-----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, LHRtFpyYgiPb2g32c3GTUu5jxzbyKQ5569OZyo13rNySsoiBYIPTeQBYRESMSKpV cDilDLatekig3DUy7V4cEw== 0000950109-02-004455.txt : 20020822 0000950109-02-004455.hdr.sgml : 20020822 20020822125149 ACCESSION NUMBER: 0000950109-02-004455 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20020822 EFFECTIVENESS DATE: 20020822 FILER: COMPANY DATA: COMPANY CONFORMED NAME: METROPOLITAN LIFE SEPARATE ACCOUNT UL CENTRAL INDEX KEY: 0000858997 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 033-47927 FILM NUMBER: 02745533 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 485BPOS 1 d485bpos.txt METROPOLITIAN SEPARATE ACCOUNT UL As filed with the Securities and Exchange Commission on August 22, 2002 Registration No. 33-47927 ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ----------------- Form S-6 POST-EFFECTIVE AMENDMENT No. 14 To REGISTRATION STATEMENT Under THE SECURITIES ACT OF 1933 ----------------- Metropolitan Life Separate Account UL (Exact name of trust) Metropolitan Life Insurance Company (Name of depositor) 1 Madison Avenue New York, New York 10010 (Complete address of depositor's principal executive offices) ----------------- GARY A. BELLER, ESQ. Senior Executive Vice-President and General Counsel Metropolitan Life Insurance Company 1 Madison Avenue New York, New York 10010 (Name and complete address of agent for service) ----------------- Copies to: GARY O. COHEN, ESQ. and THOMAS C. LAUERMAN, ESQ. Foley & Lardner 3000 K Street, N.W. Washington, D.C. 20007 ----------------- It is proposed that the filing will become effective (check appropriate box) [X] immediately upon filing pursuant to paragraph (b) [_] on (date) pursuant to paragraph (b) [_] on (date) pursuant to paragraph (a)(1) of Rule 485 [_] on (date), pursuant to paragraph (a) of Rule 485 This filing is made in reliance on Rule 6c-3 and 6e-3(T) under the Investment Company Act of 1940 to register an indefinite amount of interests in Metropolitan Life Separate Account UL which funds certain variable universal life insurance policies. ================================================================================ This amendment is being filed solely for the purpose of filing new Exhibits 1(A)(5)(g), and 6(a) to replace two corresponding exhibits that were previously filed. No other material previously filed with this registration statement is deleted or modified by this amendment. SIGNATURES Pursuant to the requirements of the Securities Act of 1933, METROPOLITAN LIFE INSURANCE COMPANY, certifies that it meets all of the requirements for effectiveness of this amended Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this amended Registration Statement to be signed on its behalf by the undersigned thereunto duly authorized, and its seal to be hereunto affixed and attested, all in the City of New York, State of New York, this 21st day of August, 2002. METROPOLITAN LIFE INSURANCE COMPANY (SEAL) By: /S/ GARY A. BELLER --------------------------------- Gary A. Beller Senior Executive Vice-President & General Counsel Attest: /S/ JAMES D. GAUGHAN ------------------------- James D. Gaughan Assistant Secretary Pursuant to the requirements of the Securities Act of 1933, this amended Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.
