-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PbLWWTxP3ekuDRoZwzUc0Cm/BXxLNUUqQAeleorwiEOfJS1Q/uJVHMYegemHsuYk svCzBd6/6CtAhpFj5XoImw== 0000889812-99-002882.txt : 20000211 0000889812-99-002882.hdr.sgml : 20000211 ACCESSION NUMBER: 0000889812-99-002882 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990930 FILER: COMPANY DATA: COMPANY CONFORMED NAME: METROPOLITAN LIFE SEPARATE ACCOUNT UL CENTRAL INDEX KEY: 0000858997 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 033-91226 FILM NUMBER: 99720671 BUSINESS ADDRESS: STREET 1: 1 MADISON AVE STREET 2: METROPOLITAN LIFE INSURANCE CO CITY: NEW YORK STATE: NY ZIP: 10010 BUSINESS PHONE: 2125788717 MAIL ADDRESS: STREET 1: 1 MADISON AVENUE STREET 2: LAW DEPARTMENT AREA 7 G CITY: NEW YORK STATE: NY ZIP: 10010 497 1 PROSPECTUS SUPPLEMENT SUPPLEMENT to the PROSPECTUSES dated APRIL 30, 1999 For Metropolitan Life Separate Account UL Group Variable Universal Life Insurance Issued By: Metropolitan Life Insurance Company You should read this Supplement in conjunction with the appropriate prospectus for the Metropolitan Life Separate Account UL and retain it with your prospectus for your future reference. This Supplement is for use between the date Metropolitan Life Insurance Company ("MetLife", "we") adopts a plan of reorganization from a mutual company to a stock company and the date on which the reorganization takes place. This time period is referred to as the "pendency period." New York Insurance Law requires that we provide persons issued a certificate issued in connection with a group variable universal life insurance policy during the pendency period with a Notice. The Notice follows and is part of this Supplement. You should read it carefully. The Notice is only for use in connection with MetLife's offering of CERTIFICATES ISSUED IN CONNECTION WITH A GROUP VARIABLE UNIVERSAL LIFE POLICY for Metropolitan Life Separate Account UL during the pendency period. NOTICE OF PENDENCY of a Plan of Reorganization On September 28, 1999, Metropolitan Life Insurance Company ("MetLife" or "we") adopted a plan of reorganization to convert from a mutual life insurance company to a stock life insurance company (the "plan"). Upon conversion, MetLife will become a wholly owned subsidiary of a new publicly owned holding company, MetLife, Inc. The plan is subject to approval by the New York State Superintendent of Insurance after a public hearing. In addition, the plan cannot go into effect unless it is approved by a vote of eligible MetLife policyholders and contract holders whose policies or contracts were in force on September 28, 1999. Subject to these approvals and certain other conditions, we expect the plan to become effective during the first quarter of the year 2000. Holders of policies or contracts who are entitled to vote on the plan will be entitled to receive certain compensation pursuant to the terms of the plan. Our conversion to a stock company will have no effect on your rights or our obligations under your policy or contract, all of which will remain exactly as stated in the policy or contract. Upon conversion, however, our policyholders and contract holders will no longer have rights as members of MetLife. (These rights consist primarily of the right to vote on matters submitted to policyholders for a vote, including the election of directors, and the right to receive a portion of any remaining surplus if the company is liquidated.) In addition, because the policy or contract for which this Notice of Pendency is being given was issued after September 28, 1999, or was issued but the required premium was not paid by that date, the New York Insurance Law provides that you will not (by virtue of that policy or contract) be entitled to vote on the plan or to receive compensation pursuant to the plan. This Notice of Pendency has no effect on your rights with respect to any other policies or contracts issued by us. We bring this to your attention because your policy or contract was not issued by September 28, 1999, or was issued but the required premium was not paid by that date. Upon receipt of this Notice of Pendency, you have the right under the New York Insurance Law to rescind your policy or contract and obtain a refund of any amounts paid with respect to your policy or contract. A written notice must be delivered to MetLife stating that you wish to exercise the rescission and refund right under this Notice of Pendency. Any such notice must be received by our Administrative Offices or your MetLife representative within ten days of the date you receive this Notice. If you exercise this rescission and refund right, your application will be cancelled, your policy or contract will be rescinded, and any premium you have paid will be refunded to you. You will then have no further rights under the policy or contract. This notification itself does not affect your right to exercise any contractual provisions contained within the policy or contract. For separate account policies or contracts, however, the amount of the refund would be as described in the Right to Examine Policy or Right to Examine Contract provision on the cover of your policy or contract form. If you have any questions regarding this Notice, please contact your Financial Services Representative or call 1-800-Met-5000 (1-800-638-5000). KEEP THIS SUPPLEMENT WITH YOUR PROSPECTUS September 29, 1999 E99098LHH(exp0900)MLIC-LD -----END PRIVACY-ENHANCED MESSAGE-----