FEES AND EXPENSES | LOCATION
IN PROSPECTUS | |||
Charges for Early Withdrawal | None | |||
Transaction Charges | You may be charged for certain transactions, such as sales charges, underwriting charges on increases in specified face amount, charges to pay for certain taxes when you make a premium payment or transfer cash value between investment options or increase your specified face amount. | “Charges and Deductions — Sales Charge; Administrative Charge; Charge for Average Expected State and Local Taxes Attributable to Premiums; Charge for Expected Federal Taxes Attributable to Premiums; and Other Charges” | ||
Ongoing Fees and Expenses (annual charges) | In
addition to charges described above, an investment in the Policy is subject to certain ongoing fees and expenses, including a mortality and expense risk charge, 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., the insured’s sex (if permitted by law and applicable under your Policy), age underwriting class and rate class. 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– Charges Included in the Monthly Deduction” “Charges and Deductions – Charges Included in the Monthly Deduction “ “Charges and Deductions –Portfolio Company Charges” | ||
ANNUAL FEE |
MIN |
MAX | ||
Investment options (Portfolio fees and charges) |
0.24% |
1.52% | ||
RISKS | LOCATION
IN PROSPECTUS | |||
Risk of Loss | You can lose money by investing in this Policy. | “Principal Risks of a Policy” | ||
Not a Short-Term Investment | The Policy is 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. | “Principal Risks of a 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 Portfolios available under the Policy. 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 a Policy” |
RISKS | LOCATION
IN PROSPECTUS | |||
Insurance Company Risks | An investment in this Policy is 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 by calling 1-877-638-3932 or by visiting https://www.metlife.com/about-us/corporate-profile/ratings/. | “Principal Risks of a Policy” | ||
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 a Policy” | ||
RESTRICTIONS | LOCATION
IN PROSPECTUS | |||
Investments | At
the present time, no charge is assessed against the cash value of a Policy when amounts are transferred among the investment divisions of the Separate Account and between the investment divisions and the Fixed Account. Policy owners may transfer
cash value between and among the investment divisions and the Fixed Account. The minimum amount you may transfer is $50 or, if less, the total amount in an investment option. You may make transfers at any time. The maximum amount that you may
transfer or withdraw from the Fixed Account in any Policy year is the greater of $50 and 25% of the largest amount in the Fixed Account over the last four Policy years. Metropolitan Life reserves 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. |
“Cash Value, Transfers and Withdrawals – Cash Value Transfers” | ||
Optional Benefits | Rider availability is subject to your employer making the rider available. | “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 Policy, both in the form of commissions and continuing payments. These investment professionals may have a financial incentive to offer or recommend the Policy over another investment. | “Sales of the Policy” |
CONFLICTS OF INTEREST | LOCATION
IN PROSPECTUS | |||
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. | “Sales of The Policy” |
• | The death benefit under the death benefit option or minimum death benefit that is in effect on the date of death; plus |
• | Any additional insurance proceeds provided by rider; minus |
• | Any unpaid Policy loans and accrued interest thereon, and any due and unpaid charges accruing during a grace period. |
• | Option A: The death benefit is a level amount and equals the specified face amount of the Policy. For example, assuming no outstanding indebtedness, if on the date of death, the Face Amount is $500,000, then the Death Benefit would be $500,0000. |
• | Option B: The death benefit varies and equals the specified face amount of the Policy plus the cash value on the date of death. For example, assuming no indebtedness, if on the date of death the Face Amount is $500,000 and Cash Value is $30,000, then the Death Benefit would be $530,000. |
• | Option C: The death benefit varies and equals the specified face amount of the Policy plus the amount by which the Policy premiums paid exceed withdrawals made. For example, assuming no indebtedness, if on the date of |