Signature Title Date --------- ----- ---- * Chairman of the Board, - ---------------------------------- President and Chief Robert H. Benmosche Executive Officer and Director (Principal Executive Officer) * Vice-Chairman of the - ---------------------------------- Board and Chief Gerald Clark Investment Officer and Director * Vice-Chairman of the - ---------------------------------- Board and Chief Stewart G. Nagler Financial Officer (Principal Financial Officer) * Senior Vice-President and - ---------------------------------- Controller (Principal Virginia M. Wilson Accounting Officer) * Director - ---------------------------------- Curtis H. Barnette *By /S/ CHRISTOPHER P. NICHOLAS August 21, 2002 --------------------------------- Christopher P. Nicholas, Esq. Attorney-in-fact
Signature Title Date --------- ----- ---- * Director - ---------------------------------- John C. Danforth * Director - ---------------------------------- Burton A. Dole, Jr. * Director - ---------------------------------- James R. Houghton * Director - ---------------------------------- Harry P. Kamen * Director - ---------------------------------- Helene L. Kaplan - ---------------------------------- Director Catherine R. Kinney * Director - ---------------------------------- Charles M. Leighton - ---------------------------------- Director John J. Phelan, Jr. * Director - ---------------------------------- Hugh B. Price * Director - ---------------------------------- William C. Steere, Jr. *By /S/ CHRISTOPHER P. NICHOLAS August 21, 2002 --------------------------------- Christopher P. Nicholas, Esq. Attorney-in-fact
Pursuant to the requirements of the Securities Act of 1933, the Registrant, METROPOLITAN LIFE SEPARATE ACCOUNT UL, certifies that it meets all of the requirements for effectiveness of this amended Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this amended Registration Statement to be signed, on its behalf by the undersigned thereunto duly authorized, and its seal to be hereunto affixed and attested, all in the City of New York, State of New York this 21st day of August, 2002. METROPOLITAN LIFE SEPARATE ACCOUNT UL (Registrant) By: METROPOLITAN LIFE INSURANCE COMPANY (Depositor) (SEAL) By: /S/ GARY A. BELLER --------------------------------- Gary A. Beller Senior Executive Vice-President & General Counsel Attest: /S/ JAMES D. GAUGHAN ------------------------- James D. Gaughan Assistant Secretary Index to Exhibits
Exhibit Number Description ---------- ----------- 1(A)(5)(g) Forms of Illustrations for UL II 6(a) Opinion and Consent of Marian J. Zeldin
Exhibit 1(A)(5)(g) UL II ILLUSTRATIONS OF DEATH BENEFITS, CASH VALUES, SURRENDER CASH VALUES AND ACCUMULATED PREMIUMS The tables in this Exhibit illustrate the way the UL II Policies work. They show how the death benefit, cash surrender value and cash value could vary over an extended period of time assuming hypothetical gross rates of return (i.e., investment income and capital gains and losses, realized or unrealized) for the Separate Account equal to constant after tax annual rates of 0%, 6% and 12%. The tables are based on a specified face amount of $100,000 for a male aged 35. The insured is assumed to be in the nonsmoker preferred class. The tables assume no other rider benefits and assume you made no allocations to the Fixed Account. The tables reflect deductions for all Policy charges that would apply under the assumptions illustrated. These include (i) deductions from premiums for the sales charge and state and federal