
Hospital Confinement rider and the Terminal Illness rider. They are specified
in the rider(s) that are part of your contract.
PREMIUM AND OTHER TAXES
We reserve the right to deduct from Purchase Payments, account balances,
withdrawals, death benefits or income payments any taxes relating to the
contracts (including, but not limited to, premium taxes) paid by us to any
government entity. Examples of these taxes include, but are not limited to,
premium tax, generation-skipping transfer tax or a similar excise tax under
federal or state tax law which is imposed on payments we make to certain
persons and income tax withholdings on withdrawals and income payments to the
extent required by law. Premium taxes generally range from 0 to 3.5%, depending
on the state. We will, at our sole discretion, determine when taxes relate to
the contracts. We may, at our sole discretion, pay taxes when due and deduct
that amount from the account balance at a later date. Payment at an earlier
date does not waive any right we may have to deduct amounts at a later date. It
is our current practice not to charge premium taxes until Annuity Payments
begin.
TRANSFER FEE
We currently allow unlimited transfers without charge during the Accumulation
Phase. However, we have reserved the right to limit the number of transfers to
a maximum of 12 per year without charge and to charge a transfer fee of $25 for
each transfer greater than 12 in any year. We are currently waiving the
transfer fee, but reserve the right to charge it in the future. The transfer
fee is deducted from the Investment Portfolio or Fixed Account from which the
transfer is made. However, if the entire interest in an account is being
transferred, the transfer fee will be deducted from the amount which is
transferred.
If the transfer is part of a pre-scheduled transfer program, it will not count
in determining the transfer fee.
INCOME TAXES
We reserve the right to deduct from the contract for any income taxes which we
incur because of the contract. In general, we believe under current federal
income tax law, we are entitled to hold reserves with respect to the contract
that offset Separate Account income. If this should change, it is possible we
could incur income tax with respect to the contract, and in that event we may
deduct such tax from the contract. At the present time, however, we are not
incurring any such income tax or making any such deductions.
INVESTMENT PORTFOLIO EXPENSES
There are deductions from and expenses paid out of the assets of each
Investment Portfolio, which are described in the Investment Portfolio
prospectuses. These deductions and expenses are not charges under the terms of
the contract, but are represented in the share values of each Investment
Portfolio.
5. ANNUITY PAYMENTS
(THE INCOME PHASE)
ANNUITY DATE
Under the contract you can receive regular income payments (referred to as
Annuity Payments). You can choose the month and year in which those payments
begin. We call that date the Annuity Date. Your Annuity Date must be at least
30 days after we issue the contract and will be the first day of the calendar
month unless, subject to our current established administrative procedures, we
allow you to select another day of the month as your Annuity Date.
When you purchase the contract, the Annuity Date will be the later of the first
day of the calendar month after the Annuitant's 90th birthday or 10 years from
the date your contract was issued. You can change or extend the Annuity Date at
any time before the Annuity Date with 30 days prior notice to us (subject to
restrictions that may apply in your state, restrictions imposed by your selling
firm, and our current established administrative procedures).
PLEASE BE AWARE THAT ONCE YOUR CONTRACT IS ANNUITIZED, YOUR BENEFICIARY (OR
BENEFICIARIES) IS ineligible to receive the death benefit you have selected.
ANNUITY PAYMENTS
You (unless another payee is named) will receive the Annuity Payments during
the Income Phase. The Annuitant
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is the natural person(s) whose life we look to in the determination of Annuity
Payments.
During the Income Phase, you have the same investment choices you had just
before the start of the Income Phase. At the Annuity Date, you can choose
whether payments will be:
o fixed Annuity Payments, or
o variable Annuity Payments, or
o a combination of both.
If you don't tell us otherwise, your Annuity Payments will be based on the
investment allocations that were in place just before the start of the Income
Phase.
If you choose to have any portion of your Annuity Payments based on the
Investment Portfolio(s), the dollar amount of your initial payment will vary
and will depend upon three things:
1) the value of your contract in the Investment Portfolio(s) just before the
start of the Income Phase,
2) the assumed investment return (AIR) (you select) used in the annuity table
for the contract, and
3) the Annuity Option elected.
Subsequent variable Annuity Payments will vary with the performance of the
Investment Portfolios you selected. (For more information, see "Variable
Annuity Payments" below.)
At the time you choose an Annuity Option, you select the AIR, which must be
acceptable to us. Currently, you can select an AIR of 3% or 4%. You can change
the AIR with 30 days' notice to us prior to the Annuity Date. If you do not
select an AIR, we will use 3%. If the actual performance exceeds the AIR, your
variable Annuity Payments will increase. Similarly, if the actual investment
performance is less than the AIR, your variable Annuity Payments will decrease.
Your variable Annuity Payment is based on Annuity Units. An Annuity Unit is an
accounting device used to calculate the dollar amount of Annuity Payments. (For
more information, see "Variable Annuity Payments" below.)
When selecting an AIR, you should keep in mind that a lower AIR will result in
a lower initial variable Annuity Payment, but subsequent variable Annuity
Payments will increase more rapidly or decline more slowly as changes occur in
the investment experience of the Investment Portfolios. On the other hand, a
higher AIR will result in a higher initial variable Annuity Payment than a
lower AIR, but later variable Annuity Payments will rise more slowly or fall
more rapidly.
A transfer during the Income Phase from a variable Annuity Payment option to a
fixed Annuity Payment option may result in a reduction in the amount of Annuity
Payments.
If you choose to have any portion of your Annuity Payments be a fixed Annuity
Payment, the dollar amount of each fixed Annuity Payment will not change,
unless you make a transfer from a variable Annuity Payment option to the fixed
Annuity Payment that causes the fixed Annuity Payment to increase. Please refer
to the "Annuity Provisions" section of the Statement of Additional Information
for more information.
Annuity Payments are made monthly (or at any frequency permitted under the
contract) unless you have less than $5,000 to apply toward an Annuity Option.
In that case, we may provide your Annuity Payment in a single lump sum instead
of Annuity Payments. Likewise, if your Annuity Payments would be or become less
than $100 a month, we have the right to change the frequency of payments so
that your Annuity Payments are at least $100.
ANNUITY OPTIONS
You can choose among income plans. We call those Annuity Options. You can
change your Annuity Option at any time before the Annuity Date with 30 days'
notice to us.
If you do not choose an Annuity Option, Option 2, which provides a life annuity
with 10 years of guaranteed Annuity Payments, will automatically be applied.
You can choose one of the following Annuity Options or any other Annuity Option
acceptable to us. After Annuity Payments begin, you cannot change the Annuity
Option.
If more than one frequency is permitted under your contract, choosing less
frequent payments will result in each Annuity Payment being larger. Annuity
Options that guarantee that payments will be made for a certain number of years
regardless of whether the Annuitant or joint Annuitant are alive (such as
Options 2 and 4 below) result in Annuity Payments that are smaller than Annuity
Options without such a guarantee (such as Options 1 and 3 below). For Annuity
Options with a designated period, choosing a shorter designated period will
result in each Annuity Payment being larger.
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OPTION 1. LIFE ANNUITY. Under this option, we will make Annuity Payments so
long as the Annuitant is alive. We stop making Annuity Payments after the
Annuitant's death. It is possible under this option to receive only one Annuity
Payment if the Annuitant dies before the due date of the second payment or to
receive only two Annuity Payments if the Annuitant dies before the due date of
the third payment, and so on.
OPTION 2. LIFE ANNUITY WITH 10 YEARS OF ANNUITY PAYMENTS GUARANTEED. Under this
option, we will make Annuity Payments so long as the Annuitant is alive. If,
when the Annuitant dies, we have made Annuity Payments for less than ten years,
we will then continue to make Annuity Payments to the Beneficiary for the rest
of the 10 year period.
OPTION 3. JOINT AND LAST SURVIVOR ANNUITY. Under this option, we will make
Annuity Payments so long as the Annuitant and a second person (joint Annuitant)
are both alive. When either Annuitant dies, we will continue to make Annuity
Payments, so long as the survivor continues to live. We will stop making
Annuity Payments after the last survivor's death.
OPTION 4. JOINT AND LAST SURVIVOR ANNUITY WITH 10 YEARS OF ANNUITY PAYMENTS
GUARANTEED. Under this option, we will make Annuity Payments so long as the
Annuitant and a second person (joint Annuitant) are both alive. When either
Annuitant dies, we will continue to make Annuity Payments, so long as the
survivor continues to live. If, at the last death of the Annuitant and the
joint Annuitant, we have made Annuity Payments for less than ten years, we will
then continue to make Annuity Payments to the Beneficiary for the rest of the
10 year period.
OPTION 5. PAYMENTS FOR A DESIGNATED PERIOD. We currently offer an Annuity
Option under which fixed or variable monthly Annuity Payments are made for a
selected number of years as approved by us, currently not less than 10 years.
This Annuity Option may be limited or withdrawn by us in our discretion.
We may require proof of age or sex of an Annuitant before making any Annuity
Payments under the contract that are measured by the Annuitant's life. If the
age or sex of the Annuitant has been misstated, the amount payable will be the
amount that the Account Value would have provided at the correct age or sex.
Once Annuity Payments have begun, any underpayments will be made up in one sum
with the next Annuity Payment. Any overpayments will be deducted from future
Annuity Payments until the total is repaid.
A commutation feature (a feature that allows the Owner to receive a lump sum of
the present value of future Annuity Payments) is available under the variable
Payments for a Designated Period Annuity Option (Option 5). You may not commute
the fixed Payments for a Designated Period Annuity Option or any option
involving a life contingency, whether fixed or variable, prior to the death of
the last surviving Annuitant. Upon the death of the last surviving Annuitant,
the Beneficiary may choose to continue receiving income payments or to receive
the commuted value of the remaining guaranteed payments. For variable Annuity
Options, the calculation of the commuted value will be done using the AIR
applicable to the contract. (See "Annuity Payments" above.) For fixed Annuity
Options, the calculation of the commuted value will be done using the then
current Annuity Option rates.
There may be tax consequences resulting from the election of an Annuity Payment
option containing a commutation feature (i.e., an Annuity Payment option that
permits the withdrawal of a commuted value). (See "Federal Income Tax Status.")
Due to underwriting, administrative or Internal Revenue Code considerations,
there may be limitations on payments to the survivor under Options 3 and 4
and/or the duration of the guarantee period under Options 2, 4, and 5.
Tax rules with respect to decedent contracts may prohibit the election of Joint
and Last Survivor Annuity Options (or income types) and may also prohibit
payments for as long as the Owner's life in certain circumstances.
In addition to the Annuity Options described above, we may offer an additional
payment option that would allow your Beneficiary to take distribution of the
Account Value over a period not extending beyond his or her life expectancy.
Under this option, annual distributions would not be made in the form of an
annuity, but would be calculated in a manner similar to the calculation of
required minimum distributions from IRAs. (See "Federal Income Tax Status.") We
intend to make this payment option available to both Qualified Contracts and
Non-Qualified Contracts.
In the event that you purchased the contract as a Qualified Contract, you must
take distribution of the Account Value in accordance with the minimum required
distribution rules set forth in applicable tax law. (See "Federal Income Tax
Status.") Under certain circumstances, you may satisfy those requirements by
electing an Annuity Option. You may choose any death benefit available under
the contract,
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but certain other contract provisions and programs will not be available. Upon
your death, if Annuity Payments have already begun, the death benefit would be
required to be distributed to your Beneficiary at least as rapidly as under the
method of distribution in effect at the time of your death.
VARIABLE ANNUITY PAYMENTS
The Adjusted Contract Value (the Account Value, less any applicable premium
taxes, account fee, and any prorated rider charge) is determined on the annuity
calculation date, which is a Business Day no more than five (5) Business Days
before the Annuity Date. The first variable Annuity Payment will be based upon
the Adjusted Contract Value, the Annuity Option elected, the Annuitant's age,
the Annuitant's sex (where permitted by law), and the appropriate variable
Annuity Option table. Your annuity rates will not be less than those guaranteed
in your contract at the time of purchase for the assumed investment return and
Annuity Option elected. If, as of the annuity calculation date, the then
current variable Annuity Option rates applicable to this class of contracts
provide a first Annuity Payment greater than that which is guaranteed under the
same Annuity Option under this contract, the greater payment will be made.
The dollar amount of variable Annuity Payments after the first payment is
determined as follows:
o The dollar amount of the first variable Annuity Payment is divided by the
value of an Annuity Unit for each applicable Investment Portfolio as of
the annuity calculation date. This establishes the number of Annuity Units
for each payment. The number of Annuity Units for each applicable
Investment Portfolio remains fixed during the annuity period, provided
that transfers among the Investment Portfolios will be made by converting
the number of Annuity Units being transferred to the number of Annuity
Units of the Investment Portfolio to which the transfer is made, and the
number of Annuity Units will be adjusted for transfers to a fixed Annuity
Option. Please see the Statement of Additional Information for details
about making transfers during the Annuity Phase.
o The fixed number of Annuity Units per payment in each Investment Portfolio
is multiplied by the Annuity Unit value for that Investment Portfolio for
the Business Day for which the Annuity Payment is being calculated. This
result is the dollar amount of the payment for each applicable Investment
Portfolio, less any account fee. The account fee will be deducted pro rata
out of each Annuity Payment.
o The total dollar amount of each variable Annuity Payment is the sum of all
Investment Portfolio variable Annuity Payments.
ANNUITY UNIT. The initial Annuity Unit value for each Investment Portfolio of
the Separate Account was set by us. The subsequent Annuity Unit value for each
Investment Portfolio is determined by multiplying the Annuity Unit value for
the immediately preceding Business Day by the net investment factor (see the
Statement of Additional Information for a definition) for the Investment
Portfolio for the current Business Day and multiplying the result by a factor
for each day since the last Business Day which represents the daily equivalent
of the AIR you elected.
FIXED ANNUITY PAYMENTS
The Adjusted Contract Value (defined above under "Variable Annuity Payments")
is determined on the annuity calculation date, which is a Business Day no more
than five (5) Business Days before the Annuity Date. This value will be used to
determine a fixed Annuity Payment. The Annuity Payment will be based upon the
Annuity Option elected, the Annuitant's age, the Annuitant's sex (where
permitted by law), and the appropriate Annuity Option table. Your annuity rates
will not be less than those guaranteed in your contract at the time of
purchase. If, as of the annuity calculation date, the then current Annuity
Option rates applicable to this class of contracts provide an Annuity Payment
greater than that which is guaranteed under the same Annuity Option under this
contract, the greater payment will be made. You may not make a transfer from
the fixed Annuity Option to the variable Annuity Option.
6. ACCESS TO YOUR MONEY
You (or in the case of a death benefit, or certain Annuity Options upon the
death of the last surviving Annuitant, your Beneficiary) can have access to the
money in your contract:
(1) by making a withdrawal (either a partial or a complete withdrawal);
(2) by electing to receive Annuity Payments;
(3) when a death benefit is paid to your Beneficiary; or
(4) under certain Annuity Options described under "Annuity Payments (The Income
Phase) -- Annuity
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Options" that provide for continuing Annuity Payments or a cash refund to
your Beneficiary upon the death of the last surviving Annuitant.
Under most circumstances, withdrawals can only be made during the Accumulation
Phase.
You may establish a withdrawal plan under which you can receive substantially
equal periodic payments in order to comply with the requirements of Sections
72(q) or (t) of the Code. Premature modification or termination of such
payments may result in substantial penalty taxes. (See "Federal Income Tax
Status.")
When you make a complete withdrawal, you will receive the withdrawal value of
the contract. The withdrawal value of the contract is the Account Value of the
contract at the end of the Business Day when we receive a written request for a
withdrawal:
o less any applicable withdrawal charge;
o less any premium or other tax; and
o less any account fee.
Unless you instruct us otherwise, any partial withdrawal will be made pro rata
from the Fixed Account and the Investment Portfolio(s) you selected. Under most
circumstances the amount of any partial withdrawal must be for at least $500,
or your entire interest in the Investment Portfolio or Fixed Account. We
require that after a partial withdrawal is made you keep at least $2,000 in the
contract. If the withdrawal would result in the Account Value being less than
$2,000 after a partial withdrawal, we will treat the withdrawal request as a
request for a full withdrawal. (See "Purchase -- Termination for Low Account
Value" for more information.)
We will pay the amount of any withdrawal from the Separate Account within seven
days of when we receive the request in Good Order unless the suspension of
payments or transfers provision is in effect.
We may withhold payment of withdrawal proceeds if any portion of those proceeds
would be derived from a contract Owner's check that has not yet cleared (i.e.,
that could still be dishonored by the contract Owner's banking institution). We
may use telephone, fax, Internet or other means of communication to verify that
payment from the contract Owner's check has been or will be collected. We will
not delay payment longer than necessary for us to verify that payment has been
or will be collected. Contract Owners may avoid the possibility of delay in the
disbursement of proceeds coming from a check that has not yet cleared by
providing us with a certified check.
How to withdraw all or part of your Account Value:
o You must submit a request to our Annuity Service Center. (See "Other
Information -- Requests and Elections.")
o If you would like to have the withdrawal charge waived under the Nursing
Home or Hospital Confinement Rider or the Terminal Illness Rider, you must
provide satisfactory evidence of confinement to a nursing home or hospital
or terminal illness. (See "Expenses -- Reduction or Elimination of the
Withdrawal Charge.")
o You must state in your request whether you would like to apply the proceeds
to a payment option (otherwise you will receive the proceeds in a lump sum
and may be taxed on them).
o We have to receive your withdrawal request in our Annuity Service Center
prior to the Annuity Date or Owner's death; provided, however, that you
may submit a written withdrawal request any time prior to the Annuity Date
that indicates that the withdrawal should be processed as of the Annuity
Date. Solely for the purpose of calculating and processing such a
withdrawal request, the request will be deemed to have been received on,
and the withdrawal amount will be priced according to the Accumulation
Unit value calculated as of, the Annuity Date. Your request must be
received at our Annuity Service Center on or before the Annuity Date.
There are limits to the amount you can withdraw from certain qualified plans
including Qualified and TSA plans. (See "Federal Income Tax Status.")
INCOME TAXES, TAX PENALTIES AND CERTAIN RESTRICTIONS MAY APPLY TO ANY
WITHDRAWAL YOU MAKE.
DIVORCE. A withdrawal made pursuant to a divorce or separation instrument is
subject to the same withdrawal charge provisions as described in
"Expenses -- Withdrawal Charge," if permissible under tax law (there are no
withdrawal charges if you selected the C Share Option). In addition, the
withdrawal will reduce the Account Value and the death benefit. The withdrawal
could have a significant negative impact on the optional Return of Premium
death benefit.
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SYSTEMATIC WITHDRAWAL PROGRAM
You may elect the Systematic Withdrawal Program at any time. We do not assess a
charge for this program. This program provides an automatic payment to you of
up to 10% of your total Purchase Payments each year for the Standard Version or
20% of your total Purchase Payments each year for the C-Share Option. You can
receive payments monthly or quarterly, provided that each payment must amount
to at least $100 (unless we consent otherwise). We reserve the right to change
the required minimum systematic withdrawal amount. If the New York Stock
Exchange is closed on a day when the withdrawal is to be made, we will process
the withdrawal on the next Business Day. While the Systematic Withdrawal
Program is in effect you can make additional withdrawals. However, such
withdrawals plus the systematic withdrawals will be considered when determining
the applicability of any withdrawal charge. (There is no withdrawal charge for
the C-Share Option. For a discussion of the withdrawal charge, see "Expenses"
above.)
We will terminate your participation in the Systematic Withdrawal Program when
we receive notification of your death.
INCOME TAXES, TAX PENALTIES AND CERTAIN RESTRICTIONS MAY APPLY TO SYSTEMATIC
WITHDRAWALS.
SUSPENSION OF PAYMENTS OR TRANSFERS
We may be required to suspend or postpone payments for withdrawals or transfers
for any period when:
o the New York Stock Exchange is closed (other than customary weekend and
holiday closings);
o trading on the New York Stock Exchange is restricted;
o an emergency exists, as determined by the Securities and Exchange
Commission, as a result of which disposal of shares of the Investment
Portfolios is not reasonably practicable or we cannot reasonably value the
shares of the Investment Portfolios; or
o during any other period when the Securities and Exchange Commission, by
order, so permits for the protection of Owners.
We have reserved the right to defer payment for a withdrawal or transfer from
the Fixed Account for the period permitted by law, but not for more than six
months.
Federal laws designed to counter terrorism and prevent money laundering might,
in certain circumstances, require us to block an Owner's ability to make
certain transactions and thereby refuse to accept any requests for transfers,
withdrawals, surrenders, or death benefits until instructions are received from
the appropriate regulator. We may also be required to provide additional
information about you and your contract to government regulators.
7. PERFORMANCE
We periodically advertise subaccount performance relating to the Investment
Portfolios. We will calculate performance by determining the percentage change
in the value of an Accumulation Unit by dividing the increase (decrease) for
that unit by the value of the Accumulation Unit at the beginning of the period.
This performance number reflects the deduction of the Separate Account product
charges (including certain death benefit rider charges) and the Investment
Portfolio expenses. It does not reflect the deduction of any applicable account
fee, withdrawal charge, or applicable optional rider charges. The deduction of
these charges would reduce the percentage increase or make greater any
percentage decrease. Any advertisement will also include total return figures
which reflect the deduction of the Separate Account product charges (including
certain death benefit rider charges), account fee, withdrawal charges,
applicable optional rider charges, and the Investment Portfolio expenses.
For periods starting prior to the date the contract was first offered, the
performance will be based on the historical performance of the corresponding
Investment Portfolios for the periods commencing from the date on which the
particular Investment Portfolio was made available through the Separate
Account.
In addition, the performance for the Investment Portfolios may be shown for the
period commencing from the inception date of the Investment Portfolios. These
figures should not be interpreted to reflect actual historical performance of
the Separate Account.
We may, from time to time, include in our advertising and sales materials
performance information for funds or investment accounts related to the
Investment Portfolios and/or their investment advisers or subadvisers. Such
related performance information also may reflect the deduction of certain
contract charges. We may also include in our advertising and sales materials
tax deferred compounding charts and other hypothetical illustrations,
35
which may include comparisons of currently taxable and tax deferred investment
programs, based on selected tax brackets.
We may advertise using illustrations with historical performance of specific
Investment Portfolios or with a hypothetical rate of return (which rate will
not exceed 12%) or a combination of historical and hypothetical returns. These
illustrations will reflect the deduction of all applicable charges including
the portfolio expenses of the underlying Investment Portfolios.
You should know that for any performance we illustrate, future performance will
vary and results shown are not necessarily representative of future results.
8. DEATH BENEFIT
UPON YOUR DEATH
If you die during the Accumulation Phase, we will pay a death benefit to your
Beneficiary (or Beneficiaries). This death benefit is described below. There is
no death benefit during the Annuity Period, however, depending on the Annuity
Option you elect, any remaining guarantee (i.e., cash refund amount or
guaranteed Annuity Payments) will be paid to your Beneficiary(ies) (see
"Annuity Payments (The Annuity Period)" for more information). The death
benefit is determined as of the end of the Business Day on which we receive
both due proof of death and an election for the payment method. Until the
Beneficiary (or the first Beneficiary if there are multiple Beneficiaries)
submits the necessary documentation in Good Order, the Account Value
attributable to his/her portion of the death benefit remains in the Investment
Portfolios and is subject to investment risk.
Where there are multiple Beneficiaries, any guaranteed death benefit will only
be determined as of the time the first Beneficiary submits the necessary
documentation in Good Order. For the optional Return of Premium death benefit,
if the guaranteed death benefit payable is an amount that exceeds the Account
Value on the day it is determined, we will apply to the contract's Account
Value an amount equal to the difference between the death benefit payable and
the Account Value, in accordance with the current allocation of the Account
Value. If the Optional Return of Premium death benefit was not elected, the
amount of the death benefit payable to the first Beneficiary is that
Beneficiary's portion of the Account Value. If the optional Return of Premium
death benefit was elected, the amount of the death benefit payable to the first
Beneficiary is that Beneficiary's portion of the greater of 1) the Account
Value or 2) the guaranteed death benefit amount, each determined as of the date
of his/her claim in Good Order. The remaining death benefit amounts are held in
the Investment Portfolios until each of the other Beneficiaries submits the
necessary documentation in Good Order to claim his/her death benefit (see
"General Death Benefit Provisions" below) and are subject to investment risk
until we receive his/her necessary documentation .
If you have a Joint Owner, the death benefit will be paid when the first Owner
dies. Upon the death of either Owner, the surviving Joint Owner will be the
primary Beneficiary. Any other Beneficiary designation will be treated as a
contingent Beneficiary, unless instructed otherwise.
If a non-natural person owns the contract, the Annuitant will be deemed to be
the Owner in determining the death benefit. If there are Joint Owners, the age
of the oldest Owner will be used to determine the death benefit amount.
If we are presented with notification of your death before any requested
transaction is completed (including transactions under a dollar cost averaging
program, the Automatic Rebalancing Program, the Systematic Withdrawal Program,
or the Automated Required Minimum Distribution Program), we will cancel the
request. As described above, the death benefit will be determined when we
receive both due proof of death and an election for the payment method.
STANDARD DEATH BENEFIT (ACCOUNT VALUE)
The death benefit will be equal to the Account Value as of the end of the
Business Day on which we receive both due proof of death and an election for
the payment method.
OPTIONAL DEATH BENEFIT -- RETURN OF PREMIUM
If you select the Return of Premium death benefit rider, the death benefit will
be the greater of:
(1) the Account Value; or
(2) total Purchase Payments, reduced proportionately by the percentage
reduction in Account Value attributable to each partial withdrawal
(including any applicable withdrawal charge).
If the Owner is a natural person and the Owner is changed to someone other than
a spouse, the death benefit amount will be determined as defined above;
however, subsection (2) will be changed to provide as follows: "the Account
Value as of the effective date of the change of Owner, increased by Purchase
Payments received after the date of
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the change of Owner, reduced proportionately by the percentage reduction in
Account Value attributable to each partial withdrawal (including any applicable
withdrawal charge) made after such date."
In the event that a Beneficiary who is the spouse of the Owner elects to
continue the contract in his or her name after the Owner dies, the death
benefit amount under the Return of Premium death benefit will be determined in
accordance with (1) or (2) above.
(See Appendix C for examples of the Return of Premium death benefit.)
GENERAL DEATH BENEFIT PROVISIONS
As described above, the death benefit is determined as of the end of the
Business Day on which we receive both due proof of death and an election for
the payment method. Until a Beneficiary submits the necessary documentation in
Good Order, the Account Value attributable to his/her portion of the death
benefit remains in the Investment Portfolios and is subject to investment risk.
This risk is borne by the Beneficiary.
If the Beneficiary under a Qualified Contract is the Annuitant's spouse, the
tax law generally allows distributions to begin by the year in which the
Annuitant would have reached 70 1/2 (which may be more or less than five years
after the Annuitant's death).
A Beneficiary must elect the death benefit to be paid under one of the payment
options (unless the Owner has previously made the election). The entire death
benefit must be paid within five years of the date of death unless the
Beneficiary elects to have the death benefit payable under an Annuity Option.
The death benefit payable under an Annuity Option must be paid over the
Beneficiary's lifetime or for a period not extending beyond the Beneficiary's
life expectancy. For Non-Qualified Contracts, payment must begin within one
year of the date of death. For Qualified Contracts, payment must begin no later
than the end of the calendar year immediately following the year of death.
We may also offer a payment option, for both Non-Qualified Contracts and
certain Qualified Contracts, under which your Beneficiary may receive payments,
over a period not extending beyond his or her life expectancy, under a method
of distribution similar to the distribution of required minimum distributions
from Individual Retirement Accounts. If this option is elected, we will issue a
new contract to your Beneficiary in order to facilitate the distribution of
payments. Your Beneficiary may choose any optional death benefit available
under the new contract. Upon the death of your Beneficiary, the death benefit
would be required to be distributed to your Beneficiary's beneficiary at least
as rapidly as under the method of distribution in effect at the time of your
Beneficiary's death. (See "Federal Income Tax Status.") To the extent permitted
under the tax law, and in accordance with our procedures, your designated
Beneficiary is permitted under our procedures to make additional Purchase
Payments consisting of monies which are direct transfers (as permitted under
tax law) from other Qualified Contracts or Non-Qualified Contracts, depending
on which type of contract you own, held in the name of the decedent. Any such
additional Purchase Payments would be subject to applicable withdrawal charges.
Your Beneficiary is also permitted to choose some of the optional benefits
available under the contract, but certain contract provisions or programs may
not be available.
If a lump sum payment is elected and all the necessary requirements are met,
the payment will be made within seven days. Payment to the Beneficiary under an
Annuity Option may only be elected during the 60-day period beginning with the
date we receive due proof of death.
If the Owner or a Joint Owner, who is not the Annuitant, dies during the Income
Phase, any remaining payments under the Annuity Option elected will continue at
least as rapidly as under the method of distribution in effect at the time of
the Owner's death. Upon the death of the Owner or a Joint Owner during the
Income Phase, the Beneficiary becomes the Owner.
SPOUSAL CONTINUATION
If the primary Beneficiary is the spouse of the Owner, upon the Owner's death,
the Beneficiary may elect to continue the contract in his or her own name. Upon
such election, the Account Value will be adjusted upward (but not downward) to
an amount equal to the death benefit amount determined upon such election and
receipt of due proof of death of the Owner. Any excess of the death benefit
amount over the Account Value will be allocated to each applicable Investment
Portfolio and/or the Fixed Account in the ratio that the Account Value in the
Investment Portfolio and/or the Fixed Account bears to the total Account Value.
The terms and conditions of the contract that applied prior to the Owner's
death will
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continue to apply, including the ability to make Purchase Payments, with
certain exceptions described in the contract.
For purposes of the death benefit on the continued contract, the death benefit
is calculated in the same manner as it was prior to continuation except that
all values used to calculate the death benefit are reset on the date the spouse
continues the contract.
Spousal continuation will not satisfy minimum required distribution rules for
Qualified Contracts other than IRAs (see "Federal Income Tax Status").
All contract provisions will be interpreted and administered in accordance with
the requirements of the Code. Any Internal Revenue Code reference to "spouses"
includes those persons who are married spouses under state law, regardless of
sex.
DEATH OF THE ANNUITANT
If the Annuitant, not an Owner or Joint Owner, dies during the Accumulation
Phase, you automatically become the Annuitant. You can select a new Annuitant
if you do not want to be the Annuitant (subject to our then current
underwriting standards). However, if the Owner is a non- natural person (for
example, a trust), then the death of the primary Annuitant will be treated as
the death of the Owner, and a new Annuitant may not be named.
Upon the death of the Annuitant after Annuity Payments begin, the death
benefit, if any, will be as provided for in the Annuity Option selected. Death
benefits will be paid at least as rapidly as under the method of distribution
in effect at the Annuitant's death.
CONTROLLED PAYOUT
You may elect to have the death benefit proceeds paid to your Beneficiary in
the form of Annuity Payments for life or over a period of time that does not
exceed your Beneficiary's life expectancy. This election must be in writing in
Good Order. You may revoke the election only in writing in Good Order. Upon
your death, the Beneficiary cannot revoke or modify your election. The
Controlled Payout is only available to Non-Qualified Contracts.
9. FEDERAL INCOME TAX STATUS
INTRODUCTION
The following information on taxes is a general discussion of the subject. It
is not intended as tax advice. The Internal Revenue Code (the Code) and the
provisions of the Code that govern the contract are complex and subject to
change. The applicability of federal income tax rules may vary with your
particular circumstances. This discussion does not include all the federal
income tax rules that may affect you and your contract. Nor does this
discussion address other federal tax consequences (such as estate and gift
taxes, sales to foreign individuals or entities), or state or local tax
consequences, which may affect your investment in the contract. As a result,
you should always consult a tax adviser for complete information and advice
applicable to your individual situation.
We are not responsible for determining if your employer's plan or arrangement
satisfies the requirements of the Code and/or the Employee Retirement Income
Security Act of 1974 (ERISA).
We do not expect to incur federal, state or local income taxes on the earnings
or realized capital gains attributable to the Separate Account. However, if we
do incur such taxes in the future, we reserve the right to charge amounts
allocated to the Separate Account for these taxes.
To the extent permitted under federal tax law, we may claim the benefit of the
corporate dividends received deduction and of certain foreign tax credits
attributable to taxes paid by certain of the Investment Portfolios to foreign
jurisdictions.
Any Code reference to "spouse" includes those persons who enter into lawful
marriages under state law, regardless of sex.
NON-QUALIFIED CONTRACTS
This discussion assumes the contract is an annuity contract for federal income
tax purposes that is not held in a tax qualified plan. Tax qualified plans
include arrangements described in Code Sections 401(a), 401(k), 403(a), 403(b)
or tax sheltered annuities (TSA), 408 or "IRAs" (including SEP and SIMPLE
IRAs), 408A or "Roth IRAs" or 457(b) or governmental 457(b) plans. Contracts
owned through such plans are referred to below as "Qualified Contracts."
ACCUMULATION
Generally, an Owner of a Non-Qualified Contract is not taxed on increases in
the value of the contract until there is a distribution from the contract, i.e.
surrender, partial withdrawal, income payment, or commutation. This deferral of
taxation on accumulated value in the contract is limited to contracts owned by
or held for the benefit of "natural persons." A contract will be treated as
held by a
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natural person if the nominal Owner is a trust or other entity which holds the
contract as an agent for the exclusive benefit of a natural person.
In contrast, a contract owned by other than a "natural person," such as a
corporation, partnership, trust, or other entity, will be taxed currently on
the increase in accumulated value in the contract in the year earned. Note that
in this regard, an employer which is the Owner of an annuity contract under a
non-qualified deferred compensation arrangement for its employees, or others,
is considered a non-natural Owner and any annual increase in the Account Value
will be subject to current income taxation.
SURRENDERS OR WITHDRAWALS - EARLY DISTRIBUTION
If you take a withdrawal from your contract, or surrender your contract prior
to the date you commence taking annuity or "income" payments (the "Annuity
Starting Date"), the amount you receive will be treated first as coming from
earnings, if any, (and thus subject to income tax) and then from your Purchase
Payments (which are not subject to income tax). If the accumulated value is
less than your Purchase Payments upon surrender of your contract, you might be
able to claim any unrecovered Purchase Payments on your federal income tax
return as a miscellaneous itemized deduction.
The portion of any withdrawal from an annuity contract that is subject to
income tax will also be subject to a 10% federal income tax penalty for "early"
distribution if such withdrawal is taken prior to you reaching age 59 1/2,
unless an exception applies. Exceptions include distributions made:
(a) on account of your death or disability,
(b) as part of a series of substantially equal periodic payments payable for
your life (or life expectancy) or joint lives (joint life expectancies)
of you and your designated Beneficiary, or
(c) under certain immediate income annuities providing for substantially equal
payments made at least annually.
If you receive systematic payments that you intend to qualify for the
"substantially equal periodic payments" exception noted above, any
modifications (except due to death or disability) to your payment before age
59 1/2 or within five years after beginning these payments, whichever is later,
will result in the retroactive imposition of the 10% federal income tax penalty
with interest. Such modifications may include but are not limited to additional
Purchase Payments to the contract (including tax-free transfers or rollovers)
and additional withdrawals from the contract.
Amounts received as a partial withdrawal may be fully includible in taxable
income to the extent of gain in the contract.
If your contract has been purchased with an Optional Two Year Withdrawal
Feature or is for a guaranteed period only (term certain) annuity, and is
terminated as a result of the exercise of the withdrawal feature, the taxable
portion of the payment will generally be the excess of the proceeds received
over your remaining after-tax Purchase Payment.
TREATMENT OF SEPARATE ACCOUNT CHARGES
It is possible that at some future date the Internal Revenue Service (IRS) may
consider that contract charges attributable to certain guaranteed death
benefits are to be treated as distributions from the contract to pay for such
non-annuity benefits. Currently, these charges are considered to be an
intrinsic part of the contract and we do not report these as taxable income.
However, if this treatment changes in the future, the charge could also be
subject to a 10% federal income tax penalty as an early distribution, as
described above.
AGGREGATION
If you purchase two or more deferred annuity contracts from us (or our
affiliates) during the same calendar year, the law requires that all such
contracts must be treated as a single contract for purposes of determining
whether any payments not received as an annuity (e.g., withdrawals) will be
includible in income. Aggregation could affect the amount of a withdrawal that
is taxable and subject to the 10% federal income tax penalty described above.
Since the IRS may require aggregation in other circumstances as well, you
should consult a tax adviser if you are purchasing more than one annuity
contract from the same insurance company in a single calendar year. Aggregation
does not affect distributions paid in the form of an annuity (see "Taxation of
Payments in Annuity Form" below).
EXCHANGES/TRANSFERS
The annuity contract may be exchanged in whole or in part for another annuity
contract or a long-term care insurance policy. The partial exchange of an
annuity contract may be a tax-free transaction provided that, among other
prescribed IRS conditions, no amounts are distributed from
39
either contract involved in the exchange for 180 days following the date of the
exchange - other than Annuity Payments made for life, joint lives, or for a
term of 10 years or more. Otherwise, a withdrawal or "deemed" distribution may
be includible in your taxable income (plus a 10% federal income tax penalty) to
the extent that the accumulated value of your annuity exceeds your investment
in the contract (your "gain"). Some of the ramifications of a partial exchange
remain unclear. If the annuity contract is exchanged in part for an additional
annuity contract, a distribution from either contract may be taxable to the
extent of the combined gain attributable to both contracts, or only to the
extent of your gain in the contract from which the distribution is paid. It is
not clear whether this guidance applies to a partial exchange involving
long-term care contracts. Consult your tax adviser prior to a partial exchange.
A transfer of ownership of the contract, or the designation of an Annuitant or
other Beneficiary who is not also the contract Owner, may result in income or
gift tax consequences to the contract Owner. You should consult your tax
adviser if you are considering such a transfer or assignment.
DEATH BENEFITS
The death benefit is taxable to the recipient in the same manner as if paid to
the contract Owner (under the rules for withdrawals or income payments,
whichever is applicable).
After your death, any death benefit determined under the contract must be
distributed according to certain rules. The method of distribution that is
required depends on whether you die before or after the Annuity Starting Date.
If you die on or after the Annuity Starting Date, the remaining portion of the
interest in the contract must be distributed at least as rapidly as under the
method of distribution being used as of the date of death.
If you die before the Annuity Starting Date, the entire interest in the
contract must be distributed within five (5) years after the date of death, or
as periodic payments over a period not extending beyond the life or life
expectancy of the designated Beneficiary (provided such payments begin within
one year of your death) and the Beneficiary must be a natural person.
Additionally, if the annuity is payable to (or for the benefit of) your
surviving spouse, that portion of the contract may be continued with your
spouse as the Owner.
For contracts owned by a non-natural person, the required distribution rules
apply upon the death of the Annuitant. If there is more than one Annuitant of a
contract held by a non-natural person, then such required distributions will be
triggered by the death of the first co-Annuitant.
INVESTOR CONTROL
In certain circumstances, Owners of Non-Qualified variable annuity contracts
have been considered to be the owners of the assets of the underlying Separate
Account for federal income tax purposes due to their ability to exercise
investment control over those assets. When this is the case, the contract
Owners have been currently taxed on income and gains attributable to the
variable account assets. There is little guidance in this area, and some
features of the contract, such as the number of Investment Portfolios available
and the flexibility of the contract Owner to allocate Purchase Payments and
transfer amounts among the Investment Portfolios have not been addressed in
public rulings. While we believe that the contract does not give the contract
Owner investment control over Separate Account assets, we reserve the right to
modify the contract as necessary to prevent a contract Owner from being treated
as the owner of the Separate Account assets supporting the contract.
TAXATION OF PAYMENTS IN ANNUITY FORM
Payments received from the contract in the form of an annuity are taxable as
ordinary income to the extent they exceed the portion of the payment determined
by applying the exclusion ratio to the entire payment. The exclusion ratio is
determined at the time the contract is annuitized (i.e., the accumulated value
is converted to an annuity form of distribution). Generally, the applicable
exclusion ratio is your investment in the contract divided by the total
payments you expect to receive based on IRS factors, such as the form of
annuity and mortality. The excludable portion of each Annuity Payment is the
return of investment in the contract and it is excludable from your taxable
income until your investment in the contract is fully recovered. We will make
this calculation for you. However, it is possible that the IRS could conclude
that the taxable portion of income payments under a Non-Qualified Contract is
an amount greater - or less -- than the taxable amount determined by us and
reported by us to you and the IRS.
Once you have recovered the investment in the contract, further Annuity
Payments are fully taxable.
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If you die before your investment in the contract is fully recovered, the
balance of your investment may be deducted on your last tax return, or if
Annuity Payments continue after your death, the balance may be recovered by
your Beneficiary.
The IRS has not furnished explicit guidance as to how the excludable amount is
to be determined each year under variable income annuities that permit
transfers between a fixed annuity option and variable investment options, as
well as transfers between investment options after the Annuity Starting Date.
Once Annuity Payments have commenced, you may not be able to transfer to
another Non-Qualified Contract or a long-term care contract as part of a
tax-free exchange.
If the contract allows, you may elect to convert less than the full value of
your contract to an annuity form of pay-out (i.e., "partial annuitization"). In
this case, your investment in the contract will be pro-rated between the
annuitized portion of the contract and the deferred portion. An exclusion ratio
will apply to the Annuity Payments as described above, provided the annuity
form you elect is payable for at least 10 years or for the life of one or more
individuals.
3.8% TAX ON NET INVESTMENT INCOME
Federal tax law imposes a 3.8% Medicare tax on the lesser of:
(1) the taxpayer's "net investment income," (from non-qualified
annuities, interest, dividends, and other investments, offset by
specified allowable deductions), or
(2) the taxpayer's modified adjusted gross income in excess of a specified
income threshold ($250,000 for married couples filing jointly and
qualifying widows, $125,000 for married couples filing separately, and
$200,000 for single filers).
"Net investment income" in Item 1 above does not include distributions from tax
qualified plans, (i.e., arrangements described in Code Sections 401(a), 403(a),
403(b), 408, 408A, or 457(b)), but such income will increase modified adjusted
gross income in Item 2 above.
You should consult your tax adviser regarding the applicability of this tax to
income under your annuity contract.
PUERTO RICO TAX CONSIDERATIONS
The Puerto Rico Internal Revenue Code of 2011 (the "2011 PR Code") taxes
distributions from Non-Qualified Contracts differently than in the U.S.
Distributions that are not in the form of an annuity (including partial
surrenders and period certain payments) are treated under the 2011 PR Code
first as a return of investment. Therefore, a substantial portion of the
amounts distributed generally will be excluded from gross income for Puerto
Rico tax purposes until the cumulative amount paid exceeds your tax basis.
The amount of income on annuity distributions in annuity form (payable over
your lifetime) is also calculated differently under the 2011 PR Code. Since the
U.S. source income generated by a Puerto Rico bona fide resident is subject to
U.S. income tax and the IRS issued guidance in 2004 which indicated that the
income from an annuity contract issued by a U.S. life insurer would be
considered U.S. source income, the timing of recognition of income from an
annuity contract could vary between the two jurisdictions. Although the 2011 PR
Code provides a credit against the Puerto Rico income tax for U.S. income taxes
paid, an individual may not get full credit because of the timing differences.
You should consult with a personal tax adviser regarding the tax consequences
of purchasing an annuity contract and/or any proposed distribution,
particularly a partial distribution or election to annuitize if you are a
resident of Puerto Rico.
QUALIFIED CONTRACTS
INTRODUCTION
The contract may be purchased through certain types of retirement plans that
receive favorable treatment under the Code ("tax qualified plans").
Tax-qualified plans include arrangements described in Code Sections 401(a),
401(k), 403(a), 403(b) or tax sheltered annuities (TSA), 408 or "IRAs"
(including SEP and SIMPLE IRAs), 408A or "Roth IRAs" or 457 (b) or 457(b)
governmental plans. Extensive special tax rules apply to qualified plans and to
the annuity contracts used in connection with these plans. Therefore, the
following discussion provides only general information about the use of the
contract with the various types of qualified plans. Adverse tax consequences
may result if you do not ensure that contributions, distributions and other
transactions with respect to the contract comply with the law.
41
The rights to any benefit under the plan will be subject to the terms and
conditions of the plan itself as well as the terms and conditions of the
contract.
We exercise no control over whether a particular retirement plan or a
particular contribution to the plan satisfies the applicable requirements of
the Code, or whether a particular individual is entitled to participate or
benefit under a plan.
All qualified plans and arrangements receive tax deferral under the Code. Since
there are no additional tax benefits in funding such retirement arrangements
with an annuity, there should be reasons other than tax deferral for acquiring
the annuity within the plan. Such non-tax benefits may include additional
insurance benefits, such as the availability of a guaranteed income for life.
A contract may also be available in connection with an employer's non-qualified
deferred compensation plan or qualified governmental excess benefit arrangement
to provide benefits to certain employees in the plan. The tax rules regarding
these plans are complex: please consult your tax adviser about your particular
situation.
ACCUMULATION
The tax rules applicable to qualified plans vary according to the type of plan
and the terms and conditions of the plan itself. Both the amount of the
contribution that may be made and the tax deduction or exclusion that you may
claim for that contribution under qualified plans are limited under the Code.
See the SAI for a description of qualified plan types and annual current
contribution limitations, which are subject to change from year-to-year.
Purchase payments or contributions to IRAs or tax qualified retirement plans of
an employer may be taken from current income on a before tax basis or after tax
basis. Purchase payments made on a "before tax" basis entitle you to a tax
deduction or are not subject to current income tax. Purchase payments made on
an "after tax" basis do not reduce your taxable income or give you a tax
deduction. Contributions may also consist of transfers or rollovers as
described below and are not subject to the annual limitations on contributions.
The contract will accept as a single Purchase Payment a transfer or rollover
from another IRA or rollover from an eligible retirement plan of an employer
(i.e., 401(a), 401(k), 403(a), 403(b), or governmental 457(b) plan). It will
also accept a rollover or transfer from a SIMPLE IRA after the taxpayer has
participated in such arrangement for at least two years. As part of the single
Purchase Payment, the IRA contract will also accept an IRA contribution subject
to the Code limits for the year of purchase.
For income annuities established as "pay-outs" of SIMPLE IRAs, the contract
will only accept a single Purchase Payment consisting of a transfer or rollover
from another SIMPLE IRA. For income annuities established in accordance with a
distribution option under a retirement plan of an employer (e.g., 401(a),
401(k), 403(a), 403(b), or 457(b) plan), the contract will only accept as its
single Purchase Payment a transfer from such employer retirement plan.
TAXATION OF ANNUITY DISTRIBUTIONS
If contributions are made on a "before tax" basis, you generally pay income
taxes on the full amount of money you receive under the contract. Withdrawals
attributable to any after-tax contributions are basis in the contract and not
subject to income tax (except for the portion of the withdrawal allocable to
earnings, if any).
Under current federal income tax rules, the taxable portion of distributions
under annuity contracts and qualified plans (including IRAs) is not eligible
for the reduced tax rate applicable to long-term capital gains and qualifying
dividends.
If you meet certain requirements, your Roth IRA, Roth 403(b) and Roth 401(k)
earnings can be received free of federal income taxes.
With respect to IRA contracts, we will withhold a portion of the taxable amount
of your withdrawal for income taxes, unless you elect otherwise. The amount we
will withhold is determined by the Code.
WITHDRAWALS PRIOR TO AGE 59 1/2
A taxable withdrawal from a qualified plan which is subject to income tax may
also be subject to a 10% federal income tax penalty for "early" distribution if
taken prior to age 59 1/2, unless an exception described below applies. The
penalty rate is 25% for SIMPLE plan contracts if the withdrawal occurs within
the first 2 years of your participation in the plan.
These exceptions include withdrawals made:
(a) on account of your death or disability, or
(b) as part of a series of substantially equal periodic payments payable for
your life (or life expectancy) or joint lives (or joint life
expectancies) of you and your
42
designated Beneficiary and you are separated from employment.
If you receive systematic payments that you intend to qualify for the
"substantially equal periodic payments" exception noted above, any
modifications (except due to death or disability) to your payment before age
59 1/2 or within five years after beginning these payments, whichever is later,
will result in the retroactive imposition of the 10% federal income tax penalty
with interest. Such modifications may include but are not limited to additional
Purchase Payments to the contract (including tax-free transfers or rollovers)
and additional withdrawals from the contract.
The 10% federal income tax penalty on early distribution does not apply to
governmental 457(b) plan contracts. However, it does apply to distributions
from 457(b) plans of employers which are state or local governments to the
extent that the distribution is attributable to rollovers accepted from other
types of eligible retirement plans.
A withdrawal or distribution from a Qualified Contract other than an IRA
(including SEPs and SIMPLEs) will avoid the penalty if: (1) the distribution is
on separation from employment after age 55; (2) the distribution is made
pursuant to a qualified domestic relations order (QDRO); (3) the distribution
is to pay deductible medical expenses; or (4) if the distribution is to pay IRS
levies (and made after December 31, 1999).
In addition to death, disability and as part of a series of substantially equal
periodic payments as indicated above, a withdrawal or distribution from an IRA
(including SEPs and SIMPLEs and Roth IRAs) will avoid the penalty: (1) if the
distribution is to pay deductible medical expenses; (2) if the distribution is
to pay IRS levies (and made after December 31, 1999); (3) if the distribution
is used to pay for medical insurance (if you are unemployed), qualified higher
education expenses, or for a qualified first time home purchase up to $10,000.
Other exceptions may be applicable under certain circumstances and special
rules apply or may become applicable in connection with the exceptions
enumerated above.
COMMUTATION FEATURES UNDER INCOME PAYMENT TYPES
Please be advised that the tax consequences resulting from the election of
income payment types containing a commutation feature (a feature that allows
the Owner to receive a lump sum of the present value of future Annuity
Payments) are uncertain and the IRS may determine that the taxable amount of
income payments and withdrawals received for any year could be greater than or
less than the taxable amount reported by us. The exercise of the commutation
feature also may result in adverse tax consequences including:
o The imposition of a 10% federal income tax penalty on the taxable amount of
the commuted value, if the taxpayer has not attained age 59 1/2 at the
time the withdrawal is made. This 10% federal income tax penalty is in
addition to the ordinary income tax on the taxable amount of the commuted
value.
o The retroactive imposition of the 10% federal income tax penalty on income
payments received prior to the taxpayer attaining age 59 1/2.
o The possibility that the exercise of the commutation feature could adversely
affect the amount excluded from federal income tax under any income
payments made after such commutation.
A payee should consult with his or her own tax adviser prior to electing to
annuitize the contract and prior to exercising any commutation feature under an
income payment type.
ROLLOVERS
Your contract is non-forfeitable (i.e., not subject to the claims of your
creditors) and non-transferable (i.e., you may not transfer it to someone
else).
Nevertheless, contracts held in certain employer plans subject to ERISA may be
transferred in part pursuant to a QDRO.
Under certain circumstances, you may be able to transfer amounts distributed
from your contract to another eligible retirement plan or IRA. For 457(b) plans
maintained by non-governmental employers, if certain conditions are met,
amounts may be transferred into another 457(b) plan maintained by a
non-governmental employer.
You may make rollovers and direct transfers into your SIMPLE IRA annuity
contract from another SIMPLE IRA annuity contract or account. Rollovers from
another qualified plan can generally be made to your SIMPLE IRA after you have
participated in the SIMPLE IRA for at least two years.
Rollovers and direct transfers from a SIMPLE IRA can only be made to another
SIMPLE IRA or account during the first two years that you participate in the
SIMPLE IRA
43
plan. After this two year period, rollovers and transfers may be made from your
SIMPLE IRA into a Traditional IRA or account, as well as into another SIMPLE
IRA.
Generally, a distribution may be eligible for rollover but certain types of
distributions cannot be rolled over, such as distributions received on account
of:
(a) minimum distribution requirements,
(b) financial hardship; or
(c) for a period of ten or more years or for life.
20% WITHHOLDING ON ELIGIBLE ROLLOVER DISTRIBUTIONS
For certain qualified employer plans, we are required to withhold 20% of the
taxable portion of your withdrawal that constitutes an "eligible rollover
distribution" for federal income taxes. The amount we withhold is determined by
the Code. You may avoid withholding if you directly transfer a withdrawal from
this contract to another qualified plan or IRA. Similarly, you may be able to
avoid withholding on a transfer into this contract from an existing qualified
plan you may have with another provider by arranging to have the transfer made
directly to us. For taxable withdrawals that are not "eligible rollover
distributions," the Code imposes different withholding rules to determine the
withholding percentage.
DEATH BENEFITS
The death benefit is taxable to the recipient in the same manner as if paid to
the contract Owner or plan participant (under the rules for withdrawals or
income payments, whichever is applicable).
Distributions required from a Qualified Contract following your death depend on
whether you die before you had converted your contract to an annuity form and
started taking Annuity Payments (your Annuity Starting Date).
If you die on or after your Annuity Starting Date, the remaining portion of the
interest in the contract must be distributed at least as rapidly as under the
method of distribution being used as of the date of death.
If you die before your Annuity Starting Date, the entire interest in the
contract must be distributed within five (5) years after the date of death, or
as periodic payments over a period not extending beyond the life or life
expectancy of the designated Beneficiary (provided such payments begin within
one year of your death).
Your designated Beneficiary is the person to whom benefit rights under the
contract pass by reason of death; the Beneficiary must be a natural person in
order to elect a periodic payment option based on life expectancy or a period
exceeding five years.
If the annuity is payable to (or for the benefit of) your surviving spouse,
that portion of the contract may be continued with your spouse as the Owner. If
your contract permits, your beneficiary spouse may delay the start of these
payments until December 31 of the year in which you would have reached age
70 1/2.
Alternatively, your spouse may be able to rollover the death proceeds into
another eligible retirement plan in which he or she participates, if permitted
under the receiving plan, he or she may elect to rollover the death proceeds
into his or her own IRA, or he or she may elect to transfer the death proceeds
into an inherited IRA.
If your Beneficiary is not your spouse and your plan and contract permit, your
Beneficiary may be able to rollover the death proceeds via a direct
trustee-to-trustee transfer into an inherited IRA. However, a non-spouse
Beneficiary may not treat the inherited IRA as his or her own IRA.
Additionally, for contracts issued in connection with qualified plans subject
to ERISA, the spouse or ex-spouse of the Owner may have rights in the contract.
In such a case, the Owner may need the consent of the spouse or ex-spouse to
change annuity options or make a withdrawal from the contract.
REQUIRED MINIMUM DISTRIBUTIONS
Generally, you must begin receiving amounts from your retirement plan by April
1 following the latter of:
(a) the calendar year in which you reach age 70 1/2, or
(b) the calendar year you retire, provided you do not own more than 5% of the
outstanding stock, capital, or profits of your employer.
For IRAs (including SEPs and SIMPLEs), you must begin receiving withdrawals by
April 1 of the year after you reach age 70 1/2 even if you have not retired.
A tax penalty of 50% applies to the shortfall of any required minimum
distribution you fail to receive.
You may not satisfy minimum distributions for one employer's qualified plan
(i.e., 401(a), 403(a), 457(b)) with distributions from another qualified plan
of the same or a different employer. However, an aggregation rule does
44
apply in the case of IRAs (including SEPs and SIMPLEs) or 403(b) plans. The
minimum required distribution is calculated with respect to each IRA, but the
aggregate distribution may be taken from any one or more of your IRAs/SEPs.
Similarly, the amount of required minimum distribution is calculated separately
with respect to each 403(b) arrangement, but the aggregate amount of the
required distribution may be taken from any one or more of your 403(b) plan
contracts. For SIMPLE IRAs, the aggregate amount of the required distribution
may be taken from any one or more of your SIMPLE IRAs.
Complex rules apply to the calculation of these withdrawals. In general, income
tax regulations permit income payments to increase based not only with respect
to the investment experience of the Investment Portfolios but also with respect
to actuarial gains.
The regulations also require that the value of benefits under a deferred
annuity including certain death benefits in excess of contract value must be
added to the amount credited to your account in computing the amount required
to be distributed over the applicable period. We will provide you with
additional information regarding the amount that is subject to minimum
distribution under this rule. You should consult your own tax adviser as to how
these rules affect your own distribution under this rule.
If you intend to receive your minimum distributions which are payable over the
joint lives of you and a Beneficiary who is not your spouse (or over a period
not exceeding the joint life expectancy of you and your non-spousal
Beneficiary), be advised that federal tax rules may require that payments be
made over a shorter period or may require that payments to the Beneficiary be
reduced after your death to meet the minimum distribution incidental benefit
rules and avoid the 50% excise tax. You should consult your own tax adviser as
to how these rules affect your own contract.
Required minimum distribution rules that apply to other types of IRAs while you
are alive do not apply to Roth IRAs. However, in general, the IRA post-death
rules with respect to minimum distributions apply to beneficiaries of Roth
IRAs.
ADDITIONAL INFORMATION REGARDING IRAS
PURCHASE PAYMENTS. Traditional IRA Purchase Payments (except for permissible
rollovers and direct transfers) are generally not permitted after you attain
age 70 1/2. Except for permissible rollovers and direct transfers, Purchase
Payments for individuals are limited in the aggregate to the lesser of 100% of
compensation or the deductible amount established each year under the Code. A
Purchase Payment up to the deductible amount can also be made for a non-working
spouse provided the couple's compensation is at least equal to their aggregate
contributions. Individuals age 50 and older are permitted to make additional
"catch-up" contributions if they have sufficient compensation. If you or your
spouse are an active participant in a retirement plan of an employer, your
deductible contributions may be limited. If you exceed Purchase Payment limits
you may be subject to a tax penalty.
Roth IRA Purchase Payments for individuals are non-deductible (made on an
"after tax" basis) and are limited to the lesser of 100% of compensation or the
annual deductible IRA amount. Individuals age 50 and older can make an
additional "catch-up" Purchase Payment each year (assuming the individual has
sufficient compensation). You may contribute up to the annual Purchase Payment
limit if your modified adjusted gross income does not exceed certain limits.
You can contribute to a Roth IRA after age 70 1/2. If you exceed Purchase
Payment limits, you may be subject to a tax penalty.
WITHDRAWALS. If and to the extent that Traditional IRA Purchase Payments are
made on an "after tax" basis, withdrawals would be included in income except
for the portion that represents a return of non-deductible Purchase Payments.
This portion is generally determined based upon the ratio of all non-deductible
Purchase Payments to the total value of all your Traditional IRAs (including
SEP IRAs and SIMPLE IRAs). We withhold a portion of the amount of your
withdrawal for income taxes, unless you elect otherwise. The amount we withhold
is determined by the Code.
Generally, withdrawal of earnings from Roth IRAs are free from federal income
tax if: (1) they are made at least five taxable years after the tax year for
which you made your first Purchase Payment to a Roth IRA; and (2) they are made
on or after the date you reach age 59 1/2 or upon your death, disability or for
a qualified first-home purchase (up to $10,000). Withdrawals from a Roth IRA
are made first from Purchase Payments and then from earnings. We may be
required to withhold a portion of your withdrawal for income taxes, unless you
elect otherwise. The amount will be determined by the Code.
45
CONVERSION. Traditional IRAs may be converted to Roth IRAs. Except to the
extent you have non-deductible contributions, the amount converted from an
existing Traditional IRA into a Roth IRA is taxable. Generally, the 10% federal
income tax penalty does not apply. However, the taxable amount to be converted
must be based on the fair market value of the entire annuity contract being
converted into a Roth IRA. Such fair market value, in general, is to be
determined by taking into account the value of all benefits in addition to the
Account Value; as well as adding back certain loads and charges incurred during
the prior twelve month period. Your contract may include such benefits and
applicable charges. Accordingly, if you are considering such conversion of your
annuity contract, please consult your tax adviser. The taxable amount may
exceed the Account Value at the date of conversion.
A Roth IRA contract may also be re-characterized as a Traditional IRA, if
certain conditions are met. Please consult your tax adviser.
DISTINCTION FOR PUERTO RICO CODE
An annuity contract may be purchased by an employer for an employee under a
qualified pension, profit sharing, stock bonus, annuity, or a "cash or
deferred" arrangement plan established pursuant to Section 1081.01 of the 2011
PR Code. To be tax qualified under the 2011 PR Code, a plan must comply with
the requirements of Section 1081.01(a) of the 2011 PR Code which includes
certain participation requirements, among other requirements. A trust created
to hold assets for a qualified plan is exempt from tax on its investment
income.
CONTRIBUTIONS. The employer is entitled to a current income tax deduction for
contributions made to a qualified plan, subject to statutory limitations on the
amount that may be contributed each year. The plan contributions by the
employer are not required to be included in the current income of the employee.
DISTRIBUTIONS. Any amount received or made available to the employee under the
qualified plan is includible in the gross income of the employee in the taxable
year in which received or made available. In such case, the amount paid or
contributed by the employer shall not constitute consideration paid by the
employee for the contract for purposes of determining the amount of Annuity
Payments required to be included in the employee's gross income. Thus, amounts
actually distributed or made available to any employee under the qualified plan
will be included in their entirety in the employee's gross income. The value of
accrued benefits in a qualified retirement plan with respect to which the
special 8% tax under Puerto Rico Act No. 77-2014 was prepaid will be considered
as part of the participant's tax basis in his retirement plan account. Thus,
any distributions attributable to the benefits for which such taxes were
prepaid will not be subject to income taxes when the same are subsequently
received by the participant. However, the investment income and the
appreciation in value, if any, accrued on the benefits with respect to which
the special tax was prepaid, will be taxed as provided by the tax rules in
effect at the time of distribution. Lump-sum proceeds from a Puerto Rico
qualified retirement plan due to separation from service will generally be
taxed at a 20% capital gain tax rate to be withheld at the source.A special
rate of 10% may apply instead, if the plan satisfies the following
requirements:
(1) the plan's trust is organized under the laws of Puerto Rico, or has a
Puerto Rico resident trustee and uses such trustee as paying agent; and
(2) 10% of all plan's trust assets (calculated based on the average balance of
the investments of the trust) attributable to participants who are
Puerto Rico residents must be invested in "property located in Puerto
Rico" for a three-year period.
If these two requirements are not satisfied, the distribution will generally be
subject to the 20% tax rate. The three-year period includes the year of the
distribution and the two immediately preceding years. In the case of a defined
contribution plan that maintains separate accounts for each participant, the
described 10% investment requirement may be satisfied in the accounts of a
participant that chooses to invest in such fashion rather than at the trust
level. Property located in Puerto Rico includes shares of stock of a Puerto
Rico registered investment company, fixed or variable annuities issued by a
domestic insurance company or by a foreign insurance corporation that derives
more than 80% of its gross income from sources within Puerto Rico, and bank
deposits. The PR 2011 Code does not impose a penalty tax in cases of early
(premature) distributions from a qualified plan.
You should consult with a personal tax adviser regarding the tax consequences
of purchasing an annuity contract and/or any proposed distribution if you are a
resident of Puerto Rico.
ROLLOVER. Deferral of the recognition of income continues upon the receipt of a
distribution by a participant from a
46
qualified plan, if the distribution is contributed to another qualified
retirement plan or traditional individual retirement account for the employee's
benefit no later than sixty (60) days after the distribution.
ERISA CONSIDERATIONS. In the context of a Puerto Rico qualified retirement plan
trust, the IRS has held that the transfer of assets and liabilities from a
qualified retirement plan trust under the Code to that type of plan would
generally be treated as a distribution includible in gross income for U.S.
income tax purposes even if the Puerto Rico retirement plan is a plan described
in ERISA Section 1022(i)(1). By contrast, a transfer from a qualified
retirement plan trust under the Code to a Puerto Rico qualified retirement plan
trust that has made an election under ERISA Section 1022(i)(2) is not treated
as a distribution from the transferor plan for U.S. income tax purposes because
a Puerto Rico retirement plan that has made an election under ERISA Section
1022(i)(2) is treated as a qualified retirement plan for purposes Code Section
401(a). The IRS has determined that the above described rules prescribing the
inclusion in income of transfers of assets and liabilities to a Puerto Rico
retirement plan trust described in ERISA Section 1022(i)(1) would be applicable
to transfers taking effect after December 31, 2012. Notwithstanding the above,
the IRS has recently held that a Puerto Rico retirement plan described in ERISA
Section 1022(i)(1) may participate in a 81-100 group trust because it permits
said plan to diversify its investments without adverse tax consequences to the
group trust or its investors.
Similar to the IRS in Revenue Ruling 2013-17, the U.S. Department of Labor
issued DOL Technical Release No. 2013-04 on September 18, 2013, providing that,
where the Secretary of Labor has authority to regulate with respect to the
provisions of ERISA dealing with the use of the term "spouse," spouse will be
read to refer to any individuals who are lawfully married under any state law,
including same-sex spouses, and without regard to whether their state of
domicile recognizes same-sex marriage. Thus, for ERISA purposes as well as
Federal tax purposes, an employee benefit plan participant who marries a person
of the same sex in a jurisdiction that recognizes same-sex marriage will
continue to be treated as married even if the couple moves to a jurisdiction
that does not recognize same-sex marriage.
10. OTHER INFORMATION
BRIGHTHOUSE LIFE INSURANCE COMPANY
Brighthouse Life Insurance Company (we or the Company) is a stock life
insurance company originally chartered in Connecticut in 1863 and currently
subject to the laws of the State of Delaware. The Company was previously known
as MetLife Insurance Company of Connecticut but changed its name to MetLife
Insurance Company USA when it changed its state of domicile from Connecticut to
Delaware on November 14, 2014. We changed our name to Brighthouse Life
Insurance Company on March 6, 2017. We are licensed to conduct business in all
states of the United States, except New York, and in the District of Columbia,
Puerto Rico, Guam, the U.S. and British Virgin Islands and the Bahamas. The
Company is a subsidiary of, and controlled by, MetLife, Inc. (MetLife), a
publicly-traded company (see "Planned Separation from MetLife, Inc." below).
MetLife, through its subsidiaries and affiliates, is a leading provider of
insurance and financial services to individuals and institutional customers.
Our executive offices are located at 11225 North Community House Road,
Charlotte, NC 28277.
PLANNED SEPARATION FROM METLIFE, INC. In January 2016, MetLife announced its
plan to pursue the separation of a substantial portion of its U.S. retail
business. In preparation for the planned separation, in August 2016 MetLife
formed a new, wholly-owned Delaware holding company, Brighthouse Financial,
Inc. (Brighthouse Financial), which filed a registration statement on Form 10
(the Form 10) with the U.S. Securities and Exchange Commission (the SEC) in
October 2016, as amended in December 2016, reflecting MetLife's current
initiative to conduct the separation in the form of a spin-off. To effect the
separation, first, MetLife expects to undertake the restructuring described in
more detail in the Form 10. The restructuring would result in future
Brighthouse Financial subsidiaries, including the Company, being wholly-owned
subsidiaries of Brighthouse Financial. Following the restructuring, MetLife,
Inc. would distribute at least 80.1% of Brighthouse Financial's common stock to
MetLife's shareholders (the Distribution), and Brighthouse Financial would
become a separate, publicly traded company. The separation remains subject to
certain conditions including, among others, obtaining final approval from the
MetLife board of directors, receipt of a favorable IRS ruling and an opinion
from MetLife's tax advisor regarding certain U.S. federal income tax matters,
receipt of the approval of state insurance and other regulatory authorities and
an SEC
47
declaration of the effectiveness of the Form 10. Following the Distribution, if
it occurs, the Company will be a wholly-owned subsidiary of, and ultimately
controlled by, Brighthouse Financial. MetLife currently plans to dispose of its
remaining shares of Brighthouse Financial common stock as soon as practicable
following the Distribution, but in no event later than five years after the
Distribution. For more information about Brighthouse Financial and the
Distribution, please see the most recent amendment to Brighthouse Financial's
Form 10 (SEC File No. 001-37905), available via the SEC's EDGAR system on its
website at https://www.sec.gov/edgar/searchedgar/
companysearch.html. No assurances can be given regarding the final form the
Distribution (or any alternative separation transaction) may take or the
specific terms thereof, or that the Distribution (or any other form of
separation) will in fact occur. However, any separation transaction will not
affect the terms or conditions of your variable contract. The Company will
remain fully responsible for its contractual obligations to variable contract
owners, and you should carefully consider the potential impact of any
separation transaction that may occur on the the Company's financial strength
and claims-paying ability.
THE SEPARATE ACCOUNT
We have established a Separate Account, Brighthouse Separate Account A
(Separate Account), to hold the assets that underlie the contracts. Prior to
March 6, 2017, the Separate Account was known as MetLife Investors USA Separate
Account A. The Board of Directors of MetLife Investors USA Insurance Company
(MetLife Investors) adopted a resolution to establish the Separate Account
under Delaware insurance law on May 29, 1980. On November 14, 2014, following
the close of business MetLife Investors merged into Brighthouse (formerly known
as MetLife Insurance Company USA) and the Separate Account became a separate
account of Brighthouse. We have registered the Separate Account with the SEC as
a unit investment trust under the Investment Company Act of 1940. The Separate
Account is divided into subaccounts.
The Separate Account's assets are solely for the benefit of those who invest in
the Separate Account and no one else, including our creditors. The assets of
the Separate Account are held in our name on behalf of the Separate Account and
legally belong to us. All the income, gains and losses (realized or unrealized)
resulting from these assets are credited to or charged against the contracts
issued from this Separate Account without regard to our other business.
We reserve the right to transfer assets of the Separate Account to another
account, and to modify the structure or operation of the Separate Account,
subject to necessary regulatory approvals. If we do so, we will notify you of
any such changes and we guarantee that the modification will not affect your
Account Value.
We are obligated to pay all money we owe under the contracts -- such as death
benefits and income payments -- even if that amount exceeds the assets in the
Separate Account. Any such amount that exceeds the assets in the Separate
Account is paid from our general account. Any amount under any optional death
benefit or optional Guaranteed Withdrawal Benefit that exceeds the assets in
the Separate Account is also paid from our general account. Benefit amounts
paid from the general account are subject to our financial strength and claims
paying ability and our long term ability to make such payments. We issue other
annuity contracts and life insurance policies where we pay all money we owe
under those contracts and policies from our general account. Brighthouse is
regulated as an insurance company under state law, which generally includes
limits on the amount and type of investments in our general account. However,
there is no guarantee that we will be able to meet our claims paying
obligations; there are risks to purchasing any insurance product.
The investment advisers to certain of the Investment Portfolios offered with
the contracts or with other variable annuity contracts issued through the
Separate Account may be regulated as Commodity Pool Operators. While it does
not concede that the Separate Account is a commodity pool, Brighthouse has
claimed an exclusion from the definition of the term "commodity pool operator"
under the Commodities Exchange Act (CEA), and is not subject to registration or
regulation as a pool operator under the CEA.
DISTRIBUTOR
We have entered into a distribution agreement with our affiliate, Brighthouse
Securities, LLC (Distributor), 11225 North Community House Road, Charlotte, NC
28277, for the distribution of the contracts. Prior to March 6, 2017, the
distributor of the contracts was MetLife Investors Distribution Company.
Distributor is a member of the Financial Industry Regulatory Authority (FINRA).
FINRA provides background information about broker-dealers and their registered
representatives through FINRA
48
BrokerCheck. You may contact the FINRA BrokerCheck Hotline at 1-800-289-9999,
or log on to www.finra.org. An investor brochure that includes information
describing FINRA BrokerCheck is available through the Hotline or on-line.
Distributor, and in certain cases, we, have entered into selling agreements
with other selling firms for the sale of the contracts. We pay compensation to
Distributor for sales of the contracts by selling firms. We also pay amounts to
Distributor that may be used for its operating and other expenses, including
sales distribution expenses.
All of the Investment Portfolios make payments to Distributor under their
distribution plans in consideration of services provided and expenses incurred
by Distributor in distributing shares of the Investment Portfolios. (See the
Investment Portfolio prospectuses for more information.) These payments range
up to 0.55% of Separate Account assets invested in the particular Investment
Portfolio.
SELLING FIRMS
As noted above, Distributor, and in certain cases, we, have entered into
selling agreements with selling firms for the sale of the contracts. All
selling firms receive commissions, and they may also receive some form of
non-cash compensation. Certain selected selling firms receive additional
compensation (described below under "Additional Compensation for Selected
Selling Firms"). These commissions and other incentives or payments are not
charged directly to contract Owners or the Separate Account. We intend to
recoup commissions and other sales expenses through fees and charges deducted
under the contract or from our general account. A portion of the payments made
to selling firms may be passed on to their sales representatives in accordance
with the selling firms' internal compensation programs. Those programs may also
include other types of cash and non-cash compensation and other benefits.
Registered representatives of the selling firms may also receive non-cash
compensation, pursuant to their firm's guidelines, directly from us or
Distributor.
COMPENSATION PAID TO SELLING FIRMS. We and Distributor pay compensation to all
selling firms in the form of commissions and may also provide certain types of
non-cash compensation. The maximum commission payable for contract sales and
additional Purchase Payments by selling firms is 5.25% of Purchase Payments.
Some selling firms may elect to receive a lower commission when a Purchase
Payment is made, along with annual trail commissions beginning in year two up
to 1.00% of Account Value (less Purchase Payments received within the previous
12 months) for so long as the contract remains in effect or as agreed in the
selling agreement. We also pay commissions when a contract Owner elects to
begin receiving regular income payments (referred to as "Annuity Payments").
(See "Annuity Payments (The Income Phase).") Distributor may also provide
non-cash compensation items that we may provide jointly with Distributor.
Non-cash items may include expenses for conference or seminar trips, certain
gifts, prizes, and awards.
Ask your registered representative for further information about what payments
your registered representative and the selling firm for which he or she works
may receive in connection with your purchase of a contract.
ADDITIONAL COMPENSATION FOR SELECTED SELLING FIRMS. We and Distributor have
entered into distribution arrangements with certain selected unaffiliated
selling firms. Under these arrangements we and Distributor may pay additional
compensation to selected selling firms, including marketing allowances,
introduction fees, persistency payments, preferred status fees and industry
conference fees. Marketing allowances are periodic payments to certain selling
firms, the amount of which depends on cumulative periodic (usually quarterly)
sales of our insurance contracts (including the contracts offered by this
prospectus) and may also depend on meeting thresholds in the sale of certain of
our insurance contracts (other than the contracts offered by this prospectus).
They may also include payments we make to cover the cost of marketing or other
support services provided for or by registered representatives who may sell our
products. Introduction fees are payments to selling firms in connection with
the addition of our products to the selling firm's line of investment products,
including expenses relating to establishing the data communications systems
necessary for the selling firm to offer, sell and administer our products.
Persistency payments are periodic payments based on Account Values of our
variable insurance contracts (including Account Values of the contracts) or
other persistency standards. Preferred status fees are paid to obtain preferred
treatment of the contracts in selling firms' marketing programs, which may
include marketing services, participation in marketing meetings, listings in
data resources and increased access to their sales representatives. Industry
conference fees are amounts paid to cover in part the costs associated with
sales conferences and educational seminars for selling firms' sales
49
representatives. We and Distributor have entered into such distribution
agreements with the selling firms identified in the Statement of Additional
Information.
The additional types of compensation discussed above are not offered to all
selling firms. The terms of any particular agreement governing compensation may
vary among selling firms and the amounts may be significant. The prospect of
receiving, or the receipt of, additional compensation as described above may
provide selling firms and/or their sales representatives with an incentive to
favor sales of the contracts over other variable annuity contracts (or other
investments) with respect to which selling firm does not receive additional
compensation, or lower levels of additional compensation. You may wish to take
such payment arrangements into account when considering and evaluating any
recommendation relating to the contracts. For more information about any such
additional compensation arrangements, ask your registered representative. (See
the Statement of Additional Information -- "Distribution" for a list of selling
firms that received compensation during 2016, as well as the range of
additional compensation paid.)
REQUESTS AND ELECTIONS
We will treat your request for a contract transaction, or your submission of a
Purchase Payment, as received by us if we receive a request conforming to our
administrative procedures or a payment at our Annuity Service Center before the
close of regular trading on the New York Stock Exchange on that day. We will
treat your submission of a Purchase Payment as received by us if we receive a
payment at our Annuity Service Center (or a designee receives a payment in
accordance with the designee's administrative procedures) before the close of
regular trading on the New York Stock Exchange on that day. If we receive the
request, or if we (or our designee) receive the payment, after the close of
trading on the New York Stock Exchange on that day, or if the New York Stock
Exchange is not open that day, then the request or payment will be treated as
received on the next day when the New York Stock Exchange is open. Our Annuity
Service Center is located at P.O. Box 10366, Des Moines, IA 50306-0366. If you
send your Purchase Payments or transaction requests to an address other than
the one we have designated for receipt of such Purchase Payments or requests,
we may return the Purchase Payment to you, or there may be a delay in applying
the Purchase Payment or transaction to your contract.
Requests for service may be made:
o Through your registered representative
o By telephone at (800) 343-8496, between the hours of 7:30AM and 5:30PM
Central Time Monday through Thursday and 7:30AM and 5:00PM Central Time on
Friday
o In writing to our Annuity Service Center
o By fax at (877) 547-9666 or
o By Internet at www.brighthousefinancial.com
Some of the requests for service that may be made by telephone or Internet
include transfers of Account Value (see "Investment Options - Transfers -
Transfers By Telephone or Other Means") and changes to the allocation of future
Purchase Payments (see "Purchase - Allocation of Purchase Payments"). We may
from time to time permit requests for other types of transactions to be made by
telephone or Internet. All transaction requests must be in Good Order. Contact
us for further information. Some selling firms may restrict the ability of
their registered representatives to convey transaction requests by telephone or
Internet on your behalf.
We will use reasonable procedures such as requiring certain identifying
information, tape recording the telephone instructions, and providing written
confirmation of the transaction, in order to confirm that instructions
communicated by telephone, fax, Internet or other means are genuine. Any
telephone, fax or Internet instructions reasonably believed by us to be genuine
will be your responsibility, including losses arising from any errors in the
communication of instructions. As a result of this policy, you will bear the
risk of loss. If we do not employ reasonable procedures to confirm that
instructions communicated by telephone, fax or Internet are genuine, we may be
liable for any losses due to unauthorized or fraudulent transactions. All other
requests and elections under your contract must be in writing signed by the
proper party, must include any necessary documentation and must be received at
our Annuity Service Center to be effective. If acceptable to us, requests or
elections relating to Beneficiaries and Ownership will take effect as of the
date signed unless we have already acted in reliance on the prior status. We
are not responsible for the validity of any written request or action.
