• | For changes in the names of certain Portfolios please refer to Appendix A. |
• | For updated Portfolio expense information please refer to “Important Information You Should Consider About the Policy” and Appendix A. |
• | For updated Portfolio performance information please refer to Appendix A. |
FEES AND EXPENSES | LOCATION
IN PROSPECTUS | |||
Charges for Early Withdrawals | A
surrender charge will be deducted from the cash value if the Policy is surrendered or terminated after a grace period during the first fifteen (15) Policy years. A surrender charge will also be deducted upon surrender or termination of a Policy
during the first fifteen (15) Policy years after an increase in the specified face amount of a Policy. In each case, the amount of the surrender charge is based on a charge per thousand dollars of specified face amount of the Policy. The maximum surrender charge is 4%. For example, the maximum surrender charge during the first year after issue (or a specified face amount increase), assuming an initial face amount (or subsequent specified face amount increase) of $100,000, is $4,000. |
“Charges and Deductions – Surrender Charge” | ||
Transaction Charges | In addition to surrender charges, you also may be charged for other transactions (such as when you make a premium payment or transfer cash value between investment options or request more than one illustration in a year). | “Charges and Deductions – Premium Expense Charges “and” “Charges and Deductions - Transfer Charge” | ||
Ongoing Fees and Expenses (annual charges) | In
addition to surrender charges and transaction charges, an investment in the Policy is subject to certain ongoing fees and expenses, including a mortality and expense risk charge and a monthly deduction covering the cost of insurance under the
Policy and optional benefits added by rider, and such fees and expenses are set based on characteristics of the insured (e.g., age, sex and risk classification). There is also a monthly administration fee. Please refer to the specifications page of
your Policy for applicable rates. You will also bear expenses associated with the Portfolios available under your Policy, as shown in the following table: |
“Charges
and Deductions – Monthly Deduction from Cash Value” “Charges and Deductions – Charges Against the Separate Account” | ||
ANNUAL FEE | MIN. | MAX. | ||
Investment options (Portfolio fees and charges) |
0.28% |
0.99% | ||
RISKS | LOCATION
IN PROSPECTUS | |||
Risk of Loss | You can lose money by investing in this Policy. | “Principal Risks of the Policy” |
RISKS | LOCATION
IN PROSPECTUS | |||
Not a Short- Term Investment | The Policies are designed to provide lifetime insurance protection. They should not be used as a short-term investment or if you need ready access to cash, because you will be charged when you make premium payments and you may also pay surrender charges when surrendering the Policy. | “Principal Risks of the Policy” | ||
Risks Associated with Investment Options | An investment in this Policy is subject to the risk of poor investment performance and can vary depending on the performance of the investment options available under the Policy (e.g., Portfolios). Each investment option (including any fixed account investment option) has its own unique risks. You should review the investment options before making an investment decision. | “Principal Risks of the Policy” | ||
Insurance Company Risks | Policies are subject to the risks related to Metropolitan Life, including any obligations (including under any fixed account investment options), guarantees, and benefits of the Policy are subject to the claims paying ability of Metropolitan Life. If Metropolitan Life experiences financial distress, it may not be able to meet its obligations to you. More information about Metropolitan Life, including its financial strength ratings, is available upon request from 1-800-638-5000 or visiting: https://www.metlife.com/about-us/corporate-profile/ratings/. | “The Company, the Separate Account and the Portfolios -The Company” | ||