premium tax charge; (ii) a Monthly Deduction (consisting of an administration charge and a charge for the cost of insurance) and (iii) a daily charge assessed against the Separate Account for mortality and expense risks equivalent to an annual charge of .90% of the average daily value of the assets in the Separate Account attributable to the Policies. The cash surrender values reflect a Surrender Charge deducted from the cash value upon surrender, face reduction or lapse during the first 15 Policy years. Values are first given based on current cost of term insurance and other Policy charges and then based on guaranteed maximums for such charges. Illustrations show Option A, Option B and Option C death benefits. The illustrated death benefits, cash surrender values and cash values for a Policy would be different, either higher or lower, from the amounts shown if the actual gross rates of return averaged 0%, 6% or 12%, but varied above and below that average during the period or, if premiums were paid in other amounts or at other than annual intervals. They would also be different depending on the allocation of cash value among the Separate Account's investment divisions, if the actual gross rate of return for all investment divisions averaged 0%, 6% or 12%, but varied above or below that average for individual investment divisions. They would also differ if a Policy loan or partial withdrawal were made during the period of time illustrated, if the insured were female or in another risk classification, or if the Policies were issued in situations where distinctions between male and female insured are not permitted. For example, as a result of variations in actual returns, additional premium payments beyond those illustrated may be necessary to maintain the Policy in force for the periods shown or to realize the Policy values shown on particular illustrations even if the average rate of return is achieved. The illustrations reflect an arithmetic average of the investment advisory fees and operating expenses of the Portfolios, at an annual rate of .76% of the average daily net assets of the Portfolios. This average reflects expense reimbursements and subsides by the investment advisers of certain Portfolios that may be voluntary and of limited duration. Taking account of the average investment advisory fee and operating expenses of the Portfolios, the gross annual rates of return of 0%, 6% and 12% correspond to net investment return at constant annual rates of -1.64%, 4.27% and 10.17%, respectively. The second column of each table shows the amount you would accumulate if you separately invested the annual premium in an account that earned interest, after taxes, of 5% per year, compounded annually. If you request, we will furnish a personalized illustration reflecting the proposed insured's age, sex, underwriting classification, and the face amount or premium schedule you request. Because these and other assumptions will differ, the values shown in the personalized illustrations can differ very substantially from those shown in the tables below. Therefore, you should carefully review the information that accompanies any personalized illustration. That information will disclose all assumptions on which the personalized illustration is based. Where applicable, we will also furnish on request a personalized illustration for a Policy which is not affected by the sex of the insured. 1 Male Issue Age 35 Standard Nonsmoker Underwriting Risk Specified Face Amount: $100,000--Death Benefit Option A Current Cost of Term Insurance Charges