GOOD ORDER. A request or transaction generally is considered in Good Order if
it complies with our administrative procedures and the required information is
50
complete and accurate. A request or transaction may be rejected or delayed if
not in Good Order. Good Order generally means the actual receipt by us of the
instructions relating to the requested transaction in writing (or, when
permitted, by telephone or Internet as described above) along with all forms,
information and supporting legal documentation necessary to effect the
transaction. This information and documentation generally includes to the
extent applicable to the transaction: your completed application; your contract
number; the transaction amount (in dollars or percentage terms); the names and
allocations to and/or from the Investment Portfolios affected by the requested
transaction; the signatures of all contract Owners (exactly as indicated on the
contract), if necessary; Social Security Number or Tax I.D.; and any other
information or supporting documentation that we may require, including any
spousal or Joint Owner's consents. With respect to Purchase Payments, Good
Order also generally includes receipt by us of sufficient funds to effect the
purchase. We may, in our sole discretion, determine whether any particular
transaction request is in Good Order, and we reserve the right to change or
waive any Good Order requirement at any time. If you have any questions, you
should contact us or your registered representative before submitting the form
or request.
TELEPHONE AND COMPUTER SYSTEMS. Telephone and computer systems may not always
be available. Any telephone or computer system, whether it is yours, your
service provider's, your agent's, or ours, can experience outages or slowdowns
for a variety of reasons. These outages or slowdowns may delay or prevent our
processing of your request. Although we have taken precautions to help our
systems handle heavy use, we cannot promise complete reliability under all
circumstances. If you experience technical difficulties or problems, you should
make your transaction request in writing to our Annuity Service Center.
CYBERSECURITY. Our variable annuity contract business is largely conducted
through digital communications and data storage networks and systems operated
by us and our service providers or other business partners (e.g., the
Investment Portfolios and the firms involved in the distribution and sale of
our variable annuity contracts). For example, many routine operations, such as
processing Owners' requests and elections and day-to-day recordkeeping, are all
executed through computer networks and systems.
We have established administrative and technical controls and a business
continuity plan to protect our operations against cybersecurity breaches.
Despite these protocols, a cybersecurity breach could have a material, negative
impact on Brighthouse and the Separate Account, as well as individual Owners
and their contracts. Our operations also could be negatively affected by a
cybersecurity breach at a third party, such as a governmental or regulatory
authority or another participant in the financial markets.
Cybersecurity breaches can be intentional or unintentional events, and can
occur through unauthorized access to computer systems, networks or devices;
infection from computer viruses or other malicious software code; or attacks
that shut down, disable, slow or otherwise disrupt operations, business
processes or website access or functionality. Cybersecurity breaches can
interfere with our processing of contract transactions, including the
processing of transfer orders from our website or with the Investment
Portfolios; impact our ability to calculate Accumulation Unit values; cause the
release and possible destruction of confidential Owner or business information;
or impede order processing or cause other operational issues. Although we
continually make efforts to identify and reduce our exposure to cybersecurity
risk, there is no guarantee that we will be able to successfully manage this
risk at all times.
CONFIRMING TRANSACTIONS. We will send out written statements confirming that a
transaction was recently completed. Unless you inform us of any errors within
60 days of receipt, we will consider these communications to be accurate and
complete.
OWNERSHIP
OWNER. You, as the Owner of the contract, have all the interest and rights
under the contract.
These rights include the right to:
o change the Beneficiary.
o change the Annuitant before the Annuity Date (subject to our underwriting
and administrative rules).
o assign the contract (subject to limitation).
o change the payment option.
o exercise all other rights, benefits, options and privileges allowed by the
contract or us.
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The Owner is as designated at the time the contract is issued, unless changed.
Any change of Owner is subject to our underwriting rules in effect at the time
of the request.
JOINT OWNER. The contract can be owned by Joint Owners, limited to two natural
persons. Upon the death of either Owner, the surviving Owner will be the
primary Beneficiary. Any other Beneficiary designation will be treated as a
contingent Beneficiary unless otherwise indicated.
BENEFICIARY. The Beneficiary is the person(s) or entity you name to receive any
death benefit. The Beneficiary is named at the time the contract is issued
unless changed at a later date. Unless an irrevocable Beneficiary has been
named, you can change the Beneficiary at any time before you die. If Joint
Owners are named, unless you tell us otherwise, the surviving Joint Owner will
be the primary Beneficiary. Any other Beneficiary designation will be treated
as a contingent Beneficiary (unless you tell us otherwise).
ABANDONED PROPERTY REQUIREMENTS. Every state has unclaimed property laws which
generally declare non-ERISA annuity contracts to be abandoned after a period of
inactivity of three to five years from the contract's maturity date (the latest
day on which annuity payments may begin under the contract) or the date the
death benefit is due and payable. For example, if the payment of a death
benefit has been triggered, but, if after a thorough search, we are still
unable to locate the Beneficiary of the death benefit, or the Beneficiary does
not come forward to claim the death benefit in a timely manner, the death
benefit will be paid to the abandoned property division or unclaimed property
office of the state in which the Beneficiary or the Owner last resided, as
shown on our books and records, or to our state of domicile. (Escheatment is
the formal, legal name for this process.) However, the state is obligated to
pay the death benefit (without interest) if your Beneficiary steps forward to
claim it with the proper documentation. To prevent your contract's proceeds
from being paid to the state's abandoned or unclaimed property office, it is
important that you update your Beneficiary designations, including addresses,
if and as they change. Please call (800) 343-8496 to make such changes.
ANNUITANT. The Annuitant is the natural person(s) on whose life we base Annuity
Payments. You can change the Annuitant at any time prior to the Annuity Date,
unless an Owner is not a natural person. Any reference to Annuitant includes
any joint Annuitant under an Annuity Option. The Owner and the Annuitant do not
have to be the same person except as required under certain sections of the
Internal Revenue Code.
ASSIGNMENT. You can assign a Non-Qualified Contract at any time during your
lifetime. We will not be bound by the assignment until the written notice of
the assignment is recorded by us. We will not be liable for any payment or
other action we take in accordance with the contract before we record the
assignment. AN ASSIGNMENT MAY BE A TAXABLE EVENT.
If the contract is issued pursuant to a qualified plan, there may be
limitations on your ability to assign the contract.
LEGAL PROCEEDINGS
In the ordinary course of business, Brighthouse, similar to other life
insurance companies, is involved in lawsuits (including class action lawsuits),
arbitrations and other legal proceedings. Also, from time to time, state and
federal regulators or other officials conduct formal and informal examinations
or undertake other actions dealing with various aspects of the financial
services and insurance industries. In some legal proceedings involving
insurers, substantial damages have been sought and/or material settlement
payments have been made.
It is not possible to predict with certainty the ultimate outcome of any
pending legal proceeding or regulatory action. However, Brighthouse does not
believe any such action or proceeding will have a material adverse effect upon
the Separate Account or upon the ability of Brighthouse Securities, LLC to
perform its contract with the Separate Account or of Brighthouse to meet its
obligations under the contracts.
FINANCIAL STATEMENTS
Our financial statements and the financial statements of the Separate Account
have been included in the SAI.
52
TABLE OF CONTENTS OF THE STATEMENT OF ADDITIONAL INFORMATION
Company
Independent Registered Public Accounting Firm
Custodian
Distribution
Reduction or Elimination of the Withdrawal Charge
Calculation of Performance Information
Total Return
Historical Unit Values
Reporting Agencies
Annuity Provisions
Variable Annuity
Fixed Annuity
Mortality and Expense Guarantee
Legal or Regulatory Restrictions on Transactions
Additional Federal Tax Considerations
Financial Statements
53
APPENDIX A
CONDENSED FINANCIAL INFORMATION
The following tables list the Condensed Financial Information (the Accumulation
Unit value information for the Accumulation Units outstanding) for contracts
issued as of December 31, 2016. See "Purchase -- Accumulation Units" in the
prospectus for information on how Accumulation Unit values are calculated. The
first table presents Accumulation Unit values for the highest possible
combination of Separate Account product charges and death benefit rider
charges, and the second table presents Accumulation Unit values for the lowest
possible combination of such charges. The Statement of Additional Information
(SAI) contains the Accumulation Unit values for all other possible combinations
of Separate Account product charges and death benefit rider charges. (See Page
2 for how to obtain a copy of the SAI.)
1.60% SEPARATE ACCOUNT PRODUCT CHARGES
----------------------------------------------------------------------------------------------------------
ACCUMULATION
UNIT VALUE AT
BEGINNING OF
PERIOD
AMERICAN FUNDS INSURANCE SERIES(R)
AMERICAN FUNDS GLOBAL SMALL CAPITALIZATION SUB-ACCOUNT (CLASS 4)
11/19/2014 to 12/31/2014 12.763933
01/01/2015 to 12/31/2015 12.979854
01/01/2016 to 12/31/2016 12.771339
------------------------------------------------------------------------------------------ ---------
BLACKROCK VARIABLE SERIES FUNDS, INC.
BLACKROCK GLOBAL ALLOCATION V.I. SUB-ACCOUNT (CLASS III)
11/19/2014 to 12/31/2014 20.354725
01/01/2015 to 12/31/2015 20.151055
01/01/2016 to 12/31/2016 19.632656
------------------------------------------------------------------------------------------ ---------
IVY VARIABLE INSURANCE PORTFOLIOS
IVY VIP ASSET STRATEGY SUB-ACCOUNT (FORMERLY IVY FUNDS VIP ASSET STRATEGY SUB-ACCOUNT)
11/19/2014 to 12/31/2014 16.237039
01/01/2015 to 12/31/2015 15.868675
01/01/2016 to 12/31/2016 14.313288
------------------------------------------------------------------------------------------ ---------
LEGG MASON PARTNERS VARIABLE EQUITY TRUST
ENTRUSTPERMAL ALTERNATIVE SELECT VIT SUB-ACCOUNT (CLASS II) (FORMERLY PERMAL ALTERNATIVE SELECT VIT
SUB-ACCOUNT (CLASS II))
11/19/2014 to 12/31/2014 10.070553
01/01/2015 to 12/31/2015 10.005983
01/01/2016 to 12/31/2016 9.416326
------------------------------------------------------------------------------------------ ---------
MET INVESTORS SERIES TRUST
AB GLOBAL DYNAMIC ALLOCATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.121577
01/01/2015 to 12/31/2015 12.171233
01/01/2016 to 12/31/2016 12.047422
------------------------------------------------------------------------------------------ ---------
ALLIANZ GLOBAL INVESTORS DYNAMIC MULTI-ASSET PLUS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.478950
01/01/2015 to 12/31/2015 10.531039
01/01/2016 to 12/31/2016 10.261931
------------------------------------------------------------------------------------------ ---------
AMERICAN FUNDS(R) BALANCED ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 12.958801
01/01/2015 to 12/31/2015 12.887037
01/01/2016 to 12/31/2016 12.593002
------------------------------------------------------------------------------------------ ---------
NUMBER OF
ACCUMULATION ACCUMULATION
UNIT VALUE AT UNITS
END OF OUTSTANDING AT
PERIOD END OF PERIOD
AMERICAN FUNDS INSURANCE SERIES(R)
AMERICAN FUNDS GLOBAL SMALL CAPITALIZATION SUB-ACCOUNT (CLASS 4)
11/19/2014 to 12/31/2014 12.979854 0.0000
01/01/2015 to 12/31/2015 12.771339 5,348.2647
01/01/2016 to 12/31/2016 12.800869 5,968.1239
------------------------------------------------------------------------------------------ --------- ----------
BLACKROCK VARIABLE SERIES FUNDS, INC.
BLACKROCK GLOBAL ALLOCATION V.I. SUB-ACCOUNT (CLASS III)
11/19/2014 to 12/31/2014 20.151055 0.0000
01/01/2015 to 12/31/2015 19.632656 18,377.5720
01/01/2016 to 12/31/2016 20.056215 21,018.6903
------------------------------------------------------------------------------------------ --------- -----------
IVY VARIABLE INSURANCE PORTFOLIOS
IVY VIP ASSET STRATEGY SUB-ACCOUNT (FORMERLY IVY FUNDS VIP ASSET STRATEGY SUB-ACCOUNT)
11/19/2014 to 12/31/2014 15.868675 0.0000
01/01/2015 to 12/31/2015 14.313288 2,515.6274
01/01/2016 to 12/31/2016 13.724327 1,252.2392
------------------------------------------------------------------------------------------ --------- -----------
LEGG MASON PARTNERS VARIABLE EQUITY TRUST
ENTRUSTPERMAL ALTERNATIVE SELECT VIT SUB-ACCOUNT (CLASS II) (FORMERLY PERMAL ALTERNATIVE SELECT VIT SUB-ACCOUNT (CLASS II))
11/19/2014 to 12/31/2014 10.005983 13,897.5246
01/01/2015 to 12/31/2015 9.416326 135,180.4052
01/01/2016 to 12/31/2016 9.023950 149,639.6006
------------------------------------------------------------------------------------------ --------- ------------
MET INVESTORS SERIES TRUST
AB GLOBAL DYNAMIC ALLOCATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.171233 0.0000
01/01/2015 to 12/31/2015 12.047422 2,387.6377
01/01/2016 to 12/31/2016 12.282548 2,468.0754
------------------------------------------------------------------------------------------ --------- ------------
ALLIANZ GLOBAL INVESTORS DYNAMIC MULTI-ASSET PLUS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.531039 0.0000
01/01/2015 to 12/31/2015 10.261931 0.0000
01/01/2016 to 12/31/2016 10.300519 0.0000
------------------------------------------------------------------------------------------ --------- ------------
AMERICAN FUNDS(R) BALANCED ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 12.887037 0.0000
01/01/2015 to 12/31/2015 12.593002 8,765.3613
01/01/2016 to 12/31/2016 13.361005 26,314.5846
------------------------------------------------------------------------------------------ --------- ------------
A-1
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.60% SEPARATE ACCOUNT PRODUCT CHARGES
--------------------------------------------------------------------------------
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
AMERICAN FUNDS(R) GROWTH ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 13.037813 12.926295 0.0000
01/01/2015 to 12/31/2015 12.926295 12.624971 6,169.8719
01/01/2016 to 12/31/2016 12.624971 13.537668 5,629.9630
-------------------------- --------- --------- ----------
AMERICAN FUNDS(R) GROWTH SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 13.486528 13.504638 0.0000
01/01/2015 to 12/31/2015 13.504638 14.153010 15,313.1862
01/01/2016 to 12/31/2016 14.153010 15.195759 15,212.8345
-------------------------- --------- --------- -----------
AMERICAN FUNDS(R) MODERATE ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 12.693985 12.646648 0.0000
01/01/2015 to 12/31/2015 12.646648 12.355551 4,110.9127
01/01/2016 to 12/31/2016 12.355551 13.012197 6,163.6493
-------------------------- --------- --------- -----------
AQR GLOBAL RISK BALANCED SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 11.572621 11.211254 385.3032
01/01/2015 to 12/31/2015 11.211254 9.977033 1,726.1708
01/01/2016 to 12/31/2016 9.977033 10.698538 2,402.9552
-------------------------- --------- --------- -----------
BLACKROCK GLOBAL TACTICAL STRATEGIES SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 11.676693 11.612740 0.0000
01/01/2015 to 12/31/2015 11.612740 11.415986 4,001.1153
01/01/2016 to 12/31/2016 11.415986 11.732651 3,421.1746
-------------------------- --------- --------- -----------
BLACKROCK HIGH YIELD SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 25.886650 25.494051 51.1638
01/01/2015 to 12/31/2015 25.494051 24.073973 7,915.9243
01/01/2016 to 12/31/2016 24.073973 27.003572 8,251.0283
-------------------------- --------- --------- -----------
CLARION GLOBAL REAL ESTATE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 18.180184 18.414936 145.0816
01/01/2015 to 12/31/2015 18.414936 17.868635 7,272.6481
01/01/2016 to 12/31/2016 17.868635 17.738721 6,320.2576
-------------------------- --------- --------- -----------
CLEARBRIDGE AGGRESSIVE GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 14.622624 14.718432 0.0000
01/01/2015 to 12/31/2015 14.718432 13.900119 11,099.7795
01/01/2016 to 12/31/2016 13.900119 14.046167 18,263.4104
-------------------------- --------- --------- -----------
GOLDMAN SACHS MID CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 23.428924 23.884333 0.0000
01/01/2015 to 12/31/2015 23.884333 21.361815 2,274.6226
01/01/2016 to 12/31/2016 21.361815 23.794257 2,997.7995
-------------------------- --------- --------- -----------
HARRIS OAKMARK INTERNATIONAL SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 25.168794 25.026579 20.4731
01/01/2015 to 12/31/2015 25.026579 23.515569 5,262.9176
01/01/2016 to 12/31/2016 23.515569 25.034826 6,703.6442
-------------------------- --------- --------- -----------
INVESCO BALANCED-RISK ALLOCATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.890990 10.953310 0.0000
01/01/2015 to 12/31/2015 10.953310 10.326172 2,882.7010
01/01/2016 to 12/31/2016 10.326172 11.352955 624.8981
-------------------------- --------- --------- -----------
INVESCO COMSTOCK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 16.467153 16.489277 0.0000
01/01/2015 to 12/31/2015 16.489277 15.258589 1,775.1033
01/01/2016 to 12/31/2016 15.258589 17.613935 5,879.4574
-------------------------- --------- --------- -----------
A-2
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.60% SEPARATE ACCOUNT PRODUCT CHARGES
--------------------------------------------------------------------------------
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
INVESCO MID CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 36.650978 36.934034 0.0000
01/01/2015 to 12/31/2015 36.934034 33.083227 2,814.0626
01/01/2016 to 12/31/2016 33.083227 37.605994 4,776.8282
-------------------------- --------- --------- ----------
INVESCO SMALL CAP GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 25.433113 25.907175 0.0000
01/01/2015 to 12/31/2015 25.907175 25.060028 423.6387
01/01/2016 to 12/31/2016 25.060028 27.482317 354.3092
-------------------------- --------- --------- ----------
JPMORGAN CORE BOND SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 9.845980 9.894153 441.5162
01/01/2015 to 12/31/2015 9.894153 9.784133 15,360.5131
01/01/2016 to 12/31/2016 9.784133 9.843550 30,078.3448
-------------------------- --------- --------- -----------
JPMORGAN GLOBAL ACTIVE ALLOCATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.067686 12.055654 0.0000
01/01/2015 to 12/31/2015 12.055654 11.970397 1,512.5586
01/01/2016 to 12/31/2016 11.970397 12.122380 4,941.6822
-------------------------- --------- --------- -----------
JPMORGAN SMALL CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 18.714610 19.552085 0.0000
01/01/2015 to 12/31/2015 19.552085 17.811427 875.7887
01/01/2016 to 12/31/2016 17.811427 22.876331 1,164.2825
-------------------------- --------- --------- -----------
LOOMIS SAYLES GLOBAL MARKETS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 17.121415 16.920571 0.0000
01/01/2015 to 12/31/2015 16.920571 16.856430 0.0000
01/01/2016 to 12/31/2016 16.856430 17.381356 0.0000
-------------------------- --------- --------- -----------
MET/ABERDEEN EMERGING MARKETS EQUITY SUB-ACCOUNT (CLASS B) (FORMERLY MFS(R)
EMERGING MARKETS EQUITY SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 10.555718 10.031014 0.0000
01/01/2015 to 12/31/2015 10.031014 8.508166 4,201.9588
01/01/2016 to 12/31/2016 8.508166 9.336207 3,572.5746
-------------------------- --------- --------- -----------
MET/ARTISAN INTERNATIONAL SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.119140 9.922431 0.0000
01/01/2015 to 12/31/2015 9.922431 9.424133 2,761.3402
01/01/2016 to 12/31/2016 9.424133 8.414417 2,997.0770
-------------------------- --------- --------- -----------
MET/EATON VANCE FLOATING RATE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 11.072203 10.966157 79.2015
01/01/2015 to 12/31/2015 10.966157 10.701976 10,556.8280
01/01/2016 to 12/31/2016 10.701976 11.508315 13,518.2956
-------------------------- --------- --------- -----------
MET/FRANKLIN LOW DURATION TOTAL RETURN SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 9.949522 9.921220 438.6469
01/01/2015 to 12/31/2015 9.921220 9.702965 8,151.2906
01/01/2016 to 12/31/2016 9.702965 9.848164 12,996.0290
-------------------------- --------- --------- -----------
MET/TEMPLETON INTERNATIONAL BOND SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 13.597209 13.276865 65.0461
01/01/2015 to 12/31/2015 13.276865 12.522582 7,952.8463
01/01/2016 to 12/31/2016 12.522582 12.431603 7,866.0246
-------------------------- --------- --------- -----------
MET/WELLINGTON LARGE CAP RESEARCH SUB-ACCOUNT (CLASS B) (FORMERLY WMC LARGE CAP
RESEARCH SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 14.663827 14.834640 0.0000
01/01/2015 to 12/31/2015 14.834640 15.243066 2,585.4328
01/01/2016 to 12/31/2016 15.243066 16.229864 2,523.2566
-------------------------- --------- --------- -----------
A-3
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.60% SEPARATE ACCOUNT PRODUCT CHARGES
--------------------------------------------------------------------------------
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
METLIFE ASSET ALLOCATION 100 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 16.147166 16.094408 0.0000
01/01/2015 to 12/31/2015 16.094408 15.520856 996.4143
01/01/2016 to 12/31/2016 15.520856 16.645894 2,962.8532
-------------------------- --------- --------- ----------
METLIFE BALANCED PLUS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.603583 12.667006 0.0000
01/01/2015 to 12/31/2015 12.667006 11.956388 12,075.2057
01/01/2016 to 12/31/2016 11.956388 12.750893 17,070.7358
-------------------------- --------- --------- -----------
METLIFE MULTI-INDEX TARGETED RISK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.044775 12.111669 0.0000
01/01/2015 to 12/31/2015 12.111669 11.774980 9,265.1358
01/01/2016 to 12/31/2016 11.774980 12.093488 12,278.1909
-------------------------- --------- --------- -----------
METLIFE SMALL CAP VALUE SUB-ACCOUNT (CLASS B) (FORMERLY THIRD AVENUE SMALL CAP
VALUE SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 23.597158 23.669965 0.0000
01/01/2015 to 12/31/2015 23.669965 22.034368 200.0134
01/01/2016 to 12/31/2016 22.034368 28.462346 86.4083
-------------------------- --------- --------- -----------
MFS(R) RESEARCH INTERNATIONAL SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 16.098808 15.428070 0.0000
01/01/2015 to 12/31/2015 15.428070 14.913846 684.4192
01/01/2016 to 12/31/2016 14.913846 14.548646 7,313.0023
-------------------------- --------- --------- -----------
MORGAN STANLEY MID CAP GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 18.430768 18.236541 0.0000
01/01/2015 to 12/31/2015 18.236541 17.045616 2,648.7129
01/01/2016 to 12/31/2016 17.045616 15.355826 2,700.9585
-------------------------- --------- --------- -----------
OPPENHEIMER GLOBAL EQUITY SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 24.830482 24.518112 0.0000
01/01/2015 to 12/31/2015 24.518112 25.060181 1,789.3758
01/01/2016 to 12/31/2016 25.060181 24.712833 1,402.2133
-------------------------- --------- --------- -----------
PANAGORA GLOBAL DIVERSIFIED RISK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.449226 10.420216 0.0000
01/01/2015 to 12/31/2015 10.420216 9.693150 0.0000
01/01/2016 to 12/31/2016 9.693150 10.600388 240.7300
-------------------------- --------- --------- -----------
PIMCO INFLATION PROTECTED BOND SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 14.592598 14.407424 0.0000
01/01/2015 to 12/31/2015 14.407424 13.737770 9,478.3448
01/01/2016 to 12/31/2016 13.737770 14.193531 11,398.3480
-------------------------- --------- --------- -----------
PIMCO TOTAL RETURN SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 17.301105 17.356874 59.9384
01/01/2015 to 12/31/2015 17.356874 17.082235 7,741.7901
01/01/2016 to 12/31/2016 17.082235 17.249823 17,035.0964
-------------------------- --------- --------- -----------
PYRAMIS(R) GOVERNMENT INCOME SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.732945 10.843739 0.0000
01/01/2015 to 12/31/2015 10.843739 10.717518 1,897.0512
01/01/2016 to 12/31/2016 10.717518 10.686344 16,992.9963
-------------------------- --------- --------- -----------
PYRAMIS(R) MANAGED RISK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 11.401648 11.480851 0.0000
01/01/2015 to 12/31/2015 11.480851 11.157230 5,575.1622
01/01/2016 to 12/31/2016 11.157230 11.481478 12,001.9607
-------------------------- --------- --------- -----------
A-4
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.60% SEPARATE ACCOUNT PRODUCT CHARGES
--------------------------------------------------------------------------------
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
SCHRODERS GLOBAL MULTI-ASSET SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.259233 12.278159 0.0000
01/01/2015 to 12/31/2015 12.278159 11.977050 2,113.5228
01/01/2016 to 12/31/2016 11.977050 12.453280 2,514.1551
-------------------------- --------- --------- ----------
SSGA GROWTH AND INCOME ETF SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 14.815946 14.776889 292.5766
01/01/2015 to 12/31/2015 14.776889 14.256839 2,976.5132
01/01/2016 to 12/31/2016 14.256839 14.842093 3,142.7397
-------------------------- --------- --------- ----------
SSGA GROWTH ETF SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 14.703267 14.640983 0.0000
01/01/2015 to 12/31/2015 14.640983 14.075594 1,167.7052
01/01/2016 to 12/31/2016 14.075594 14.805146 2,681.7029
-------------------------- --------- --------- ----------
T. ROWE PRICE LARGE CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 72.946354 73.408253 0.0000
01/01/2015 to 12/31/2015 73.408253 69.652442 2,113.2316
01/01/2016 to 12/31/2016 69.652442 79.475942 4,193.4965
-------------------------- --------- --------- ----------
TCW CORE FIXED INCOME SUB-ACCOUNT (CLASS B)
05/01/2015 to 12/31/2015 9.996055 9.840255 1,108.5285
01/01/2016 to 12/31/2016 9.840255 9.897868 2,496.0491
-------------------------- --------- --------- ----------
METROPOLITAN SERIES FUND
BAILLIE GIFFORD INTERNATIONAL STOCK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 13.235378 12.975314 0.0000
01/01/2015 to 12/31/2015 12.975314 12.492244 1,070.3582
01/01/2016 to 12/31/2016 12.492244 12.914900 1,072.5538
-------------------------- --------- --------- ----------
BARCLAYS AGGREGATE BOND INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 16.112545 16.230879 3,013.6599
01/01/2015 to 12/31/2015 16.230879 15.964250 64,388.5854
01/01/2016 to 12/31/2016 15.964250 16.038659 65,589.9339
-------------------------- --------- --------- -----------
BLACKROCK BOND INCOME SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 56.097119 56.616365 0.0000
01/01/2015 to 12/31/2015 56.616365 55.907566 5,618.1681
01/01/2016 to 12/31/2016 55.907566 56.596756 7,112.2294
-------------------------- --------- --------- -----------
BLACKROCK CAPITAL APPRECIATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 42.949904 43.375724 0.0000
01/01/2015 to 12/31/2015 43.375724 45.253170 1,990.7052
01/01/2016 to 12/31/2016 45.253170 44.468816 2,221.8765
-------------------------- --------- --------- -----------
BLACKROCK LARGE CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 16.943907 17.104713 0.0000
01/01/2015 to 12/31/2015 17.104713 15.793193 5,296.8595
01/01/2016 to 12/31/2016 15.793193 18.355201 5,457.5053
-------------------------- --------- --------- -----------
BLACKROCK ULTRA-SHORT TERM BOND SUB-ACCOUNT (CLASS B) (FORMERLY BLACKROCK MONEY
MARKET SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 20.628446 20.590501 16,867.8816
01/01/2015 to 12/31/2015 20.590501 20.263665 36,859.5582
01/01/2016 to 12/31/2016 20.263665 19.964381 42,191.1011
-------------------------- --------- --------- -----------
JENNISON GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 19.644791 19.547715 0.0000
01/01/2015 to 12/31/2015 19.547715 21.264987 1,871.3797
01/01/2016 to 12/31/2016 21.264987 20.900293 4,064.4148
-------------------------- --------- --------- -----------
A-5
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.60% SEPARATE ACCOUNT PRODUCT CHARGES
--------------------------------------------------------------------------------
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
LOOMIS SAYLES SMALL CAP CORE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 52.723765 54.126372 0.0000
01/01/2015 to 12/31/2015 54.126372 52.339183 365.1265
01/01/2016 to 12/31/2016 52.339183 61.280889 767.6203
-------------------------- --------- --------- --------
MET/DIMENSIONAL INTERNATIONAL SMALL COMPANY SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 19.159671 18.932119 0.0000
01/01/2015 to 12/31/2015 18.932119 19.703879 84.8424
01/01/2016 to 12/31/2016 19.703879 20.520943 129.8214
-------------------------- --------- --------- --------
MET/WELLINGTON CORE EQUITY OPPORTUNITIES SUB-ACCOUNT (CLASS B) (FORMERLY MET
INVESTORS SERIES TRUST - PIONEER FUND SUB-ACCOUNT
(CLASS B))
11/19/2014 to 12/31/2014 26.184089 26.320086 0.0000
01/01/2015 to 12/31/2015 26.320086 25.837392 532.8639
01/01/2016 to 04/29/2016 25.837392 25.981652 0.0000
-------------------------- --------- --------- --------
MET/WELLINGTON CORE EQUITY OPPORTUNITIES SUB-ACCOUNT (CLASS B) (FORMERLY WMC CORE
EQUITY OPPORTUNITIES SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 47.214584 47.538780 0.0000
01/01/2015 to 12/31/2015 47.538780 47.786178 662.5724
01/01/2016 to 12/31/2016 47.786178 50.345734 618.1929
-------------------------- --------- --------- --------
METLIFE ASSET ALLOCATION 20 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 14.004965 14.015734 3,109.1387
01/01/2015 to 12/31/2015 14.015734 13.712497 30,115.2052
01/01/2016 to 12/31/2016 13.712497 14.106176 36,346.4726
-------------------------- --------- --------- -----------
METLIFE ASSET ALLOCATION 40 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 14.789196 14.785379 1,021.6494
01/01/2015 to 12/31/2015 14.785379 14.394512 91,153.1344
01/01/2016 to 12/31/2016 14.394512 15.028438 86,653.7036
-------------------------- --------- --------- -----------
METLIFE ASSET ALLOCATION 60 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.359818 15.342896 6,126.2110
01/01/2015 to 12/31/2015 15.342896 14.907923 92,421.2184
01/01/2016 to 12/31/2016 14.907923 15.713737 149,972.8159
-------------------------- --------- --------- ------------
METLIFE ASSET ALLOCATION 80 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.744324 15.704771 0.0000
01/01/2015 to 12/31/2015 15.704771 15.193332 44,496.3034
01/01/2016 to 12/31/2016 15.193332 16.169398 53,673.1674
-------------------------- --------- --------- ------------
METLIFE MID CAP STOCK INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 25.808664 26.181194 324.2919
01/01/2015 to 12/31/2015 26.181194 25.075747 14,375.9686
01/01/2016 to 12/31/2016 25.075747 29.633721 15,450.3423
-------------------------- --------- --------- ------------
METLIFE STOCK INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 60.419170 60.716018 448.1054
01/01/2015 to 12/31/2015 60.716018 60.294244 11,331.3385
01/01/2016 to 12/31/2016 60.294244 66.052143 12,040.8663
-------------------------- --------- --------- ------------
MFS(R) VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 22.939389 23.293524 22.1781
01/01/2015 to 12/31/2015 23.293524 22.840233 2,968.4495
01/01/2016 to 12/31/2016 22.840233 25.646065 4,936.8262
-------------------------- --------- --------- ------------
MSCI EAFE(R) INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 14.064724 13.556208 1,140.6413
01/01/2015 to 12/31/2015 13.556208 13.166143 28,045.5115
01/01/2016 to 12/31/2016 13.166143 13.082675 29,491.8908
-------------------------- --------- --------- ------------
A-6
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.60% SEPARATE ACCOUNT PRODUCT CHARGES
--------------------------------------------------------------------------------
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
NEUBERGER BERMAN GENESIS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 23.739651 23.938565 0.0000
01/01/2015 to 12/31/2015 23.938565 23.648110 1,801.1282
01/01/2016 to 12/31/2016 23.648110 27.553642 1,478.6236
-------------------------- --------- --------- ----------
RUSSELL 2000(R) INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 24.817525 25.809501 171.1283
01/01/2015 to 12/31/2015 25.809501 24.247567 5,135.6300
01/01/2016 to 12/31/2016 24.247567 28.856113 5,535.3441
-------------------------- --------- --------- ----------
T. ROWE PRICE LARGE CAP GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 22.938715 22.849870 0.0000
01/01/2015 to 12/31/2015 22.849870 24.851181 8,457.8413
01/01/2016 to 12/31/2016 24.851181 24.831351 10,426.9861
-------------------------- --------- --------- -----------
T. ROWE PRICE SMALL CAP GROWTH SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 28.823412 29.474074 0.0000
01/01/2015 to 12/31/2015 29.474074 29.732841 4,446.6032
01/01/2016 to 12/31/2016 29.732841 32.519807 4,973.6034
-------------------------- --------- --------- -----------
VAN ECK GLOBAL NATURAL RESOURCES SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.258549 13.501963 0.0000
01/01/2015 to 12/31/2015 13.501963 8.934732 5,717.0074
01/01/2016 to 12/31/2016 8.934732 12.638993 5,716.9958
-------------------------- --------- --------- -----------
WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 29.046528 28.949745 0.0000
01/01/2015 to 12/31/2015 28.949745 27.920237 731.6092
01/01/2016 to 12/31/2016 27.920237 29.758273 4,525.1856
-------------------------- --------- --------- -----------
WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES SUB-ACCOUNT (CLASS B)
(FORMERLY MET INVESTORS SERIES TRUST - LORD
ABBETT BOND DEBENTURE SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 28.291277 28.217340 30.8078
01/01/2015 to 12/31/2015 28.217340 27.165618 4,930.8464
01/01/2016 to 04/29/2016 27.165618 27.972878 0.0000
-------------------------- --------- --------- -----------
WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES SUB-ACCOUNT (CLASS B)
(FORMERLY MET INVESTORS SERIES TRUST - PIONEER
STRATEGIC INCOME SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 26.992971 26.818342 162.5643
01/01/2015 to 12/31/2015 26.818342 25.975669 791.2097
01/01/2016 to 04/29/2016 25.975669 26.597248 0.0000
-------------------------- --------- --------- -----------
WESTERN ASSET MANAGEMENT U.S. GOVERNMENT SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 17.383901 17.395238 0.0000
01/01/2015 to 12/31/2015 17.395238 17.171688 910.6056
01/01/2016 to 12/31/2016 17.171688 17.071718 4,908.1526
-------------------------- --------- --------- -----------
PIMCO VARIABLE INSURANCE TRUST
PIMCO COMMODITYREALRETURN(R) STRATEGY SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 9.996059 8.674583 0.0000
01/01/2015 to 12/31/2015 8.674583 6.336225 5,836.3380
01/01/2016 to 12/31/2016 6.336225 7.147274 6,094.3116
-------------------------- --------- --------- -----------
PIMCO EMERGING MARKETS BOND SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 9.904240 9.546195 91.6218
01/01/2015 to 12/31/2015 9.546195 9.156853 6,222.3602
01/01/2016 to 12/31/2016 9.156853 10.180711 5,851.8843
-------------------------- --------- --------- -----------
A-7
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.60% SEPARATE ACCOUNT PRODUCT CHARGES
-------------------------------------------------------------------------------------------------------------
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
PIMCO UNCONSTRAINED BOND SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 9.987265 9.956111 0.0000
01/01/2015 to 12/31/2015 9.956111 9.605528 4,541.1698
01/01/2016 to 12/31/2016 9.605528 9.871186 11,059.0775
------------------------------------------------------- -------- -------- -----------
THE UNIVERSAL INSTITUTIONAL FUNDS, INC.
GLOBAL INFRASTRUCTURE SUB-ACCOUNT (CLASS II)
11/19/2014 to 12/31/2014 12.154327 12.041012 0.0000
01/01/2015 to 12/31/2015 12.041012 10.204434 6,143.8686
01/01/2016 to 12/31/2016 10.204434 11.545559 6,730.6409
------------------------------------------------------- --------- --------- -----------
VANECK VIP TRUST
VANECK VIP LONG/SHORT EQUITY INDEX UB-ACCOUNT (CLASS S)
11/19/2014 to 12/31/2014 10.008097 10.076755 0.0000
01/01/2015 to 12/31/2015 10.076755 9.605865 3,211.0617
01/01/2016 to 12/31/2016 9.605865 9.701276 3,253.4066
A-8
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.10% SEPARATE ACCOUNT PRODUCT CHARGES
----------------------------------------------------------------------------------------------------------
ACCUMULATION
UNIT VALUE AT
BEGINNING OF
PERIOD
AMERICAN FUNDS INSURANCE SERIES(R)
AMERICAN FUNDS GLOBAL SMALL CAPITALIZATION SUB-ACCOUNT (CLASS 4)
11/19/2014 to 12/31/2014 12.887744
01/01/2015 to 12/31/2015 13.113309
01/01/2016 to 12/31/2016 12.967367
------------------------------------------------------------------------------------------ ---------
BLACKROCK VARIABLE SERIES FUNDS, INC.
BLACKROCK GLOBAL ALLOCATION V.I. SUB-ACCOUNT (CLASS III)
11/19/2014 to 12/31/2014 21.506535
01/01/2015 to 12/31/2015 21.303605
01/01/2016 to 12/31/2016 20.859624
------------------------------------------------------------------------------------------ ---------
IVY VARIABLE INSURANCE PORTFOLIOS
IVY VIP ASSET STRATEGY SUB-ACCOUNT (FORMERLY IVY FUNDS VIP ASSET STRATEGY SUB-ACCOUNT)
11/19/2014 to 12/31/2014 17.904717
01/01/2015 to 12/31/2015 17.508605
01/01/2016 to 12/31/2016 15.871693
------------------------------------------------------------------------------------------ ---------
LEGG MASON PARTNERS VARIABLE EQUITY TRUST
ENTRUSTPERMAL ALTERNATIVE SELECT VIT SUB-ACCOUNT (CLASS II) (FORMERLY PERMAL ALTERNATIVE SELECT VIT
SUB-ACCOUNT (CLASS II))
11/19/2014 to 12/31/2014 10.076626
01/01/2015 to 12/31/2015 10.017785
01/01/2016 to 12/31/2016 9.474704
------------------------------------------------------------------------------------------ ---------
MET INVESTORS SERIES TRUST
AB GLOBAL DYNAMIC ALLOCATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.339502
01/01/2015 to 12/31/2015 12.397184
01/01/2016 to 12/31/2016 12.332587
------------------------------------------------------------------------------------------ ---------
ALLIANZ GLOBAL INVESTORS DYNAMIC MULTI-ASSET PLUS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.510424
01/01/2015 to 12/31/2015 10.568750
01/01/2016 to 12/31/2016 10.350304
------------------------------------------------------------------------------------------ ---------
AMERICAN FUNDS(R) BALANCED ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 13.391924
01/01/2015 to 12/31/2015 13.325432
01/01/2016 to 12/31/2016 13.086680
------------------------------------------------------------------------------------------ ---------
AMERICAN FUNDS(R) GROWTH ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 13.473618
01/01/2015 to 12/31/2015 13.366069
01/01/2016 to 12/31/2016 13.119947
------------------------------------------------------------------------------------------ ---------
AMERICAN FUNDS(R) GROWTH SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 1.393747
01/01/2015 to 12/31/2015 1.396423
01/01/2016 to 12/31/2016 1.470802
------------------------------------------------------------------------------------------ ---------
AMERICAN FUNDS(R) MODERATE ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 13.118224
01/01/2015 to 12/31/2015 13.076830
01/01/2016 to 12/31/2016 12.839882
------------------------------------------------------------------------------------------ ---------
NUMBER OF
ACCUMULATION ACCUMULATION
UNIT VALUE AT UNITS
END OF OUTSTANDING AT
PERIOD END OF PERIOD
AMERICAN FUNDS INSURANCE SERIES(R)
AMERICAN FUNDS GLOBAL SMALL CAPITALIZATION SUB-ACCOUNT (CLASS 4)
11/19/2014 to 12/31/2014 13.113309 0.0000
01/01/2015 to 12/31/2015 12.967367 16,362.8815
01/01/2016 to 12/31/2016 13.062495 16,428.0565
------------------------------------------------------------------------------------------ --------- -----------
BLACKROCK VARIABLE SERIES FUNDS, INC.
BLACKROCK GLOBAL ALLOCATION V.I. SUB-ACCOUNT (CLASS III)
11/19/2014 to 12/31/2014 21.303605 401.6541
01/01/2015 to 12/31/2015 20.859624 7,778.2399
01/01/2016 to 12/31/2016 21.416454 11,051.2782
------------------------------------------------------------------------------------------ --------- -----------
IVY VARIABLE INSURANCE PORTFOLIOS
IVY VIP ASSET STRATEGY SUB-ACCOUNT (FORMERLY IVY FUNDS VIP ASSET STRATEGY SUB-ACCOUNT)
11/19/2014 to 12/31/2014 17.508605 2,502.1076
01/01/2015 to 12/31/2015 15.871693 5,750.8985
01/01/2016 to 12/31/2016 15.294900 6,062.7280
------------------------------------------------------------------------------------------ --------- -----------
LEGG MASON PARTNERS VARIABLE EQUITY TRUST
ENTRUSTPERMAL ALTERNATIVE SELECT VIT SUB-ACCOUNT (CLASS II) (FORMERLY PERMAL ALTERNATIVE SELECT VIT SUB-ACCOUNT (CLASS II))
11/19/2014 to 12/31/2014 10.017785 17,388.4451
01/01/2015 to 12/31/2015 9.474704 187,082.4409
01/01/2016 to 12/31/2016 9.125412 246,061.8483
------------------------------------------------------------------------------------------ --------- ------------
MET INVESTORS SERIES TRUST
AB GLOBAL DYNAMIC ALLOCATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.397184 0.0000
01/01/2015 to 12/31/2015 12.332587 4,278.6191
01/01/2016 to 12/31/2016 12.636287 5,498.6002
------------------------------------------------------------------------------------------ --------- ------------
ALLIANZ GLOBAL INVESTORS DYNAMIC MULTI-ASSET PLUS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.568750 0.0000
01/01/2015 to 12/31/2015 10.350304 1,396.5851
01/01/2016 to 12/31/2016 10.441291 1,418.6466
------------------------------------------------------------------------------------------ --------- ------------
AMERICAN FUNDS(R) BALANCED ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 13.325432 0.0000
01/01/2015 to 12/31/2015 13.086680 18,935.7164
01/01/2016 to 12/31/2016 13.954371 17,643.3408
------------------------------------------------------------------------------------------ --------- ------------
AMERICAN FUNDS(R) GROWTH ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 13.366069 2,230.7335
01/01/2015 to 12/31/2015 13.119947 6,697.9189
01/01/2016 to 12/31/2016 14.138925 13,833.8751
------------------------------------------------------------------------------------------ --------- ------------
AMERICAN FUNDS(R) GROWTH SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 1.396423 12,400.5992
01/01/2015 to 12/31/2015 1.470802 330,412.9735
01/01/2016 to 12/31/2016 1.587079 481,860.5754
------------------------------------------------------------------------------------------ --------- ------------
AMERICAN FUNDS(R) MODERATE ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 13.076830 0.0000
01/01/2015 to 12/31/2015 12.839882 489.5233
01/01/2016 to 12/31/2016 13.590034 8,552.2031
------------------------------------------------------------------------------------------ --------- ------------
A-9
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.10% SEPARATE ACCOUNT PRODUCT CHARGES
--------------------------------------------------------------------------------
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
AQR GLOBAL RISK BALANCED SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 11.782282 11.420947 0.0000
01/01/2015 to 12/31/2015 11.420947 10.214631 450.1636
01/01/2016 to 12/31/2016 10.214631 11.008204 447.3330
-------------------------- --------- --------- --------
BLACKROCK GLOBAL TACTICAL STRATEGIES SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 11.886631 11.828337 0.0000
01/01/2015 to 12/31/2015 11.828337 11.686232 9,050.9991
01/01/2016 to 12/31/2016 11.686232 12.070584 26,372.2768
-------------------------- --------- --------- -----------
BLACKROCK HIGH YIELD SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 28.356898 27.942922 403.3003
01/01/2015 to 12/31/2015 27.942922 26.518743 6,239.8864
01/01/2016 to 12/31/2016 26.518743 29.894879 10,300.8687
-------------------------- --------- --------- -----------
CLARION GLOBAL REAL ESTATE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 19.166089 19.424740 736.6118
01/01/2015 to 12/31/2015 19.424740 18.942984 18,480.8382
01/01/2016 to 12/31/2016 18.942984 18.899451 21,370.5041
-------------------------- --------- --------- -----------
CLEARBRIDGE AGGRESSIVE GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.665605 15.777330 946.8580
01/01/2015 to 12/31/2015 15.777330 14.974877 37,799.2783
01/01/2016 to 12/31/2016 14.974877 15.208074 42,653.4170
-------------------------- --------- --------- -----------
GOLDMAN SACHS MID CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 24.699328 25.193922 951.9962
01/01/2015 to 12/31/2015 25.193922 22.646125 7,588.2435
01/01/2016 to 12/31/2016 22.646125 25.351227 7,833.4773
-------------------------- --------- --------- -----------
HARRIS OAKMARK INTERNATIONAL SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 26.875477 26.739009 550.8569
01/01/2015 to 12/31/2015 26.739009 25.250624 23,594.1280
01/01/2016 to 12/31/2016 25.250624 27.016708 28,146.5019
-------------------------- --------- --------- -----------
INVESCO BALANCED-RISK ALLOCATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 11.032565 11.102081 6,104.5450
01/01/2015 to 12/31/2015 11.102081 10.518916 13,129.6672
01/01/2016 to 12/31/2016 10.518916 11.622810 13,053.4908
-------------------------- --------- --------- -----------
INVESCO COMSTOCK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 17.273860 17.307033 1,621.1612
01/01/2015 to 12/31/2015 17.307033 16.095628 3,364.5957
01/01/2016 to 12/31/2016 16.095628 18.673300 2,996.1298
-------------------------- --------- --------- -----------
INVESCO MID CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 39.954332 40.286089 0.0000
01/01/2015 to 12/31/2015 40.286089 36.266785 2,673.8323
01/01/2016 to 12/31/2016 36.266785 41.431417 2,777.0100
-------------------------- --------- --------- -----------
INVESCO SMALL CAP GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 27.157642 27.679783 0.0000
01/01/2015 to 12/31/2015 27.679783 26.908922 6,535.2297
01/01/2016 to 12/31/2016 26.908922 29.657810 7,381.8982
-------------------------- --------- --------- -----------
JPMORGAN CORE BOND SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 9.938670 9.993042 83.4926
01/01/2015 to 12/31/2015 9.993042 9.931455 9,982.3221
01/01/2016 to 12/31/2016 9.931455 10.041845 9,939.2609
-------------------------- --------- --------- -----------
A-10
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.10% SEPARATE ACCOUNT PRODUCT CHARGES
--------------------------------------------------------------------------------
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
JPMORGAN GLOBAL ACTIVE ALLOCATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.224546 12.219389 0.0000
01/01/2015 to 12/31/2015 12.219389 12.193798 10,960.9532
01/01/2016 to 12/31/2016 12.193798 12.410503 40,882.4866
-------------------------- --------- --------- -----------
JPMORGAN SMALL CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 19.630581 20.520844 0.0000
01/01/2015 to 12/31/2015 20.520844 18.787682 2,631.2642
01/01/2016 to 12/31/2016 18.787682 24.251073 2,486.9973
-------------------------- --------- --------- -----------
LOOMIS SAYLES GLOBAL MARKETS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 17.870662 17.671204 0.0000
01/01/2015 to 12/31/2015 17.671204 17.692473 2,084.5936
01/01/2016 to 12/31/2016 17.692473 18.334864 4,493.2435
-------------------------- --------- --------- -----------
MET/ABERDEEN EMERGING MARKETS EQUITY SUB-ACCOUNT (CLASS B) (FORMERLY MFS(R)
EMERGING MARKETS EQUITY SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 11.017908 10.476271 607.8265
01/01/2015 to 12/31/2015 10.476271 8.930430 13,573.6836
01/01/2016 to 12/31/2016 8.930430 9.848669 18,662.1531
-------------------------- --------- --------- -----------
MET/ARTISAN INTERNATIONAL SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.147446 9.955922 0.0000
01/01/2015 to 12/31/2015 9.955922 9.503358 4,545.9743
01/01/2016 to 12/31/2016 9.503358 8.527701 11,396.9617
-------------------------- --------- --------- -----------
MET/EATON VANCE FLOATING RATE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 11.327754 11.225720 988.3320
01/01/2015 to 12/31/2015 11.225720 11.010205 17,782.3075
01/01/2016 to 12/31/2016 11.010205 11.899095 24,283.0661
-------------------------- --------- --------- -----------
MET/FRANKLIN LOW DURATION TOTAL RETURN SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.128564 10.105565 281.8359
01/01/2015 to 12/31/2015 10.105565 9.932797 12,856.8410
01/01/2016 to 12/31/2016 9.932797 10.131963 23,774.7022
-------------------------- --------- --------- -----------
MET/TEMPLETON INTERNATIONAL BOND SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 13.980352 13.658847 1,559.4007
01/01/2015 to 12/31/2015 13.658847 12.947476 18,816.3231
01/01/2016 to 12/31/2016 12.947476 12.917833 21,068.5179
-------------------------- --------- --------- -----------
MET/WELLINGTON LARGE CAP RESEARCH SUB-ACCOUNT (CLASS B) (FORMERLY WMC LARGE CAP
RESEARCH SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 15.938766 16.133713 1,113.4523
01/01/2015 to 12/31/2015 16.133713 16.661002 2,650.8126
01/01/2016 to 12/31/2016 16.661002 17.828496 8,846.9895
-------------------------- --------- --------- -----------
METLIFE ASSET ALLOCATION 100 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 16.979326 16.933600 35,858.4439
01/01/2015 to 12/31/2015 16.933600 16.412027 7,426.6291
01/01/2016 to 12/31/2016 16.412027 17.689874 11,319.1990
-------------------------- --------- --------- -----------
METLIFE BALANCED PLUS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.830167 12.902153 693.6869
01/01/2015 to 12/31/2015 12.902153 12.239404 43,851.1563
01/01/2016 to 12/31/2016 12.239404 13.118119 49,997.3020
-------------------------- --------- --------- -----------
METLIFE MULTI-INDEX TARGETED RISK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.168621 12.243247 0.0000
01/01/2015 to 12/31/2015 12.243247 11.962573 17,612.2354
01/01/2016 to 12/31/2016 11.962573 12.347725 20,153.4315
-------------------------- --------- --------- -----------
A-11
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.10% SEPARATE ACCOUNT PRODUCT CHARGES
--------------------------------------------------------------------------------
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
METLIFE SMALL CAP VALUE SUB-ACCOUNT (CLASS B) (FORMERLY THIRD AVENUE SMALL CAP
VALUE SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 25.127060 25.219108 754.0061
01/01/2015 to 12/31/2015 25.219108 23.594196 1,532.6047
01/01/2016 to 12/31/2016 23.594196 30.629883 3,503.9011
-------------------------- --------- --------- ----------
MFS(R) RESEARCH INTERNATIONAL SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 17.246951 16.537912 0.0000
01/01/2015 to 12/31/2015 16.537912 16.066862 7,236.4611
01/01/2016 to 12/31/2016 16.066862 15.751995 7,829.1707
-------------------------- --------- --------- ----------
MORGAN STANLEY MID CAP GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 19.745328 19.548510 0.0000
01/01/2015 to 12/31/2015 19.548510 18.363552 8,407.6157
01/01/2016 to 12/31/2016 18.363552 16.626053 8,190.7758
-------------------------- --------- --------- ----------
OPPENHEIMER GLOBAL EQUITY SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 27.131613 26.805734 315.8519
01/01/2015 to 12/31/2015 26.805734 27.535734 10,890.3586
01/01/2016 to 12/31/2016 27.535734 27.290197 14,746.0902
-------------------------- --------- --------- -----------
PANAGORA GLOBAL DIVERSIFIED RISK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.480614 10.457535 0.0000
01/01/2015 to 12/31/2015 10.457535 9.776653 284.9219
01/01/2016 to 12/31/2016 9.776653 10.745276 5,540.0652
-------------------------- --------- --------- -----------
PIMCO INFLATION PROTECTED BOND SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.460880 15.273476 184.6298
01/01/2015 to 12/31/2015 15.273476 14.636599 5,486.2380
01/01/2016 to 12/31/2016 14.636599 15.197971 15,803.0265
-------------------------- --------- --------- -----------
PIMCO TOTAL RETURN SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 18.534438 18.604882 1,696.7139
01/01/2015 to 12/31/2015 18.604882 18.402284 9,643.9143
01/01/2016 to 12/31/2016 18.402284 18.675953 17,647.5483
-------------------------- --------- --------- -----------
PYRAMIS(R) GOVERNMENT INCOME SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.925906 11.045042 455.1112
01/01/2015 to 12/31/2015 11.045042 10.971197 1,591.5139
01/01/2016 to 12/31/2016 10.971197 10.994112 2,585.3018
-------------------------- --------- --------- -----------
PYRAMIS(R) MANAGED RISK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 11.492411 11.578906 771.7298
01/01/2015 to 12/31/2015 11.578906 11.308937 29,706.6969
01/01/2016 to 12/31/2016 11.308937 11.695915 52,499.2282
-------------------------- --------- --------- -----------
SCHRODERS GLOBAL MULTI-ASSET SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.418573 12.444905 0.0000
01/01/2015 to 12/31/2015 12.444905 12.200565 2,719.6089
01/01/2016 to 12/31/2016 12.200565 12.749252 16,766.3172
-------------------------- --------- --------- -----------
SSGA GROWTH AND INCOME ETF SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.508915 15.476937 0.0000
01/01/2015 to 12/31/2015 15.476937 15.007117 18,463.9367
01/01/2016 to 12/31/2016 15.007117 15.701457 22,327.7940
-------------------------- --------- --------- -----------
SSGA GROWTH ETF SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.391019 15.334647 6,559.3337
01/01/2015 to 12/31/2015 15.334647 14.816389 55,080.8531
01/01/2016 to 12/31/2016 14.816389 15.662425 59,836.9195
-------------------------- --------- --------- -----------
A-12
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.10% SEPARATE ACCOUNT PRODUCT CHARGES
--------------------------------------------------------------------------------
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
T. ROWE PRICE LARGE CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 82.639183 83.210342 0.0000
01/01/2015 to 12/31/2015 83.210342 79.348881 2,646.8210
01/01/2016 to 12/31/2016 79.348881 90.993606 6,209.7808
-------------------------- --------- --------- ----------
TCW CORE FIXED INCOME SUB-ACCOUNT (CLASS B)
05/01/2015 to 12/31/2015 9.997288 9.874419 2,202.1999
01/01/2016 to 12/31/2016 9.874419 9.982012 4,930.9508
-------------------------- --------- --------- ----------
METROPOLITAN SERIES FUND
BAILLIE GIFFORD INTERNATIONAL STOCK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 14.891032 14.606852 0.0000
01/01/2015 to 12/31/2015 14.606852 14.133563 2,882.3775
01/01/2016 to 12/31/2016 14.133563 14.684972 3,071.9416
-------------------------- --------- --------- ----------
BARCLAYS AGGREGATE BOND INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 17.457592 17.595920 9,718.7778
01/01/2015 to 12/31/2015 17.595920 17.393622 78,931.6166
01/01/2016 to 12/31/2016 17.393622 17.562275 125,197.4076
-------------------------- --------- --------- ------------
BLACKROCK BOND INCOME SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 65.583786 66.228919 192.0593
01/01/2015 to 12/31/2015 66.228919 65.727602 5,076.8626
01/01/2016 to 12/31/2016 65.727602 66.871319 9,123.7716
-------------------------- --------- --------- ------------
BLACKROCK CAPITAL APPRECIATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 47.482333 47.980703 378.1594
01/01/2015 to 12/31/2015 47.980703 50.308404 1,990.1111
01/01/2016 to 12/31/2016 50.308404 49.684211 3,738.2189
-------------------------- --------- --------- ------------
BLACKROCK LARGE CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 18.042269 18.223988 0.0000
01/01/2015 to 12/31/2015 18.223988 16.911026 6,012.1701
01/01/2016 to 12/31/2016 16.911026 19.752866 11,368.0676
-------------------------- --------- --------- ------------
BLACKROCK ULTRA-SHORT TERM BOND SUB-ACCOUNT (CLASS B) (FORMERLY BLACKROCK MONEY
MARKET SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 24.116989 24.086481 2,662.3263
01/01/2015 to 12/31/2015 24.086481 23.822974 25,330.6495
01/01/2016 to 12/31/2016 23.822974 23.588772 24,499.3288
-------------------------- --------- --------- ------------
JENNISON GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 20.918209 20.826834 1,331.5575
01/01/2015 to 12/31/2015 20.826834 22.770031 14,374.4377
01/01/2016 to 12/31/2016 22.770031 22.491696 15,766.7356
-------------------------- --------- --------- ------------
LOOMIS SAYLES SMALL CAP CORE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 58.433490 60.022537 0.0000
01/01/2015 to 12/31/2015 60.022537 58.331636 710.5113
01/01/2016 to 12/31/2016 58.331636 68.639346 1,835.3550
-------------------------- --------- --------- ------------
MET/DIMENSIONAL INTERNATIONAL SMALL COMPANY SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 19.748727 19.525422 0.0000
01/01/2015 to 12/31/2015 19.525422 20.423236 1,813.6581
01/01/2016 to 12/31/2016 20.423236 21.376722 2,746.4905
-------------------------- --------- --------- ------------
MET/WELLINGTON CORE EQUITY OPPORTUNITIES SUB-ACCOUNT (CLASS B) (FORMERLY MET
INVESTORS SERIES TRUST - PIONEER FUND SUB-ACCOUNT
(CLASS B))
11/19/2014 to 12/31/2014 29.053768 29.221486 340.4131
01/01/2015 to 12/31/2015 29.221486 28.829385 722.1134
01/01/2016 to 04/29/2016 28.829385 29.038062 0.0000
-------------------------- --------- --------- ------------
A-13
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.10% SEPARATE ACCOUNT PRODUCT CHARGES
--------------------------------------------------------------------------------
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
MET/WELLINGTON CORE EQUITY OPPORTUNITIES SUB-ACCOUNT (CLASS B) (FORMERLY WMC CORE
EQUITY OPPORTUNITIES SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 52.196646 52.585303 531.3699
01/01/2015 to 12/31/2015 52.585303 53.123903 605.0416
01/01/2016 to 12/31/2016 53.123903 56.249847 835.7381
-------------------------- --------- --------- --------
METLIFE ASSET ALLOCATION 20 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 14.690848 14.710606 0.0000
01/01/2015 to 12/31/2015 14.710606 14.464485 13,470.3028
01/01/2016 to 12/31/2016 14.464485 14.954328 23,830.8315
-------------------------- --------- --------- -----------
METLIFE ASSET ALLOCATION 40 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.513530 15.518454 4,792.7579
01/01/2015 to 12/31/2015 15.518454 15.183954 50,699.0024
01/01/2016 to 12/31/2016 15.183954 15.932093 44,828.9713
-------------------------- --------- --------- -----------
METLIFE ASSET ALLOCATION 60 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 16.112149 16.103666 0.0000
01/01/2015 to 12/31/2015 16.103666 15.725575 157,567.9184
01/01/2016 to 12/31/2016 15.725575 16.658654 194,474.6861
-------------------------- --------- --------- ------------
METLIFE ASSET ALLOCATION 80 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 16.515564 16.483562 2,654.5369
01/01/2015 to 12/31/2015 16.483562 16.026719 107,922.5889
01/01/2016 to 12/31/2016 16.026719 17.141801 145,262.4340
-------------------------- --------- --------- ------------
METLIFE MID CAP STOCK INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 27.733335 28.149843 1,309.1467
01/01/2015 to 12/31/2015 28.149843 27.096435 23,541.7762
01/01/2016 to 12/31/2016 27.096435 32.182121 43,351.4147
-------------------------- --------- --------- ------------
METLIFE STOCK INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 68.314715 68.689883 2,321.8713
01/01/2015 to 12/31/2015 68.689883 68.554645 21,281.9908
01/01/2016 to 12/31/2016 68.554645 75.477687 32,351.1635
-------------------------- --------- --------- ------------
MFS(R) VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 24.892781 25.291617 390.1532
01/01/2015 to 12/31/2015 25.291617 24.923756 10,414.6866
01/01/2016 to 12/31/2016 24.923756 28.125773 20,012.6476
-------------------------- --------- --------- ------------
MSCI EAFE(R) INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 15.239276 14.696767 3,941.9271
01/01/2015 to 12/31/2015 14.696767 14.345466 52,331.1281
01/01/2016 to 12/31/2016 14.345466 14.325971 74,087.1717
-------------------------- --------- --------- ------------
NEUBERGER BERMAN GENESIS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 25.509956 25.738521 0.0000
01/01/2015 to 12/31/2015 25.738521 25.553678 1,069.5625
01/01/2016 to 12/31/2016 25.553678 29.923099 1,258.7475
-------------------------- --------- --------- ------------
RUSSELL 2000(R) INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 26.889974 27.980885 658.4704
01/01/2015 to 12/31/2015 27.980885 26.419357 15,098.0985
01/01/2016 to 12/31/2016 26.419357 31.598191 21,098.4471
-------------------------- --------- --------- ------------
T. ROWE PRICE LARGE CAP GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 24.854074 24.772072 0.0000
01/01/2015 to 12/31/2015 24.772072 27.076768 16,622.7892
01/01/2016 to 12/31/2016 27.076768 27.190759 37,494.1857
-------------------------- --------- --------- ------------
A-14
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.10% SEPARATE ACCOUNT PRODUCT CHARGES
----------------------------------------------------------------------------------------------------------
ACCUMULATION
UNIT VALUE AT
BEGINNING OF
PERIOD
T. ROWE PRICE SMALL CAP GROWTH SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 31.495224
01/01/2015 to 12/31/2015 32.224740
01/01/2016 to 12/31/2016 32.670626
------------------------------------------------------------------------------------------ ---------
VAN ECK GLOBAL NATURAL RESOURCES SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.727957
01/01/2015 to 12/31/2015 13.925418
01/01/2016 to 12/31/2016 9.261270
------------------------------------------------------------------------------------------ ---------
WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 32.111021
01/01/2015 to 12/31/2015 32.022451
01/01/2016 to 12/31/2016 31.038507
------------------------------------------------------------------------------------------ ---------
WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES SUB-ACCOUNT (CLASS B) (FORMERLY MET INVESTORS SERIES
TRUST - LORD
ABBETT BOND DEBENTURE SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 31.042646
01/01/2015 to 12/31/2015 30.979345
01/01/2016 to 04/29/2016 29.974209
------------------------------------------------------------------------------------------ ---------
WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES SUB-ACCOUNT (CLASS B) (FORMERLY MET INVESTORS SERIES
TRUST - PIONEER
STRATEGIC INCOME SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 29.896928
01/01/2015 to 12/31/2015 29.720610
01/01/2016 to 04/29/2016 28.931055
------------------------------------------------------------------------------------------ ---------
WESTERN ASSET MANAGEMENT U.S. GOVERNMENT SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 19.218167
01/01/2015 to 12/31/2015 19.241765
01/01/2016 to 12/31/2016 19.089698
------------------------------------------------------------------------------------------ ---------
PIMCO VARIABLE INSURANCE TRUST
PIMCO COMMODITYREALRETURN(R) STRATEGY SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 9.997290
01/01/2015 to 12/31/2015 8.680677
01/01/2016 to 12/31/2016 6.372537
------------------------------------------------------------------------------------------ ---------
PIMCO EMERGING MARKETS BOND SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 9.905463
01/01/2015 to 12/31/2015 9.552882
01/01/2016 to 12/31/2016 9.209222
------------------------------------------------------------------------------------------ ---------
PIMCO UNCONSTRAINED BOND SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 9.989865
01/01/2015 to 12/31/2015 9.964435
01/01/2016 to 12/31/2016 9.661757
------------------------------------------------------------------------------------------ ---------
THE UNIVERSAL INSTITUTIONAL FUNDS, INC.
GLOBAL INFRASTRUCTURE SUB-ACCOUNT (CLASS II)
11/19/2014 to 12/31/2014 13.065933
01/01/2015 to 12/31/2015 12.951580
01/01/2016 to 12/31/2016 11.031188
------------------------------------------------------------------------------------------ ---------
NUMBER OF
ACCUMULATION ACCUMULATION
UNIT VALUE AT UNITS
END OF OUTSTANDING AT
PERIOD END OF PERIOD
T. ROWE PRICE SMALL CAP GROWTH SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 32.224740 197.2541
01/01/2015 to 12/31/2015 32.670626 7,819.6705
01/01/2016 to 12/31/2016 35.912047 14,678.9088
------------------------------------------------------------------------------------------ --------- -----------
VAN ECK GLOBAL NATURAL RESOURCES SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 13.925418 467.6047
01/01/2015 to 12/31/2015 9.261270 12,231.4819
01/01/2016 to 12/31/2016 13.166547 15,301.2890
------------------------------------------------------------------------------------------ --------- -----------
WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 32.022451 397.9428
01/01/2015 to 12/31/2015 31.038507 1,688.7264
01/01/2016 to 12/31/2016 33.247589 22,813.6719
------------------------------------------------------------------------------------------ --------- -----------
WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES SUB-ACCOUNT (CLASS B) (FORMERLY MET INVESTORS SERIES TRUST - LORD
ABBETT BOND DEBENTURE SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 30.979345 556.1751
01/01/2015 to 12/31/2015 29.974209 12,096.4866
01/01/2016 to 04/29/2016 30.915698 0.0000
------------------------------------------------------------------------------------------ --------- -----------
WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES SUB-ACCOUNT (CLASS B) (FORMERLY MET INVESTORS SERIES TRUST - PIONEER
STRATEGIC INCOME SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 29.720610 0.0000
01/01/2015 to 12/31/2015 28.931055 5,736.1074
01/01/2016 to 04/29/2016 29.672076 0.0000
------------------------------------------------------------------------------------------ --------- -----------
WESTERN ASSET MANAGEMENT U.S. GOVERNMENT SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 19.241765 0.0000
01/01/2015 to 12/31/2015 19.089698 5,827.2557
01/01/2016 to 12/31/2016 19.073686 5,944.0069
------------------------------------------------------------------------------------------ --------- -----------
PIMCO VARIABLE INSURANCE TRUST
PIMCO COMMODITYREALRETURN(R) STRATEGY SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 8.680677 1,392.7270
01/01/2015 to 12/31/2015 6.372537 14,092.3614
01/01/2016 to 12/31/2016 7.224263 16,248.2695
------------------------------------------------------------------------------------------ --------- -----------
PIMCO EMERGING MARKETS BOND SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 9.552882 1,159.9133
01/01/2015 to 12/31/2015 9.209222 12,045.0723
01/01/2016 to 12/31/2016 10.290237 14,511.8528
------------------------------------------------------------------------------------------ --------- -----------
PIMCO UNCONSTRAINED BOND SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 9.964435 0.0000
01/01/2015 to 12/31/2015 9.661757 8,993.7819
01/01/2016 to 12/31/2016 9.978734 12,144.9244
------------------------------------------------------------------------------------------ --------- -----------
THE UNIVERSAL INSTITUTIONAL FUNDS, INC.
GLOBAL INFRASTRUCTURE SUB-ACCOUNT (CLASS II)
11/19/2014 to 12/31/2014 12.951580 368.8953
01/01/2015 to 12/31/2015 11.031188 9,036.9157
01/01/2016 to 12/31/2016 12.543492 10,211.2689
------------------------------------------------------------------------------------------ --------- -----------
A-15
APPENDIX A
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.10% SEPARATE ACCOUNT PRODUCT CHARGES
-------------------------------------------------------------------------------------------------------------
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
VANECK VIP TRUST
VANECK VIP LONG/SHORT EQUITY INDEX UB-ACCOUNT (CLASS S)
11/19/2014 to 12/31/2014 10.016741 10.091265 629.0296
01/01/2015 to 12/31/2015 10.091265 9.667924 8,225.2012
01/01/2016 to 12/31/2016 9.667924 9.812886 8,523.6969
DISCONTINUED INVESTMENT PORTFOLIOS
Effective as of May 1, 2016:
o Met Investors Series Trust: Lord Abbett Bond Debenture Portfolio (Class B)
merged into Metropolitan Series Fund: Western Asset Management Strategic
Bond Opportunities Portfolio (Class B);
o Met Investors Series Trust: Pioneer Fund Portfolio (Class B) merged into
Metropolitan Series Fund: Met/Wellington Core Equity Opportunities Portfolio
(Class B); and
o Met Investors Series Trust: Pioneer Strategic Income Portfolio (Class B)
merged into Metropolitan Series Fund: Western Asset Management Strategic
Bond Opportunities Portfolio (Class B).
Effective as of May 1, 2017, Legg Mason Partners Variable Equity Trust:
EntrustPermal Alternative Select VIT Portfolio closed to purchases and is no
longer available for allocations of new Purchase Payments or transfers of
Account Value.
A-16
APPENDIX B
PARTICIPATING INVESTMENT PORTFOLIOS
Below are the advisers and subadvisers and investment objectives of each
Investment Portfolio available under the contract. The fund prospectuses
contain more complete information, including a description of the investment
objectives, policies, restrictions and risks. THERE CAN BE NO ASSURANCE THAT
THE INVESTMENT OBJECTIVES WILL BE ACHIEVED.
INVESTMENT PORTFOLIO INVESTMENT OBJECTIVE
--------------------------------------------- ----------------------------------------------
AMERICAN FUNDS INSURANCE SERIES(R)
(CLASS 4)
American Funds Global Small Seeks long-term growth of capital.
Capitalization Fund
BLACKROCK VARIABLE SERIES FUNDS,
INC. (CLASS III)
BlackRock Global Allocation V.I. Fund Seeks high total investment return.
BRIGHTHOUSE FUNDS TRUST I (FORMERLY
MET INVESTORS SERIES TRUST)
AB Global Dynamic Allocation Portfolio Seeks capital appreciation and current
(Class B) income.
Allianz Global Investors Dynamic Multi- Seeks total return.
Asset Plus Portfolio (Class B)
American Funds(R) Balanced Allocation Seeks a balance between a high level of
Portfolio (Class C) current income and growth of capital, with a
greater emphasis on growth of capital.
American Funds(R) Growth Allocation Seeks growth of capital.
Portfolio (Class C)
American Funds(R) Growth Portfolio Seeks to achieve growth of capital.
(Class C)
American Funds(R) Moderate Allocation Seeks a high total return in the form of
Portfolio (Class C) income and growth of capital, with a greater
emphasis on income.
AQR Global Risk Balanced Portfolio Seeks total return.
(Class B)
BlackRock Global Tactical Strategies Seeks capital appreciation and current
Portfolio (Class B) income.
BlackRock High Yield Portfolio (Class B) Seeks to maximize total return, consistent
with income generation and prudent
investment management.
Brighthouse Asset Allocation 100 Portfolio Seeks growth of capital.
(Class B) (formerly MetLife Asset
Allocation 100 Portfolio)
Brighthouse Balanced Plus Portfolio Seeks a balance between a high level of
(Class B) (formerly MetLife Balanced Plus current income and growth of capital, with a
Portfolio) greater emphasis on growth of capital.
Brighthouse Small Cap Value Portfolio Seeks long-term capital appreciation.
(Class B) (formerly MetLife Small Cap
Value Portfolio)
Brighthouse/Aberdeen Emerging Markets Seeks capital appreciation.
Equity Portfolio (Class B) (formerly Met/
Aberdeen Emerging Markets Equity
Portfolio)
Brighthouse/Artisan International Seeks maximum long-term capital growth.
Portfolio (Class B) (formerly Met/Artisan
International Portfolio)
INVESTMENT PORTFOLIO INVESTMENT ADVISER/SUBADVISER
--------------------------------------------- ----------------------------------------
AMERICAN FUNDS INSURANCE SERIES(R)
(CLASS 4)
American Funds Global Small Capital Research and Management
Capitalization Fund Company
BLACKROCK VARIABLE SERIES FUNDS,
INC. (CLASS III)
BlackRock Global Allocation V.I. Fund BlackRock Advisors, LLC
BRIGHTHOUSE FUNDS TRUST I (FORMERLY
MET INVESTORS SERIES TRUST)
AB Global Dynamic Allocation Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: AllianceBernstein L.P.
Allianz Global Investors Dynamic Multi- Brighthouse Investment Advisers, LLC
Asset Plus Portfolio (Class B) Subadviser: Allianz Global Investors
U.S. LLC
American Funds(R) Balanced Allocation Brighthouse Investment Advisers, LLC
Portfolio (Class C)
American Funds(R) Growth Allocation Brighthouse Investment Advisers, LLC
Portfolio (Class C)
American Funds(R) Growth Portfolio Brighthouse Investment Advisers, LLC;
(Class C) Capital Research and Management
Company
American Funds(R) Moderate Allocation Brighthouse Investment Advisers, LLC
Portfolio (Class C)
AQR Global Risk Balanced Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: AQR Capital Management, LLC
BlackRock Global Tactical Strategies Brighthouse Investment Advisers, LLC
Portfolio (Class B) Subadviser: BlackRock Financial
Management, Inc.
BlackRock High Yield Portfolio (Class B) Brighthouse Investment Advisers, LLC
Subadviser: BlackRock Financial
Management, Inc.
Brighthouse Asset Allocation 100 Portfolio Brighthouse Investment Advisers, LLC
(Class B) (formerly MetLife Asset
Allocation 100 Portfolio)
Brighthouse Balanced Plus Portfolio Brighthouse Investment Advisers, LLC
(Class B) (formerly MetLife Balanced Plus Subadviser: Overlay Portion: Pacific
Portfolio) Investment Management Company LLC
Brighthouse Small Cap Value Portfolio Brighthouse Investment Advisers, LLC
(Class B) (formerly MetLife Small Cap Subadvisers: Delaware Investments Fund
Value Portfolio) Advisers; Wells Capital Management
Incorporated
Brighthouse/Aberdeen Emerging Markets Brighthouse Investment Advisers, LLC
Equity Portfolio (Class B) (formerly Met/ Subadviser: Aberdeen Asset Managers
Aberdeen Emerging Markets Equity Limited
Portfolio)
Brighthouse/Artisan International Brighthouse Investment Advisers, LLC
Portfolio (Class B) (formerly Met/Artisan Subadviser: Artisan Partners Limited
International Portfolio) Partnership
B-1
INVESTMENT PORTFOLIO INVESTMENT OBJECTIVE
--------------------------------------------- ------------------------------------------------
Brighthouse/Eaton Vance Floating Rate Seeks a high level of current income.
Portfolio (Class B) (formerly Met/Eaton
Vance Floating Rate Portfolio)
Brighthouse/Franklin Low Duration Total Seeks a high level of current income, while
Return Portfolio (Class B) (formerly Met/ seeking preservation of shareholders' capital.
Franklin Low Duration Total Return
Portfolio)
Brighthouse/Templeton International Bond Seeks current income with capital
Portfolio (Class B) (formerly Met/ appreciation and growth of income.
Templeton International Bond Portfolio)
Brighthouse/Wellington Large Cap Seeks long-term capital appreciation.
Research Portfolio (Class B) (formerly
Met/Wellington Large Cap Research
Portfolio)
Clarion Global Real Estate Portfolio Seeks total return through investment in real
(Class B) estate securities, emphasizing both capital
appreciation and current income.
ClearBridge Aggressive Growth Portfolio Seeks capital appreciation.
(Class B)
Goldman Sachs Mid Cap Value Portfolio Seeks long-term capital appreciation.
(Class B)
Harris Oakmark International Portfolio Seeks long-term capital appreciation.
(Class B)
Invesco Balanced-Risk Allocation Portfolio Seeks total return.
(Class B)
Invesco Comstock Portfolio (Class B) Seeks capital growth and income.
Invesco Mid Cap Value Portfolio (Class B) Seeks high total return by investing in equity
securities of mid-sized companies.
Invesco Small Cap Growth Portfolio Seeks long-term growth of capital.
(Class B)
JPMorgan Core Bond Portfolio (Class B) Seeks to maximize total return.
JPMorgan Global Active Allocation Seeks capital appreciation and current
Portfolio (Class B) income.
JPMorgan Small Cap Value Portfolio Seeks long-term capital growth.
(Class B)
Loomis Sayles Global Markets Portfolio Seeks high total investment return through a
(Class B) combination of capital appreciation and
income.
MetLife Multi-Index Targeted Risk Seeks a balance between growth of capital
Portfolio (Class B) and current income, with a greater emphasis
on growth of capital.
MFS(R) Research International Portfolio Seeks capital appreciation.
(Class B)
Morgan Stanley Mid Cap Growth Seeks capital appreciation.
Portfolio (Class B)
Oppenheimer Global Equity Portfolio Seeks capital appreciation.
(Class B)
PanAgora Global Diversified Risk Seeks total return.
Portfolio (Class B)
PIMCO Inflation Protected Bond Portfolio Seeks maximum real return, consistent with
(Class B) preservation of capital and prudent
investment management.
PIMCO Total Return Portfolio (Class B) Seeks maximum total return, consistent with
the preservation of capital and prudent
investment management.
INVESTMENT PORTFOLIO INVESTMENT ADVISER/SUBADVISER
--------------------------------------------- ---------------------------------------------
Brighthouse/Eaton Vance Floating Rate Brighthouse Investment Advisers, LLC
Portfolio (Class B) (formerly Met/Eaton Subadviser: Eaton Vance Management
Vance Floating Rate Portfolio)
Brighthouse/Franklin Low Duration Total Brighthouse Investment Advisers, LLC
Return Portfolio (Class B) (formerly Met/ Subadviser: Franklin Advisers, Inc.
Franklin Low Duration Total Return
Portfolio)
Brighthouse/Templeton International Bond Brighthouse Investment Advisers, LLC
Portfolio (Class B) (formerly Met/ Subadviser: Franklin Advisers, Inc.
Templeton International Bond Portfolio)
Brighthouse/Wellington Large Cap Brighthouse Investment Advisers, LLC
Research Portfolio (Class B) (formerly Subadviser: Wellington Management
Met/Wellington Large Cap Research Company LLP
Portfolio)
Clarion Global Real Estate Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: CBRE Clarion Securities LLC
ClearBridge Aggressive Growth Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: ClearBridge Investments, LLC
Goldman Sachs Mid Cap Value Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: Goldman Sachs Asset
Management, L.P.
Harris Oakmark International Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: Harris Associates L.P.
Invesco Balanced-Risk Allocation Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: Invesco Advisers, Inc.
