|
FEES AND EXPENSES |
LOCATION IN
PROSPECTUS | ||
Charges for Early
Withdrawals |
None |
— | ||
Transaction Charges |
You may be subject to transaction charges if you surrender your
Certificate or make a partial withdrawal. You may also be
charged for other transactions, such as when you make a
premium payment or transfer
cash value between investment options, or exercise your
Accelerated Benefits Option Rider. |
“Charges and
Deductions —
Charges Deducted from Premiums; Other Charges” | ||
Ongoing Fees and
Expenses (annual
charges) |
In addition to charges described above, an investment in the
Certificate 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 Certificate and optional benefits added by
rider, and such fees and expenses are set based on
covered person, as well as the Group characteristics). There is also a
monthly administration fee. Please refer to the
specifications page of your Certificate for applicable
rates. You will also bear expenses associated with the
Portfolios available under your Certificate, as shown in the following table: |
“Charges and
Deductions – Charges
Included in the Monthly
Deduction”
“Charges and
Deductions – Charges
against the Separate
Account”
| ||
ANNUAL FEE |
MIN |
MAX | ||
Investment options (
Portfolio fees
and charges) |
0.28% |
0.85% | ||
|
RISKS |
LOCATION IN
PROSPECTUS | ||
Risk of Loss |
You can lose money by investing in this Certificate, including loss of
principal. |
“Principal Risks” | ||
Not a Short-Term
Investment |
The Certificates are designed to provide 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 a
transaction charge when surrendering the Certificate. In
addition, withdrawals may be subject to ordinary income
tax and tax penalties. |
“Principal Risks” |
Risks Associated with
Investment Options |
An investment in this Certificate is subject to the risk of poor
investment performance and can vary depending on the
performance of the
Portfolios available under the Certificate. 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” | ||
Insurance Company
Risks |
Investments in the Certificate are subject to the risks related to
Metropolitan Life, including any obligations (including
under any Fixed Account investment option), guarantees, and benefits of
the Certificate, which 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 (800) 756-0124 or by
visiting
https://www.metlife.com/about-us/corporate-profile/ratings. |
“Principal Risks” | ||
Contract Lapse |
Your Certificate 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 Certificate is
insufficient to cover the monthly deduction. Lapse of a
Certificate on which there is an outstanding loan may
have adverse tax consequences. If the Certificate lapses,
no death benefit will be paid. A Certificate may be
reinstated if the conditions for reinstatement are met
including the payment of required premiums. |
“Principal Risks” | ||
|
RESTRICTIONS |
LOCATION IN
PROSPECTUS | ||
Investments |
At the present time, no charge is assessed against the
cash value of a
Certificate when amounts are transferred among the
Divisions of the
but we reserve the right to impose a charge of $25 to cover
administrative costs incurred in processing any transfer.
Certificate
and the
Fixed Account. In some cases, the maximum amount that
you may transfer or withdraw from the
Fixed Account in any
Certificate year is the greater of: (i) $200 and (ii) 25% of the
largest amount in the
Fixed Account over the last four Certificate years (or
since the Date of Certificate if the Certificate has been
in effect for less than four years). 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
Certificate. |
|||
Optional Benefits |
Rider availability is subject to your
Employer making the rider
available. Depending upon your
Employer’s requirements, certain
Certificate riders may only be able to be added to in force
Certificates during the
Employer’s annual enrollment. With respect
to the dependent life benefit (child coverage, or
spouse coverage),
depending upon your
Employer's elected rider benefit, you may also
need to be on active status. You should check with your
Employer regarding the availability of riders and whether you need to be on
active status to elect the dependent life benefit (child coverage, or
spouse
coverage). |
“Optional Rider
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
Certificate. Withdrawals may be subject to ordinary income tax, and may be
subject to tax penalties.