death, the Face Amount is $500,000 and the Premium Paid is $50,000 and the Withdrawal Taken is $10,000, the death benefit would be $540,000 ($500,000 + $50,000 - $10,000). |
• | Your cash surrender value after the change would be enough to pay at least two monthly deductions. |
• | The specified face amount continues to be no less than the minimum we allow after a decrease. |
• | The total premiums you have paid do not exceed the then current maximum premium limitations permitted under IRS rules. |
• | You provide evidence satisfactory to us of the insured’s insurability, as we may require. |
• | If the term insurance portion of your death benefit changes, as it may with a change from Option A to B or C and vice versa, the term insurance charge will also change. This will affect your cash value and, in some cases, the death benefit levels. |
• | If your specified face amount changes because of the change in death benefit option, consider also the issues presented by changing your specified face amount that are described under “Specified Face Amount,” below. These issues include the possibility that your Policy would become a modified endowment contract; that you would receive a taxable distribution; and that the maximum premium amounts that you can pay would change. |
• | The term insurance portion of your death benefit will change and so will the term insurance charge. This will affect the insurance charges, cash value and, in some cases, death benefit levels. |
• | Reducing your specified face amount may result in our returning an amount to you which, if it occurs during the first 15 Policy years, could then be taxed on an income first basis. |
• | The amount of additional premiums that the tax laws permit you to pay into your Policy may increase or decrease. The additional amount you can pay without causing your Policy to be a modified endowment contract for tax purposes may also increase or decrease. |
• | In some circumstances, the Policy could become a modified endowment contract. |
• | The sales charge and the administration charge may change. This is because an increase or decrease in the specified face amount will result in an increase or decrease in the annual target premium on which these charges are based. |
NAME
OF BENEFIT |
PURPOSE | IS
BENEFIT STANDARD OR OPTIONAL? |
BRIEF
DESCRIPTION OF RESTRICTIONS OR LIMITATIONS |
Interim Term Insurance Benefit Rider | This rider provides a term insurance benefit if any insured person dies on or after the date of the rider and before the date of the policy. This rider will not advance | Optional | Available only at the time you apply for the Policy. |
NAME
OF BENEFIT |
PURPOSE | IS
BENEFIT STANDARD OR OPTIONAL? |
BRIEF
DESCRIPTION OF RESTRICTIONS OR LIMITATIONS |
the time of payment of any dividend or any endowment date under the policy. | |||
Term Insurance Rider | This rider provides term insurance on the life of the insured, payable to the beneficiary if the insured dies prior to the end of the coverage period. | Optional | Available
only at the time you apply for the Policy. Rider may not be reinstated after a written request to terminate the rider is received. |
Enhanced Cash Surrender Value | The Enhanced Cash Surrender Value Rider will refund a portion of charges upon full surrender of the policy within the stated period. | Optional | Available only at the time you apply for the Policy. |
Acceleration of Death Benefit Rider | This rider provides for early payment of a portion of the face amount of insurance upon proof of terminal illness of the insured resulting in a life expectancy of 12 months or less. | Optional | Benefit
is provided to you only if elected by your employer. Available to purchase throughout the life of the policy. |
Business Exchange Rider | The Policyholder has the right to exchange insurance on the life of an Insured who is age 65 or less for insurance on the life of another. | Optional | Only
available if purchased for all of the executives in the plan at inception. Request for the exchange must be in writing. |
Refund of Sales Charge Rider | If a policy is surrendered during the first five policy years, we will refund to the policy owner any sales charge deducted within 365 days preceding the policy surrender | Optional | Available
only at the time you apply for the Policy. Not available when Enhanced Cash Value Rider is added to the policy. |
Interest Income | The amount applied to this income option will earn interest which will be paid monthly. | Standard | Withdrawals of at least $500 each may be made at any time by written request. |