Invesco Comstock Portfolio (Class B) Brighthouse Investment Advisers, LLC
Subadviser: Invesco Advisers, Inc.
Invesco Mid Cap Value Portfolio (Class B) Brighthouse Investment Advisers, LLC
Subadviser: Invesco Advisers, Inc.
Invesco Small Cap Growth Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: Invesco Advisers, Inc.
JPMorgan Core Bond Portfolio (Class B) Brighthouse Investment Advisers, LLC
Subadviser: J.P. Morgan Investment
Management Inc.
JPMorgan Global Active Allocation Brighthouse Investment Advisers, LLC
Portfolio (Class B) Subadviser: J.P. Morgan Investment
Management Inc.
JPMorgan Small Cap Value Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: J.P. Morgan Investment
Management Inc.
Loomis Sayles Global Markets Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: Loomis, Sayles & Company, L.P.
MetLife Multi-Index Targeted Risk Brighthouse Investment Advisers, LLC
Portfolio (Class B) Subadviser: Overlay Portion: MetLife
Investment Advisors, LLC
MFS(R) Research International Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: Massachusetts Financial Services
Company
Morgan Stanley Mid Cap Growth Brighthouse Investment Advisers, LLC
Portfolio (Class B) Subadviser: Morgan Stanley Investment
Management Inc.
Oppenheimer Global Equity Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: OppenheimerFunds, Inc.
PanAgora Global Diversified Risk Brighthouse Investment Advisers, LLC
Portfolio (Class B) Subadviser: PanAgora Asset Management,
Inc.
PIMCO Inflation Protected Bond Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: Pacific Investment Management
Company LLC
PIMCO Total Return Portfolio (Class B) Brighthouse Investment Advisers, LLC
Subadviser: Pacific Investment Management
Company LLC
B-2
INVESTMENT PORTFOLIO INVESTMENT OBJECTIVE
-------------------------------------------- -----------------------------------------------
Pyramis(R) Government Income Portfolio Seeks a high level of current income,
(Class B) consistent with preservation of principal.
Pyramis(R) Managed Risk Portfolio Seeks total return.
(Class B)
Schroders Global Multi-Asset Portfolio Seeks capital appreciation and current
(Class B) income.
SSGA Growth and Income ETF Portfolio Seeks growth of capital and income.
(Class B)
SSGA Growth ETF Portfolio (Class B) Seeks growth of capital.
T. Rowe Price Large Cap Value Portfolio Seeks long-term capital appreciation by
(Class B) investing in common stocks believed to be
undervalued. Income is a secondary
objective.
TCW Core Fixed Income Portfolio Seeks to maximize total return consistent
(Class B) with the preservation of capital.
BRIGHTHOUSE FUNDS TRUST II
(FORMERLY METROPOLITAN SERIES
FUND)
Baillie Gifford International Stock Seeks long-term growth of capital.
Portfolio (Class B)
BlackRock Bond Income Portfolio Seeks a competitive total return primarily
(Class B) from investing in fixed-income securities.
BlackRock Capital Appreciation Portfolio Seeks long-term growth of capital.
(Class B)
BlackRock Large Cap Value Portfolio Seeks long-term growth of capital.
(Class B)
BlackRock Ultra-Short Term Bond Seeks a high level of current income
Portfolio (Class B) consistent with preservation of capital.
Brighthouse Asset Allocation 20 Portfolio Seeks a high level of current income, with
(Class B) (formerly MetLife Asset growth of capital as a secondary objective.
Allocation 20 Portfolio)
Brighthouse Asset Allocation 40 Portfolio Seeks high total return in the form of income
(Class B) (formerly MetLife Asset and growth of capital, with a greater
Allocation 40 Portfolio) emphasis on income.
Brighthouse Asset Allocation 60 Portfolio Seeks a balance between a high level of
(Class B) (formerly MetLife Asset current income and growth of capital, with a
Allocation 60 Portfolio) greater emphasis on growth of capital.
Brighthouse Asset Allocation 80 Portfolio Seeks growth of capital.
(Class B) (formerly MetLife Asset
Allocation 80 Portfolio)
Brighthouse/Dimensional International Seeks long-term capital appreciation.
Small Company Portfolio (Class B)
(formerly Met/Dimensional International
Small Company Portfolio)
Brighthouse/Wellington Core Equity Seeks to provide a growing stream of income
Opportunities Portfolio (Class B) over time and, secondarily, long-term capital
(formerly Met/Wellington Core Equity appreciation and current income.
Opportunities Portfolio)
Jennison Growth Portfolio (Class B) Seeks long-term growth of capital.
Loomis Sayles Small Cap Core Portfolio Seeks long-term capital growth from
(Class B) investments in common stocks or other
equity securities.
MetLife Aggregate Bond Index Portfolio Seeks to track the performance of the
(Class G) (formerly Barclays Aggregate Bloomberg Barclays U.S. Aggregate Bond
Bond Index Portfolio) Index.
INVESTMENT PORTFOLIO INVESTMENT ADVISER/SUBADVISER
-------------------------------------------- ---------------------------------------------
Pyramis(R) Government Income Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: FIAM LLC
Pyramis(R) Managed Risk Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: FIAM LLC
Schroders Global Multi-Asset Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadvisers: Schroder Investment
Management North America Inc.; Schroder
Investment Management North America
Limited
SSGA Growth and Income ETF Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: SSGA Funds Management, Inc.
SSGA Growth ETF Portfolio (Class B) Brighthouse Investment Advisers, LLC
Subadviser: SSGA Funds Management, Inc.
T. Rowe Price Large Cap Value Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: T. Rowe Price Associates, Inc.
TCW Core Fixed Income Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: TCW Investment Management
Company LLC
BRIGHTHOUSE FUNDS TRUST II
(FORMERLY METROPOLITAN SERIES
FUND)
Baillie Gifford International Stock Brighthouse Investment Advisers, LLC
Portfolio (Class B) Subadviser: Baillie Gifford Overseas Limited
BlackRock Bond Income Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: BlackRock Advisors, LLC
BlackRock Capital Appreciation Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: BlackRock Advisors, LLC
BlackRock Large Cap Value Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: BlackRock Advisors, LLC
BlackRock Ultra-Short Term Bond Brighthouse Investment Advisers, LLC
Portfolio (Class B) Subadviser: BlackRock Advisors, LLC
Brighthouse Asset Allocation 20 Portfolio Brighthouse Investment Advisers, LLC
(Class B) (formerly MetLife Asset
Allocation 20 Portfolio)
Brighthouse Asset Allocation 40 Portfolio Brighthouse Investment Advisers, LLC
(Class B) (formerly MetLife Asset
Allocation 40 Portfolio)
Brighthouse Asset Allocation 60 Portfolio Brighthouse Investment Advisers, LLC
(Class B) (formerly MetLife Asset
Allocation 60 Portfolio)
Brighthouse Asset Allocation 80 Portfolio Brighthouse Investment Advisers, LLC
(Class B) (formerly MetLife Asset
Allocation 80 Portfolio)
Brighthouse/Dimensional International Brighthouse Investment Advisers, LLC
Small Company Portfolio (Class B) Subadviser: Dimensional Fund Advisors LP
(formerly Met/Dimensional International
Small Company Portfolio)
Brighthouse/Wellington Core Equity Brighthouse Investment Advisers, LLC
Opportunities Portfolio (Class B) Subadviser: Wellington Management
(formerly Met/Wellington Core Equity Company LLP
Opportunities Portfolio)
Jennison Growth Portfolio (Class B) Brighthouse Investment Advisers, LLC
Subadviser: Jennison Associates LLC
Loomis Sayles Small Cap Core Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: Loomis, Sayles & Company, L.P.
MetLife Aggregate Bond Index Portfolio Brighthouse Investment Advisers, LLC
(Class G) (formerly Barclays Aggregate Subadviser: MetLife Investment Advisors,
Bond Index Portfolio) LLC
B-3
INVESTMENT PORTFOLIO INVESTMENT OBJECTIVE
-------------------------------------------- -------------------------------------------------
MetLife Mid Cap Stock Index Portfolio Seeks to track the performance of the
(Class G) Standard & Poor's MidCap 400(R) Composite
Stock Price Index.
MetLife MSCI EAFE(R) Index Portfolio Seeks to track the performance of the MSCI
(Class G) (formerly MSCI EAFE(R) Index EAFE(R) Index.
Portfolio)
MetLife Russell 2000(R) Index Portfolio Seeks to track the performance of the Russell
(Class G) (formerly Russell 2000(R) Index 2000(R) Index.
Portfolio)
MetLife Stock Index Portfolio (Class G) Seeks to track the performance of the
Standard & Poor's 500(R) Composite Stock
Price Index.
MFS(R) Value Portfolio (Class B) Seeks capital appreciation.
Neuberger Berman Genesis Portfolio Seeks high total return, consisting principally
(Class B) of capital appreciation.
T. Rowe Price Large Cap Growth Portfolio Seeks long-term growth of capital.
(Class B)
T. Rowe Price Small Cap Growth Portfolio Seeks long-term capital growth.
(Class G)
VanEck Global Natural Resources Seeks long-term capital appreciation with
Portfolio (Class B) (formerly Van Eck income as a secondary consideration.
Global Natural Resources Portfolio)
Western Asset Management Strategic Bond Seeks to maximize total return consistent
Opportunities Portfolio (Class B) with preservation of capital.
Western Asset Management Seeks to maximize total return consistent
U.S. Government Portfolio (Class B) with preservation of capital and maintenance
of liquidity.
IVY VARIABLE INSURANCE PORTFOLIOS
Ivy VIP Asset Strategy Seeks to provide total return.
MORGAN STANLEY VARIABLE INSURANCE
FUND, INC. (CLASS II)
Global Infrastructure Portfolio Seeks both capital appreciation and current
income.
OPPENHEIMER VARIABLE ACCOUNT
FUNDS (SERVICE SHARES)
Oppenheimer Global Multi-Alternatives Seeks total return.
Fund/VA
PIMCO VARIABLE INSURANCE TRUST
(CLASS M)
PIMCO CommodityRealReturn(R) Strategy Seeks maximum real return, consistent with
Portfolio prudent investment management.
PIMCO Emerging Markets Bond Portfolio Seeks maximum total return, consistent with
preservation of capital and prudent
investment management.
PIMCO Unconstrained Bond Portfolio Seeks maximum long-term return, consistent
with preservation of capital and prudent
investment management.
VANECK VIP TRUST (CLASS S)
INVESTMENT PORTFOLIO INVESTMENT ADVISER/SUBADVISER
-------------------------------------------- ---------------------------------------------
MetLife Mid Cap Stock Index Portfolio Brighthouse Investment Advisers, LLC
(Class G) Subadviser: MetLife Investment Advisors,
LLC
MetLife MSCI EAFE(R) Index Portfolio Brighthouse Investment Advisers, LLC
(Class G) (formerly MSCI EAFE(R) Index Subadviser: MetLife Investment Advisors,
Portfolio) LLC
MetLife Russell 2000(R) Index Portfolio Brighthouse Investment Advisers, LLC
(Class G) (formerly Russell 2000(R) Index Subadviser: MetLife Investment Advisors,
Portfolio) LLC
MetLife Stock Index Portfolio (Class G) Brighthouse Investment Advisers, LLC
Subadviser: MetLife Investment Advisors,
LLC
MFS(R) Value Portfolio (Class B) Brighthouse Investment Advisers, LLC
Subadviser: Massachusetts Financial Services
Company
Neuberger Berman Genesis Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: Neuberger Berman Investment
Advisers LLC
T. Rowe Price Large Cap Growth Portfolio Brighthouse Investment Advisers, LLC
(Class B) Subadviser: T. Rowe Price Associates, Inc.
T. Rowe Price Small Cap Growth Portfolio Brighthouse Investment Advisers, LLC
(Class G) Subadviser: T. Rowe Price Associates, Inc.
VanEck Global Natural Resources Brighthouse Investment Advisers, LLC
Portfolio (Class B) (formerly Van Eck Subadviser: Van Eck Associates Corporation
Global Natural Resources Portfolio)
Western Asset Management Strategic Bond Brighthouse Investment Advisers, LLC
Opportunities Portfolio (Class B) Subadviser: Western Asset Management
Company
Western Asset Management Brighthouse Investment Advisers, LLC
U.S. Government Portfolio (Class B) Subadviser: Western Asset Management
Company
IVY VARIABLE INSURANCE PORTFOLIOS
Ivy VIP Asset Strategy Ivy Investment Management Company
MORGAN STANLEY VARIABLE INSURANCE
FUND, INC. (CLASS II)
Global Infrastructure Portfolio Morgan Stanley Investment Management
Inc.
Subadvisers: Morgan Stanley Investment
Management Company; Morgan Stanley
Investment Management Limited
OPPENHEIMER VARIABLE ACCOUNT
FUNDS (SERVICE SHARES)
Oppenheimer Global Multi-Alternatives OFI Global Asset Management, Inc.
Fund/VA Subadvisers: OppenheimerFunds, Inc.;
Cornerstone Real Estate Advisers LLC; OFI
SteelPath, Inc.
PIMCO VARIABLE INSURANCE TRUST
(CLASS M)
PIMCO CommodityRealReturn(R) Strategy Pacific Investment Management Company
Portfolio LLC
PIMCO Emerging Markets Bond Portfolio Pacific Investment Management Company
LLC
PIMCO Unconstrained Bond Portfolio Pacific Investment Management Company
LLC
VANECK VIP TRUST (CLASS S)
B-4
INVESTMENT PORTFOLIO INVESTMENT OBJECTIVE INVESTMENT ADVISER/SUBADVISER
------------------------------------- ----------------------------------------------- -------------------------------
VanEck VIP Long/Short Equity Index Seeks to track, before fees and expenses, the Van Eck Associates Corporation
Fund performance of the MVIS(TM) North America
Long/Short Equity Index.
B-5
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APPENDIX C
DEATH BENEFIT EXAMPLE
The purpose of these examples is to illustrate the operation of the optional
Return of Premium death benefit. The investment results shown are hypothetical
and are not representative of past or future performance. Actual investment
results may be more or less than those shown and will depend upon a number of
factors, including the investment allocation made by a contract Owner and the
investment experience of the Investment Portfolios chosen. THE EXAMPLES DO NOT
REFLECT THE DEDUCTION OF FEES AND EXPENSES, WITHDRAWAL CHARGES (NOT APPLICABLE
IF YOU SELECTED THE C SHARE OPTION) OR INCOME TAXES AND TAX PENALTIES.
RETURN OF PREMIUM DEATH BENEFIT
The purpose of this example is to show how partial withdrawals reduce the
Return of Premium death benefit proportionately by the percentage reduction in
Account Value attributable to each partial withdrawal.
DATE AMOUNT
------------------------------ -------------------------
A Initial Purchase Payment 9/1/2017 $100,000
B Account Value 9/1/2018 $104,000
(First Contract Anniversary)
C Death Benefit As of 9/1/2018 $104,000
(= greater of A and B)
D Account Value 9/1/2019 $ 90,000
(Second Contract Anniversary)
E Death Benefit 9/1/2019 $100,000
(= greater of A and D)
F Withdrawal 9/2/2019 $ 9,000
G Percentage Reduction in Account 9/2/2019 10%
Value (= F/D)
H Account Value after Withdrawal 9/2/2019 $ 81,000
(= D-F)
I Purchase Payments Reduced for As of 9/2/2019 $ 90,000
Withdrawal (= A-(A x G))
J Death Benefit 9/2/2019 $ 90,000
(= greater of H and I)
Notes to Example
----------------
Purchaser is age 60 at issue.
The Account Values on 9/1/2019 and 9/2/2019 are assumed to be equal prior to
the withdrawal.
C-1
STATEMENT OF ADDITIONAL INFORMATION
INDIVIDUAL VARIABLE DEFERRED ANNUITY CONTRACT
ISSUED BY
BRIGHTHOUSE SEPARATE ACCOUNT A
AND
BRIGHTHOUSE LIFE INSURANCE COMPANY
BRIGHTHOUSE INVESTMENT PORTFOLIO ARCHITECT(SM) - STANDARD VERSION
BRIGHTHOUSE INVESTMENT PORTFOLIO ARCHITECT(SM) - C SHARE OPTION
THIS IS NOT A PROSPECTUS. THIS STATEMENT OF ADDITIONAL INFORMATION SHOULD BE
READ IN CONJUNCTION WITH THE PROSPECTUS DATED MAY 1, 2017, FOR THE INDIVIDUAL
VARIABLE DEFERRED ANNUITY CONTRACT THAT IS DESCRIBED HEREIN.
THE PROSPECTUS CONCISELY SETS FORTH INFORMATION THAT A PROSPECTIVE INVESTOR
OUGHT TO KNOW BEFORE INVESTING. FOR A COPY OF THE PROSPECTUS WRITE US AT: P.O.
BOX 10366, DES MOINES, IOWA 50306-0366, OR CALL (800) 343-8496.
THIS STATEMENT OF ADDITIONAL INFORMATION IS DATED MAY 1, 2017.
SAI-0517IPAUSA
1
TABLE OF CONTENTS PAGE
COMPANY.................................................. 3
INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM..................................................... 4
CUSTODIAN................................................ 4
DISTRIBUTION............................................. 4
Reduction or Elimination of the Withdrawal Charge........ 6
CALCULATION OF PERFORMANCE INFORMATION................... 6
Total Return............................................. 6
Historical Unit Values................................... 7
Reporting Agencies....................................... 7
ANNUITY PROVISIONS....................................... 7
Variable Annuity......................................... 7
Fixed Annuity............................................ 9
Mortality and Expense Guarantee.......................... 9
LEGAL OR REGULATORY RESTRICTIONS ON
TRANSACTIONS............................................. 9
ADDITIONAL FEDERAL TAX CONSIDERATIONS.................... 9
CONDENSED FINANCIAL INFORMATION.......................... 13
FINANCIAL STATEMENTS..................................... 21
2
COMPANY
Brighthouse Life Insurance Company (BLIC or the Company), prior to March 6,
2017 known as MetLife Insurance Company USA, is a stock life insurance company
originally chartered in Connecticut in 1863 and currently subject to the laws
of the State of Delaware. BLIC is licensed to conduct business in all states of
the United States, except New York, and in the District of Columbia, Puerto
Rico, Guam, the U.S. and British Virgin Islands and the Bahamas. BLIC currently
is a direct, wholly-owned subsidiary of MetLife, Inc., (MetLife) a
publicly-traded company (see "Planned Separation from MetLife, Inc." below).
MetLife, through its subsidiaries and affiliates, is a leading provider of
insurance and financial services to individuals and institutional customers.
BLIC's principal executive offices are located at 11225 North Community House
Road, Charlotte, NC 28277.
BRIGHTHOUSE LIFE INSURANCE COMPANY HISTORY
MetLife Insurance Company USA: From the close of business on November 14, 2014
-----------------------------
to March 6, 2017, BLIC was called MetLife Insurance Company USA (MetLife USA).
MetLife USA was established following the close of business on November 14,
2014, when MetLife Investors USA Insurance Company, a wholly-owned subsidiary
of MetLife Insurance Company of Connecticut, MetLife Investors Insurance
Company and Exeter Reassurance Company, Ltd. were merged into MetLife Insurance
Company of Connecticut, and MetLife Insurance Company of Connecticut was then
renamed MetLife Insurance Company USA. Simultaneously, MetLife Insurance
Company USA changed its domicile from Connecticut to the state of Delaware. As
a result of this merger, MetLife USA assumed legal ownership of all of the
assets of these predecessor companies, including assets held in the separate
accounts, and became responsible for administering the contracts and paying any
benefits due under all contracts issued by each of its corporate predecessors.
These predecessor companies that issued contracts on and prior to November 14,
2014 were the following:
o MetLife Insurance Company of Connecticut: MetLife Insurance Company of
----------------------------------------
Connecticut (MICC), originally chartered in Connecticut in 1863, was known
as Travelers Insurance Company prior to May 1, 2006. MICC changed its name
to MetLife Insurance Company USA and its state of domicile to Delaware
after November 14, 2014 as described under "MetLife Insurance Company USA"
above.
o MetLife Life and Annuity Company of Connecticut: MetLife Life and
-----------------------------------------------
Annuity Company of Connecticut (MLAC), originally chartered in
Connecticut in 1973, was known as Travelers Life and Annuity Company
prior to May 1, 2006. On or about December 7, 2007, MLAC merged with
and into MICC.
o MetLife Investors USA Insurance Company: MetLife Investors USA Insurance
---------------------------------------
Company (MLI USA), originally chartered in Delaware in 1960, was known as
Security First Life Insurance Company prior to January 8, 2001. MLI USA
was merged into BLIC after the close of business on November 14, 2014, as
described under "MetLife Insurance Company USA" above.
o MetLife Investors Insurance Company: MetLife Investors Insurance Company
-----------------------------------
(MLI), originally chartered in Missouri in 1981, was known as Cova
Financial Services Life Insurance Company prior to February 12, 2001. MLI
was merged into BLIC after the close of business on November 14, 2014, as
described under "MetLife Insurance Company USA" above.
o MetLife Investors Insurance Company of California: MetLife Investors
-------------------------------------------------
Insurance Company of California (MLI-CA), originally chartered in
California in 1972, was known as Cova Financial Life Insurance
Company prior to February 12, 2001. On November 9, 2006 MLI-CA merged
with and into MLI.
PLANNED SEPARATION FROM METLIFE, INC. In January 2016, MetLife announced its
plan to pursue the separation of a substantial portion of its U.S. retail
business. In preparation for the planned separation, in August 2016 MetLife
formed a new, wholly-owned Delaware holding company, Brighthouse Financial,
Inc. (Brighthouse Financial), which filed a registration statement on Form 10
(the Form 10) with the U.S. Securities and Exchange Commission (the SEC) in
October 2016, as amended in December 2016, reflecting MetLife's current
initiative to conduct the separation in the form of a spin-off.
To effect the separation, first, MetLife expects to undertake the restructuring
described in more detail in the Form 10. The restructuring would result in
future Brighthouse
3
Financial subsidiaries, including BLIC, being wholly-owned subsidiaries of
Brighthouse Financial. Following the restructuring, MetLife, Inc. would
distribute at least 80.1% of Brighthouse Financial's common stock to MetLife's
shareholders (the Distribution), and Brighthouse Financial would become a
separate, publicly traded company. The separation remains subject to certain
conditions including, among others, obtaining final approval from the MetLife
board of directors, receipt of a favorable IRS ruling and an opinion from
MetLife's tax advisor regarding certain U.S. federal income tax matters,
receipt of the approval of state insurance and other regulatory authorities and
an SEC declaration of the effectiveness of the Form 10.
Following the Distribution, if it occurs, BLIC will be a wholly-owned
subsidiary of, and ultimately controlled by, Brighthouse Financial. MetLife
currently plans to dispose of its remaining shares of Brighthouse Financial
common stock as soon as practicable following the Distribution, but in no event
later than five years after the Distribution. For more information about
Brighthouse Financial and the Distribution, please see the most recent
amendment to Brighthouse Financial's Form 10 (SEC File No. 001-37905),
available via the SEC's EDGAR system on its website at
https://www.sec.gov/edgar/searchedgar/companysearch.html.
No assurances can be given regarding the final form the Distribution (or any
alternative separation transaction) may take or the specific terms thereof, or
that the Distribution (or any other form of separation) will in fact occur.
However, any separation transaction will not affect the terms or conditions of
your variable contract. BLIC will remain fully responsible for its contractual
obligations to variable contract owners, and you should carefully consider the
potential impact of any separation transaction that may occur on BLIC's
financial strength and claims-paying ability.
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The financial statements and financial highlights comprising each of the
Sub-Accounts of Brighthouse Separate Account A (formerly MetLife Investors USA
Separate Account A) included in this Statement of Additional Information, have
been audited by Deloitte & Touche LLP, an independent registered public
accounting firm, as stated in their report appearing herein. Such financial
statements and financial highlights are included in reliance upon the report of
such firm given upon their authority as experts in accounting and auditing.
The consolidated financial statements and related financial statement schedules
of Brighthouse Life Insurance Company (formerly MetLife Insurance Company USA)
and subsidiaries included in this Statement of Additional Information, have
been audited by Deloitte & Touche LLP, an independent registered public
accounting firm, as stated in their report appearing herein. Such financial
statements and financial statement schedules are included in reliance upon the
report of such firm given upon their authority as experts in accounting and
auditing.
The principal business address of Deloitte & Touche LLP is 30 Rockefeller
Plaza, New York, New York 10112-0015.
CUSTODIAN
Brighthouse Life Insurance Company, 11225 North Community House Road,
Charlotte, NC 28277, is the custodian of the assets of the Separate Account.
The custodian has custody of all cash of the Separate Account and handles the
collection of proceeds of shares of the underlying funds bought and sold by the
Separate Account.
DISTRIBUTION
Information about the distribution of the contracts is contained in the
prospectus. (See "Other Information.") Additional information is provided
below.
Currently the contracts are not available for new sales.
Brighthouse Securities, LLC (Distributor) serves as principal underwriter for
the contracts. Distributor and the Company are affiliates because they are both
under common control of MetLife, Inc. Distributor's home office is located at
11225 North Community House Road, Charlotte, NC 28277. Distributor is
registered as a broker-dealer with the Securities and Exchange Commission under
the Securities Exchange Act of 1934 and is a member of the Financial Industry
Regulatory Authority (FINRA). Distributor has entered into selling agreements
with other broker-dealers ("selling firms") and compensates them for their
services.
MetLife Investors Distribution Company (MLIDC) served as principal underwriter
and distributor prior to March 6, 2017. The following table shows the amount of
4
commissions paid to and the amount of commissions retained by MLIDC over the
past three years:
Aggregate Amount of
Commissions Retained
Aggregate Amount of by Distributor After
Commissions Paid to Payments to Selling
Fiscal year Distributor Firms
------------- --------------------- ---------------------
2016 $568,161,672 $0
2015 $568,720,128 $0
2014 $463,545,565 $0
Distributor passes through commissions to selling firms for their sales. In
addition we pay compensation to Distributor to offset its expenses, including
compensation costs, marketing and distribution expenses, advertising,
wholesaling, printing, and other expenses of distributing the contracts.
As noted in the prospectus, we and Distributor pay compensation to all selling
firms in the form of commissions and certain types of non-cash compensation. We
and Distributor may pay additional compensation to selected firms, including
marketing allowances, introduction fees, persistency payments, preferred status
fees and industry conference fees. The terms of any particular agreement
governing compensation may vary among selling firms and the amounts may be
significant. The amount of additional compensation (non-commission amounts)
paid to selected selling firms during 2016 ranged from $1,469 to $13,185,322.*
The amount of commissions paid to selected selling firms during 2016 ranged
from $4,059 to $44,666,849. The amount of total compensation (includes
non-commission as well as commission amounts) paid to selected selling firms
during 2016 ranged from $7,831 to $66,151,990.*
* For purposes of calculating this range, the additional compensation
(non-commission) amounts received by a selling firm includes additional
compensation received by the firm for the sale of insurance products issued by
our affiliates Brighthouse Life Insurance Company of NY (formerly, First
MetLife Investors Insurance Company) and Metropolitan Life Insurance Company.
The following list sets forth the names of selling firms that received
additional compensation in 2016 in connection with the sale of our variable
annuity contracts, variable life policies and other insurance products
(including the contracts offered by the prospectus). The selling firms are
listed in alphabetical order.
Ameriprise Financial Services, Inc.
AXA Network LLC
BBVA Compass Investment Solutions, Inc.
Cambridge Investment Research
Capital Investments Group, Inc.
Centaurus Financial, Inc.
Cetera Advisor Networks LLC
CFD Investment, Inc.
Citigroup Global Markets, Inc.
Citizens Securities
Commonwealth Financial Network
Community America Financial Solutions, LLC
CUNA Brokerage Services
CUSO Financial Services, L.P.
Edward D. Jones & Co., L.P.
Equity Services, Inc.
Essex National Securities, Inc.
First Heartland Capital, Inc.
Founders Financial Securities, LLC
FSC Securities Corporation
H. D. Vest Investment Services, Inc.
Infinex Investments, Inc.
Invest Financial Corp.
Investacorp, Inc.
Investment Professionals, Inc.
Janney Montgomery Scott, LLC
Kestra Investment Services, LLC
Key Investment Services LLC
Lincoln Financial Advisors Corporation
Lincoln Financial Securities Corporation
Lincoln Investment Planning Inc.
LPL Financial Corp. Affiliates
Merrill Lynch, Inc.
MetLife Securities, Inc.
MML Investors Services, LLC
Morgan Stanley Smith Barney, LLC
National Planning Holdings
NEXT Financial Group
Parkland Securities, LLC
PFS Investments Inc.
ProEquities, Inc.
Raymond James & Associates, Inc.
RBC Wealth Management
Sigma Financial Corporation
5
Signator Financial Services, Inc.
Signator Investors, Inc.
Stifel, Nicolaus & Company, Incorporated
TFS Securities, Inc.
Transamerica Financial Advisors, Inc.
U.S. Bancorp Investments, Inc.
UBS Financial Services, Inc.
ValMark Securities, Inc.
Voya Financial Advisors, Inc.
Wells Fargo Advisors, LLC
There are other broker dealers who receive compensation for servicing our
contracts, and the Account Value of the contracts or the amount of added
Purchase Payments received may be included in determining their additional
compensation, if any.
REDUCTION OR ELIMINATION OF THE WITHDRAWAL CHARGE
The amount of the withdrawal charge on the Investment Portfolio Architect
contracts may be reduced or eliminated when sales of the contracts are made to
individuals or to a group of individuals in a manner that results in savings of
sales expenses. The entitlement to reduction of the withdrawal charge will be
determined by the Company after examination of all the relevant factors such
as:
1. The size and type of group to which sales are to be made will be
considered. Generally, the sales expenses for a larger group are less than
for a smaller group because of the ability to implement large numbers of
contracts with fewer sales contacts.
2. The total amount of Purchase Payments to be received will be considered.
Per contract sales expenses are likely to be less on larger Purchase
Payments than on smaller ones.
3. Any prior or existing relationship with the Company will be considered.
Per contract sales expenses are likely to be less when there is a prior
existing relationship because of the likelihood of implementing the
contract with fewer sales contacts.
4. There may be other circumstances, of which the Company is not presently
aware, which could result in reduced sales expenses.
If, after consideration of the foregoing factors, the Company determines that
there will be a reduction in sales expenses, the Company may provide for a
reduction or elimination of the withdrawal charge.
The withdrawal charge may be eliminated when the contracts are issued to an
officer, director or employee of the Company or any of its affiliates. In no
event will any reduction or elimination of the withdrawal charge be permitted
where the reduction or elimination will be unfairly discriminatory to any
person. In lieu of a withdrawal charge waiver, we may provide an Account Value
credit.
CALCULATION OF PERFORMANCE INFORMATION
TOTAL RETURN
From time to time, the Company may advertise performance data. Such data will
show the percentage change in the value of an Accumulation Unit based on the
performance of an Investment Portfolio over a period of time, usually a
calendar year, determined by dividing the increase (decrease) in value for that
unit by the Accumulation Unit value at the beginning of the period.
Any such advertisement will include total return figures for the time periods
indicated in the advertisement. Such total return figures will reflect the
deduction of the Separate Account product charges (including certain death
benefit rider charges), the expenses for the underlying Investment Portfolio
being advertised, and any applicable account fee or withdrawal charge. Premium
taxes are not reflected. The deduction of such charges would reduce any
percentage increase or make greater any percentage decrease.
The hypothetical value of a contract purchased for the time periods described
in the advertisement will be determined by using the actual Accumulation Unit
values for an initial $1,000 Purchase Payment, and deducting any applicable
account fee and any applicable sales charge to arrive at the ending
hypothetical value. The average annual total return is then determined by
computing the fixed interest rate that a $1,000 Purchase Payment would have to
earn annually, compounded annually, to grow to the hypothetical value at the
end of the time periods described. The formula used in these calculations is:
P (1 + T)n = ERV
Where:
P = a hypothetical initial payment of $1,000
6
T = average annual total return
n = number of years
ERV = ending redeemable value at the end of the time periods used
(or fractional portion thereof) of a hypothetical $1,000
payment made at the beginning of the 1, 5 or 10 year
periods used.
The Company may also advertise performance data which will be calculated in the
same manner as described above but which will not reflect the deduction of a
withdrawal charge. Premium taxes are not reflected. The deduction of such
charges would reduce any percentage increase or make greater any percentage
decrease.
Owners should note that the investment results of each Investment Portfolio
will fluctuate over time, and any presentation of the Investment Portfolio's
total return for any period should not be considered as a representation of
what an investment may earn or what the total return may be in any future
period.
HISTORICAL UNIT VALUES
The Company may also show historical Accumulation Unit values in certain
advertisements containing illustrations. These illustrations will be based on
actual Accumulation Unit values.
In addition, the Company may distribute sales literature which compares the
percentage change in Accumulation Unit values for any of the against
established market indices such as the Standard & Poor's 500 Composite Stock
Price Index, the Dow Jones Industrial Average or other management investment
companies which have investment objectives similar to the Investment Portfolio
being compared. The Standard & Poor's 500 Composite Stock Price Index is an
unmanaged, unweighted average of 500 stocks, the majority of which are listed
on the New York Stock Exchange. The Dow Jones Industrial Average is an
unmanaged, weighted average of thirty blue chip industrial corporations listed
on the New York Stock Exchange. Both the Standard & Poor's 500 Composite Stock
Price Index and the Dow Jones Industrial Average assume quarterly reinvestment
of dividends.
REPORTING AGENCIES
The Company may also distribute sales literature which compares the performance
of the Accumulation Unit values of the contracts with the unit values of
variable annuities issued by other insurance companies. Such information will
be derived from the Lipper Variable Insurance Products Performance Analysis
Service, the VARDS Report or from Morningstar.
The Lipper Variable Insurance Products Performance Analysis Service is
published by Lipper Analytical Services, Inc., a publisher of statistical data
which currently tracks the performance of thousands of investment companies.
The rankings compiled by Lipper may or may not reflect the deduction of
asset-based insurance charges. The Company's sales literature utilizing these
rankings will indicate whether or not such charges have been deducted. Where
the charges have not been deducted, the sales literature will indicate that if
the charges had been deducted, the ranking might have been lower.
The VARDS Report is a monthly variable annuity industry analysis compiled by
Variable Annuity Research & Data Service. The VARDS rankings may or may not
reflect the deduction of asset-based insurance charges. In addition, VARDS
prepares risk adjusted rankings, which consider the effects of market risk on
total return performance. This type of ranking may address the question as to
which funds provide the highest total return with the least amount of risk.
Other ranking services may be used as sources of performance comparison, such
as CDA/Weisenberger.
Morningstar rates a variable annuity against its peers with similar investment
objectives. Morningstar does not rate any variable annuity that has less than
three years of performance data.
ANNUITY PROVISIONS
VARIABLE ANNUITY
A variable annuity is an annuity with payments which: (1) are not predetermined
as to dollar amount; and (2) will vary in amount in proportion to the amount
that the net investment factor exceeds the assumed investment return selected.
The Adjusted Contract Value (the Account Value, less any applicable premium
taxes, account fee, and any prorated rider charge) will be applied to the
applicable Annuity Table to determine the first Annuity Payment. The Adjusted
Contract Value is determined on the annuity calculation date, which is a
Business Day no more than five (5) Business Days before the Annuity Date. The
dollar amount
7
of the first variable Annuity Payment is determined as follows: The first
variable Annuity Payment will be based upon the Annuity Option elected, the
Annuitant's age, the Annuitant's sex (where permitted by law), and the
appropriate variable Annuity Option table. Your annuity rates will not be less
than those guaranteed in your contract at the time of purchase for the assumed
investment return and Annuity Option elected. If, as of the annuity calculation
date, the then current variable Annuity Option rates applicable to this class
of contracts provide a first Annuity Payment greater than that which is
guaranteed under the same Annuity Option under this contract, the greater
payment will be made.
The dollar amount of variable Annuity Payments after the first payment is
determined as follows:
1. the dollar amount of the first variable Annuity Payment is divided by the
value of an Annuity Unit for each applicable Investment Portfolio as of
the annuity calculation date. This establishes the number of Annuity Units
for each monthly payment. The number of Annuity Units for each applicable
Investment Portfolio remains fixed during the annuity period, unless you
transfer values from the Investment Portfolio to another Investment
Portfolio;
2. the fixed number of Annuity Units per payment in each Investment Portfolio
is multiplied by the Annuity Unit value for that Investment Portfolio for
the Business Day for which the Annuity Payment is being calculated. This
result is the dollar amount of the payment for each applicable Investment
Portfolio, less any account fee. The account fee will be deducted pro rata
out of each Annuity Payment.
The total dollar amount of each variable Annuity Payment is the sum of all
Investment Portfolio variable Annuity Payments.
ANNUITY UNIT -- The initial Annuity Unit value for each Investment Portfolio of
the Separate Account was set by us.
The subsequent Annuity Unit value for each Investment Portfolio is determined
by multiplying the Annuity Unit value for the immediately preceding Business
Day by the net investment factor for the Investment Portfolio for the current
Business Day and multiplying the result by a factor for each day since the last
Business Day which represents the daily equivalent of the AIR you elected.
(1) the dollar amount of the first Annuity Payment is divided by the value of
an Annuity Unit as of the Annuity Date. This establishes the number of Annuity
Units for each monthly payment. The number of Annuity Units remains fixed
during the Annuity Payment period.
(2) the fixed number of Annuity Units is multiplied by the Annuity Unit value
for the last valuation period of the month preceding the month for which the
payment is due. This result is the dollar amount of the payment.
NET INVESTMENT FACTOR -- The net investment factor for each Investment
Portfolio is determined by dividing A by B and multiplying by (1-C) where:
A is (i) the net asset value per share of the portfolio at the end of the
current Business Day; plus
(ii) any dividend or capital gains per share declared on behalf of
such portfolio that has an ex-dividend date as of the current
Business Day.
B is the net asset value per share of the portfolio for the immediately
preceding Business Day.
C is (i) the Separate Account product charges and for each day since the last
Business Day. The daily charge is equal to the annual Separate
Account product charges divided by 365; plus
(ii) a charge factor, if any, for any taxes or any tax reserve we
have established as a result of the operation of the Separate
Account.
Transfers During the Annuity Phase:
o You may not make a transfer from the fixed Annuity Option to the variable
Annuity Option;
o Transfers among the subaccounts will be made by converting the number of
Annuity Units being transferred to the number of Annuity Units of the
subaccount to which the transfer is made, so that the next Annuity Payment
if it were made at that time would be the same amount that it would have
been without the transfer. Thereafter, Annuity Payments will reflect
changes in the value of the new Annuity Units; and
o You may make a transfer from the variable Annuity Option to the fixed
Annuity Option. The amount transferred from a subaccount of the Separate
Account will be equal to the product of "(a)" multiplied by
8
"(b)" multiplied by "(c)", where (a) is the number of Annuity Units
representing your interest in the subaccount per Annuity Payment; (b) is
the Annuity Unit value for the subaccount; and (c) is the present value of
$1.00 per payment period for the remaining annuity benefit period based on
the attained age of the Annuitant at the time of transfer, calculated
using the same actuarial basis as the variable annuity rates applied on
the Annuity Date for the Annuity Option elected. Amounts transferred to
the fixed Annuity Option will be applied under the Annuity Option elected
at the attained age of the Annuitant at the time of the transfer using the
fixed Annuity Option table. If at the time of transfer, the then current
fixed Annuity Option rates applicable to this class of contracts provide a
greater payment, the greater payment will be made. All amounts and Annuity
Unit values will be determined as of the end of the Business Day on which
the Company receives a notice.
FIXED ANNUITY
A fixed annuity is a series of payments made during the Annuity Phase which are
guaranteed as to dollar amount by the Company and do not vary with the
investment experience of the Separate Account. The Adjusted Contract Value is
determined on the annuity calculation date, which is a Business Day no more
than five (5) Business Days before the Annuity Date. This value will be used to
determine a fixed Annuity Payment. The monthly Annuity Payment will be based
upon the Annuity Option elected, the Annuitant's age, the Annuitant's sex
(where permitted by law), and the appropriate Annuity Option table. Your
annuity rates will not be less than those guaranteed in your contract at the
time of purchase. If, as of the annuity calculation date, the then current
Annuity Option rates applicable to this class of contracts provide an Annuity
Payment greater than that which is guaranteed under the same Annuity Option
under this contract, the greater payment will be made.
MORTALITY AND EXPENSE GUARANTEE
The Company guarantees that the dollar amount of each Annuity Payment after the
first Annuity Payment will not be affected by variations in mortality or
expense experience.
LEGAL OR REGULATORY RESTRICTIONS ON TRANSACTIONS
If mandated under applicable law, the Company may be required to reject a
Purchase Payment. The Company may also be required to block a contract Owner's
account and thereby refuse to pay any request for transfers, withdrawals,
surrenders, death benefits or continue making Annuity Payments until
instructions are received from the appropriate regulator.
ADDITIONAL FEDERAL TAX CONSIDERATIONS
NON-QUALIFIED CONTRACTS
DIVERSIFICATION. In order for your Non-Qualified Contract to be considered an
annuity contract for federal income tax purposes, we must comply with certain
diversification standards with respect to the investments underlying the
contract. We believe that we satisfy and will continue to satisfy these
diversification standards. Failure to meet these standards would result in
immediate taxation to contract Owners of gains under their contracts.
Inadvertent failure to meet these standards may be correctable.
CHANGES TO TAX RULES AND INTERPRETATIONS
Changes to applicable tax rules and interpretations can adversely affect the
tax treatment of your contract. These changes may take effect retroactively.
We reserve the right to amend your contract where necessary to maintain its
status as a variable annuity contract under federal tax law and to protect you
and other contract Owners in the Investment Portfolios from adverse tax
consequences.
3.8% MEDICARE TAX
The 3.8% Medicare tax applies to the lesser of (1) "net investment income" or
(2) the excess of the modified adjusted gross income over the applicable
threshold amount, $250,000 for married couples filing jointly and qualifying
widows, $125,000 for married couples filing separately and $200,000 for single
filers and will result in the following top tax rates on investment income:
Capital Gains Dividends Other
--------------- ----------- ------
23.8% 43.4% 43.4%
9
QUALIFIED CONTRACTS
Annuity contracts purchased through tax qualified plans are subject to
limitations imposed by the Code and regulations as a condition of tax
qualification. There are various types of tax qualified plans which have
certain beneficial tax consequences for contract Owners and plan participants.
TYPES OF QUALIFIED PLANS
The following list includes individual account-type plans which may hold an
annuity contract as described in the Prospectus. Except for Traditional IRAs,
they are established by an employer for participation of its employees.
IRA
Established by an individual, or employer as part of an employer plan.
SIMPLE
Established by a for-profit employer with fewer than 100 employees, based on
IRA accounts for each participant.
SEP
Established by a for-profit employer, based on IRA accounts for each
participant. Generally, Employer only contributions. If the SEP IRA permits
non-SEP contributions, Employee can make regular IRA contributions (including
IRA catch up contributions) to the SEP IRA, up to the maximum annual limit.
401(K), 401(A)
Established by for-profit employers, Section 501(c)(3) tax exempt and non-tax
exempt entities, Indian Tribes.
403(B) TAX SHELTERED ANNUITY ("TSA")
Established by Section 501(c)(3) tax exempt entities, public schools (K-12),
public colleges, universities, churches, synagogues and mosques.
457(B) GOVERNMENTAL SPONSOR
Established by state and local governments, public schools (K-12), public
colleges and universities.
457(B) NON-GOVERNMENTAL SPONSOR
Established by a tax-exempt entity. Under a non-governmental plan, which must
be a tax-exempt entity under Section 501(c) of the Code, all such investments
of the plan are owned by and are subject to the claims of the general creditors
of the sponsoring employer. In general, all amounts received under a
non-governmental Section 457(b) plan are taxable and are subject to federal
income tax withholding as wages.
ADDITIONAL INFORMATION REGARDING 457(B) PLANS
A 457(b) plan may provide a one-time election to make special one-time
"catch-up" contributions in one or more of the participant's last three taxable
years ending before the participant's normal retirement age under the plan.
Participants in governmental 457(b) plans may make two types of catch up
contributions, the age 50 or older catch-up and the special one-time catch-up
contribution. However, both catch up contribution types cannot be made in the
same taxable year. In general, contribution limits with respect to elective
deferral and to age 50 plus catch-up contributions are not aggregated with
contributions under the other types of qualified plans for the purposes of
determining the limitations applicable to participants.
403(A)
If your benefit under the 403(b) plan is worth more than $5,000, the Code
requires that your annuity protect your spouse if you die before you receive
any payments under the annuity or if you die while payments are being made. You
may waive these requirements with the written consent of your spouse. In
general, designating a Beneficiary other than your spouse is considered a
waiver and requires your spouse's written consent. Waiving these requirements
may cause your monthly benefit to increase during your lifetime. Special rules
apply to the withdrawal of excess contributions.
ROTH ACCOUNT
Individual or employee plan contributions made to certain plans on an after-tax
basis. An IRA may be established as a Roth IRA, and 401(k), 403(b) and 457(b)
plans may provide for Roth accounts.
ERISA
If your plan is subject to ERISA and you are married, the income payments,
withdrawal provisions, and methods of payment of the death benefit under your
contract may be subject to your spouse's rights as described below.
Generally, the spouse must give qualified consent whenever you elect to:
(a) choose income payments other than on a qualified joint and survivor
annuity basis ("QJSA") (one under which we make payments to you
during your lifetime and then make payments reduced by no more than
50% to
10
your spouse for his or her remaining life, if any): or choose to waive the
qualified pre-retirement survivor annuity benefit ("QPSA") (the benefit
payable to the surviving spouse of a participant who dies with a vested
interest in an accrued retirement benefit under the plan before payment of
the benefit has begun);
(b) make certain withdrawals under plans for which a qualified consent
is required;
(c) name someone other than the spouse as your Beneficiary; or
(d) use your accrued benefit as security for a loan exceeding $5,000.
Generally, there is no limit to the number of your elections as long as a
qualified consent is given each time. The consent to waive the QJSA must meet
certain requirements, including that it be in writing, that it acknowledges the
identity of the designated Beneficiary and the form of benefit selected, dated,
signed by your spouse, witnessed by a notary public or plan representative, and
that it be in a form satisfactory to us. The waiver of the QJSA generally must
be executed during the 180 day period (90 days for certain loans) ending on the
date on which income payments are to commence, or the withdrawal or the loan is
to be made, as the case may be. If you die before benefits commence, your
surviving spouse will be your Beneficiary unless he or she has given a
qualified consent otherwise.
The qualified consent to waive the QPSA benefit and the Beneficiary designation
must be made in writing that acknowledges the designated Beneficiary, dated,
signed by your spouse, witnessed by a notary public or plan representative and
in a form satisfactory to us. Generally, there is no limit to the number of
Beneficiary designations as long as a qualified consent accompanies each
designation. The waiver of and the qualified consent for the QPSA benefit
generally may not be given until the plan year in which you attain age 35. The
waiver period for the QPSA ends on the date of your death.
If the present value of your benefit is worth $5,000 or less, your plan
generally may provide for distribution of your entire interest in a lump sum
without spousal consent.
COMPARISON OF PLAN LIMITS FOR INDIVIDUAL CONTRIBUTIONS
(1) IRA: elective contribution: $5,500; catch-up contribution: $1,000
(2) SIMPLE: elective contribution: $12,500; catch-up contribution: $3,000
(3) 401(K): elective contribution: $18,000; catch-up contribution: $6,000
(4) SEP/401(A): (employer contributions only)
(5) 403(B) (TSA): elective contribution: $18,000; catch-up contribution:
$6,000
(6) 457(B): elective contribution: $18,000; catch-up contribution: $6,000
Dollar limits are for 2017 and subject to cost-of-living adjustments in future
years. Employer-sponsored individual account plans (other than 457(b) plans)
may provide for additional employer contributions such that total annual plan
contributions do not exceed the greater of $54,000 or 25% of an employee's
compensation for 2017.
FEDERAL ESTATE TAXES
While no attempt is being made to discuss the federal estate tax implications
of the contract, you should bear in mind that the value of an annuity contract
owned by a decedent and payable to a Beneficiary by virtue of surviving the
decedent is included in the decedent's gross estate. Depending on the terms of
the annuity contract, the value of the annuity included in the gross estate may
be the value of the lump sum payment payable to the designated Beneficiary or
the actuarial value of the payments to be received by the Beneficiary. Consult
an estate planning adviser for more information.
GENERATION-SKIPPING TRANSFER TAX
Under certain circumstances, the Code may impose a "generation-skipping
transfer tax" when all or part of an annuity contract is transferred to, or a
death benefit is paid to, an individual two or more generations younger than
the contract Owner. Regulations issued under the Code may require us to deduct
the tax from your contract, or from any applicable payment, and pay it directly
to the IRS.
11
ANNUITY PURCHASE PAYMENTS BY NONRESIDENT ALIENS AND FOREIGN CORPORATIONS
The discussion above provides general information regarding U.S. federal income
tax consequences to annuity purchasers that are U.S. citizens or residents.
Purchasers that are not U.S. citizens or residents will generally be subject to
U.S. federal withholding tax on taxable distributions from annuity contracts at
a 30% rate, unless a lower treaty rate applies. In addition, purchasers may be
subject to state and/or municipal taxes and taxes that may be imposed by the
purchaser's country of citizenship or residence. Prospective purchasers are
advised to consult with a qualified tax adviser regarding U.S., state and
foreign taxation with respect to an annuity contract purchase.
12
CONDENSED FINANCIAL INFORMATION
The following charts list the Condensed Financial Information (the accumulation
unit value information for the accumulation units outstanding) for contracts
issued as of December 31, 2016. See "Purchase - Accumulation Units" in the
prospectus for information on how accumulation unit values are calculated. The
charts present accumulation unit values based upon which riders you select. The
charts are in addition to the charts in the prospectus.
1.35% SEPARATE ACCOUNT PRODUCT CHARGES
ACCUMULATION
UNIT VALUE AT
BEGINNING OF
PERIOD
---------------
AMERICAN FUNDS INSURANCE SERIES(Reg. TM)
AMERICAN FUNDS GLOBAL SMALL CAPITALIZATION SUB-ACCOUNT (CLASS 4)
11/19/2014 to 12/31/2014 12.825689
01/01/2015 to 12/31/2015 13.046411
01/01/2016 to 12/31/2016 12.868980
------------------------------------------------------------------------------------------ ---------
BLACKROCK VARIABLE SERIES FUNDS, INC.
BLACKROCK GLOBAL ALLOCATION V.I. SUB-ACCOUNT (CLASS III)
11/19/2014 to 12/31/2014 20.922710
01/01/2015 to 12/31/2015 20.719322
01/01/2016 to 12/31/2016 20.236847
------------------------------------------------------------------------------------------ ---------
IVY VARIABLE INSURANCE PORTFOLIOS
IVY VIP ASSET STRATEGY SUB-ACCOUNT (FORMERLY IVY FUNDS VIP ASSET STRATEGY SUB-ACCOUNT)
11/19/2014 to 12/31/2014 17.050540
01/01/2015 to 12/31/2015 16.668523
01/01/2016 to 12/31/2016 15.072398
------------------------------------------------------------------------------------------ ---------
LEGG MASON PARTNERS VARIABLE EQUITY TRUST
ENTRUSTPERMAL ALTERNATIVE SELECT VIT SUB-ACCOUNT (CLASS II) (FORMERLY PERMAL ALTERNATIVE SELECT VIT
SUB-ACCOUNT (CLASS II))
11/19/2014 to 12/31/2014 10.073589
01/01/2015 to 12/31/2015 10.011882
01/01/2016 to 12/31/2016 9.445470
------------------------------------------------------------------------------------------ ---------
MET INVESTORS SERIES TRUST
AB GLOBAL DYNAMIC ALLOCATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.230055
01/01/2015 to 12/31/2015 12.283690
01/01/2016 to 12/31/2016 12.189171
------------------------------------------------------------------------------------------ ---------
ALLIANZ GLOBAL INVESTORS DYNAMIC MULTI-ASSET PLUS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.494675
01/01/2015 to 12/31/2015 10.549878
01/01/2016 to 12/31/2016 10.306023
------------------------------------------------------------------------------------------ ---------
AMERICAN FUNDS(Reg. TM) BALANCED ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 13.173584
01/01/2015 to 12/31/2015 13.104403
01/01/2016 to 12/31/2016 12.837470
------------------------------------------------------------------------------------------ ---------
AMERICAN FUNDS(Reg. TM) GROWTH ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 13.253926
01/01/2015 to 12/31/2015 13.144344
01/01/2016 to 12/31/2016 12.870081
------------------------------------------------------------------------------------------ ---------
NUMBER OF
ACCUMULATION ACCUMULATION
UNIT VALUE AT UNITS
END OF OUTSTANDING AT
PERIOD END OF PERIOD
--------------- ---------------
AMERICAN FUNDS INSURANCE SERIES(Reg. TM)
AMERICAN FUNDS GLOBAL SMALL CAPITALIZATION SUB-ACCOUNT (CLASS 4)
11/19/2014 to 12/31/2014 13.046411 2,401.8648
01/01/2015 to 12/31/2015 12.868980 15,514.9570
01/01/2016 to 12/31/2016 12.931021 25,175.7607
------------------------------------------------------------------------------------------ --------- -----------
BLACKROCK VARIABLE SERIES FUNDS, INC.
BLACKROCK GLOBAL ALLOCATION V.I. SUB-ACCOUNT (CLASS III)
11/19/2014 to 12/31/2014 20.719322 0.0000
01/01/2015 to 12/31/2015 20.236847 34,142.9884
01/01/2016 to 12/31/2016 20.725183 44,900.4070
------------------------------------------------------------------------------------------ --------- -----------
IVY VARIABLE INSURANCE PORTFOLIOS
IVY VIP ASSET STRATEGY SUB-ACCOUNT (FORMERLY IVY FUNDS VIP ASSET STRATEGY SUB-ACCOUNT)
11/19/2014 to 12/31/2014 16.668523 72.8873
01/01/2015 to 12/31/2015 15.072398 12,633.4632
01/01/2016 to 12/31/2016 14.488381 8,507.9378
------------------------------------------------------------------------------------------ --------- -----------
LEGG MASON PARTNERS VARIABLE EQUITY TRUST
ENTRUSTPERMAL ALTERNATIVE SELECT VIT SUB-ACCOUNT (CLASS II) (FORMERLY PERMAL ALTERNATIVE SELECT VIT SUB-ACCOUNT (CLASS II))
11/19/2014 to 12/31/2014 10.011882 32,739.2751
01/01/2015 to 12/31/2015 9.445470 648,796.0542
01/01/2016 to 12/31/2016 9.074539 830,939.6821
------------------------------------------------------------------------------------------ --------- ------------
MET INVESTORS SERIES TRUST
AB GLOBAL DYNAMIC ALLOCATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.283690 1,623.3403
01/01/2015 to 12/31/2015 12.189171 17,809.3035
01/01/2016 to 12/31/2016 12.458163 28,351.2404
------------------------------------------------------------------------------------------ --------- ------------
ALLIANZ GLOBAL INVESTORS DYNAMIC MULTI-ASSET PLUS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.549878 1,886.4484
01/01/2015 to 12/31/2015 10.306023 6,254.2724
01/01/2016 to 12/31/2016 10.370666 8,464.4360
------------------------------------------------------------------------------------------ --------- ------------
AMERICAN FUNDS(Reg. TM) BALANCED ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 13.104403 1,941.3210
01/01/2015 to 12/31/2015 12.837470 40,766.5145
01/01/2016 to 12/31/2016 13.654468 67,323.6811
------------------------------------------------------------------------------------------ --------- ------------
AMERICAN FUNDS(Reg. TM) GROWTH ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 13.144344 0.0000
01/01/2015 to 12/31/2015 12.870081 38,815.7080
01/01/2016 to 12/31/2016 13.835032 65,481.9600
------------------------------------------------------------------------------------------ --------- ------------
13
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.35% SEPARATE ACCOUNT PRODUCT CHARGES
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
--------------- --------------- ---------------
AMERICAN FUNDS(Reg. TM) GROWTH SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 13.710099 13.732463 3,385.0692
01/01/2015 to 12/31/2015 13.732463 14.427798 111,803.3145
01/01/2016 to 12/31/2016 14.427798 15.529556 130,798.6114
-------------------------- --------- --------- ------------
AMERICAN FUNDS(Reg. TM) MODERATE ALLOCATION SUB-ACCOUNT (CLASS C)
11/19/2014 to 12/31/2014 12.904363 12.859942 19,360.3375
01/01/2015 to 12/31/2015 12.859942 12.595391 17,279.6393
01/01/2016 to 12/31/2016 12.595391 13.297979 11,379.2834
-------------------------- --------- --------- ------------
AQR GLOBAL RISK BALANCED SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 11.676982 11.315616 2,531.0155
01/01/2015 to 12/31/2015 11.315616 10.095134 19,497.6935
01/01/2016 to 12/31/2016 10.095134 10.852268 16,471.7630
-------------------------- --------- --------- ------------
BLACKROCK GLOBAL TACTICAL STRATEGIES SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 11.781195 11.720044 1,815.8133
01/01/2015 to 12/31/2015 11.720044 11.550320 36,616.9199
01/01/2016 to 12/31/2016 11.550320 11.900419 31,576.0665
-------------------------- --------- --------- ------------
BLACKROCK HIGH YIELD SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 27.093641 26.690421 460.4294
01/01/2015 to 12/31/2015 26.690421 25.266812 26,973.2570
01/01/2016 to 12/31/2016 25.266812 28.412478 39,445.5942
-------------------------- --------- --------- ------------
CLARION GLOBAL REAL ESTATE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 18.666632 18.913103 1,619.2490
01/01/2015 to 12/31/2015 18.913103 18.397973 51,391.3783
01/01/2016 to 12/31/2016 18.397973 18.309894 71,723.5209
-------------------------- --------- --------- ------------
CLEARBRIDGE AGGRESSIVE GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.135136 15.238690 1,604.4767
01/01/2015 to 12/31/2015 15.238690 14.427497 60,343.2498
01/01/2016 to 12/31/2016 14.427497 14.615583 78,159.9883
-------------------------- --------- --------- ------------
GOLDMAN SACHS MID CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 24.055745 24.530394 160.2466
01/01/2015 to 12/31/2015 24.530394 21.994602 17,928.7372
01/01/2016 to 12/31/2016 21.994602 24.560413 23,253.9574
-------------------------- --------- --------- ------------
HARRIS OAKMARK INTERNATIONAL SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 26.008146 25.868634 456.5310
01/01/2015 to 12/31/2015 25.868634 24.367664 34,633.3695
01/01/2016 to 12/31/2016 24.367664 26.006902 44,938.2347
-------------------------- --------- --------- ------------
INVESCO BALANCED-RISK ALLOCATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.961549 11.027445 22,663.1689
01/01/2015 to 12/31/2015 11.027445 10.422099 15,373.7647
01/01/2016 to 12/31/2016 10.422099 11.487091 25,701.5184
-------------------------- --------- --------- ------------
INVESCO COMSTOCK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 16.865687 16.893211 1,187.1778
01/01/2015 to 12/31/2015 16.893211 15.671523 2,890.2005
01/01/2016 to 12/31/2016 15.671523 18.135888 6,831.1923
-------------------------- --------- --------- ------------
14
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.35% SEPARATE ACCOUNT PRODUCT CHARGES
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
--------------- --------------- ---------------
INVESCO MID CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 38.267038 38.573678 1,441.5085
01/01/2015 to 12/31/2015 38.573678 34.638462 8,840.8520
01/01/2016 to 12/31/2016 34.638462 39.472404 14,069.3169
-------------------------- --------- --------- -----------
INVESCO SMALL CAP GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 26.281242 26.778822 743.8469
01/01/2015 to 12/31/2015 26.778822 25.968032 8,981.0400
01/01/2016 to 12/31/2016 25.968032 28.549357 16,807.6538
-------------------------- --------- --------- -----------
JPMORGAN CORE BOND SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 9.892217 9.943475 0.0000
01/01/2015 to 12/31/2015 9.943475 9.857519 30,576.6847
01/01/2016 to 12/31/2016 9.857519 9.942204 82,110.5384
-------------------------- --------- --------- -----------
JPMORGAN GLOBAL ACTIVE ALLOCATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.145864 12.137246 1,638.7916
01/01/2015 to 12/31/2015 12.137246 12.081582 35,141.3961
01/01/2016 to 12/31/2016 12.081582 12.265596 38,343.3617
-------------------------- --------- --------- -----------
JPMORGAN SMALL CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 19.167127 20.030611 752.6976
01/01/2015 to 12/31/2015 20.030611 18.293046 10,778.8710
01/01/2016 to 12/31/2016 18.293046 23.553679 18,579.1568
-------------------------- --------- --------- -----------
LOOMIS SAYLES GLOBAL MARKETS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 17.492030 17.291817 227.8234
01/01/2015 to 12/31/2015 17.291817 17.269396 6,757.3074
01/01/2016 to 12/31/2016 17.269396 17.851748 9,856.6419
-------------------------- --------- --------- -----------
MET/ABERDEEN EMERGING MARKETS EQUITY SUB-ACCOUNT (CLASS B) (FORMERLY MFS(Reg. TM)
EMERGING MARKETS EQUITY SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 10.784339 10.251227 0.0000
01/01/2015 to 12/31/2015 10.251227 8.716743 21,598.3953
01/01/2016 to 12/31/2016 8.716743 9.589017 29,098.8442
-------------------------- --------- --------- -----------
MET/ARTISAN INTERNATIONAL SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.133283 9.939163 0.0000
01/01/2015 to 12/31/2015 9.939163 9.463663 5,320.1069
01/01/2016 to 12/31/2016 9.463663 8.470870 6,393.2150
-------------------------- --------- --------- -----------
MET/EATON VANCE FLOATING RATE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 11.199251 11.095180 1,027.6967
01/01/2015 to 12/31/2015 11.095180 10.854998 46,512.2248
01/01/2016 to 12/31/2016 10.854998 11.702075 59,624.5244
-------------------------- --------- --------- -----------
MET/FRANKLIN LOW DURATION TOTAL RETURN SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.038645 10.012969 470.5040
01/01/2015 to 12/31/2015 10.012969 9.817209 75,844.1186
01/01/2016 to 12/31/2016 9.817209 9.989057 84,620.7637
-------------------------- --------- --------- -----------
MET/TEMPLETON INTERNATIONAL BOND SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 13.787451 13.466503 483.0960
01/01/2015 to 12/31/2015 13.466503 12.733258 42,542.4938
01/01/2016 to 12/31/2016 12.733258 12.672388 54,804.0763
-------------------------- --------- --------- -----------
15
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.35% SEPARATE ACCOUNT PRODUCT CHARGES
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
--------------- --------------- ---------------
MET/WELLINGTON LARGE CAP RESEARCH SUB-ACCOUNT (CLASS B) (FORMERLY WMC LARGE CAP
RESEARCH SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 15.288016 15.470551 0.0000
01/01/2015 to 12/31/2015 15.470551 15.936277 5,646.5291
01/01/2016 to 12/31/2016 15.936277 17.010416 8,317.4082
-------------------------- --------- --------- ----------
METLIFE ASSET ALLOCATION 100 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 16.558022 16.508675 161.6698
01/01/2015 to 12/31/2015 16.508675 15.960226 51,148.8779
01/01/2016 to 12/31/2016 15.960226 17.159950 91,958.3003
-------------------------- --------- --------- -----------
METLIFE BALANCED PLUS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.716371 12.784040 4,764.9868
01/01/2015 to 12/31/2015 12.784040 12.097069 89,841.2727
01/01/2016 to 12/31/2016 12.097069 12.933204 83,765.8961
-------------------------- --------- --------- -----------
METLIFE MULTI-INDEX TARGETED RISK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.106540 12.177281 1,959.8603
01/01/2015 to 12/31/2015 12.177281 11.868407 44,307.7630
01/01/2016 to 12/31/2016 11.868407 12.219946 55,026.3565
-------------------------- --------- --------- -----------
METLIFE SMALL CAP VALUE SUB-ACCOUNT (CLASS B) (FORMERLY THIRD AVENUE SMALL CAP VALUE
SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 24.350102 24.432267 0.0000
01/01/2015 to 12/31/2015 24.432267 22.800953 2,524.2568
01/01/2016 to 12/31/2016 22.800953 29.526239 6,077.4909
-------------------------- --------- --------- -----------
MFS(Reg. TM) RESEARCH INTERNATIONAL SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 16.662998 15.973359 63.2905
01/01/2015 to 12/31/2015 15.973359 15.479626 10,324.5349
01/01/2016 to 12/31/2016 15.479626 15.138373 15,255.8067
-------------------------- --------- --------- -----------
MORGAN STANLEY MID CAP GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 19.076733 18.881138 102.6366
01/01/2015 to 12/31/2015 18.881138 17.692321 14,378.7303
01/01/2016 to 12/31/2016 17.692321 15.978327 31,637.7634
-------------------------- --------- --------- -----------
OPPENHEIMER GLOBAL EQUITY SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 25.955567 25.636427 848.0159
01/01/2015 to 12/31/2015 25.636427 26.268820 19,673.0603
01/01/2016 to 12/31/2016 26.268820 25.969570 44,026.8048
-------------------------- --------- --------- -----------
PANAGORA GLOBAL DIVERSIFIED RISK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.464908 10.438859 1,913.2732
01/01/2015 to 12/31/2015 10.438859 9.734812 9,831.1578
01/01/2016 to 12/31/2016 9.734812 10.672587 17,482.5741
-------------------------- --------- --------- -----------
PIMCO INFLATION PROTECTED BOND SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.020469 14.834134 103.2366
01/01/2015 to 12/31/2015 14.834134 14.180068 25,881.6354
01/01/2016 to 12/31/2016 14.180068 14.687170 56,572.8729
-------------------------- --------- --------- -----------
PIMCO TOTAL RETURN SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 17.907161 17.970051 50.6731
01/01/2015 to 12/31/2015 17.970051 17.729983 38,073.6875
01/01/2016 to 12/31/2016 17.729983 17.948734 66,988.2456
-------------------------- --------- --------- -----------
16
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.35% SEPARATE ACCOUNT PRODUCT CHARGES
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
--------------- --------------- ---------------
PYRAMIS(Reg. TM) GOVERNMENT INCOME SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 10.828996 10.943929 226.9926
01/01/2015 to 12/31/2015 10.943929 10.843616 9,387.3476
01/01/2016 to 12/31/2016 10.843616 10.839137 78,319.9937
-------------------------- --------- --------- -----------
PYRAMIS(Reg. TM) MANAGED RISK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 11.446940 11.529775 2,594.8956
01/01/2015 to 12/31/2015 11.529775 11.232828 52,616.8844
01/01/2016 to 12/31/2016 11.232828 11.588201 53,097.6573
-------------------------- --------- --------- -----------
SCHRODERS GLOBAL MULTI-ASSET SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 12.338646 12.361252 1,615.8772
01/01/2015 to 12/31/2015 12.361252 12.088292 30,453.1012
01/01/2016 to 12/31/2016 12.088292 12.600398 28,653.4079
-------------------------- --------- --------- -----------
SSGA GROWTH AND INCOME ETF SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.158474 15.122865 0.0000
01/01/2015 to 12/31/2015 15.122865 14.627171 27,984.3850
01/01/2016 to 12/31/2016 14.627171 15.265732 35,090.9843
-------------------------- --------- --------- -----------
SSGA GROWTH ETF SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.043216 14.983803 0.0000
01/01/2015 to 12/31/2015 14.983803 14.441245 19,534.7702
01/01/2016 to 12/31/2016 14.441245 15.227757 37,788.6876
-------------------------- --------- --------- -----------
T. ROWE PRICE LARGE CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 77.641691 78.155812 731.9185
01/01/2015 to 12/31/2015 78.155812 74.342775 8,645.0143
01/01/2016 to 12/31/2016 74.342775 85.040045 15,782.1762
-------------------------- --------- --------- -----------
TCW CORE FIXED INCOME SUB-ACCOUNT (CLASS B)
05/01/2015 to 12/31/2015 9.996672 9.857322 3,720.0313
01/01/2016 to 12/31/2016 9.857322 9.939851 14,008.6615
-------------------------- --------- --------- -----------
METROPOLITAN SERIES FUND
BAILLIE GIFFORD INTERNATIONAL STOCK SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 14.038824 13.766940 1,539.7508
01/01/2015 to 12/31/2015 13.766940 13.287591 19,165.2891
01/01/2016 to 12/31/2016 13.287591 13.771533 21,388.8945
-------------------------- --------- --------- -----------
BARCLAYS AGGREGATE BOND INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 16.771594 16.899628 6,283.9709
01/01/2015 to 12/31/2015 16.899628 16.663622 158,997.3310
01/01/2016 to 12/31/2016 16.663622 16.783192 245,775.8661
-------------------------- --------- --------- ------------
BLACKROCK BOND INCOME SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 60.655300 61.234342 20.1726
01/01/2015 to 12/31/2015 61.234342 60.619091 9,713.7295
01/01/2016 to 12/31/2016 60.619091 61.519948 15,908.5122
-------------------------- --------- --------- ------------
BLACKROCK CAPITAL APPRECIATION SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 45.159308 45.620162 27.0490
01/01/2015 to 12/31/2015 45.620162 47.713902 3,573.9045
01/01/2016 to 12/31/2016 47.713902 47.004252 6,841.7643
-------------------------- --------- --------- ------------
17
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.35% SEPARATE ACCOUNT PRODUCT CHARGES
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
--------------- --------------- ---------------
BLACKROCK LARGE CAP VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 17.484469 17.655487 392.9422
01/01/2015 to 12/31/2015 17.655487 16.342559 13,592.4352
01/01/2016 to 12/31/2016 16.342559 19.041219 28,517.2721
-------------------------- --------- --------- -----------
BLACKROCK ULTRA-SHORT TERM BOND SUB-ACCOUNT (CLASS B) (FORMERLY BLACKROCK MONEY MARKET
SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 22.304630 22.270008 1,746.4959
01/01/2015 to 12/31/2015 22.270008 21.971374 66,696.7698
01/01/2016 to 12/31/2016 21.971374 21.701054 49,520.9562
-------------------------- --------- --------- -----------
JENNISON GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 20.271507 20.177145 68.4895
01/01/2015 to 12/31/2015 20.177145 22.004650 18,873.3391
01/01/2016 to 12/31/2016 22.004650 21.681404 30,341.6363
-------------------------- --------- --------- -----------
LOOMIS SAYLES SMALL CAP CORE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 55.505277 56.998285 0.0000
01/01/2015 to 12/31/2015 56.998285 55.254252 2,522.3619
01/01/2016 to 12/31/2016 55.254252 64.855866 3,850.5018
-------------------------- --------- --------- -----------
MET/DIMENSIONAL INTERNATIONAL SMALL COMPANY SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 19.451971 19.226484 15.6530
01/01/2015 to 12/31/2015 19.226484 20.060336 3,804.1134
01/01/2016 to 12/31/2016 20.060336 20.944465 6,840.4262
-------------------------- --------- --------- -----------
MET/WELLINGTON CORE EQUITY OPPORTUNITIES SUB-ACCOUNT (CLASS B) (FORMERLY MET INVESTORS
SERIES TRUST - PIONEER FUND SUB-ACCOUNT
(CLASS B))
11/19/2014 to 12/31/2014 27.581642 27.732879 0.0000
01/01/2015 to 12/31/2015 27.732879 27.292429 1,212.8765
01/01/2016 to 04/29/2016 27.292429 27.467388 0.0000
-------------------------- --------- --------- -----------
MET/WELLINGTON CORE EQUITY OPPORTUNITIES SUB-ACCOUNT (CLASS B) (FORMERLY WMC CORE
EQUITY OPPORTUNITIES SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 49.643129 49.998384 0.0000
01/01/2015 to 12/31/2015 49.998384 50.384379 1,570.6265
01/01/2016 to 12/31/2016 50.384379 53.215946 4,870.8011
-------------------------- --------- --------- -----------
METLIFE ASSET ALLOCATION 20 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 14.343810 14.358970 0.0000
01/01/2015 to 12/31/2015 14.358970 14.083476 58,280.2895
01/01/2016 to 12/31/2016 14.083476 14.524065 117,966.8513
-------------------------- --------- --------- ------------
METLIFE ASSET ALLOCATION 40 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.147036 15.147485 9,857.6479
01/01/2015 to 12/31/2015 15.147485 14.783967 221,728.1128
01/01/2016 to 12/31/2016 14.783967 15.473673 261,465.2371
-------------------------- --------- --------- ------------
METLIFE ASSET ALLOCATION 60 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.731489 15.718682 28,503.7482
01/01/2015 to 12/31/2015 15.718682 15.311295 465,679.8564
01/01/2016 to 12/31/2016 15.311295 16.179302 590,010.8849
-------------------------- --------- --------- ------------
METLIFE ASSET ALLOCATION 80 SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 16.125337 16.089458 5,178.4848
01/01/2015 to 12/31/2015 16.089458 15.604466 363,764.4368
01/01/2016 to 12/31/2016 15.604466 16.648505 465,304.2652
-------------------------- --------- --------- ------------
18
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.35% SEPARATE ACCOUNT PRODUCT CHARGES
NUMBER OF
ACCUMULATION ACCUMULATION ACCUMULATION
UNIT VALUE AT UNIT VALUE AT UNITS
BEGINNING OF END OF OUTSTANDING AT
PERIOD PERIOD END OF PERIOD
--------------- --------------- ---------------
METLIFE MID CAP STOCK INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 26.753704 27.147686 1,724.1436
01/01/2015 to 12/31/2015 27.147686 26.066525 73,757.3681
01/01/2016 to 12/31/2016 26.066525 30.881654 103,278.9845
-------------------------- --------- --------- ------------
METLIFE STOCK INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 64.245792 64.580025 2,061.1155
01/01/2015 to 12/31/2015 64.580025 64.291944 57,903.1194
01/01/2016 to 12/31/2016 64.291944 70.607843 78,553.8472
-------------------------- --------- --------- ------------
MFS(Reg. TM) VALUE SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 23.896138 24.272023 844.7111
01/01/2015 to 12/31/2015 24.272023 23.859267 26,675.3606
01/01/2016 to 12/31/2016 23.859267 26.857322 43,621.8768
-------------------------- --------- --------- ------------
MSCI EAFE(Reg. TM) INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 14.640230 14.114976 5,916.5267
01/01/2015 to 12/31/2015 14.114976 13.743164 128,241.1211
01/01/2016 to 12/31/2016 13.743164 13.690221 186,600.5599
-------------------------- --------- --------- ------------
NEUBERGER BERMAN GENESIS SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 24.608896 24.822239 26.2285
01/01/2015 to 12/31/2015 24.822239 24.582443 4,625.0776
01/01/2016 to 12/31/2016 24.582443 28.713948 6,145.4983
-------------------------- --------- --------- ------------
RUSSELL 2000(Reg. TM) INDEX SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 25.832982 26.873278 1,825.2312
01/01/2015 to 12/31/2015 26.873278 25.310186 42,777.4876
01/01/2016 to 12/31/2016 25.310186 30.196052 53,441.7163
-------------------------- --------- --------- ------------
T. ROWE PRICE LARGE CAP GROWTH SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 23.877203 23.791573 42.1146
01/01/2015 to 12/31/2015 23.791573 25.940124 44,110.3225
01/01/2016 to 12/31/2016 25.940124 25.984297 94,092.9938
-------------------------- --------- --------- ------------
T. ROWE PRICE SMALL CAP GROWTH SUB-ACCOUNT (CLASS G)
11/19/2014 to 12/31/2014 30.129725 30.818743 16.2684
01/01/2015 to 12/31/2015 30.818743 31.167149 20,496.5968
01/01/2016 to 12/31/2016 31.167149 34.173873 41,377.9118
-------------------------- --------- --------- ------------
VAN ECK GLOBAL NATURAL RESOURCES SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 15.491477 13.712057 590.0605
01/01/2015 to 12/31/2015 13.712057 9.096537 44,786.7279
01/01/2016 to 12/31/2016 9.096537 12.900076 79,631.4428
-------------------------- --------- --------- ------------
WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 30.540372 30.447372 0.0000
01/01/2015 to 12/31/2015 30.447372 29.438123 2,192.7134
01/01/2016 to 12/31/2016 29.438123 31.454596 39,846.9888
-------------------------- --------- --------- ------------
WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES SUB-ACCOUNT (CLASS B) (FORMERLY
MET INVESTORS SERIES TRUST - LORD ABBETT
BOND DEBENTURE SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 29.635058 29.566117 843.7294
01/01/2015 to 12/31/2015 29.566117 28.535390 15,968.5090
01/01/2016 to 04/29/2016 28.535390 29.407510 0.0000
-------------------------- --------- --------- ------------
19
CONDENSED FINANCIAL INFORMATION (CONTINUED)
1.35% SEPARATE ACCOUNT PRODUCT CHARGES
ACCUMULATION
UNIT VALUE AT
BEGINNING OF
PERIOD
---------------
WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES SUB-ACCOUNT (CLASS B) (FORMERLY MET INVESTORS SERIES
TRUST - PIONEER
STRATEGIC INCOME SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 28.407877
01/01/2015 to 12/31/2015 28.232216
01/01/2016 to 04/29/2016 27.413574
------------------------------------------------------------------------------------------ ---------
WESTERN ASSET MANAGEMENT U.S. GOVERNMENT SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 18.278045
01/01/2015 to 12/31/2015 18.295226
01/01/2016 to 12/31/2016 18.105319
------------------------------------------------------------------------------------------ ---------
PIMCO VARIABLE INSURANCE TRUST
PIMCO COMMODITYREALRETURN(Reg. TM) STRATEGY SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 9.996674
01/01/2015 to 12/31/2015 8.677629
01/01/2016 to 12/31/2016 6.354355
------------------------------------------------------------------------------------------ ---------
PIMCO EMERGING MARKETS BOND SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 9.904852
01/01/2015 to 12/31/2015 9.549538
01/01/2016 to 12/31/2016 9.183001
------------------------------------------------------------------------------------------ ---------
PIMCO UNCONSTRAINED BOND SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 9.988565
01/01/2015 to 12/31/2015 9.960272
01/01/2016 to 12/31/2016 9.633602
------------------------------------------------------------------------------------------ ---------
THE UNIVERSAL INSTITUTIONAL FUNDS, INC.