Contract Lapse | Your Policy may lapse if you have paid an insufficient amount of premiums or if the investment experience of the Portfolios is poor and the cash surrender value under your Policy is insufficient to cover the monthly deduction. Lapse of a Policy on which there is an outstanding loan may have adverse tax consequences. If the Policy lapses, no death benefit will be paid. A Policy may be reinstated if the conditions for reinstatement are met including the payment of required premiums. | “Principal Risks of the Policy” | ||
RESTRICTIONS | LOCATION
IN PROSPECTUS | |||
Investments | Policy
Owners may transfer cash value between and among the investment divisions and the Fixed Account. Metropolitan Life reserves the right to limit transfers to four (4) per Policy year and to impose a charge of $25 per transfer. Restrictions may apply
to frequent transfers. Metropolitan Life reserves the right to remove or substitute portfolio companies as investment options that are available under the Policy. |
“Payment and Allocation of Premiums – Cash Value Transfers” | ||
Optional Benefits | Optional benefits were available to be elected at Policy issue only. Optional Income Benefits are available upon the Death of the Insured. When the Policy reaches its Final Date and if a Policy is surrendered for its Cash Surrender Value. | “Policy Benefits – Optional Benefits” | ||
TAXES | LOCATION
IN PROSPECTUS | |||
Tax Implications | Consult
with a tax professional to determine the tax implications of an investment in and payments received under this Policy. Withdrawals will be subject to ordinary income tax, and may be subject to tax penalties. Lapse of a Policy on which there is an outstanding loan may have adverse tax consequences |
“Federal Tax Matters” |
CONFLICTS OF INTEREST | LOCATION
IN PROSPECTUS | |||
Investment Professional Compensation | Your investment professional may receive compensation relating to your ownership of a Policy, both in the form of commissions and continuing payments. This conflict of interest may influence your investment professional when advising you on your Policy. | “Distributing the Policies” | ||
Exchanges | Some investment professionals may have a financial incentive to offer you a new policy in place of your current Policy. You should only exchange your Policy if you determine, after comparing the features, fees, and risks of both policies, that it is better for you to purchase the new policy rather than continue to own your existing Policy. | “Distributing
the Policies” “Exchange Privilege” |
INVESTMENT
OBJECTIVE |
PORTFOLIO
AND ADVISER/SUBADVISER |
CURRENT
EXPENSES |
AVERAGE
ANNUAL TOTAL RETURNS (as of 12/31/2020) | ||
1
YEAR |
5
YEAR |
10
YEAR | |||
Seeks long-term growth of capital. | American
Funds Global Small Capitalization Fund - Class 2 Capital Research and Management CompanySM |
0.99% | 29.72% | 14.43% | 9.43% |
Seeks growth of capital. | American
Funds Growth Fund - Class 2 Capital Research and Management CompanySM |
0.61% | 52.10% | 22.75% | 16.85% |
Seeks long-term growth of capital and income. | American
Funds Growth-Income Fund - Class 2 Capital Research and Management CompanySM |
0.55% | 13.54% | 13.93% | 12.74% |
Seeks as high a level of current income as is consistent with the preservation of capital. | American
Funds The Bond Fund of America* (formerly known as American Funds Bond Fund) - Class 2 Capital Research and Management CompanySM |
0.46% | 9.73% | 4.92% | 3.92% |
Seeks long-term growth of capital. | Baillie
Gifford International Stock Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Baillie Gifford Overseas Limited |
0.72% | 26.58% | 14.72% | 7.64% |
Seeks a competitive total return primarily from investing in fixed-income securities. | BlackRock
Bond Income Portfolio - Class A Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC |
0.39% | 8.60% | 4.99% | 4.57% |
Seeks long-term growth of capital. | BlackRock
Capital Appreciation Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC |
0.63% | 40.66% | 20.74% | 15.29% |
Seeks a high level of current income consistent with preservation of capital. | BlackRock
Ultra-Short Term Bond Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC |
0.36% | 0.43% | 1.12% | 0.56% |
Seeks growth of capital. | Brighthouse
Asset Allocation 100 Portfolio - Class A Brighthouse Investment Advisers, LLC |
0.74% | 19.23% | 13.08% | 10.62% |