Installment Income for a Stated Period | Payments under this income option will be made in monthly installment | Standard | The period chosen can be from 1 to 30 years. |
NAME
OF BENEFIT |
PURPOSE | IS
BENEFIT STANDARD OR OPTIONAL? |
BRIEF
DESCRIPTION OF RESTRICTIONS OR LIMITATIONS |
payments over a chosen period. | |||
Installment Income of a Stated Amount | Payment under this income option will be made in monthly installment payments of a chosen amount until the chosen amount applied with interest is paid. | Standard | |
Single Life Income-Guaranteed Payment Period | Payment under this income option will be made monthly during the lifetime of the payee with a chosen guaranteed payment period. | Standard | The guaranteed period can be 10, 15 or 20 years. |
Single Life Income-Guaranteed Return | Payment under this income option will be made monthly during the lifetime of the payee. | Standard | If the payee dies before the total amount applied under this plan has been paid, the remainder will be paid in one sum as a death benefit. |
Joint and Survivor Life Income | Payment
under this income option will be made monthly and paid jointly to two persons during their lifetime and will continue during the remaining lifetime of the survivor. |
Standard | A total payment period of 10 years is guaranteed. |
• | The first premium may not be less than the planned premium unless agreed to by us. |
• | After the first Policy year, your voluntary planned periodic payments must be at least $100, whether on an annual or semiannual basis. |
• | Unscheduled premium payments must be at least $100 each. We may change this minimum amount on 90 days notice to you. |
• | You may not pay premiums that exceed tax law premium limitations for life insurance policies. We will return any amounts that exceed these limits, except that we will keep any amounts that are required to keep the Policy from terminating. We will let you make premium payments that would turn your Policy into a modified endowment contract, but we will tell you of this status in your annual statement, and if possible, we will tell you how to reverse the status. |
• | We reserve the right not to sell a Policy to any group or individual associated with such group if the total amount of annual premium that is expected to be paid in connection with all Policies sold to the group or individuals associated with such group is less than $250,000. |
• | We may require evidence of insurability for premium payments that cause the minimum death benefit to exceed the death benefit then in effect under the death benefit option chosen. |
• | The Cash Surrender Value is less than the monthly deduction; and |
• | We do not receive a sufficient premium payment within the 61-day grace period to cover the monthly deduction. We will mail you notice if any grace period starts. |
• | A written application for reinstatement (the date we approve the application will be the effective date of the reinstatement). |
• | Evidence of insurability that we find satisfactory. |
• | An additional premium amount that the Policy prescribes for this purpose. |
• | the withdrawal would not result in the cash surrender value being less than sufficient to pay 2 monthly deductions; |
• | the withdrawal is at least $250; |
• | the withdrawal would not result in total premiums paid exceeding any then current maximum premium limitation determined by Code rules; and |
• | the withdrawal would not result in your specified face amount falling below the minimum allowable amount after a decrease, as described under “Insurance Proceeds — Specified Face Amount — Changing Your Specified Face Amount,” above. |
• | Amounts received may be taxable as income and, if your Policy is a modified endowment contract, subject to certain tax penalties; |
• | Your Policy could become a modified endowment contract; |
• | For partial withdrawals, your death benefit will decrease, generally by the amount of the withdrawal; |
• | For partial withdrawals, your specified face amount may also decrease. For Option A Policies, your specified face amount will decrease by the amount of the withdrawal. For Option B Policies, a withdrawal will not decrease the specified face amount. For Option C Policies, your specified face amount will decrease by the amount, if any, by which cumulative withdrawals exceed cumulative premiums paid. |
Charge | When
Charge is Deducted |
Maximum
Amount Deducted |
Current
Amount Deducted |
Maximum Sales Charge (Load) (as a percentage of annual target premium paid)(1) |