TOTAL CASH TOTAL CASH VALUE SURRENDER VALUE TOTAL DEATH BENEFIT Premiums Assuming Hypothetical Assuming Hypothetical Assuming Hypothetical Accumulated Gross Annual Investment Gross Annual Investment Gross Annual Investment End of at 5% Rates of Return of Rates of Return of Rates of Return of Policy Interest --------------------------- --------------------------- ---------------------------- Year Per Year 0% 6% 12% 0% 6% 12% 0% 6% 12% - ------ ----------- ------- -------- ---------- ------- -------- ---------- -------- -------- ---------- 1 $ 1,313 $ 597 $ 648 $ 700 $ 0 $ 0 $ 0 $100,000 $100,000 $ 100,000 2 2,691 1,577 1,730 1,890 977 1,130 1,290 100,000 100,000 100,000 3 4,138 2,529 2,845 3,188 1,929 2,245 2,588 100,000 100,000 100,000 4 5,657 3,465 4,009 4,619 2,865 3,409 4,019 100,000 100,000 100,000 5 7,252 4,388 5,224 6,197 3,888 4,724 5,697 100,000 100,000 100,000 6 8,928 5,281 6,477 7,922 4,781 5,977 7,422 100,000 100,000 100,000 7 10,686 6,162 7,785 9,826 5,662 7,285 9,326 100,000 100,000 100,000 8 12,533 7,015 9,137 11,911 6,615 8,737 11,511 100,000 100,000 100,000 9 14,472 7,842 10,535 14,198 7,442 10,135 13,798 100,000 100,000 100,000 10 16,508 8,642 11,980 16,708 8,342 11,680 16,408 100,000 100,000 100,000 15 23,822 12,265 20,016 33,524 12,165 19,916 33,424 100,000 100,000 100,000 20 43,399 15,109 29,501 60,686 15,109 29,501 60,686 100,000 100,000 100,000 25 62,642 16,829 40,548 104,682 16,829 40,548 104,682 100,000 100,000 140,273 40 158,550 4,151 87,087 466,531 4,151 87,087 466,531 100,000 100,000 499,188 45 209,606 0 111,681 754,346 0 111,681 754,346 0 117,265 792,063 50 274,769 0 140,670 1,203,939 0 140,670 1,203,939 0 147,703 1,264,136
IT IS EMPHASIZED THAT THE HYPOTHETICAL GROSS ANNUAL RATES OF RETURN SHOWN ABOVE ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL GROSS RATES OF RETURN MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY A POLICY OWNER, THE FREQUENCY OF PREMIUM PAYMENTS CHOSEN BY THE POLICY OWNER, AND THE INVESTMENT EXPERIENCE OF THE INVESTMENT DIVISIONS SELECTED FOR THE POLICY. THE DEATH BENEFIT, CASH VALUE AND CASH SURRENDER VALUES FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF RETURN AVERAGED 0%, 6%, AND 12% OVER A PERIOD OF YEARS, BUT VARIED ABOVE OR BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF ANY POLICY LOAN WERE MADE DURING THE PERIOD. NO REPRESENTATION CAN BE MADE BY METLIFE OR THE FUNDS THAT THOSE HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME. 2 Male Issue Age 35 Standard Nonsmoker Underwriting Risk Specified Face Amount: $100,000--Death Benefit Option A Guaranteed Cost of Term Insurance Charges
TOTAL CASH TOTAL CASH VALUE SURRENDER VALUE TOTAL DEATH BENEFIT Premiums Assuming Hypothetical Assuming Hypothetical Assuming Hypothetical Accumulated Gross Annual Investment Gross Annual Investment Gross Annual Investment End of at 5% Rates of Return of Rates of Return of Rates of Return of Policy Interest ------------------------ ------------------------ -------------------------- Year Per Year 0% 6% 12% 0% 6% 12% 0% 6% 12% - ------ ----------- ------- ------- -------- ------- ------- -------- -------- -------- -------- 1 $ 1,313 $ 473 $ 521 $ 569 $ 0 $ 0 $ 0 $100,000 $100,000 $100,000 2 2,691 1,318 1,455 1,599 718 855 999 100,000 100,000 100,000 3 4,138 2,134 2,415 2,720 1,534 1,815 2,120 100,000 100,000 100,000 4 5,657 2,921 3,400 3,938 2,321 2,800 3,338 100,000 100,000 100,000 5 7,252 3,676 4,408 5,261 3,176 3,908 4,761 100,000 100,000 