GLOBAL INFRASTRUCTURE SUB-ACCOUNT (CLASS II)
11/19/2014 to 12/31/2014 12.601893
01/01/2015 to 12/31/2015 12.488003
01/01/2016 to 12/31/2016 10.609764
------------------------------------------------------------------------------------------ ---------
VANECK VIP TRUST
VANECK VIP LONG/SHORT EQUITY INDEX UB-ACCOUNT (CLASS S)
11/19/2014 to 12/31/2014 10.012418
01/01/2015 to 12/31/2015 10.084008
01/01/2016 to 12/31/2016 9.636845
NUMBER OF
ACCUMULATION ACCUMULATION
UNIT VALUE AT UNITS
END OF OUTSTANDING AT
PERIOD END OF PERIOD
--------------- ---------------
WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES SUB-ACCOUNT (CLASS B) (FORMERLY MET INVESTORS SERIES TRUST - PIONEER
STRATEGIC INCOME SUB-ACCOUNT (CLASS B))
11/19/2014 to 12/31/2014 28.232216 0.0000
01/01/2015 to 12/31/2015 27.413574 3,684.4178
01/01/2016 to 04/29/2016 28.092636 0.0000
------------------------------------------------------------------------------------------ --------- ----------
WESTERN ASSET MANAGEMENT U.S. GOVERNMENT SUB-ACCOUNT (CLASS B)
11/19/2014 to 12/31/2014 18.295226 0.0000
01/01/2015 to 12/31/2015 18.105319 3,827.0926
01/01/2016 to 12/31/2016 18.044967 11,614.3682
------------------------------------------------------------------------------------------ --------- -----------
PIMCO VARIABLE INSURANCE TRUST
PIMCO COMMODITYREALRETURN(Reg. TM) STRATEGY SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 8.677629 121.7778
01/01/2015 to 12/31/2015 6.354355 19,404.1399
01/01/2016 to 12/31/2016 7.185666 42,293.9348
------------------------------------------------------------------------------------------ --------- -----------
PIMCO EMERGING MARKETS BOND SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 9.549538 339.9993
01/01/2015 to 12/31/2015 9.183001 26,014.7245
01/01/2016 to 12/31/2016 10.235328 33,132.8158
------------------------------------------------------------------------------------------ --------- -----------
PIMCO UNCONSTRAINED BOND SUB-ACCOUNT (CLASS M)
11/19/2014 to 12/31/2014 9.960272 477.7642
01/01/2015 to 12/31/2015 9.633602 15,710.3499
01/01/2016 to 12/31/2016 9.924814 33,219.1797
------------------------------------------------------------------------------------------ --------- -----------
THE UNIVERSAL INSTITUTIONAL FUNDS, INC.
GLOBAL INFRASTRUCTURE SUB-ACCOUNT (CLASS II)
11/19/2014 to 12/31/2014 12.488003 295.2273
01/01/2015 to 12/31/2015 10.609764 16,003.8356
01/01/2016 to 12/31/2016 12.034189 23,746.0396
------------------------------------------------------------------------------------------ --------- -----------
VANECK VIP TRUST
VANECK VIP LONG/SHORT EQUITY INDEX UB-ACCOUNT (CLASS S)
11/19/2014 to 12/31/2014 10.084008 1,033.4511
01/01/2015 to 12/31/2015 9.636845 15,560.4143
01/01/2016 to 12/31/2016 9.756922 35,366.0126
20
FINANCIAL STATEMENTS
The financial statements and financial highlights comprising each of the
Sub-Accounts of the Separate Account and the consolidated financial statements
of the Company are to be filed by amendment.
The financial statements of the Company should be considered only as bearing
upon the ability of the Company to meet its obligations under the contract.
21
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Contract Owners of
MetLife Investors USA Separate Account A
and Board of Directors of
MetLife Insurance Company USA
We have audited the accompanying statements of assets and liabilities of
MetLife Investors USA Separate Account A (the "Separate Account") of MetLife
Insurance Company USA (the "Company") comprising each of the individual
Sub-Accounts listed in Note 2.A as of December 31, 2016, the related statements
of operations for the year then ended, the statements of changes in net assets
for the respective stated periods in the two years then ended, and the
financial highlights in Note 8 for the respective stated periods in the five
years then ended. These financial statements and financial highlights are the
responsibility of the Separate Account's management. Our responsibility is to
express an opinion on these financial statements and financial highlights based
on our audits.
We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the
financial statements and financial highlights are free of material
misstatement. The Separate Account is not required to have, nor were we engaged
to perform, an audit of its internal control over financial reporting. Our
audits included consideration of internal control over financial reporting as a
basis for designing audit procedures that are appropriate in the circumstances,
but not for the purpose of expressing an opinion on the effectiveness of the
Separate Account's internal control over financial reporting. Accordingly, we
express no such opinion. An audit also includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements,
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
Our procedures included confirmation of investments owned as of December 31,
2016, by correspondence with the custodian or mutual fund companies. We believe
that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred to
above present fairly, in all material respects, the financial position of each
of the Sub-Accounts constituting the Separate Account of the Company as of
December 31, 2016, the results of their operations for the year then ended, the
changes in their net assets for the respective stated periods in the two years
then ended, and the financial highlights for the respective stated periods in
the five years then ended, in conformity with accounting principles generally
accepted in the United States of America.
/s/ DELOITTE & TOUCHE LLP
Certified Public Accountants
Tampa, Florida
March 24, 2017
This page is intentionally left blank.
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES
DECEMBER 31, 2016
AMERICAN FUNDS
ALGER AMERICAN FUNDS AMERICAN FUNDS GLOBAL SMALL
SMALL CAP GROWTH BOND GLOBAL GROWTH CAPITALIZATION
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- ------------------- ------------------- -------------------
ASSETS:
Investments at fair value............... $ 46,089,499 $ 132,721,144 $ 277,038,719 $ 106,488,755
Due from MetLife Insurance
Company USA........................... -- -- -- --
-------------------- ------------------- ------------------- -------------------
Total Assets........................ 46,089,499 132,721,144 277,038,719 106,488,755
-------------------- ------------------- ------------------- -------------------
LIABILITIES:
Accrued fees............................ -- 73 123 176
Due to MetLife Insurance
Company USA........................... -- 1 2 1
-------------------- ------------------- ------------------- -------------------
Total Liabilities................... -- 74 125 177
-------------------- ------------------- ------------------- -------------------
NET ASSETS................................. $ 46,089,499 $ 132,721,070 $ 277,038,594 $ 106,488,578
==================== =================== =================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units...... $ 46,089,499 $ 132,712,550 $ 276,980,586 $ 106,484,505
Net assets from contracts in payout..... -- 8,520 58,008 4,073
-------------------- ------------------- ------------------- -------------------
Total Net Assets.................... $ 46,089,499 $ 132,721,070 $ 277,038,594 $ 106,488,578
==================== =================== =================== ===================
The accompanying notes are an integral part of these financial statements.
1
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
DECEMBER 31, 2016
AMERICAN FUNDS AMERICAN FUNDS BLACKROCK GLOBAL DEUTSCHE I CROCI
GROWTH GROWTH-INCOME ALLOCATION V.I. INTERNATIONAL
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------- ------------------- --------------------
ASSETS:
Investments at fair value............ $ 724,894,410 $ 363,982,523 $ 2,582,140 $ 11,250,311
Due from MetLife Insurance
Company USA........................ -- 1 -- --
------------------- -------------------- ------------------- --------------------
Total Assets.................... 724,894,410 363,982,524 2,582,140 11,250,311
------------------- -------------------- ------------------- --------------------
LIABILITIES:
Accrued fees......................... 97 135 101 --
Due to MetLife Insurance
Company USA........................ -- -- -- --
------------------- -------------------- ------------------- --------------------
Total Liabilities............... 97 135 101 --
------------------- -------------------- ------------------- --------------------
NET ASSETS.............................. $ 724,894,313 $ 363,982,389 $ 2,582,039 $ 11,250,311
=================== ==================== =================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 724,847,909 $ 363,931,294 $ 2,582,039 $ 11,250,311
Net assets from contracts in payout.. 46,404 51,095 -- --
------------------- -------------------- ------------------- --------------------
Total Net Assets................ $ 724,894,313 $ 363,982,389 $ 2,582,039 $ 11,250,311
=================== ==================== =================== ====================
FEDERATED HIGH FEDERATED FIDELITY VIP FIDELITY VIP
INCOME BOND KAUFMAN ASSET MANAGER CONTRAFUND
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------- ------------------- --------------------
ASSETS:
Investments at fair value............ $ 27,578 $ 47,595 $ 70,694,337 $ 573,685,540
Due from MetLife Insurance
Company USA........................ -- -- -- --
------------------- -------------------- ------------------- --------------------
Total Assets.................... 27,578 47,595 70,694,337 573,685,540
------------------- -------------------- ------------------- --------------------
LIABILITIES:
Accrued fees......................... 3 6 5 101
Due to MetLife Insurance
Company USA........................ 1 -- -- --
------------------- -------------------- ------------------- --------------------
Total Liabilities............... 4 6 5 101
------------------- -------------------- ------------------- --------------------
NET ASSETS.............................. $ 27,574 $ 47,589 $ 70,694,332 $ 573,685,439
=================== ==================== =================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 27,574 $ 47,589 $ 70,694,332 $ 573,685,103
Net assets from contracts in payout.. -- -- -- 336
------------------- -------------------- ------------------- --------------------
Total Net Assets................ $ 27,574 $ 47,589 $ 70,694,332 $ 573,685,439
=================== ==================== =================== ====================
FIDELITY VIP FIDELITY VIP
EQUITY-INCOME FUNDSMANAGER 50%
SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------
ASSETS:
Investments at fair value............ $ 4,741,279 $ 4,491,693,364
Due from MetLife Insurance
Company USA........................ -- --
------------------- -------------------
Total Assets.................... 4,741,279 4,491,693,364
------------------- -------------------
LIABILITIES:
Accrued fees......................... -- --
Due to MetLife Insurance
Company USA........................ -- 7
------------------- -------------------
Total Liabilities............... -- 7
------------------- -------------------
NET ASSETS.............................. $ 4,741,279 $ 4,491,693,357
=================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 4,741,279 $ 4,491,693,357
Net assets from contracts in payout.. -- --
------------------- -------------------
Total Net Assets................ $ 4,741,279 $ 4,491,693,357
=================== ===================
The accompanying notes are an integral part of these financial statements.
2
The accompanying notes are an integral part of these financial statements.
3
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
DECEMBER 31, 2016
FIDELITY VIP
FIDELITY VIP GOVERNMENT FIDELITY VIP FIDELITY VIP
FUNDSMANAGER 60% MONEY MARKET GROWTH INDEX 500
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------- -------------------- -------------------
ASSETS:
Investments at fair value............ $ 3,173,600,538 $ 18,955,238 $ 144,530,570 $ 61,915,734
Due from MetLife Insurance
Company USA........................ -- -- -- --
------------------- -------------------- -------------------- -------------------
Total Assets.................... 3,173,600,538 18,955,238 144,530,570 61,915,734
------------------- -------------------- -------------------- -------------------
LIABILITIES:
Accrued fees......................... -- 14 7 7
Due to MetLife Insurance
Company USA........................ 7 3 -- 1
------------------- -------------------- -------------------- -------------------
Total Liabilities............... 7 17 7 8
------------------- -------------------- -------------------- -------------------
NET ASSETS.............................. $ 3,173,600,531 $ 18,955,221 $ 144,530,563 $ 61,915,726
=================== ==================== ==================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 3,173,600,531 $ 18,955,221 $ 144,530,563 $ 61,915,726
Net assets from contracts in payout.. -- -- -- --
------------------- -------------------- -------------------- -------------------
Total Net Assets................ $ 3,173,600,531 $ 18,955,221 $ 144,530,563 $ 61,915,726
=================== ==================== ==================== ===================
FIDELITY VIP FIDELITY VIP FTVIPT FRANKLIN FTVIPT FRANKLIN
MID CAP OVERSEAS INCOME VIP MUTUAL SHARES VIP
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- ------------------- -------------------- -------------------
ASSETS:
Investments at fair value............ $ 409,695,258 $ 3,832,068 $ 260,175,225 $ 134,905,148
Due from MetLife Insurance
Company USA........................ 2 -- 1 1
-------------------- ------------------- -------------------- -------------------
Total Assets.................... 409,695,260 3,832,068 260,175,226 134,905,149
-------------------- ------------------- -------------------- -------------------
LIABILITIES:
Accrued fees......................... 68 -- 90 57
Due to MetLife Insurance
Company USA........................ -- -- -- --
-------------------- ------------------- -------------------- -------------------
Total Liabilities............... 68 -- 90 57
-------------------- ------------------- -------------------- -------------------
NET ASSETS.............................. $ 409,695,192 $ 3,832,068 $ 260,175,136 $ 134,905,092
==================== =================== ==================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 409,685,344 $ 3,832,068 $ 260,143,065 $ 134,896,309
Net assets from contracts in payout.. 9,848 -- 32,071 8,783
-------------------- ------------------- -------------------- -------------------
Total Net Assets................ $ 409,695,192 $ 3,832,068 $ 260,175,136 $ 134,905,092
==================== =================== ==================== ===================
FTVIPT FRANKLIN FTVIPT TEMPLETON
SMALL CAP VALUE VIP FOREIGN VIP
SUB-ACCOUNT SUB-ACCOUNT
-------------------- --------------------
ASSETS:
Investments at fair value............ $ 128,271,026 $ 68,504,833
Due from MetLife Insurance
Company USA........................ -- --
-------------------- --------------------
Total Assets.................... 128,271,026 68,504,833
-------------------- --------------------
LIABILITIES:
Accrued fees......................... 38 71
Due to MetLife Insurance
Company USA........................ 1 --
-------------------- --------------------
Total Liabilities............... 39 71
-------------------- --------------------
NET ASSETS.............................. $ 128,270,987 $ 68,504,762
==================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 128,270,713 $ 68,486,288
Net assets from contracts in payout.. 274 18,474
-------------------- --------------------
Total Net Assets................ $ 128,270,987 $ 68,504,762
==================== ====================
The accompanying notes are an integral part of these financial statements.
4
The accompanying notes are an integral part of these financial statements.
5
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
DECEMBER 31, 2016
FTVIPT TEMPLETON INVESCO V.I. INVESCO V.I. INVESCO V.I.
GLOBAL BOND VIP AMERICAN FRANCHISE CORE EQUITY EQUITY AND INCOME
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------- -------------------- --------------------
ASSETS:
Investments at fair value............ $ 213,840,371 $ 12,502 $ 171,213 $ 654,269,953
Due from MetLife Insurance
Company USA........................ -- -- 1 --
-------------------- -------------------- -------------------- --------------------
Total Assets.................... 213,840,371 12,502 171,214 654,269,953
-------------------- -------------------- -------------------- --------------------
LIABILITIES:
Accrued fees......................... 40 7 7 35
Due to MetLife Insurance
Company USA........................ -- -- -- 1
-------------------- -------------------- -------------------- --------------------
Total Liabilities............... 40 7 7 36
-------------------- -------------------- -------------------- --------------------
NET ASSETS.............................. $ 213,840,331 $ 12,495 $ 171,207 $ 654,269,917
==================== ==================== ==================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 213,826,782 $ 12,495 $ 171,207 $ 654,240,577
Net assets from contracts in payout.. 13,549 -- -- 29,340
-------------------- -------------------- -------------------- --------------------
Total Net Assets................ $ 213,840,331 $ 12,495 $ 171,207 $ 654,269,917
==================== ==================== ==================== ====================
LMPVET
INVESCO V.I. INVESCO V.I. IVY VIP CLEARBRIDGE VARIABLE
GROWTH AND INCOME INTERNATIONAL GROWTH ASSET STRATEGY AGGRESSIVE GROWTH
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- --------------------- -------------------- --------------------
ASSETS:
Investments at fair value............ $ 1,017 $ 243,849,679 $ 233,211 $ 293,536,804
Due from MetLife Insurance
Company USA........................ 1 -- -- 4
-------------------- --------------------- -------------------- --------------------
Total Assets.................... 1,018 243,849,679 233,211 293,536,808
-------------------- --------------------- -------------------- --------------------
LIABILITIES:
Accrued fees......................... 1 48 30 187
Due to MetLife Insurance
Company USA........................ -- 1 -- --
-------------------- --------------------- -------------------- --------------------
Total Liabilities............... 1 49 30 187
-------------------- --------------------- -------------------- --------------------
NET ASSETS.............................. $ 1,017 $ 243,849,630 $ 233,181 $ 293,536,621
==================== ===================== ==================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 1,017 $ 243,842,509 $ 233,181 $ 293,522,396
Net assets from contracts in payout.. -- 7,121 -- 14,225
-------------------- --------------------- -------------------- --------------------
Total Net Assets................ $ 1,017 $ 243,849,630 $ 233,181 $ 293,536,621
==================== ===================== ==================== ====================
LMPVET LMPVET
CLEARBRIDGE VARIABLE CLEARBRIDGE VARIABLE
APPRECIATION DIVIDEND STRATEGY
SUB-ACCOUNT SUB-ACCOUNT
-------------------- --------------------
ASSETS:
Investments at fair value............ $ 405,981,620 $ 200,725,444
Due from MetLife Insurance
Company USA........................ -- --
-------------------- --------------------
Total Assets.................... 405,981,620 200,725,444
-------------------- --------------------
LIABILITIES:
Accrued fees......................... 63 95
Due to MetLife Insurance
Company USA........................ 3 1
-------------------- --------------------
Total Liabilities............... 66 96
-------------------- --------------------
NET ASSETS.............................. $ 405,981,554 $ 200,725,348
==================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 405,975,125 $ 200,710,905
Net assets from contracts in payout.. 6,429 14,443
-------------------- --------------------
Total Net Assets................ $ 405,981,554 $ 200,725,348
==================== ====================
The accompanying notes are an integral part of these financial statements.
6
The accompanying notes are an integral part of these financial statements.
7
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
DECEMBER 31, 2016
LMPVET LMPVET LMPVET LMPVET ENTRUST
CLEARBRIDGE VARIABLE CLEARBRIDGE VARIABLE CLEARBRIDGE VARIABLE PERMAL ALTERNATIVE
LARGE CAP GROWTH LARGE CAP VALUE SMALL CAP GROWTH SELECT VIT
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------- -------------------- -------------------
ASSETS:
Investments at fair value.............. $ 3,173,437 $ 8,591,643 $ 102,811,217 $ 12,975,801
Due from MetLife Insurance
Company USA.......................... -- -- 2 --
-------------------- -------------------- -------------------- -------------------
Total Assets....................... 3,173,437 8,591,643 102,811,219 12,975,801
-------------------- -------------------- -------------------- -------------------
LIABILITIES:
Accrued fees........................... 66 72 93 30
Due to MetLife Insurance
Company USA.......................... -- -- -- --
-------------------- -------------------- -------------------- -------------------
Total Liabilities.................. 66 72 93 30
-------------------- -------------------- -------------------- -------------------
NET ASSETS................................ $ 3,173,371 $ 8,591,571 $ 102,811,126 $ 12,975,771
==================== ==================== ==================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units..... $ 3,166,941 $ 8,591,571 $ 102,808,645 $ 12,975,771
Net assets from contracts in payout.... 6,430 -- 2,481 --
-------------------- -------------------- -------------------- -------------------
Total Net Assets................... $ 3,173,371 $ 8,591,571 $ 102,811,126 $ 12,975,771
==================== ==================== ==================== ===================
LMPVET QS LMPVET QS LMPVIT WESTERN
VARIABLE LMPVET QS VARIABLE ASSET VARIABLE GLOBAL
CONSERVATIVE GROWTH VARIABLE GROWTH MODERATE GROWTH HIGH YIELD BOND
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- ------------------- ---------------------
ASSETS:
Investments at fair value.............. $ 38,835,930 $ 83,823,272 $ 921,089 $ 87,931,069
Due from MetLife Insurance
Company USA.......................... -- 1 -- --
------------------- ------------------- ------------------- ---------------------
Total Assets....................... 38,835,930 83,823,273 921,089 87,931,069
------------------- ------------------- ------------------- ---------------------
LIABILITIES:
Accrued fees........................... 43 60 10 123
Due to MetLife Insurance
Company USA.......................... -- -- 1 2
------------------- ------------------- ------------------- ---------------------
Total Liabilities.................. 43 60 11 125
------------------- ------------------- ------------------- ---------------------
NET ASSETS................................ $ 38,835,887 $ 83,823,213 $ 921,078 $ 87,930,944
=================== =================== =================== =====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units..... $ 38,835,887 $ 83,732,124 $ 921,078 $ 87,919,451
Net assets from contracts in payout.... -- 91,089 -- 11,493
------------------- ------------------- ------------------- ---------------------
Total Net Assets................... $ 38,835,887 $ 83,823,213 $ 921,078 $ 87,930,944
=================== =================== =================== =====================
MFS VIT MFS VIT
INVESTORS TRUST NEW DISCOVERY
SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------
ASSETS:
Investments at fair value.............. $ 8,836 $ 41,234
Due from MetLife Insurance
Company USA.......................... -- --
------------------- -------------------
Total Assets....................... 8,836 41,234
------------------- -------------------
LIABILITIES:
Accrued fees........................... 8 --
Due to MetLife Insurance
Company USA.......................... 1 --
------------------- -------------------
Total Liabilities.................. 9 --
------------------- -------------------
NET ASSETS................................ $ 8,827 $ 41,234
=================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units..... $ 8,827 $ 41,234
Net assets from contracts in payout.... -- --
------------------- -------------------
Total Net Assets................... $ 8,827 $ 41,234
=================== ===================
The accompanying notes are an integral part of these financial statements.
8
The accompanying notes are an integral part of these financial statements.
9
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
DECEMBER 31, 2016
MIST
ALLIANZ GLOBAL MIST AMERICAN
MIST AB GLOBAL INVESTORS DYNAMIC FUNDS BALANCED
MFS VIT RESEARCH DYNAMIC ALLOCATION MULTI-ASSET PLUS ALLOCATION
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- ------------------- -------------------- -------------------
ASSETS:
Investments at fair value............ $ 21,617 $ 3,143,878,521 $ 82,224,276 $ 3,152,568,112
Due from MetLife Insurance
Company USA........................ -- -- 8 --
-------------------- ------------------- -------------------- -------------------
Total Assets..................... 21,617 3,143,878,521 82,224,284 3,152,568,112
-------------------- ------------------- -------------------- -------------------
LIABILITIES:
Accrued fees......................... 9 167 146 139
Due to MetLife Insurance
Company USA........................ -- 1 -- 1
-------------------- ------------------- -------------------- -------------------
Total Liabilities................ 9 168 146 140
-------------------- ------------------- -------------------- -------------------
NET ASSETS.............................. $ 21,608 $ 3,143,878,353 $ 82,224,138 $ 3,152,567,972
==================== =================== ==================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 21,608 $ 3,143,759,653 $ 82,224,138 $ 3,152,270,825
Net assets from contracts in payout.. -- 118,700 -- 297,147
-------------------- ------------------- -------------------- -------------------
Total Net Assets................. $ 21,608 $ 3,143,878,353 $ 82,224,138 $ 3,152,567,972
==================== =================== ==================== ===================
MIST AMERICAN MIST AMERICAN MIST AQR
FUNDS GROWTH MIST AMERICAN FUNDS MODERATE GLOBAL RISK
ALLOCATION FUNDS GROWTH ALLOCATION BALANCED
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------- ------------------- -------------------
ASSETS:
Investments at fair value............ $ 1,744,990,942 $ 654,182,554 $ 1,590,453,893 $ 2,395,534,315
Due from MetLife Insurance
Company USA........................ -- -- -- --
------------------- -------------------- ------------------- -------------------
Total Assets..................... 1,744,990,942 654,182,554 1,590,453,893 2,395,534,315
------------------- -------------------- ------------------- -------------------
LIABILITIES:
Accrued fees......................... 112 114 136 115
Due to MetLife Insurance
Company USA........................ 1 -- 1 1
------------------- -------------------- ------------------- -------------------
Total Liabilities................ 113 114 137 116
------------------- -------------------- ------------------- -------------------
NET ASSETS.............................. $ 1,744,990,829 $ 654,182,440 $ 1,590,453,756 $ 2,395,534,199
=================== ==================== =================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 1,744,519,191 $ 654,168,472 $ 1,589,532,371 $ 2,395,150,516
Net assets from contracts in payout.. 471,638 13,968 921,385 383,683
------------------- -------------------- ------------------- -------------------
Total Net Assets................. $ 1,744,990,829 $ 654,182,440 $ 1,590,453,756 $ 2,395,534,199
=================== ==================== =================== ===================
MIST BLACKROCK
GLOBAL TACTICAL MIST BLACKROCK
STRATEGIES HIGH YIELD
SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------
ASSETS:
Investments at fair value............ $ 4,999,248,857 $ 231,879,613
Due from MetLife Insurance
Company USA........................ -- --
------------------- -------------------
Total Assets..................... 4,999,248,857 231,879,613
------------------- -------------------
LIABILITIES:
Accrued fees......................... 156 206
Due to MetLife Insurance
Company USA........................ 3 2
------------------- -------------------
Total Liabilities................ 159 208
------------------- -------------------
NET ASSETS.............................. $ 4,999,248,698 $ 231,879,405
=================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 4,999,064,588 $ 231,840,541
Net assets from contracts in payout.. 184,110 38,864
------------------- -------------------
Total Net Assets................. $ 4,999,248,698 $ 231,879,405
=================== ===================
The accompanying notes are an integral part of these financial statements.
10
The accompanying notes are an integral part of these financial statements.
11
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
DECEMBER 31, 2016
MIST MIST
MIST CLARION MIST CLEARBRIDGE GOLDMAN SACHS HARRIS OAKMARK
GLOBAL REAL ESTATE AGGRESSIVE GROWTH MID CAP VALUE INTERNATIONAL
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- ------------------- -------------------
ASSETS:
Investments at fair value............ $ 263,186,843 $ 461,921,224 $ 136,116,600 $ 576,095,647
Due from MetLife Insurance
Company USA........................ -- 3 -- --
------------------- ------------------- ------------------- -------------------
Total Assets..................... 263,186,843 461,921,227 136,116,600 576,095,647
------------------- ------------------- ------------------- -------------------
LIABILITIES:
Accrued fees......................... 241 217 118 204
Due to MetLife Insurance
Company USA........................ 5 -- -- 2
------------------- ------------------- ------------------- -------------------
Total Liabilities................ 246 217 118 206
------------------- ------------------- ------------------- -------------------
NET ASSETS.............................. $ 263,186,597 $ 461,921,010 $ 136,116,482 $ 576,095,441
=================== =================== =================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 263,120,853 $ 461,818,083 $ 136,074,866 $ 575,928,749
Net assets from contracts in payout.. 65,744 102,927 41,616 166,692
------------------- ------------------- ------------------- -------------------
Total Net Assets................. $ 263,186,597 $ 461,921,010 $ 136,116,482 $ 576,095,441
=================== =================== =================== ===================
MIST INVESCO
BALANCED-RISK MIST INVESCO MIST INVESCO MIST INVESCO
ALLOCATION COMSTOCK MID CAP VALUE SMALL CAP GROWTH
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- ------------------- --------------------
ASSETS:
Investments at fair value............ $ 940,598,361 $ 742,413,539 $ 268,931,642 $ 296,393,495
Due from MetLife Insurance
Company USA........................ -- 1 -- 1
------------------- ------------------- ------------------- --------------------
Total Assets..................... 940,598,361 742,413,540 268,931,642 296,393,496
------------------- ------------------- ------------------- --------------------
LIABILITIES:
Accrued fees......................... 199 165 177 258
Due to MetLife Insurance
Company USA........................ 1 -- -- --
------------------- ------------------- ------------------- --------------------
Total Liabilities................ 200 165 177 258
------------------- ------------------- ------------------- --------------------
NET ASSETS.............................. $ 940,598,161 $ 742,413,375 $ 268,931,465 $ 296,393,238
=================== =================== =================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 940,569,896 $ 742,267,690 $ 268,880,547 $ 296,312,950
Net assets from contracts in payout.. 28,265 145,685 50,918 80,288
------------------- ------------------- ------------------- --------------------
Total Net Assets................. $ 940,598,161 $ 742,413,375 $ 268,931,465 $ 296,393,238
=================== =================== =================== ====================
MIST JPMORGAN
MIST JPMORGAN GLOBAL ACTIVE
CORE BOND ALLOCATION
SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------
ASSETS:
Investments at fair value............ $ 339,144,946 $ 1,042,207,167
Due from MetLife Insurance
Company USA........................ -- --
------------------- -------------------
Total Assets..................... 339,144,946 1,042,207,167
------------------- -------------------
LIABILITIES:
Accrued fees......................... 116 154
Due to MetLife Insurance
Company USA........................ 2 2
------------------- -------------------
Total Liabilities................ 118 156
------------------- -------------------
NET ASSETS.............................. $ 339,144,828 $ 1,042,207,011
=================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 339,138,571 $ 1,042,198,117
Net assets from contracts in payout.. 6,257 8,894
------------------- -------------------
Total Net Assets................. $ 339,144,828 $ 1,042,207,011
=================== ===================
The accompanying notes are an integral part of these financial statements.
12
The accompanying notes are an integral part of these financial statements.
13
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
DECEMBER 31, 2016
MIST MET/ABERDEEN MIST
MIST JPMORGAN MIST LOOMIS SAYLES EMERGING MET/ARTISAN
SMALL CAP VALUE GLOBAL MARKETS MARKETS EQUITY INTERNATIONAL
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- ------------------- -------------------- -------------------
ASSETS:
Investments at fair value............ $ 26,376,861 $ 148,612,546 $ 370,235,848 $ 233,724
Due from MetLife Insurance
Company USA........................ -- -- -- --
-------------------- ------------------- -------------------- -------------------
Total Assets..................... 26,376,861 148,612,546 370,235,848 233,724
-------------------- ------------------- -------------------- -------------------
LIABILITIES:
Accrued fees......................... 229 128 182 34
Due to MetLife Insurance
Company USA........................ -- 1 5 --
-------------------- ------------------- -------------------- -------------------
Total Liabilities................ 229 129 187 34
-------------------- ------------------- -------------------- -------------------
NET ASSETS.............................. $ 26,376,632 $ 148,612,417 $ 370,235,661 $ 233,690
==================== =================== ==================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 26,367,236 $ 148,612,417 $ 370,166,494 $ 233,690
Net assets from contracts in payout.. 9,396 -- 69,167 --
-------------------- ------------------- -------------------- -------------------
Total Net Assets................. $ 26,376,632 $ 148,612,417 $ 370,235,661 $ 233,690
==================== =================== ==================== ===================
MIST MIST MET/FRANKLIN
MET/EATON VANCE LOW DURATION MIST MET/TEMPLETON MIST MET/WELLINGTON
FLOATING RATE TOTAL RETURN INTERNATIONAL BOND LARGE CAP RESEARCH
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- -------------------- --------------------
ASSETS:
Investments at fair value............ $ 64,827,854 $ 144,974,984 $ 39,493,721 $ 15,301,575
Due from MetLife Insurance
Company USA........................ -- -- 1 --
------------------- ------------------- -------------------- --------------------
Total Assets..................... 64,827,854 144,974,984 39,493,722 15,301,575
------------------- ------------------- -------------------- --------------------
LIABILITIES:
Accrued fees......................... 177 147 102 151
Due to MetLife Insurance
Company USA........................ 2 1 -- 1
------------------- ------------------- -------------------- --------------------
Total Liabilities................ 179 148 102 152
------------------- ------------------- -------------------- --------------------
NET ASSETS.............................. $ 64,827,675 $ 144,974,836 $ 39,493,620 $ 15,301,423
=================== =================== ==================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 64,810,084 $ 144,959,506 $ 39,493,620 $ 15,301,423
Net assets from contracts in payout.. 17,591 15,330 -- --
------------------- ------------------- -------------------- --------------------
Total Net Assets................. $ 64,827,675 $ 144,974,836 $ 39,493,620 $ 15,301,423
=================== =================== ==================== ====================
MIST METLIFE MIST METLIFE
ASSET ALLOCATION 100 BALANCED PLUS
SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------
ASSETS:
Investments at fair value............ $ 557,781,087 $ 6,925,324,585
Due from MetLife Insurance
Company USA........................ 1 --
-------------------- -------------------
Total Assets..................... 557,781,088 6,925,324,585
-------------------- -------------------
LIABILITIES:
Accrued fees......................... 90 100
Due to MetLife Insurance
Company USA........................ -- 2
-------------------- -------------------
Total Liabilities................ 90 102
-------------------- -------------------
NET ASSETS.............................. $ 557,780,998 $ 6,925,324,483
==================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 557,300,339 $ 6,925,058,932
Net assets from contracts in payout.. 480,659 265,551
-------------------- -------------------
Total Net Assets................. $ 557,780,998 $ 6,925,324,483
==================== ===================
The accompanying notes are an integral part of these financial statements.
14
The accompanying notes are an integral part of these financial statements.
15
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
DECEMBER 31, 2016
MIST METLIFE MIST MIST
MULTI-INDEX MIST METLIFE MFS RESEARCH MORGAN STANLEY
TARGETED RISK SMALL CAP VALUE INTERNATIONAL MID CAP GROWTH
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------ ------------------ ------------------ ------------------
ASSETS:
Investments at fair value.............. $ 847,575,178 $ 266,605,657 $ 247,880,088 $ 201,153,320
Due from MetLife Insurance
Company USA.......................... -- -- -- 2
------------------ ------------------ ------------------ ------------------
Total Assets....................... 847,575,178 266,605,657 247,880,088 201,153,322
------------------ ------------------ ------------------ ------------------
LIABILITIES:
Accrued fees........................... 145 151 186 204
Due to MetLife Insurance
Company USA.......................... 12 -- 2 --
------------------ ------------------ ------------------ ------------------
Total Liabilities.................. 157 151 188 204
------------------ ------------------ ------------------ ------------------
NET ASSETS................................ $ 847,575,021 $ 266,605,506 $ 247,879,900 $ 201,153,118
================== ================== ================== ==================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units..... $ 847,571,780 $ 266,421,941 $ 247,767,998 $ 201,116,036
Net assets from contracts in payout.... 3,241 183,565 111,902 37,082
------------------ ------------------ ------------------ ------------------
Total Net Assets................... $ 847,575,021 $ 266,605,506 $ 247,879,900 $ 201,153,118
================== ================== ================== ==================
MIST MIST
MIST OPPENHEIMER PANAGORA GLOBAL PIMCO INFLATION MIST
GLOBAL EQUITY DIVERSIFIED RISK PROTECTED BOND PIMCO TOTAL RETURN
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- ------------------- -------------------
ASSETS:
Investments at fair value.............. $ 59,761,404 $ 102,758,068 $ 622,764,886 $ 1,446,213,361
Due from MetLife Insurance
Company USA.......................... 4 -- -- --
------------------- ------------------- ------------------- -------------------
Total Assets....................... 59,761,408 102,758,068 622,764,886 1,446,213,361
------------------- ------------------- ------------------- -------------------
LIABILITIES:
Accrued fees........................... 162 174 184 144
Due to MetLife Insurance
Company USA.......................... -- 3 2 1
------------------- ------------------- ------------------- -------------------
Total Liabilities.................. 162 177 186 145
------------------- ------------------- ------------------- -------------------
NET ASSETS................................ $ 59,761,246 $ 102,757,891 $ 622,764,700 $ 1,446,213,216
=================== =================== =================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units..... $ 59,761,246 $ 102,734,833 $ 622,602,529 $ 1,445,876,901
Net assets from contracts in payout.... -- 23,058 162,171 336,315
------------------- ------------------- ------------------- -------------------
Total Net Assets................... $ 59,761,246 $ 102,757,891 $ 622,764,700 $ 1,446,213,216
=================== =================== =================== ===================
MIST PYRAMIS MIST PYRAMIS
GOVERNMENT INCOME MANAGED RISK
SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------
ASSETS:
Investments at fair value.............. $ 648,756,137 $ 415,940,452
Due from MetLife Insurance
Company USA.......................... -- --
------------------- -------------------
Total Assets....................... 648,756,137 415,940,452
------------------- -------------------
LIABILITIES:
Accrued fees........................... 189 113
Due to MetLife Insurance
Company USA.......................... 2 1
------------------- -------------------
Total Liabilities.................. 191 114
------------------- -------------------
NET ASSETS................................ $ 648,755,946 $ 415,940,338
=================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units..... $ 648,703,575 $ 415,940,338
Net assets from contracts in payout.... 52,371 --
------------------- -------------------
Total Net Assets................... $ 648,755,946 $ 415,940,338
=================== ===================
The accompanying notes are an integral part of these financial statements.
16
The accompanying notes are an integral part of these financial statements.
17
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
DECEMBER 31, 2016
MIST SCHRODERS MIST SSGA GROWTH MIST SSGA MIST T. ROWE PRICE
GLOBAL MULTI-ASSET AND INCOME ETF GROWTH ETF LARGE CAP VALUE
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- -------------------- -------------------
ASSETS:
Investments at fair value............ $ 577,424,982 $ 1,290,390,369 $ 454,752,075 $ 747,778,983
Due from MetLife Insurance
Company USA........................ -- -- -- 41
------------------- ------------------- -------------------- -------------------
Total Assets..................... 577,424,982 1,290,390,369 454,752,075 747,779,024
------------------- ------------------- -------------------- -------------------
LIABILITIES:
Accrued fees......................... 159 144 67 234
Due to MetLife Insurance
Company USA........................ 2 1 -- --
------------------- ------------------- -------------------- -------------------
Total Liabilities................ 161 145 67 234
------------------- ------------------- -------------------- -------------------
NET ASSETS.............................. $ 577,424,821 $ 1,290,390,224 $ 454,752,008 $ 747,778,790
=================== =================== ==================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 577,368,770 $ 1,290,050,799 $ 454,359,160 $ 747,410,048
Net assets from contracts in payout.. 56,051 339,425 392,848 368,742
------------------- ------------------- -------------------- -------------------
Total Net Assets................. $ 577,424,821 $ 1,290,390,224 $ 454,752,008 $ 747,778,790
=================== =================== ==================== ===================
MIST T. ROWE PRICE MIST TCW MSF BAILLIE GIFFORD MSF BARCLAYS
MID CAP GROWTH CORE FIXED INCOME INTERNATIONAL STOCK AGGREGATE BOND INDEX
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- ------------------- --------------------
ASSETS:
Investments at fair value............ $ 462,784,038 $ 292,789 $ 221,819,889 $ 308,499,181
Due from MetLife Insurance
Company USA........................ -- -- -- --
------------------- ------------------- ------------------- --------------------
Total Assets..................... 462,784,038 292,789 221,819,889 308,499,181
------------------- ------------------- ------------------- --------------------
LIABILITIES:
Accrued fees......................... 69 51 141 203
Due to MetLife Insurance
Company USA........................ 1 -- 4 3
------------------- ------------------- ------------------- --------------------
Total Liabilities................ 70 51 145 206
------------------- ------------------- ------------------- --------------------
NET ASSETS.............................. $ 462,783,968 $ 292,738 $ 221,819,744 $ 308,498,975
=================== =================== =================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 462,673,127 $ 292,738 $ 221,809,173 $ 308,469,959
Net assets from contracts in payout.. 110,841 -- 10,571 29,016
------------------- ------------------- ------------------- --------------------
Total Net Assets................. $ 462,783,968 $ 292,738 $ 221,819,744 $ 308,498,975
=================== =================== =================== ====================
MSF BLACKROCK MSF BLACKROCK
BOND INCOME CAPITAL APPRECIATION
SUB-ACCOUNT SUB-ACCOUNT
-------------------- --------------------
ASSETS:
Investments at fair value............ $ 74,475,534 $ 14,099,196
Due from MetLife Insurance
Company USA........................ -- 2
-------------------- --------------------
Total Assets..................... 74,475,534 14,099,198
-------------------- --------------------
LIABILITIES:
Accrued fees......................... 203 216
Due to MetLife Insurance
Company USA........................ 1 --
-------------------- --------------------
Total Liabilities................ 204 216
-------------------- --------------------
NET ASSETS.............................. $ 74,475,330 $ 14,098,982
==================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 74,425,136 $ 14,098,982
Net assets from contracts in payout.. 50,194 --
-------------------- --------------------
Total Net Assets................. $ 74,475,330 $ 14,098,982
==================== ====================
The accompanying notes are an integral part of these financial statements.
18
The accompanying notes are an integral part of these financial statements.
19
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
DECEMBER 31, 2016
MSF BLACKROCK
MSF BLACKROCK ULTRA-SHORT MSF FRONTIER MSF
LARGE CAP VALUE TERM BOND MID CAP GROWTH JENNISON GROWTH
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------- ------------------- -------------------
ASSETS:
Investments at fair value............ $ 5,024,851 $ 343,711,548 $ 66,475,244 $ 447,002,701
Due from MetLife Insurance
Company USA........................ 2 -- -- --
------------------- -------------------- ------------------- -------------------
Total Assets..................... 5,024,853 343,711,548 66,475,244 447,002,701
------------------- -------------------- ------------------- -------------------
LIABILITIES:
Accrued fees......................... 35 321 85 146
Due to MetLife Insurance
Company USA........................ -- 1 -- --
------------------- -------------------- ------------------- -------------------
Total Liabilities................ 35 322 85 146
------------------- -------------------- ------------------- -------------------
NET ASSETS.............................. $ 5,024,818 $ 343,711,226 $ 66,475,159 $ 447,002,555
=================== ==================== =================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 5,024,818 $ 343,615,553 $ 66,444,875 $ 446,649,164
Net assets from contracts in payout.. -- 95,673 30,284 353,391
------------------- -------------------- ------------------- -------------------
Total Net Assets................. $ 5,024,818 $ 343,711,226 $ 66,475,159 $ 447,002,555
=================== ==================== =================== ===================
MSF MET/DIMENSIONAL
MSF LOOMIS SAYLES MSF LOOMIS SAYLES MSF MET/ARTISAN INTERNATIONAL SMALL
SMALL CAP CORE SMALL CAP GROWTH MID CAP VALUE COMPANY
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- -------------------- --------------------
ASSETS:
Investments at fair value............ $ 14,400,813 $ 292,677 $ 217,144,144 $ 57,870,072
Due from MetLife Insurance
Company USA........................ 1 -- 1 --
------------------- ------------------- -------------------- --------------------
Total Assets..................... 14,400,814 292,677 217,144,145 57,870,072
------------------- ------------------- -------------------- --------------------
LIABILITIES:
Accrued fees......................... 179 54 83 137
Due to MetLife Insurance
Company USA........................ -- -- -- 1
------------------- ------------------- -------------------- --------------------
Total Liabilities................ 179 54 83 138
------------------- ------------------- -------------------- --------------------
NET ASSETS.............................. $ 14,400,635 $ 292,623 $ 217,144,062 $ 57,869,934
=================== =================== ==================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 14,400,635 $ 292,623 $ 216,961,267 $ 57,869,934
Net assets from contracts in payout.. -- -- 182,795 --
------------------- ------------------- -------------------- --------------------
Total Net Assets................. $ 14,400,635 $ 292,623 $ 217,144,062 $ 57,869,934
=================== =================== ==================== ====================
MSF MET/WELLINGTON
CORE EQUITY MSF METLIFE
OPPORTUNITIES ASSET ALLOCATION 20
SUB-ACCOUNT SUB-ACCOUNT
------------------- --------------------
ASSETS:
Investments at fair value............ $ 787,904,084 $ 101,585,701
Due from MetLife Insurance
Company USA........................ -- --
------------------- --------------------
Total Assets..................... 787,904,084 101,585,701
------------------- --------------------
LIABILITIES:
Accrued fees......................... 367 100
Due to MetLife Insurance
Company USA........................ -- 1
------------------- --------------------
Total Liabilities................ 367 101
------------------- --------------------
NET ASSETS.............................. $ 787,903,717 $ 101,585,600
=================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 787,600,524 $ 101,585,600
Net assets from contracts in payout.. 303,193 --
------------------- --------------------
Total Net Assets................. $ 787,903,717 $ 101,585,600
=================== ====================
The accompanying notes are an integral part of these financial statements.
20
The accompanying notes are an integral part of these financial statements.
21
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
DECEMBER 31, 2016
MSF METLIFE MSF METLIFE MSF METLIFE MSF METLIFE
ASSET ALLOCATION 40 ASSET ALLOCATION 60 ASSET ALLOCATION 80 MID CAP STOCK INDEX
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------- ------------------- --------------------
ASSETS:
Investments at fair value............ $ 3,966,089,387 $ 6,424,608,808 $ 5,638,281,108 $ 151,623,770
Due from MetLife Insurance
Company USA........................ -- -- 10 --
-------------------- -------------------- ------------------- --------------------
Total Assets..................... 3,966,089,387 6,424,608,808 5,638,281,118 151,623,770
-------------------- -------------------- ------------------- --------------------
LIABILITIES:
Accrued fees......................... 103 106 66 158
Due to MetLife Insurance
Company USA........................ 1 -- -- --
-------------------- -------------------- ------------------- --------------------
Total Liabilities................ 104 106 66 158
-------------------- -------------------- ------------------- --------------------
NET ASSETS.............................. $ 3,966,089,283 $ 6,424,608,702 $ 5,638,281,052 $ 151,623,612
==================== ==================== =================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 3,963,168,880 $ 6,421,678,260 $ 5,636,135,110 $ 151,623,612
Net assets from contracts in payout.. 2,920,403 2,930,442 2,145,942 --
-------------------- -------------------- ------------------- --------------------
Total Net Assets................. $ 3,966,089,283 $ 6,424,608,702 $ 5,638,281,052 $ 151,623,612
==================== ==================== =================== ====================
MSF METLIFE MSF MFS MSF MSCI
STOCK INDEX TOTAL RETURN MSF MFS VALUE EAFE INDEX
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- ------------------- ------------------- -------------------
ASSETS:
Investments at fair value............ $ 594,987,004 $ 41,309,229 $ 284,625,481 $ 104,406,822
Due from MetLife Insurance
Company USA........................ 1 -- -- --
-------------------- ------------------- ------------------- -------------------
Total Assets..................... 594,987,005 41,309,229 284,625,481 104,406,822
-------------------- ------------------- ------------------- -------------------
LIABILITIES:
Accrued fees......................... 90 204 227 151
Due to MetLife Insurance
Company USA........................ -- -- 6 2
-------------------- ------------------- ------------------- -------------------
Total Liabilities................ 90 204 233 153
-------------------- ------------------- ------------------- -------------------
NET ASSETS.............................. $ 594,986,915 $ 41,309,025 $ 284,625,248 $ 104,406,669
==================== =================== =================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 594,875,254 $ 41,305,838 $ 284,562,792 $ 104,406,669
Net assets from contracts in payout.. 111,661 3,187 62,456 --
-------------------- ------------------- ------------------- -------------------
Total Net Assets................. $ 594,986,915 $ 41,309,025 $ 284,625,248 $ 104,406,669
==================== =================== =================== ===================
MSF NEUBERGER MSF
BERMAN GENESIS RUSSELL 2000 INDEX
SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------
ASSETS:
Investments at fair value............ $ 133,113,670 $ 143,701,639
Due from MetLife Insurance
Company USA........................ 1 1
------------------- -------------------
Total Assets..................... 133,113,671 143,701,640
------------------- -------------------
LIABILITIES:
Accrued fees......................... 133 117
Due to MetLife Insurance
Company USA........................ -- --
------------------- -------------------
Total Liabilities................ 133 117
------------------- -------------------
NET ASSETS.............................. $ 133,113,538 $ 143,701,523
=================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 133,083,848 $ 143,701,523
Net assets from contracts in payout.. 29,690 --
------------------- -------------------
Total Net Assets................. $ 133,113,538 $ 143,701,523
=================== ===================
The accompanying notes are an integral part of these financial statements.
22
The accompanying notes are an integral part of these financial statements.
23
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
DECEMBER 31, 2016
MSF VAN ECK MSF WESTERN ASSET
MSF T. ROWE PRICE MSF T. ROWE PRICE GLOBAL NATURAL MANAGEMENT STRATEGIC
LARGE CAP GROWTH SMALL CAP GROWTH RESOURCES BOND OPPORTUNITIES
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------- ------------------- --------------------
ASSETS:
Investments at fair value............ $ 203,478,745 $ 12,987,984 $ 88,041,313 $ 1,050,068,835
Due from MetLife Insurance
Company USA........................ 8 1 1 15
------------------- -------------------- ------------------- --------------------
Total Assets..................... 203,478,753 12,987,985 88,041,314 1,050,068,850
------------------- -------------------- ------------------- --------------------
LIABILITIES:
Accrued fees......................... 166 93 65 352
Due to MetLife Insurance
Company USA........................ -- -- -- --
------------------- -------------------- ------------------- --------------------
Total Liabilities................ 166 93 65 352
------------------- -------------------- ------------------- --------------------
NET ASSETS.............................. $ 203,478,587 $ 12,987,892 $ 88,041,249 $ 1,050,068,498
=================== ==================== =================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 203,449,228 $ 12,987,892 $ 88,041,249 $ 1,049,776,857
Net assets from contracts in payout.. 29,359 -- -- 291,641
------------------- -------------------- ------------------- --------------------
Total Net Assets................. $ 203,478,587 $ 12,987,892 $ 88,041,249 $ 1,050,068,498
=================== ==================== =================== ====================
MSF WESTERN ASSET
MANAGEMENT NEUBERGER OPPENHEIMER VA OPPENHEIMER VA
U.S. GOVERNMENT BERMAN GENESIS CORE BOND GOVERNMENT MONEY
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- -------------------- -------------------
ASSETS:
Investments at fair value............ $ 250,345,434 $ 6,569 $ 5,722 $ 3,398
Due from MetLife Insurance
Company USA........................ -- -- -- --
------------------- ------------------- -------------------- -------------------
Total Assets..................... 250,345,434 6,569 5,722 3,398
------------------- ------------------- -------------------- -------------------
LIABILITIES:
Accrued fees......................... 248 5 3 2
Due to MetLife Insurance
Company USA........................ 3 -- -- --
------------------- ------------------- -------------------- -------------------
Total Liabilities................ 251 5 3 2
------------------- ------------------- -------------------- -------------------
NET ASSETS.............................. $ 250,345,183 $ 6,564 $ 5,719 $ 3,396
=================== =================== ==================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 250,280,337 $ 6,564 $ 5,719 $ 3,396
Net assets from contracts in payout.. 64,846 -- -- --
------------------- ------------------- -------------------- -------------------
Total Net Assets................. $ 250,345,183 $ 6,564 $ 5,719 $ 3,396
=================== =================== ==================== ===================
OPPENHEIMER VA
MAIN STREET OPPENHEIMER VA
SMALL CAP MAIN STREET
SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------
ASSETS:
Investments at fair value............ $ 115,192,973 $ 102,246
Due from MetLife Insurance
Company USA........................ -- --
------------------- -------------------
Total Assets..................... 115,192,973 102,246
------------------- -------------------
LIABILITIES:
Accrued fees......................... 29 --
Due to MetLife Insurance
Company USA........................ -- --
------------------- -------------------
Total Liabilities................ 29 --
------------------- -------------------
NET ASSETS.............................. $ 115,192,944 $ 102,246
=================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 115,192,944 $ 102,246
Net assets from contracts in payout.. -- --
------------------- -------------------
Total Net Assets................. $ 115,192,944 $ 102,246
=================== ===================
The accompanying notes are an integral part of these financial statements.
24
The accompanying notes are an integral part of these financial statements.
25
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)
DECEMBER 31, 2016
PIMCO VIT PIMCO VIT
COMMODITYREALRETURN EMERGING MARKETS PIMCO VIT PIONEER VCT
STRATEGY BOND UNCONSTRAINED BOND MID CAP VALUE
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------- -------------------- -------------------
ASSETS:
Investments at fair value............ $ 464,890 $ 645,778 $ 560,086 $ 67,321,630
Due from MetLife Insurance
Company USA........................ -- -- -- 2
-------------------- -------------------- -------------------- -------------------
Total Assets.................... 464,890 645,778 560,086 67,321,632
-------------------- -------------------- -------------------- -------------------
LIABILITIES:
Accrued fees......................... 40 35 34 93
Due to MetLife Insurance
Company USA........................ -- -- 1 --
-------------------- -------------------- -------------------- -------------------
Total Liabilities............... 40 35 35 93
-------------------- -------------------- -------------------- -------------------
NET ASSETS.............................. $ 464,850 $ 645,743 $ 560,051 $ 67,321,539
==================== ==================== ==================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 464,850 $ 645,743 $ 560,051 $ 67,321,539
Net assets from contracts in payout.. -- -- -- --
-------------------- -------------------- -------------------- -------------------
Total Net Assets................ $ 464,850 $ 645,743 $ 560,051 $ 67,321,539
==================== ==================== ==================== ===================
PIONEER VCT T. ROWE PRICE T. ROWE PRICE T. ROWE PRICE
REAL ESTATE SHARES GOVERNMENT MONEY GROWTH STOCK INTERNATIONAL STOCK
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------- -------------------- --------------------
ASSETS:
Investments at fair value............ $ 252,092 $ 532,685 $ 6,392,651 $ 383,184
Due from MetLife Insurance
Company USA........................ -- -- -- --
------------------- -------------------- -------------------- --------------------
Total Assets.................... 252,092 532,685 6,392,651 383,184
------------------- -------------------- -------------------- --------------------
LIABILITIES:
Accrued fees......................... 63 -- -- 9
Due to MetLife Insurance
Company USA........................ 2 -- 1 --
------------------- -------------------- -------------------- --------------------
Total Liabilities............... 65 -- 1 9
------------------- -------------------- -------------------- --------------------
NET ASSETS.............................. $ 252,027 $ 532,685 $ 6,392,650 $ 383,175
=================== ==================== ==================== ====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 252,027 $ 532,685 $ 6,392,650 $ 383,175
Net assets from contracts in payout.. -- -- -- --
------------------- -------------------- -------------------- --------------------
Total Net Assets................ $ 252,027 $ 532,685 $ 6,392,650 $ 383,175
=================== ==================== ==================== ====================
TAP 1919 VARIABLE
SOCIALLY RESPONSIVE UIF GLOBAL
BALANCED INFRASTRUCTURE
SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------
ASSETS:
Investments at fair value............ $ 143,977 $ 504,004
Due from MetLife Insurance
Company USA........................ -- --
-------------------- -------------------
Total Assets.................... 143,977 504,004
-------------------- -------------------
LIABILITIES:
Accrued fees......................... 31 65
Due to MetLife Insurance
Company USA........................ -- --
-------------------- -------------------
Total Liabilities............... 31 65
-------------------- -------------------
NET ASSETS.............................. $ 143,946 $ 503,939
==================== ===================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units... $ 140,770 $ 503,939
Net assets from contracts in payout.. 3,176 --
-------------------- -------------------
Total Net Assets................ $ 143,946 $ 503,939
==================== ===================
The accompanying notes are an integral part of these financial statements.
26
The accompanying notes are an integral part of these financial statements.
27
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF ASSETS AND LIABILITIES -- (CONCLUDED)
DECEMBER 31, 2016
VANECK VIP
LONG/SHORT
EQUITY INDEX
SUB-ACCOUNT
--------------------
ASSETS:
Investments at fair value................................................................................. $ 460,292
Due from MetLife Insurance
Company USA............................................................................................. 1
--------------------
Total Assets......................................................................................... 460,293
--------------------
LIABILITIES:
Accrued fees.............................................................................................. 25
Due to MetLife Insurance
Company USA............................................................................................. --
--------------------
Total Liabilities.................................................................................... 25
--------------------
NET ASSETS................................................................................................... $ 460,268
====================
CONTRACT OWNERS' EQUITY
Net assets from accumulation units........................................................................ $ 460,268
Net assets from contracts in payout....................................................................... --
--------------------
Total Net Assets..................................................................................... $ 460,268
====================
The accompanying notes are an integral part of these financial statements.
28
This page is intentionally left blank.
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2016
AMERICAN FUNDS
ALGER AMERICAN FUNDS AMERICAN FUNDS GLOBAL SMALL
SMALL CAP GROWTH BOND GLOBAL GROWTH CAPITALIZATION
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- ------------------- ------------------- --------------------
INVESTMENT INCOME:
Dividends............................ $ -- $ 2,362,918 $ 2,553,358 $ 262,845
-------------------- ------------------- ------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 594,785 1,580,647 3,355,854 1,220,788
Administrative charges............... -- 360,070 703,209 231,933
-------------------- ------------------- ------------------- --------------------
Total expenses..................... 594,785 1,940,717 4,059,063 1,452,721
-------------------- ------------------- ------------------- --------------------
Net investment income (loss).... (594,785) 422,201 (1,505,705) (1,189,876)
-------------------- ------------------- ------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 6,358,504 501,718 23,983,060 20,135,180
Realized gains (losses) on sale of
investments........................ (1,762,600) 272,828 1,989,612 214,264
-------------------- ------------------- ------------------- --------------------
Net realized gains (losses)..... 4,595,904 774,546 25,972,672 20,349,444
-------------------- ------------------- ------------------- --------------------
Change in unrealized gains (losses)
on investments..................... (2,062,118) 1,209,210 (27,161,768) (18,427,737)
-------------------- ------------------- ------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 2,533,786 1,983,756 (1,189,096) 1,921,707
-------------------- ------------------- ------------------- --------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 1,939,001 $ 2,405,957 $ (2,694,801) $ 731,831
==================== =================== =================== ====================
AMERICAN FUNDS AMERICAN FUNDS BLACKROCK GLOBAL DEUTSCHE I CROCI
GROWTH GROWTH-INCOME ALLOCATION V.I. INTERNATIONAL
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- ------------------- -------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 5,452,879 $ 5,169,546 $ 31,700 $ 1,204,759
-------------------- ------------------- -------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 8,624,417 4,363,417 22,384 152,749
Administrative charges............... 1,717,015 802,587 4,635 --
-------------------- ------------------- -------------------- -------------------
Total expenses..................... 10,341,432 5,166,004 27,019 152,749
-------------------- ------------------- -------------------- -------------------
Net investment income (loss).... (4,888,553) 3,542 4,681 1,052,010
-------------------- ------------------- -------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 64,569,797 38,951,558 -- --
Realized gains (losses) on sale of
investments........................ 11,851,170 4,275,096 (6,529) (793,511)
-------------------- ------------------- -------------------- -------------------
Net realized gains (losses)..... 76,420,967 43,226,654 (6,529) (793,511)
-------------------- ------------------- -------------------- -------------------
Change in unrealized gains (losses)
on investments..................... (17,514,843) (9,886,897) 64,672 (391,004)
-------------------- ------------------- -------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 58,906,124 33,339,757 58,143 (1,184,515)
-------------------- ------------------- -------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 54,017,571 $ 33,343,299 $ 62,824 $ (132,505)
==================== =================== ==================== ===================
FEDERATED HIGH FEDERATED
INCOME BOND KAUFMAN
SUB-ACCOUNT SUB-ACCOUNT
------------------- --------------------
INVESTMENT INCOME:
Dividends............................ $ 1,635 $ --
------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 370 640
Administrative charges............... -- --
------------------- --------------------
Total expenses..................... 370 640
------------------- --------------------
Net investment income (loss).... 1,265 (640)
------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... -- 3,201
Realized gains (losses) on sale of
investments........................ (65) 199
------------------- --------------------
Net realized gains (losses)..... (65) 3,400
------------------- --------------------
Change in unrealized gains (losses)
on investments..................... 2,081 (1,780)
------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 2,016 1,620
------------------- --------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 3,281 $ 980
=================== ====================
The accompanying notes are an integral part of these financial statements.
30
The accompanying notes are an integral part of these financial statements.
31
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 2016
FIDELITY VIP FIDELITY VIP FIDELITY VIP FIDELITY VIP
ASSET MANAGER CONTRAFUND EQUITY-INCOME FUNDSMANAGER 50%
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------- -------------------- --------------------
INVESTMENT INCOME:
Dividends............................. $ 1,049,636 $ 4,144,324 $ 101,998 $ 55,981,452
-------------------- -------------------- -------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges....................... 979,246 6,725,287 66,173 89,219,632
Administrative charges................ -- 866,577 -- --
-------------------- -------------------- -------------------- --------------------
Total expenses...................... 979,246 7,591,864 66,173 89,219,632
-------------------- -------------------- -------------------- --------------------
Net investment income (loss)..... 70,390 (3,447,540) 35,825 (33,238,180)
-------------------- -------------------- -------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions........... 3,154,767 45,281,039 314,347 61,561,775
Realized gains (losses) on sale of
investments......................... (121,692) 11,253,026 (91,104) 5,863,112
-------------------- -------------------- -------------------- --------------------
Net realized gains (losses)...... 3,033,075 56,534,065 223,243 67,424,887
-------------------- -------------------- -------------------- --------------------
Change in unrealized gains (losses)
on investments...................... (1,946,628) (18,019,471) 452,684 70,790,241
-------------------- -------------------- -------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments...................... 1,086,447 38,514,594 675,927 138,215,128
-------------------- -------------------- -------------------- --------------------
Net increase (decrease) in net assets
resulting from operations........... $ 1,156,837 $ 35,067,054 $ 711,752 $ 104,976,948
==================== ==================== ==================== ====================
FIDELITY VIP
FIDELITY VIP GOVERNMENT FIDELITY VIP FIDELITY VIP
FUNDSMANAGER 60% MONEY MARKET GROWTH INDEX 500
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------- -------------------- --------------------
INVESTMENT INCOME:
Dividends............................. $ 39,756,961 $ 49,197 $ 56,169 $ 871,491
------------------- -------------------- -------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges....................... 68,870,585 432,259 1,994,466 817,329
Administrative charges................ -- -- -- --
------------------- -------------------- -------------------- --------------------
Total expenses...................... 68,870,585 432,259 1,994,466 817,329
------------------- -------------------- -------------------- --------------------
Net investment income (loss)..... (29,113,624) (383,062) (1,938,297) 54,162
------------------- -------------------- -------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions........... 122,600,072 -- 14,663,210 64,387
Realized gains (losses) on sale of
investments......................... 65,729,431 -- 5,374,219 2,701,386
------------------- -------------------- -------------------- --------------------
Net realized gains (losses)...... 188,329,503 -- 20,037,429 2,765,773
------------------- -------------------- -------------------- --------------------
Change in unrealized gains (losses)
on investments...................... (63,123,246) -- (19,372,389) 3,139,146
------------------- -------------------- -------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments...................... 125,206,257 -- 665,040 5,904,919
------------------- -------------------- -------------------- --------------------
Net increase (decrease) in net assets
resulting from operations........... $ 96,092,633 $ (383,062) $ (1,273,257) $ 5,959,081
=================== ==================== ==================== ====================
FIDELITY VIP FIDELITY VIP
MID CAP OVERSEAS
SUB-ACCOUNT SUB-ACCOUNT
-------------------- --------------------
INVESTMENT INCOME:
Dividends............................. $ 1,226,938 $ 57,280
-------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges....................... 4,395,958 51,634
Administrative charges................ 985,076 --
-------------------- --------------------
Total expenses...................... 5,381,034 51,634
-------------------- --------------------
Net investment income (loss)..... (4,154,096) 5,646
-------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions........... 24,963,139 6,789
Realized gains (losses) on sale of
investments......................... 1,427,156 (4,638)
-------------------- --------------------
Net realized gains (losses)...... 26,390,295 2,151
-------------------- --------------------
Change in unrealized gains (losses)
on investments...................... 17,481,724 (292,991)
-------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments...................... 43,872,019 (290,840)
-------------------- --------------------
Net increase (decrease) in net assets
resulting from operations........... $ 39,717,923 $ (285,194)
==================== ====================
The accompanying notes are an integral part of these financial statements.
32
The accompanying notes are an integral part of these financial statements.
33
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 2016
FTVIPT FRANKLIN FTVIPT FRANKLIN FTVIPT FRANKLIN FTVIPT TEMPLETON
INCOME VIP MUTUAL SHARES VIP SMALL CAP VALUE VIP FOREIGN VIP
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------- -------------------- --------------------
INVESTMENT INCOME:
Dividends............................. $ 12,538,874 $ 2,509,072 $ 945,163 $ 1,284,041
-------------------- -------------------- -------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges....................... 2,789,012 1,430,161 1,260,599 1,021,784
Administrative charges................ 629,018 316,737 288,545 164,732
-------------------- -------------------- -------------------- --------------------
Total expenses...................... 3,418,030 1,746,898 1,549,144 1,186,516
-------------------- -------------------- -------------------- --------------------
Net investment income (loss)..... 9,120,844 762,174 (603,981) 97,525
-------------------- -------------------- -------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions........... -- 10,336,219 17,369,446 1,150,089
Realized gains (losses) on sale of
investments......................... (1,197,852) 1,399,723 823,576 (622,986)
-------------------- -------------------- -------------------- --------------------
Net realized gains (losses)...... (1,197,852) 11,735,942 18,193,022 527,103
-------------------- -------------------- -------------------- --------------------
Change in unrealized gains (losses)
on investments...................... 21,806,114 4,805,146 11,896,218 2,954,153
-------------------- -------------------- -------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments...................... 20,608,262 16,541,088 30,089,240 3,481,256
-------------------- -------------------- -------------------- --------------------
Net increase (decrease) in net assets
resulting from operations........... $ 29,729,106 $ 17,303,262 $ 29,485,259 $ 3,578,781
==================== ==================== ==================== ====================
FTVIPT TEMPLETON INVESCO V.I. INVESCO V.I. INVESCO V.I.
GLOBAL BOND VIP AMERICAN FRANCHISE CORE EQUITY EQUITY AND INCOME
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------- -------------------- --------------------
INVESTMENT INCOME:
Dividends............................. $ -- $ -- $ 1,284 $ 10,043,474
-------------------- -------------------- -------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges....................... 2,292,831 182 2,355 6,839,566
Administrative charges................ 526,190 -- -- 1,526,928
-------------------- -------------------- -------------------- --------------------
Total expenses...................... 2,819,021 182 2,355 8,366,494
-------------------- -------------------- -------------------- --------------------
Net investment income (loss)..... (2,819,021) (182) (1,071) 1,676,980
-------------------- -------------------- -------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions........... 180,806 1,110 11,513 19,411,529
Realized gains (losses) on sale of
investments......................... (3,262,508) 6 4,014 6,913,259
-------------------- -------------------- -------------------- --------------------
Net realized gains (losses)...... (3,081,702) 1,116 15,527 26,324,788
-------------------- -------------------- -------------------- --------------------
Change in unrealized gains (losses)
on investments...................... 8,927,333 (893) (647) 49,249,179
-------------------- -------------------- -------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments...................... 5,845,631 223 14,880 75,573,967
-------------------- -------------------- -------------------- --------------------
Net increase (decrease) in net assets
resulting from operations........... $ 3,026,610 $ 41 $ 13,809 $ 77,250,947
==================== ==================== ==================== ====================
INVESCO V.I. INVESCO V.I.
GROWTH AND INCOME INTERNATIONAL GROWTH
SUB-ACCOUNT SUB-ACCOUNT
-------------------- --------------------
INVESTMENT INCOME:
Dividends............................. $ 16 $ 2,872,075
-------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges....................... 38 2,720,781
Administrative charges................ -- 614,950
-------------------- --------------------
Total expenses...................... 38 3,335,731
-------------------- --------------------
Net investment income (loss)..... (22) (463,656)
-------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions........... 131 --
Realized gains (losses) on sale of
investments......................... 508 2,563,228
-------------------- --------------------
Net realized gains (losses)...... 639 2,563,228
-------------------- --------------------
Change in unrealized gains (losses)
on investments...................... (349) (7,183,922)
-------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments...................... 290 (4,620,694)
-------------------- --------------------
Net increase (decrease) in net assets
resulting from operations........... $ 268 $ (5,084,350)
==================== ====================
The accompanying notes are an integral part of these financial statements.
34
The accompanying notes are an integral part of these financial statements.
35
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 2016
LMPVET LMPVET LMPVET
IVY VIP CLEARBRIDGE VARIABLE CLEARBRIDGE VARIABLE CLEARBRIDGE VARIABLE
ASSET STRATEGY AGGRESSIVE GROWTH APPRECIATION DIVIDEND STRATEGY
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------- -------------------- --------------------
INVESTMENT INCOME:
Dividends............................ $ 1,643 $ 1,854,637 $ 5,193,655 $ 2,740,576
------------------- -------------------- -------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 3,003 3,308,705 4,494,092 2,164,250
Administrative charges............... 732 713,843 984,873 476,602
------------------- -------------------- -------------------- --------------------
Total expenses..................... 3,735 4,022,548 5,478,965 2,640,852
------------------- -------------------- -------------------- --------------------
Net investment income (loss)..... (2,092) (2,167,911) (285,310) 99,724
------------------- -------------------- -------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... -- 14,959,018 8,787,739 --
Realized gains (losses) on sale of
investments........................ (29,559) 5,231,016 9,921,449 4,502,131
------------------- -------------------- -------------------- --------------------
Net realized gains (losses)...... (29,559) 20,190,034 18,709,188 4,502,131
------------------- -------------------- -------------------- --------------------
Change in unrealized gains (losses)
on investments..................... 19,774 (18,916,437) 12,788,762 19,079,369
------------------- -------------------- -------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments..................... (9,785) 1,273,597 31,497,950 23,581,500
------------------- -------------------- -------------------- --------------------
Net increase (decrease) in net assets
resulting from operations.......... $ (11,877) $ (894,314) $ 31,212,640 $ 23,681,224
=================== ==================== ==================== ====================
LMPVET LMPVET LMPVET LMPVET ENTRUST
CLEARBRIDGE VARIABLE CLEARBRIDGE VARIABLE CLEARBRIDGE VARIABLE PERMAL ALTERNATIVE
LARGE CAP GROWTH LARGE CAP VALUE SMALL CAP GROWTH SELECT VIT
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------- -------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 16,137 $ 126,032 $ -- $ 5,147
-------------------- -------------------- -------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 51,690 117,087 1,124,895 129,978
Administrative charges............... 8,378 19,416 242,281 27,890
-------------------- -------------------- -------------------- -------------------
Total expenses..................... 60,068 136,503 1,367,176 157,868
-------------------- -------------------- -------------------- -------------------
Net investment income (loss)..... (43,931) (10,471) (1,367,176) (152,721)
-------------------- -------------------- -------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 258,677 171,309 3,986,765 --
Realized gains (losses) on sale of
investments........................ 121,277 82,435 1,295,117 (79,247)
-------------------- -------------------- -------------------- -------------------
Net realized gains (losses)...... 379,954 253,744 5,281,882 (79,247)
-------------------- -------------------- -------------------- -------------------
Change in unrealized gains (losses)
on investments..................... (188,699) 594,251 637,725 (159,883)
-------------------- -------------------- -------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 191,255 847,995 5,919,607 (239,130)
-------------------- -------------------- -------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 147,324 $ 837,524 $ 4,552,431 $ (391,851)
==================== ==================== ==================== ===================
LMPVET QS
VARIABLE LMPVET QS
CONSERVATIVE GROWTH VARIABLE GROWTH
SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 914,476 $ 1,179,697
-------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 419,036 911,416
Administrative charges............... 94,354 203,941
-------------------- -------------------
Total expenses..................... 513,390 1,115,357
-------------------- -------------------
Net investment income (loss)..... 401,086 64,340
-------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... -- 3,079,407
Realized gains (losses) on sale of
investments........................ 439,055 908,716
-------------------- -------------------
Net realized gains (losses)...... 439,055 3,988,123
-------------------- -------------------
Change in unrealized gains (losses)
on investments..................... 1,355,038 1,529,479
-------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 1,794,093 5,517,602
-------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 2,195,179 $ 5,581,942
==================== ===================
The accompanying notes are an integral part of these financial statements.
36
The accompanying notes are an integral part of these financial statements.
37
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 2016
LMPVET QS LMPVIT WESTERN
VARIABLE ASSET VARIABLE GLOBAL MFS VIT MFS VIT
MODERATE GROWTH HIGH YIELD BOND INVESTORS TRUST NEW DISCOVERY
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- --------------------- ------------------- --------------------
INVESTMENT INCOME:
Dividends............................ $ 18,261 $ 5,305,218 $ 74 $ --
-------------------- --------------------- ------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 13,636 1,012,225 119 543
Administrative charges............... 2,461 217,886 -- --
-------------------- --------------------- ------------------- --------------------
Total expenses..................... 16,097 1,230,111 119 543
-------------------- --------------------- ------------------- --------------------
Net investment income (loss).... 2,164 4,075,107 (45) (543)
-------------------- --------------------- ------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 12,030 -- 948 1,780
Realized gains (losses) on sale of
investments........................ 93,381 (1,878,440) 173 35
-------------------- --------------------- ------------------- --------------------
Net realized gains (losses)..... 105,411 (1,878,440) 1,121 1,815
-------------------- --------------------- ------------------- --------------------
Change in unrealized gains (losses)
on investments..................... (54,300) 9,237,046 (484) 1,685
-------------------- --------------------- ------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 51,111 7,358,606 637 3,500
-------------------- --------------------- ------------------- --------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 53,275 $ 11,433,713 $ 592 $ 2,957
==================== ===================== =================== ====================
MIST
ALLIANZ GLOBAL MIST AMERICAN
MIST AB GLOBAL INVESTORS DYNAMIC FUNDS BALANCED
MFS VIT RESEARCH DYNAMIC ALLOCATION MULTI-ASSET PLUS ALLOCATION
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- ------------------- ------------------- --------------------
INVESTMENT INCOME:
Dividends............................ $ 164 $ 50,731,097 $ 36,043 $ 50,441,227
-------------------- ------------------- ------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 295 36,777,457 819,803 39,738,813
Administrative charges............... -- 7,979,779 185,964 7,780,713
-------------------- ------------------- ------------------- --------------------
Total expenses..................... 295 44,757,236 1,005,767 47,519,526
-------------------- ------------------- ------------------- --------------------
Net investment income (loss).... (131) 5,973,861 (969,724) 2,921,701
-------------------- ------------------- ------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 2,108 32,693,374 -- 262,537,468
Realized gains (losses) on sale of
investments........................ 1,753 19,025,020 (35,898) 13,233,629
-------------------- ------------------- ------------------- --------------------
Net realized gains (losses)..... 3,861 51,718,394 (35,898) 275,771,097
-------------------- ------------------- ------------------- --------------------
Change in unrealized gains (losses)
on investments..................... (2,546) 9,838,368 1,607,504 (91,485,327)
-------------------- ------------------- ------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 1,315 61,556,762 1,571,606 184,285,770
-------------------- ------------------- ------------------- --------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 1,184 $ 67,530,623 $ 601,882 $ 187,207,471
==================== =================== =================== ====================
MIST AMERICAN
FUNDS GROWTH MIST AMERICAN
ALLOCATION FUNDS GROWTH
SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 22,329,038 $ 1,845,153
------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 22,476,214 7,889,256
Administrative charges............... 4,278,668 1,563,886
------------------- -------------------
Total expenses..................... 26,754,882 9,453,142
------------------- -------------------
Net investment income (loss).... (4,425,844) (7,607,989)
------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 173,885,187 158,016,892
Realized gains (losses) on sale of
investments........................ 10,875,441 9,109,380
------------------- -------------------
Net realized gains (losses)..... 184,760,628 167,126,272
------------------- -------------------
Change in unrealized gains (losses)
on investments..................... (60,183,857) (113,400,426)
------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 124,576,771 53,725,846
------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 120,150,927 $ 46,117,857
=================== ===================
The accompanying notes are an integral part of these financial statements.
38
The accompanying notes are an integral part of these financial statements.
39
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 2016
MIST AMERICAN MIST AQR MIST BLACKROCK
FUNDS MODERATE GLOBAL RISK GLOBAL TACTICAL MIST BLACKROCK
ALLOCATION BALANCED STRATEGIES HIGH YIELD
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- ------------------- ------------------- --------------------
INVESTMENT INCOME:
Dividends............................ $ 30,244,827 $ -- $ 73,694,587 $ 15,050,635
-------------------- ------------------- ------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 20,054,628 28,155,958 58,392,165 2,912,058
Administrative charges............... 3,944,879 6,112,777 12,647,962 558,329
-------------------- ------------------- ------------------- --------------------
Total expenses..................... 23,999,507 34,268,735 71,040,127 3,470,387
-------------------- ------------------- ------------------- --------------------
Net investment income (loss).... 6,245,320 (34,268,735) 2,654,460 11,580,248
-------------------- ------------------- ------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 102,738,871 -- 415,501,718 --
Realized gains (losses) on sale of
investments........................ 4,407,233 (47,850,610) 1,407,383 (3,986,750)
-------------------- ------------------- ------------------- --------------------
Net realized gains (losses)..... 107,146,104 (47,850,610) 416,909,101 (3,986,750)
-------------------- ------------------- ------------------- --------------------
Change in unrealized gains (losses)
on investments..................... (30,620,445) 257,505,457 (270,413,192) 18,199,885
-------------------- ------------------- ------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 76,525,659 209,654,847 146,495,909 14,213,135
-------------------- ------------------- ------------------- --------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 82,770,979 $ 175,386,112 $ 149,150,369 $ 25,793,383
==================== =================== =================== ====================
MIST MIST
MIST CLARION MIST CLEARBRIDGE GOLDMAN SACHS HARRIS OAKMARK
GLOBAL REAL ESTATE AGGRESSIVE GROWTH MID CAP VALUE INTERNATIONAL
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- ------------------- ------------------- --------------------
INVESTMENT INCOME:
Dividends............................ $ 5,689,822 $ 1,904,589 $ 1,116,854 $ 11,982,379
-------------------- ------------------- ------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 3,478,679 6,314,227 1,796,620 7,431,652
Administrative charges............... 687,711 1,178,598 334,859 1,401,474
-------------------- ------------------- ------------------- --------------------
Total expenses..................... 4,166,390 7,492,825 2,131,479 8,833,126
-------------------- ------------------- ------------------- --------------------
Net investment income (loss).... 1,523,432 (5,588,236) (1,014,625) 3,149,253
-------------------- ------------------- ------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... -- -- 10,427,889 37,808,030
Realized gains (losses) on sale of
investments........................ 1,382,227 22,877,688 (4,103,366) (11,489,689)
-------------------- ------------------- ------------------- --------------------
Net realized gains (losses)..... 1,382,227 22,877,688 6,324,523 26,318,341
-------------------- ------------------- ------------------- --------------------
Change in unrealized gains (losses)
on investments..................... (4,178,951) (14,020,970) 9,272,110 6,566,866
-------------------- ------------------- ------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments..................... (2,796,724) 8,856,718 15,596,633 32,885,207
-------------------- ------------------- ------------------- --------------------
Net increase (decrease) in net assets
resulting from operations.......... $ (1,273,292) $ 3,268,482 $ 14,582,008 $ 36,034,460
==================== =================== =================== ====================
MIST INVESCO
BALANCED-RISK MIST INVESCO
ALLOCATION COMSTOCK
SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 1,246,922 $ 17,315,242
------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 9,450,825 8,118,905
Administrative charges............... 2,097,722 1,709,918
------------------- -------------------
Total expenses..................... 11,548,547 9,828,823
------------------- -------------------
Net investment income (loss).... (10,301,625) 7,486,419
------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... -- 53,012,772
Realized gains (losses) on sale of
investments........................ (2,513,753) 10,612,442
------------------- -------------------
Net realized gains (losses)..... (2,513,753) 63,625,214
------------------- -------------------
Change in unrealized gains (losses)
on investments..................... 91,035,525 32,001,192
------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 88,521,772 95,626,406
------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 78,220,147 $ 103,112,825
=================== ===================
The accompanying notes are an integral part of these financial statements.