Charge | When
Charge is Deducted |
Maximum
Amount Deducted |
Current
Amount Deducted |
• Metflex(2) | On payment of premium | 9% | 6.5%
(for Policy Years 1 to 10) 3% (for Policy Years 11 and later) |
State Tax Charge (as a percentage of each premium payment) | On payment of premium | 2.25% | 2.25% |
Federal Tax Charge (as a percentage of each premium payment) | On payment of premium | 1.2% | 1.2% |
Administrative Charge | |||
• MetFlex(3) | On payment of premium | 1.05% | 0.55%
(for Policy Years 1 to 10) 1.05% (for Policy Years 11 and later) |
Transfer Fee | On transfer of cash value among Divisions or to or from the Fixed Account | $25 per transfer | Not currently charged |
Enhanced Cash Surrender Value Rider(4) | On premium payments made during the first five Policy years | 0.25% | 0.25% |
Underwriting Charge (applies only if you request an increase in your specified face amount | On face amount increase | $3 per $1,000 of increase | Not currently charged |
Interim Term Insurance Benefit | |||
Cost
of Insurance: • Minimum and Maximum Charge |
On payment of first premium if rider is elected |
$0.03 to $33.82 per $1,000 of term insurance amount |
$0.03 to $33.79 per $1,000 of term insurance amount |
• Charge for a representative insured(5) | $0.27 per $1,000 of term insurance amount | $0.15 per $1,000 of term insurance amount |
(1) | The Annual Target Premium is equal to, 100% of the estimated annual amount that satisfied the 7-Pay test based on the issue age of the insured, the specified face amount of insurance of the base Policy only (excluding the Term Rider) and standard underwriting class. (increased and decreased proportionately for increases and decreases in the specified face amount of the Policy, which could, in turn, increase or decrease sales and administrative charges.) |
(2) | For Metflex Policies the maximum sales charge is 9% of annual target premium paid for Policy Years 1 to 10 and 3% of annual target premiums paid for Policy Years 11 and later. The current sales charge for premiums paid in excess of annual target premiums in all Policy Years is 0%. |
(3) | The current administrative charge for premiums paid in excess of annual targe premiums in all Policy Years is 0.05%. |
(4) | For MetFlex Policies issued with the Enhanced Cash Surrender Value Rider if you request a full cash withdrawal during the first ten Policy years, we will refund (a) part of the cumulative charges we have deducted from your premium payments and (b) part of the cost of term insurance we have deducted in the current Policy year. This rider is subject to state approval. |
(5) | A Representative Insured is a male, issue age 47, nonsmoker, Guaranteed Issue underwriting class. |
Charge | When
Charge is Deducted |
Maximum
Amount Deducted |
Current
Amount Deducted |
Base Contract Charges | |||
Cost of Term Insurance for coverage under base policy(1)(2) | |||
• Minimum and Maximum Charge | Monthly | $0.03 to $35.30 per $1,000 of term insurance amount | $0.03 to $33.79 per $1,000 of term insurance amount |
• Charge for a representative insured.(3) | $0.27 per $1,000 of term insurance amount | $0.15 per $1,000 of term insurance amount | |
Mortality and Expense Risk Charge 4 | |||
• MetFlex | Monthly | Effective annual rate up to 0.90% | •
0.40% (Policy Years 1 to 9) • 0.20% (Policy Years 10 to 20)• 0.10% (thereafter) |
Loan Interest Spread(5) | Annually | Annual rate of 2% of the loan amount | Annual rate of 0.25% of the loan amount |
Optional Benefit Charges | |||
Disability Waiver Rider(2) | |||
• Minimum and Maximum Charge | Monthly | $0.012 to $0.092 per $1,000 of insurance amount | $0.012 to $0.092 per $1,000 of insurance amount |
• Charge for a representative insured(3) | $0.053 per $1,000 of insurance amount | $0.053 per $1,000 of insurance amount | |
Yearly Renewable Term Insurance Rider(2) | |||
• Minimum and Maximum Charge | Monthly | $0.09 to $30.45 per $1,000 of term insurance amount | $0.03 to $14.34 per $1,000 of term insurance amount |
• Charge for a representative insured(3) | $0.27 per $1,000 of term insurance amount | $0.19 per $1,000 of term insurance amount | |
Accidental Death Benefit Rider(2) | |||
• Minimum and Maximum Charge | Monthly | $0.07 to $0.116 per $1,000 of accidental death benefit amount | $0.07 to $0.116 per $1,000 of accidental death benefit amount |
• Charge for a representative insured(3) | $0.078 per $1,000 of accidental death benefit amount | $0.078 per $1,000 of accidental death benefit amount | |
Term Insurance Rider(2) | |||