Seeks a high level of current income, with growth of capital as a secondary objective. | Brighthouse
Asset Allocation 20 Portfolio* - Class A Brighthouse Investment Advisers, LLC |
0.64% | 9.70% | 6.15% | 5.25% |
INVESTMENT
OBJECTIVE |
PORTFOLIO
AND ADVISER/SUBADVISER |
CURRENT
EXPENSES |
AVERAGE
ANNUAL TOTAL RETURNS (as of 12/31/2020) | ||
1
YEAR |
5
YEAR |
10
YEAR | |||
Seeks high total return in the form of income and growth of capital, with a greater emphasis on income. | Brighthouse
Asset Allocation 40 Portfolio - Class A Brighthouse Investment Advisers, LLC |
0.63% | 11.31% | 7.84% | 6.71% |
Seeks a balance between a high level of current income and growth of capital, with a greater emphasis on growth of capital. | Brighthouse
Asset Allocation 60 Portfolio - Class A Brighthouse Investment Advisers, LLC |
0.65% | 14.09% | 9.70% | 8.19% |
Seeks growth of capital. | Brighthouse
Asset Allocation 80 Portfolio - Class A Brighthouse Investment Advisers, LLC |
0.69% | 17.01% | 11.60% | 9.61% |
Seeks long-term capital growth. | Brighthouse/Artisan
Mid Cap Value Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Artisan Partners Limited Partnership |
0.78% | 6.25% | 9.62% | 9.10% |
Seeks long-term capital appreciation with some current income. | Brighthouse/Wellington
Balanced Portfolio - Class A Brighthouse Investment Advisers, LLC Subadviser: Wellington Management Company LLP |
0.53% | 17.72% | 11.41% | 10.60% |
Seeks to provide a growing stream of income over time and, secondarily, long-term capital appreciation and current income. | Brighthouse/Wellington
Core Equity Opportunities Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Wellington Management Company LLP |
0.61% | 11.27% | 13.22% | 11.80% |
Seeks long-term capital appreciation. | Brighthouse/Wellington
Large Cap Research Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Wellington Management Company LLP |
0.55% | 22.27% | 14.95% | 13.87% |
Seeks total return through investment in real estate securities, emphasizing both capital appreciation and current income. | Clarion
Global Real Estate Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: CBRE Clarion Securities LLC |
0.64% | -4.78% | 4.15% | 5.50% |
Seeks maximum capital appreciation. | Frontier
Mid Cap Growth Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Frontier Capital Management Company, LLC |
0.73% | 31.70% | 16.91% | 13.57% |
Seeks long-term capital appreciation. | Harris
Oakmark International Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Harris Associates L.P. |
0.76% | 5.37% | 7.30% | 6.48% |
INVESTMENT
OBJECTIVE |
PORTFOLIO
AND ADVISER/SUBADVISER |
CURRENT
EXPENSES |
AVERAGE
ANNUAL TOTAL RETURNS (as of 12/31/2020) | ||
1
YEAR |
5
YEAR |
10
YEAR | |||
Seeks capital appreciation. | Invesco
Global Equity Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers, Inc. |
0.57% | 27.92% | 15.13% | 11.83% |
Seeks long-term growth of capital. | Invesco
Small Cap Growth Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers, Inc. |
0.81% | 57.24% | 20.20% | 16.02% |
Seeks long-term growth of capital. | Jennison
Growth Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Jennison Associates LLC |
0.54% | 56.80% | 23.52% | 18.67% |
Seeks long-term growth of capital. | Loomis
Sayles Growth Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Loomis, Sayles & Company, L.P. |
0.57% | 32.54% | 13.33% | 14.42% |
Seeks long-term capital growth from investments in common stocks or other equity securities. | Loomis
Sayles Small Cap Core Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Loomis, Sayles & Company, L.P. |
0.90% | 12.07% | 11.45% | 11.07% |
Seeks long-term capital growth. | Loomis
Sayles Small Cap Growth Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Loomis, Sayles & Company, L.P. |
0.88% | 34.34% | 18.26% | 15.03% |
Seeks to track the performance of the Bloomberg Barclays U.S. Aggregate Bond Index. | MetLife
Aggregate Bond Index Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment Advisors, LLC |
0.27% | 7.21% | 4.21% | 3.58% |
Seeks to track the performance of the Standard & Poor’s MidCap 400® Composite Stock Price Index. | MetLife
Mid Cap Stock Index Portfolio - Class A Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment Advisors, LLC |
0.32% | 13.39% | 12.08% | 11.25% |