40
The accompanying notes are an integral part of these financial statements.
41
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 2016
MIST JPMORGAN
MIST INVESCO MIST INVESCO MIST JPMORGAN GLOBAL ACTIVE
MID CAP VALUE SMALL CAP GROWTH CORE BOND ALLOCATION
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- -------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 1,560,899 $ -- $ 9,459,334 $ 22,147,328
------------------- ------------------- -------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 3,137,911 3,680,465 4,393,629 11,819,261
Administrative charges............... 620,822 706,460 850,802 2,606,012
------------------- ------------------- -------------------- -------------------
Total expenses..................... 3,758,733 4,386,925 5,244,431 14,425,273
------------------- ------------------- -------------------- -------------------
Net investment income (loss)..... (2,197,834) (4,386,925) 4,214,903 7,722,055
------------------- ------------------- -------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 12,023,141 53,135,762 -- 17,755,242
Realized gains (losses) on sale of
investments........................ 1,072,199 (3,255,635) (155,743) 110,809
------------------- ------------------- -------------------- -------------------
Net realized gains (losses)...... 13,095,340 49,880,127 (155,743) 17,866,051
------------------- ------------------- -------------------- -------------------
Change in unrealized gains (losses)
on investments..................... 22,991,597 (18,425,902) (2,012,185) (9,890,380)
------------------- ------------------- -------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 36,086,937 31,454,225 (2,167,928) 7,975,671
------------------- ------------------- -------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 33,889,103 $ 27,067,300 $ 2,046,975 $ 15,697,726
=================== =================== ==================== ===================
MIST MET/ABERDEEN MIST
MIST JPMORGAN MIST LOOMIS SAYLES EMERGING MET/ARTISAN
SMALL CAP VALUE GLOBAL MARKETS MARKETS EQUITY INTERNATIONAL
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- ------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 434,384 $ 2,565,861 $ 3,699,000 $ 2,271
------------------- ------------------- ------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 348,354 1,999,125 4,846,361 2,203
Administrative charges............... 58,673 384,602 948,439 565
------------------- ------------------- ------------------- -------------------
Total expenses..................... 407,027 2,383,727 5,794,800 2,768
------------------- ------------------- ------------------- -------------------
Net investment income (loss)..... 27,357 182,134 (2,095,800) (497)
------------------- ------------------- ------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 1,580,556 4,908,603 -- --
Realized gains (losses) on sale of
investments........................ 410,095 4,691,819 (3,800,343) (407)
------------------- ------------------- ------------------- -------------------
Net realized gains (losses)...... 1,990,651 9,600,422 (3,800,343) (407)
------------------- ------------------- ------------------- -------------------
Change in unrealized gains (losses)
on investments..................... 4,123,036 (5,021,627) 42,924,968 (17,443)
------------------- ------------------- ------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 6,113,687 4,578,795 39,124,625 (17,850)
------------------- ------------------- ------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 6,141,044 $ 4,760,929 $ 37,028,825 $ (18,347)
=================== =================== =================== ===================
MIST MIST MET/FRANKLIN
MET/EATON VANCE LOW DURATION
FLOATING RATE TOTAL RETURN
SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 2,552,404 $ 4,314,336
------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 861,282 1,937,406
Administrative charges............... 158,795 371,633
------------------- -------------------
Total expenses..................... 1,020,077 2,309,039
------------------- -------------------
Net investment income (loss)..... 1,532,327 2,005,297
------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... -- --
Realized gains (losses) on sale of
investments........................ (526,227) (1,131,686)
------------------- -------------------
Net realized gains (losses)...... (526,227) (1,131,686)
------------------- -------------------
Change in unrealized gains (losses)
on investments..................... 3,593,742 1,355,961
------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 3,067,515 224,275
------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 4,599,842 $ 2,229,572
=================== ===================
The accompanying notes are an integral part of these financial statements.
42
The accompanying notes are an integral part of these financial statements.
43
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 2016
MIST MET/TEMPLETON MIST MET/WELLINGTON MIST METLIFE MIST METLIFE
INTERNATIONAL BOND LARGE CAP RESEARCH ASSET ALLOCATION 100 BALANCED PLUS
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------- -------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ -- $ 342,997 $ 12,552,713 $ 193,989,835
-------------------- -------------------- -------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 496,319 217,503 7,521,041 77,898,430
Administrative charges............... 98,780 37,623 1,385,310 16,933,783
-------------------- -------------------- -------------------- -------------------
Total expenses..................... 595,099 255,126 8,906,351 94,832,213
-------------------- -------------------- -------------------- -------------------
Net investment income (loss).... (595,099) 87,871 3,646,362 99,157,622
-------------------- -------------------- -------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 103,701 1,009,211 71,611,482 75,092,839
Realized gains (losses) on sale of
investments........................ (1,111,932) 495,887 6,103,032 8,453,422
-------------------- -------------------- -------------------- -------------------
Net realized gains (losses)..... (1,008,231) 1,505,098 77,714,514 83,546,261
-------------------- -------------------- -------------------- -------------------
Change in unrealized gains (losses)
on investments..................... 1,285,705 (634,599) (42,750,032) 262,223,058
-------------------- -------------------- -------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 277,474 870,499 34,964,482 345,769,319
-------------------- -------------------- -------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ (317,625) $ 958,370 $ 38,610,844 $ 444,926,941
==================== ==================== ==================== ===================
MIST METLIFE MIST MIST
MULTI-INDEX MIST METLIFE MFS RESEARCH MORGAN STANLEY
TARGETED RISK SMALL CAP VALUE INTERNATIONAL MID CAP GROWTH
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------- ------------------- --------------------
INVESTMENT INCOME:
Dividends............................ $ 9,856,708 $ 2,555,004 $ 5,119,943 $ --
------------------- -------------------- ------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 8,357,124 3,274,753 3,414,916 2,419,104
Administrative charges............... 1,871,270 589,464 617,875 508,485
------------------- -------------------- ------------------- --------------------
Total expenses..................... 10,228,394 3,864,217 4,032,791 2,927,589
------------------- -------------------- ------------------- --------------------
Net investment income (loss).... (371,686) (1,309,213) 1,087,152 (2,927,589)
------------------- -------------------- ------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... -- 6,504,133 -- --
Realized gains (losses) on sale of
investments........................ 284,022 (1,441,719) (1,908,775) 2,940,257
------------------- -------------------- ------------------- --------------------
Net realized gains (losses)..... 284,022 5,062,414 (1,908,775) 2,940,257
------------------- -------------------- ------------------- --------------------
Change in unrealized gains (losses)
on investments..................... 23,166,215 59,471,093 (5,640,472) (20,657,747)
------------------- -------------------- ------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 23,450,237 64,533,507 (7,549,247) (17,717,490)
------------------- -------------------- ------------------- --------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 23,078,551 $ 63,224,294 $ (6,462,095) $ (20,645,079)
=================== ==================== =================== ====================
MIST
MIST OPPENHEIMER PANAGORA GLOBAL
GLOBAL EQUITY DIVERSIFIED RISK
SUB-ACCOUNT SUB-ACCOUNT
------------------- --------------------
INVESTMENT INCOME:
Dividends............................ $ 551,818 $ 1,670,165
------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 696,796 568,067
Administrative charges............... 149,868 123,803
------------------- --------------------
Total expenses..................... 846,664 691,870
------------------- --------------------
Net investment income (loss).... (294,846) 978,295
------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 3,028,728 1,840,977
Realized gains (losses) on sale of
investments........................ 477,524 (24,958)
------------------- --------------------
Net realized gains (losses)..... 3,506,252 1,816,019
------------------- --------------------
Change in unrealized gains (losses)
on investments..................... (4,061,196) (2,298,273)
------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments..................... (554,944) (482,254)
------------------- --------------------
Net increase (decrease) in net assets
resulting from operations.......... $ (849,790) $ 496,041
=================== ====================
The accompanying notes are an integral part of these financial statements.
44
The accompanying notes are an integral part of these financial statements.
45
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 2016
MIST
PIMCO INFLATION MIST MIST PYRAMIS MIST PYRAMIS
PROTECTED BOND PIMCO TOTAL RETURN GOVERNMENT INCOME MANAGED RISK
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- ------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ -- $ 39,078,371 $ 15,114,830 $ 2,977,945
------------------- ------------------- ------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 8,329,456 19,829,371 8,205,419 4,653,570
Administrative charges............... 1,568,702 3,681,539 1,787,609 990,321
------------------- ------------------- ------------------- -------------------
Total expenses..................... 9,898,158 23,510,910 9,993,028 5,643,891
------------------- ------------------- ------------------- -------------------
Net investment income (loss)..... (9,898,158) 15,567,461 5,121,802 (2,665,946)
------------------- ------------------- ------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... -- -- -- 1,004,608
Realized gains (losses) on sale of
investments........................ (10,740,646) (9,752,580) 484,438 122,005
------------------- ------------------- ------------------- -------------------
Net realized gains (losses)...... (10,740,646) (9,752,580) 484,438 1,126,613
------------------- ------------------- ------------------- -------------------
Change in unrealized gains (losses)
on investments..................... 40,944,062 11,149,277 (5,834,587) 14,310,453
------------------- ------------------- ------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 30,203,416 1,396,697 (5,350,149) 15,437,066
------------------- ------------------- ------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 20,305,258 $ 16,964,158 $ (228,347) $ 12,771,120
=================== =================== =================== ===================
MIST SCHRODERS MIST SSGA GROWTH MIST SSGA MIST T. ROWE PRICE
GLOBAL MULTI-ASSET AND INCOME ETF GROWTH ETF LARGE CAP VALUE
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- ------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 8,027,854 $ 31,171,594 $ 9,616,385 $ 19,957,364
------------------- ------------------- ------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 6,635,082 16,470,020 5,795,709 9,280,758
Administrative charges............... 1,434,620 3,289,078 1,125,640 1,360,601
------------------- ------------------- ------------------- -------------------
Total expenses..................... 8,069,702 19,759,098 6,921,349 10,641,359
------------------- ------------------- ------------------- -------------------
Net investment income (loss)..... (41,848) 11,412,496 2,695,036 9,316,005
------------------- ------------------- ------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 7,829,635 75,636,956 28,849,155 81,270,170
Realized gains (losses) on sale of
investments........................ 1,292,242 1,052,483 1,860,377 16,194,001
------------------- ------------------- ------------------- -------------------
Net realized gains (losses)...... 9,121,877 76,689,439 30,709,532 97,464,171
------------------- ------------------- ------------------- -------------------
Change in unrealized gains (losses)
on investments..................... 14,289,470 (34,109,060) (11,006,299) (12,601,645)
------------------- ------------------- ------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 23,411,347 42,580,379 19,703,233 84,862,526
------------------- ------------------- ------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 23,369,499 $ 53,992,875 $ 22,398,269 $ 94,178,531
=================== =================== =================== ===================
MIST T. ROWE PRICE MIST TCW
MID CAP GROWTH CORE FIXED INCOME
SUB-ACCOUNT SUB-ACCOUNT
------------------ -------------------
INVESTMENT INCOME:
Dividends............................ $ -- $ 1,323
------------------ -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 6,172,633 1,995
Administrative charges............... 1,161,143 440
------------------ -------------------
Total expenses..................... 7,333,776 2,435
------------------ -------------------
Net investment income (loss)..... (7,333,776) (1,112)
------------------ -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 71,526,189 --
Realized gains (losses) on sale of
investments........................ 6,058,041 (86)
------------------ -------------------
Net realized gains (losses)...... 77,584,230 (86)
------------------ -------------------
Change in unrealized gains (losses)
on investments..................... (49,804,269) (1,515)
------------------ -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 27,779,961 (1,601)
------------------ -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 20,446,185 $ (2,713)
================== ===================
The accompanying notes are an integral part of these financial statements.
46
The accompanying notes are an integral part of these financial statements.
47
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 2016
MSF BAILLIE GIFFORD MSF BARCLAYS MSF BLACKROCK MSF BLACKROCK
INTERNATIONAL STOCK AGGREGATE BOND INDEX BOND INCOME CAPITAL APPRECIATION
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------- ------------------- --------------------
INVESTMENT INCOME:
Dividends............................ $ 3,124,711 $ 8,499,133 $ 2,143,053 $ --
-------------------- -------------------- ------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 2,915,899 3,806,697 953,728 187,916
Administrative charges............... 567,711 756,032 167,591 29,569
-------------------- -------------------- ------------------- --------------------
Total expenses..................... 3,483,610 4,562,729 1,121,319 217,485
-------------------- -------------------- ------------------- --------------------
Net investment income (loss).... (358,899) 3,936,404 1,021,734 (217,485)
-------------------- -------------------- ------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... -- -- -- 1,209,457
Realized gains (losses) on sale of
investments........................ 1,625,583 (40,488) (7,093) 189,288
-------------------- -------------------- ------------------- --------------------
Net realized gains (losses)..... 1,625,583 (40,488) (7,093) 1,398,745
-------------------- -------------------- ------------------- --------------------
Change in unrealized gains (losses)
on investments..................... 7,350,769 (2,592,464) (212,769) (1,411,365)
-------------------- -------------------- ------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 8,976,352 (2,632,952) (219,862) (12,620)
-------------------- -------------------- ------------------- --------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 8,617,453 $ 1,303,452 $ 801,872 $ (230,105)
==================== ==================== =================== ====================
MSF BLACKROCK
MSF BLACKROCK ULTRA-SHORT MSF FRONTIER MSF
LARGE CAP VALUE TERM BOND MID CAP GROWTH JENNISON GROWTH
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- -------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 72,678 $ 11,092 $ -- $ 117,811
------------------- ------------------- -------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 56,653 5,011,497 937,998 6,211,086
Administrative charges............... 1,942 945,912 173,282 1,131,234
------------------- ------------------- -------------------- -------------------
Total expenses..................... 58,595 5,957,409 1,111,280 7,342,320
------------------- ------------------- -------------------- -------------------
Net investment income (loss).... 14,083 (5,946,317) (1,111,280) (7,224,509)
------------------- ------------------- -------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 341,375 7,341 8,784,013 61,040,589
Realized gains (losses) on sale of
investments........................ (156,674) 49,949 (433,894) 5,556,083
------------------- ------------------- -------------------- -------------------
Net realized gains (losses)..... 184,701 57,290 8,350,119 66,596,672
------------------- ------------------- -------------------- -------------------
Change in unrealized gains (losses)
on investments..................... 531,674 390,465 (4,923,796) (68,013,517)
------------------- ------------------- -------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 716,375 447,755 3,426,323 (1,416,845)
------------------- ------------------- -------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 730,458 $ (5,498,562) $ 2,315,043 $ (8,641,354)
=================== =================== ==================== ===================
MSF LOOMIS SAYLES MSF LOOMIS SAYLES
SMALL CAP CORE SMALL CAP GROWTH
SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 8,723 $ --
-------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 190,087 2,698
Administrative charges............... 32,038 690
-------------------- -------------------
Total expenses..................... 222,125 3,388
-------------------- -------------------
Net investment income (loss).... (213,402) (3,388)
-------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 1,208,694 36,612
Realized gains (losses) on sale of
investments........................ 44,571 (12,047)
-------------------- -------------------
Net realized gains (losses)..... 1,253,265 24,565
-------------------- -------------------
Change in unrealized gains (losses)
on investments..................... 1,063,527 (5,480)
-------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 2,316,792 19,085
-------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 2,103,390 $ 15,697
==================== ===================
The accompanying notes are an integral part of these financial statements.
48
The accompanying notes are an integral part of these financial statements.
49
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 2016
MSF MET/DIMENSIONAL MSF MET/WELLINGTON
MSF MET/ARTISAN INTERNATIONAL SMALL CORE EQUITY MSF METLIFE
MID CAP VALUE COMPANY OPPORTUNITIES ASSET ALLOCATION 20
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------- -------------------- -------------------
INVESTMENT INCOME:
Dividends............................. $ 1,779,254 $ 1,114,995 $ 12,066,782 $ 3,162,991
-------------------- -------------------- -------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges....................... 2,744,306 771,834 9,110,796 1,301,530
Administrative charges................ 475,467 145,179 1,736,517 245,259
-------------------- -------------------- -------------------- -------------------
Total expenses...................... 3,219,773 917,013 10,847,313 1,546,789
-------------------- -------------------- -------------------- -------------------
Net investment income (loss)..... (1,440,519) 197,982 1,219,469 1,616,202
-------------------- -------------------- -------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions........... 22,940,002 3,654,706 35,483,887 3,277,528
Realized gains (losses) on sale of
investments......................... (349,232) (1,695,195) (601,363) (809,528)
-------------------- -------------------- -------------------- -------------------
Net realized gains (losses)...... 22,590,770 1,959,511 34,882,524 2,468,000
-------------------- -------------------- -------------------- -------------------
Change in unrealized gains (losses)
on investments...................... 17,360,148 (120,230) (1,075,951) (1,234,614)
-------------------- -------------------- -------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments...................... 39,950,918 1,839,281 33,806,573 1,233,386
-------------------- -------------------- -------------------- -------------------
Net increase (decrease) in net assets
resulting from operations........... $ 38,510,399 $ 2,037,263 $ 35,026,042 $ 2,849,588
==================== ==================== ==================== ===================
MSF METLIFE MSF METLIFE MSF METLIFE MSF METLIFE
ASSET ALLOCATION 40 ASSET ALLOCATION 60 ASSET ALLOCATION 80 MID CAP STOCK INDEX
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------- ------------------- --------------------
INVESTMENT INCOME:
Dividends............................. $ 145,507,570 $ 203,430,736 $ 165,044,038 $ 1,360,471
-------------------- -------------------- ------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges....................... 54,157,824 85,356,301 76,194,576 1,671,516
Administrative charges................ 10,249,383 16,151,713 14,005,812 240,989
-------------------- -------------------- ------------------- --------------------
Total expenses...................... 64,407,207 101,508,014 90,200,388 1,912,505
-------------------- -------------------- ------------------- --------------------
Net investment income (loss)..... 81,100,363 101,922,722 74,843,650 (552,034)
-------------------- -------------------- ------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions........... 267,842,974 586,839,040 668,110,960 9,836,643
Realized gains (losses) on sale of
investments......................... (31,873,123) (55,792,780) (46,598,135) 1,826,117
-------------------- -------------------- ------------------- --------------------
Net realized gains (losses)...... 235,969,851 531,046,260 621,512,825 11,662,760
-------------------- -------------------- ------------------- --------------------
Change in unrealized gains (losses)
on investments...................... (140,238,049) (294,350,528) (352,024,646) 11,268,443
-------------------- -------------------- ------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments...................... 95,731,802 236,695,732 269,488,179 22,931,203
-------------------- -------------------- ------------------- --------------------
Net increase (decrease) in net assets
resulting from operations........... $ 176,832,165 $ 338,618,454 $ 344,331,829 $ 22,379,169
==================== ==================== =================== ====================
MSF METLIFE MSF MFS
STOCK INDEX TOTAL RETURN
SUB-ACCOUNT SUB-ACCOUNT
-------------------- --------------------
INVESTMENT INCOME:
Dividends............................. $ 10,284,792 $ 1,156,621
-------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges....................... 7,718,778 562,738
Administrative charges................ 1,227,491 80,650
-------------------- --------------------
Total expenses...................... 8,946,269 643,388
-------------------- --------------------
Net investment income (loss)..... 1,338,523 513,233
-------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions........... 25,252,378 1,760,590
Realized gains (losses) on sale of
investments......................... 18,796,058 849,000
-------------------- --------------------
Net realized gains (losses)...... 44,048,436 2,609,590
-------------------- --------------------
Change in unrealized gains (losses)
on investments...................... 6,384,703 (168,660)
-------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments...................... 50,433,139 2,440,930
-------------------- --------------------
Net increase (decrease) in net assets
resulting from operations........... $ 51,771,662 $ 2,954,163
==================== ====================
The accompanying notes are an integral part of these financial statements.
50
The accompanying notes are an integral part of these financial statements.
51
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 2016
MSF MSCI MSF NEUBERGER MSF
MSF MFS VALUE EAFE INDEX BERMAN GENESIS RUSSELL 2000 INDEX
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- -------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 5,475,380 $ 2,441,127 $ 292,274 $ 1,353,038
------------------- ------------------- -------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 3,485,188 1,288,121 1,743,533 1,657,725
Administrative charges............... 635,085 212,763 292,481 284,076
------------------- ------------------- -------------------- -------------------
Total expenses..................... 4,120,273 1,500,884 2,036,014 1,941,801
------------------- ------------------- -------------------- -------------------
Net investment income (loss)..... 1,355,107 940,243 (1,743,740) (588,763)
------------------- ------------------- -------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 23,911,092 -- -- 7,315,476
Realized gains (losses) on sale of
investments........................ (405,054) (241,323) 4,670,391 3,307,819
------------------- ------------------- -------------------- -------------------
Net realized gains (losses)...... 23,506,038 (241,323) 4,670,391 10,623,295
------------------- ------------------- -------------------- -------------------
Change in unrealized gains (losses)
on investments..................... 5,602,006 (858,390) 16,403,111 12,954,748
------------------- ------------------- -------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 29,108,044 (1,099,713) 21,073,502 23,578,043
------------------- ------------------- -------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 30,463,151 $ (159,470) $ 19,329,762 $ 22,989,280
=================== =================== ==================== ===================
MSF VAN ECK MSF WESTERN ASSET
MSF T. ROWE PRICE MSF T. ROWE PRICE GLOBAL NATURAL MANAGEMENT STRATEGIC
LARGE CAP GROWTH SMALL CAP GROWTH RESOURCES BOND OPPORTUNITIES
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- ------------------- --------------------
INVESTMENT INCOME:
Dividends............................ $ 2,856 $ 17,815 $ 512,882 $ 16,508,031
------------------- ------------------- ------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 2,809,406 161,122 1,112,116 8,464,400
Administrative charges............... 514,506 14,698 217,934 1,785,441
------------------- ------------------- ------------------- --------------------
Total expenses..................... 3,323,912 175,820 1,330,050 10,249,841
------------------- ------------------- ------------------- --------------------
Net investment income (loss)..... (3,321,056) (158,005) (817,168) 6,258,190
------------------- ------------------- ------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 25,799,820 1,608,225 -- --
Realized gains (losses) on sale of
investments........................ (1,624,992) 129,282 (8,797,189) 1,831,076
------------------- ------------------- ------------------- --------------------
Net realized gains (losses)...... 24,174,828 1,737,507 (8,797,189) 1,831,076
------------------- ------------------- ------------------- --------------------
Change in unrealized gains (losses)
on investments..................... (21,885,537) (343,061) 41,329,617 30,665,968
------------------- ------------------- ------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 2,289,291 1,394,446 32,532,428 32,497,044
------------------- ------------------- ------------------- --------------------
Net increase (decrease) in net assets
resulting from operations.......... $ (1,031,765) $ 1,236,441 $ 31,715,260 $ 38,755,234
=================== =================== =================== ====================
MSF WESTERN ASSET
MANAGEMENT NEUBERGER
U.S. GOVERNMENT BERMAN GENESIS
SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 6,339,405 $ 4
------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 3,134,930 64
Administrative charges............... 662,883 --
------------------- -------------------
Total expenses..................... 3,797,813 64
------------------- -------------------
Net investment income (loss)..... 2,541,592 (60)
------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... -- 468
Realized gains (losses) on sale of
investments........................ (359,178) 627
------------------- -------------------
Net realized gains (losses)...... (359,178) 1,095
------------------- -------------------
Change in unrealized gains (losses)
on investments..................... (3,071,886) 214
------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... (3,431,064) 1,309
------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ (889,472) $ 1,249
=================== ===================
The accompanying notes are an integral part of these financial statements.
52
The accompanying notes are an integral part of these financial statements.
53
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS -- (CONTINUED)
FOR THE YEAR ENDED DECEMBER 31, 2016
OPPENHEIMER VA
OPPENHEIMER VA OPPENHEIMER VA MAIN STREET OPPENHEIMER VA
CORE BOND GOVERNMENT MONEY SMALL CAP MAIN STREET
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- ------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 263 $ -- $ 272,289 $ 1,176
------------------- ------------------- ------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 98 48 1,196,875 1,440
Administrative charges............... -- -- 269,062 --
------------------- ------------------- ------------------- -------------------
Total expenses..................... 98 48 1,465,937 1,440
------------------- ------------------- ------------------- -------------------
Net investment income (loss)..... 165 (48) (1,193,648) (264)
------------------- ------------------- ------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... -- -- 4,186,348 12,502
Realized gains (losses) on sale of
investments........................ (587) -- 2,313,742 2,222
------------------- ------------------- ------------------- -------------------
Net realized gains (losses)...... (587) -- 6,500,090 14,724
------------------- ------------------- ------------------- -------------------
Change in unrealized gains (losses)
on investments..................... 571 -- 11,237,743 (4,604)
------------------- ------------------- ------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... (16) -- 17,737,833 10,120
------------------- ------------------- ------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 149 $ (48) $ 16,544,185 $ 9,856
=================== =================== =================== ===================
PIMCO VIT PIMCO VIT
COMMODITYREALRETURN EMERGING MARKETS PIMCO VIT PIONEER VCT
STRATEGY BOND UNCONSTRAINED BOND MID CAP VALUE
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------- ------------------- ------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 3,293 $ 26,654 $ 6,133 $ 297,602
------------------- ------------------- ------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 3,839 5,563 4,767 713,512
Administrative charges............... 908 1,233 1,076 157,278
------------------- ------------------- ------------------- -------------------
Total expenses..................... 4,747 6,796 5,843 870,790
------------------- ------------------- ------------------- -------------------
Net investment income (loss)..... (1,454) 19,858 290 (573,188)
------------------- ------------------- ------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... -- -- -- 3,977,103
Realized gains (losses) on sale of
investments........................ (4,882) (739) (3,758) 216,903
------------------- ------------------- ------------------- -------------------
Net realized gains (losses)...... (4,882) (739) (3,758) 4,194,006
------------------- ------------------- ------------------- -------------------
Change in unrealized gains (losses)
on investments..................... 50,041 34,366 18,128 5,084,247
------------------- ------------------- ------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 45,159 33,627 14,370 9,278,253
------------------- ------------------- ------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 43,705 $ 53,485 $ 14,660 $ 8,705,065
=================== =================== =================== ===================
PIONEER VCT T. ROWE PRICE
REAL ESTATE SHARES GOVERNMENT MONEY
SUB-ACCOUNT SUB-ACCOUNT
------------------- -------------------
INVESTMENT INCOME:
Dividends............................ $ 7,757 $ 91
------------------- -------------------
EXPENSES:
Mortality and expense risk and
other charges...................... 3,230 5,111
Administrative charges............... 586 --
------------------- -------------------
Total expenses..................... 3,816 5,111
------------------- -------------------
Net investment income (loss)..... 3,941 (5,020)
------------------- -------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions.......... 43,343 --
Realized gains (losses) on sale of
investments........................ 4,077 --
------------------- -------------------
Net realized gains (losses)...... 47,420 --
------------------- -------------------
Change in unrealized gains (losses)
on investments..................... (40,983) --
------------------- -------------------
Net realized and change in
unrealized gains (losses)
on investments..................... 6,437 --
------------------- -------------------
Net increase (decrease) in net assets
resulting from operations.......... $ 10,378 $ (5,020)
=================== ===================
The accompanying notes are an integral part of these financial statements.
54
The accompanying notes are an integral part of these financial statements.
55
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF OPERATIONS -- (CONCLUDED)
FOR THE YEAR ENDED DECEMBER 31, 2016
TAP 1919 VARIABLE
T. ROWE PRICE T. ROWE PRICE SOCIALLY RESPONSIVE
GROWTH STOCK INTERNATIONAL STOCK BALANCED
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
-------------------- -------------------- --------------------
INVESTMENT INCOME:
Dividends.............................. $ 4,697 $ 4,670 $ 1,344
-------------------- -------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges....................... 57,273 3,638 2,023
Administrative charges................. -- -- 378
-------------------- -------------------- --------------------
Total expenses...................... 57,273 3,638 2,401
-------------------- -------------------- --------------------
Net investment income (loss)...... (52,576) 1,032 (1,057)
-------------------- -------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions............ 133,875 3,687 8,987
Realized gains (losses) on sale of
investments......................... 278,969 4,407 (670)
-------------------- -------------------- --------------------
Net realized gains (losses)....... 412,844 8,094 8,317
-------------------- -------------------- --------------------
Change in unrealized gains (losses)
on investments...................... (355,528) (3,274) (2,565)
-------------------- -------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments...................... 57,316 4,820 5,752
-------------------- -------------------- --------------------
Net increase (decrease) in net assets
resulting from operations........... $ 4,740 $ 5,852 $ 4,695
==================== ==================== ====================
VANECK VIP
UIF GLOBAL LONG/SHORT
INFRASTRUCTURE EQUITY INDEX
SUB-ACCOUNT SUB-ACCOUNT
-------------------- --------------------
INVESTMENT INCOME:
Dividends.............................. $ 9,603 $ 564
-------------------- --------------------
EXPENSES:
Mortality and expense risk and
other charges....................... 4,882 4,114
Administrative charges................. 1,131 968
-------------------- --------------------
Total expenses...................... 6,013 5,082
-------------------- --------------------
Net investment income (loss)...... 3,590 (4,518)
-------------------- --------------------
NET REALIZED AND CHANGE IN
UNREALIZED GAINS (LOSSES)
ON INVESTMENTS:
Realized gain distributions............ 27,840 --
Realized gains (losses) on sale of
investments......................... (2,302) (92)
-------------------- --------------------
Net realized gains (losses)....... 25,538 (92)
-------------------- --------------------
Change in unrealized gains (losses)
on investments...................... 25,505 11,722
-------------------- --------------------
Net realized and change in
unrealized gains (losses)
on investments...................... 51,043 11,630
-------------------- --------------------
Net increase (decrease) in net assets
resulting from operations........... $ 54,633 $ 7,112
==================== ====================
The accompanying notes are an integral part of these financial statements.
56
The accompanying notes are an integral part of these financial statements.
57
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
ALGER SMALL CAP GROWTH AMERICAN FUNDS BOND
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (594,785) $ (745,798) $ 422,201 $ 497,074
Net realized gains (losses).... 4,595,904 14,305,544 774,546 3,091,093
Change in unrealized gains
(losses) on investments...... (2,062,118) (15,807,878) 1,209,210 (5,130,676)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... 1,939,001 (2,248,132) 2,405,957 (1,542,509)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 675,935 982,185 2,031,146 2,549,990
Net transfers (including fixed
account)..................... (1,615,754) (2,181,134) (3,839,661) 6,226,955
Contract charges............... (5,793) (6,826) (1,722,627) (1,620,152)
Transfers for contract benefits
and terminations............. (3,112,099) (5,533,752) (12,665,730) (10,348,245)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... (4,057,711) (6,739,527) (16,196,872) (3,191,452)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets............. (2,118,710) (8,987,659) (13,790,915) (4,733,961)
NET ASSETS:
Beginning of year.............. 48,208,209 57,195,868 146,511,985 151,245,946
---------------- ---------------- ---------------- ----------------
End of year.................... $ 46,089,499 $ 48,208,209 $ 132,721,070 $ 146,511,985
================ ================ ================ ================
AMERICAN FUNDS
AMERICAN FUNDS GLOBAL GROWTH GLOBAL SMALL CAPITALIZATION
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
----------------- ---------------- ---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (1,505,705) $ (1,442,852) $ (1,189,876) $ (1,679,644)
Net realized gains (losses).... 25,972,672 37,168,106 20,349,444 12,999,511
Change in unrealized gains
(losses) on investments...... (27,161,768) (18,663,205) (18,427,737) (11,981,529)
----------------- ---------------- ---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations........... (2,694,801) 17,062,049 731,831 (661,662)
----------------- ---------------- ---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 4,790,556 8,154,795 2,020,273 4,542,847
Net transfers (including fixed
account)..................... (592,274) (9,737,155) 2,205 (3,590,780)
Contract charges............... (3,241,277) (3,279,955) (1,093,814) (1,148,993)
Transfers for contract benefits
and terminations............. (21,872,968) (23,759,563) (8,327,183) (8,098,216)
----------------- ---------------- ---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... (20,915,963) (28,621,878) (7,398,519) (8,295,142)
----------------- ---------------- ---------------- -----------------
Net increase (decrease)
in net assets............. (23,610,764) (11,559,829) (6,666,688) (8,956,804)
NET ASSETS:
Beginning of year.............. 300,649,358 312,209,187 113,155,266 122,112,070
----------------- ---------------- ---------------- -----------------
End of year.................... $ 277,038,594 $ 300,649,358 $ 106,488,578 $ 113,155,266
================= ================ ================ =================
AMERICAN FUNDS GROWTH AMERICAN FUNDS GROWTH-INCOME
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ---------------- ----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (4,888,553) $ (6,935,778) $ 3,542 $ (733,838)
Net realized gains (losses).... 76,420,967 196,247,508 43,226,654 64,791,817
Change in unrealized gains
(losses) on investments...... (17,514,843) (146,627,691) (9,886,897) (63,748,822)
---------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... 54,017,571 42,684,039 33,343,299 309,157
---------------- ---------------- ----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 3,082,401 3,783,989 8,063,591 9,348,694
Net transfers (including fixed
account)..................... (21,988,289) (47,304,037) (3,356,757) (8,758,646)
Contract charges............... (8,107,246) (8,362,747) (3,704,672) (3,640,399)
Transfers for contract benefits
and terminations............. (56,205,378) (57,907,122) (28,813,651) (29,713,943)
---------------- ---------------- ----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... (83,218,512) (109,789,917) (27,811,489) (32,764,294)
---------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets............. (29,200,941) (67,105,878) 5,531,810 (32,455,137)
NET ASSETS:
Beginning of year.............. 754,095,254 821,201,132 358,450,579 390,905,716
---------------- ---------------- ----------------- ----------------
End of year.................... $ 724,894,313 $ 754,095,254 $ 363,982,389 $ 358,450,579
================ ================ ================= ================
BLACKROCK GLOBAL ALLOCATION V.I.
SUB-ACCOUNT
----------------------------------
2016 2015
---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 4,681 $ 4,717
Net realized gains (losses).... (6,529) 82,858
Change in unrealized gains
(losses) on investments...... 64,672 (117,457)
---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... 62,824 (29,882)
---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 597,472 1,505,766
Net transfers (including fixed
account)..................... 387,508 91,370
Contract charges............... (982) (22)
Transfers for contract benefits
and terminations............. (31,654) (8,918)
---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... 952,344 1,588,196
---------------- ----------------
Net increase (decrease)
in net assets............. 1,015,168 1,558,314
NET ASSETS:
Beginning of year.............. 1,566,871 8,557
---------------- ----------------
End of year.................... $ 2,582,039 $ 1,566,871
================ ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
58
The accompanying notes are an integral part of these financial statements.
59
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
DEUTSCHE I CROCI INTERNATIONAL FEDERATED HIGH INCOME BOND
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
----------------- ---------------- ----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ 1,052,010 $ 399,912 $ 1,265 $ 1,118
Net realized gains (losses)..... (793,511) (579,969) (65) (32)
Change in unrealized gains
(losses) on investments....... (391,004) (737,267) 2,081 (2,104)
----------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ (132,505) (917,324) 3,281 (1,018)
----------------- ---------------- ----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 288,372 455,999 -- --
Net transfers (including fixed
account)...................... (360,557) (518,722) -- --
Contract charges................ (1,130) (1,324) -- --
Transfers for contract benefits
and terminations.............. (1,040,468) (1,373,333) (737) (328)
----------------- ---------------- ----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (1,113,783) (1,437,380) (737) (328)
----------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets.............. (1,246,288) (2,354,704) 2,544 (1,346)
NET ASSETS:
Beginning of year............... 12,496,599 14,851,303 25,030 26,376
----------------- ---------------- ----------------- ----------------
End of year..................... $ 11,250,311 $ 12,496,599 $ 27,574 $ 25,030
================= ================ ================= ================
FEDERATED KAUFMAN FIDELITY VIP ASSET MANAGER
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ----------------- ---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (640) $ (694) $ 70,390 $ 142,045
Net realized gains (losses)..... 3,400 7,411 3,033,075 6,355,845
Change in unrealized gains
(losses) on investments....... (1,780) (4,370) (1,946,628) (7,290,851)
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ 980 2,347 1,156,837 (792,961)
---------------- ----------------- ---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... -- -- 1,112,917 1,297,955
Net transfers (including fixed
account)...................... -- -- (1,269,515) (1,397,500)
Contract charges................ -- -- (9,018) (10,137)
Transfers for contract benefits
and terminations.............. (1,349) (1,642) (6,429,011) (7,942,998)
---------------- ----------------- ---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (1,349) (1,642) (6,594,627) (8,052,680)
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets.............. (369) 705 (5,437,790) (8,845,641)
NET ASSETS:
Beginning of year............... 47,958 47,253 76,132,122 84,977,763
---------------- ----------------- ---------------- -----------------
End of year..................... $ 47,589 $ 47,958 $ 70,694,332 $ 76,132,122
================ ================= ================ =================
FIDELITY VIP CONTRAFUND FIDELITY VIP EQUITY-INCOME
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (3,447,540) $ (2,562,222) $ 35,825 $ 92,266
Net realized gains (losses)..... 56,534,065 77,014,113 223,243 492,597
Change in unrealized gains
(losses) on investments....... (18,019,471) (78,548,435) 452,684 (872,283)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 35,067,054 (4,096,544) 711,752 (287,420)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 11,378,837 16,903,242 15,146 6,296
Net transfers (including fixed
account)...................... (9,211,526) (12,721,493) (82,227) (22,066)
Contract charges................ (4,391,890) (4,357,580) -- --
Transfers for contract benefits
and terminations.............. (41,080,267) (45,753,127) (862,529) (414,001)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (43,304,846) (45,928,958) (929,610) (429,771)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. (8,237,792) (50,025,502) (217,858) (717,191)
NET ASSETS:
Beginning of year............... 581,923,231 631,948,733 4,959,137 5,676,328
---------------- ---------------- ---------------- ----------------
End of year..................... $ 573,685,439 $ 581,923,231 $ 4,741,279 $ 4,959,137
================ ================ ================ ================
FIDELITY VIP FUNDSMANAGER 50%
SUB-ACCOUNT
-----------------------------------
2016 2015
----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (33,238,180) $ (29,328,922)
Net realized gains (losses)..... 67,424,887 124,978,786
Change in unrealized gains
(losses) on investments....... 70,790,241 (184,114,448)
----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 104,976,948 (88,464,584)
----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 4,366,399 5,122,409
Net transfers (including fixed
account)...................... 199,882,002 1,098,161,273
Contract charges................ -- --
Transfers for contract benefits
and terminations.............. (224,234,667) (146,575,016)
----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (19,986,266) 956,708,666
----------------- ----------------
Net increase (decrease)
in net assets.............. 84,990,682 868,244,082
NET ASSETS:
Beginning of year............... 4,406,702,675 3,538,458,593
----------------- ----------------
End of year..................... $ 4,491,693,357 $ 4,406,702,675
================= ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
60
The accompanying notes are an integral part of these financial statements.
61
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
FIDELITY VIP
FIDELITY VIP FUNDSMANAGER 60% GOVERNMENT MONEY MARKET
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- ------------------------------------
2016 2015 2016 2015
----------------- ---------------- ----------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (29,113,624) $ (36,299,838) $ (383,062) $ (1,242,699)
Net realized gains (losses)..... 188,329,503 321,264,515 -- --
Change in unrealized gains
(losses) on investments....... (63,123,246) (341,468,121) -- --
----------------- ---------------- ----------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ 96,092,633 (56,503,444) (383,062) (1,242,699)
----------------- ---------------- ----------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 4,334,728 5,739,011 171,061,807 1,101,475,974
Net transfers (including fixed
account)...................... -- -- (199,693,702) (1,099,121,860)
Contract charges................ -- -- (2,003) (2,168)
Transfers for contract benefits
and terminations.............. (615,536,279) (254,963,609) (1,681,832) (2,402,882)
----------------- ---------------- ----------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (611,201,551) (249,224,598) (30,315,730) (50,936)
----------------- ---------------- ----------------- -----------------
Net increase (decrease)
in net assets.............. (515,108,918) (305,728,042) (30,698,792) (1,293,635)
NET ASSETS:
Beginning of year............... 3,688,709,449 3,994,437,491 49,654,013 50,947,648
----------------- ---------------- ----------------- -----------------
End of year..................... $ 3,173,600,531 $ 3,688,709,449 $ 18,955,221 $ 49,654,013
================= ================ ================= =================
FIDELITY VIP GROWTH FIDELITY VIP INDEX 500
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- ----------------------------------
2016 2015 2016 2015
----------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (1,938,297) $ (1,823,562) $ 54,162 $ 383,693
Net realized gains (losses)..... 20,037,429 12,828,947 2,765,773 3,436,622
Change in unrealized gains
(losses) on investments....... (19,372,389) (1,625,997) 3,139,146 (3,771,822)
----------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ (1,273,257) 9,379,388 5,959,081 48,493
----------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 1,848,497 3,026,405 -- --
Net transfers (including fixed
account)...................... (3,710,183) (3,594,229) (1,234,171) (1,524,316)
Contract charges................ (17,387) (19,183) (19,250) (20,878)
Transfers for contract benefits
and terminations.............. (13,243,026) (15,540,392) (5,014,111) (6,445,104)
----------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (15,122,099) (16,127,399) (6,267,532) (7,990,298)
----------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. (16,395,356) (6,748,011) (308,451) (7,941,805)
NET ASSETS:
Beginning of year............... 160,925,919 167,673,930 62,224,177 70,165,982
----------------- ---------------- ---------------- ----------------
End of year..................... $ 144,530,563 $ 160,925,919 $ 61,915,726 $ 62,224,177
================= ================ ================ ================
FIDELITY VIP MID CAP FIDELITY VIP OVERSEAS
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (4,154,096) $ (4,880,547) $ 5,646 $ 2,967
Net realized gains (losses)..... 26,390,295 58,069,876 2,151 62,514
Change in unrealized gains
(losses) on investments....... 17,481,724 (64,627,750) (292,991) 67,570
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 39,717,923 (11,438,421) (285,194) 133,051
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 6,290,246 13,586,880 75,925 85,003
Net transfers (including fixed
account)...................... (4,482,079) (15,198,467) (60,736) (66,066)
Contract charges................ (4,982,252) (5,058,447) (50) (56)
Transfers for contract benefits
and terminations.............. (28,133,233) (26,884,651) (513,669) (478,886)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (31,307,318) (33,554,685) (498,530) (460,005)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. 8,410,605 (44,993,106) (783,724) (326,954)
NET ASSETS:
Beginning of year............... 401,284,587 446,277,693 4,615,792 4,942,746
---------------- ---------------- ---------------- ----------------
End of year..................... $ 409,695,192 $ 401,284,587 $ 3,832,068 $ 4,615,792
================ ================ ================ ================
FTVIPT FRANKLIN INCOME VIP
SUB-ACCOUNT
----------------------------------
2016 2015
---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ 9,120,844 $ 9,124,908
Net realized gains (losses)..... (1,197,852) 215,818
Change in unrealized gains
(losses) on investments....... 21,806,114 (32,921,031)
---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 29,729,106 (23,580,305)
---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 3,516,704 6,188,051
Net transfers (including fixed
account)...................... (1,827,109) 1,880,863
Contract charges................ (2,797,532) (2,771,258)
Transfers for contract benefits
and terminations.............. (21,748,149) (23,325,163)
---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (22,856,086) (18,027,507)
---------------- ----------------
Net increase (decrease)
in net assets.............. 6,873,020 (41,607,812)
NET ASSETS:
Beginning of year............... 253,302,116 294,909,928
---------------- ----------------
End of year..................... $ 260,175,136 $ 253,302,116
================ ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
62
The accompanying notes are an integral part of these financial statements.
63
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
FTVIPT FRANKLIN FTVIPT FRANKLIN
MUTUAL SHARES VIP SMALL CAP VALUE VIP
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
----------------- ---------------- ----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ 762,174 $ 2,328,191 $ (603,981) $ (850,014)
Net realized gains (losses)..... 11,735,942 13,465,264 18,193,022 18,995,244
Change in unrealized gains
(losses) on investments....... 4,805,146 (24,403,194) 11,896,218 (28,752,630)
----------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 17,303,262 (8,609,739) 29,485,259 (10,607,400)
----------------- ---------------- ----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 1,354,399 1,838,448 2,594,857 4,215,265
Net transfers (including fixed
account)...................... 704,098 (3,377,923) (6,026,344) (781,824)
Contract charges................ (1,338,635) (1,367,141) (1,581,543) (1,481,816)
Transfers for contract benefits
and terminations.............. (11,329,519) (13,381,381) (7,199,878) (6,848,145)
----------------- ---------------- ----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (10,609,657) (16,287,997) (12,212,908) (4,896,520)
----------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets.............. 6,693,605 (24,897,736) 17,272,351 (15,503,920)
NET ASSETS:
Beginning of year............... 128,211,487 153,109,223 110,998,636 126,502,556
----------------- ---------------- ----------------- ----------------
End of year..................... $ 134,905,092 $ 128,211,487 $ 128,270,987 $ 110,998,636
================= ================ ================= ================
FTVIPT FTVIPT
TEMPLETON FOREIGN VIP TEMPLETON GLOBAL BOND VIP
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ----------------- ---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ 97,525 $ 1,051,957 $ (2,819,021) $ 15,830,436
Net realized gains (losses)..... 527,103 2,317,086 (3,081,702) (1,172,195)
Change in unrealized gains
(losses) on investments....... 2,954,153 (9,120,445) 8,927,333 (28,472,303)
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ 3,578,781 (5,751,402) 3,026,610 (13,814,062)
---------------- ----------------- ---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 357,216 576,811 3,333,851 6,081,866
Net transfers (including fixed
account)...................... 3,646,293 4,480,127 2,514,265 (1,987,591)
Contract charges................ (858,486) (869,949) (2,766,762) (2,898,185)
Transfers for contract benefits
and terminations.............. (4,221,347) (6,041,062) (14,901,348) (14,898,325)
---------------- ----------------- ---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (1,076,324) (1,854,073) (11,819,994) (13,702,235)
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets.............. 2,502,457 (7,605,475) (8,793,384) (27,516,297)
NET ASSETS:
Beginning of year............... 66,002,305 73,607,780 222,633,715 250,150,012
---------------- ----------------- ---------------- -----------------
End of year..................... $ 68,504,762 $ 66,002,305 $ 213,840,331 $ 222,633,715
================ ================= ================ =================
INVESCO V.I. AMERICAN FRANCHISE INVESCO V.I. CORE EQUITY
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ----------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (182) $ (211) $ (1,071) $ (728)
Net realized gains (losses)..... 1,116 151 15,527 37,852
Change in unrealized gains
(losses) on investments....... (893) 555 (647) (50,167)
---------------- ----------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 41 495 13,809 (13,043)
---------------- ----------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... -- -- -- --
Net transfers (including fixed
account)...................... -- -- 38 (187)
Contract charges................ -- -- -- --
Transfers for contract benefits
and terminations.............. (2,482) (666) (14,006) (47,382)
---------------- ----------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (2,482) (666) (13,968) (47,569)
---------------- ----------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. (2,441) (171) (159) (60,612)
NET ASSETS:
Beginning of year............... 14,936 15,107 171,366 231,978
---------------- ----------------- ---------------- ----------------
End of year..................... $ 12,495 $ 14,936 $ 171,207 $ 171,366
================ ================= ================ ================
INVESCO V.I. EQUITY AND INCOME
SUB-ACCOUNT
----------------------------------
2016 2015
---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ 1,676,980 $ 6,137,924
Net realized gains (losses)..... 26,324,788 69,239,795
Change in unrealized gains
(losses) on investments....... 49,249,179 (101,201,542)
---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 77,250,947 (25,823,823)
---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 16,956,615 23,895,518
Net transfers (including fixed
account)...................... (5,664,468) (2,573,368)
Contract charges................ (7,077,278) (6,909,703)
Transfers for contract benefits
and terminations.............. (46,507,739) (50,488,085)
---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (42,292,870) (36,075,638)
---------------- ----------------
Net increase (decrease)
in net assets.............. 34,958,077 (61,899,461)
NET ASSETS:
Beginning of year............... 619,311,840 681,211,301
---------------- ----------------
End of year..................... $ 654,269,917 $ 619,311,840
================ ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
64
The accompanying notes are an integral part of these financial statements.
65
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
INVESCO V.I. GROWTH AND INCOME INVESCO V.I. INTERNATIONAL GROWTH
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
----------------- ---------------- ---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (22) $ 107 $ (463,656) $ (203,655)
Net realized gains (losses)..... 639 1,081 2,563,228 3,594,236
Change in unrealized gains
(losses) on investments....... (349) (1,491) (7,183,922) (13,655,170)
----------------- ---------------- ---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ 268 (303) (5,084,350) (10,264,589)
----------------- ---------------- ---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 990 -- 3,607,230 5,828,134
Net transfers (including fixed
account)...................... (3,917) 271 7,408,564 3,468,834
Contract charges................ (358) (386) (3,200,081) (3,276,594)
Transfers for contract benefits
and terminations.............. (2,475) -- (15,272,513) (15,245,977)
----------------- ---------------- ---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (5,760) (115) (7,456,800) (9,225,603)
----------------- ---------------- ---------------- -----------------
Net increase (decrease)
in net assets.............. (5,492) (418) (12,541,150) (19,490,192)
NET ASSETS:
Beginning of year............... 6,509 6,927 256,390,780 275,880,972
----------------- ---------------- ---------------- -----------------
End of year..................... $ 1,017 $ 6,509 $ 243,849,630 $ 256,390,780
================= ================ ================ =================
LMPVET CLEARBRIDGE
IVY VIP ASSET STRATEGY VARIABLE AGGRESSIVE GROWTH
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ----------------- ----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (2,092) $ (1,770) $ (2,167,911) $ (3,355,443)
Net realized gains (losses)..... (29,559) 31,853 20,190,034 41,012,225
Change in unrealized gains
(losses) on investments....... 19,774 (59,235) (18,916,437) (47,157,658)
---------------- ----------------- ----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ (11,877) (29,152) (894,314) (9,500,876)
---------------- ----------------- ----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 49,073 232,557 12,769,827 18,529,707
Net transfers (including fixed
account)...................... (42,838) 74,337 6,572,083 4,621,482
Contract charges................ (16) (1) (3,214,606) (3,138,770)
Transfers for contract benefits
and terminations.............. (78,861) (5,064) (22,574,903) (26,081,942)
---------------- ----------------- ----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (72,642) 301,829 (6,447,599) (6,069,523)
---------------- ----------------- ----------------- ----------------
Net increase (decrease)
in net assets.............. (84,519) 272,677 (7,341,913) (15,570,399)
NET ASSETS:
Beginning of year............... 317,700 45,023 300,878,534 316,448,933
---------------- ----------------- ----------------- ----------------
End of year..................... $ 233,181 $ 317,700 $ 293,536,621 $ 300,878,534
================ ================= ================= ================
LMPVET CLEARBRIDGE LMPVET CLEARBRIDGE
VARIABLE APPRECIATION VARIABLE DIVIDEND STRATEGY
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
----------------- ---------------- ---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (285,310) $ (889,265) $ 99,724 $ 520,496
Net realized gains (losses)..... 18,709,188 21,134,497 4,502,131 3,696,314
Change in unrealized gains
(losses) on investments....... 12,788,762 (19,592,266) 19,079,369 (15,985,006)
----------------- ---------------- ---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ 31,212,640 652,966 23,681,224 (11,768,196)
----------------- ---------------- ---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 13,233,628 16,816,788 6,793,180 8,055,708
Net transfers (including fixed
account)...................... (6,775,239) (10,726,406) (600,819) 984,487
Contract charges................ (4,841,666) (4,654,271) (2,314,431) (2,144,487)
Transfers for contract benefits
and terminations.............. (27,170,816) (28,285,511) (13,256,121) (14,278,679)
----------------- ---------------- ---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (25,554,093) (26,849,400) (9,378,191) (7,382,971)
----------------- ---------------- ---------------- -----------------
Net increase (decrease)
in net assets.............. 5,658,547 (26,196,434) 14,303,033 (19,151,167)
NET ASSETS:
Beginning of year............... 400,323,007 426,519,441 186,422,315 205,573,482
----------------- ---------------- ---------------- -----------------
End of year..................... $ 405,981,554 $ 400,323,007 $ 200,725,348 $ 186,422,315
================= ================ ================ =================
LMPVET CLEARBRIDGE
VARIABLE LARGE CAP GROWTH
SUB-ACCOUNT
-----------------------------------
2016 2015
---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (43,931) $ (57,633)
Net realized gains (losses)..... 379,954 767,463
Change in unrealized gains
(losses) on investments....... (188,699) (376,334)
---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ 147,324 333,496
---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 360 17,666
Net transfers (including fixed
account)...................... (243,618) (373,004)
Contract charges................ (13,427) (14,880)
Transfers for contract benefits
and terminations.............. (605,126) (707,021)
---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (861,811) (1,077,239)
---------------- -----------------
Net increase (decrease)
in net assets.............. (714,487) (743,743)
NET ASSETS:
Beginning of year............... 3,887,858 4,631,601
---------------- -----------------
End of year..................... $ 3,173,371 $ 3,887,858
================ =================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
66
The accompanying notes are an integral part of these financial statements.
67
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
LMPVET CLEARBRIDGE LMPVET CLEARBRIDGE
VARIABLE LARGE CAP VALUE VARIABLE SMALL CAP GROWTH
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (10,471) $ (28,812) $ (1,367,176) $ (1,536,289)
Net realized gains (losses).... 253,744 558,819 5,281,882 4,745,658
Change in unrealized gains
(losses) on investments...... 594,251 (911,526) 637,725 (9,601,052)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 837,524 (381,519) 4,552,431 (6,391,683)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 159,294 281,091 4,335,272 5,532,165
Net transfers (including fixed
account)..................... 915,334 7,723 (154,058) (5,112,272)
Contract charges............... (85,407) (84,738) (1,244,198) (1,292,699)
Transfers for contract benefits
and terminations............. (753,495) (1,048,413) (6,274,238) (7,082,395)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 235,726 (844,337) (3,337,222) (7,955,201)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. 1,073,250 (1,225,856) 1,215,209 (14,346,884)
NET ASSETS:
Beginning of year.............. 7,518,321 8,744,177 101,595,917 115,942,801
---------------- ---------------- ---------------- ----------------
End of year.................... $ 8,591,571 $ 7,518,321 $ 102,811,126 $ 101,595,917
================ ================ ================ ================
LMPVET ENTRUST PERMAL LMPVET QS
ALTERNATIVE SELECT VIT VARIABLE CONSERVATIVE GROWTH
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (152,721) $ 7,753 $ 401,086 $ 242,251
Net realized gains (losses).... (79,247) 80,328 439,055 942,532
Change in unrealized gains
(losses) on investments...... (159,883) (765,231) 1,355,038 (2,209,185)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ (391,851) (677,150) 2,195,179 (1,024,402)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 2,840,979 8,874,963 449,435 1,035,737
Net transfers (including fixed
account)..................... 1,159,704 1,570,693 1,119,642 (446,803)
Contract charges............... (2,243) (117) (473,039) (480,958)
Transfers for contract benefits
and terminations............. (824,579) (215,662) (2,695,104) (3,179,272)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 3,173,861 10,229,877 (1,599,066) (3,071,296)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. 2,782,010 9,552,727 596,113 (4,095,698)
NET ASSETS:
Beginning of year.............. 10,193,761 641,034 38,239,774 42,335,472
---------------- ---------------- ---------------- ----------------
End of year.................... $ 12,975,771 $ 10,193,761 $ 38,835,887 $ 38,239,774
================ ================ ================ ================
LMPVET QS LMPVET QS
VARIABLE GROWTH VARIABLE MODERATE GROWTH
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 64,340 $ (32,392) $ 2,164 $ (2,671)
Net realized gains (losses).... 3,988,123 11,860,631 105,411 148,483
Change in unrealized gains
(losses) on investments...... 1,529,479 (14,921,753) (54,300) (187,401)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 5,581,942 (3,093,514) 53,275 (41,589)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 874,902 1,743,349 49,844 250
Net transfers (including fixed
account)..................... 1,003,629 (333,878) (4,788) 7,338
Contract charges............... (943,812) (934,408) (469) (578)
Transfers for contract benefits
and terminations............. (6,334,763) (6,500,454) (454,192) (611,851)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (5,400,044) (6,025,391) (409,605) (604,841)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. 181,898 (9,118,905) (356,330) (646,430)
NET ASSETS:
Beginning of year.............. 83,641,315 92,760,220 1,277,408 1,923,838
---------------- ---------------- ---------------- ----------------
End of year.................... $ 83,823,213 $ 83,641,315 $ 921,078 $ 1,277,408
================ ================ ================ ================
LMPVIT WESTERN ASSET
VARIABLE GLOBAL HIGH YIELD BOND
SUB-ACCOUNT
----------------------------------
2016 2015
---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 4,075,107 $ 4,385,322
Net realized gains (losses).... (1,878,440) (1,035,530)
Change in unrealized gains
(losses) on investments...... 9,237,046 (10,052,056)
---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 11,433,713 (6,702,264)
---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 1,324,881 2,032,189
Net transfers (including fixed
account)..................... (2,102,281) 1,146,826
Contract charges............... (959,444) (935,203)
Transfers for contract benefits
and terminations............. (8,407,408) (9,541,753)
---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (10,144,252) (7,297,941)
---------------- ----------------
Net increase (decrease)
in net assets.............. 1,289,461 (14,000,205)
NET ASSETS:
Beginning of year.............. 86,641,483 100,641,688
---------------- ----------------
End of year.................... $ 87,930,944 $ 86,641,483
================ ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
68
The accompanying notes are an integral part of these financial statements.
69
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
MFS VIT INVESTORS TRUST MFS VIT NEW DISCOVERY
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ----------------- ---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (45) $ (44) $ (543) $ (583)
Net realized gains (losses).... 1,121 1,258 1,815 1,340
Change in unrealized gains
(losses) on investments...... (484) (1,317) 1,685 (2,076)
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations........... 592 (103) 2,957 (1,319)
---------------- ----------------- ---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... -- -- -- --
Net transfers (including fixed
account)..................... -- -- -- --
Contract charges............... -- -- -- --
Transfers for contract benefits
and terminations............. (640) (641) (1,011) --
---------------- ----------------- ---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... (640) (641) (1,011) --
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets............. (48) (744) 1,946 (1,319)
NET ASSETS:
Beginning of year.............. 8,875 9,619 39,288 40,607
---------------- ----------------- ---------------- -----------------
End of year.................... $ 8,827 $ 8,875 $ 41,234 $ 39,288
================ ================= ================ =================
MIST AB
MFS VIT RESEARCH GLOBAL DYNAMIC ALLOCATION
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ----------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (131) $ (175) $ 5,973,861 $ 62,557,398
Net realized gains (losses).... 3,861 2,246 51,718,394 145,593,523
Change in unrealized gains
(losses) on investments...... (2,546) (2,225) 9,838,368 (234,232,346)
---------------- ----------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... 1,184 (154) 67,530,623 (26,081,425)
---------------- ----------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... -- -- 91,389,346 88,836,606
Net transfers (including fixed
account)..................... -- -- (13,114,222) (30,105,880)
Contract charges............... -- -- (52,207,471) (50,699,748)
Transfers for contract benefits
and terminations............. (5,787) (206) (155,091,820) (150,068,994)
---------------- ----------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... (5,787) (206) (129,024,167) (142,038,016)
---------------- ----------------- ---------------- ----------------
Net increase (decrease)
in net assets............. (4,603) (360) (61,493,544) (168,119,441)
NET ASSETS:
Beginning of year.............. 26,211 26,571 3,205,371,897 3,373,491,338
---------------- ----------------- ---------------- ----------------
End of year.................... $ 21,608 $ 26,211 $ 3,143,878,353 $ 3,205,371,897
================ ================= ================ ================
MIST ALLIANZ GLOBAL MIST AMERICAN FUNDS
INVESTORS DYNAMIC MULTI-ASSET PLUS BALANCED ALLOCATION
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
----------------- ---------------- ----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (969,724) $ 103,026 $ 2,921,701 $ (4,482,300)
Net realized gains (losses).... (35,898) 80,869 275,771,097 215,019,789
Change in unrealized gains
(losses) on investments...... 1,607,504 (2,070,984) (91,485,327) (279,267,105)
----------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... 601,882 (1,887,089) 187,207,471 (68,729,616)
----------------- ---------------- ----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 16,857,944 21,268,070 75,145,456 46,401,519
Net transfers (including fixed
account)..................... 8,788,221 24,102,547 17,486,675 (16,326,577)
Contract charges............... (1,007,330) (433,447) (41,225,539) (41,218,470)
Transfers for contract benefits
and terminations............. (3,883,641) (1,169,475) (203,968,674) (220,038,847)
----------------- ---------------- ----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... 20,755,194 43,767,695 (152,562,082) (231,182,375)
----------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets............. 21,357,076 41,880,606 34,645,389 (299,911,991)
NET ASSETS:
Beginning of year.............. 60,867,062 18,986,456 3,117,922,583 3,417,834,574
----------------- ---------------- ----------------- ----------------
End of year.................... $ 82,224,138 $ 60,867,062 $ 3,152,567,972 $ 3,117,922,583
================= ================ ================= ================
MIST AMERICAN FUNDS
GROWTH ALLOCATION
SUB-ACCOUNT
-----------------------------------
2016 2015
----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (4,425,844) $ (4,545,361)
Net realized gains (losses).... 184,760,628 138,651,523
Change in unrealized gains
(losses) on investments...... (60,183,857) (173,607,348)
----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... 120,150,927 (39,501,186)
----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 14,790,852 15,507,428
Net transfers (including fixed
account)..................... (7,001,718) 39,796,000
Contract charges............... (22,193,183) (21,662,684)
Transfers for contract benefits
and terminations............. (101,195,265) (105,961,009)
----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... (115,599,314) (72,320,265)
----------------- ----------------
Net increase (decrease)
in net assets............. 4,551,613 (111,821,451)
NET ASSETS:
Beginning of year.............. 1,740,439,216 1,852,260,667
----------------- ----------------
End of year.................... $ 1,744,990,829 $ 1,740,439,216
================= ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
70
The accompanying notes are an integral part of these financial statements.
71
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
MIST AMERICAN FUNDS
MIST AMERICAN FUNDS GROWTH MODERATE ALLOCATION
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (7,607,989) $ (4,210,525) $ 6,245,320 $ (742,833)
Net realized gains (losses).... 167,126,272 77,901,351 107,146,104 91,723,600
Change in unrealized gains
(losses) on investments...... (113,400,426) (42,270,399) (30,620,445) (125,905,095)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... 46,117,857 31,420,427 82,770,979 (34,924,328)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 15,004,069 19,736,314 37,516,663 24,909,931
Net transfers (including fixed
account)..................... (2,350,119) (12,600,811) 32,849,220 (20,846,417)
Contract charges............... (7,912,275) (7,636,584) (21,143,513) (21,032,171)
Transfers for contract benefits
and terminations............. (37,390,190) (38,877,732) (109,118,456) (124,685,275)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... (32,648,515) (39,378,813) (59,896,086) (141,653,932)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets............. 13,469,342 (7,958,386) 22,874,893 (176,578,260)
NET ASSETS:
Beginning of year.............. 640,713,098 648,671,484 1,567,578,863 1,744,157,123
---------------- ---------------- ---------------- ----------------
End of year.................... $ 654,182,440 $ 640,713,098 $ 1,590,453,756 $ 1,567,578,863
================ ================ ================ ================
MIST BLACKROCK
MIST AQR GLOBAL RISK BALANCED GLOBAL TACTICAL STRATEGIES
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ----------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (34,268,735) $ 115,377,395 $ 2,654,460 $ 7,123,089
Net realized gains (losses).... (47,850,610) 251,089,847 416,909,101 243,465,110
Change in unrealized gains
(losses) on investments...... 257,505,457 (667,747,163) (270,413,192) (328,370,852)
---------------- ----------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... 175,386,112 (301,279,921) 149,150,369 (77,782,653)
---------------- ----------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 18,022,447 28,201,013 115,567,257 134,048,740
Net transfers (including fixed
account)..................... (61,831,482) (121,209,615) (57,324,406) (31,355,267)
Contract charges............... (41,914,869) (43,556,032) (82,433,198) (81,264,355)
Transfers for contract benefits
and terminations............. (125,669,688) (131,915,961) (253,893,832) (239,100,989)
---------------- ----------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... (211,393,592) (268,480,595) (278,084,179) (217,671,871)
---------------- ----------------- ---------------- ----------------
Net increase (decrease)
in net assets............. (36,007,480) (569,760,516) (128,933,810) (295,454,524)
NET ASSETS:
Beginning of year.............. 2,431,541,679 3,001,302,195 5,128,182,508 5,423,637,032
---------------- ----------------- ---------------- ----------------
End of year.................... $ 2,395,534,199 $ 2,431,541,679 $ 4,999,248,698 $ 5,128,182,508
================ ================= ================ ================
MIST BLACKROCK HIGH YIELD MIST CLARION GLOBAL REAL ESTATE
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- ----------------------------------
2016 2015 2016 2015
----------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 11,580,248 $ 15,488,328 $ 1,523,432 $ 7,184,764
Net realized gains (losses).... (3,986,750) (855,525) 1,382,227 2,505,984
Change in unrealized gains
(losses) on investments...... 18,199,885 (27,072,455) (4,178,951) (18,548,113)
----------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... 25,793,383 (12,439,652) (1,273,292) (8,857,365)
----------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 3,939,058 5,471,471 3,372,054 6,581,398
Net transfers (including fixed
account)..................... 8,925,766 (735,390) (2,622,191) (10,655,221)
Contract charges............... (2,708,304) (2,632,432) (3,088,944) (3,206,471)
Transfers for contract benefits
and terminations............. (14,990,899) (16,959,483) (21,750,625) (25,491,389)
----------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... (4,834,379) (14,855,834) (24,089,706) (32,771,683)
----------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets............. 20,959,004 (27,295,486) (25,362,998) (41,629,048)
NET ASSETS:
Beginning of year.............. 210,920,401 238,215,887 288,549,595 330,178,643
----------------- ---------------- ---------------- ----------------
End of year.................... $ 231,879,405 $ 210,920,401 $ 263,186,597 $ 288,549,595
================= ================ ================ ================
MIST CLEARBRIDGE
AGGRESSIVE GROWTH
SUB-ACCOUNT
----------------------------------
2016 2015
---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (5,588,236) $ (7,967,160)
Net realized gains (losses).... 22,877,688 32,724,227
Change in unrealized gains
(losses) on investments...... (14,020,970) (55,137,738)
---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... 3,268,482 (30,380,671)
---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 3,397,099 7,906,450
Net transfers (including fixed
account)..................... (19,419,615) 76,581
Contract charges............... (5,138,876) (5,848,656)
Transfers for contract benefits
and terminations............. (33,772,189) (44,740,100)
---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... (54,933,581) (42,605,725)
---------------- ----------------
Net increase (decrease)
in net assets............. (51,665,099) (72,986,396)
NET ASSETS:
Beginning of year.............. 513,586,109 586,572,505
---------------- ----------------
End of year.................... $ 461,921,010 $ 513,586,109
================ ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
72
The accompanying notes are an integral part of these financial statements.
73
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
MIST MIST
GOLDMAN SACHS MID CAP VALUE HARRIS OAKMARK INTERNATIONAL
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (1,014,625) $ (1,537,088) $ 3,149,253 $ 9,400,785
Net realized gains (losses).... 6,324,523 41,886,183 26,318,341 65,880,374
Change in unrealized gains
(losses) on investments...... 9,272,110 (57,110,020) 6,566,866 (112,473,465)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 14,582,008 (16,760,925) 36,034,460 (37,192,306)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 919,911 1,725,815 6,425,156 10,330,585
Net transfers (including fixed
account)..................... (6,678,370) (6,624,559) (17,956,920) 16,006,472
Contract charges............... (1,261,981) (1,388,967) (6,093,836) (6,520,686)
Transfers for contract benefits
and terminations............. (10,641,399) (16,267,720) (37,856,237) (50,590,499)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (17,661,839) (22,555,431) (55,481,837) (30,774,128)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. (3,079,831) (39,316,356) (19,447,377) (67,966,434)
NET ASSETS:
Beginning of year.............. 139,196,313 178,512,669 595,542,818 663,509,252
---------------- ---------------- ---------------- ----------------
End of year.................... $ 136,116,482 $ 139,196,313 $ 576,095,441 $ 595,542,818
================ ================ ================ ================
MIST
INVESCO BALANCED-RISK ALLOCATION MIST INVESCO COMSTOCK
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (10,301,625) $ 11,979,804 $ 7,486,419 $ 11,114,213
Net realized gains (losses).... (2,513,753) 56,997,141 63,625,214 41,574,493
Change in unrealized gains
(losses) on investments...... 91,035,525 (115,525,978) 32,001,192 (109,029,930)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 78,220,147 (46,549,033) 103,112,825 (56,341,224)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 50,176,000 56,430,784 10,601,201 17,077,620
Net transfers (including fixed
account)..................... 89,247,502 (17,727,649) (12,378,231) (9,876,271)
Contract charges............... (13,936,272) (12,556,466) (8,170,800) (8,381,443)
Transfers for contract benefits
and terminations............. (40,178,930) (34,902,367) (50,036,257) (56,194,121)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 85,308,300 (8,755,698) (59,984,087) (57,374,215)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. 163,528,447 (55,304,731) 43,128,738 (113,715,439)
NET ASSETS:
Beginning of year.............. 777,069,714 832,374,445 699,284,637 813,000,076
---------------- ---------------- ---------------- ----------------
End of year.................... $ 940,598,161 $ 777,069,714 $ 742,413,375 $ 699,284,637
================ ================ ================ ================
MIST INVESCO MID CAP VALUE MIST INVESCO SMALL CAP GROWTH
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (2,197,834) $ (2,735,590) $ (4,386,925) $ (4,819,029)
Net realized gains (losses).... 13,095,340 15,336,973 49,880,127 83,195,090
Change in unrealized gains
(losses) on investments...... 22,991,597 (40,654,275) (18,425,902) (87,413,658)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 33,889,103 (28,052,892) 27,067,300 (9,037,597)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 6,933,353 8,288,062 5,647,259 6,534,317
Net transfers (including fixed
account)..................... 1,237,691 24,500,627 (6,176,045) 14,266,774
Contract charges............... (3,157,009) (3,034,527) (2,926,164) (2,932,490)
Transfers for contract benefits
and terminations............. (14,253,523) (15,827,029) (19,107,037) (25,585,352)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (9,239,488) 13,927,133 (22,561,987) (7,716,751)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. 24,649,615 (14,125,759) 4,505,313 (16,754,348)
NET ASSETS:
Beginning of year.............. 244,281,850 258,407,609 291,887,925 308,642,273
---------------- ---------------- ---------------- ----------------
End of year.................... $ 268,931,465 $ 244,281,850 $ 296,393,238 $ 291,887,925
================ ================ ================ ================
MIST JPMORGAN CORE BOND
SUB-ACCOUNT
----------------------------------
2016 2015
---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 4,214,903 $ 2,801,534
Net realized gains (losses).... (155,743) (395,625)
Change in unrealized gains
(losses) on investments...... (2,012,185) (6,145,255)
---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 2,046,975 (3,739,346)
---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 3,488,610 3,649,306
Net transfers (including fixed
account)..................... 19,870,012 13,754,017
Contract charges............... (4,561,818) (4,484,730)
Transfers for contract benefits
and terminations............. (22,381,738) (23,734,420)
---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (3,584,934) (10,815,827)
---------------- ----------------
Net increase (decrease)
in net assets.............. (1,537,959) (14,555,173)
NET ASSETS:
Beginning of year.............. 340,682,787 355,237,960
---------------- ----------------
End of year.................... $ 339,144,828 $ 340,682,787
================ ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
74
The accompanying notes are an integral part of these financial statements.
75
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
MIST
JPMORGAN GLOBAL ACTIVE ALLOCATION MIST JPMORGAN SMALL CAP VALUE
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ---------------- ----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 7,722,055 $ 12,497,303 $ 27,357 $ (98,903)
Net realized gains (losses).... 17,866,051 45,696,444 1,990,651 2,956,831
Change in unrealized gains
(losses) on investments...... (9,890,380) (65,128,206) 4,123,036 (5,123,070)
---------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... 15,697,726 (6,934,459) 6,141,044 (2,265,142)
---------------- ---------------- ----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 75,632,639 77,822,224 377,114 621,500
Net transfers (including fixed
account)..................... 12,735,511 76,566,196 (1,284,706) (1,438,278)
Contract charges............... (16,205,205) (13,964,421) (300,537) (305,249)
Transfers for contract benefits
and terminations............. (46,438,860) (38,679,798) (1,690,161) (1,411,453)
---------------- ---------------- ----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... 25,724,085 101,744,201 (2,898,290) (2,533,480)
---------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets............. 41,421,811 94,809,742 3,242,754 (4,798,622)
NET ASSETS:
Beginning of year.............. 1,000,785,200 905,975,458 23,133,878 27,932,500
---------------- ---------------- ----------------- ----------------
End of year.................... $ 1,042,207,011 $ 1,000,785,200 $ 26,376,632 $ 23,133,878
================ ================ ================= ================
MIST MET/ABERDEEN
MIST LOOMIS SAYLES GLOBAL MARKETS EMERGING MARKETS EQUITY
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ----------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 182,134 $ 56,919 $ (2,095,800) $ 1,070,164
Net realized gains (losses).... 9,600,422 5,682,307 (3,800,343) (1,548,189)
Change in unrealized gains
(losses) on investments...... (5,021,627) (5,830,670) 42,924,968 (63,266,929)
---------------- ----------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... 4,760,929 (91,444) 37,028,825 (63,744,954)
---------------- ----------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 1,629,123 1,604,265 4,919,847 5,760,880
Net transfers (including fixed
account)..................... (7,028,228) (3,286,915) (10,048,590) 27,512,370
Contract charges............... (1,788,348) (1,847,018) (4,895,870) (4,761,010)
Transfers for contract benefits
and terminations............. (10,360,270) (12,330,707) (21,935,749) (25,219,474)
---------------- ----------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... (17,547,723) (15,860,375) (31,960,362) 3,292,766
---------------- ----------------- ---------------- ----------------
Net increase (decrease)
in net assets............. (12,786,794) (15,951,819) 5,068,463 (60,452,188)
NET ASSETS:
Beginning of year.............. 161,399,211 177,351,030 365,167,198 425,619,386
---------------- ----------------- ---------------- ----------------
End of year.................... $ 148,612,417 $ 161,399,211 $ 370,235,661 $ 365,167,198
================ ================= ================ ================
MIST
MIST MET/ARTISAN INTERNATIONAL MET/EATON VANCE FLOATING RATE
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 (a) 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (497) $ (369) $ 1,532,327 $ 1,437,029
Net realized gains (losses).... (407) (764) (526,227) (376,676)
Change in unrealized gains
(losses) on investments...... (17,443) (3,854) 3,593,742 (2,605,647)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... (18,347) (4,987) 4,599,842 (1,545,294)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 134,986 113,826 1,034,528 1,581,532
Net transfers (including fixed
account)..................... 3,749 20,716 1,584,549 (1,657,616)
Contract charges............... (34) -- (623,176) (665,463)
Transfers for contract benefits
and terminations............. (7,823) (8,396) (5,796,986) (7,593,451)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... 130,878 126,146 (3,801,085) (8,334,998)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets............. 112,531 121,159 798,757 (9,880,292)
NET ASSETS:
Beginning of year.............. 121,159 -- 64,028,918 73,909,210
---------------- ---------------- ---------------- ----------------
End of year.................... $ 233,690 $ 121,159 $ 64,827,675 $ 64,028,918
================ ================ ================ ================
MIST MET/FRANKLIN
LOW DURATION TOTAL RETURN
SUB-ACCOUNT
----------------------------------
2016 2015
---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 2,005,297 $ 2,577,678
Net realized gains (losses).... (1,131,686) (701,699)
Change in unrealized gains
(losses) on investments...... 1,355,961 (5,428,085)
---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations........... 2,229,572 (3,552,106)
---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 1,614,780 5,599,233
Net transfers (including fixed
account)..................... (2,839,999) 4,590
Contract charges............... (1,945,246) (2,052,441)
Transfers for contract benefits
and terminations............. (12,067,365) (15,141,099)
---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions..... (15,237,830) (11,589,717)
---------------- ----------------
Net increase (decrease)
in net assets............. (13,008,258) (15,141,823)
NET ASSETS:
Beginning of year.............. 157,983,094 173,124,917
---------------- ----------------
End of year.................... $ 144,974,836 $ 157,983,094
================ ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
76
The accompanying notes are an integral part of these financial statements.