• Minimum and Maximum Charge | Monthly | $0.03 to $33.82 per $1,000 of term insurance amount | $0.02 to $25.34 per $1,000 of term insurance amount |
• Charge for a representative insured(3) | $0.27 per $1,000 of term insurance amount | $0.11 per $1,000 of term insurance amount |
(1) | The cost of term insurance charge varies based on anticipated variations in our costs or risks associated with the group or individuals in the group that the charge was intended to cover. |
(2) | This charge varies based on individual characteristics of the insured or of individuals in the group that the charge was intended to cover, and may not be representative of the charge that you will pay. You can obtain more information about the charges that would apply by contacting your insurance sales representative. Your Policy will indicate the charges applicable to your Policy. If you would like, we will provide you with an illustration of the impact of these and other charges under the Policy, based on various assumptions. |
(3) | A Representative Insured is a male, issue age 47, nonsmoker, Guaranteed Issue underwriting class. |
(4) | We are waiving the following amounts of the Mortality and Expense Risk Charge: 0.08% for the Division investing in the Brighthouse/Wellington Large Cap Research Portfolio; and an amount equal to the underlying portfolio expenses that are in excess of 0.91% for the Division investing in the Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A), in excess of 1.34% for the Division investing in the Brighthouse/Artisan Mid Cap Value Portfolio (Class B), in excess of 1.15% for the Division investing in the Brighthouse Small Cap Value Portfolio (Class B), and in excess of 0.62% for the Division investing in the Invesco Global Equity Portfolio (Class A). |
(5) | We charge interest on Policy loans but credit you with interest on the amount of the cash value we hold as collateral for the loan. The loan interest spread is the excess of the interest rate we charge over the interest rate we credit. |
Minimum | Maximum | |
Annual Portfolio Expenses (expenses that are deducted from Portfolio assets, including management fees, distribution and/or service (12b-1) fees, and other expenses) | 0.24% | 1.52% |
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. | AB
VPS Global Thematic Growth Portfolio* - Class B AllianceBernstein L.P. |
1.20% | 39.08% | 17.03% | 9.67% |
Seeks to generate income and price appreciation without assuming what the Adviser considers undue risk. | AB
VPS Intermediate Bond Portfolio - Class B AllianceBernstein L.P. |
1.52% | 5.64% | 4.01% | 3.56% |
Seeks a high level of current income. Its secondary investment objective is capital appreciation. | American
Funds American High-Income Trust* (formerly known as American Funds High-Income Bond Fund) - Class 2 Capital Research and Management CompanySM |
0.58% | 7.94% | 8.34% | 5.57% |
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. | American
Funds International Fund - Class 2 Capital Research and Management CompanySM |
0.80% | 13.97% | 10.73% | 6.68% |
Seeks a high level of current income consistent with prudent investment risk and preservation of capital. | American
Funds U.S. Government Securities Fund* (formerly known as American Funds U.S. Government/AAA-Rated Securities Fund) - Class 2 Capital Research and Management CompanySM |
0.48% | 9.80% | 3.67% | 3.10% |
Seeks to maximize total return by allocating its assets among stocks, bonds, short-term instruments, and other investments. | Asset
Manager: Growth Portfolio - Service Class Fidelity Management & Research Company LLC |
0.79% | 17.09% | 10.00% | 8.45% |
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% |
INVESTMENT
OBJECTIVE |
PORTFOLIO
AND ADVISER/SUBADVISER |
CURRENT
EXPENSES |
AVERAGE
ANNUAL TOTAL RETURNS (as of 12/31/2020) | ||
1
YEAR |
5
YEAR |
10
YEAR | |||
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 B Brighthouse Investment Advisers, LLC |
0.99% | 18.91% | 12.80% | 10.36% |
Seeks a high level of current income, with growth of capital as a secondary objective. | Brighthouse
Asset Allocation 20 Portfolio* - Class B Brighthouse Investment Advisers, LLC |
0.89% | 9.52% | 5.90% | 4.98% |
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 B Brighthouse Investment Advisers, LLC |
0.88% | 11.04% | 7.57% | 6.45% |
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 B Brighthouse Investment Advisers, LLC |
0.90% | 13.85% | 9.42% | 7.92% |
Seeks long-term capital appreciation. | Brighthouse