100,000 6 8,928 4,397 5,437 6,699 3,897 4,937 6,199 100,000 100,000 100,000 7 10,686 5,084 6,489 8,263 4,584 5,989 7,763 100,000 100,000 100,000 8 12,533 5,734 7,561 9,963 5,334 7,161 9,563 100,000 100,000 100,000 9 14,472 6,348 8,655 11,814 5,948 8,255 11,414 100,000 100,000 100,000 10 16,508 6,921 9,767 13,830 6,621 9,467 13,530 100,000 100,000 100,000 15 23,822 9,157 15,609 27,059 9,057 15,509 26,959 100,000 100,000 100,000 20 43,399 10,021 21,721 47,987 10,021 21,721 47,987 100,000 100,000 100,000 25 62,642 8,770 27,586 82,220 8,770 27,586 82,220 100,000 100,000 110,175 40 158,550 0 29,773 361,210 0 29,773 361,210 0 100,000 386,494 45 209,606 0 6,390 582,198 0 6,390 582,198 0 100,000 611,307 50 274,769 0 0 923,686 0 0 923,686 0 0 969,869
IT IS EMPHASIZED THAT THE HYPOTHETICAL GROSS ANNUAL RATES OF RETURN SHOWN ABOVE ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL GROSS RATES OF RETURN MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY A POLICY OWNER, THE FREQUENCY OF PREMIUM PAYMENTS CHOSEN BY THE POLICY OWNER, AND THE INVESTMENT EXPERIENCE OF THE INVESTMENT DIVISIONS SELECTED FOR THE POLICY. THE DEATH BENEFIT, CASH VALUE AND CASH SURRENDER VALUES FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF RETURN AVERAGED 0%, 6%, AND 12% OVER A PERIOD OF YEARS, BUT VARIED ABOVE OR BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF ANY POLICY LOAN WERE MADE DURING THE PERIOD. NO REPRESENTATION CAN BE MADE BY METLIFE OR THE FUNDS THAT THOSE HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME. 3 Male Issue Age 35 Standard Nonsmoker Underwriting Risk Specified Face Amount: $100,000--Death Benefit Option B Current Cost of Term Insurance Charges
TOTAL CASH TOTAL CASH VALUE SURRENDER VALUE TOTAL DEATH BENEFIT Premiums Assuming Hypothetical Assuming Hypothetical Assuming Hypothetical Accumulated Gross Annual Investment Gross Annual Investment Gross Annual Investment End of at 5% Rates of Return of Rates of Return of Rates of Return of Policy Interest ------------------------ ------------------------ ---------------------------- Year Per Year 0% 6% 12% 0% 6% 12% 0% 6% 12% - ------ ----------- ------- ------- -------- ------- ------- -------- -------- -------- ---------- 1 $ 1,313 $ 596 $ 648 $ 700 $ 0 $ 0 $ 0 $100,596 $100,648 $ 100,700 2 2,691 1,575 1,728 1,888 375 528 688 101,575 101,728 101,888 3 4,138 2,524 2,840 3,182 1,424 1,740 2,082 102,524 102,840 103,182 4 5,657 3,457 3,999 4,607 2,457 2,999 3,607 103,457 103,999 104,607 5 7,252 4,374 5,208 6,177 3,374 4,208 5,177 104,374 105,208 106,177 6 8,928 5,262 6,452 7,891 4,362 5,552 6,991 105,262 106,452 107,891 7 10,686 6,135 7,750 9,779 5,335 6,950 8,979 106,135 107,750 109,779 8 12,533 6,979 9,088 11,844 6,279 8,388 11,144 106,979 109,088 111,844 9 14,472 7,794 10,467 14,102 7,194 9,867 13,502 107,794 110,467 114,102 10 16,508 8,581 11,890 16,574 8,081 11,390 16,074 108,581 111,890 116,574 15 23,822 12,093 19,708 32,969 11,993 19,608 32,869 112,093 119,708 132,969 20 43,399 14,711 28,641 58,779 14,711 28,641 58,779 114,711 128,641 158,779 25 62,642 15,999 38,355 99,176 15,999 38,355 99,176 115,999 138,355 199,176 40 158,550 21 58,062 410,151 21 58,062 410,151 100,021 158,062 510,151 45 209,606 0 45,971 637,168 0 45,971 637,168 0 145,971 737,168 50 274,769 0 9,029 981,271 0 9,029 981,271 0 109,029 1,081,271