77
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
MIST MIST MET/WELLINGTON
MET/TEMPLETON INTERNATIONAL BOND LARGE CAP RESEARCH
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ----------------- ---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (595,099) $ 3,038,946 $ 87,871 $ (152,730)
Net realized gains (losses)..... (1,008,231) (460,924) 1,505,098 2,189,696
Change in unrealized gains
(losses) on investments....... 1,285,705 (5,136,661) (634,599) (1,564,663)
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ (317,625) (2,558,639) 958,370 472,303
---------------- ----------------- ---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 351,551 1,008,123 238,593 369,764
Net transfers (including fixed
account)...................... (27,849) 43,895 (265,280) (990,704)
Contract charges................ (574,332) (616,606) (205,310) (209,942)
Transfers for contract benefits
and terminations.............. (2,287,396) (2,711,377) (1,041,933) (1,284,833)
---------------- ----------------- ---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (2,538,026) (2,275,965) (1,273,930) (2,115,715)
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets.............. (2,855,651) (4,834,604) (315,560) (1,643,412)
NET ASSETS:
Beginning of year............... 42,349,271 47,183,875 15,616,983 17,260,395
---------------- ----------------- ---------------- -----------------
End of year..................... $ 39,493,620 $ 42,349,271 $ 15,301,423 $ 15,616,983
================ ================= ================ =================
MIST METLIFE ASSET ALLOCATION 100 MIST METLIFE BALANCED PLUS
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ----------------- ---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ 3,646,362 $ (2,016,259) $ 99,157,622 $ 49,287,588
Net realized gains (losses)..... 77,714,514 61,106,802 83,546,261 446,515,766
Change in unrealized gains
(losses) on investments....... (42,750,032) (79,692,789) 262,223,058 (884,673,039)
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ 38,610,844 (20,602,246) 444,926,941 (388,869,685)
---------------- ----------------- ---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 4,336,940 5,354,211 157,046,169 208,140,346
Net transfers (including fixed
account)...................... (19,949,139) (6,689,447) 111,182,918 (4,605,195)
Contract charges................ (4,987,628) (5,117,777) (107,705,162) (103,967,586)
Transfers for contract benefits
and terminations.............. (36,048,067) (38,701,487) (343,550,385) (315,728,010)
---------------- ----------------- ---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (56,647,894) (45,154,500) (183,026,460) (216,160,445)
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets.............. (18,037,050) (65,756,746) 261,900,481 (605,030,130)
NET ASSETS:
Beginning of year............... 575,818,048 641,574,794 6,663,424,002 7,268,454,132
---------------- ----------------- ---------------- -----------------
End of year..................... $ 557,780,998 $ 575,818,048 $ 6,925,324,483 $ 6,663,424,002
================ ================= ================ =================
MIST
METLIFE MULTI-INDEX TARGETED RISK MIST METLIFE SMALL CAP VALUE
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ----------------- ---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (371,686) $ (1,034,215) $ (1,309,213) $ (4,039,297)
Net realized gains (losses)..... 284,022 14,297,878 5,062,414 102,531,369
Change in unrealized gains
(losses) on investments....... 23,166,215 (32,052,767) 59,471,093 (116,797,548)
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ 23,078,551 (18,789,104) 63,224,294 (18,305,476)
---------------- ----------------- ---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 146,003,566 110,393,305 1,349,329 1,334,115
Net transfers (including fixed
account)...................... 85,670,437 151,542,191 (11,765,305) (10,754,879)
Contract charges................ (11,135,104) (7,735,258) (1,989,354) (2,014,570)
Transfers for contract benefits
and terminations.............. (29,873,770) (23,093,748) (20,501,444) (24,985,104)
---------------- ----------------- ---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 190,665,129 231,106,490 (32,906,774) (36,420,438)
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets.............. 213,743,680 212,317,386 30,317,520 (54,725,914)
NET ASSETS:
Beginning of year............... 633,831,341 421,513,955 236,287,986 291,013,900
---------------- ----------------- ---------------- -----------------
End of year..................... $ 847,575,021 $ 633,831,341 $ 266,605,506 $ 236,287,986
================ ================= ================ =================
MIST MFS RESEARCH INTERNATIONAL
SUB-ACCOUNT
----------------------------------
2016 2015
---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ 1,087,152 $ 3,284,984
Net realized gains (losses)..... (1,908,775) 894,053
Change in unrealized gains
(losses) on investments....... (5,640,472) (12,677,983)
---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ (6,462,095) (8,498,946)
---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 2,345,413 4,293,533
Net transfers (including fixed
account)...................... 1,343,494 12,947,453
Contract charges................ (2,432,236) (2,475,924)
Transfers for contract benefits
and terminations.............. (18,900,434) (22,193,367)
---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (17,643,763) (7,428,305)
---------------- ----------------
Net increase (decrease)
in net assets.............. (24,105,858) (15,927,251)
NET ASSETS:
Beginning of year............... 271,985,758 287,913,009
---------------- ----------------
End of year..................... $ 247,879,900 $ 271,985,758
================ ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
78
The accompanying notes are an integral part of these financial statements.
79
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
MIST
MORGAN STANLEY MID CAP GROWTH MIST OPPENHEIMER GLOBAL EQUITY
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ---------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ---------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (2,927,589) $ (3,327,105) $ (294,846) $ (305,773)
Net realized gains (losses).... 2,940,257 4,570,410 3,506,252 3,512,456
Change in unrealized gains
(losses) on investments...... (20,657,747) (15,910,469) (4,061,196) (1,038,937)
---------------- ---------------- ---------------- ---------------
Net increase (decrease)
in net assets resulting
from operations............ (20,645,079) (14,667,164) (849,790) 2,167,746
---------------- ---------------- ---------------- ---------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 5,154,126 8,883,221 796,758 1,219,267
Net transfers (including fixed
account)..................... 10,765,513 1,774,364 1,559,887 (2,158,048)
Contract charges............... (2,683,209) (2,819,561) (535,014) (574,746)
Transfers for contract benefits
and terminations............. (11,898,645) (13,239,136) (6,477,083) (7,738,730)
---------------- ---------------- ---------------- ---------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 1,337,785 (5,401,112) (4,655,452) (9,252,257)
---------------- ---------------- ---------------- ---------------
Net increase (decrease)
in net assets.............. (19,307,294) (20,068,276) (5,505,242) (7,084,511)
NET ASSETS:
Beginning of year.............. 220,460,412 240,528,688 65,266,488 72,350,999
---------------- ---------------- ---------------- ---------------
End of year.................... $ 201,153,118 $ 220,460,412 $ 59,761,246 $ 65,266,488
================ ================ ================ ===============
MIST MIST PIMCO
PANAGORA GLOBAL DIVERSIFIED RISK INFLATION PROTECTED BOND
SUB-ACCOUNT SUB-ACCOUNT
--------------------------------- ----------------------------------
2016 2015 2016 2015
--------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 978,295 $ (132,986) $ (9,898,158) $ 23,465,868
Net realized gains (losses).... 1,816,019 59,506 (10,740,646) (12,024,645)
Change in unrealized gains
(losses) on investments...... (2,298,273) (1,391,238) 40,944,062 (43,226,004)
--------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 496,041 (1,464,718) 20,305,258 (31,784,781)
--------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 21,255,721 7,308,625 3,240,908 4,037,726
Net transfers (including fixed
account)..................... 63,435,064 5,964,473 17,081,530 (8,720,486)
Contract charges............... (700,033) (168,361) (7,965,099) (8,087,358)
Transfers for contract benefits
and terminations............. (2,852,672) (677,893) (44,800,654) (53,138,748)
--------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 81,138,080 12,426,844 (32,443,315) (65,908,866)
--------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. 81,634,121 10,962,126 (12,138,057) (97,693,647)
NET ASSETS:
Beginning of year.............. 21,123,770 10,161,644 634,902,757 732,596,404
--------------- ---------------- ---------------- ----------------
End of year.................... $ 102,757,891 $ 21,123,770 $ 622,764,700 $ 634,902,757
=============== ================ ================ ================
MIST PIMCO TOTAL RETURN MIST PYRAMIS GOVERNMENT INCOME
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 15,567,461 $ 62,753,001 $ 5,121,802 $ 5,912,789
Net realized gains (losses).... (9,752,580) 12,734,375 484,438 (146,659)
Change in unrealized gains
(losses) on investments...... 11,149,277 (99,708,652) (5,834,587) (11,685,773)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 16,964,158 (24,221,276) (228,347) (5,919,643)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 10,347,774 11,483,909 15,864,750 10,291,987
Net transfers (including fixed
account)..................... (15,057,846) (60,045,845) 44,787,356 21,792,687
Contract charges............... (18,905,496) (19,181,926) (12,288,781) (11,384,051)
Transfers for contract benefits
and terminations............. (108,958,935) (133,249,327) (50,418,725) (44,187,565)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (132,574,503) (200,993,189) (2,055,400) (23,486,942)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. (115,610,345) (225,214,465) (2,283,747) (29,406,585)
NET ASSETS:
Beginning of year.............. 1,561,823,561 1,787,038,026 651,039,693 680,446,278
---------------- ---------------- ---------------- ----------------
End of year.................... $ 1,446,213,216 $ 1,561,823,561 $ 648,755,946 $ 651,039,693
================ ================ ================ ================
MIST PYRAMIS MANAGED RISK
SUB-ACCOUNT
---------------------------------
2016 2015
---------------- ---------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (2,665,946) $ (2,007,729)
Net realized gains (losses).... 1,126,613 8,573,592
Change in unrealized gains
(losses) on investments...... 14,310,453 (18,736,202)
---------------- ---------------
Net increase (decrease)
in net assets resulting
from operations............ 12,771,120 (12,170,339)
---------------- ---------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 37,420,704 41,633,612
Net transfers (including fixed
account)..................... 41,259,942 178,575,410
Contract charges............... (5,650,668) (3,482,370)
Transfers for contract benefits
and terminations............. (21,503,630) (16,426,832)
---------------- ---------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 51,526,348 200,299,820
---------------- ---------------
Net increase (decrease)
in net assets.............. 64,297,468 188,129,481
NET ASSETS:
Beginning of year.............. 351,642,870 163,513,389
---------------- ---------------
End of year.................... $ 415,940,338 $ 351,642,870
================ ===============
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
80
The accompanying notes are an integral part of these financial statements.
81
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
MIST SCHRODERS GLOBAL MULTI-ASSET MIST SSGA GROWTH AND INCOME ETF
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (41,848) $ (2,230,760) $ 11,412,496 $ 11,496,565
Net realized gains (losses).... 9,121,877 17,165,832 76,689,439 96,130,725
Change in unrealized gains
(losses) on investments...... 14,289,470 (29,873,677) (34,109,060) (155,135,668)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 23,369,499 (14,938,605) 53,992,875 (47,508,378)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 26,804,004 35,201,400 22,979,145 21,766,022
Net transfers (including fixed
account)..................... 1,726,932 81,935,629 (35,921,094) (22,073,877)
Contract charges............... (9,116,567) (8,094,448) (17,584,989) (18,156,689)
Transfers for contract benefits
and terminations............. (28,231,649) (24,612,353) (82,883,163) (97,925,260)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (8,817,280) 84,430,228 (113,410,101) (116,389,804)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. 14,552,219 69,491,623 (59,417,226) (163,898,182)
NET ASSETS:
Beginning of year.............. 562,872,602 493,380,979 1,349,807,450 1,513,705,632
---------------- ---------------- ---------------- ----------------
End of year.................... $ 577,424,821 $ 562,872,602 $ 1,290,390,224 $ 1,349,807,450
================ ================ ================ ================
MIST SSGA GROWTH ETF MIST T. ROWE PRICE LARGE CAP VALUE
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 2,695,036 $ 2,269,909 $ 9,316,005 $ 527,754
Net realized gains (losses).... 30,709,532 33,558,305 97,464,171 29,555,568
Change in unrealized gains
(losses) on investments...... (11,006,299) (54,174,177) (12,601,645) (69,547,913)
---------------- ---------------- ---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ 22,398,269 (18,345,963) 94,178,531 (39,464,591)
---------------- ---------------- ---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 2,770,076 7,054,310 8,548,777 10,615,106
Net transfers (including fixed
account)..................... (8,203,434) 9,763,304 (6,993,418) (11,574,647)
Contract charges............... (5,726,100) (5,722,795) (4,671,865) (4,674,135)
Transfers for contract benefits
and terminations............. (23,760,861) (27,279,503) (59,133,973) (77,867,417)
---------------- ---------------- ---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (34,920,319) (16,184,684) (62,250,479) (83,501,093)
---------------- ---------------- ---------------- -----------------
Net increase (decrease)
in net assets.............. (12,522,050) (34,530,647) 31,928,052 (122,965,684)
NET ASSETS:
Beginning of year.............. 467,274,058 501,804,705 715,850,738 838,816,422
---------------- ---------------- ---------------- -----------------
End of year.................... $ 454,752,008 $ 467,274,058 $ 747,778,790 $ 715,850,738
================ ================ ================ =================
MIST
T. ROWE PRICE MID CAP GROWTH MIST TCW CORE FIXED INCOME
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015 (b)
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (7,333,776) $ (8,239,927) $ (1,112) $ (228)
Net realized gains (losses).... 77,584,230 108,417,654 (86) (4)
Change in unrealized gains
(losses) on investments...... (49,804,269) (73,202,424) (1,515) (184)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 20,446,185 26,975,303 (2,713) (416)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 4,471,810 3,040,163 67,810 59,306
Net transfers (including fixed
account)..................... (10,933,992) (34,784,143) 154,898 15,279
Contract charges............... (4,880,554) (5,053,956) (426) --
Transfers for contract benefits
and terminations............. (31,973,648) (42,109,408) -- (1,000)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (43,316,384) (78,907,344) 222,282 73,585
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. (22,870,199) (51,932,041) 219,569 73,169
NET ASSETS:
Beginning of year.............. 485,654,167 537,586,208 73,169 --
---------------- ---------------- ---------------- ----------------
End of year.................... $ 462,783,968 $ 485,654,167 $ 292,738 $ 73,169
================ ================ ================ ================
MSF
BAILLIE GIFFORD INTERNATIONAL STOCK
SUB-ACCOUNT
------------------------------------
2016 2015
---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (358,899) $ (271,859)
Net realized gains (losses).... 1,625,583 3,508,939
Change in unrealized gains
(losses) on investments...... 7,350,769 (10,663,827)
---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 8,617,453 (7,426,747)
---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 1,435,007 1,385,690
Net transfers (including fixed
account)..................... (3,447,836) (10,590,297)
Contract charges............... (2,978,189) (3,102,764)
Transfers for contract benefits
and terminations............. (15,218,207) (16,356,797)
---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (20,209,225) (28,664,168)
---------------- ----------------
Net increase (decrease)
in net assets.............. (11,591,772) (36,090,915)
NET ASSETS:
Beginning of year.............. 233,411,516 269,502,431
---------------- ----------------
End of year.................... $ 221,819,744 $ 233,411,516
================ ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
82
The accompanying notes are an integral part of these financial statements.
83
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
MSF BARCLAYS AGGREGATE BOND INDEX MSF BLACKROCK BOND INCOME
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 3,936,404 $ 2,774,012 $ 1,021,734 $ 1,289,428
Net realized gains (losses).... (40,488) (126,236) (7,093) 833,937
Change in unrealized gains
(losses) on investments...... (2,592,464) (6,456,221) (212,769) (2,926,902)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 1,303,452 (3,808,445) 801,872 (803,537)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 30,163,105 21,367,597 4,112,157 4,381,285
Net transfers (including fixed
account)..................... 60,238,116 35,972,097 7,482,169 8,341,934
Contract charges............... (4,030,668) (2,855,104) (846,113) (712,128)
Transfers for contract benefits
and terminations............. (24,282,675) (19,044,499) (6,120,099) (5,777,255)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 62,087,878 35,440,091 4,628,114 6,233,836
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. 63,391,330 31,631,646 5,429,986 5,430,299
NET ASSETS:
Beginning of year.............. 245,107,645 213,475,999 69,045,344 63,615,045
---------------- ---------------- ---------------- ----------------
End of year.................... $ 308,498,975 $ 245,107,645 $ 74,475,330 $ 69,045,344
================ ================ ================ ================
MSF
BLACKROCK CAPITAL APPRECIATION MSF BLACKROCK LARGE CAP VALUE
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (217,485) $ (237,170) $ 14,083 $ 21,337
Net realized gains (losses).... 1,398,745 3,380,193 184,701 294,376
Change in unrealized gains
(losses) on investments...... (1,411,365) (2,490,455) 531,674 (639,612)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ (230,105) 652,568 730,458 (323,899)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 698,086 702,398 517,735 590,441
Net transfers (including fixed
account)..................... 400,373 113,015 122,400 157,108
Contract charges............... (122,760) (124,569) (1,953) (156)
Transfers for contract benefits
and terminations............. (947,754) (1,728,698) (492,830) (476,050)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 27,945 (1,037,854) 145,352 271,343
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. (202,160) (385,286) 875,810 (52,556)
NET ASSETS:
Beginning of year.............. 14,301,142 14,686,428 4,149,008 4,201,564
---------------- ---------------- ---------------- ----------------
End of year.................... $ 14,098,982 $ 14,301,142 $ 5,024,818 $ 4,149,008
================ ================ ================ ================
MSF
BLACKROCK ULTRA-SHORT TERM BOND MSF FRONTIER MID CAP GROWTH
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (5,946,317) $ (6,027,107) $ (1,111,280) $ (1,351,696)
Net realized gains (losses).... 57,290 -- 8,350,119 14,193,562
Change in unrealized gains
(losses) on investments...... 390,465 -- (4,923,796) (11,177,142)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ (5,498,562) (6,027,107) 2,315,043 1,664,724
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 22,629,305 38,032,970 459,936 560,464
Net transfers (including fixed
account)..................... 2,241,216 72,942,198 (1,795,582) (742,070)
Contract charges............... (4,507,711) (4,210,469) (696,983) (814,235)
Transfers for contract benefits
and terminations............. (69,743,801) (98,033,180) (7,462,054) (8,311,622)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (49,380,991) 8,731,519 (9,494,683) (9,307,463)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. (54,879,553) 2,704,412 (7,179,640) (7,642,739)
NET ASSETS:
Beginning of year.............. 398,590,779 395,886,367 73,654,799 81,297,538
---------------- ---------------- ---------------- ----------------
End of year.................... $ 343,711,226 $ 398,590,779 $ 66,475,159 $ 73,654,799
================ ================ ================ ================
MSF JENNISON GROWTH
SUB-ACCOUNT
---------------------------------
2016 2015
---------------- ---------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (7,224,509) $ (8,255,608)
Net realized gains (losses).... 66,596,672 100,462,145
Change in unrealized gains
(losses) on investments...... (68,013,517) (47,555,352)
---------------- ---------------
Net increase (decrease)
in net assets resulting
from operations............ (8,641,354) 44,651,185
---------------- ---------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 2,534,813 3,569,781
Net transfers (including fixed
account)..................... (5,166,821) (26,498,929)
Contract charges............... (4,030,249) (4,176,518)
Transfers for contract benefits
and terminations............. (38,760,187) (45,499,489)
---------------- ---------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (45,422,444) (72,605,155)
---------------- ---------------
Net increase (decrease)
in net assets.............. (54,063,798) (27,953,970)
NET ASSETS:
Beginning of year.............. 501,066,353 529,020,323
---------------- ---------------
End of year.................... $ 447,002,555 $ 501,066,353
================ ===============
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
84
The accompanying notes are an integral part of these financial statements.
85
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
MSF
MSF LOOMIS SAYLES SMALL CAP CORE LOOMIS SAYLES SMALL CAP GROWTH
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
----------------- ---------------- ----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (213,402) $ (234,690) $ (3,388) $ (3,584)
Net realized gains (losses)..... 1,253,265 1,994,940 24,565 47,572
Change in unrealized gains
(losses) on investments....... 1,063,527 (2,197,811) (5,480) (43,867)
----------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 2,103,390 (437,561) 15,697 121
----------------- ---------------- ----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 395,602 422,787 -- 17,612
Net transfers (including fixed
account)...................... 133,951 (62,478) (2,393) 23,125
Contract charges................ (190,175) (186,706) (1,255) (1,118)
Transfers for contract benefits
and terminations.............. (792,777) (691,869) (48,133) (4,466)
----------------- ---------------- ----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (453,399) (518,266) (51,781) 35,153
----------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets.............. 1,649,991 (955,827) (36,084) 35,274
NET ASSETS:
Beginning of year............... 12,750,644 13,706,471 328,707 293,433
----------------- ---------------- ----------------- ----------------
End of year..................... $ 14,400,635 $ 12,750,644 $ 292,623 $ 328,707
================= ================ ================= ================
MSF MET/DIMENSIONAL
MSF MET/ARTISAN MID CAP VALUE INTERNATIONAL SMALL COMPANY
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- ----------------------------------
2016 2015 2016 2015
----------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (1,440,519) $ (1,466,298) $ 197,982 $ 48,982
Net realized gains (losses)..... 22,590,770 32,839,034 1,959,511 9,734,312
Change in unrealized gains
(losses) on investments....... 17,360,148 (55,970,793) (120,230) (7,397,341)
----------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 38,510,399 (24,598,057) 2,037,263 2,385,953
----------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 1,644,637 1,435,147 541,256 899,458
Net transfers (including fixed
account)...................... 1,133,610 (3,489,375) (3,621,425) 6,674,328
Contract charges................ (1,473,008) (1,479,616) (658,618) (620,871)
Transfers for contract benefits
and terminations.............. (17,651,427) (21,273,771) (3,537,341) (4,404,157)
----------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (16,346,188) (24,807,615) (7,276,128) 2,548,758
----------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. 22,164,211 (49,405,672) (5,238,865) 4,934,711
NET ASSETS:
Beginning of year............... 194,979,851 244,385,523 63,108,799 58,174,088
----------------- ---------------- ---------------- ----------------
End of year..................... $ 217,144,062 $ 194,979,851 $ 57,869,934 $ 63,108,799
================= ================ ================ ================
MSF MET/WELLINGTON
CORE EQUITY OPPORTUNITIES MSF METLIFE ASSET ALLOCATION 20
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ---------------- ----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ 1,219,469 $ 287,887 $ 1,616,202 $ 193,571
Net realized gains (losses)..... 34,882,524 210,355,423 2,468,000 1,389,983
Change in unrealized gains
(losses) on investments....... (1,075,951) (207,207,827) (1,234,614) (2,880,050)
---------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 35,026,042 3,435,483 2,849,588 (1,296,496)
---------------- ---------------- ----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 4,606,124 3,414,204 4,250,508 2,053,677
Net transfers (including fixed
account)...................... 276,900,705 (35,779,438) 39,568,195 27,590,957
Contract charges................ (6,982,057) (4,607,450) (1,078,648) (543,349)
Transfers for contract benefits
and terminations.............. (49,347,852) (47,777,157) (9,572,655) (3,923,720)
---------------- ---------------- ----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 225,176,920 (84,749,841) 33,167,400 25,177,565
---------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets.............. 260,202,962 (81,314,358) 36,016,988 23,881,069
NET ASSETS:
Beginning of year............... 527,700,755 609,015,113 65,568,612 41,687,543
---------------- ---------------- ----------------- ----------------
End of year..................... $ 787,903,717 $ 527,700,755 $ 101,585,600 $ 65,568,612
================ ================ ================= ================
MSF METLIFE ASSET ALLOCATION 40
SUB-ACCOUNT
-----------------------------------
2016 2015
----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ 81,100,363 $ (60,476,835)
Net realized gains (losses)..... 235,969,851 270,937,811
Change in unrealized gains
(losses) on investments....... (140,238,049) (322,220,355)
----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 176,832,165 (111,759,379)
----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 19,515,378 24,369,785
Net transfers (including fixed
account)...................... (85,050,362) (213,524,358)
Contract charges................ (47,232,692) (49,617,104)
Transfers for contract benefits
and terminations.............. (346,107,872) (392,793,086)
----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (458,875,548) (631,564,763)
----------------- ----------------
Net increase (decrease)
in net assets.............. (282,043,383) (743,324,142)
NET ASSETS:
Beginning of year............... 4,248,132,666 4,991,456,808
----------------- ----------------
End of year..................... $ 3,966,089,283 $ 4,248,132,666
================= ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
86
The accompanying notes are an integral part of these financial statements.
87
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
MSF METLIFE ASSET ALLOCATION 60 MSF METLIFE ASSET ALLOCATION 80
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 101,922,722 $ (74,908,862) $ 74,843,650 $ (80,359,716)
Net realized gains (losses).... 531,046,260 481,588,073 621,512,825 310,019,865
Change in unrealized gains
(losses) on investments...... (294,350,528) (594,962,543) (352,024,646) (421,371,788)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 338,618,454 (188,283,332) 344,331,829 (191,711,639)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 44,053,111 51,082,227 25,414,383 38,874,727
Net transfers (including fixed
account)..................... (75,462,340) (102,720,147) (115,627,973) (40,164,388)
Contract charges............... (72,256,944) (74,049,982) (60,722,586) (61,430,326)
Transfers for contract benefits
and terminations............. (477,632,589) (546,730,912) (369,144,991) (439,432,331)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (581,298,762) (672,418,814) (520,081,167) (502,152,318)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. (242,680,308) (860,702,146) (175,749,338) (693,863,957)
NET ASSETS:
Beginning of year.............. 6,667,289,010 7,527,991,156 5,814,030,390 6,507,894,347
---------------- ---------------- ---------------- ----------------
End of year.................... $ 6,424,608,702 $ 6,667,289,010 $ 5,638,281,052 $ 5,814,030,390
================ ================ ================ ================
MSF METLIFE MID CAP STOCK INDEX MSF METLIFE STOCK INDEX
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (552,034) $ (669,052) $ 1,338,523 $ (347,601)
Net realized gains (losses).... 11,662,760 11,113,039 44,048,436 54,311,839
Change in unrealized gains
(losses) on investments...... 11,268,443 (15,667,437) 6,384,703 (57,710,605)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 22,379,169 (5,223,450) 51,771,662 (3,746,367)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 4,058,317 5,977,751 11,055,623 11,741,788
Net transfers (including fixed
account)..................... 13,080,377 3,888,248 30,277,877 (7,225,683)
Contract charges............... (1,110,917) (1,048,036) (4,394,187) (4,442,697)
Transfers for contract benefits
and terminations............. (8,266,622) (9,847,097) (47,239,994) (53,641,340)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 7,761,155 (1,029,134) (10,300,681) (53,567,932)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. 30,140,324 (6,252,584) 41,470,981 (57,314,299)
NET ASSETS:
Beginning of year.............. 121,483,288 127,735,872 553,515,934 610,830,233
---------------- ---------------- ---------------- ----------------
End of year.................... $ 151,623,612 $ 121,483,288 $ 594,986,915 $ 553,515,934
================ ================ ================ ================
MSF MFS TOTAL RETURN MSF MFS VALUE
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- ----------------------------------
2016 2015 2016 2015
----------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 513,233 $ 419,715 $ 1,355,107 $ 2,273,415
Net realized gains (losses).... 2,609,590 1,095,835 23,506,038 43,175,247
Change in unrealized gains
(losses) on investments...... (168,660) (2,338,023) 5,602,006 (49,745,547)
----------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 2,954,163 (822,473) 30,463,151 (4,296,885)
----------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 749,038 1,643,867 3,785,944 4,166,108
Net transfers (including fixed
account)..................... 316,277 1,396,264 20,770,407 17,714,601
Contract charges............... (294,999) (284,691) (2,969,258) (2,641,500)
Transfers for contract benefits
and terminations............. (4,734,648) (5,431,228) (17,315,565) (20,453,721)
----------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (3,964,332) (2,675,788) 4,271,528 (1,214,512)
----------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. (1,010,169) (3,498,261) 34,734,679 (5,511,397)
NET ASSETS:
Beginning of year.............. 42,319,194 45,817,455 249,890,569 255,401,966
----------------- ---------------- ---------------- ----------------
End of year.................... $ 41,309,025 $ 42,319,194 $ 284,625,248 $ 249,890,569
================= ================ ================ ================
MSF MSCI EAFE INDEX
SUB-ACCOUNT
----------------------------------
2016 2015
---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 940,243 $ 1,740,713
Net realized gains (losses).... (241,323) 673,901
Change in unrealized gains
(losses) on investments...... (858,390) (5,975,929)
---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ (159,470) (3,561,315)
---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 2,997,982 4,624,296
Net transfers (including fixed
account)..................... 7,944,110 6,652,908
Contract charges............... (1,022,996) (1,032,788)
Transfers for contract benefits
and terminations............. (5,255,908) (8,003,438)
---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 4,663,188 2,240,978
---------------- ----------------
Net increase (decrease)
in net assets.............. 4,503,718 (1,320,337)
NET ASSETS:
Beginning of year.............. 99,902,951 101,223,288
---------------- ----------------
End of year.................... $ 104,406,669 $ 99,902,951
================ ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
88
The accompanying notes are an integral part of these financial statements.
89
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
MSF NEUBERGER BERMAN GENESIS MSF RUSSELL 2000 INDEX
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (1,743,740) $ (2,005,253) $ (588,763) $ (772,570)
Net realized gains (losses).... 4,670,391 5,492,282 10,623,295 14,703,805
Change in unrealized gains
(losses) on investments...... 16,403,111 (4,849,556) 12,954,748 (21,801,085)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 19,329,762 (1,362,527) 22,989,280 (7,869,850)
---------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 1,149,152 1,474,898 2,739,217 3,655,588
Net transfers (including fixed
account)..................... (8,416,119) (3,545,710) (2,241,509) 1,761,396
Contract charges............... (1,202,775) (1,236,383) (1,250,753) (1,338,539)
Transfers for contract benefits
and terminations............. (9,696,351) (13,484,634) (8,064,211) (11,537,242)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (18,166,093) (16,791,829) (8,817,256) (7,458,797)
---------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. 1,163,669 (18,154,356) 14,172,024 (15,328,647)
NET ASSETS:
Beginning of year.............. 131,949,869 150,104,225 129,529,499 144,858,146
---------------- ---------------- ---------------- ----------------
End of year.................... $ 133,113,538 $ 131,949,869 $ 143,701,523 $ 129,529,499
================ ================ ================ ================
MSF MSF
T. ROWE PRICE LARGE CAP GROWTH T. ROWE PRICE SMALL CAP GROWTH
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ---------------- ----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (3,321,056) $ (2,957,599) $ (158,005) $ (160,395)
Net realized gains (losses).... 24,174,828 34,270,652 1,737,507 1,535,562
Change in unrealized gains
(losses) on investments...... (21,885,537) (16,807,403) (343,061) (1,319,353)
---------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ (1,031,765) 14,505,650 1,236,441 55,814
---------------- ---------------- ----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 5,465,210 4,861,358 1,135,684 1,208,773
Net transfers (including fixed
account)..................... (15,563,299) 65,812,017 (424,023) 1,417,304
Contract charges............... (2,098,114) (1,679,181) (65,427) (67,963)
Transfers for contract benefits
and terminations............. (16,742,262) (17,010,364) (709,343) (775,788)
---------------- ---------------- ----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (28,938,465) 51,983,830 (63,109) 1,782,326
---------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets.............. (29,970,230) 66,489,480 1,173,332 1,838,140
NET ASSETS:
Beginning of year.............. 233,448,817 166,959,337 11,814,560 9,976,420
---------------- ---------------- ----------------- ----------------
End of year.................... $ 203,478,587 $ 233,448,817 $ 12,987,892 $ 11,814,560
================ ================ ================= ================
MSF MSF WESTERN ASSET MANAGEMENT
VAN ECK GLOBAL NATURAL RESOURCES STRATEGIC BOND OPPORTUNITIES
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ---------------- ----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (817,168) $ (1,169,677) $ 6,258,190 $ 1,666
Net realized gains (losses).... (8,797,189) (1,908,883) 1,831,076 (74)
Change in unrealized gains
(losses) on investments...... 41,329,617 (29,752,057) 30,665,968 (7,019)
---------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 31,715,260 (32,830,617) 38,755,234 (5,427)
---------------- ---------------- ----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 540,665 905,618 6,741,904 98,520
Net transfers (including fixed
account)..................... (12,765,187) 23,947,255 1,071,425,957 89,485
Contract charges............... (1,347,635) (1,200,210) (8,025,524) --
Transfers for contract benefits
and terminations............. (4,973,728) (5,238,300) (59,024,383) (11)
---------------- ---------------- ----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (18,545,885) 18,414,363 1,011,117,954 187,994
---------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets.............. 13,169,375 (14,416,254) 1,049,873,188 182,567
NET ASSETS:
Beginning of year.............. 74,871,874 89,288,128 195,310 12,743
---------------- ---------------- ----------------- ----------------
End of year.................... $ 88,041,249 $ 74,871,874 $ 1,050,068,498 $ 195,310
================ ================ ================= ================
MSF WESTERN ASSET
MANAGEMENT U.S. GOVERNMENT
SUB-ACCOUNT
-----------------------------------
2016 2015
---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 2,541,592 $ 1,639,088
Net realized gains (losses).... (359,178) (87,820)
Change in unrealized gains
(losses) on investments...... (3,071,886) (4,546,618)
---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ (889,472) (2,995,350)
---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 4,839,053 4,788,989
Net transfers (including fixed
account)..................... 3,483,398 14,987,445
Contract charges............... (3,417,794) (3,201,899)
Transfers for contract benefits
and terminations............. (21,968,669) (21,366,180)
---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (17,064,012) (4,791,645)
---------------- -----------------
Net increase (decrease)
in net assets.............. (17,953,484) (7,786,995)
NET ASSETS:
Beginning of year.............. 268,298,667 276,085,662
---------------- -----------------
End of year.................... $ 250,345,183 $ 268,298,667
================ =================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
90
The accompanying notes are an integral part of these financial statements.
91
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
NEUBERGER BERMAN GENESIS OPPENHEIMER VA CORE BOND
SUB-ACCOUNT SUB-ACCOUNT
--------------------------------- ----------------------------------
2016 2015 2016 2015
--------------- ---------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (60) $ (75) $ 165 $ 216
Net realized gains (losses).... 1,095 1,363 (587) (275)
Change in unrealized gains
(losses) on investments...... 214 (1,296) 571 29
--------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 1,249 (8) 149 (30)
--------------- ---------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... -- -- -- --
Net transfers (including fixed
account)..................... -- -- -- --
Contract charges............... -- -- -- --
Transfers for contract benefits
and terminations............. (1,907) (1,783) (1,907) (839)
--------------- ---------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (1,907) (1,783) (1,907) (839)
--------------- ---------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. (658) (1,791) (1,758) (869)
NET ASSETS:
Beginning of year.............. 7,222 9,013 7,477 8,346
--------------- ---------------- ---------------- ----------------
End of year.................... $ 6,564 $ 7,222 $ 5,719 $ 7,477
=============== ================ ================ ================
OPPENHEIMER VA
OPPENHEIMER VA GOVERNMENT MONEY MAIN STREET SMALL CAP
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ----------------------------------
2016 2015 2016 2015
---------------- --------------- ---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (48) $ (50) $ (1,193,648) $ (857,651)
Net realized gains (losses).... -- -- 6,500,090 21,226,168
Change in unrealized gains
(losses) on investments...... -- -- 11,237,743 (28,993,857)
---------------- --------------- ---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ (48) (50) 16,544,185 (8,625,340)
---------------- --------------- ---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... -- -- 1,327,499 2,437,344
Net transfers (including fixed
account)..................... -- -- (2,886,762) (2,506,338)
Contract charges............... -- -- (1,283,015) (1,313,735)
Transfers for contract benefits
and terminations............. (148) (151) (7,757,953) (7,209,455)
---------------- --------------- ---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (148) (151) (10,600,231) (8,592,184)
---------------- --------------- ---------------- ----------------
Net increase (decrease)
in net assets.............. (196) (201) 5,943,954 (17,217,524)
NET ASSETS:
Beginning of year.............. 3,592 3,793 109,248,990 126,466,514
---------------- --------------- ---------------- ----------------
End of year.................... $ 3,396 $ 3,592 $ 115,192,944 $ 109,248,990
================ =============== ================ ================
PIMCO VIT
OPPENHEIMER VA MAIN STREET COMMODITYREALRETURN STRATEGY
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- ---------------------------------
2016 2015 2016 2015
---------------- ---------------- --------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ (264) $ (504) $ (1,454) $ 1,234
Net realized gains (losses).... 14,724 18,609 (4,882) (4,694)
Change in unrealized gains
(losses) on investments...... (4,604) (16,156) 50,041 (56,415)
---------------- ---------------- --------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 9,856 1,949 43,705 (59,875)
---------------- ---------------- --------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... -- -- 82,723 279,525
Net transfers (including fixed
account)..................... -- -- 102,751 38,967
Contract charges............... -- -- (55) (3)
Transfers for contract benefits
and terminations............. (12,174) (3,470) (14,359) (21,699)
---------------- ---------------- --------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (12,174) (3,470) 171,060 296,790
---------------- ---------------- --------------- ----------------
Net increase (decrease)
in net assets.............. (2,318) (1,521) 214,765 236,915
NET ASSETS:
Beginning of year.............. 104,564 106,085 250,085 13,170
---------------- ---------------- --------------- ----------------
End of year.................... $ 102,246 $ 104,564 $ 464,850 $ 250,085
================ ================ =============== ================
PIMCO VIT EMERGING MARKETS BOND
SUB-ACCOUNT
----------------------------------
2016 2015
---------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss)... $ 19,858 $ 8,655
Net realized gains (losses).... (739) 1,363
Change in unrealized gains
(losses) on investments...... 34,366 (28,200)
---------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 53,485 (18,182)
---------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners......... 221,405 401,043
Net transfers (including fixed
account)..................... (13,170) 27,329
Contract charges............... (85) (2)
Transfers for contract benefits
and terminations............. (22,688) (18,594)
---------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 185,462 409,776
---------------- ----------------
Net increase (decrease)
in net assets.............. 238,947 391,594
NET ASSETS:
Beginning of year.............. 406,796 15,202
---------------- ----------------
End of year.................... $ 645,743 $ 406,796
================ ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
92
The accompanying notes are an integral part of these financial statements.
93
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
PIMCO VIT UNCONSTRAINED BOND PIONEER VCT MID CAP VALUE
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ----------------- ---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ 290 $ 5,688 $ (573,188) $ (582,428)
Net realized gains (losses)..... (3,758) (255) 4,194,006 9,032,785
Change in unrealized gains
(losses) on investments....... 18,128 (13,479) 5,084,247 (13,899,812)
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ 14,660 (8,046) 8,705,065 (5,449,455)
---------------- ----------------- ---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 195,066 236,532 1,113,121 2,033,056
Net transfers (including fixed
account)...................... 97,472 61,782 (65,716) (692,772)
Contract charges................ (74) (6) (672,822) (665,918)
Transfers for contract benefits
and terminations.............. (28,936) (13,158) (5,748,437) (6,137,579)
---------------- ----------------- ---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 263,528 285,150 (5,373,854) (5,463,213)
---------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets.............. 278,188 277,104 3,331,211 (10,912,668)
NET ASSETS:
Beginning of year............... 281,863 4,759 63,990,328 74,902,996
---------------- ----------------- ---------------- -----------------
End of year..................... $ 560,051 $ 281,863 $ 67,321,539 $ 63,990,328
================ ================= ================ =================
PIONEER VCT REAL ESTATE SHARES T. ROWE PRICE GOVERNMENT MONEY
SUB-ACCOUNT SUB-ACCOUNT
----------------------------------- ------------------------------------
2016 2015 2016 2015
----------------- ---------------- ----------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ 3,941 $ 1,096 $ (5,020) $ (4,409)
Net realized gains (losses)..... 47,420 38,298 -- --
Change in unrealized gains
(losses) on investments....... (40,983) (31,282) -- --
----------------- ---------------- ----------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ 10,378 8,112 (5,020) (4,409)
----------------- ---------------- ----------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 621 3,056 -- --
Net transfers (including fixed
account)...................... 8,221 (13,623) 92,628 2,822
Contract charges................ (3,301) (2,978) (118) (131)
Transfers for contract benefits
and terminations.............. (4,793) (3,545) (51,844) (15,458)
----------------- ---------------- ----------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... 748 (17,090) 40,666 (12,767)
----------------- ---------------- ----------------- -----------------
Net increase (decrease)
in net assets.............. 11,126 (8,978) 35,646 (17,176)
NET ASSETS:
Beginning of year............... 240,901 249,879 497,039 514,215
----------------- ---------------- ----------------- -----------------
End of year..................... $ 252,027 $ 240,901 $ 532,685 $ 497,039
================= ================ ================= =================
T. ROWE PRICE GROWTH STOCK T. ROWE PRICE INTERNATIONAL STOCK
SUB-ACCOUNT SUB-ACCOUNT
---------------------------------- -----------------------------------
2016 2015 2016 2015
---------------- ---------------- ----------------- ----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (52,576) $ (66,257) $ 1,032 $ (526)
Net realized gains (losses)..... 412,844 1,195,637 8,094 33,135
Change in unrealized gains
(losses) on investments....... (355,528) (416,328) (3,274) (36,641)
---------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets resulting
from operations............ 4,740 713,052 5,852 (4,032)
---------------- ---------------- ----------------- ----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 193,684 221,245 10,989 14,912
Net transfers (including fixed
account)...................... (301,323) (580,009) (11,589) (98,531)
Contract charges................ (1,118) (1,330) (96) (109)
Transfers for contract benefits
and terminations.............. (562,309) (805,724) (39,735) (117,510)
---------------- ---------------- ----------------- ----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (671,066) (1,165,818) (40,431) (201,238)
---------------- ---------------- ----------------- ----------------
Net increase (decrease)
in net assets.............. (666,326) (452,766) (34,579) (205,270)
NET ASSETS:
Beginning of year............... 7,058,976 7,511,742 417,754 623,024
---------------- ---------------- ----------------- ----------------
End of year..................... $ 6,392,650 $ 7,058,976 $ 383,175 $ 417,754
================ ================ ================= ================
TAP 1919 VARIABLE SOCIALLY
RESPONSIVE BALANCED
SUB-ACCOUNT
------------------------------------
2016 2015
----------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).... $ (1,057) $ (987)
Net realized gains (losses)..... 8,317 27,006
Change in unrealized gains
(losses) on investments....... (2,565) (33,756)
----------------- -----------------
Net increase (decrease)
in net assets resulting
from operations............ 4,695 (7,737)
----------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners.......... 3,677 --
Net transfers (including fixed
account)...................... (931) 2,550
Contract charges................ (117) (112)
Transfers for contract benefits
and terminations.............. (79,210) (32,709)
----------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions...... (76,581) (30,271)
----------------- -----------------
Net increase (decrease)
in net assets.............. (71,886) (38,008)
NET ASSETS:
Beginning of year............... 215,832 253,840
----------------- -----------------
End of year..................... $ 143,946 $ 215,832
================= =================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
94
The accompanying notes are an integral part of these financial statements.
95
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
STATEMENTS OF CHANGES IN NET ASSETS -- (CONCLUDED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
UIF GLOBAL INFRASTRUCTURE VANECK VIP LONG/SHORT EQUITY INDEX
SUB-ACCOUNT SUB-ACCOUNT
------------------------------------ -----------------------------------
2016 2015 2016 2015
----------------- ----------------- ---------------- -----------------
INCREASE (DECREASE) IN
NET ASSETS:
FROM OPERATIONS:
Net investment income (loss).......................... $ 3,590 $ 201 $ (4,518) $ (1,955)
Net realized gains (losses)........................... 25,538 14,300 (92) 302
Change in unrealized gains
(losses) on investments............................. 25,505 (52,813) 11,722 (6,810)
----------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets resulting
from operations.................................. 54,633 (38,312) 7,112 (8,463)
----------------- ----------------- ---------------- -----------------
CONTRACT TRANSACTIONS:
Purchase payments received
from contract owners................................ 90,084 309,552 33,964 227,796
Net transfers (including fixed
account)............................................ 43,465 88,579 184,712 27,028
Contract charges...................................... (144) (5) (78) (5)
Transfers for contract benefits
and terminations.................................... (29,784) (22,594) (25,761) (2,806)
----------------- ----------------- ---------------- -----------------
Net increase (decrease) in
net assets resulting from
contract transactions............................ 103,621 375,532 192,837 252,013
----------------- ----------------- ---------------- -----------------
Net increase (decrease)
in net assets.................................... 158,254 337,220 199,949 243,550
NET ASSETS:
Beginning of year..................................... 345,685 8,465 260,319 16,769
----------------- ----------------- ---------------- -----------------
End of year........................................... $ 503,939 $ 345,685 $ 460,268 $ 260,319
================= ================= ================ =================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
The accompanying notes are an integral part of these financial statements.
96
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS
1. ORGANIZATION
MetLife Investors USA Separate Account A (the "Separate Account"), a separate
account of MetLife Insurance Company USA (the "Company"), was established by
the Board of Directors of MetLife Investors USA Insurance Company ("MLI-USA")
on May 29, 1980 to support operations of MLI-USA with respect to certain
variable annuity contracts (the "Contracts"). On November 14, 2014, MLI-USA
merged into the Company and the Separate Account became a Separate Account of
the Company. The Company is a direct wholly-owned subsidiary of MetLife, Inc.,
a Delaware corporation. The Separate Account is registered as a unit investment
trust under the Investment Company Act of 1940, as amended, and exists in
accordance with the regulations of the Delaware Department of Insurance.
On January 12, 2016, MetLife, Inc. announced its plan to pursue the separation
of a portion of its retail business, (the "Separation"). Additionally, on July
21, 2016, MetLife, Inc. announced that the following the Separation, the
separated business will be rebranded as "Brighthouse Financial." On October 5,
2016, Brighthouse Financial, Inc., a subsidiary of MetLife, Inc.
("Brighthouse"), filed a registration statement on Form 10 (the "Form 10") with
the U.S. Securities and Exchange Commission ("SEC"), which included a
description of how MetLife, Inc. currently plans to effectuate the Separation.
On December 6, 2016, Brighthouse filed amendments to its registration statement
on Form 10 with the SEC. The information statement filed as an exhibit to the
Form 10 disclosed that MetLife, Inc. intends to include the Company, New
England Life Insurance Company, First MetLife Investors Insurance Company and
MetLife Advisers, LLC ("MetLife Advisers"), among other companies, in the
proposed separated business. The ultimate form and timing of the Separation
will be influenced by a number of factors, including regulatory considerations
and economic conditions. MetLife continues to evaluate and pursue structural
alternatives for the proposed Separation. MetLife expects that the life and
annuity business sold through Metropolitan Life Insurance Company will not be a
part of Brighthouse Financial. The Separation remains subject to certain
conditions, including, among others, obtaining final approval from the MetLife,
Inc. Board of Directors, receipt of a favorable ruling from the Internal
Revenue Service and an opinion from MetLife's tax advisor regarding certain
U.S. federal income tax matters, and an SEC declaration of the effectiveness of
the Form 10.
The Separate Account is divided into Sub-Accounts, each of which is treated as
an individual accounting entity for financial reporting purposes. Each
Sub-Account invests in shares of the corresponding portfolio, series or fund
(with the same name) of registered investment management companies (the
"Trusts"), which are presented below:
AIM Variable Insurance Funds (Invesco Variable Met Investors Series Trust ("MIST")*
Insurance Funds) ("Invesco V.I.") Metropolitan Series Fund ("MSF")*
American Funds Insurance Series ("American Funds") MFS Variable Insurance Trust ("MFS VIT")
BlackRock Variable Series Funds, Inc ("BlackRock") Neuberger Berman Equity Funds ("Neuberger Berman")
Deutsche Variable Series I ("Deutsche I") Oppenheimer Variable Account Funds
Federated Insurance Series ("Federated") ("Oppenheimer VA")
Fidelity Variable Insurance Products ("Fidelity VIP") PIMCO Variable Insurance Trust ("PIMCO VIT")
Franklin Templeton Variable Insurance Products Trust Pioneer Variable Contracts Trust ("Pioneer VCT")
("FTVIPT") T. Rowe Price Government Money Fund, Inc.
Ivy Variable Insurance Portfolios ("Ivy VIP") T. Rowe Price Growth Stock Fund, Inc.
Janus Aspen Series ("Janus Aspen") T. Rowe Price International Funds, Inc.
Legg Mason Partners Variable Equity Trust The Alger Portfolios ("Alger")
("LMPVET") Trust for Advised Portfolios ("TAP")
Legg Mason Partners Variable Income Trust The Universal Institutional Funds, Inc. ("UIF")
("LMPVIT") VanEck VIP Trust ("VanEck VIP")
* See Note 5 for a discussion of additional information on related party
transactions.
The assets of each of the Sub-Accounts of the Separate Account are registered
in the name of the Company. Under applicable insurance law, the assets and
liabilities of the Separate Account are clearly identified and distinguished
from the Company's other assets and liabilities. The portion of the Separate
Account's assets applicable to the Contracts is not chargeable with liabilities
arising out of any other business the Company may conduct.
97
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
2. LIST OF SUB-ACCOUNTS
A. Purchase payments, less any applicable charges, applied to the Separate
Account are invested in one or more Sub-Accounts in accordance with the
selection made by the contract owner. The following Sub-Accounts had net assets
as of December 31, 2016:
Alger Small Cap Growth Sub-Account LMPVET EnTrust Permal Alternative Select VIT
American Funds Bond Sub-Account (a) Sub-Account
American Funds Global Growth Sub-Account (a) LMPVET QS Variable Conservative Growth
American Funds Global Small Capitalization Sub-Account
Sub-Account (a) LMPVET QS Variable Growth Sub-Account
American Funds Growth Sub-Account LMPVET QS Variable Moderate Growth Sub-Account
American Funds Growth-Income Sub-Account (a) LMPVIT Western Asset Variable Global High Yield
BlackRock Global Allocation V.I. Sub-Account Bond Sub-Account (a)
Deutsche I CROCI International Sub-Account MFS VIT Investors Trust Sub-Account
Federated High Income Bond Sub-Account MFS VIT New Discovery Sub-Account
Federated Kaufman Sub-Account MFS VIT Research Sub-Account
Fidelity VIP Asset Manager Sub-Account MIST AB Global Dynamic Allocation Sub-Account
Fidelity VIP Contrafund Sub-Account (a) MIST Allianz Global Investors Dynamic Multi-Asset
Fidelity VIP Equity-Income Sub-Account Plus Sub-Account
Fidelity VIP FundsManager 50% Sub-Account MIST American Funds Balanced Allocation Sub-Account
Fidelity VIP FundsManager 60% Sub-Account MIST American Funds Growth Allocation Sub-Account
Fidelity VIP Government Money Market MIST American Funds Growth Sub-Account
Sub-Account (a) MIST American Funds Moderate Allocation
Fidelity VIP Growth Sub-Account Sub-Account
Fidelity VIP Index 500 Sub-Account MIST AQR Global Risk Balanced Sub-Account
Fidelity VIP Mid Cap Sub-Account MIST BlackRock Global Tactical Strategies
Fidelity VIP Overseas Sub-Account Sub-Account
FTVIPT Franklin Income VIP Sub-Account MIST BlackRock High Yield Sub-Account (a)
FTVIPT Franklin Mutual Shares VIP Sub-Account MIST Clarion Global Real Estate Sub-Account
FTVIPT Franklin Small Cap Value VIP Sub-Account MIST ClearBridge Aggressive Growth Sub-Account (a)
FTVIPT Templeton Foreign VIP Sub-Account MIST Goldman Sachs Mid Cap Value Sub-Account
FTVIPT Templeton Global Bond VIP Sub-Account MIST Harris Oakmark International Sub-Account (a)
Invesco V.I. American Franchise Sub-Account MIST Invesco Balanced-Risk Allocation Sub-Account
Invesco V.I. Core Equity Sub-Account MIST Invesco Comstock Sub-Account
Invesco V.I. Equity and Income Sub-Account (a) MIST Invesco Mid Cap Value Sub-Account
Invesco V.I. Growth and Income Sub-Account MIST Invesco Small Cap Growth Sub-Account (a)
Invesco V.I. International Growth Sub-Account (a) MIST JPMorgan Core Bond Sub-Account
Ivy VIP Asset Strategy Sub-Account MIST JPMorgan Global Active Allocation
LMPVET ClearBridge Variable Aggressive Growth Sub-Account
Sub-Account (a) MIST JPMorgan Small Cap Value Sub-Account (a)
LMPVET ClearBridge Variable Appreciation Sub- MIST Loomis Sayles Global Markets Sub-Account
Account (a) MIST Met/Aberdeen Emerging Markets Equity
LMPVET ClearBridge Variable Dividend Strategy Sub-Account
Sub-Account (a) MIST Met/Artisan International Sub-Account
LMPVET ClearBridge Variable Large Cap Growth MIST Met/Eaton Vance Floating Rate Sub-Account
Sub-Account MIST Met/Franklin Low Duration Total Return
LMPVET ClearBridge Variable Large Cap Value Sub- Sub-Account
Account MIST Met/Templeton International Bond Sub-Account
LMPVET ClearBridge Variable Small Cap Growth MIST Met/Wellington Large Cap Research
Sub-Account (a) Sub-Account (a)
98
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
2. LIST OF SUB-ACCOUNTS -- (CONCLUDED)
MIST MetLife Asset Allocation 100 Sub-Account MSF MetLife Asset Allocation 60 Sub-Account
MIST MetLife Balanced Plus Sub-Account MSF MetLife Asset Allocation 80 Sub-Account
MIST MetLife Multi-Index Targeted Risk Sub-Account MSF MetLife Mid Cap Stock Index Sub-Account (a)
MIST MetLife Small Cap Value Sub-Account (a) MSF MetLife Stock Index Sub-Account (a)
MIST MFS Research International Sub-Account (a) MSF MFS Total Return Sub-Account (a)
MIST Morgan Stanley Mid Cap Growth Sub-Account (a) MSF MFS Value Sub-Account (a)
MIST Oppenheimer Global Equity Sub-Account MSF MSCI EAFE Index Sub-Account (a)
MIST PanAgora Global Diversified Risk Sub-Account MSF Neuberger Berman Genesis Sub-Account (a)
MIST PIMCO Inflation Protected Bond Sub-Account MSF Russell 2000 Index Sub-Account (a)
MIST PIMCO Total Return Sub-Account (a) MSF T. Rowe Price Large Cap Growth Sub-Account (a)
MIST Pyramis Government Income Sub-Account MSF T. Rowe Price Small Cap Growth Sub-Account (a)
MIST Pyramis Managed Risk Sub-Account MSF Van Eck Global Natural Resources Sub-Account
MIST Schroders Global Multi-Asset Sub-Account MSF Western Asset Management Strategic Bond
MIST SSGA Growth and Income ETF Sub-Account Opportunities Sub-Account (a)
MIST SSGA Growth ETF Sub-Account MSF Western Asset Management U.S. Government
MIST T. Rowe Price Large Cap Value Sub-Account (a) Sub-Account (a)
MIST T. Rowe Price Mid Cap Growth Sub-Account Neuberger Berman Genesis Sub-Account
MIST TCW Core Fixed Income Sub-Account Oppenheimer VA Core Bond Sub-Account
MSF Baillie Gifford International Stock Sub-Account (a) Oppenheimer VA Government Money Sub-Account
MSF Barclays Aggregate Bond Index Sub-Account (a) Oppenheimer VA Main Street Small Cap Sub-Account (a)
MSF BlackRock Bond Income Sub-Account (a) Oppenheimer VA Main Street Sub-Account
MSF BlackRock Capital Appreciation Sub-Account (a) PIMCO VIT CommodityRealReturn Strategy
MSF BlackRock Large Cap Value Sub-Account (a) Sub-Account
MSF BlackRock Ultra-Short Term Bond Sub-Account (a) PIMCO VIT Emerging Markets Bond Sub-Account
MSF Frontier Mid Cap Growth Sub-Account PIMCO VIT Unconstrained Bond Sub-Account
MSF Jennison Growth Sub-Account (a) Pioneer VCT Mid Cap Value Sub-Account
MSF Loomis Sayles Small Cap Core Sub-Account Pioneer VCT Real Estate Shares Sub-Account
MSF Loomis Sayles Small Cap Growth Sub-Account T. Rowe Price Government Money Sub-Account
MSF Met/Artisan Mid Cap Value Sub-Account (a) T. Rowe Price Growth Stock Sub-Account
MSF Met/Dimensional International Small Company T. Rowe Price International Stock Sub-Account
Sub-Account TAP 1919 Variable Socially Responsive Balanced
MSF Met/Wellington Core Equity Opportunities Sub-Account
Portfolio Sub-Account (a) UIF Global Infrastructure Sub-Account
MSF MetLife Asset Allocation 20 Sub-Account VanEck VIP Long/Short Equity Index Sub-Account
MSF MetLife Asset Allocation 40 Sub-Account
(a) This Sub-Account invests in two or more share classes within the underlying
portfolio, series or fund of the Trusts.
B. The following Sub-Accounts had no net assets as of December 31, 2016:
Janus Aspen Global Research Sub-Account
Oppenheimer VA Global Strategic Income Sub-Account
99
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
3. PORTFOLIO CHANGES
The following Sub-Accounts ceased operations during the year ended December 31,
2016:
MIST Lord Abbett Bond Debenture Sub-Account
MIST Pioneer Fund Sub-Account
MIST Pioneer Strategic Income Sub-Account
The operations of the Sub-Accounts were affected by the following changes that
occurred during the year ended December 31, 2016:
NAME CHANGES:
Former Name New Name
Ivy Funds VIP Asset Strategy Fund Ivy VIP Asset Strategy Fund
Legg Mason Permal Alternative Select VIT Portfolio Legg Mason EnTrust Permal Alternative Select VIT
Portfolio
(MIST) MFS Emerging Markets Equity Portfolio (MIST) Met/Aberdeen Emerging Markets Equity
Portfolio
(MIST) WMC Large Cap Research Portfolio (MIST) Met/Wellington Large Cap Research Portfolio
(MSF) BlackRock Money Market Portfolio (MSF) BlackRock Ultra-Short Term Bond Portfolio
(MSF) WMC Core Equity Opportunities Portfolio (MSF) Met/Wellington Core Equity Opportunities
Portfolio
Oppenheimer Money Fund/VA Oppenheimer Government Money Fund/VA
QS Legg Mason Variable Conservative Growth QS Variable Conservative Growth
QS Legg Mason Variable Growth QS Variable Growth
QS Legg Mason Variable Moderate Growth QS Variable Moderate Growth
T. Rowe Price Prime Reserve Fund T. Rowe Price Government Money Fund
MERGERS:
Former Portfolio New Portfolio
(MIST) Lord Abbett Bond Debenture Portfolio (MSF) Western Asset Management Strategic Bond
Opportunities Portfolio
(MIST) Pioneer Fund Portfolio (MSF) Met/Wellington Core Equity Opportunities
Portfolio
(MIST) Pioneer Strategic Income Portfolio (MSF) Western Asset Management Strategic Bond
Opportunities Portfolio
TRUST NAME CHANGES:
Former Trust New Trust
Ivy Funds Variable Insurance Portfolios Ivy Variable Insurance Portfolios
Van Eck VIP Trust VanEck VIP Trust
4. SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING
The financial statements have been prepared in accordance with accounting
principles generally accepted in the United States of America ("GAAP")
applicable for variable annuity separate accounts registered as unit investment
trusts, which follow the accounting and reporting guidance in Financial
Accounting Standards Board ("FASB") ACCOUNTING STANDARDS CODIFICATION TOPIC
946.
100
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
4. SIGNIFICANT ACCOUNTING POLICIES -- (CONTINUED)
SECURITY TRANSACTIONS
Security transactions are recorded on a trade date basis. Realized gains and
losses on the sales of investments are computed on the basis of the average
cost of the investment sold. Income from dividends and realized gain
distributions are recorded on the ex-distribution date.
SECURITY VALUATION
A Sub-Account's investment in shares of a portfolio, series or fund of the
Trusts is valued at fair value based on the closing net asset value ("NAV") or
price per share as determined by the Trusts as of the end of the year. All
changes in fair value are recorded as changes in unrealized gains (losses) on
investments in the statements of operations of the applicable Sub-Accounts. The
Separate Account defines fair value as the price that would be received to sell
an asset or paid to transfer a liability (an exit price) in the principal or
most advantageous market for the asset or liability in an orderly transaction
between market participants on the measurement date. Each Sub-Account invests
in shares of open-end mutual funds which calculate a daily NAV based on the
fair value of the underlying securities in their portfolios. As a result, and
as required by law, shares of open-end mutual funds are purchased and redeemed
at their quoted daily NAV as reported by the Trusts at the close of each
business day.
FEDERAL INCOME TAXES
The operations of the Separate Account form a part of the total operations of
the Company and are not taxed separately. The Company is taxed as a life
insurance company under the provisions of the Internal Revenue Code ("IRC").
Under the current provisions of the IRC, the Company does not expect to incur
federal income taxes on the earnings of the Separate Account to the extent the
earnings are credited under the Contracts. Accordingly, no charge is currently
being made to the Separate Account for federal income taxes. The Company will
periodically review the status of this policy in the event of changes in the
tax law. A charge may be made in future years for any federal income taxes that
would be attributable to the Contracts.
ANNUITY PAYOUTS
Net assets allocated to Contracts in the payout period are computed according
to industry standard mortality tables. The assumed investment return is between
3.0 and 6.0 percent. The mortality risk is fully borne by the Company and may
result in additional amounts being transferred into the Separate Account by the
Company to cover greater longevity of annuitants than expected. Conversely, if
amounts allocated exceed amounts required, transfers may be made to the
Company.
PURCHASE PAYMENTS
Purchase payments received from contract owners by the Company are credited as
accumulation units as of the end of the valuation period in which received, as
provided in the prospectus of the Contracts, and are reported as contract
transactions on the statements of changes in net assets of the applicable
Sub-Accounts.
NET TRANSFERS
Funds transferred by the contract owner into or out of Sub-Accounts within the
Separate Account or into or out of the fixed account, which is part of the
Company's general account, are recorded on a net basis as net transfers in the
statements of changes in net assets of the applicable Sub-Accounts.
USE OF ESTIMATES
The preparation of financial statements in accordance with GAAP requires
management to make estimates and assumptions that affect amounts reported
herein. Actual results could differ from these estimates.
101
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
4. SIGNIFICANT ACCOUNTING POLICIES -- (CONCLUDED)
ADOPTION OF NEW ACCOUNTING PRONOUNCEMENT
In March 2015, the FASB issued new guidance to improve fair value measurement
guidance (ASU 2015-07, FAIR VALUE MEASUREMENT (TOPIC 820): DISCLOSURE FOR
INVESTMENTS IN CERTAIN ENTITIES THAT CALCULATE NET ASSET VALUE PER SHARE (OR
ITS EQUIVALENT)), effective for fiscal years beginning after December 15, 2015
and interim periods within those years. The objective of this update is to
address the diversity in practice related to how certain investments measured
at NAV with redemption dates in the future (including periodic redemption
dates) are categorized within the fair value hierarchy. The amendments in the
ASU remove the requirement to categorize within the fair value hierarchy all
investments for which the fair value is measured using the NAV per share
practical expedient. Effective January 1, 2016, the Separate Account adopted
this guidance. The adoption resulted in removal of the related disclosures in
Note 4.
5. EXPENSES AND RELATED PARTY TRANSACTIONS
The following annual Separate Account charges paid to the Company are
asset-based charges assessed through a daily reduction in unit values, which
are recorded as expenses in the accompanying statements of operations of the
applicable Sub-Accounts:
Mortality and Expense Risk -- The mortality risk assumed by the Company
is the risk that those insured may die sooner than anticipated and
therefore, the Company will pay an aggregate amount of death benefits
greater than anticipated. The expense risk assumed is the risk that
expenses incurred in issuing and administering the Contracts will exceed
the amounts realized from the administrative charges assessed against the
Contracts. In addition, the charge compensates the Company for the risk
that the investor may live longer than estimated and the Company would be
obligated to pay more in income payments than anticipated.
Administrative -- The Company has responsibility for the administration
of the Contracts and the Separate Account. Generally, the administrative
charge is related to the maintenance, including distribution, of each
contract and the Separate Account.
Optional Death Benefit Rider -- For an additional charge, the total death
benefit payable may be increased based on increases in account value of
the Contracts.
Distribution Expense -- The risk that surrender charges will be
insufficient to cover the actual costs of distribution which includes
commissions, fees, registration costs, direct and indirect selling
expenses.
Guaranteed Minimum Accumulation Benefit -- For an additional charge, the
Company will guarantee that the contract value will not be less than a
guaranteed minimum amount at the end of a specified number of years.
Guaranteed Withdrawal Benefit for Life -- For an additional charge that
includes the Mortality and Expense Risk charge and a Guaranteed
Withdrawal Benefit, the Company will guarantee the periodic return on the
investment for life of a single annuitant or joint annuitants.
Earnings Preservation Benefit -- For an additional charge, the Company
will provide this additional death benefit.
The table below represents the range of effective annual rates for each
respective charge for the year ended December 31, 2016:
----------------------------------------------------------------------------------------------------------------------------
Mortality and Expense Risk 0.70% - 2.05%
----------------------------------------------------------------------------------------------------------------------------
Administrative 0.10% - 0.25%
----------------------------------------------------------------------------------------------------------------------------
Optional Death Benefit Rider 0.15% - 0.35%
----------------------------------------------------------------------------------------------------------------------------
Distribution Expense 0.10%
----------------------------------------------------------------------------------------------------------------------------
Guaranteed Minimum Accumulation Benefit 1.50%
----------------------------------------------------------------------------------------------------------------------------
Guaranteed Withdrawal Benefit for Life 1.90% - 2.05%
----------------------------------------------------------------------------------------------------------------------------
Earnings Preservation Benefit 0.25%
----------------------------------------------------------------------------------------------------------------------------
102
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
5. EXPENSES AND RELATED PARTY TRANSACTIONS -- (CONCLUDED)
The above referenced charges may not necessarily correspond to the costs
associated with providing the services or benefits indicated by the
designation of the charge or associated with a particular contract. The
range of effective rates disclosed above excludes any waivers granted to
certain Sub-Accounts.
The following optional rider charges paid to the Company are charged at each
contract anniversary date through the redemption of units and are recorded as
contract charges in the accompanying statements of changes in net assets of the
applicable Sub-Accounts:
Guaranteed Minimum Accumulation Benefit -- For an additional charge, the
Company will guarantee that the contract value will not be less than a
guaranteed minimum amount at the end of a specified number of years.
Lifetime Withdrawal Guarantee -- For an additional charge, the Company
will guarantee minimum withdrawals for life regardless of market
conditions.
Guaranteed Withdrawal Benefit -- For an additional charge, the Company
will guarantee minimum withdrawals regardless of market conditions.
Guaranteed Minimum Income Benefit -- For an additional charge, the
Company will guarantee a minimum payment regardless of market
conditions.
Enhanced Death Benefit -- For an additional charge, the Company will
guarantee a death benefit equal to the greater of the account value or
the higher of two death benefit bases.
Enhanced Guaranteed Withdrawal Benefit -- For an additional charge, the
Company will guarantee that at least the entire amount of purchase
payments will be returned through a series of withdrawals without
annuitizing.
The table below represents the range of effective annual rates for each
respective charge for the year ended December 31, 2016:
-------------------------------------------------------------------------------------------------------------------------
Guaranteed Minimum Accumulation Benefit 0.75%
-------------------------------------------------------------------------------------------------------------------------
Lifetime Withdrawal Guarantee 0.50% - 1.70%
-------------------------------------------------------------------------------------------------------------------------
Guaranteed Withdrawal Benefit 0.25% - 1.80%
-------------------------------------------------------------------------------------------------------------------------
Guaranteed Minimum Income Benefit 0.50% - 1.15%
-------------------------------------------------------------------------------------------------------------------------
Enhanced Death Benefit 0.60% - 1.35%
-------------------------------------------------------------------------------------------------------------------------
Enhanced Guaranteed Withdrawal Benefit 0.50% - 1.00%
-------------------------------------------------------------------------------------------------------------------------
The above referenced charges may not necessarily correspond to the costs
associated with providing the services or benefits indicated by the
designation of the charge or associated with a particular contract.
A contract maintenance fee ranging from $30 to $50 is assessed on an annual
basis for Contracts with a value of less than $50,000 to $75,000. A transfer
fee ranging from $0 to $25 may be deducted after twelve transfers are made in a
contract year or, for certain contracts, 2% of the amount transferred from the
contract value, if less. For certain Contracts, an administrative charge is
also assessed which ranges from $12 to $29.50 for each Sub-Account in which the
contract owner invests (waived if purchase payments equal or exceed $2,000 in
the year, or if the account value is $10,000 or more at year end). For other
Contracts, the administrative charge is $21.50 plus $2.50 for each Sub-Account
selected, subject to the same waiver terms. In addition, the Contracts impose a
surrender charge which ranges from 0% to 9% if the contract is partially or
fully surrendered within the specified surrender charge period. For certain
Contracts, a transaction charge of the lesser of $10 or 2% of the surrender is
imposed on surrenders and a $10 charge is assessed for annuitizations. For
those contract owners who choose optional living benefit riders or certain
optional death benefit riders, these charges range from 0.25% to 1.80% of the
benefit base and are charged at each contract anniversary date. These charges
are paid to the Company and recorded as contract charges in the accompanying
statements of changes in net assets of the applicable Sub-Accounts.
The MIST and MSF Trusts currently offer shares of their portfolios only to
separate accounts established by the Company and other affiliated life
insurance companies, and are managed by MetLife Advisers, an affiliate of the
Company. MetLife Advisers is also the investment adviser to the portfolios of
the MIST and MSF Trusts.
103
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
6. STATEMENTS OF INVESTMENTS
FOR THE YEAR ENDED
AS OF DECEMBER 31, 2016 DECEMBER 31, 2016
------------------------------- --------------------------------
COST OF PROCEEDS
SHARES COST ($) PURCHASES ($) FROM SALES ($)
------------- ------------- -------------- --------------
Alger Small Cap Growth Sub-Account.......................... 2,456,796 63,173,699 6,577,963 4,871,955
American Funds Bond Sub-Account............................. 12,438,642 133,136,363 6,804,434 22,077,355
American Funds Global Growth Sub-Account.................... 11,615,924 262,921,672 28,857,996 27,296,575
American Funds Global Small Capitalization Sub-Account...... 5,399,497 107,973,198 22,348,376 10,801,545
American Funds Growth Sub-Account........................... 10,832,254 619,686,935 70,559,887 94,097,146
American Funds Growth-Income Sub-Account.................... 8,272,690 320,752,805 49,242,887 38,099,244
BlackRock Global Allocation V.I. Sub-Account................ 193,129 2,635,899 1,072,291 115,232
Deutsche I CROCI International Sub-Account.................. 1,738,842 16,545,633 1,433,007 1,494,780
Federated High Income Bond Sub-Account...................... 4,032 28,020 1,641 1,112
Federated Kaufman Sub-Account............................... 2,850 40,850 3,202 1,989
Fidelity VIP Asset Manager Sub-Account...................... 4,626,593 71,228,345 4,838,784 8,208,259
Fidelity VIP Contrafund Sub-Account......................... 17,377,899 456,942,806 58,656,693 60,128,040
Fidelity VIP Equity-Income Sub-Account...................... 215,807 4,788,573 422,583 1,002,021
Fidelity VIP FundsManager 50% Sub-Account................... 373,684,972 4,395,666,480 261,620,359 253,283,024
Fidelity VIP FundsManager 60% Sub-Account................... 287,724,437 2,872,182,935 162,357,033 680,072,130
Fidelity VIP Government Money Market Sub-Account............ 18,955,238 18,955,238 51,494,589 82,193,377
Fidelity VIP Growth Sub-Account............................. 2,436,867 98,051,625 14,963,874 17,361,060
Fidelity VIP Index 500 Sub-Account.......................... 272,217 36,183,611 945,360 7,094,344
Fidelity VIP Mid Cap Sub-Account............................ 12,403,732 367,633,569 27,516,622 38,014,853
Fidelity VIP Overseas Sub-Account........................... 215,164 3,940,559 218,367 704,463
FTVIPT Franklin Income VIP Sub-Account...................... 16,916,465 254,420,748 15,381,514 29,116,738
FTVIPT Franklin Mutual Shares VIP Sub-Account............... 6,718,384 119,365,184 15,751,499 15,262,749
FTVIPT Franklin Small Cap Value VIP Sub-Account............. 6,625,570 111,808,329 20,623,812 16,071,233
FTVIPT Templeton Foreign VIP Sub-Account.................... 5,033,419 74,367,154 4,997,282 4,826,011
FTVIPT Templeton Global Bond VIP Sub-Account................ 13,159,407 240,672,163 3,518,168 17,976,356
Invesco V.I. American Franchise Sub-Account................. 233 12,941 1,104 2,661
Invesco V.I. Core Equity Sub-Account........................ 4,951 134,590 15,266 18,792
Invesco V.I. Equity and Income Sub-Account.................. 37,006,200 539,721,067 36,881,555 58,085,911
Invesco V.I. Growth and Income Sub-Account.................. 48 882 204 5,854
Invesco V.I. International Growth Sub-Account............... 7,516,905 206,137,475 7,528,602 15,449,019
Ivy VIP Asset Strategy Sub-Account.......................... 28,992 273,197 85,975 160,703
LMPVET ClearBridge Variable Aggressive Growth
Sub-Account............................................... 11,706,369 230,261,767 27,776,002 21,432,482
LMPVET ClearBridge Variable Appreciation Sub-Account........ 11,059,432 290,010,740 19,387,803 36,439,467
LMPVET ClearBridge Variable Dividend Strategy
Sub-Account............................................... 11,781,761 138,318,713 8,395,258 17,673,700
LMPVET ClearBridge Variable Large Cap Growth
Sub-Account............................................... 152,863 2,816,377 309,162 956,231
LMPVET ClearBridge Variable Large Cap Value Sub-Account..... 441,049 7,633,059 1,610,617 1,214,094
LMPVET ClearBridge Variable Small Cap Growth
Sub-Account............................................... 4,827,188 86,042,224 8,986,670 9,704,307
LMPVET EnTrust Permal Alternative Select VIT Sub-Account.... 1,419,672 13,900,602 3,910,128 888,987
LMPVET QS Variable Conservative Growth Sub-Account.......... 2,631,161 33,379,176 2,339,338 3,537,306
LMPVET QS Variable Growth Sub-Account....................... 5,761,050 71,928,286 5,588,402 7,844,693
LMPVET QS Variable Moderate Growth Sub-Account.............. 63,218 731,035 82,196 477,640
LMPVIT Western Asset Variable Global High Yield Bond
Sub-Account............................................... 12,401,443 98,990,048 6,558,717 12,627,828
MFS VIT Investors Trust Sub-Account......................... 346 7,089 1,032 766
MFS VIT New Discovery Sub-Account........................... 2,548 39,303 1,788 1,564
MFS VIT Research Sub-Account................................ 831 15,733 2,272 6,075
MIST AB Global Dynamic Allocation Sub-Account............... 280,453,035 2,848,230,902 115,852,410 206,209,326
MIST Allianz Global Investors Dynamic Multi-Asset Plus
Sub-Account............................................... 7,845,828 82,620,751 24,925,892 5,140,410
MIST American Funds Balanced Allocation Sub-Account......... 325,342,426 2,968,113,516 331,327,884 218,430,765
MIST American Funds Growth Allocation Sub-Account........... 190,709,393 1,628,589,301 218,187,604 164,327,573
MIST American Funds Growth Sub-Account...................... 66,617,368 598,329,860 181,819,491 64,059,085
104
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
6. STATEMENTS OF INVESTMENTS -- (CONTINUED)
FOR THE YEAR ENDED
AS OF DECEMBER 31, 2016 DECEMBER 31, 2016
------------------------------ --------------------------------
COST OF PROCEEDS
SHARES COST ($) PURCHASES ($) FROM SALES ($)
------------- ------------- -------------- --------------
MIST American Funds Moderate Allocation Sub-Account........ 164,303,088 1,529,574,235 158,471,894 109,383,755
MIST AQR Global Risk Balanced Sub-Account.................. 262,668,236 2,765,863,794 2,164,816 247,827,110
MIST BlackRock Global Tactical Strategies Sub-Account...... 512,743,473 5,046,756,822 494,520,779 354,448,753
MIST BlackRock High Yield Sub-Account...................... 30,515,245 244,357,248 45,012,414 38,266,498
MIST Clarion Global Real Estate Sub-Account................ 22,727,707 259,394,904 13,115,641 35,681,834
MIST ClearBridge Aggressive Growth Sub-Account............. 30,217,101 308,134,767 14,121,155 74,642,958
MIST Goldman Sachs Mid Cap Value Sub-Account............... 11,784,987 153,582,417 13,315,817 21,564,402
MIST Harris Oakmark International Sub-Account.............. 44,561,210 622,585,499 66,481,585 81,006,063
MIST Invesco Balanced-Risk Allocation Sub-Account.......... 91,855,309 945,784,258 109,305,221 34,298,485
MIST Invesco Comstock Sub-Account.......................... 50,919,996 603,184,711 83,413,478 82,898,354
MIST Invesco Mid Cap Value Sub-Account..................... 14,229,187 238,657,726 22,568,185 21,982,365
MIST Invesco Small Cap Growth Sub-Account.................. 22,903,644 319,645,202 63,846,091 37,659,196
MIST JPMorgan Core Bond Sub-Account........................ 33,249,505 348,065,952 31,632,610 31,002,671
MIST JPMorgan Global Active Allocation Sub-Account......... 95,091,895 1,036,542,448 110,306,678 59,105,280
MIST JPMorgan Small Cap Value Sub-Account.................. 1,457,792 20,665,955 2,753,028 4,043,412
MIST Loomis Sayles Global Markets Sub-Account.............. 9,980,695 120,925,093 12,483,848 24,940,821
MIST Met/Aberdeen Emerging Markets Equity Sub-Account...... 41,552,845 399,385,513 17,944,789 52,000,922
MIST Met/Artisan International Sub-Account................. 27,051 255,021 157,633 27,238
MIST Met/Eaton Vance Floating Rate Sub-Account............. 6,300,083 64,969,205 11,974,056 14,242,774
MIST Met/Franklin Low Duration Total Return Sub-Account.... 15,148,901 149,960,611 16,144,802 29,377,317
MIST Met/Templeton International Bond Sub-Account.......... 3,969,218 45,231,900 2,802,239 5,831,645
MIST Met/Wellington Large Cap Research Sub-Account......... 1,121,930 11,602,511 1,861,193 2,038,058
MIST MetLife Asset Allocation 100 Sub-Account.............. 48,209,256 513,855,028 87,908,590 69,298,638
MIST MetLife Balanced Plus Sub-Account..................... 643,617,526 6,612,811,145 376,103,285 384,879,272
MIST MetLife Multi-Index Targeted Risk Sub-Account......... 70,808,286 820,793,066 202,238,597 11,945,069
MIST MetLife Small Cap Value Sub-Account................... 16,880,775 237,467,921 12,243,095 39,954,957
MIST MFS Research International Sub-Account................ 24,633,181 266,411,114 9,075,051 25,631,608
MIST Morgan Stanley Mid Cap Growth Sub-Account............. 14,515,126 158,444,966 10,059,347 11,649,094
MIST Oppenheimer Global Equity Sub-Account................. 3,115,819 54,816,464 5,063,679 6,985,212
MIST PanAgora Global Diversified Risk Sub-Account.......... 9,957,177 106,600,781 87,119,950 3,162,552
MIST PIMCO Inflation Protected Bond Sub-Account............ 64,268,822 698,511,680 29,473,060 71,814,532
MIST PIMCO Total Return Sub-Account........................ 129,999,716 1,527,891,817 90,458,506 207,465,551
MIST Pyramis Government Income Sub-Account................. 61,727,511 662,971,826 124,647,847 121,581,438
MIST Pyramis Managed Risk Sub-Account...................... 37,170,729 409,151,110 68,213,077 18,348,064
MIST Schroders Global Multi-Asset Sub-Account.............. 49,863,988 548,494,125 34,990,186 36,019,650
MIST SSGA Growth and Income ETF Sub-Account................ 117,095,315 1,279,955,999 109,068,518 135,429,135
MIST SSGA Growth ETF Sub-Account........................... 41,228,656 434,178,776 49,298,276 52,674,436
MIST T. Rowe Price Large Cap Value Sub-Account............. 22,228,945 608,276,213 122,557,842 94,222,108
MIST T. Rowe Price Mid Cap Growth Sub-Account.............. 47,808,268 428,010,322 77,854,535 56,978,499
MIST TCW Core Fixed Income Sub-Account..................... 29,018 294,488 251,580 30,387
MSF Baillie Gifford International Stock Sub-Account........ 22,405,903 210,245,883 9,328,121 29,896,178
MSF Barclays Aggregate Bond Index Sub-Account.............. 29,061,735 316,592,048 133,499,165 67,474,824
MSF BlackRock Bond Income Sub-Account...................... 711,437 76,010,724 14,486,523 8,836,643
MSF BlackRock Capital Appreciation Sub-Account............. 425,229 12,720,185 3,122,060 2,102,165
MSF BlackRock Large Cap Value Sub-Account.................. 557,905 5,327,354 1,499,522 998,739
MSF BlackRock Ultra-Short Term Bond Sub-Account............ 3,432,973 343,320,994 111,962,097 167,282,118
MSF Frontier Mid Cap Growth Sub-Account.................... 2,323,497 69,312,099 10,470,119 12,292,045
MSF Jennison Growth Sub-Account............................ 34,218,505 417,661,860 68,768,026 60,374,364
MSF Loomis Sayles Small Cap Core Sub-Account............... 55,640 12,945,703 2,219,309 1,677,355
MSF Loomis Sayles Small Cap Growth Sub-Account............. 25,101 331,161 58,172 76,752
MSF Met/Artisan Mid Cap Value Sub-Account.................. 969,986 208,108,379 34,664,712 29,511,409
MSF Met/Dimensional International Small Company
Sub-Account.............................................. 4,629,606 64,316,471 8,276,107 11,699,587
MSF Met/Wellington Core Equity Opportunities Sub-Account... 27,715,689 792,039,442 352,851,798 90,971,353
MSF MetLife Asset Allocation 20 Sub-Account................ 9,583,557 105,042,401 64,937,630 26,876,511
MSF MetLife Asset Allocation 40 Sub-Account................ 352,541,279 4,246,055,991 413,736,292 523,668,476
105
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
6. STATEMENTS OF INVESTMENTS -- (CONCLUDED)
FOR THE YEAR ENDED
AS OF DECEMBER 31, 2016 DECEMBER 31, 2016
------------------------------ -------------------------------
COST OF PROCEEDS
SHARES COST ($) PURCHASES ($) FROM SALES ($)
------------- ------------- -------------- --------------
MSF MetLife Asset Allocation 60 Sub-Account................ 549,581,592 6,980,035,677 801,265,071 693,802,078
MSF MetLife Asset Allocation 80 Sub-Account................ 440,490,712 6,086,147,894 834,684,145 611,810,683
MSF MetLife Mid Cap Stock Index Sub-Account................ 8,150,214 124,168,072 30,133,397 13,087,586
MSF MetLife Stock Index Sub-Account........................ 13,334,507 450,993,943 92,040,350 75,750,138
MSF MFS Total Return Sub-Account........................... 244,194 36,060,015 4,874,299 6,564,791
MSF MFS Value Sub-Account.................................. 18,754,823 277,713,381 65,869,833 36,332,133
MSF MSCI EAFE Index Sub-Account............................ 8,920,237 105,829,002 13,269,783 7,666,355
MSF Neuberger Berman Genesis Sub-Account................... 6,321,445 91,480,088 1,897,267 21,807,139
MSF Russell 2000 Index Sub-Account......................... 7,275,403 112,103,208 20,787,002 22,877,557
MSF T. Rowe Price Large Cap Growth Sub-Account............. 10,251,651 213,583,436 44,160,650 50,620,337
MSF T. Rowe Price Small Cap Growth Sub-Account............. 631,051 11,405,332 3,919,113 2,531,983
MSF Van Eck Global Natural Resources Sub-Account........... 8,159,529 100,937,138 10,419,896 29,782,968
MSF Western Asset Management Strategic Bond Opportunities
Sub-Account.............................................. 78,622,647 1,019,409,839 1,118,674,941 101,298,513
MSF Western Asset Management U.S. Government
Sub-Account.............................................. 21,428,850 257,312,695 22,564,201 37,086,534
Neuberger Berman Genesis Sub-Account....................... 110 4,519 478 1,975
Oppenheimer VA Core Bond Sub-Account....................... 746 7,461 270 2,017
Oppenheimer VA Government Money Sub-Account................ 3,398 3,398 4 207
Oppenheimer VA Main Street Small Cap Sub-Account........... 4,850,146 86,060,279 5,006,480 12,613,994
Oppenheimer VA Main Street Sub-Account..................... 3,599 82,745 13,678 13,614
PIMCO VIT CommodityRealReturn Strategy Sub-Account......... 59,373 473,006 223,492 53,872
PIMCO VIT Emerging Markets Bond Sub-Account................ 51,334 639,536 277,626 72,308
PIMCO VIT Unconstrained Bond Sub-Account................... 54,857 555,442 364,242 100,416
Pioneer VCT Mid Cap Value Sub-Account...................... 3,319,607 60,596,202 5,435,468 7,405,385
Pioneer VCT Real Estate Shares Sub-Account................. 15,371 249,677 76,996 28,969
T. Rowe Price Government Money Sub-Account................. 532,685 532,685 209,662 174,016
T. Rowe Price Growth Stock Sub-Account..................... 120,050 4,446,309 354,539 944,305
T. Rowe Price International Stock Sub-Account.............. 25,061 358,457 17,896 53,599
TAP 1919 Variable Socially Responsive Balanced Sub-Account. 5,553 145,357 15,520 84,171
UIF Global Infrastructure Sub-Account...................... 67,290 531,268 196,924 61,856
VanEck VIP Long/Short Equity Index Sub-Account............. 18,613 455,301 254,079 65,765
106
This page is intentionally left blank.