Small Cap Value Portfolio* - Class B Brighthouse Investment Advisers, LLC Subadviser: Delaware Investments Fund Advisers; Wells Capital Management Incorporated |
1.11% | -0.57% | 9.74% | 8.09% |
Seeks capital appreciation. | Brighthouse/Aberdeen
Emerging Markets Equity Portfolio* - Class B Brighthouse Investment Advisers, LLC Subadviser: Aberdeen Asset Managers Limited |
1.19% | 27.30% | 13.55% | 3.40% |
Seeks long-term capital growth. | Brighthouse/Artisan
Mid Cap Value Portfolio* - Class B Brighthouse Investment Advisers, LLC Subadviser: Artisan Partners Limited Partnership |
1.03% | 5.98% | 9.35% | 8.82% |
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 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 long-term capital appreciation. | Contrafund
® Portfolio - Service Class Fidelity Management & Research Company LLC |
0.71% | 30.43% | 16.07% | 13.40% |
Seeks high total return by investing primarily in fixed income securities of government and government-related issuers and, to a lesser extent, of corporate issuers in emerging market countries. | Emerging
Markets Debt Portfolio - Class I Morgan Stanley Investment Management Inc. Subadviser: Morgan Stanley Investment Management Limited |
1.15% | 5.55% | 6.36% | 4.79% |
Seeks long-term capital appreciation by investing primarily in growth-oriented equity securities of issuers in emerging market countries. | Emerging
Markets Equity Portfolio* - Class I Morgan Stanley Investment Management Inc. Subadviser: Morgan Stanley Investment Management Company |
1.25% | 14.44% | 10.24% | 3.04% |
INVESTMENT
OBJECTIVE |
PORTFOLIO
AND ADVISER/SUBADVISER |
CURRENT
EXPENSES |
AVERAGE
ANNUAL TOTAL RETURNS (as of 12/31/2020) | ||
1
YEAR |
5
YEAR |
10
YEAR | |||
Seeks reasonable income. The fund will also consider the potential for capital appreciation. The fund's goal is to achieve a yield which exceeds the composite yield on the securities comprising the S&P 500® Index. | Equity-Income
Portfolio - Service Class Fidelity Management & Research Company LLC |
0.63% | 6.55% | 10.57% | 10.05% |
Seeks capital appreciation. | Franklin
Mutual Global Discovery VIP Fund - Class 2 Franklin Mutual Advisers, LLC |
1.22% | -4.46% | 5.14% | 6.27% |
Seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond. | Freedom
2020 Portfolio - Initial Class Fidelity Management & Research Company LLC |
0.53% | 15.06% | 10.00% | 8.16% |
Seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond. | Freedom
2025 Portfolio - Initial Class Fidelity Management & Research Company LLC |
0.56% | 15.95% | 10.58% | 8.89% |
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 growth of capital. | Goldman
Sachs Small Cap Equity Insights Fund* - Institutional Shares Goldman Sachs Asset Management, L.P. |
0.81% | 8.56% | 11.22% | 10.62% |
Seeks as high a level of current income as is consistent with preservation of capital and liquidity. | Government
Money Market Portfolio - Initial Class Fidelity Management & Research Company LLC |
0.24% | 0.32% | 0.97% | 0.52% |
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% |
Seeks a high level of current income, while also considering growth of capital. | High
Income Portfolio - Initial Class Fidelity Management & Research Company LLC |
0.67% | 2.72% | 6.99% | 5.58% |
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% |
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. | Invesco
Small Cap Growth Portfolio* - Class B Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers, Inc. |
1.06% | 56.76% | 19.89% | 15.72% |
Seeks capital growth and income through investments in equity securities, including common stocks, preferred stocks and securities convertible into common and preferred stocks. | Invesco
V.I. Comstock Fund - Series II Invesco Advisers, Inc. |
1.01% | -1.09% | 8.30% | 9.18% |
Seeks long-term growth of capital. | Invesco
V.I. International Growth Fund - Series I Invesco Advisers, Inc. |
0.92% | 14.00% | 8.82% | 6.72% |
Seeks as high a level of current income as is consistent with the preservation of capital. | Investment
Grade Bond Portfolio - Service Class Fidelity Management & Research Company LLC |
0.49% | 9.33% | 5.35% | 4.25% |
Seeks long-term capital growth, consistent with preservation of capital and balanced by current income. | Janus
Henderson Balanced Portfolio - Service Shares Janus Capital Management LLC |
0.87% | 14.03% | 11.53% | 9.95% |
Seeks long-term growth of capital. | Janus
Henderson Enterprise Portfolio - Service Shares Janus Capital Management LLC |
0.97% | 19.18% | 17.92% | 14.97% |
Seeks long-term growth of capital. | Janus
Henderson Forty Portfolio - Service Shares Janus Capital Management LLC |