IT IS EMPHASIZED THAT THE HYPOTHETICAL GROSS ANNUAL RATES OF RETURN SHOWN ABOVE ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL GROSS RATES OF RETURN MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY A POLICY OWNER, THE FREQUENCY OF PREMIUM PAYMENTS CHOSEN BY THE POLICY OWNER, AND THE INVESTMENT EXPERIENCE OF THE INVESTMENT DIVISIONS SELECTED FOR THE POLICY. THE DEATH BENEFIT, CASH VALUE AND CASH SURRENDER VALUES FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF RETURN AVERAGED 0%, 6%, AND 12% OVER A PERIOD OF YEARS, BUT VARIED ABOVE OR BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF ANY POLICY LOAN WERE MADE DURING THE PERIOD. NO REPRESENTATION CAN BE MADE BY METLIFE OR THE FUNDS THAT THOSE HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME. 4 Male Issue Age 35 Standard Nonsmoker Underwriting Risk Specified Face Amount: $100,000--Death Benefit Option B Guaranteed Cost of Term Insurance Charges
TOTAL CASH TOTAL CASH VALUE SURRENDER VALUE TOTAL DEATH BENEFIT Premiums Assuming Hypothetical Assuming Hypothetical Assuming Hypothetical Accumulated Gross Annual Investment Gross Annual Investment Gross Annual Investment End of at 5% Rates of Return of Rates of Return of Rates of Return of Policy Interest ----------------------- ----------------------- -------------------------- Year Per Year 0% 6% 12% 0% 6% 12% 0% 6% 12% - ------ ----------- ------ ------- -------- ------ ------- -------- -------- -------- -------- 1 $ 1,313 $ 472 $ 519 $ 567 $ 0 $ 0 $ 0 $100,472 $100,519 $100,567 2 2,691 1,313 1,450 1,593 113 250 393 101,313 101,450 101,593 3 4,138 2,123 2,403 2,705 1,023 1,303 1,605 102,123 102,403 102,705 4 5,657 2,902 3,377 3,911 1,902 2,377 2,911 102,902 103,377 103,911 5 7,252 3,646 4,371 5,216 2,646 3,371 4,216 103,646 104,371 105,216 6 8,928 4,353 5,381 6,628 3,453 4,481 5,728 104,353 105,381 106,628 7 10,686 5,023 6,408 8,155 4,223 5,608 7,355 105,023 106,408 108,155 8 12,533 5,652 7,448 9,807 4,952 6,748 9,107 105,652 107,448 109,807 9 14,472 6,240 8,500 11,593 5,640 7,900 10,993 106,240 108,500 111,593 10 16,508 6,784 9,562 13,525 6,284 9,062 13,025 106,784 109,562 113,525 15 23,822 8,795 14,947 25,844 8,695 14,847 25,744 108,795 114,947 125,844 20 43,399 9,267 20,003 44,031 9,267 20,003 44,031 109,267 120,003 144,031 25 62,642 7,431 23,622 70,550 7,431 23,622 70,550 107,431 123,622 170,550 40 158,550 0 0 240,766 0 0 240,766 0 0 340,766 45 209,606 0 0 345,599 0 0 345,599 0 0 445,599 50 274,769 0 0 486,470 0 0 486,470 0 0 586,470
IT IS EMPHASIZED THAT THE HYPOTHETICAL GROSS ANNUAL RATES OF RETURN SHOWN ABOVE ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL GROSS RATES OF RETURN MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY A POLICY OWNER, THE FREQUENCY OF PREMIUM PAYMENTS CHOSEN BY THE POLICY OWNER, AND THE INVESTMENT EXPERIENCE OF THE INVESTMENT DIVISIONS SELECTED FOR THE POLICY. THE DEATH BENEFIT, CASH VALUE AND CASH SURRENDER VALUES FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF RETURN AVERAGED 0%, 6%, AND 12% OVER A PERIOD OF YEARS, BUT VARIED ABOVE OR BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF ANY POLICY LOAN WERE MADE DURING THE PERIOD. NO REPRESENTATION CAN BE MADE BY METLIFE OR THE FUNDS THAT THOSE HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME. 5 Male Issue Age 35 Standard Nonsmoker Underwriting Risk Specified Face Amount: $100,000--Death Benefit Option C Current Cost of Term Insurance Charges