Seeks to track the performance of the MSCI EAFE® Index. | MetLife
MSCI EAFE® Index Portfolio - Class A Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment Advisors, LLC |
0.39% | 7.85% | 7.46% | 5.33% |
Seeks to track the performance of the Russell 2000® Index. | MetLife
Russell 2000® Index Portfolio - Class A Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment Advisors, LLC |
0.33% | 19.62% | 13.22% | 11.21% |
Seeks to track the performance of the Standard & Poor’s 500® Composite Stock Price Index. | MetLife
Stock Index Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment Advisors, LLC |
0.27% | 18.10% | 14.93% | 13.60% |
Seeks capital appreciation. | MFS
® Research International Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial Services Company |
0.64% | 13.28% | 9.91% | 6.32% |
Seeks a favorable total return through investment in a diversified portfolio. | MFS
® Total Return Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial Services Company |
0.61% | 9.76% | 8.90% | 8.49% |
INVESTMENT
OBJECTIVE |
PORTFOLIO
AND ADVISER/SUBADVISER |
CURRENT
EXPENSES |
AVERAGE
ANNUAL TOTAL RETURNS (as of 12/31/2020) | ||
1
YEAR |
5
YEAR |
10
YEAR | |||
Seeks capital appreciation. | MFS
® Value Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial Services Company |
0.58% | 3.96% | 10.43% | 11.24% |
Seeks capital appreciation. | Morgan
Stanley Discovery Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Morgan Stanley Investment Management Inc. |
0.63% | 153.77% | 38.34% | 21.41% |
Seeks high total return, consisting principally of capital appreciation. | Neuberger
Berman Genesis Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Neuberger Berman Investment Advisers LLC |
0.85% | 25.11% | 15.77% | 12.93% |
Seeks maximum real return, consistent with preservation of capital and prudent investment management. | PIMCO
Inflation Protected Bond Portfolio - Class A Brighthouse Investment Advisers, LLC Subadviser: Pacific Investment Management Company LLC |
0.78% | 11.85% | 5.33% | 3.72% |
Seeks maximum total return, consistent with the preservation of capital and prudent investment management. | PIMCO
Total Return Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Pacific Investment Management Company LLC |
0.56% | 8.82% | 4.98% | 4.05% |
Seeks growth of capital and income. | SSGA
Growth and Income ETF Portfolio - Class A Brighthouse Investment Advisers, LLC Subadviser: SSGA Funds Management, Inc. |
0.51% | 10.14% | 8.80% | 7.50% |
Seeks growth of capital. | SSGA
Growth ETF Portfolio - Class A Brighthouse Investment Advisers, LLC Subadviser: SSGA Funds Management, Inc. |
0.55% | 11.06% | 9.87% | 8.30% |
Seeks long-term growth of capital. | T.
Rowe Price Large Cap Growth Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates, Inc. |
0.58% | 36.95% | 19.34% | 16.96% |
Seeks long-term growth of capital. | T.
Rowe Price Mid Cap Growth Portfolio - Class A Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates, Inc. |
0.78% | 24.30% | 16.36% | 14.77% |
Seeks long-term capital growth. | T.
Rowe Price Small Cap Growth Portfolio - Class A Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates, Inc. |
0.50% | 24.34% | 16.27% | 14.83% |
Seeks high total return by investing in equity securities of mid-sized companies. | Victory
Sycamore Mid Cap Value Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Victory Capital Management Inc. |
0.60% | 7.87% | 9.81% | 8.80% |
Seeks to maximize total return consistent with preservation of capital. | Western
Asset Management Strategic Bond Opportunities Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Western Asset Management Company |
0.55% | 6.92% | 6.71% | 5.55% |
INVESTMENT
OBJECTIVE |
PORTFOLIO
AND ADVISER/SUBADVISER |
CURRENT
EXPENSES |
AVERAGE
ANNUAL TOTAL RETURNS (as of 12/31/2020) | ||
1
YEAR |
5
YEAR |
10
YEAR | |||
Seeks to maximize total return consistent with preservation of capital and maintenance of liquidity. | Western
Asset Management U.S. Government Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: Western Asset Management Company |
0.48% | 5.24% | 3.07% | 2.68% |
* | The Portfolio is subject to an expense reimbursement or fee waiver arrangement. The annual expenses shown reflect temporary fee reductions. |