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
7. SCHEDULES OF UNITS
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015:
ALGER SMALL CAP GROWTH AMERICAN FUNDS BOND AMERICAN FUNDS GLOBAL GROWTH
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------- ------------------------------- -------------------------------
2016 2015 2016 2015 2016 2015
-------------- --------------- --------------- -------------- --------------- --------------
Units beginning of year.......... 3,508,832 3,970,857 8,159,989 8,333,829 7,480,782 8,193,931
Units issued and transferred
from other funding options.... 80,179 111,356 772,477 957,597 522,007 545,519
Units redeemed and transferred to
other funding options......... (388,533) (573,381) (1,639,113) (1,131,437) (1,022,066) (1,258,668)
-------------- --------------- --------------- -------------- --------------- --------------
Units end of year................ 3,200,478 3,508,832 7,293,353 8,159,989 6,980,723 7,480,782
============== =============== =============== ============== =============== ==============
AMERICAN FUNDS
GLOBAL SMALL CAPITALIZATION AMERICAN FUNDS GROWTH
SUB-ACCOUNT SUB-ACCOUNT
------------------------------- --------------------------------
2016 2015 2016 2015
--------------- -------------- --------------- ---------------
Units beginning of year.......... 3,123,694 3,297,014 3,075,557 3,527,704
Units issued and transferred
from other funding options.... 272,900 395,266 75,722 54,060
Units redeemed and transferred to
other funding options......... (456,718) (568,586) (409,695) (506,207)
--------------- -------------- --------------- ---------------
Units end of year................ 2,939,876 3,123,694 2,741,584 3,075,557
=============== ============== =============== ===============
AMERICAN FUNDS GROWTH-INCOME
SUB-ACCOUNT
-------------------------------
2016 2015
-------------- ---------------
Units beginning of year.......... 2,179,793 2,378,568
Units issued and transferred
from other funding options.... 286,066 137,901
Units redeemed and transferred to
other funding options......... (302,222) (336,676)
-------------- ---------------
Units end of year................ 2,163,637 2,179,793
============== ===============
BLACKROCK GLOBAL ALLOCATION V.I. DEUTSCHE I CROCI INTERNATIONAL
SUB-ACCOUNT SUB-ACCOUNT
--------------------------------- --------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- ---------------
Units beginning of year.......... 77,369 402 1,563,760 1,732,959
Units issued and transferred
from other funding options.... 60,040 92,990 71,496 95,371
Units redeemed and transferred to
other funding options......... (13,474) (16,023) (218,351) (264,570)
--------------- --------------- --------------- ---------------
Units end of year................ 123,935 77,369 1,416,905 1,563,760
=============== =============== =============== ===============
FEDERATED HIGH INCOME BOND FEDERATED KAUFMAN
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- --------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- ---------------
Units beginning of year.......... 2,503 2,534 5,491 5,676
Units issued and transferred
from other funding options.... -- -- -- --
Units redeemed and transferred to
other funding options......... (68) (31) (160) (185)
--------------- --------------- --------------- ---------------
Units end of year................ 2,435 2,503 5,331 5,491
=============== =============== =============== ===============
FIDELITY VIP ASSET MANAGER FIDELITY VIP CONTRAFUND
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- --------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- ---------------
Units beginning of year.......... 4,920,853 5,426,360 21,653,047 20,382,633
Units issued and transferred
from other funding options.... 136,470 153,576 2,319,348 3,996,402
Units redeemed and transferred to
other funding options......... (563,948) (659,083) (2,712,917) (2,725,988)
--------------- --------------- --------------- ---------------
Units end of year................ 4,493,375 4,920,853 21,259,478 21,653,047
=============== =============== =============== ===============
FIDELITY VIP EQUITY-INCOME FIDELITY VIP FUNDSMANAGER 50%
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- --------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- ---------------
Units beginning of year.......... 280,187 303,711 340,402,591 268,426,412
Units issued and transferred
from other funding options.... 1,199 911 16,507,550 83,556,244
Units redeemed and transferred to
other funding options......... (51,205) (24,435) (17,347,681) (11,580,065)
--------------- --------------- --------------- ---------------
Units end of year................ 230,181 280,187 339,562,460 340,402,591
=============== =============== =============== ===============
FIDELITY VIP GOVERNMENT
FIDELITY VIP FUNDSMANAGER 60% MONEY MARKET
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- -------------- ---------------
Units beginning of year.......... 299,646,067 319,425,019 5,764,747 5,894,288
Units issued and transferred
from other funding options.... 391,758 457,348 17,447,762 107,299,143
Units redeemed and transferred to
other funding options......... (49,048,117) (20,236,300) (20,453,584) (107,428,684)
--------------- --------------- -------------- ---------------
Units end of year................ 250,989,708 299,646,067 2,758,925 5,764,747
=============== =============== ============== ===============
FIDELITY VIP GROWTH FIDELITY VIP INDEX 500
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- --------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- ---------------
Units beginning of year.......... 6,842,558 7,538,876 2,464,560 2,778,454
Units issued and transferred
from other funding options.... 160,970 221,157 19,180 11,728
Units redeemed and transferred to
other funding options......... (824,248) (917,475) (261,640) (325,622)
--------------- --------------- --------------- ---------------
Units end of year................ 6,179,280 6,842,558 2,222,100 2,464,560
=============== =============== =============== ===============
FIDELITY VIP MID CAP FIDELITY VIP OVERSEAS
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- --------------
Units beginning of year.......... 6,898,177 7,445,624 376,022 411,275
Units issued and transferred
from other funding options.... 397,383 425,914 17,936 16,903
Units redeemed and transferred to
other funding options......... (913,445) (973,361) (60,807) (52,156)
--------------- --------------- --------------- --------------
Units end of year................ 6,382,115 6,898,177 333,151 376,022
=============== =============== =============== ==============
FTVIPT FRANKLIN
FTVIPT FRANKLIN INCOME VIP MUTUAL SHARES VIP
SUB-ACCOUNT SUB-ACCOUNT
------------------------------- --------------------------------
2016 2015 2016 2015
-------------- --------------- --------------- ---------------
Units beginning of year.......... 4,415,184 4,717,186 4,536,450 5,080,687
Units issued and transferred
from other funding options.... 263,011 429,783 273,842 225,032
Units redeemed and transferred to
other funding options......... (646,352) (731,785) (645,310) (769,269)
-------------- --------------- --------------- ---------------
Units end of year................ 4,031,843 4,415,184 4,164,982 4,536,450
============== =============== =============== ===============
FTVIPT FRANKLIN
SMALL CAP VALUE VIP FTVIPT TEMPLETON FOREIGN VIP
SUB-ACCOUNT SUB-ACCOUNT
------------------------------- --------------------------------
2016 2015 2016 2015
-------------- --------------- --------------- ---------------
Units beginning of year.......... 8,783,442 9,145,054 2,282,942 2,354,783
Units issued and transferred
from other funding options.... 669,468 842,504 229,599 310,306
Units redeemed and transferred to
other funding options......... (1,574,210) (1,204,116) (266,760) (382,147)
-------------- --------------- --------------- ---------------
Units end of year................ 7,878,700 8,783,442 2,245,781 2,282,942
============== =============== =============== ===============
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
108
109
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
7. SCHEDULES OF UNITS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015:
FTVIPT TEMPLETON
GLOBAL BOND VIP INVESCO V.I. AMERICAN FRANCHISE
SUB-ACCOUNT SUB-ACCOUNT
--------------------------------- ---------------------------------
2016 2015 2016 2015
---------------- --------------- ---------------- ---------------
Units beginning of year.......... 11,945,145 12,667,617 1,825 1,911
Units issued and transferred
from other funding options.... 1,038,847 1,072,638 -- 277
Units redeemed and transferred to
other funding options......... (1,680,437) (1,795,110) (311) (363)
---------------- --------------- ---------------- ---------------
Units end of year................ 11,303,555 11,945,145 1,514 1,825
================ =============== ================ ===============
INVESCO V.I. CORE EQUITY INVESCO V.I. EQUITY AND INCOME
SUB-ACCOUNT SUB-ACCOUNT
--------------------------------- ---------------------------------
2016 2015 2016 2015
--------------- ---------------- --------------- ----------------
Units beginning of year.......... 27,589 34,703 28,966,281 30,622,887
Units issued and transferred
from other funding options.... 391 222 1,842,325 2,239,714
Units redeemed and transferred to
other funding options......... (2,630) (7,336) (3,784,321) (3,896,320)
--------------- ---------------- --------------- ----------------
Units end of year................ 25,350 27,589 27,024,285 28,966,281
=============== ================ =============== ================
INVESCO V.I. GROWTH AND INCOME INVESCO V.I. INTERNATIONAL GROWTH
SUB-ACCOUNT SUB-ACCOUNT
--------------------------------- ----------------------------------
2016 2015 2016 2015
--------------- ---------------- --------------- ----------------
Units beginning of year.......... 654 665 8,534,492 8,820,511
Units issued and transferred
from other funding options.... 6 4,318 703,865 732,708
Units redeemed and transferred to
other funding options......... (573) (4,329) (945,107) (1,018,727)
--------------- ---------------- --------------- ----------------
Units end of year................ 87 654 8,293,250 8,534,492
=============== ================ =============== ================
LMPVET CLEARBRIDGE
IVY VIP ASSET STRATEGY VARIABLE AGGRESSIVE GROWTH
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- -------------- ---------------
Units beginning of year.......... 20,900 2,575 11,091,987 11,333,726
Units issued and transferred
from other funding options.... 5,793 18,664 1,508,549 1,598,334
Units redeemed and transferred to
other funding options......... (10,870) (339) (1,668,238) (1,840,073)
--------------- --------------- -------------- ---------------
Units end of year................ 15,823 20,900 10,932,298 11,091,987
=============== =============== ============== ===============
LMPVET CLEARBRIDGE LMPVET CLEARBRIDGE
VARIABLE APPRECIATION VARIABLE DIVIDEND STRATEGY
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- --------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- ---------------
Units beginning of year.......... 7,746,928 8,268,721 9,391,848 9,796,222
Units issued and transferred
from other funding options.... 915,561 641,450 876,420 936,597
Units redeemed and transferred to
other funding options......... (1,047,423) (1,163,243) (1,361,334) (1,340,971)
--------------- --------------- --------------- ---------------
Units end of year................ 7,615,066 7,746,928 8,906,934 9,391,848
=============== =============== =============== ===============
LMPVET CLEARBRIDGE LMPVET CLEARBRIDGE
VARIABLE LARGE CAP GROWTH VARIABLE LARGE CAP VALUE
SUB-ACCOUNT SUB-ACCOUNT
------------------------------- --------------------------------
2016 2015 2016 2015
--------------- -------------- --------------- ---------------
Units beginning of year.......... 156,000 200,379 333,277 369,225
Units issued and transferred
from other funding options.... 2,195 6,846 63,190 61,713
Units redeemed and transferred to
other funding options......... (36,762) (51,225) (53,744) (97,661)
--------------- -------------- --------------- ---------------
Units end of year................ 121,433 156,000 342,723 333,277
=============== ============== =============== ===============
LMPVET CLEARBRIDGE LMPVET ENTRUST PERMAL LMPVET QS
VARIABLE SMALL CAP GROWTH ALTERNATIVE SELECT VIT VARIABLE CONSERVATIVE GROWTH
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------- ------------------------------- -------------------------------
2016 2015 2016 2015 2016 2015
--------------- -------------- --------------- -------------- --------------- --------------
Units beginning of year.......... 3,817,761 4,105,606 1,078,857 64,025 1,731,301 1,866,299
Units issued and transferred
from other funding options.... 552,112 409,903 547,861 1,126,041 99,760 197,334
Units redeemed and transferred to
other funding options......... (599,641) (697,748) (198,029) (111,209) (173,182) (332,332)
--------------- -------------- --------------- -------------- --------------- --------------
Units end of year................ 3,770,232 3,817,761 1,428,689 1,078,857 1,657,879 1,731,301
=============== ============== =============== ============== =============== ==============
LMPVET QS LMPVET QS LMPVIT WESTERN ASSET VARIABLE
VARIABLE GROWTH VARIABLE MODERATE GROWTH GLOBAL HIGH YIELD BOND
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------- ------------------------------- ------------------------------
2016 2015 2016 2015 2016 2015
-------------- --------------- -------------- --------------- -------------- --------------
Units beginning of year.......... 4,234,141 4,529,329 67,619 98,417 4,003,585 4,320,147
Units issued and transferred
from other funding options.... 150,989 198,570 2,836 697 230,145 404,813
Units redeemed and transferred to
other funding options......... (421,873) (493,758) (24,517) (31,495) (665,773) (721,375)
-------------- --------------- -------------- --------------- -------------- --------------
Units end of year................ 3,963,257 4,234,141 45,938 67,619 3,567,957 4,003,585
============== =============== ============== =============== ============== ==============
MFS VIT INVESTORS TRUST MFS VIT NEW DISCOVERY
SUB-ACCOUNT SUB-ACCOUNT
------------------------------- --------------------------------
2016 2015 2016 2015
-------------- --------------- --------------- ---------------
Units beginning of year.......... 1,112 1,191 3,178 3,178
Units issued and transferred
from other funding options.... -- -- -- --
Units redeemed and transferred to
other funding options......... (79) (79) (76) --
-------------- --------------- --------------- ---------------
Units end of year................ 1,033 1,112 3,102 3,178
============== =============== =============== ===============
MIST AB GLOBAL
MFS VIT RESEARCH DYNAMIC ALLOCATION
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- --------------
Units beginning of year.......... 3,091 3,115 263,678,991 275,344,937
Units issued and transferred
from other funding options.... -- -- 19,318,402 20,797,979
Units redeemed and transferred to
other funding options......... (714) (24) (30,036,887) (32,463,925)
--------------- --------------- --------------- --------------
Units end of year................ 2,377 3,091 252,960,506 263,678,991
=============== =============== =============== ==============
MIST ALLIANZ GLOBAL INVESTORS MIST AMERICAN FUNDS
DYNAMIC MULTI-ASSET PLUS BALANCED ALLOCATION
SUB-ACCOUNT SUB-ACCOUNT
------------------------------- --------------------------------
2016 2015 2016 2015
-------------- --------------- --------------- ---------------
Units beginning of year.......... 59,800,997 18,219,524 246,263,553 264,143,945
Units issued and transferred
from other funding options.... 33,904,838 46,238,996 15,335,939 12,343,569
Units redeemed and transferred to
other funding options......... (14,269,519) (4,657,523) (27,228,489) (30,223,961)
-------------- --------------- --------------- ---------------
Units end of year................ 79,436,316 59,800,997 234,371,003 246,263,553
============== =============== =============== ===============
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
110
111
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
7. SCHEDULES OF UNITS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015:
MIST AMERICAN FUNDS
GROWTH ALLOCATION MIST AMERICAN FUNDS GROWTH
SUB-ACCOUNT SUB-ACCOUNT
------------------------------- --------------------------------
2016 2015 2016 2015
--------------- -------------- --------------- ---------------
Units beginning of year.......... 137,469,623 142,940,560 77,730,599 71,860,704
Units issued and transferred
from other funding options.... 8,565,324 10,181,343 12,677,891 19,365,787
Units redeemed and transferred to
other funding options......... (17,517,477) (15,652,280) (12,979,518) (13,495,892)
--------------- -------------- --------------- ---------------
Units end of year................ 128,517,470 137,469,623 77,428,972 77,730,599
=============== ============== =============== ===============
MIST AMERICAN FUNDS MIST AQR GLOBAL RISK
MODERATE ALLOCATION BALANCED
SUB-ACCOUNT SUB-ACCOUNT
------------------------------- -------------------------------
2016 2015 2016 2015
-------------- --------------- --------------- --------------
Units beginning of year.......... 126,162,585 137,310,606 241,508,750 265,908,083
Units issued and transferred
from other funding options.... 9,031,479 5,116,512 10,345,425 17,722,524
Units redeemed and transferred to
other funding options......... (13,878,679) (16,264,533) (30,489,959) (42,121,857)
-------------- --------------- --------------- --------------
Units end of year................ 121,315,385 126,162,585 221,364,216 241,508,750
============== =============== =============== ==============
MIST BLACKROCK GLOBAL
TACTICAL STRATEGIES MIST BLACKROCK HIGH YIELD
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- -------------- ---------------
Units beginning of year.......... 445,213,023 463,962,556 9,031,674 9,596,910
Units issued and transferred
from other funding options.... 23,672,589 30,759,555 2,059,900 2,244,487
Units redeemed and transferred to
other funding options......... (47,711,278) (49,509,088) (2,231,500) (2,809,723)
--------------- --------------- -------------- ---------------
Units end of year................ 421,174,334 445,213,023 8,860,074 9,031,674
=============== =============== ============== ===============
MIST CLEARBRIDGE
MIST CLARION GLOBAL REAL ESTATE AGGRESSIVE GROWTH
SUB-ACCOUNT SUB-ACCOUNT
--------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- --------------
Units beginning of year.......... 15,477,002 17,245,897 35,697,833 38,472,258
Units issued and transferred
from other funding options.... 1,636,352 2,066,679 4,081,680 7,454,895
Units redeemed and transferred to
other funding options......... (2,899,353) (3,835,574) (8,063,231) (10,229,320)
--------------- --------------- --------------- --------------
Units end of year................ 14,214,001 15,477,002 31,716,282 35,697,833
=============== =============== =============== ==============
MIST GOLDMAN SACHS MIST HARRIS OAKMARK
MID CAP VALUE INTERNATIONAL
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- --------------
Units beginning of year.......... 6,513,771 7,477,599 25,339,005 26,551,192
Units issued and transferred
from other funding options.... 550,368 909,368 3,176,397 3,949,293
Units redeemed and transferred to
other funding options......... (1,348,683) (1,873,196) (5,507,833) (5,161,480)
--------------- --------------- --------------- --------------
Units end of year................ 5,715,456 6,513,771 23,007,569 25,339,005
=============== =============== =============== ==============
MIST INVESCO
BALANCED-RISK ALLOCATION MIST INVESCO COMSTOCK
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- --------------
Units beginning of year.......... 749,414,346 758,894,714 39,951,458 43,175,673
Units issued and transferred
from other funding options.... 178,177,883 110,674,691 3,419,052 3,588,670
Units redeemed and transferred to
other funding options......... (109,515,300) (120,155,059) (6,626,750) (6,812,885)
--------------- --------------- --------------- --------------
Units end of year................ 818,076,929 749,414,346 36,743,760 39,951,458
=============== =============== =============== ==============
MIST INVESCO MID CAP VALUE MIST INVESCO SMALL CAP GROWTH MIST JPMORGAN CORE BOND
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------- ------------------------------- -------------------------------
2016 2015 2016 2015 2016 2015
-------------- --------------- -------------- --------------- -------------- ---------------
Units beginning of year.......... 7,308,379 6,927,870 11,537,860 11,824,275 31,401,600 32,404,332
Units issued and transferred
from other funding options.... 1,000,977 1,471,034 1,540,952 2,126,130 5,804,842 5,583,982
Units redeemed and transferred to
other funding options......... (1,241,132) (1,090,525) (2,409,263) (2,412,545) (6,142,083) (6,586,714)
-------------- --------------- -------------- --------------- -------------- ---------------
Units end of year................ 7,068,224 7,308,379 10,669,549 11,537,860 31,064,359 31,401,600
============== =============== ============== =============== ============== ===============
MIST JPMORGAN GLOBAL MIST LOOMIS SAYLES
ACTIVE ALLOCATION MIST JPMORGAN SMALL CAP VALUE GLOBAL MARKETS
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------- ------------------------------- -------------------------------
2016 2015 2016 2015 2016 2015
-------------- --------------- -------------- --------------- -------------- ---------------
Units beginning of year.......... 828,919,735 747,266,184 1,287,553 1,417,944 9,530,128 10,444,732
Units issued and transferred
from other funding options.... 155,414,383 183,798,458 78,756 82,373 976,077 1,293,487
Units redeemed and transferred to
other funding options......... (136,235,268) (102,144,907) (225,007) (212,764) (2,000,250) (2,208,091)
-------------- --------------- -------------- --------------- -------------- ---------------
Units end of year................ 848,098,850 828,919,735 1,141,302 1,287,553 8,505,955 9,530,128
============== =============== ============== =============== ============== ===============
MIST MET/ABERDEEN
EMERGING MARKETS EQUITY MIST MET/ARTISAN INTERNATIONAL
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015 (a)
--------------- --------------- --------------- --------------
Units beginning of year.......... 42,624,617 42,182,331 12,794 --
Units issued and transferred
from other funding options.... 5,229,977 7,953,715 17,546 13,794
Units redeemed and transferred to
other funding options......... (8,502,620) (7,511,429) (2,855) (1,000)
--------------- --------------- --------------- --------------
Units end of year................ 39,351,974 42,624,617 27,485 12,794
=============== =============== =============== ==============
MIST MET/EATON VANCE MIST MET/FRANKLIN
FLOATING RATE LOW DURATION TOTAL RETURN
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- --------------
Units beginning of year.......... 5,985,329 6,743,439 16,246,958 17,421,682
Units issued and transferred
from other funding options.... 1,371,315 1,401,318 3,444,662 5,572,005
Units redeemed and transferred to
other funding options......... (1,724,034) (2,159,428) (5,010,731) (6,746,729)
--------------- --------------- --------------- --------------
Units end of year................ 5,632,610 5,985,329 14,680,889 16,246,958
=============== =============== =============== ==============
MIST MET/TEMPLETON MIST MET/WELLINGTON
INTERNATIONAL BOND LARGE CAP RESEARCH
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- --------------
Units beginning of year.......... 3,361,116 3,537,497 1,013,512 1,151,671
Units issued and transferred
from other funding options.... 486,091 523,212 43,104 57,769
Units redeemed and transferred to
other funding options......... (693,904) (699,593) (125,479) (195,928)
--------------- --------------- --------------- --------------
Units end of year................ 3,153,303 3,361,116 931,137 1,013,512
=============== =============== =============== ==============
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
112
113
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
7. SCHEDULES OF UNITS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015:
MIST METLIFE
ASSET ALLOCATION 100 MIST METLIFE BALANCED PLUS
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- --------------
Units beginning of year.......... 37,143,227 39,915,870 552,214,291 569,859,186
Units issued and transferred
from other funding options.... 1,378,487 1,828,840 46,998,673 52,530,370
Units redeemed and transferred to
other funding options......... (4,983,406) (4,601,483) (62,306,567) (70,175,265)
--------------- --------------- --------------- --------------
Units end of year................ 33,538,308 37,143,227 536,906,397 552,214,291
=============== =============== =============== ==============
MIST METLIFE MULTI-INDEX
TARGETED RISK MIST METLIFE SMALL CAP VALUE
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- --------------
Units beginning of year.......... 435,062,012 281,516,918 10,725,811 12,299,087
Units issued and transferred
from other funding options.... 213,057,814 195,537,842 854,348 696,285
Units redeemed and transferred to
other funding options......... (64,211,078) (41,992,748) (2,217,697) (2,269,561)
--------------- --------------- --------------- --------------
Units end of year................ 583,908,748 435,062,012 9,362,462 10,725,811
=============== =============== =============== ==============
MIST MFS MIST MORGAN STANLEY
RESEARCH INTERNATIONAL MID CAP GROWTH
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- --------------
Units beginning of year.......... 18,156,340 18,585,662 12,648,258 12,928,550
Units issued and transferred
from other funding options.... 1,542,675 2,420,616 1,794,662 1,292,590
Units redeemed and transferred to
other funding options......... (2,742,573) (2,849,938) (1,672,384) (1,572,882)
--------------- --------------- --------------- --------------
Units end of year................ 16,956,442 18,156,340 12,770,536 12,648,258
=============== =============== =============== ==============
MIST OPPENHEIMER MIST PANAGORA MIST PIMCO
GLOBAL EQUITY GLOBAL DIVERSIFIED RISK INFLATION PROTECTED BOND
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------- ------------------------------- -------------------------------
2016 2015 2016 2015 2016 2015
--------------- -------------- --------------- -------------- -------------- ---------------
Units beginning of year.......... 2,520,098 2,866,078 21,772,279 9,788,108 46,098,333 50,751,209
Units issued and transferred
from other funding options.... 236,785 127,425 90,776,007 15,578,995 5,877,834 5,226,296
Units redeemed and transferred to
other funding options......... (423,676) (473,405) (16,761,139) (3,594,824) (8,227,044) (9,879,172)
--------------- -------------- --------------- -------------- -------------- ---------------
Units end of year................ 2,333,207 2,520,098 95,787,147 21,772,279 43,749,123 46,098,333
=============== ============== =============== ============== ============== ===============
MIST PYRAMIS
MIST PIMCO TOTAL RETURN GOVERNMENT INCOME MIST PYRAMIS MANAGED RISK
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------ ------------------------------- -------------------------------
2016 2015 2016 2015 2016 2015
-------------- -------------- --------------- -------------- --------------- --------------
Units beginning of year.......... 91,772,688 103,504,587 60,149,269 62,286,953 31,417,980 14,204,266
Units issued and transferred
from other funding options.... 10,440,405 11,840,703 18,530,743 17,467,934 10,679,496 21,363,188
Units redeemed and transferred to
other funding options......... (18,167,160) (23,572,602) (18,704,998) (19,605,618) (5,933,225) (4,149,474)
-------------- -------------- --------------- -------------- --------------- --------------
Units end of year................ 84,045,933 91,772,688 59,975,014 60,149,269 36,164,251 31,417,980
============== ============== =============== ============== =============== ==============
MIST SCHRODERS MIST SSGA
GLOBAL MULTI-ASSET GROWTH AND INCOME ETF MIST SSGA GROWTH ETF
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------- ------------------------------- ------------------------------
2016 2015 2016 2015 2016 2015
-------------- --------------- -------------- --------------- -------------- --------------
Units beginning of year.......... 467,251,015 400,460,215 93,774,991 101,616,119 32,991,663 34,092,389
Units issued and transferred
from other funding options.... 58,310,305 125,494,383 3,654,848 4,020,856 2,024,267 3,610,428
Units redeemed and transferred to
other funding options......... (66,560,148) (58,703,583) (11,480,095) (11,861,984) (4,503,224) (4,711,154)
-------------- --------------- -------------- --------------- -------------- --------------
Units end of year................ 459,001,172 467,251,015 85,949,744 93,774,991 30,512,706 32,991,663
============== =============== ============== =============== ============== ==============
MIST T. ROWE PRICE MIST T. ROWE PRICE MIST TCW CORE
LARGE CAP VALUE MID CAP GROWTH FIXED INCOME
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------- ------------------------------- -------------------------------
2016 2015 2016 2015 2016 2015 (b)
--------------- -------------- --------------- -------------- --------------- --------------
Units beginning of year.......... 12,150,155 13,521,347 27,786,712 32,310,271 7,421 --
Units issued and transferred
from other funding options.... 1,028,927 1,142,766 2,545,274 3,078,951 25,027 7,607
Units redeemed and transferred to
other funding options......... (2,097,012) (2,513,958) (5,011,943) (7,602,510) (3,018) (186)
--------------- -------------- --------------- -------------- --------------- --------------
Units end of year................ 11,082,070 12,150,155 25,320,043 27,786,712 29,430 7,421
=============== ============== =============== ============== =============== ==============
MSF BAILLIE GIFFORD MSF BARCLAYS
INTERNATIONAL STOCK AGGREGATE BOND INDEX
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- --------------
Units beginning of year.......... 24,846,295 27,573,117 18,032,558 16,099,701
Units issued and transferred
from other funding options.... 2,167,017 2,341,820 11,999,341 6,472,916
Units redeemed and transferred to
other funding options......... (4,208,496) (5,068,642) (8,425,458) (4,540,059)
--------------- --------------- --------------- --------------
Units end of year................ 22,804,816 24,846,295 21,606,441 18,032,558
=============== =============== =============== ==============
MSF BLACKROCK MSF BLACKROCK
BOND INCOME CAPITAL APPRECIATION
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- ------------------------------
2016 2015 2016 2015
--------------- --------------- -------------- --------------
Units beginning of year.......... 1,196,294 1,105,752 579,182 639,908
Units issued and transferred
from other funding options.... 289,844 302,840 93,393 70,075
Units redeemed and transferred to
other funding options......... (216,789) (212,298) (87,808) (130,801)
--------------- --------------- -------------- --------------
Units end of year................ 1,269,349 1,196,294 584,767 579,182
=============== =============== ============== ==============
MSF BLACKROCK MSF BLACKROCK
LARGE CAP VALUE ULTRA-SHORT TERM BOND
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- --------------
Units beginning of year.......... 245,613 229,967 39,040,662 39,068,482
Units issued and transferred
from other funding options.... 77,920 67,694 22,705,149 27,939,873
Units redeemed and transferred to
other funding options......... (68,703) (52,048) (27,830,740) (27,967,693)
--------------- --------------- --------------- --------------
Units end of year................ 254,830 245,613 33,915,071 39,040,662
=============== =============== =============== ==============
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
114
115
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
7. SCHEDULES OF UNITS -- (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015:
MSF LOOMIS SAYLES
MSF FRONTIER MID CAP GROWTH MSF JENNISON GROWTH SMALL CAP CORE
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------- ------------------------------- -------------------------------
2016 2015 2016 2015 2016 2015
-------------- --------------- -------------- --------------- -------------- ---------------
Units beginning of year.......... 3,809,398 4,248,372 23,988,437 27,528,387 250,951 261,060
Units issued and transferred
from other funding options.... 314,123 926,646 2,192,365 2,170,102 29,461 23,649
Units redeemed and transferred to
other funding options......... (805,895) (1,365,620) (4,424,040) (5,710,052) (38,665) (33,758)
-------------- --------------- -------------- --------------- -------------- ---------------
Units end of year................ 3,317,626 3,809,398 21,756,762 23,988,437 241,747 250,951
============== =============== ============== =============== ============== ===============
MSF LOOMIS SAYLES MSF MET/ARTISAN MSF MET/DIMENSIONAL
SMALL CAP GROWTH MID CAP VALUE INTERNATIONAL SMALL COMPANY
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------- ------------------------------- -------------------------------
2016 2015 2016 2015 2016 2015
-------------- --------------- -------------- --------------- -------------- ---------------
Units beginning of year.......... 18,203 16,302 10,052,598 11,205,267 3,198,853 3,070,324
Units issued and transferred
from other funding options.... 1,246 2,801 1,328,066 798,484 449,612 831,227
Units redeemed and transferred to
other funding options......... (4,021) (900) (2,104,725) (1,951,153) (833,482) (702,698)
-------------- --------------- -------------- --------------- -------------- ---------------
Units end of year................ 15,428 18,203 9,275,939 10,052,598 2,814,983 3,198,853
============== =============== ============== =============== ============== ===============
MSF MET/WELLINGTON MSF METLIFE
CORE EQUITY OPPORTUNITIES ASSET ALLOCATION 20
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- --------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- ---------------
Units beginning of year.......... 26,356,637 30,718,018 4,782,874 2,973,577
Units issued and transferred
from other funding options.... 8,235,123 1,037,897 5,207,792 3,666,154
Units redeemed and transferred to
other funding options......... (4,926,115) (5,399,278) (2,798,512) (1,856,857)
--------------- --------------- --------------- ---------------
Units end of year................ 29,665,645 26,356,637 7,192,154 4,782,874
=============== =============== =============== ===============
MSF METLIFE MSF METLIFE
ASSET ALLOCATION 40 ASSET ALLOCATION 60
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- --------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- ---------------
Units beginning of year.......... 297,958,878 341,017,115 446,107,386 489,838,225
Units issued and transferred
from other funding options.... 6,249,604 6,819,800 12,125,390 15,596,548
Units redeemed and transferred to
other funding options......... (37,857,212) (49,878,037) (50,681,240) (59,327,387)
--------------- --------------- --------------- ---------------
Units end of year................ 266,351,270 297,958,878 407,551,536 446,107,386
=============== =============== =============== ===============
MSF METLIFE MSF METLIFE
ASSET ALLOCATION 80 MID CAP STOCK INDEX
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- --------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- ---------------
Units beginning of year.......... 388,323,652 420,572,925 5,111,469 5,178,461
Units issued and transferred
from other funding options.... 7,664,067 11,840,482 1,293,546 988,386
Units redeemed and transferred to
other funding options......... (42,177,168) (44,089,755) (1,066,476) (1,055,378)
--------------- --------------- --------------- ---------------
Units end of year................ 353,810,551 388,323,652 5,338,539 5,111,469
=============== =============== =============== ===============
MSF METLIFE STOCK INDEX MSF MFS TOTAL RETURN MSF MFS VALUE
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------ ------------------------------ ------------------------------
2016 2015 2016 2015 2016 2015
-------------- -------------- -------------- -------------- -------------- --------------
Units beginning of year............ 25,649,785 28,264,874 710,775 756,067 10,866,190 10,916,908
Units issued and transferred
from other funding options...... 5,242,838 4,504,075 45,755 82,475 2,869,961 2,504,720
Units redeemed and transferred to
other funding options........... (5,673,804) (7,119,164) (111,137) (127,767) (2,720,554) (2,555,438)
-------------- -------------- -------------- -------------- -------------- --------------
Units end of year.................. 25,218,819 25,649,785 645,393 710,775 11,015,597 10,866,190
============== ============== ============== ============== ============== ==============
MSF MSCI EAFE INDEX MSF NEUBERGER BERMAN GENESIS MSF RUSSELL 2000 INDEX
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------- ------------------------------ ------------------------------
2016 2015 2016 2015 2016 2015
--------------- -------------- -------------- -------------- -------------- --------------
Units beginning of year............ 8,770,551 8,697,532 6,339,117 7,109,782 5,516,806 5,807,014
Units issued and transferred
from other funding options...... 1,618,760 2,367,341 394,983 596,532 1,136,668 1,423,551
Units redeemed and transferred to
other funding options........... (1,204,121) (2,294,322) (1,263,301) (1,367,197) (1,521,548) (1,713,759)
--------------- -------------- -------------- -------------- -------------- --------------
Units end of year.................. 9,185,190 8,770,551 5,470,799 6,339,117 5,131,926 5,516,806
=============== ============== ============== ============== ============== ==============
MSF T. ROWE PRICE MSF T. ROWE PRICE
LARGE CAP GROWTH SMALL CAP GROWTH
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- -------------- ---------------
Units beginning of year.......... 19,853,858 15,015,374 373,434 321,073
Units issued and transferred
from other funding options.... 4,964,805 10,061,304 86,909 125,375
Units redeemed and transferred to
other funding options......... (7,815,594) (5,222,820) (86,424) (73,014)
--------------- --------------- -------------- ---------------
Units end of year................ 17,003,069 19,853,858 373,919 373,434
=============== =============== ============== ===============
MSF VAN ECK MSF WESTERN ASSET MANAGEMENT
GLOBAL NATURAL RESOURCES STRATEGIC BOND OPPORTUNITIES
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- --------------- -------------- ---------------
Units beginning of year.......... 8,336,502 6,586,665 6,545 398
Units issued and transferred
from other funding options.... 1,877,875 3,338,775 37,011,107 6,964
Units redeemed and transferred to
other funding options......... (3,289,485) (1,588,938) (4,165,558) (817)
--------------- --------------- -------------- ---------------
Units end of year................ 6,924,892 8,336,502 32,852,094 6,545
=============== =============== ============== ===============
MSF WESTERN ASSET MANAGEMENT
U.S. GOVERNMENT NEUBERGER BERMAN GENESIS
SUB-ACCOUNT SUB-ACCOUNT
------------------------------- -------------------------------
2016 2015 2016 2015
--------------- -------------- -------------- ---------------
Units beginning of year.......... 15,069,560 15,346,536 317 393
Units issued and transferred
from other funding options.... 2,544,781 2,489,463 -- 75
Units redeemed and transferred to
other funding options......... (3,487,731) (2,766,439) (71) (151)
--------------- -------------- -------------- ---------------
Units end of year................ 14,126,610 15,069,560 246 317
=============== ============== ============== ===============
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
116
117
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
7. SCHEDULES OF UNITS -- (CONCLUDED)
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015:
OPPENHEIMER VA OPPENHEIMER VA
OPPENHEIMER VA CORE BOND GOVERNMENT MONEY MAIN STREET SMALL CAP
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------ ------------------------------- ------------------------------
2016 2015 2016 2015 2016 2015
-------------- -------------- --------------- -------------- -------------- --------------
Units beginning of year............ 1,226 1,362 668 696 4,053,883 4,346,502
Units issued and transferred
from other funding options...... -- -- -- -- 221,945 290,602
Units redeemed and transferred to
other funding options........... (305) (136) (28) (28) (591,746) (583,221)
-------------- -------------- --------------- -------------- -------------- --------------
Units end of year.................. 921 1,226 640 668 3,684,082 4,053,883
============== ============== =============== ============== ============== ==============
PIMCO VIT
COMMODITYREALRETURN PIMCO VIT
OPPENHEIMER VA MAIN STREET STRATEGY EMERGING MARKETS BOND
SUB-ACCOUNT SUB-ACCOUNT SUB-ACCOUNT
------------------------------ ------------------------------- ------------------------------
2016 2015 2016 2015 2016 2015
-------------- -------------- --------------- -------------- -------------- --------------
Units beginning of year............ 12,936 13,372 39,333 1,515 44,282 1,592
Units issued and transferred
from other funding options...... -- 575 34,303 42,876 31,172 46,798
Units redeemed and transferred to
other funding options........... (1,444) (1,011) (8,999) (5,058) (12,465) (4,108)
-------------- -------------- --------------- -------------- -------------- --------------
Units end of year.................. 11,492 12,936 64,637 39,333 62,989 44,282
============== ============== =============== ============== ============== ==============
PIMCO VIT UNCONSTRAINED BOND PIONEER VCT MID CAP VALUE
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- -------------------------------
2016 2015 2016 2015
--------------- -------------- -------------- ---------------
Units beginning of year.......... 29,245 478 1,461,366 1,581,277
Units issued and transferred
from other funding options.... 38,838 30,612 102,546 123,362
Units redeemed and transferred to
other funding options......... (11,660) (1,845) (221,594) (243,273)
--------------- -------------- -------------- ---------------
Units end of year................ 56,423 29,245 1,342,318 1,461,366
=============== ============== ============== ===============
PIONEER VCT REAL ESTATE SHARES T. ROWE PRICE GOVERNMENT MONEY
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- --------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- ---------------
Units beginning of year.......... 8,230 8,772 28,754 29,487
Units issued and transferred
from other funding options.... 922 881 12,932 26,424
Units redeemed and transferred to
other funding options......... (884) (1,423) (10,600) (27,157)
--------------- --------------- --------------- ---------------
Units end of year................ 8,268 8,230 31,086 28,754
=============== =============== =============== ===============
T. ROWE PRICE GROWTH STOCK T. ROWE PRICE INTERNATIONAL STOCK
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- ----------------------------------
2016 2015 2016 2015
--------------- --------------- --------------- ---------------
Units beginning of year.......... 44,692 52,254 27,270 39,998
Units issued and transferred
from other funding options.... 2,085 5,247 898 8,179
Units redeemed and transferred to
other funding options......... (6,510) (12,809) (3,498) (20,907)
--------------- --------------- --------------- ---------------
Units end of year................ 40,267 44,692 24,670 27,270
=============== =============== =============== ===============
TAP 1919 VARIABLE
SOCIALLY RESPONSIVE BALANCED UIF GLOBAL INFRASTRUCTURE
SUB-ACCOUNT SUB-ACCOUNT
-------------------------------- ---------------------------------
2016 2015 2016 2015
--------------- --------------- ---------------- ---------------
Units beginning of year.......... 5,634 6,406 32,371 664
Units issued and transferred
from other funding options.... 152 657 15,667 33,687
Units redeemed and transferred to
other funding options......... (2,220) (1,429) (6,364) (1,980)
--------------- --------------- ---------------- ---------------
Units end of year................ 3,566 5,634 41,674 32,371
=============== =============== ================ ===============
VANECK VIP LONG/SHORT
EQUITY INDEX
SUB-ACCOUNT
---------------------------------
2016 2015
--------------- ----------------
Units beginning of year.......... 26,997 1,662
Units issued and transferred
from other funding options.... 28,392 27,896
Units redeemed and transferred to
other funding options......... (8,246) (2,561)
--------------- ----------------
Units end of year................ 47,143 26,997
=============== ================
(a) Commenced November 19, 2014 and began transactions in 2015.
(b) For the period May 1, 2015 to December 31, 2015.
118
119
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS
The Company sells a number of variable annuity products which have unique
combinations of features and fees, some of which directly affect the unit
values of the Sub-Accounts. Differences in the fee structures result in a
variety of unit values, expense ratios, and total returns.
The following table is a summary of unit values and units outstanding for the
Contracts, net investment income ratios, and expense ratios, excluding expenses
for the underlying portfolio, series or fund, for the respective stated periods
in the five years ended December 31, 2016:
AS OF DECEMBER 31
----------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
------------ ---------------- --------------
Alger Small Cap Growth 2016 3,200,478 14.26 - 14.61 46,089,499
Sub-Account 2015 3,508,832 13.61 - 13.92 48,208,209
2014 3,970,857 14.28 - 14.58 57,195,868
2013 4,387,118 14.41 - 14.70 63,772,199
2012 4,795,545 10.89 - 11.09 52,626,085
American Funds Bond 2016 7,293,353 9.80 - 19.73 132,721,070
Sub-Account 2015 8,159,989 16.20 - 19.35 146,511,985
2014 8,333,829 16.47 - 19.48 151,245,946
2013 8,361,945 15.94 - 18.68 146,158,351
2012 7,687,811 16.60 - 19.27 139,213,016
American Funds Global 2016 6,980,723 13.31 - 44.38 277,038,594
Growth Sub-Account 2015 7,480,782 34.27 - 44.51 300,649,358
2014 8,193,931 32.79 - 42.00 312,209,187
2013 8,333,553 32.79 - 41.42 314,826,203
2012 8,485,913 25.98 - 32.35 251,295,328
American Funds Global Small 2016 2,939,876 12.70 - 40.30 106,488,578
Capitalization Sub-Account 2015 3,123,694 12.77 - 39.82 113,155,266
2014 3,297,014 13.05 - 40.07 122,112,070
2013 3,375,743 33.79 - 39.59 124,184,003
2012 3,385,796 26.85 - 31.14 98,386,346
American Funds Growth 2016 2,741,584 200.05 - 318.18 724,894,313
Sub-Account 2015 3,075,557 186.96 - 293.21 754,095,254
2014 3,527,704 179.03 - 276.84 821,201,132
2013 3,937,244 168.83 - 257.41 856,560,204
2012 4,113,319 132.79 - 199.62 696,665,988
American Funds 2016 2,163,637 15.56 - 219.23 363,982,389
Growth-Income Sub-Account 2015 2,179,793 126.48 - 198.34 358,450,579
2014 2,378,568 127.56 - 197.24 390,905,716
2013 2,581,885 117.99 - 179.88 388,319,990
2012 2,745,842 90.43 - 135.94 312,823,451
BlackRock Global Allocation 2016 123,935 20.06 - 21.99 2,582,039
V.I. Sub-Account 2015 77,369 19.63 - 21.37 1,566,871
(Commenced 11/19/2014) 2014 402 21.30 8,557
Deutsche I CROCI 2016 1,416,905 6.42 - 7.94 11,250,311
International Sub-Account 2015 1,563,760 7.92 - 7.99 12,496,599
2014 1,732,959 8.50 - 8.57 14,851,303
2013 1,888,612 9.76 - 9.85 18,592,794
2012 2,040,232 8.24 - 8.30 16,933,216
FOR THE YEAR ENDED DECEMBER 31
--------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- -----------------
Alger Small Cap Growth 2016 -- 1.25 - 1.40 4.76 - 4.92
Sub-Account 2015 -- 1.25 - 1.40 (4.66) - (4.52)
2014 -- 1.25 - 1.40 (0.96) - (0.81)
2013 -- 1.25 - 1.40 32.40 - 32.59
2012 -- 1.25 - 1.40 10.93 - 11.09
American Funds Bond 2016 1.64 0.95 - 1.90 (1.68) - 1.97
Sub-Account 2015 1.68 0.95 - 1.90 (1.61) - (0.67)
2014 1.94 0.95 - 1.90 3.30 - 4.28
2013 1.84 0.95 - 1.90 (4.00) - (3.08)
2012 2.64 0.95 - 1.90 3.38 - 4.37
American Funds Global 2016 0.91 0.90 - 2.30 (1.67) - 2.43
Growth Sub-Account 2015 0.99 0.90 - 2.30 4.51 - 5.98
2014 1.16 0.90 - 2.30 (0.01) - 1.40
2013 1.26 0.90 - 2.30 26.24 - 28.02
2012 0.94 0.90 - 2.30 7.06 - 21.40
American Funds Global Small 2016 0.25 0.89 - 1.90 0.18 - 2.23
Capitalization Sub-Account 2015 -- 0.89 - 1.90 (6.47) - (0.62)
2014 0.12 0.89 - 1.90 0.20 - 1.67
2013 0.87 0.89 - 1.90 25.87 - 27.14
2012 1.35 0.89 - 1.90 2.91 - 17.13
American Funds Growth 2016 0.76 0.89 - 2.30 7.00 - 8.52
Sub-Account 2015 0.58 0.89 - 2.30 4.43 - 5.91
2014 0.77 0.89 - 2.30 6.04 - 7.55
2013 0.93 0.89 - 2.30 27.15 - 28.95
2012 0.81 0.89 - 2.30 1.85 - 16.84
American Funds 2016 1.47 0.89 - 2.30 6.81 - 10.53
Growth-Income Sub-Account 2015 1.28 0.89 - 2.30 (0.85) - 0.56
2014 1.27 0.89 - 2.30 8.12 - 9.65
2013 1.35 0.89 - 2.30 30.47 - 32.32
2012 1.64 0.89 - 2.30 14.80 - 16.44
BlackRock Global Allocation 2016 1.55 0.90 - 1.60 2.16 - 2.87
V.I. Sub-Account 2015 2.16 0.90 - 1.60 (5.15) - (0.44)
(Commenced 11/19/2014) 2014 2.13 1.10 (0.45)
Deutsche I CROCI 2016 10.65 0.89 - 1.40 (0.66) - (0.15)
International Sub-Account 2015 4.14 1.35 - 1.40 (6.80) - (6.75)
2014 1.76 1.35 - 1.40 (12.99) - (12.95)
2013 5.30 1.35 - 1.40 18.56 - 18.62
2012 2.19 1.35 - 1.40 18.96 - 19.02
120
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31 FOR THE YEAR ENDED DECEMBER 31
-------------------------------------------- -------------------------------------------------
UNIT VALUE INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
LOWEST TO NET INCOME LOWEST TO LOWEST TO
UNITS HIGHEST ($) ASSETS ($) RATIO (%) HIGHEST (%) HIGHEST (%)
------------ --------------- ------------- ------------- ---------------- ----------------
Federated High Income Bond 2016 2,435 11.32 27,574 6.17 1.40 13.22
Sub-Account 2015 2,503 10.00 25,030 5.62 1.40 (3.93)
2014 2,534 10.41 26,376 5.88 1.40 1.26
2013 2,545 10.28 26,166 6.76 1.40 5.50
2012 2,556 9.74 24,908 8.87 1.40 13.09
Federated Kaufman 2016 5,331 8.93 47,589 -- 1.40 2.22
Sub-Account 2015 5,491 8.73 47,958 -- 1.40 4.90
2014 5,676 8.33 47,253 -- 1.40 8.19
2013 5,836 7.70 44,907 -- 1.40 38.18
2012 6,002 5.57 33,424 -- 1.40 15.65
Fidelity VIP Asset Manager 2016 4,493,375 15.61 - 16.70 70,694,332 1.45 0.89 - 1.40 1.64 - 2.16
Sub-Account 2015 4,920,853 15.35 - 16.34 76,132,122 1.53 0.89 - 1.40 (1.25) - (0.75)
2014 5,426,360 15.54 - 16.47 84,977,763 1.47 0.89 - 1.40 4.36 - 4.90
2013 5,885,530 14.88 - 15.70 88,274,483 1.55 0.89 - 1.40 14.10 - 14.68
2012 6,517,939 13.04 - 13.69 85,640,352 1.49 0.89 - 1.40 10.91 - 11.48
Fidelity VIP Contrafund 2016 21,259,478 6.55 - 75.90 573,685,439 0.74 0.89 - 2.25 5.15 - 7.05
Sub-Account 2015 21,653,047 6.17 - 71.00 581,923,231 0.94 0.89 - 2.25 (1.68) - (0.22)
2014 20,382,633 6.24 - 71.28 631,948,733 0.89 0.89 - 2.25 9.33 - 10.95
2013 17,717,451 5.67 - 64.36 611,972,926 1.04 0.89 - 2.25 10.23 - 30.12
2012 15,604,750 12.42 - 49.54 471,113,726 1.36 0.89 - 2.25 13.71 - 15.38
Fidelity VIP Equity-Income 2016 230,181 20.60 4,741,279 2.16 1.40 16.38
Sub-Account 2015 280,187 17.70 4,959,137 3.11 1.40 (5.30)
2014 303,711 18.69 5,676,328 2.75 1.40 7.21
2013 341,560 17.43 5,954,600 2.41 1.40 26.37
2012 400,352 13.80 5,523,241 2.96 1.40 15.67
Fidelity VIP FundsManager 2016 339,562,460 13.13 - 13.34 4,491,693,357 1.24 1.90 - 2.05 2.11 - 2.26
50% Sub-Account 2015 340,402,591 12.86 - 13.05 4,406,702,675 1.25 1.90 - 2.05 (1.89) - (1.75)
(Commenced 7/23/2012) 2014 268,426,412 13.11 - 13.28 3,538,458,593 1.45 1.90 - 2.05 2.96 - 3.12
2013 158,954,030 12.73 - 12.88 2,033,793,788 1.55 1.90 - 2.05 12.57 - 12.74
2012 39,080,828 11.31 - 11.42 443,823,085 2.69 1.90 - 2.05 1.76 - 4.11
Fidelity VIP FundsManager 2016 250,989,708 12.56 - 12.74 3,173,600,531 1.14 1.90 - 2.05 2.66 - 2.82
60% Sub-Account 2015 299,646,067 12.24 - 12.39 3,688,709,449 1.05 1.90 - 2.05 (1.63) - (1.48)
2014 319,425,019 12.44 - 12.58 3,994,437,491 1.24 1.90 - 2.05 3.27 - 3.42
2013 333,151,686 12.05 - 12.16 4,031,523,824 1.16 1.90 - 2.05 16.21 - 16.38
2012 345,636,001 10.37 - 10.45 3,596,633,088 1.53 1.90 - 2.05 9.33 - 9.49
Fidelity VIP Government 2016 2,758,925 6.77 - 10.16 18,955,221 0.18 0.89 - 2.05 (1.85) - (0.68)
Money Market Sub-Account 2015 5,764,747 6.85 - 10.34 49,654,013 0.02 0.89 - 2.05 (2.02) - (0.86)
2014 5,894,288 6.95 - 10.53 50,947,648 0.01 0.89 - 2.05 (2.02) - (0.88)
2013 8,307,410 7.04 - 10.73 76,155,346 0.02 0.89 - 2.05 (2.01) - (0.86)
2012 8,041,430 7.14 - 10.94 73,659,399 0.12 0.89 - 2.05 (1.93) - (0.76)
Fidelity VIP Growth 2016 6,179,280 23.17 - 24.67 144,530,563 0.04 0.89 - 1.40 (0.60) - (0.09)
Sub-Account 2015 6,842,558 23.31 - 24.69 160,925,919 0.25 0.89 - 1.40 5.68 - 6.23
2014 7,538,876 22.06 - 23.24 167,673,930 0.18 0.89 - 1.40 9.75 - 10.31
2013 8,194,380 20.10 - 21.07 165,968,439 0.29 0.89 - 1.40 34.44 - 35.13
2012 9,085,626 14.95 - 15.59 136,799,312 0.59 0.89 - 1.40 13.09 - 13.67
121
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31
----------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
------------ ---------------- --------------
Fidelity VIP Index 500 2016 2,222,100 27.86 - 29.74 61,915,726
Sub-Account 2015 2,464,560 25.24 - 26.83 62,224,177
2014 2,778,454 25.25 - 26.71 70,165,982
2013 3,091,556 22.53 - 23.73 69,677,247
2012 3,530,426 17.27 - 18.10 60,984,620
Fidelity VIP Mid Cap 2016 6,382,115 58.33 - 69.23 409,695,192
Sub-Account 2015 6,898,177 53.12 - 62.44 401,284,587
2014 7,445,624 55.03 - 64.08 446,277,693
2013 7,792,671 52.90 - 61.01 446,581,942
2012 7,598,912 39.68 - 45.33 324,832,892
Fidelity VIP Overseas 2016 333,151 10.84 - 12.36 3,832,068
Sub-Account 2015 376,022 11.55 - 13.19 4,615,792
2014 411,275 11.28 - 12.89 4,942,746
2013 447,143 12.41 - 14.19 5,925,521
2012 509,517 9.62 - 11.02 5,241,037
FTVIPT Franklin Income VIP 2016 4,031,843 50.36 - 72.41 260,175,136
Sub-Account 2015 4,415,184 45.17 - 64.11 253,302,116
2014 4,717,186 49.71 - 69.63 294,909,928
2013 4,919,666 48.59 - 67.20 297,821,470
2012 4,708,870 43.62 - 59.54 253,164,341
FTVIPT Franklin Mutual 2016 4,164,982 29.15 - 35.30 134,905,092
Shares VIP Sub-Account 2015 4,536,450 25.60 - 30.71 128,211,487
2014 5,080,687 27.45 - 32.61 153,109,223
2013 5,477,366 26.11 - 30.73 156,078,571
2012 5,768,385 20.75 - 24.19 129,780,562
FTVIPT Franklin Small Cap 2016 7,878,700 1.69 - 39.24 128,270,987
Value VIP Sub-Account 2015 8,783,442 1.31 - 13.07 110,998,636
2014 9,145,054 1.42 - 14.25 126,502,556
2013 9,184,423 13.56 - 14.30 128,048,983
2012 8,321,925 10.13 - 10.60 86,296,073
FTVIPT Templeton Foreign 2016 2,245,781 13.71 - 32.34 68,504,762
VIP Sub-Account 2015 2,282,942 13.03 - 30.69 66,002,305
2014 2,354,783 14.19 - 33.39 73,607,780
2013 2,457,017 16.25 - 38.21 87,721,293
2012 2,730,167 13.46 - 31.61 80,788,377
FTVIPT Templeton Global 2016 11,303,555 17.42 - 20.30 213,840,331
Bond VIP Sub-Account 2015 11,945,145 17.38 - 19.91 222,633,715
2014 12,667,617 18.48 - 21.01 250,150,012
2013 12,950,902 18.47 - 20.82 254,683,414
2012 11,067,808 18.50 - 20.69 217,063,429
Invesco V.I. American 2016 1,514 8.25 12,495
Franchise Sub-Account 2015 1,825 8.19 14,936
2014 1,911 7.90 15,107
2013 22,147 7.39 163,713
2012 28,015 5.35 149,862
FOR THE YEAR ENDED DECEMBER 31
--------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- -----------------
Fidelity VIP Index 500 2016 1.44 0.89 - 1.35 10.36 - 10.87
Sub-Account 2015 1.93 0.89 - 1.35 (0.02) - 0.44
2014 1.59 0.89 - 1.35 12.05 - 12.56
2013 1.84 0.89 - 1.35 30.47 - 31.07
2012 2.03 0.89 - 1.35 14.35 - 14.88
Fidelity VIP Mid Cap 2016 0.31 0.95 - 1.90 6.93 - 10.87
Sub-Account 2015 0.25 0.95 - 1.90 (3.48) - (2.56)
2014 0.02 0.95 - 1.90 4.04 - 5.03
2013 0.28 0.95 - 1.90 33.31 - 34.59
2012 0.43 0.95 - 1.90 12.40 - 13.47
Fidelity VIP Overseas 2016 1.38 1.15 - 1.40 (6.38) - (6.15)
Sub-Account 2015 1.31 1.15 - 1.40 2.18 - 2.44
2014 1.29 1.15 - 1.40 (9.36) - (9.13)
2013 1.34 1.15 - 1.40 28.62 - 28.95
2012 1.97 1.15 - 1.40 19.05 - 19.35
FTVIPT Franklin Income VIP 2016 4.98 0.95 - 2.25 8.00 - 12.95
Sub-Account 2015 4.62 0.95 - 2.25 (9.12) - (7.93)
2014 4.98 0.95 - 2.25 2.29 - 3.63
2013 6.33 0.95 - 2.25 11.41 - 12.86
2012 6.44 0.95 - 2.25 10.13 - 11.58
FTVIPT Franklin Mutual 2016 1.98 0.95 - 1.90 10.51 - 14.96
Shares VIP Sub-Account 2015 3.00 0.95 - 1.90 (6.73) - (5.84)
2014 2.00 0.95 - 1.90 5.11 - 6.11
2013 2.10 0.95 - 1.90 25.85 - 27.05
2012 2.06 0.95 - 1.90 12.08 - 13.16
FTVIPT Franklin Small Cap 2016 0.82 0.95 - 1.80 19.18 - 28.96
Value VIP Sub-Account 2015 0.63 0.95 - 1.75 (8.99) - (8.26)
2014 0.61 0.95 - 1.75 (1.17) - (0.38)
2013 1.31 0.95 - 1.75 33.88 - 34.95
2012 0.78 0.95 - 1.75 16.32 - 17.26
FTVIPT Templeton Foreign 2016 1.95 1.55 - 2.30 4.74 - 5.53
VIP Sub-Account 2015 3.23 1.55 - 2.30 (8.62) - (7.93)
2014 1.86 1.55 - 2.30 (13.15) - (12.50)
2013 2.38 1.55 - 2.30 20.18 - 21.08
2012 3.02 1.55 - 2.30 15.53 - 16.41
FTVIPT Templeton Global 2016 -- 0.95 - 1.80 1.15 - 2.04
Bond VIP Sub-Account 2015 7.91 0.95 - 1.75 (5.97) - (5.21)
2014 5.11 0.95 - 1.75 0.07 - 0.87
2013 4.75 0.95 - 1.75 (0.13) - 0.67
2012 6.42 0.95 - 1.75 13.06 - 13.97
Invesco V.I. American 2016 -- 1.40 0.85
Franchise Sub-Account 2015 -- 1.40 3.55
2014 -- 1.40 6.93
2013 0.42 1.40 38.19
2012 -- 1.40 12.14
122
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31
---------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
------------ --------------- --------------
Invesco V.I. Core Equity 2016 25,350 6.75 171,207
Sub-Account 2015 27,589 6.21 171,366
2014 34,703 6.68 231,978
2013 39,835 6.27 249,696
2012 49,005 4.92 241,009
Invesco V.I. Equity and 2016 27,024,285 7.16 - 25.65 654,269,917
Income Sub-Account 2015 28,966,281 6.30 - 22.55 619,311,840
2014 30,622,887 6.54 - 23.37 681,211,301
2013 31,328,255 6.09 - 21.69 649,322,698
2012 29,563,858 4.93 - 17.54 496,945,594
Invesco V.I. Growth and 2016 87 11.74 1,017
Income Sub-Account 2015 654 9.95 6,509
2014 665 10.41 6,927
2013 13,799,854 9.57 - 36.41 365,970,613
2012 13,407,203 7.24 - 27.48 268,230,013
Invesco V.I. International 2016 8,293,250 8.57 - 32.43 243,849,630
Growth Sub-Account 2015 8,534,492 8.74 - 32.97 256,390,780
2014 8,820,511 9.07 - 34.18 275,880,972
2013 8,901,354 9.17 - 34.47 281,999,206
2012 8,127,475 7.81 - 29.32 219,783,700
Ivy VIP Asset Strategy 2016 15,823 13.72 - 15.29 233,181
Sub-Account 2015 20,900 14.31 - 15.87 317,700
(Commenced 11/19/2014) 2014 2,575 16.67 - 17.51 45,023
LMPVET ClearBridge Variable 2016 10,932,298 16.82 - 30.24 293,536,621
Aggressive Growth 2015 11,091,987 16.99 - 30.16 300,878,534
Sub-Account 2014 11,333,726 17.67 - 30.99 316,448,933
2013 11,979,001 15.00 - 25.98 280,745,200
2012 11,687,754 10.38 - 17.75 186,988,862
LMPVET ClearBridge Variable 2016 7,615,066 10.51 - 62.23 405,981,554
Appreciation Sub-Account 2015 7,746,928 41.76 - 57.24 400,323,007
2014 8,268,721 42.06 - 56.87 426,519,441
2013 8,604,407 38.78 - 51.73 405,286,221
2012 7,908,912 30.52 - 40.17 290,191,379
LMPVET ClearBridge Variable 2016 8,906,934 14.51 - 24.31 200,725,348
Dividend Strategy 2015 9,391,848 12.92 - 21.38 186,422,315
Sub-Account 2014 9,796,222 13.81 - 22.59 205,573,482
2013 10,244,154 12.44 - 20.09 191,169,653
2012 9,055,914 10.11 - 16.14 134,931,130
LMPVET ClearBridge Variable 2016 121,433 23.83 - 27.67 3,173,371
Large Cap Growth 2015 156,000 22.70 - 26.15 3,887,858
Sub-Account 2014 200,379 21.16 - 24.18 4,631,601
2013 242,954 18.99 - 21.53 5,012,390
2012 283,429 14.10 - 15.86 4,312,254
FOR THE YEAR ENDED DECEMBER 31
-------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- ----------------
Invesco V.I. Core Equity 2016 0.76 1.40 8.73
Sub-Account 2015 1.05 1.40 (7.08)
2014 0.87 1.40 6.64
2013 1.36 1.40 27.45
2012 0.91 1.40 12.29
Invesco V.I. Equity and 2016 1.64 0.95 - 1.90 10.31 - 13.75
Income Sub-Account 2015 2.30 0.95 - 1.90 (4.42) - (3.51)
2014 1.58 0.95 - 1.90 6.72 - 7.74
2013 1.54 0.95 - 1.90 22.54 - 23.71
2012 1.85 0.95 - 1.90 10.26 - 11.32
Invesco V.I. Growth and 2016 0.58 1.40 18.03
Income Sub-Account 2015 2.94 1.40 (4.41)
2014 -- 1.40 8.75
2013 1.31 0.95 - 1.90 31.25 - 32.50
2012 1.36 0.95 - 1.90 12.18 - 13.26
Invesco V.I. International 2016 1.17 0.95 - 1.80 (4.75) - (1.64)
Growth Sub-Account 2015 1.28 0.95 - 1.75 (4.31) - (3.54)
2014 1.38 0.95 - 1.75 (1.65) - (0.86)
2013 1.10 0.95 - 1.75 16.66 - 17.60
2012 1.38 0.95 - 1.75 13.25 - 14.16
Ivy VIP Asset Strategy 2016 0.56 1.10 - 1.60 (4.11) - (3.63)
Sub-Account 2015 0.36 1.10 - 1.60 (9.80) - (9.35)
(Commenced 11/19/2014) 2014 -- 1.10 - 1.35 (2.27) - (2.24)
LMPVET ClearBridge Variable 2016 0.65 0.95 - 2.30 (1.10) - 4.06
Aggressive Growth 2015 0.35 0.95 - 2.30 (3.97) - (2.66)
Sub-Account 2014 0.17 0.95 - 2.30 17.66 - 19.26
2013 0.28 0.95 - 2.30 44.42 - 46.38
2012 0.43 0.95 - 2.30 16.01 - 17.60
LMPVET ClearBridge Variable 2016 1.32 0.95 - 2.30 4.49 - 8.73
Appreciation Sub-Account 2015 1.17 0.95 - 2.30 (0.71) - 0.64
2014 1.17 0.95 - 2.30 8.47 - 9.94
2013 1.29 0.95 - 2.30 27.05 - 28.77
2012 1.75 0.95 - 2.30 13.30 - 14.85
LMPVET ClearBridge Variable 2016 1.44 0.95 - 2.30 6.86 - 13.69
Dividend Strategy 2015 1.65 0.95 - 2.30 (6.48) - (5.34)
Sub-Account 2014 2.05 0.95 - 2.30 11.03 - 12.41
2013 1.65 0.95 - 2.30 23.08 - 24.49
2012 3.04 0.95 - 2.30 11.60 - 12.99
LMPVET ClearBridge Variable 2016 0.48 1.50 - 2.30 4.95 - 5.79
Large Cap Growth 2015 0.43 1.50 - 2.30 7.30 - 8.16
Sub-Account 2014 0.48 1.50 - 2.30 11.40 - 12.29
2013 0.51 1.50 - 2.30 34.72 - 35.80
2012 0.66 1.50 - 2.30 17.60 - 18.55
123
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31
---------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
------------ --------------- --------------
LMPVET ClearBridge Variable 2016 342,723 22.62 - 26.31 8,591,571
Large Cap Value Sub-Account 2015 333,277 20.49 - 23.64 7,518,321
2014 369,225 21.58 - 24.70 8,744,177
2013 319,601 19.77 - 22.45 6,892,954
2012 286,427 15.28 - 17.21 4,743,489
LMPVET ClearBridge Variable 2016 3,770,232 13.20 - 32.37 102,811,126
Small Cap Growth 2015 3,817,761 21.51 - 30.88 101,595,917
Sub-Account 2014 4,105,606 23.02 - 32.61 115,942,801
2013 4,102,827 22.63 - 31.63 112,499,020
2012 3,457,289 15.75 - 21.71 64,881,494
LMPVET EnTrust Permal 2016 1,428,689 9.02 - 9.16 12,975,771
Alternative Select VIT 2015 1,078,857 9.42 - 9.49 10,193,761
Sub-Account 2014 64,025 10.01 - 10.02 641,034
(Commenced 11/19/2014)
LMPVET QS Variable 2016 1,657,879 21.04 - 25.43 38,835,887
Conservative Growth 2015 1,731,301 19.96 - 23.89 38,239,774
Sub-Account 2014 1,866,299 20.59 - 24.41 42,335,472
2013 2,011,433 20.00 - 23.49 44,101,401
2012 1,699,443 17.68 - 20.56 32,620,028
LMPVET QS Variable Growth 2016 3,963,257 19.02 - 22.99 83,823,213
Sub-Account 2015 4,234,141 17.87 - 21.39 83,641,315
2014 4,529,329 18.63 - 22.09 92,760,220
2013 4,790,185 18.14 - 21.30 95,074,284
2012 5,015,187 14.61 - 17.00 79,817,339
LMPVET QS Variable Moderate 2016 45,938 19.03 - 20.61 921,078
Growth Sub-Account 2015 67,619 17.96 - 19.37 1,277,408
2014 98,417 18.64 - 20.02 1,923,838
2013 121,395 18.11 - 19.37 2,304,999
2012 162,342 15.15 - 16.14 2,573,509
LMPVIT Western Asset 2016 3,567,957 16.56 - 26.90 87,930,944
Variable Global High Yield 2015 4,003,585 18.50 - 23.49 86,641,483
Bond Sub-Account 2014 4,320,147 20.11 - 25.19 100,641,688
2013 4,386,878 20.82 - 25.72 104,740,451
2012 4,039,328 20.05 - 24.44 91,771,912
MFS VIT Investors Trust 2016 1,033 8.55 8,827
Sub-Account 2015 1,112 7.98 8,875
2014 1,191 8.08 9,619
2013 3,517 7.38 25,951
2012 3,616 5.67 20,488
MFS VIT New Discovery 2016 3,102 13.29 41,234
Sub-Account 2015 3,178 12.36 39,288
2014 3,178 12.78 40,607
2013 3,294 13.97 46,020
2012 4,161 10.01 41,661
FOR THE YEAR ENDED DECEMBER 31
-------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- ----------------
LMPVET ClearBridge Variable 2016 1.62 1.50 - 2.30 10.43 - 11.32
Large Cap Value Sub-Account 2015 1.41 1.50 - 2.30 (5.08) - (4.31)
2014 1.96 1.50 - 2.30 9.17 - 10.05
2013 1.77 1.50 - 2.30 29.36 - 30.40
2012 2.37 1.50 - 2.30 13.84 - 14.76
LMPVET ClearBridge Variable 2016 -- 0.95 - 2.30 3.40 - 9.41
Small Cap Growth 2015 -- 0.95 - 2.30 (6.55) - (5.28)