TOTAL CASH TOTAL CASH VALUE SURRENDER VALUE TOTAL DEATH BENEFIT Premiums Assuming Hypothetical Assuming Hypothetical Assuming Hypothetical Accumulated Gross Annual Investment Gross Annual Investment Gross Annual Investment End of at 5% Rates of Return of Rates of Return of Rates of Return of Policy Interest -------------------------- -------------------------- ---------------------------- Year Per Year 0% 6% 12% 0% 6% 12% 0% 6% 12% - ------ ----------- ------- ------- ---------- ------- ------- ---------- -------- -------- ---------- 1 $ 1,313 $ 596 $ 648 $ 700 $ 0 $ 0 $ 0 $100,596 $100,648 $ 100,700 2 2,691 1,575 1,728 1,888 675 828 988 101,575 101,728 101,888 3 4,138 2,524 2,840 3,182 1,624 1,940 2,282 102,524 102,840 103,182 4 5,657 3,457 3,999 4,607 2,657 3,199 3,807 103,457 103,999 104,607 5 7,252 4,374 5,208 6,177 3,574 4,408 5,377 104,374 105,208 106,177 6 8,928 5,262 6,452 7,891 4,562 5,752 7,191 105,262 106,452 107,891 7 10,686 6,135 7,750 9,779 5,435 7,050 9,079 106,135 107,750 109,779 8 12,533 6,979 9,088 11,844 6,379 8,488 11,244 106,979 109,088 111,844 9 14,472 7,794 10,467 14,102 7,294 9,967 13,602 107,794 110,467 114,102 10 16,508 8,581 11,890 16,574 8,181 11,490 16,174 108,581 111,890 116,574 15 23,822 12,093 19,708 32,969 11,993 19,608 32,869 112,093 119,708 132,969 20 43,399 14,711 28,641 58,779 14,711 28,641 58,779 114,711 128,641 158,779 25 62,642 15,999 38,355 99,176 15,999 38,355 99,176 115,999 138,355 199,176 40 158,550 0 60,773 430,704 0 60,773 430,704 0 148,470 460,853 45 209,606 0 52,558 697,136 0 52,558 697,136 0 148,470 731,992 50 274,769 0 10,548 1,113,339 0 10,548 1,113,339 0 148,470 1,169,006
IT IS EMPHASIZED THAT THE HYPOTHETICAL GROSS ANNUAL RATES OF RETURN SHOWN ABOVE ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL GROSS RATES OF RETURN MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY A POLICY OWNER, THE FREQUENCY OF PREMIUM PAYMENTS CHOSEN BY THE POLICY OWNER, AND THE INVESTMENT EXPERIENCE OF THE INVESTMENT DIVISIONS SELECTED FOR THE POLICY. THE DEATH BENEFIT, CASH VALUE AND CASH SURRENDER VALUES FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF RETURN AVERAGED 0%, 6%, AND 12% OVER A PERIOD OF YEARS, BUT VARIED ABOVE OR BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF ANY POLICY LOAN WERE MADE DURING THE PERIOD. NO REPRESENTATION CAN BE MADE BY METLIFE OR THE FUNDS THAT THOSE HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME. 6 Male Issue Age 35 Standard Nonsmoker Underwriting Risk Specified Face Amount: $100,000--Death Benefit Option C Guaranteed Cost of Term Insurance Charges
TOTAL CASH TOTAL CASH VALUE SURRENDER VALUE TOTAL DEATH BENEFIT Premiums Assuming Hypothetical Assuming Hypothetical Assuming Hypothetical Accumulated Gross Annual Investment Gross Annual Investment Gross Annual Investment End of at 5% Rates of Return of Rates of Return of Rates of Return of Policy Interest ----------------------- ----------------------- -------------------------- Year Per Year 0% 6% 12% 0% 6% 12% 0% 6% 12% - ------ ----------- ------ ------- -------- ------ ------- -------- -------- -------- -------- 1 $ 1,313 $ 472 $ 519 $ 567 $ 0 $ 0 $ 0 $100,472 $100,519 $100,567 2 2,691 1,313 1,450 1,593 413 550 693 101,313 101,450 101,593 3 4,138 2,123 2,403 2,705 1,223 1,503 1,805 102,123 102,403 102,705 4 5,657 2,902 3,377 3,911 2,102 2,577 3,111 102,902 103,377 103,911 5 7,252 3,646 4,371 5,216 2,846 3,571 4,416 103,646 104,371 105,216 6 8,928 4,353 5,381 6,628 3,653 4,681 5,928 104,353 105,381 106,628 7 10,686 5,023 6,408 8,155 4,323 5,708 7,455 105,023 106,408 108,155 8 12,533 5,652 7,448 9,807 5,052 6,848 9,207 105,652 107,448 109,807 9 14,472 6,240 8,500 11,593 5,740 8,000 11,093 106,240 108,500 111,593 10 16,508 6,784 9,562 13,525 6,384 9,162 13,125 106,784 109,562 113,525 15 23,822 8,795 14,947 25,844 8,695 14,847 25,744 108,795 114,947 125,844 20 43,399 9,267 20,003 44,031 9,267 20,003 44,031 109,267 120,003 144,031 25 62,642 7,431 23,622 70,550 7,431 23,622 70,550 107,431 123,622 170,550 40 158,550 0 0 274,749 0 0 274,749 0 0 293,981 45 209,606 0 0 444,595 0 0 444,595 0 0 466,824 50 274,769 0 0 707,092 0 0 707,092 0 0 742,446
