0001193125-23-121179.txt : 20230427 0001193125-23-121179.hdr.sgml : 20230427 20230427115856 ACCESSION NUMBER: 0001193125-23-121179 CONFORMED SUBMISSION TYPE: 497VPU PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20230427 DATE AS OF CHANGE: 20230427 EFFECTIVENESS DATE: 20230427 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Metropolitan Life Separate Account UL CENTRAL INDEX KEY: 0000858997 IRS NUMBER: 135581829 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497VPU SEC ACT: 1933 Act SEC FILE NUMBER: 333-147508 FILM NUMBER: 23853598 BUSINESS ADDRESS: STREET 1: METROPOLITAN LIFE INSURANCE COMPANY STREET 2: 200 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10166 BUSINESS PHONE: 212-578-9000 MAIL ADDRESS: STREET 1: METROPOLITAN LIFE INSURANCE COMPANY STREET 2: 200 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10166 FORMER COMPANY: FORMER CONFORMED NAME: METROPOLITAN LIFE SEPARATE ACCOUNT UL DATE OF NAME CHANGE: 19920703 0000858997 S000004219 Metropolitan Life Separate Account UL C000058203 EQUITY ADVANTAGE VUL Flexible Premium Variable Life Insurance Policies 497VPU 1 d778035d497vpu.htm METROPOLITAN LIFE SEPARATE ACCOUNT UL Metropolitan Life Separate Account UL
May 1, 2023
Updating Summary Prospectus For Investors in Equity Advantage VUL Flexible Premium Variable Life Insurance Policies
Issued by Metropolitan Life Separate Account UL of Metropolitan Life Insurance Company
This Updating Summary Prospectus includes updating information about MetLife's Equity Advantage VUL individual flexible premium variable life insurance policies (the “Policies”) issued by Metropolitan Life Insurance Company (“MetLife,” the “Company,” “we,” “us” or “our).
The Prospectus for the Policies contains more information about the Policies, including features, benefits, and risks. You can find the current Prospectus and other information about the Policies online at dfinview.com/metlife/tahd/MET000252. You can also obtain this information at no cost by calling our TeleService Center at 1-800-638-5000, or by sending an email request to RCG@metlife.com.
Additional information about certain investment products, including variable life insurance contracts, has been prepared by the Securities and Exchange Commission’s staff and is available at Investor.gov .
Please note that the Policies and the Portfolios are not guaranteed to achieve their goals, are not federally insured, are not endorsed by any bank or government agency, and are subject to risks, including the loss of the amount invested.
The Securities and Exchange Commission (“SEC”) has not approved or disapproved the Policy or determined that this Prospectus is adequate or complete. Any representation to the contrary is a criminal offense.
UPDATED INFORMATION ABOUT YOUR POLICY
The information in this Updating Summary Prospectus is a summary of certain Policy features that have changed since you last received the Prospectus dated May 1, 2022. This may not reflect all of the changes that have occurred since you entered into your Policy:
•
For changes in the names of certain Portfolios and any other changes to the 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.
IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE POLICY 
 
FEES AND EXPENSES
LOCATION IN
PROSPECTUS
Charges for Early
Withdrawal
If, during the first ten Policy years, or during the first ten Policy
years following a face amount increase, you surrender or lapse your
Policy, reduce the face amount, or make a partial withdrawal or
make a change in death benefit option that reduces the face
amount, then we will deduct a Surrender Charge from the Cash
Value.
The maximum surrender charge is 3.825% of specified face amount.
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 $3,825.
“Charges -Surrender
Charge, Partial
Withdrawal 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, make a partial
withdrawal or request an illustration if you have requested more
than one illustration in a year).
“Charges -Deductions
from Premiums,
Surrender Charge,
Partial Withdrawal
Charge, 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 fees and expenses 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 mortality and
expense risk charge deducted. You should review the policy
specifications page of your Policy for rates applicable to your Policy.
 
You will also bear expenses associated with the Portfolios available
under your Policy, as shown in the following table:
“Charges – Monthly
Deduction from Cash
Value, Charges Against
the Portfolios and the
Account”
ANNUAL FEE
MIN.
MAX.
Investment options ( Portfolio fees
and charges)
0.28%
1.04%
 
RISKS
LOCATION IN
PROSPECTUS
Risk of Loss
You can lose money by investing in this Policy, including loss of
principal.
“Principal Risks”
3
 
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. In addition, withdrawals may be subject to
ordinary income tax or tax penalties.
“Principal Risks”
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”
Insurance Company
Risks
Investments in the Policy are subject to the risks related to
Metropolitan Life, including any obligations (including under any
Fixed Account investment option), guarantees, and benefits of the
Policy, 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 1-800-638-5000 or visiting: https://
www.metlife.com/about-us/corporate-profile/ratings.
“Prinicipal Risks”
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.
“Prinicipal Risks”
 