Sub-Account 2014 -- 0.95 - 2.30 1.71 - 3.09
2013 0.05 0.95 - 2.30 43.71 - 45.66
2012 0.42 0.95 - 2.30 16.70 - 18.29
LMPVET EnTrust Permal 2016 0.04 0.95 - 1.60 (4.17) - (3.54)
Alternative Select VIT 2015 1.46 0.95 - 1.60 (5.89) - (4.25)
Sub-Account 2014 0.57 1.10 - 1.60 (0.55) - (0.49)
(Commenced 11/19/2014)
LMPVET QS Variable 2016 2.42 0.95 - 1.90 5.41 - 6.42
Conservative Growth 2015 1.95 0.95 - 1.90 (3.05) - (2.12)
Sub-Account 2014 2.46 0.95 - 1.90 2.93 - 3.92
2013 2.21 0.95 - 1.90 13.16 - 14.24
2012 2.95 0.95 - 1.90 10.96 - 12.02
LMPVET QS Variable Growth 2016 1.45 0.95 - 1.90 6.46 - 7.47
Sub-Account 2015 1.33 0.95 - 1.90 (4.07) - (3.16)
2014 1.77 0.95 - 1.90 2.72 - 3.70
2013 1.66 0.95 - 1.90 24.12 - 25.30
2012 1.84 0.95 - 1.90 13.70 - 14.79
LMPVET QS Variable Moderate 2016 1.85 1.50 - 1.90 5.96 - 6.39
Growth Sub-Account 2015 1.47 1.50 - 1.90 (3.64) - (3.25)
2014 1.74 1.50 - 1.90 2.93 - 3.34
2013 1.41 1.50 - 1.90 19.53 - 20.01
2012 2.16 1.50 - 1.90 12.43 - 12.88
LMPVIT Western Asset 2016 6.08 0.95 - 2.30 8.61 - 14.51
Variable Global High Yield 2015 5.96 0.95 - 2.30 (7.98) - (6.73)
Bond Sub-Account 2014 7.11 0.95 - 2.30 (3.40) - (2.09)
2013 6.19 0.95 - 2.30 3.85 - 5.27
2012 7.84 0.95 - 2.30 15.62 - 17.20
MFS VIT Investors Trust 2016 0.86 1.40 7.08
Sub-Account 2015 0.92 1.40 (1.18)
2014 0.61 1.40 9.46
2013 1.10 1.40 30.22
2012 0.67 1.40 17.52
MFS VIT New Discovery 2016 -- 1.40 7.54
Sub-Account 2015 -- 1.40 (3.25)
2014 -- 1.40 (8.55)
2013 -- 1.40 39.55
2012 -- 1.40 19.53
124
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31
---------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
------------ --------------- --------------
MFS VIT Research Sub-Account 2016 2,377 9.09 21,608
2015 3,091 8.48 26,211
2014 3,115 8.53 26,571
2013 8,132 7.85 63,835
2012 8,335 6.02 50,155
MIST AB Global Dynamic 2016 252,960,506 11.77 - 12.78 3,143,878,353
Allocation Sub-Account 2015 263,678,991 11.63 - 12.45 3,205,371,897
2014 275,344,937 11.84 - 12.49 3,373,491,338
2013 286,256,086 11.32 - 11.74 3,313,674,192
2012 267,334,005 10.40 - 10.66 2,823,843,417
MIST Allianz Global 2016 79,436,316 1.00 - 10.44 82,224,138
Investors Dynamic 2015 59,800,997 1.00 - 10.35 60,867,062
Multi-Asset Plus 2014 18,219,524 1.04 - 10.55 18,986,456
Sub-Account
(Commenced 4/28/2014)
MIST American Funds 2016 234,371,003 12.52 - 14.20 3,152,567,972
Balanced Allocation 2015 246,263,553 11.89 - 13.29 3,117,922,583
Sub-Account 2014 264,143,945 12.26 - 13.41 3,417,834,574
2013 276,830,535 11.83 - 12.78 3,430,387,038
2012 292,605,761 10.22 - 10.89 3,106,060,329
MIST American Funds Growth 2016 128,517,470 12.68 - 14.39 1,744,990,829
Allocation Sub-Account 2015 137,469,623 11.92 - 13.12 1,740,439,216
2014 142,940,560 12.29 - 13.37 1,852,260,667
2013 147,794,512 11.83 - 12.67 1,828,322,375
2012 149,020,463 9.68 - 10.24 1,496,665,592
MIST American Funds Growth 2016 77,428,972 1.55 - 16.08 654,182,440
Sub-Account 2015 77,730,599 1.44 - 14.88 640,713,098
2014 71,860,704 1.37 - 13.78 648,671,484
2013 59,593,818 1.29 - 12.90 632,386,636
2012 54,812,434 9.59 - 10.07 545,665,799
MIST American Funds 2016 121,315,385 12.19 - 13.83 1,590,453,756
Moderate Allocation 2015 126,162,585 11.66 - 13.04 1,567,578,863
Sub-Account 2014 137,310,606 12.03 - 13.16 1,744,157,123
2013 147,773,215 11.61 - 12.53 1,796,366,977
2012 159,499,085 10.47 - 11.15 1,734,325,945
MIST AQR Global Risk 2016 221,364,216 9.79 - 11.01 2,395,534,199
Balanced Sub-Account 2015 241,508,750 9.10 - 10.21 2,431,541,679
2014 265,908,083 10.20 - 11.40 3,001,302,195
2013 295,108,196 9.93 - 11.09 3,248,475,977
2012 324,843,850 10.42 - 11.61 3,753,309,463
MIST BlackRock Global 2016 421,174,334 11.24 - 12.21 4,999,248,698
Tactical Strategies 2015 445,213,023 11.02 - 11.80 5,128,182,508
Sub-Account 2014 463,962,556 11.30 - 11.92 5,423,637,032
2013 487,574,727 10.92 - 11.35 5,457,878,761
2012 471,913,542 10.13 - 10.38 4,856,824,935
FOR THE YEAR ENDED DECEMBER 31
--------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- -----------------
MFS VIT Research Sub-Account 2016 0.78 1.40 7.22
2015 0.73 1.40 (0.60)
2014 0.79 1.40 8.67
2013 0.33 1.40 30.45
2012 0.79 1.40 15.63
MIST AB Global Dynamic 2016 1.58 0.90 - 2.35 (0.62) - 2.67
Allocation Sub-Account 2015 3.28 0.90 - 2.35 (1.76) - (0.32)
2014 1.94 0.90 - 2.35 0.77 - 6.39
2013 1.28 0.90 - 2.35 8.56 - 10.15
2012 0.10 0.90 - 2.35 3.45 - 8.82
MIST Allianz Global 2016 0.05 0.90 - 2.15 (0.69) - 1.08
Investors Dynamic 2015 1.61 1.10 - 2.15 (3.09) - (2.07)
Multi-Asset Plus 2014 0.92 1.15 - 2.00 0.71 - 4.55
Sub-Account
(Commenced 4/28/2014)
MIST American Funds 2016 1.62 0.90 - 2.35 2.90 - 6.84
Balanced Allocation 2015 1.40 0.90 - 2.35 (4.60) - (0.37)
Sub-Account 2014 1.27 1.00 - 2.35 (0.35) - 4.99
2013 1.37 1.00 - 2.35 15.78 - 17.35
2012 1.69 1.00 - 2.35 10.88 - 12.39
MIST American Funds Growth 2016 1.30 0.90 - 2.35 6.43 - 7.98
Allocation Sub-Account 2015 1.31 1.10 - 2.35 (5.94) - (0.25)
2014 1.03 1.10 - 2.35 (0.52) - 5.17
2013 1.00 1.15 - 2.35 22.20 - 23.68
2012 1.21 1.15 - 2.35 13.45 - 14.82
MIST American Funds Growth 2016 0.29 0.95 - 2.35 6.57 - 8.32
Sub-Account 2015 0.87 0.95 - 2.35 1.76 - 5.48
2014 0.55 0.95 - 2.35 0.56 - 7.16
2013 0.44 0.95 - 2.35 11.27 - 28.11
2012 0.33 1.30 - 2.35 14.67 - 15.89
MIST American Funds 2016 1.91 0.90 - 2.35 2.00 - 6.05
Moderate Allocation 2015 1.49 0.90 - 2.35 (3.52) - (0.45)
Sub-Account 2014 1.46 1.00 - 2.35 (0.26) - 5.04
2013 1.65 1.00 - 2.35 10.88 - 12.39
2012 2.04 1.00 - 2.35 8.25 - 9.73
MIST AQR Global Risk 2016 -- 0.90 - 2.35 2.44 - 7.98
Balanced Sub-Account 2015 5.51 0.90 - 2.35 (11.67) - (10.38)
2014 -- 0.90 - 2.35 (3.48) - 3.07
2013 2.09 0.90 - 2.35 (5.64) - (4.26)
2012 0.44 0.90 - 2.35 3.72 - 9.29
MIST BlackRock Global 2016 1.45 0.90 - 2.35 0.63 - 3.50
Tactical Strategies 2015 1.55 0.90 - 2.35 (2.43) - 0.11
Sub-Account 2014 1.12 0.90 - 2.35 (0.16) - 4.97
2013 1.36 0.90 - 2.35 7.75 - 9.32
2012 -- 0.90 - 2.35 3.27 - 7.89
125
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31
--------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
------------ --------------- -------------
MIST BlackRock High Yield 2016 8,860,074 16.19 - 31.14 231,879,405
Sub-Account 2015 9,031,674 14.40 - 27.56 210,920,401
2014 9,596,910 15.21 - 28.99 238,215,887
2013 10,783,682 14.92 - 28.32 265,149,806
2012 11,949,833 13.83 - 26.13 276,977,302
MIST Clarion Global Real 2016 14,214,001 16.13 - 70.52 263,186,597
Estate Sub-Account 2015 15,477,002 16.37 - 70.58 288,549,595
2014 17,245,897 17.00 - 72.26 330,178,643
2013 11,099,591 15.36 - 17.68 182,673,922
2012 10,967,900 15.19 - 17.23 177,317,957
MIST ClearBridge Aggressive 2016 31,716,282 12.20 - 205.91 461,921,010
Growth Sub-Account 2015 35,697,833 12.04 - 203.07 513,586,109
2014 38,472,258 12.71 - 214.41 586,572,505
2013 36,299,683 10.84 - 13.77 451,710,565
2012 33,802,849 7.55 - 9.54 292,871,764
MIST Goldman Sachs Mid Cap 2016 5,715,456 21.64 - 26.00 136,116,482
Value Sub-Account 2015 6,513,771 19.57 - 23.18 139,196,313
2014 7,477,599 22.05 - 25.19 178,512,669
2013 7,939,384 19.93 - 22.07 170,038,386
2012 8,486,283 15.38 - 16.85 139,211,779
MIST Harris Oakmark 2016 23,007,569 21.43 - 27.85 576,095,441
International Sub-Account 2015 25,339,005 20.23 - 25.80 595,542,818
2014 26,551,192 21.63 - 27.28 663,509,252
2013 25,769,452 23.43 - 29.23 693,983,244
2012 25,722,293 18.33 - 22.61 538,939,254
MIST Invesco Balanced-Risk 2016 818,076,929 1.09 - 11.62 940,598,161
Allocation Sub-Account 2015 749,414,346 1.00 - 10.52 777,069,714
(Commenced 4/30/2012) 2014 758,894,714 1.07 - 11.10 832,374,445
2013 800,860,953 1.04 - 1.06 843,160,697
2012 631,214,101 1.04 - 1.05 661,422,417
MIST Invesco Comstock 2016 36,743,760 16.14 - 26.27 742,413,375
Sub-Account 2015 39,951,458 14.08 - 22.61 699,284,637
2014 43,175,673 15.33 - 24.28 813,000,076
2013 26,889,264 14.36 - 22.42 443,561,923
2012 26,662,653 10.86 - 16.72 329,458,802
MIST Invesco Mid Cap Value 2016 7,068,224 1.84 - 43.07 268,931,465
Sub-Account 2015 7,308,379 1.61 - 37.62 244,281,850
2014 6,927,870 17.85 - 41.71 258,407,609
2013 4,619,902 30.27 - 38.39 158,040,375
2012 5,175,603 23.78 - 29.73 138,149,492
MIST Invesco Small Cap 2016 10,669,549 24.88 - 31.68 296,393,238
Growth Sub-Account 2015 11,537,860 22.84 - 28.61 291,887,925
2014 11,824,275 23.77 - 29.28 308,642,273
2013 13,003,134 22.53 - 27.31 319,189,345
2012 13,528,657 16.44 - 19.61 240,468,780
FOR THE YEAR ENDED DECEMBER 31
-------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- ----------------
MIST BlackRock High Yield 2016 6.73 0.90 - 2.35 7.19 - 12.96
Sub-Account 2015 8.07 0.90 - 2.35 (6.28) - (4.91)
2014 6.09 0.90 - 2.35 (1.88) - 2.37
2013 7.02 0.90 - 2.35 6.79 - 8.35
2012 7.05 0.90 - 2.35 7.68 - 15.15
MIST Clarion Global Real 2016 2.07 0.90 - 2.35 (4.89) - (0.03)
Estate Sub-Account 2015 3.81 0.90 - 2.35 (3.69) - 3.43
2014 1.03 0.90 - 2.35 1.03 - 12.25
2013 6.85 0.90 - 2.35 1.14 - 2.62
2012 2.03 0.90 - 2.35 9.18 - 24.35
MIST ClearBridge Aggressive 2016 0.40 0.90 - 2.35 0.30 - 1.76
Growth Sub-Account 2015 0.23 0.90 - 2.35 (6.27) - (4.69)
2014 0.11 0.90 - 2.35 1.60 - 17.83
2013 0.22 0.90 - 2.35 42.22 - 44.30
2012 0.02 0.90 - 2.35 3.28 - 17.38
MIST Goldman Sachs Mid Cap 2016 0.83 0.90 - 2.35 10.55 - 12.17
Value Sub-Account 2015 0.64 0.90 - 2.35 (11.23) - (4.37)
2014 0.54 1.10 - 2.35 2.29 - 11.77
2013 0.89 1.30 - 2.35 29.57 - 30.94
2012 0.59 1.30 - 2.35 15.36 - 16.58
MIST Harris Oakmark 2016 2.14 0.90 - 2.35 5.67 - 7.21
International Sub-Account 2015 3.01 0.95 - 2.35 (6.74) - (3.92)
2014 2.41 0.95 - 2.35 (7.98) - 0.25
2013 2.44 0.95 - 2.35 27.46 - 29.26
2012 1.63 0.95 - 2.35 15.61 - 27.58
MIST Invesco Balanced-Risk 2016 0.15 0.90 - 2.35 4.88 - 10.72
Allocation Sub-Account 2015 2.83 0.90 - 2.35 (6.43) - (0.67)
(Commenced 4/30/2012) 2014 -- 0.90 - 2.35 0.40 - 4.63
2013 -- 0.90 - 2.35 (0.50) - 0.95
2012 0.55 0.90 - 2.35 3.03 - 4.04
MIST Invesco Comstock 2016 2.53 0.90 - 2.35 12.17 - 16.25
Sub-Account 2015 2.88 0.90 - 2.35 (8.16) - (6.81)
2014 0.60 0.90 - 2.35 0.28 - 8.33
2013 1.07 0.90 - 2.35 32.25 - 34.18
2012 1.22 0.90 - 2.35 5.55 - 17.40
MIST Invesco Mid Cap Value 2016 0.63 0.90 - 2.35 9.67 - 14.47
Sub-Account 2015 0.45 0.90 - 2.35 (11.10) - (6.76)
2014 0.33 0.90 - 2.35 1.20 - 8.70
2013 0.74 0.90 - 2.35 27.28 - 29.14
2012 0.40 0.90 - 2.35 2.26 - 13.21
MIST Invesco Small Cap 2016 -- 0.89 - 2.35 8.71 - 10.73
Growth Sub-Account 2015 0.01 0.89 - 2.35 (3.99) - (2.29)
2014 -- 0.89 - 2.35 1.89 - 7.22
2013 0.23 0.89 - 2.35 36.92 - 39.29
2012 -- 0.89 - 2.35 15.47 - 17.45
126
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31
---------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
------------ --------------- --------------
MIST JPMorgan Core Bond 2016 31,064,359 9.84 - 11.16 339,144,828
Sub-Account 2015 31,401,600 9.78 - 11.06 340,682,787
2014 32,404,332 9.89 - 11.15 355,237,960
2013 29,439,490 10.12 - 10.75 311,869,932
2012 31,242,391 10.69 - 11.23 346,492,447
MIST JPMorgan Global Active 2016 848,098,850 1.17 - 12.50 1,042,207,011
Allocation Sub-Account 2015 828,919,735 1.16 - 12.26 1,000,785,200
(Commenced 4/30/2012) 2014 747,266,184 1.18 - 12.14 905,975,458
2013 649,853,969 1.13 - 1.16 746,849,717
2012 269,034,003 1.04 - 1.05 282,572,135
MIST JPMorgan Small Cap 2016 1,141,302 21.67 - 24.82 26,376,632
Value Sub-Account 2015 1,287,553 16.94 - 19.19 23,133,878
2014 1,417,944 18.69 - 20.92 27,932,500
2013 1,455,583 18.28 - 20.23 27,866,566
2012 1,643,159 14.04 - 15.36 24,014,976
MIST Loomis Sayles Global 2016 8,505,955 16.04 - 18.73 148,612,417
Markets Sub-Account 2015 9,530,128 15.68 - 17.95 161,399,211
2014 10,444,732 15.85 - 17.90 177,351,030
2013 10,842,823 15.69 - 17.47 180,595,781
2012 12,318,466 13.71 - 14.91 177,780,410
MIST Met/Aberdeen Emerging 2016 39,351,974 8.62 - 10.44 370,235,661
Markets Equity Sub-Account 2015 42,624,617 7.91 - 9.58 365,167,198
2014 42,182,331 9.40 - 11.38 425,619,386
2013 41,623,177 10.29 - 12.45 456,076,892
2012 38,352,212 11.09 - 13.41 448,693,258
MIST Met/Artisan 2016 27,485 8.41 - 8.57 233,690
International Sub-Account 2015 12,794 9.42 - 9.54 121,159
(Commenced 11/19/2014 and
began transactions in 2015)
MIST Met/Eaton Vance 2016 5,632,610 10.95 - 12.06 64,827,675
Floating Rate Sub-Account 2015 5,985,329 10.26 - 11.01 64,028,918
2014 6,743,439 10.59 - 11.23 73,909,210
2013 7,519,969 10.76 - 11.18 83,115,837
2012 5,007,151 10.61 - 10.91 54,197,004
MIST Met/Franklin Low 2016 14,680,889 9.44 - 10.25 144,974,836
Duration Total Return 2015 16,246,958 9.37 - 10.03 157,983,094
Sub-Account 2014 17,421,682 9.65 - 10.18 173,124,917
2013 14,050,793 9.78 - 10.16 140,307,146
2012 4,349,231 9.92 - 10.14 43,609,944
MIST Met/Templeton 2016 3,153,303 11.87 - 13.07 39,493,620
International Bond 2015 3,361,116 12.07 - 13.08 42,349,271
Sub-Account 2014 3,537,497 12.87 - 13.66 47,183,875
2013 3,905,329 13.00 - 13.53 52,286,139
2012 4,238,395 13.19 - 13.56 57,001,253
FOR THE YEAR ENDED DECEMBER 31
--------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- -----------------
MIST JPMorgan Core Bond 2016 2.78 0.90 - 2.20 0.01 - 1.31
Sub-Account 2015 2.33 0.90 - 2.20 (1.70) - (0.01)
2014 1.42 1.10 - 2.20 0.48 - 3.73
2013 0.28 1.30 - 2.35 (5.04) - (4.05)
2012 2.57 1.30 - 2.35 2.47 - 3.55
MIST JPMorgan Global Active 2016 2.12 0.90 - 2.35 0.12 - 1.98
Allocation Sub-Account 2015 2.71 0.90 - 2.35 (1.45) - 0.82
(Commenced 4/30/2012) 2014 1.13 0.90 - 2.35 0.35 - 6.02
2013 0.08 0.90 - 2.35 8.41 - 9.99
2012 0.73 0.90 - 2.35 3.02 - 4.03
MIST JPMorgan Small Cap 2016 1.84 0.90 - 2.30 27.88 - 29.34
Value Sub-Account 2015 1.35 0.90 - 2.30 (9.36) - (1.13)
2014 1.07 0.90 - 2.30 2.28 - 3.89
2013 0.69 0.90 - 2.30 30.22 - 31.71
2012 0.84 0.90 - 2.30 2.73 - 13.98
MIST Loomis Sayles Global 2016 1.67 0.90 - 2.35 1.78 - 3.84
Markets Sub-Account 2015 1.59 0.95 - 2.35 (1.12) - 0.27
2014 2.08 0.95 - 2.35 (0.82) - 2.49
2013 2.41 0.95 - 2.35 14.41 - 16.02
2012 2.32 1.10 - 2.35 2.75 - 15.41
MIST Met/Aberdeen Emerging 2016 0.97 0.90 - 2.35 (0.57) - 10.50
Markets Equity Sub-Account 2015 1.79 0.90 - 2.35 (15.82) - (2.68)
2014 0.84 0.90 - 2.35 (8.69) - (4.92)
2013 1.07 0.90 - 2.35 (7.19) - (5.83)
2012 0.75 0.90 - 2.35 3.96 - 17.77
MIST Met/Artisan 2016 0.99 0.90 - 1.60 (10.71) - (10.09)
International Sub-Account 2015 0.60 0.90 - 1.60 (9.11) - (4.55)
(Commenced 11/19/2014 and
began transactions in 2015)
MIST Met/Eaton Vance 2016 4.01 0.90 - 2.35 6.73 - 8.29
Floating Rate Sub-Account 2015 3.64 1.10 - 2.35 (3.14) - (1.92)
2014 3.65 1.10 - 2.35 (1.60) - (0.57)
2013 3.38 1.30 - 2.35 1.42 - 2.50
2012 3.39 1.30 - 2.35 4.83 - 5.94
MIST Met/Franklin Low 2016 2.90 0.90 - 2.35 0.74 - 2.21
Duration Total Return 2015 3.12 0.90 - 2.35 (2.93) - (1.51)
Sub-Account 2014 2.15 0.90 - 2.35 (1.29) - 0.15
2013 1.07 0.90 - 2.35 (1.19) - 0.25
2012 1.91 0.90 - 2.20 1.17 - 3.15
MIST Met/Templeton 2016 -- 0.95 - 2.20 (1.32) - (0.08)
International Bond 2015 8.17 0.95 - 2.15 (6.20) - 0.75
Sub-Account 2014 4.63 1.10 - 2.15 (2.28) - (0.17)
2013 2.02 1.30 - 2.15 (1.11) - (0.27)
2012 10.26 1.30 - 2.05 11.96 - 12.80
127
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31
---------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
------------ --------------- --------------
MIST Met/Wellington Large 2016 931,137 14.70 - 18.51 15,301,423
Cap Research Sub-Account 2015 1,013,512 13.89 - 17.26 15,616,983
2014 1,151,671 13.60 - 16.68 17,260,395
2013 1,260,254 12.25 - 14.84 16,869,650
2012 1,423,242 9.34 - 11.16 14,439,147
MIST MetLife Asset 2016 33,538,308 15.19 - 18.13 557,780,998
Allocation 100 Sub-Account 2015 37,143,227 14.27 - 16.78 575,818,048
2014 39,915,870 14.91 - 17.28 641,574,794
2013 42,451,280 14.53 - 16.59 659,971,504
2012 44,655,767 11.48 - 12.93 545,044,070
MIST MetLife Balanced Plus 2016 536,906,397 12.22 - 13.27 6,925,324,483
Sub-Account 2015 552,214,291 11.54 - 12.35 6,663,424,002
2014 569,859,186 12.32 - 13.00 7,268,454,132
2013 547,096,627 11.51 - 11.96 6,454,726,976
2012 438,994,467 10.30 - 10.55 4,593,209,415
MIST MetLife Multi-Index 2016 583,908,748 1.18 - 12.35 847,575,021
Targeted Risk Sub-Account 2015 435,062,012 1.15 - 11.96 633,831,341
(Commenced 11/12/2012) 2014 281,516,918 1.19 - 12.18 421,513,955
2013 153,950,143 1.12 - 11.26 209,957,052
2012 11,094,386 1.01 11,247,979
MIST MetLife Small Cap 2016 9,362,462 25.74 - 32.69 266,605,506
Value Sub-Account 2015 10,725,811 20.08 - 25.07 236,287,986
2014 12,299,087 21.73 - 26.68 291,013,900
2013 13,992,716 21.87 - 26.40 330,701,962
2012 15,859,523 16.91 - 20.06 287,540,317
MIST MFS Research 2016 16,956,442 13.02 - 17.53 247,879,900
International Sub-Account 2015 18,156,340 13.44 - 17.81 271,985,758
2014 18,585,662 14.00 - 18.24 287,913,009
2013 19,616,483 15.39 - 18.44 331,488,461
2012 21,667,563 13.21 - 15.60 311,615,422
MIST Morgan Stanley Mid Cap 2016 12,770,536 2.37 - 21.48 201,153,118
Growth Sub-Account 2015 12,648,258 2.62 - 23.62 220,460,412
2014 12,928,550 2.79 - 25.03 240,528,688
2013 13,099,903 2.79 - 24.94 244,579,234
2012 12,225,316 2.03 - 18.06 166,100,095
MIST Oppenheimer Global 2016 2,333,207 21.57 - 28.48 59,761,246
Equity Sub-Account 2015 2,520,098 22.02 - 28.67 65,266,488
2014 2,866,078 21.68 - 27.83 72,350,999
2013 3,127,720 21.72 - 27.49 78,398,573
2012 500,711 18.48 - 21.83 9,983,469
MIST PanAgora Global 2016 95,787,147 1.04 - 10.75 102,757,891
Diversified Risk Sub-Account 2015 21,772,279 0.95 - 9.78 21,123,770
(Commenced 4/28/2014) 2014 9,788,108 1.03 - 10.44 10,161,644
FOR THE YEAR ENDED DECEMBER 31
-------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- ----------------
MIST Met/Wellington Large 2016 2.26 0.90 - 2.30 5.83 - 7.22
Cap Research Sub-Account 2015 0.78 0.90 - 2.30 2.08 - 3.48
2014 0.80 0.90 - 2.30 1.80 - 12.40
2013 1.28 0.90 - 2.30 31.12 - 32.97
2012 1.07 0.90 - 2.30 (0.27) - 11.75
MIST MetLife Asset 2016 2.26 0.90 - 2.35 5.06 - 8.00
Allocation 100 Sub-Account 2015 1.29 0.90 - 2.35 (4.28) - (1.06)
2014 0.71 0.90 - 2.35 0.05 - 4.15
2013 0.75 0.90 - 2.35 26.50 - 28.35
2012 0.64 0.90 - 2.35 2.91 - 15.40
MIST MetLife Balanced Plus 2016 2.86 0.90 - 2.35 2.21 - 7.39
Sub-Account 2015 2.10 0.90 - 2.35 (6.32) - (4.95)
2014 1.75 0.90 - 2.35 0.70 - 8.67
2013 1.19 0.90 - 2.35 11.71 - 13.34
2012 -- 0.90 - 2.35 4.67 - 11.81
MIST MetLife Multi-Index 2016 1.29 0.90 - 2.25 0.17 - 3.43
Targeted Risk Sub-Account 2015 1.20 0.90 - 2.25 (3.41) - (2.10)
(Commenced 11/12/2012) 2014 -- 1.15 - 2.25 0.83 - 8.01
2013 0.55 1.15 - 2.25 4.04 - 11.65
2012 -- 1.15 - 2.00 2.56 - 2.68
MIST MetLife Small Cap 2016 1.06 0.89 - 2.35 28.21 - 30.39
Value Sub-Account 2015 0.10 0.89 - 2.35 (7.61) - (6.05)
2014 0.04 0.89 - 2.35 (0.65) - 1.06
2013 0.99 0.89 - 2.35 29.37 - 31.64
2012 -- 0.89 - 2.35 15.23 - 17.22
MIST MFS Research 2016 2.00 0.89 - 2.35 (3.18) - (1.55)
International Sub-Account 2015 2.71 0.89 - 2.35 (4.06) - (2.37)
2014 2.24 0.89 - 2.35 (9.11) - (3.46)
2013 2.58 0.90 - 2.35 16.49 - 18.19
2012 1.89 0.90 - 2.35 6.35 - 15.60
MIST Morgan Stanley Mid Cap 2016 -- 0.89 - 2.30 (10.54) - (2.08)
Growth Sub-Account 2015 -- 0.89 - 2.30 (7.18) - (5.63)
2014 -- 0.89 - 2.30 (1.40) - 0.39
2013 0.60 0.89 - 2.30 35.86 - 38.07
2012 -- 0.89 - 2.30 (4.93) - 8.58
MIST Oppenheimer Global 2016 0.92 0.90 - 2.30 (2.05) - (0.67)
Equity Sub-Account 2015 0.94 0.90 - 2.30 (1.50) - 3.00
2014 0.82 0.90 - 2.30 (0.31) - 1.23
2013 0.35 0.90 - 2.30 24.22 - 25.97
2012 1.40 0.90 - 1.95 8.80 - 19.84
MIST PanAgora Global 2016 3.34 0.90 - 2.20 2.13 - 10.13
Diversified Risk Sub-Account 2015 0.55 1.10 - 2.20 (7.53) - (6.51)
(Commenced 4/28/2014) 2014 0.46 1.15 - 2.00 (0.35) - 3.75
128
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31
--------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
----------- --------------- --------------
MIST PIMCO Inflation 2016 43,749,123 12.81 - 15.62 622,764,700
Protected Bond Sub-Account 2015 46,098,333 12.49 - 15.01 634,902,757
2014 50,751,209 13.20 - 15.63 732,596,404
2013 57,648,505 13.13 - 15.33 821,456,089
2012 64,013,091 14.82 - 17.05 1,021,039,296
MIST PIMCO Total Return 2016 84,045,933 12.44 - 20.10 1,446,213,216
Sub-Account 2015 91,772,688 12.26 - 19.72 1,561,823,561
2014 103,504,587 12.40 - 19.84 1,787,038,026
2013 118,419,838 12.03 - 19.16 1,993,786,948
2012 128,302,689 12.42 - 19.67 2,234,370,461
MIST Pyramis Government 2016 59,975,014 10.24 - 11.12 648,755,946
Income Sub-Account 2015 60,149,269 10.35 - 11.07 651,039,693
2014 62,286,953 10.55 - 11.13 680,446,278
2013 69,488,361 10.04 - 10.44 715,739,557
2012 88,599,553 10.77 - 11.03 968,887,238
MIST Pyramis Managed Risk 2016 36,164,251 1.18 - 11.76 415,940,338
Sub-Account 2015 31,417,980 1.14 - 11.35 351,642,870
(Commenced 4/29/2013) 2014 14,204,266 11.35 - 11.58 163,513,389
2013 7,294,047 10.69 - 10.77 78,417,229
MIST Schroders Global 2016 459,001,172 1.20 - 12.75 577,424,821
Multi-Asset Sub-Account 2015 467,251,015 1.16 - 12.20 562,872,602
(Commenced 4/30/2012) 2014 400,460,215 1.20 - 12.36 493,380,979
2013 375,261,358 1.14 - 1.17 435,205,689
2012 179,641,654 1.06 - 1.07 191,885,161
MIST SSGA Growth and Income 2016 85,949,744 13.64 - 16.06 1,290,390,224
ETF Sub-Account 2015 93,774,991 13.20 - 15.32 1,349,807,450
2014 101,616,119 13.79 - 15.77 1,513,705,632
2013 110,435,377 13.34 - 15.03 1,578,178,677
2012 118,446,237 12.09 - 13.24 1,521,502,479
MIST SSGA Growth ETF 2016 30,512,706 13.61 - 16.02 454,752,008
Sub-Account 2015 32,991,663 13.03 - 15.12 467,274,058
2014 34,092,389 13.66 - 15.62 501,804,705
2013 35,919,224 13.27 - 14.96 509,607,858
2012 36,733,044 11.51 - 12.55 448,167,959
MIST T. Rowe Price Large 2016 11,082,070 43.41 - 159.87 747,778,790
Cap Value Sub-Account 2015 12,150,155 38.27 - 138.81 715,850,738
2014 13,521,347 40.58 - 144.85 838,816,422
2013 11,320,980 38.18 - 128.69 657,944,319
2012 12,231,249 28.88 - 96.83 536,790,380
MIST T. Rowe Price Mid Cap 2016 25,320,043 16.30 - 19.10 462,783,968
Growth Sub-Account 2015 27,786,712 15.70 - 18.22 485,654,167
2014 32,310,271 15.06 - 17.30 537,586,208
2013 37,965,912 13.67 - 15.54 568,882,747
2012 41,941,697 10.24 - 11.53 467,536,275
FOR THE YEAR ENDED DECEMBER 31
--------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- -----------------
MIST PIMCO Inflation 2016 -- 0.90 - 2.35 2.55 - 4.04
Protected Bond Sub-Account 2015 4.95 0.90 - 2.35 (5.36) - (3.98)
2014 1.54 0.90 - 2.35 (1.54) - 1.97
2013 2.20 0.90 - 2.35 (11.38) - (10.09)
2012 3.02 0.90 - 2.35 4.22 - 7.82
MIST PIMCO Total Return 2016 2.59 0.89 - 2.35 0.23 - 1.94
Sub-Account 2015 5.26 0.89 - 2.35 (2.32) - (0.45)
2014 2.34 0.89 - 2.35 0.40 - 3.56
2013 4.27 0.89 - 2.35 (4.19) - (2.59)
2012 3.13 0.89 - 2.35 4.10 - 8.58
MIST Pyramis Government 2016 2.11 0.90 - 2.35 (2.68) - 0.41
Income Sub-Account 2015 2.27 0.90 - 2.35 (1.90) - (0.47)
2014 2.60 0.90 - 2.35 0.96 - 6.59
2013 1.55 0.90 - 2.35 (6.74) - (5.37)
2012 0.02 0.90 - 2.35 0.74 - 1.96
MIST Pyramis Managed Risk 2016 0.75 0.90 - 2.25 0.87 - 3.63
Sub-Account 2015 0.66 0.90 - 2.25 (3.45) - (0.73)
(Commenced 4/29/2013) 2014 -- 1.10 - 2.25 0.98 - 7.40
2013 1.65 1.15 - 2.25 4.66 - 5.43
MIST Schroders Global 2016 1.40 0.90 - 2.35 0.71 - 4.71
Multi-Asset Sub-Account 2015 1.00 0.90 - 2.35 (3.18) - (1.77)
(Commenced 4/30/2012) 2014 1.32 0.90 - 2.35 0.43 - 6.77
2013 0.01 0.90 - 2.35 7.55 - 9.12
2012 1.49 0.90 - 2.35 5.01 - 6.03
MIST SSGA Growth and Income 2016 2.37 0.90 - 2.35 1.90 - 4.84
ETF Sub-Account 2015 2.30 0.90 - 2.35 (4.24) - (2.84)
2014 2.24 0.90 - 2.35 (0.03) - 4.86
2013 2.51 0.90 - 2.35 10.31 - 11.92
2012 2.40 1.10 - 2.35 4.01 - 11.55
MIST SSGA Growth ETF 2016 2.14 0.90 - 2.35 4.40 - 5.92
Sub-Account 2015 2.00 0.90 - 2.35 (4.58) - (3.19)
2014 1.88 0.90 - 2.35 (0.05) - 4.43
2013 2.10 0.90 - 2.35 15.33 - 17.01
2012 1.96 1.15 - 2.35 4.38 - 13.71
MIST T. Rowe Price Large 2016 2.83 0.89 - 2.35 8.67 - 15.17
Cap Value Sub-Account 2015 1.58 0.89 - 2.35 (5.83) - 3.48
2014 1.18 0.89 - 2.35 1.20 - 12.56
2013 1.58 0.89 - 2.35 30.67 - 32.90
2012 1.50 0.89 - 2.35 6.92 - 17.22
MIST T. Rowe Price Mid Cap 2016 -- 1.30 - 2.35 3.75 - 4.84
Growth Sub-Account 2015 -- 1.30 - 2.35 4.20 - 5.30
2014 -- 1.30 - 2.35 10.16 - 11.32
2013 0.21 1.30 - 2.35 33.41 - 34.82
2012 -- 1.30 - 2.35 11.03 - 12.21
129
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31
---------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
------------ --------------- --------------
MIST TCW Core Fixed Income 2016 29,430 9.90 - 10.02 292,738
Sub-Account 2015 7,421 9.84 - 9.87 73,169
(Commenced 5/1/2015)
MSF Baillie Gifford 2016 22,804,816 4.33 - 14.68 221,819,744
International Stock 2015 24,846,295 4.17 - 14.13 233,411,516
Sub-Account 2014 27,573,117 4.31 - 14.37 269,502,431
2013 29,549,817 4.51 - 15.12 303,453,047
2012 219,106 3.96 - 13.35 2,585,607
MSF Barclays Aggregate Bond 2016 21,606,441 1.79 - 19.26 308,498,975
Index Sub-Account 2015 18,032,558 1.77 - 18.98 245,107,645
2014 16,099,701 1.79 - 19.11 213,475,999
2013 13,536,937 1.71 - 18.22 162,571,849
2012 10,756,748 1.78 - 18.82 151,553,766
MSF BlackRock Bond Income 2016 1,269,349 46.30 - 77.89 74,475,330
Sub-Account 2015 1,196,294 46.01 - 76.20 69,045,344
2014 1,105,752 46.87 - 76.43 63,615,045
2013 1,054,348 44.86 - 72.01 57,251,907
2012 1,045,629 46.32 - 73.22 57,888,933
MSF BlackRock Capital 2016 584,767 17.21 - 54.82 14,098,982
Appreciation Sub-Account 2015 579,182 17.56 - 55.26 14,301,142
2014 639,908 16.88 - 52.46 14,686,428
2013 721,215 15.83 - 48.60 15,272,342
2012 745,728 12.04 - 36.54 11,831,610
MSF BlackRock Large Cap 2016 254,830 18.36 - 21.14 5,024,818
Value Sub-Account 2015 245,613 15.79 - 17.99 4,149,008
2014 229,967 17.66 - 19.31 4,201,564
2013 225,190 16.80 - 17.73 3,792,926
2012 230,438 12.89 - 13.54 2,977,532
MSF BlackRock Ultra-Short 2016 33,915,071 2.28 - 25.22 343,711,226
Term Bond Sub-Account 2015 39,040,662 2.31 - 25.42 398,590,779
2014 39,068,482 2.33 - 25.65 395,886,367
2013 44,329,198 2.36 - 25.88 461,342,890
2012 53,484,009 9.33 - 25.53 569,109,901
MSF Frontier Mid Cap Growth 2016 3,317,626 18.21 - 20.80 66,475,159
Sub-Account 2015 3,809,398 17.73 - 20.04 73,654,799
(Commenced 4/29/2013) 2014 4,248,372 17.69 - 19.79 81,297,538
2013 4,767,721 16.33 - 18.08 83,651,163
MSF Jennison Growth 2016 21,756,762 4.56 - 23.16 447,002,555
Sub-Account 2015 23,988,437 4.61 - 23.40 501,066,353
2014 27,528,387 4.22 - 21.36 529,020,323
2013 32,574,197 3.93 - 19.82 585,624,219
2012 35,125,323 2.91 - 14.55 468,764,846
MSF Loomis Sayles Small Cap 2016 241,747 52.28 - 68.64 14,400,635
Core Sub-Account 2015 250,951 44.97 - 58.33 12,750,644
2014 261,060 46.83 - 58.80 13,706,471
2013 283,327 46.30 - 57.49 14,610,773
2012 330,015 33.68 - 41.36 12,332,225
FOR THE YEAR ENDED DECEMBER 31
-------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- ----------------
MIST TCW Core Fixed Income 2016 0.71 0.90 - 1.60 0.59 - 1.29
Sub-Account 2015 -- 1.10 - 1.60 (1.56) - (0.10)
(Commenced 5/1/2015)
MSF Baillie Gifford 2016 1.38 1.10 - 2.25 2.71 - 3.91
International Stock 2015 1.43 1.10 - 2.25 (4.35) - (0.24)
Sub-Account 2014 1.26 1.30 - 2.25 (5.49) - (1.36)
2013 0.02 1.30 - 2.25 9.68 - 13.94
2012 1.14 1.40 - 1.90 17.11 - 17.85
MSF Barclays Aggregate Bond 2016 2.73 0.89 - 2.35 (2.09) - 1.44
Index Sub-Account 2015 2.67 0.89 - 2.35 (2.38) - (0.46)
2014 2.62 0.89 - 2.35 0.54 - 4.87
2013 3.23 0.89 - 2.25 (4.74) - (3.19)
2012 3.45 0.89 - 2.25 1.27 - 2.98
MSF BlackRock Bond Income 2016 2.96 0.89 - 2.30 (1.22) - 2.21
Sub-Account 2015 3.55 0.89 - 2.30 (1.84) - (0.30)
2014 3.22 0.89 - 2.30 0.85 - 6.14
2013 3.83 0.89 - 2.30 (3.17) - (1.65)
2012 2.54 0.89 - 2.30 3.74 - 6.59
MSF BlackRock Capital 2016 -- 0.89 - 2.30 (2.19) - (0.80)
Appreciation Sub-Account 2015 -- 0.89 - 2.30 0.83 - 5.34
2014 0.06 0.89 - 2.30 0.94 - 7.93
2013 0.79 0.89 - 2.30 31.17 - 33.03
2012 0.32 0.89 - 2.30 (0.88) - 13.35
MSF BlackRock Large Cap 2016 1.63 0.89 - 1.60 16.22 - 17.46
Value Sub-Account 2015 1.82 0.89 - 1.60 (10.29) - (6.82)
2014 1.26 0.89 - 1.35 1.39 - 8.95
2013 1.38 0.89 - 1.35 30.28 - 30.88
2012 1.61 0.89 - 1.35 12.74 - 13.27
MSF BlackRock Ultra-Short 2016 -- 0.90 - 2.35 (2.21) - (0.75)
Term Bond Sub-Account 2015 -- 0.90 - 2.35 (2.32) - (0.27)
2014 -- 0.90 - 2.35 (2.32) - (0.13)
2013 -- 0.90 - 2.35 (2.32) - (0.37)
2012 -- 0.95 - 2.35 (2.34) - (0.74)
MSF Frontier Mid Cap Growth 2016 -- 1.30 - 2.35 2.72 - 3.80
Sub-Account 2015 -- 1.30 - 2.35 0.22 - 1.28
(Commenced 4/29/2013) 2014 -- 1.30 - 2.35 8.30 - 9.44
2013 -- 1.30 - 2.35 19.21 - 20.07
MSF Jennison Growth 2016 0.03 0.90 - 2.35 (2.45) - (0.98)
Sub-Account 2015 0.02 0.90 - 2.35 3.00 - 9.55
2014 0.04 0.90 - 2.35 (0.16) - 7.81
2013 0.20 0.90 - 2.35 33.56 - 35.51
2012 0.01 0.95 - 2.35 (4.12) - 14.17
MSF Loomis Sayles Small Cap 2016 0.07 1.10 - 2.30 16.27 - 17.67
Core Sub-Account 2015 -- 1.10 - 2.30 (3.98) - (2.67)
2014 -- 1.20 - 2.30 1.15 - 2.27
2013 0.23 1.20 - 2.30 37.49 - 39.01
2012 -- 1.20 - 2.30 11.66 - 12.90
130
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31
--------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
------------ --------------- -------------
MSF Loomis Sayles Small Cap 2016 15,428 17.80 - 19.55 292,623
Growth Sub-Account 2015 18,203 17.03 - 18.60 328,707
(Commenced 4/30/2012) 2014 16,302 17.05 - 18.51 293,433
2013 12,506 17.15 - 18.50 226,802
2012 3,306 11.73 - 12.58 40,927
MSF Met/Artisan Mid Cap 2016 9,275,939 20.44 - 60.81 217,144,062
Value Sub-Account 2015 10,052,598 17.04 - 49.89 194,979,851
2014 11,205,267 19.30 - 55.59 244,385,523
2013 13,125,790 19.41 - 55.03 285,771,010
2012 13,419,571 14.54 - 40.57 217,257,576
MSF Met/Dimensional 2016 2,814,983 19.38 - 21.73 57,869,934
International Small Company 2015 3,198,853 18.74 - 20.72 63,108,799
Sub-Account 2014 3,070,324 18.13 - 19.77 58,174,088
2013 3,208,551 19.88 - 21.38 66,162,419
2012 3,203,412 15.91 - 16.90 52,618,293
MSF Met/Wellington Core 2016 29,665,645 5.82 - 62.22 787,903,717
Equity Opportunities 2015 26,356,637 17.28 - 58.48 527,700,755
Sub-Account 2014 30,718,018 17.28 - 57.62 609,015,113
2013 36,209,587 16.00 - 52.55 658,561,438
2012 41,401,029 12.26 - 39.65 572,327,325
MSF MetLife Asset 2016 7,192,154 13.15 - 15.31 101,585,600
Allocation 20 Sub-Account 2015 4,782,874 12.86 - 14.78 65,568,612
2014 2,973,577 13.22 - 15.00 41,687,543
2013 557,035 12.93 - 13.63 7,497,408
2012 735,694 12.67 - 13.27 9,655,026
MSF MetLife Asset 2016 266,351,270 13.44 - 16.21 3,966,089,283
Allocation 40 Sub-Account 2015 297,958,878 12.97 - 15.25 4,248,132,666
2014 341,017,115 13.43 - 15.56 4,991,456,808
2013 550,896 13.60 - 14.27 7,732,376
2012 588,986 12.52 - 13.07 7,576,787
MSF MetLife Asset 2016 407,551,536 14.43 - 20.37 6,424,608,702
Allocation 60 Sub-Account 2015 446,107,386 13.78 - 19.25 6,667,289,010
2014 489,838,225 14.27 - 19.73 7,527,991,156
2013 3,073,122 13.90 - 14.77 44,655,421
2012 3,326,548 12.05 - 12.71 41,689,448
MSF MetLife Asset 2016 353,810,551 14.56 - 21.32 5,638,281,052
Allocation 80 Sub-Account 2015 388,323,652 13.77 - 19.96 5,814,030,390
2014 420,572,925 14.33 - 20.54 6,507,894,347
2013 3,927,901 14.05 - 14.80 57,260,787
2012 4,335,356 11.55 - 12.09 51,720,857
MSF MetLife Mid Cap Stock 2016 5,338,539 3.27 - 35.35 151,623,612
Index Sub-Account 2015 5,111,469 2.75 - 29.62 121,483,288
2014 5,178,461 2.86 - 30.60 127,735,872
2013 5,501,359 2.64 - 28.20 125,884,078
2012 4,914,049 2.01 - 21.37 88,989,701
FOR THE YEAR ENDED DECEMBER 31
---------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- ------------------
MSF Loomis Sayles Small Cap 2016 -- 0.90 - 1.50 4.47 - 5.10
Growth Sub-Account 2015 -- 0.90 - 1.50 (0.08) - 0.52
(Commenced 4/30/2012) 2014 -- 0.90 - 1.50 (0.57) - 0.03
2013 -- 0.90 - 1.50 46.17 - 47.05
2012 -- 0.90 - 1.50 (1.28) - (0.88)
MSF Met/Artisan Mid Cap 2016 0.88 0.89 - 2.35 19.80 - 21.88
Value Sub-Account 2015 0.94 0.89 - 2.35 (11.76) - (10.24)
2014 0.55 0.89 - 2.35 (0.69) - 1.02
2013 0.77 0.89 - 2.35 33.34 - 35.64
2012 0.80 0.89 - 2.35 8.98 - 10.87
MSF Met/Dimensional 2016 1.92 0.90 - 2.30 3.42 - 4.88
International Small Company 2015 1.67 0.90 - 2.30 0.83 - 4.81
Sub-Account 2014 2.02 0.90 - 2.30 (8.82) - (0.83)
2013 1.72 0.90 - 2.30 24.70 - 26.46
2012 2.19 0.90 - 2.35 3.91 - 16.37
MSF Met/Wellington Core 2016 1.71 0.89 - 2.35 0.63 - 6.39
Equity Opportunities 2015 1.65 0.89 - 2.35 (0.11) - 4.18
Sub-Account 2014 0.59 0.89 - 2.35 1.34 - 9.65
2013 1.27 0.89 - 2.35 30.43 - 32.52
2012 0.72 0.89 - 2.35 1.16 - 11.86
MSF MetLife Asset 2016 3.21 0.90 - 2.20 0.66 - 3.59
Allocation 20 Sub-Account 2015 1.92 0.90 - 2.20 (2.75) - (0.55)
2014 1.17 0.90 - 2.20 0.07 - 3.02
2013 3.04 1.55 - 2.15 2.07 - 2.68
2012 3.27 1.55 - 2.15 6.85 - 7.49
MSF MetLife Asset 2016 3.55 0.90 - 2.35 1.95 - 5.14
Allocation 40 Sub-Account 2015 0.28 0.90 - 2.35 (3.37) - (0.68)
2014 0.01 0.90 - 2.35 0.04 - 3.47
2013 2.53 1.55 - 2.10 8.62 - 9.22
2012 2.95 1.55 - 2.10 9.13 - 9.74
MSF MetLife Asset 2016 3.15 0.90 - 2.35 3.07 - 6.15
Allocation 60 Sub-Account 2015 0.54 0.90 - 2.35 (3.56) - (0.67)
2014 0.02 0.90 - 2.35 0.03 - 3.93
2013 2.00 1.55 - 2.25 15.36 - 16.17
2012 2.39 1.55 - 2.25 10.71 - 11.49
MSF MetLife Asset 2016 2.95 0.90 - 2.35 4.56 - 7.17
Allocation 80 Sub-Account 2015 0.33 0.90 - 2.35 (3.98) - (0.84)
2014 0.02 0.90 - 2.35 (0.03) - 4.53
2013 1.46 1.55 - 2.15 21.67 - 22.40
2012 1.91 1.55 - 2.15 12.92 - 13.60
MSF MetLife Mid Cap Stock 2016 1.06 0.89 - 2.35 17.29 - 19.37
Index Sub-Account 2015 0.97 0.89 - 2.35 (7.24) - (2.52)
2014 0.85 0.89 - 2.35 1.60 - 8.52
2013 1.00 0.89 - 2.35 29.67 - 31.97
2012 0.82 0.89 - 2.35 14.53 - 16.55
131
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31
----------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
------------ ---------------- --------------
MSF MetLife Stock Index 2016 25,218,819 7.75 - 86.45 594,986,915
Sub-Account 2015 25,649,785 7.03 - 78.11 553,515,934
2014 28,264,874 7.03 - 77.90 610,830,233
2013 28,624,388 6.28 - 69.33 561,274,487
2012 29,109,224 4.82 - 52.98 446,759,028
MSF MFS Total Return 2016 645,393 50.82 - 81.96 41,309,025
Sub-Account 2015 710,775 47.72 - 75.73 42,319,194
2014 756,067 49.00 - 76.52 45,817,455
2013 814,124 46.24 - 71.07 46,044,412
2012 730,405 41.41 - 60.26 35,344,618
MSF MFS Value Sub-Account 2016 11,015,597 14.16 - 29.18 284,625,248
2015 10,866,190 12.69 - 25.81 249,890,569
2014 10,916,908 13.03 - 26.14 255,401,966
2013 12,139,878 12.05 - 23.85 260,473,964
2012 3,025,966 14.12 - 17.78 48,275,261
MSF MSCI EAFE Index 2016 9,185,190 1.46 - 15.96 104,406,669
Sub-Account 2015 8,770,551 1.46 - 15.89 99,902,951
2014 8,697,532 1.49 - 16.21 101,223,288
2013 8,809,646 1.61 - 17.40 112,197,169
2012 7,172,234 1.34 - 14.41 81,404,548
MSF Neuberger Berman 2016 5,470,799 20.57 - 32.20 133,113,538
Genesis Sub-Account 2015 6,339,117 17.77 - 27.37 131,949,869
2014 7,109,782 18.11 - 27.46 150,104,225
2013 8,020,175 18.58 - 27.70 172,247,460
2012 626,194 16.44 - 20.18 11,798,908
MSF Russell 2000 Index 2016 5,131,926 3.22 - 35.60 143,701,523
Sub-Account 2015 5,516,806 2.69 - 29.61 129,529,499
2014 5,807,014 2.84 - 31.21 144,858,146
2013 5,835,501 2.74 - 29.98 141,070,458
2012 5,078,788 2.01 - 21.83 91,750,975
MSF T. Rowe Price Large Cap 2016 17,003,069 8.79 - 62.34 203,478,587
Growth Sub-Account 2015 19,853,858 8.76 - 62.33 233,448,817
2014 15,015,374 8.02 - 57.25 166,959,337
2013 14,688,080 8.03 - 53.41 151,930,071
2012 39,346 35.99 - 39.07 1,501,612
MSF T. Rowe Price Small Cap 2016 373,919 29.67 - 42.70 12,987,892
Growth Sub-Account 2015 373,434 27.19 - 38.55 11,814,560
2014 321,073 27.11 - 37.87 9,976,420
2013 356,919 25.98 - 35.74 10,522,813
2012 380,162 18.41 - 24.95 7,808,995
MSF Van Eck Global Natural 2016 6,924,892 12.08 - 13.17 88,041,249
Resources Sub-Account 2015 8,336,502 8.59 - 9.26 74,871,874
2014 6,586,665 13.05 - 13.93 89,288,128
2013 6,278,667 16.43 - 17.17 106,449,499
2012 7,200,491 15.15 - 15.70 111,896,983
FOR THE YEAR ENDED DECEMBER 31
--------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- -----------------
MSF MetLife Stock Index 2016 1.84 0.89 - 2.90 8.35 - 10.68
Sub-Account 2015 1.57 0.89 - 2.90 (3.80) - 2.90
2014 1.51 0.89 - 2.90 0.87 - 12.36
2013 1.68 0.89 - 2.90 28.14 - 30.85
2012 1.55 0.89 - 2.90 12.30 - 14.73
MSF MFS Total Return 2016 2.77 0.89 - 2.30 6.50 - 8.23
Sub-Account 2015 2.49 0.89 - 2.30 (2.62) - (1.04)
2014 2.25 0.89 - 2.30 5.95 - 7.68
2013 2.31 0.89 - 2.30 16.06 - 17.94
2012 2.78 0.89 - 2.15 2.75 - 10.59
MSF MFS Value Sub-Account 2016 2.08 0.89 - 2.35 11.45 - 13.38
2015 2.49 0.89 - 2.35 (2.68) - 2.26
2014 1.57 0.89 - 2.35 1.99 - 9.83
2013 0.55 0.89 - 2.35 17.10 - 34.53
2012 1.94 0.89 - 2.30 3.00 - 15.61
MSF MSCI EAFE Index 2016 2.41 0.89 - 2.25 (1.28) - 0.44
Sub-Account 2015 3.14 0.89 - 2.25 (9.98) - (1.36)
2014 2.43 0.89 - 2.25 (8.42) - (2.81)
2013 2.89 0.89 - 2.25 18.74 - 20.78
2012 2.89 0.89 - 2.15 15.42 - 17.27
MSF Neuberger Berman 2016 0.23 0.89 - 2.35 15.64 - 17.63
Genesis Sub-Account 2015 0.18 0.89 - 2.35 (1.95) - (0.31)
2014 0.22 0.89 - 2.35 (2.62) - 0.40
2013 0.10 0.89 - 2.35 24.94 - 37.30
2012 0.34 0.89 - 2.30 7.25 - 9.05
MSF Russell 2000 Index 2016 1.07 0.89 - 2.35 18.12 - 20.21
Sub-Account 2015 1.00 0.89 - 2.35 (9.86) - (3.68)
2014 0.96 0.89 - 2.35 2.30 - 4.11
2013 1.29 0.89 - 2.35 34.91 - 37.33
2012 0.88 0.89 - 2.35 13.24 - 15.31
MSF T. Rowe Price Large Cap 2016 -- 0.89 - 2.35 (0.83) - 0.86
Growth Sub-Account 2015 -- 0.89 - 2.35 (3.16) - 9.80
2014 -- 0.89 - 2.35 (0.04) - 13.92
2013 -- 0.89 - 2.35 26.10 - 37.93
2012 -- 1.50 - 1.90 16.43 - 16.90
MSF T. Rowe Price Small Cap 2016 0.15 0.89 - 2.15 9.11 - 10.75
Growth Sub-Account 2015 0.08 0.89 - 2.15 (8.44) - 1.80
2014 0.01 0.89 - 2.15 2.47 - 5.96
2013 0.22 0.89 - 2.15 41.11 - 43.27
2012 -- 0.89 - 2.15 13.43 - 15.14
MSF Van Eck Global Natural 2016 0.59 1.10 - 2.15 40.68 - 42.17
Resources Sub-Account 2015 0.21 1.10 - 2.15 (34.19) - (33.49)
2014 0.27 1.10 - 2.15 (20.55) - (11.40)
2013 0.66 1.30 - 2.15 8.40 - 9.32
2012 -- 1.30 - 2.15 0.38 - 1.25
132
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31
--------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
----------- --------------- --------------
MSF Western Asset 2016 32,852,094 25.20 - 36.70 1,050,068,498
Management Strategic Bond 2015 6,545 27.92 - 31.04 195,310
Opportunities Sub-Account 2014 398 32.02 12,743
(Commenced 11/19/2014)
MSF Western Asset 2016 14,126,610 14.46 - 19.94 250,345,183
Management U.S. Government 2015 15,069,560 14.65 - 19.92 268,298,667
Sub-Account 2014 15,346,536 14.95 - 19.83 276,085,662
2013 16,417,493 14.93 - 19.52 291,870,388
2012 17,244,875 15.42 - 19.89 313,310,285
Neuberger Berman Genesis 2016 246 26.63 6,564
Sub-Account 2015 317 22.76 7,222
2014 393 22.93 9,013
2013 474 23.21 10,991
2012 474 17.11 8,101
Oppenheimer VA Core Bond 2016 921 6.21 5,719
Sub-Account 2015 1,226 6.10 7,477
2014 1,362 6.13 8,346
2013 1,493 5.79 8,646
2012 1,541 5.88 9,058
Oppenheimer VA Government 2016 640 5.30 3,396
Money Sub-Account 2015 668 5.38 3,592
2014 696 5.45 3,793
2013 723 5.53 4,000
2012 20,150 5.61 112,965
Oppenheimer VA Main Street 2016 3,684,082 19.26 - 33.36 115,192,944
Small Cap Sub-Account 2015 4,053,883 16.54 - 28.62 109,248,990
2014 4,346,502 17.83 - 30.77 126,466,514
2013 4,655,290 16.15 - 27.82 123,045,407
2012 5,041,901 11.62 - 19.97 96,092,155
Oppenheimer VA Main Street 2016 11,492 8.90 102,246
Sub-Account 2015 12,936 8.08 104,564
2014 13,372 7.93 106,085
2013 14,316 7.27 104,039
2012 14,959 5.59 83,663
PIMCO VIT 2016 64,637 7.15 - 7.22 464,850
CommodityRealReturn 2015 39,333 6.34 - 6.37 250,085
Strategy Sub-Account 2014 1,515 8.69 - 8.70 13,170
(Commenced 11/19/2014)
PIMCO VIT Emerging Markets 2016 62,989 10.18 - 10.29 645,743
Bond Sub-Account 2015 44,282 9.16 - 9.21 406,796
(Commenced 11/19/2014) 2014 1,592 9.55 15,202
PIMCO VIT Unconstrained 2016 56,423 9.87 - 9.98 560,051
Bond Sub-Account 2015 29,245 9.61 - 9.66 281,863
(Commenced 11/19/2014) 2014 478 9.96 4,759
FOR THE YEAR ENDED DECEMBER 31
--------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- -----------------
MSF Western Asset 2016 2.28 0.89 - 2.35 3.36 - 7.33
Management Strategic Bond 2015 3.26 1.10 - 1.60 (3.56) - (2.23)
Opportunities Sub-Account 2014 -- 1.10 (0.65)
(Commenced 11/19/2014)
MSF Western Asset 2016 2.39 0.90 - 2.35 (1.94) - 0.12
Management U.S. Government 2015 2.04 0.90 - 2.35 (2.02) - (0.40)
Sub-Account 2014 1.68 0.95 - 2.35 0.17 - 1.58
2013 1.95 0.95 - 2.35 (3.21) - (1.84)
2012 1.85 0.95 - 2.35 0.64 - 2.07
Neuberger Berman Genesis 2016 0.06 0.89 17.01
Sub-Account 2015 0.05 0.89 (0.74)
2014 0.05 0.89 (1.19)
2013 0.32 0.89 35.68
2012 0.21 0.89 8.84
Oppenheimer VA Core Bond 2016 3.73 1.40 1.83
Sub-Account 2015 4.05 1.40 (0.44)
2014 5.29 1.40 5.77
2013 5.14 1.40 (1.49)
2012 4.67 1.40 8.75
Oppenheimer VA Government 2016 -- 1.40 (1.38)
Money Sub-Account 2015 -- 1.40 (1.38)
2014 -- 1.40 (1.38)
2013 0.01 1.40 (1.38)
2012 0.01 1.40 (1.39)
Oppenheimer VA Main Street 2016 0.25 0.95 - 1.80 12.92 - 16.56
Small Cap Sub-Account 2015 0.64 0.95 - 1.75 (7.72) - (6.98)
2014 0.63 0.95 - 1.75 9.72 - 10.60
2013 0.70 0.95 - 1.75 38.19 - 39.29
2012 0.33 0.95 - 1.75 15.62 - 16.55
Oppenheimer VA Main Street 2016 1.14 1.40 10.07
Sub-Account 2015 0.92 1.40 1.89
2014 0.84 1.40 9.16
2013 1.10 1.40 29.94
2012 0.86 1.40 15.24
PIMCO VIT 2016 0.90 1.10 - 1.60 12.80 - 13.37
CommodityRealReturn 2015 2.13 1.10 - 1.60 (27.09) - (26.72)
Strategy Sub-Account 2014 0.20 1.10 - 1.35 (13.36) - (13.33)
(Commenced 11/19/2014)
PIMCO VIT Emerging Markets 2016 4.97 0.95 - 1.60 11.18 - 11.91
Bond Sub-Account 2015 5.03 1.10 - 1.60 (4.08) - (3.60)
(Commenced 11/19/2014) 2014 0.32 1.10 - 1.60 (3.46) - (3.40)
PIMCO VIT Unconstrained 2016 1.42 1.10 - 1.60 2.77 - 3.28
Bond Sub-Account 2015 4.52 1.10 - 1.60 (3.52) - (3.04)
(Commenced 11/19/2014) 2014 0.04 1.35 (0.10)
133
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONTINUED)
AS OF DECEMBER 31
---------------------------------------------
UNIT VALUE
LOWEST TO NET
UNITS HIGHEST ($) ASSETS ($)
------------ --------------- --------------
Pioneer VCT Mid Cap Value 2016 1,342,318 44.36 - 55.19 67,321,539
Sub-Account 2015 1,461,366 38.92 - 47.94 63,990,328
2014 1,581,277 42.37 - 51.68 74,902,996
2013 1,719,853 37.64 - 45.45 71,900,042
2012 1,769,793 28.91 - 34.56 56,444,927
Pioneer VCT Real Estate 2016 8,268 28.88 - 32.67 252,027
Shares Sub-Account 2015 8,230 27.82 - 31.25 240,901
2014 8,772 27.15 - 30.26 249,879
2013 11,399 21.20 - 23.46 252,653
2012 10,700 21.29 - 23.38 237,514
T. Rowe Price Government 2016 31,086 17.14 532,685
Money Sub-Account 2015 28,754 17.29 497,039
2014 29,487 17.44 514,215
2013 31,743 17.59 558,449
2012 40,746 17.75 723,146
T. Rowe Price Growth Stock 2016 40,267 158.76 6,392,650
Sub-Account 2015 44,692 157.95 7,058,976
2014 52,254 143.75 7,511,742
2013 62,571 133.27 8,339,192
2012 66,302 96.60 6,404,585
T. Rowe Price International 2016 24,670 15.53 383,175
Stock Sub-Account 2015 27,270 15.32 417,754
2014 39,998 15.58 623,024
2013 41,360 15.85 655,401
2012 45,736 13.99 639,881
TAP 1919 Variable Socially 2016 3,566 37.21 - 41.07 143,946
Responsive Balanced 2015 5,634 35.70 - 39.24 215,832
Sub-Account 2014 6,406 37.02 - 40.53 253,840
2013 7,932 34.52 - 37.64 292,286
2012 9,185 29.64 - 32.19 289,329
UIF Global Infrastructure 2016 41,674 11.55 - 12.97 503,939
Sub-Account 2015 32,371 10.20 - 11.38 345,685
(Commenced 11/19/2014) 2014 664 12.49 - 12.95 8,465
VanEck VIP Long/Short 2016 47,143 9.70 - 9.81 460,268
Equity Index Sub-Account 2015 26,997 9.61 - 9.67 260,319
(Commenced 11/19/2014) 2014 1,662 10.08 - 10.09 16,769
FOR THE YEAR ENDED DECEMBER 31
--------------------------------------------------
INVESTMENT(1) EXPENSE RATIO(2) TOTAL RETURN(3)
INCOME LOWEST TO LOWEST TO
RATIO (%) HIGHEST (%) HIGHEST (%)
------------- ---------------- -----------------
Pioneer VCT Mid Cap Value 2016 0.47 0.95 - 1.95 10.51 - 15.13
Sub-Account 2015 0.55 0.95 - 1.95 (8.16) - (7.24)
2014 0.65 0.95 - 1.95 12.58 - 13.71
2013 0.74 0.95 - 1.95 30.19 - 31.50
2012 0.84 0.95 - 1.95 8.67 - 9.77
Pioneer VCT Real Estate 2016 3.27 1.20 - 1.95 3.78 - 4.56
Shares Sub-Account 2015 2.06 1.20 - 1.95 2.50 - 3.27
2014 2.29 1.20 - 1.95 28.04 - 29.00
2013 2.16 1.20 - 1.95 (0.42) - 0.33
2012 2.11 1.20 - 1.95 13.84 - 14.70
T. Rowe Price Government 2016 0.02 0.89 (0.87)
Money Sub-Account 2015 0.01 0.89 (0.88)
2014 0.01 0.89 (0.88)
2013 0.01 0.89 (0.87)
2012 0.01 0.89 (0.88)
T. Rowe Price Growth Stock 2016 0.07 0.89 0.51
Sub-Account 2015 -- 0.89 9.87
2014 -- 0.89 7.86
2013 0.04 0.89 37.97
2012 0.18 0.89 17.86
T. Rowe Price International 2016 1.14 0.89 1.39
Stock Sub-Account 2015 0.80 0.89 (1.65)
2014 1.13 0.89 (1.70)
2013 0.97 0.89 13.26
2012 1.21 0.89 17.66
TAP 1919 Variable Socially 2016 0.88 1.50 - 1.90 4.24 - 4.65
Responsive Balanced 2015 1.19 1.50 - 1.90 (3.56) - (3.18)
Sub-Account 2014 0.87 1.50 - 1.90 7.25 - 7.68
2013 0.83 1.50 - 1.90 16.47 - 16.94
2012 1.06 1.50 - 1.90 8.62 - 9.06
UIF Global Infrastructure 2016 2.10 0.90 - 1.60 13.14 - 13.94
Sub-Account 2015 1.43 0.90 - 1.60 (15.25) - (12.01)
(Commenced 11/19/2014) 2014 -- 1.10 - 1.35 0.27 - 0.30
VanEck VIP Long/Short 2016 0.14 1.10 - 1.60 0.99 - 1.50
Equity Index Sub-Account 2015 0.06 1.10 - 1.60 (4.67) - (4.20)
(Commenced 11/19/2014) 2014 -- 1.10 - 1.35 0.67 - 0.70
1 These amounts represent the dividends, excluding distributions of capital
gains, received by the Sub-Account from the underlying portfolio, series or
fund, net of management fees assessed by the fund manager, divided by the
average net assets, regardless of share class, if any. These ratios exclude
those expenses, such as mortality and expense risk charges, that are assessed
against contract owner accounts either through reductions in the unit values
or the redemption of units. The investment income ratio is calculated for
each period indicated or from the effective date through the end of the
reporting period. The recognition of investment income by the Sub-Account is
affected by the timing of the declaration of dividends by the underlying
portfolio, series or fund in which the Sub-Account invests. The investment
income ratio is calculated as a weighted average ratio since the Sub-Account
may invest in two or more share classes, within the underlying portfolio,
series or fund of the Trusts which may have unique investment income
ratios.
134
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)
8. FINANCIAL HIGHLIGHTS -- (CONCLUDED)
2 These amounts represent annualized contract expenses of each of the
applicable Sub-Accounts, consisting primarily of mortality and expense risk
charges, for each period indicated. The ratios include only those expenses
that result in a direct reduction to unit values. Charges made directly to
contract owner accounts through the redemption of units and expenses of the
underlying portfolio, series or fund have been excluded.
3 These amounts represent the total return for the period indicated, including
changes in the value of the underlying portfolio, series or fund, and
expenses assessed through the reduction of unit values. These ratios do not
include any expenses assessed through the redemption of units. The total
return is calculated for each period indicated or from the effective date
through the end of the reporting period. The total return is presented as a
range of minimum to maximum returns, based on the minimum and maximum returns
within each product grouping of the applicable Sub-Account.
135
METLIFE INVESTORS USA SEPARATE ACCOUNT A
OF METLIFE INSURANCE COMPANY USA
NOTES TO THE FINANCIAL STATEMENTS -- (CONCLUDED)
9. SUBSEQUENT EVENTS
The operations of the Sub-Accounts were affected by the following changes that
occurred on March 6, 2017:
PORTFOLIO NAME CHANGES:
Former Name New Name
(MIST) Met/Aberdeen Emerging Markets Equity (BHFTI) Brighthouse/Aberdeen Emerging Markets
Portfolio Equity Portfolio
(MIST) Met/Artisan International Portfolio (BHFTI) Brighthouse/Artisan International Portfolio
(MIST) Met/Eaton Vance Floating Rate Portfolio (BHFTI) Brighthouse/Eaton Vance Floating Rate
Portfolio
(MIST) Met/Franklin Low Duration Total Return (BHFTI) Brighthouse/Franklin Low Duration Total
Portfolio Return Portfolio
(MIST) Met/Templeton International Bond Portfolio (BHFTI) Brighthouse/Templeton International Bond
Portfolio
(MIST) Met/Wellington Large Cap Research Portfolio (BHFTI) Brighthouse/Wellington Large Cap Research
Portfolio
(MIST) MetLife Asset Allocation 100 Portfolio (BHFTI) Brighthouse Asset Allocation 100 Portfolio
(MIST) MetLife Balanced Plus Portfolio (BHFTI) Brighthouse Balanced Plus Portfolio
(MIST) MetLife Small Cap Value Portfolio (BHFTI) Brighthouse Small Cap Value Portfolio
(MSF) Barclays Aggregate Bond Index Portfolio (BHFTII) MetLife Aggregate Bond Index Portfolio
(MSF) Met/Artisan Mid Cap Value Portfolio (BHFTII) Brighthouse/Artisan Mid Cap Value
Portfolio
(MSF) Met/Dimensional International Small Company (BHFTII) Brighthouse/Dimensional International
Portfolio Small Company Portfolio
(MSF) Met/Wellington Core Equity Opportunities (BHFTII) Brighthouse/Wellington Core Equity
Portfolio Opportunities Portfolio
(MSF) MetLife Asset Allocation 20 Portfolio (BHFTII) Brighthouse Asset Allocation 20 Portfolio
(MSF) MetLife Asset Allocation 40 Portfolio (BHFTII) Brighthouse Asset Allocation 40 Portfolio
(MSF) MetLife Asset Allocation 60 Portfolio (BHFTII) Brighthouse Asset Allocation 60 Portfolio
(MSF) MetLife Asset Allocation 80 Portfolio (BHFTII) Brighthouse Asset Allocation 80 Portfolio
(MSF) MSCI EAFE Index Portfolio (BHFTII) MetLife MSCI EAFE Index Portfolio
(MSF) Russell 2000 Index Portfolio (BHFTII) MetLife Russell 2000 Index Portfolio
TRUST NAME CHANGES:
Former Trust New Trust
Met Investors Series Trust (MIST) Brighthouse Funds Trust I (BHFTI)
Metropolitan Series Fund (MSF) Brighthouse Funds Trust II (BHFTII)
ADVISER NAME CHANGE:
Former Adviser New Adviser
MetLife Advisers, LLC Brighthouse Investment Advisers, LLC
SEPARATE ACCOUNT NAME CHANGE:
Former Name New Name
MetLife Investors USA Separate Account A Brighthouse Separate Account A
136
Brighthouse Life Insurance Company
(A Wholly-Owned Subsidiary of MetLife, Inc.)
Item 8. Financial Statements and Supplementary Data
Index to Consolidated Financial Statements, Notes and Schedules
Page
---------
Report of Independent Registered Public Accounting Firm.............................................. 2
Financial Statements at December 31, 2016 and 2015 and for the Years Ended December 31, 2016, 2015
and 2014:
Consolidated Balance Sheets......................................................................... 3
Consolidated Statements of Operations............................................................... 4
Consolidated Statements of Comprehensive Income (Loss).............................................. 5
Consolidated Statements of Stockholder's Equity..................................................... 6
Consolidated Statements of Cash Flows............................................................... 7
Notes to the Consolidated Financial Statements...................................................... 9
Note 1 -- Business, Basis of Presentation and Summary of Significant Accounting Policies........ 9
Note 2 -- Segment Information................................................................... 25
Note 3 -- Mergers............................................................................... 30
Note 4 -- Disposition........................................................................... 30
Note 5 -- Insurance............................................................................. 31
Note 6 -- Deferred Policy Acquisition Costs, Value of Business Acquired and Other Intangibles... 37
Note 7 -- Reinsurance........................................................................... 40
Note 8 -- Investments........................................................................... 46
Note 9 -- Derivatives........................................................................... 66
Note 10 -- Fair Value........................................................................... 78
Note 11 -- Goodwill............................................................................. 95
Note 12 -- Debt................................................................................. 97
Note 13 -- Equity............................................................................... 97
Note 14 -- Other Expenses....................................................................... 101
Note 15 -- Income Tax........................................................................... 102
Note 16 -- Contingencies, Commitments and Guarantees............................................ 105
Note 17 -- Related Party Transactions........................................................... 109
Note 18 -- Subsequent Events.................................................................... 111
Financial Statement Schedules at December 31, 2016 and 2015 and for the Years Ended December 31,
2016, 2015 and 2014:
Schedule I -- Consolidated Summary of Investments -- Other Than Investments in Related Parties...... 112
Schedule III -- Consolidated Supplementary Insurance Information.................................... 113
Schedule IV -- Consolidated Reinsurance............................................................. 115
1
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and Stockholder of
Brighthouse Life Insurance Company:
We have audited the accompanying consolidated balance sheets of Brighthouse
Life Insurance Company (formerly MetLife Insurance Company USA) and
subsidiaries (the "Company") as of December 31, 2016 and 2015, and the related
consolidated statements of operations, comprehensive income (loss),
stockholder's equity, and cash flows for each of the three years in the period
ended December 31, 2016. Our audits also included the financial statement
schedules listed in the Index to Consolidated Financial Statements, Notes and
Schedules. These consolidated financial statements and financial statement
schedules are the responsibility of the Company's management. Our
responsibility is to express an opinion on the consolidated financial
statements and financial statement schedules based on our audits.
We conducted our audits in accordance with the standards of the Public
Company Accounting Oversight Board (United States). Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether
the consolidated financial statements are free of material misstatement. The
Company is not required to have, nor were we engaged to perform, an audit of
its internal control over financial reporting. Our audits included
consideration of internal control over financial reporting as a basis for
designing audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the Company's
internal control over financial reporting. Accordingly, we express no such
opinion. An audit also includes examining, on a test basis, evidence supporting
the amounts and disclosures in the consolidated financial statements, assessing
the accounting principles used and significant estimates made by management, as
well as evaluating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.
In our opinion, such consolidated financial statements present fairly, in
all material respects, the financial position of Brighthouse Life Insurance
Company and subsidiaries as of December 31, 2016 and 2015, and the results of
their operations and their cash flows for each of the three years in the period
ended December 31, 2016, in conformity with accounting principles generally
accepted in the United States of America. Also, in our opinion, such financial
statement schedules, when considered in relation to the basic consolidated
financial statements taken as a whole, present fairly, in all material
respects, the information set forth therein.
/s/ DELOITTE & TOUCHE LLP
New York, New York
March 28, 2017
2
Brighthouse Life Insurance Company
(A Wholly-Owned Subsidiary of MetLife, Inc.)
Consolidated Balance Sheets
December 31, 2016 and 2015
(In millions, except share and per share data)
2016 2015
------------ -------------
Assets
Investments:
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost:
$49,312 and $50,154, respectively)...................................................... $ 51,785 $ 52,409
Equity securities available-for-sale, at estimated fair value (cost: $280 and $384,
respectively)........................................................................... 300 409
Mortgage loans (net of valuation allowances of $38 and $36, respectively; includes $136
and $172, respectively, at estimated fair value, relating to variable interest entities) 8,884 7,262
Policy loans............................................................................. 1,093 1,266
Real estate and real estate joint ventures (includes $0 and $5, respectively, of real
estate held-for-sale)................................................................... 215 628
Other limited partnership interests...................................................... 1,639 1,846
Short-term investments, principally at estimated fair value.............................. 926 1,737
Other invested assets, principally at estimated fair value............................... 3,887 4,942
------------ -------------
Total investments....................................................................... 68,729 70,499
Cash and cash equivalents, principally at estimated fair value............................ 1,888 1,383
Accrued investment income (includes $1 and $1, respectively, relating to variable
interest entities)....................................................................... 591 505
Premiums, reinsurance and other receivables............................................... 20,101 22,251
Deferred policy acquisition costs and value of business acquired.......................... 5,274 4,809
Current income tax recoverable............................................................ 454 --
Deferred income tax receivable............................................................ 1,018 --
Goodwill.................................................................................. -- 381
Other assets.............................................................................. 630 799
Separate account assets................................................................... 100,588 101,735
------------ -------------
Total assets.......................................................................... $ 199,273 $ 202,362
============ =============
Liabilities and Stockholder's Equity
Liabilities
Future policy benefits.................................................................... $ 31,684 $ 29,894
Policyholder account balances............................................................. 35,587 35,661
Other policy-related balances............................................................. 3,384 3,549
Payables for collateral under securities loaned and other transactions.................... 7,362 10,619
Long-term debt (includes $23 and $48, respectively, at estimated fair value, relating to
variable interest entities).............................................................. 804 836
Current income tax payable................................................................ -- 20
Deferred income tax liability............................................................. -- 803
Other liabilities (includes $1 and $1, respectively, relating to variable interest
entities)................................................................................ 10,147 7,682
Separate account liabilities.............................................................. 100,588 101,735
------------ -------------
Total liabilities..................................................................... 189,556 190,799
------------ -------------
Contingencies, Commitments and Guarantees (Note 16)
Stockholder's Equity
Common stock, par value $25,000 per share; 4,000 shares authorized; 3,000 shares issued
and outstanding.......................................................................... 75 75
Additional paid-in capital................................................................ 12,449 10,871
Retained earnings (deficit)............................................................... (4,209) (1,011)
Accumulated other comprehensive income (loss)............................................. 1,402 1,628
------------ -------------
Total stockholder's equity............................................................ 9,717 11,563
------------ -------------
Total liabilities and stockholder's equity............................................ $ 199,273 $ 202,362
============ =============
See accompanying notes to the consolidated financial statements.
3
Brighthouse Life Insurance Company
(A Wholly-Owned Subsidiary of MetLife, Inc.)
Consolidated Statements of Operations
For the Years Ended December 31, 2016, 2015 and 2014
(In millions)
2016 2015 2014
--------- ----------- -----------
Revenues
Premiums...................................................................... $ 921 $ 1,433 $ 1,152
Universal life and investment-type product policy fees........................ 2,696 2,940 3,193
Net investment income......................................................... 2,712 2,615 2,669
Other revenues................................................................ 761 504 539
Net investment gains (losses):
Other-than-temporary impairments on fixed maturity securities................ (16) (16) (6)
Other-than-temporary impairments on fixed maturity securities transferred to
other comprehensive income (loss).......................................... (3) (9) (6)
Other net investment gains (losses).......................................... (13) 61 (457)
--------- ----------- -----------
Total net investment gains (losses)........................................ (32) 36 (469)
Net derivative gains (losses)................................................ (5,878) (424) (181)
--------- ----------- -----------
Total revenues........................................................... 1,180 7,104 6,903
--------- ----------- -----------
Expenses
Policyholder benefits and claims.............................................. 2,984 2,696 2,764
Interest credited to policyholder account balances............................ 957 1,037 1,062
Goodwill impairment........................................................... 381 -- 33
Amortization of deferred policy acquisition costs and value of business
acquired.................................................................... (172) 595 990
Other expenses................................................................ 1,738 1,722 1,764
--------- ----------- -----------
Total expenses........................................................... 5,888 6,050 6,613
--------- ----------- -----------
Income (loss) before provision for income tax................................. (4,708) 1,054 290
Provision for income tax expense (benefit).................................... (1,771) 215 (5)
--------- ----------- -----------
Net income (loss)............................................................. $ (2,937) $ 839 $ 295
========= =========== ===========
See accompanying notes to the consolidated financial statements.
4
Brighthouse Life Insurance Company
(A Wholly-Owned Subsidiary of MetLife, Inc.)
Consolidated Statements of Comprehensive Income (Loss)
For the Years Ended December 31, 2016, 2015 and 2014
(In millions)
2016 2015 2014
------------- ------------- -------------
Net income (loss)........................................................... $ (2,937) $ 839 $ 295
Other comprehensive income (loss):
Unrealized investment gains (losses), net of related offsets.............. (349) (1,324) 1,953
Unrealized gains (losses) on derivatives.................................. 25 86 244
Foreign currency translation adjustments.................................. (3) (28) (50)
------------- ------------- -------------
Other comprehensive income (loss), before income tax........................ (327) (1,266) 2,147
Income tax (expense) benefit related to items of other comprehensive income
(loss)..................................................................... 101 468 (701)
------------- ------------- -------------
Other comprehensive income (loss), net of income tax........................ (226) (798) 1,446
------------- ------------- -------------
Comprehensive income (loss)................................................. $ (3,163) $ 41 $ 1,741
============= ============= =============
See accompanying notes to the consolidated financial statements.
5
Brighthouse Life Insurance Company
(A Wholly-Owned Subsidiary of MetLife, Inc.)
Consolidated Statements of Stockholder's Equity
For the Years Ended December 31, 2016, 2015 and 2014
(In millions)
Accumulated
Additional Retained Other Total
Common Paid-in Earnings Comprehensive Stockholder's
Stock Capital (Deficit) Income (Loss) Equity
--------- ------------- ---------- ------------- -------------