Lapse of a Certificate 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 Certificate, 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 Certificates” | ||
Exchanges |
Some investment professionals may have a financial incentive to
offer you a new policy in place of your current
Certificate. You should only exchange your Certificate 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
Certificate. |
“Sales of Certificates” |
FUND
TYPE |
PORTFOLIO AND
ADVISER/SUBADVISER |
CURRENT
EXPENSES |
AVERAGE ANNUAL
TOTAL RETURNS
(as of 12/31/2022) | ||
1
YEAR |
5
YEAR |
10
YEAR | |||
International Equity |
Baillie Gifford International Stock Portfolio* -
Class A
Brighthouse Investment Advisers, LLC
Subadviser: Baillie Gifford Overseas Limited (subsidiary of Baillie Gifford & Co.) |
0.73% |
-28.60% |
-0.23% |
4.45% |
US Fixed Income |
BlackRock Bond Income Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: BlackRock Advisors, LLC |
0.38% |
-14.15% |
0.32% |
1.55% |
Allocation |
Brighthouse/Wellington Balanced Portfolio -
Class A
Brighthouse Investment Advisers, LLC
Subadviser: Wellington Management Company LLP |
0.52% |
-17.08% |
5.67% |
8.30% |
US Equity |
Brighthouse/Wellington Large Cap Research
Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Wellington Management Company LLP |
0.54% |
-19.02% |
8.82% |
12.46% |
Allocation |
Freedom 2010 Portfolio - Initial Class
Fidelity Management & Research Company LLC |
0.40% |
-13.53% |
2.80% |
4.94% |
Allocation |
Freedom 2020 Portfolio - Initial Class
Fidelity Management & Research Company LLC |
0.48% |
-15.69% |
3.73% |
6.07% |
Allocation |
Freedom 2030 Portfolio - Initial Class
Fidelity Management & Research Company LLC |
0.54% |
-16.87% |
4.61% |
7.49% |
Allocation |
Freedom 2040 Portfolio - Initial Class
Fidelity Management & Research Company LLC |
0.63% |
-18.22% |
5.89% |
8.71% |
Allocation |
Freedom 2050 Portfolio - Initial Class
Fidelity Management & Research Company LLC |
0.63% |
-18.22% |
5.89% |
8.80% |
US Equity |
Frontier Mid Cap Growth Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Frontier Capital Management Company, LLC |
0.70% |
-28.15% |
6.39% |
10.57% |
FUND
TYPE |
PORTFOLIO AND
ADVISER/SUBADVISER |
CURRENT
EXPENSES |
AVERAGE ANNUAL
TOTAL RETURNS
(as of 12/31/2022) | ||
1
YEAR |
5
YEAR |
10
YEAR | |||
Global Equity |
Invesco Global Equity Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Invesco Advisers, Inc. |
0.58% |
-31.70% |
3.03% |
8.05% |
US Fixed Income |
MetLife Aggregate Bond Index Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: MetLife Investment Management, LLC |
0.27% |
-13.09% |
-0.18% |
0.82% |
International Equity |
MetLife MSCI EAFE® Index Portfolio - Class A
Brighthouse Investment Advisers, LLC
Subadviser: MetLife Investment Management, LLC |
0.38% |
-14.47% |
1.40% |
4.39% |
US Equity |
MetLife Russell 2000® Index Portfolio - Class A
Brighthouse Investment Advisers, LLC
Subadviser: MetLife Investment Management, LLC |
0.31% |
-20.23% |
4.09% |
9.00% |
US Equity |
MetLife Stock Index Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: MetLife Investment Management, LLC |
0.26% |
-18.30% |
9.16% |
12.28% |
US Equity |
MFS® Value Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Massachusetts Financial Services Company |
0.56% |
-5.98% |
7.51% |
11.28% |
US Equity |
Morgan Stanley Discovery Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Morgan Stanley Investment Management Inc. |
0.65% |
-62.47% |
5.73% |
8.62% |
US Equity |
T. Rowe Price Small Cap Growth Portfolio - Class A
Brighthouse Investment Advisers, LLC
Subadviser: T. Rowe Price Associates, Inc. |
0.50% |
-22.15% |
6.11% |
11.35% |
US Fixed Income |
Western Asset Management Strategic Bond
Opportunities Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Western Asset Management Company, LLC (Legg Mason) |
0.55% |
-16.66% |
0.18% |
2.19% |