IT IS EMPHASIZED THAT THE HYPOTHETICAL GROSS ANNUAL RATES OF RETURN SHOWN ABOVE ARE ILLUSTRATIVE ONLY AND SHOULD NOT BE DEEMED A REPRESENTATION OF PAST OR FUTURE GROSS ANNUAL RATES OF RETURN. ACTUAL GROSS RATES OF RETURN MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE BY A POLICY OWNER, THE FREQUENCY OF PREMIUM PAYMENTS CHOSEN BY THE POLICY OWNER, AND THE INVESTMENT EXPERIENCE OF THE INVESTMENT DIVISIONS SELECTED FOR THE POLICY. THE DEATH BENEFIT, CASH VALUE AND CASH SURRENDER VALUES FOR A POLICY WOULD BE DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF RETURN AVERAGED 0%, 6%, AND 12% OVER A PERIOD OF YEARS, BUT VARIED ABOVE OR BELOW THAT AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF ANY POLICY LOAN WERE MADE DURING THE PERIOD. NO REPRESENTATION CAN BE MADE BY METLIFE OR THE FUNDS THAT THOSE HYPOTHETICAL RATES OF RETURN CAN BE ACHIEVED FOR ANY ONE YEAR OR SUSTAINED OVER ANY PERIOD OF TIME. 7 Metropolitan Life Insurance Company One Madison Avenue New York, NY 10010-3690 212 578-2211 Exhibit 6(a) August 21, 2002 Metropolitan Life Insurance Company This opinion is furnished in connection with the filing of Post-Effective Amendment No. 14 to Registration Statement No. 33-47927 on Form S-6 ("Registration Statement"), which covers premiums received under the Flexible Premium Multifunded Life Insurance policies (FPMLI) offered by Metropolitan Life Insurance Company ("MLIC") in each State where they have been approved by appropriate State insurance authorities. As a Vice-President and Actuary of MLIC, I have reviewed the FPMLI forms and I am familiar with the Registration Statement and Exhibits thereto. In my opinion the illustrations of FPMLI death benefits, cash values and cash surrender values in Appendix A to the Prospectus (for UL 2001 Policies) and in Exhibit 1(A)(5)(g) (for UL II Policies) included in the Registration Statement, based on the assumptions stated therein, are consistent with the provisions of the FPMLI forms. Also, in my opinion, the amounts assumed in the illustrations for current policy charges (including UL 2001's decrease in mortality and expense risk charge after 10 years) remain reasonable, based on MLIC's current expectations. The policies have not been designed so as to make the relationship between premiums and benefits, as shown in these illustrations, appear to be disproportionately more favorable to a prospective purchaser of the FPMLI for preferred risk males age 40 (for the UL 2001 Policies) or for standard risk males age 35 (for UL II Policies), than to prospective purchasers of FPMLI for a male at other ages or in other underwriting classes or for a female. Nor have the particular illustrations shown been selected for the purpose of making that relationship appear more favorable. I hereby consent to the use of this opinion as an exhibit to the Registration Statement and to the reference to my name under the heading "Legal, Accounting and Actuarial Matters" in the prospectus contained in the Registration Statement. Very truly yours, /s/ MARIAN J. ZELDIN _____________________________________ Marian J. Zeldin Vice President and Actuary 8 -----END PRIVACY-ENHANCED MESSAGE-----