1.01% | 39.03% | 20.73% | 16.73% |
Seeks long-term growth of capital. | Janus
Henderson Research Portfolio - Institutional Shares Janus Capital Management LLC |
0.60% | 32.95% | 17.67% | 14.67% |
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 capital growth. | JPMorgan
Small Cap Value Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: J.P. Morgan Investment Management Inc. |
0.75% | 6.34% | 8.25% | 7.17% |
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% |
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 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
® Global Equity Series* - Service Class Massachusetts Financial Services Company |
1.17% | 13.04% | 11.92% | 10.36% |
Seeks total return with an emphasis on high current income, but also considering capital appreciation. | MFS
® High Yield Portfolio* - Service Class Massachusetts Financial Services Company |
0.97% | 4.85% | 7.00% | 5.66% |
Seeks capital appreciation. | MFS
® New Discovery Series* - Service Class Massachusetts Financial Services Company |
1.12% | 45.58% | 22.68% | 14.41% |
Seeks capital appreciation. | MFS
® Research International Portfolio* - Class B Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial Services Company |
0.89% | 13.02% | 9.64% | 6.05% |
Seeks a favorable total return through investment in a diversified portfolio. | MFS
® Total Return Portfolio* - Class B Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial Services Company |
0.86% | 9.49% | 8.63% | 8.22% |
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 long-term growth of capital. | Mid
Cap Portfolio - Service Class 2 Fidelity Management & Research Company LLC |
0.87% | 17.87% | 10.79% | 9.22% |
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% |
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, 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 real capital and prudent investment management. | PIMCO
All Asset Portfolio* - Administrative Class Pacific Investment Management Company LLC Subadviser: Research Affiliates, LLC |
1.28% | 8.01% | 7.95% | 4.65% |
Seeks maximum real return, consistent with prudent investment management. | PIMCO
CommodityRealReturn® Strategy Portfolio* - Administrative Class Pacific Investment Management Company LLC |
1.24% | 1.35% | 2.67% | -5.39% |
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 preservation of capital and prudent investment management. | PIMCO
Long-Term U.S. Government Portfolio - Administrative Class Pacific Investment Management Company LLC |
0.85% | 17.39% | 7.33% | 7.31% |
Seeks maximum total return, consistent with preservation of capital and prudent investment management. | PIMCO
Low Duration Portfolio - Administrative Class Pacific Investment Management Company LLC |
0.69% | 2.99% | 2.01% | 1.79% |
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 capital appreciation by investing in a diversified portfolio of securities consisting primarily of common stocks. | Pioneer
Mid Cap Value VCT Portfolio - Class I Amundi Asset Management US, Inc. |
0.74% | 2.14% | 6.90% | 7.72% |
Seeks capital growth. Current income is a secondary objective. | Putnam
VT International Value Fund - Class IB Putnam Investment Management, LLC Subadviser: B |
1.19% | 3.94% | 5.35% | 3.97% |
Seeks long-term growth of capital. | Royce
Micro-Cap Portfolio* - Investment Class Royce Investment Partners |
1.33% | 23.79% | 11.13% | 5.05% |
Seeks long-term growth of capital. | Royce
Small-Cap Portfolio* - Investment Class Royce Investment Partners |
1.08% | -7.15% | 5.18% | 5.56% |
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. | 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 capital appreciation by investing in common stocks believed to be undervalued. Income is a secondary objective. | T.
Rowe Price Large Cap Value Portfolio* - Class A Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates, Inc. |
0.53% | 3.15% | 10.17% | 10.52% |
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 long-term capital growth. | Templeton
Foreign VIP Fund* - Class 1 Templeton Investment Counsel, LLC |
0.86% | -0.92% | 3.57% | 2.68% |
Seeks high current income, consistent with preservation of capital, with capital appreciation as a secondary consideration. | Templeton
Global Bond VIP Fund* - Class 1 Franklin Advisers, Inc. |
0.49% | -4.73% | 0.91% | 1.81% |
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% |
* | The Portfolio is subject to an expense reimbursement or fee waiver arrangement. The annual expenses shown reflect temporary fee reductions. |