RESTRICTIONS
LOCATION IN
PROSPECTUS
Investments
Policy Owners may transfer Cash Value between and among the
Divisions and the Fixed Account. There are limitations on transfers
from the Fixed Account and limits on the minimum amount Policy
Owners may transfer. Metropolitan Life also 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.
“Transfer Charge” and
“Transfers”
Optional Benefits
The Option to Purchase Additional Insurance Coverage Rider,
Overloan Protection Rider, Guaranteed Survivor Income Benefit
Rider and Guaranteed Minimum Death Benefit Rider were available
to be elected at Policy issue only. You may not elect both the Waiver
of Monthly Deduction Rider and the Waiver of Specified Premium
Rider.
“Additional Benefits”
4
 
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 may 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.
“Tax Considerations”
 
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.
“Distribution of 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.
“The Policies-Replacing
Existing Insurance”
5
GLOSSARY
Age. — The age of an insured refers to the insured’s age at his or her nearest birthday.
Attained Age. — The insured’s issue age plus the number of completed Policy years.
Base Policy. — The Policy without riders.
Beneficiary. — The beneficiary is the person or persons designated by the Policy Owner to receive insurance proceeds upon the death of the insured.
Cash Surrender Value. — The amount you receive if you surrender the Policy. It is equal to the Policy’s Cash Value reduced by any Surrender Charge that would apply on surrender and by any outstanding Policy loan and accrued interest.
Cash Value. — A Policy’s Cash Value includes the amount of its Cash Value held in the Separate Account, the amount held in the Fixed Account , if there is an outstanding Policy loan, the amount of its Cash Value held in the Loan Account, and any amount held in the EDCA account.
Designated Office. —  Our Designated Office varies based on the type of service request or transaction that you are making. The most recent correspondence or annual statement sent to you will have the address and telephone number that you can use to contact us for specific transactions and requests. Your premium payment bill will have the address and telephone number that you can use to pay premiums. We will notify you if there are changes to this information.
Division. — A sub-account of the Separate Account that invests in shares of an open-ended management investment company or other pools of investment assets.
Fixed Account. — The Fixed Account is a part of our general account to which you may allocate Net Premiums. It provides guarantees of principal and interest. Aspects of the Fixed Account are briefly summarized in order to give a better understanding of how the Policy functions.
Fund — An underlying mutual fund in which the Separate Account assets are invested.
General Account . — The asserts of Metropolitan Life other than those allocated to the Separate Account.
Indebtedness. — The total of any unpaid Policy loan and loan interest.
Insured. — The person upon whose life the Policy is issued.
Investment Start Date. — This is the later of the Policy Date and the date we first receive a Premium payment for the Policy.
Issue Age. — The age of the insured as of his or her birthday nearest to the Policy Date.
Loan Account. — The account to which Cash Value from the Separate and/or Fixed Accounts is transferred when a Policy loan is taken.
Monthly Anniversary. — The same date in each month as the Policy Date. For purposes of the Separate Account, whenever the monthly anniversary date falls on a date other than a valuation date, the next valuation date will be deemed to be the monthly anniversary .
6
Net Cash Value. — The Policy’s Cash Value less any outstanding loans and accrued loan interest.
Net Premium . — The Net Premium is equal to the Premium payment minus the sales charge, the Premium tax charge, and the federal tax charge.
Planned Premium. — The Planned Premium is the Premium payment schedule you choose to help meet your future goals under the Policy. The Planned Premium consists of a first-year Premium amount and an amount for Premium payments in subsequent Policy years. It is subject to certain limits under the Policy.
Policy Date. — The date on which coverage under the Policy and Monthly Deductions begin. If you make a Premium payment with the application, unless you request otherwise, the Policy Date is generally the date the Policy application is approved. If you choose to pay the initial Premium upon delivery of the Policy, unless you request otherwise, the Policy Date is generally the date on which we receive your initial payment. The Policy Date is used to measure Policy years, Policy months, and Policy anniversaries.
Policy Year  — A Policy Year is a 12 month period between the anniversaries of a Policy. The first policy year starts on the Policy Date.
Portfolio — A portfolio represents a class (or series) of stock of a Fund in which a Division’s assets are invested.
Premiums.  — Premiums include all payments under the Policy, whether a Planned Premium or an unscheduled payment.
Separate Account. — Metropolitan Life Separate Account UL, a separate account established by MetLife to receive and invest Premiums paid under the Policies and certain other variable life insurance policies, and to provide variable benefits.
Target Premium . — We use the Target Premium to determine the amount of Mortality and Expense Risk Charge imposed on the Separate Account and the amount of Sales Charge imposed on Premium payments. The Target Premium varies by issue age, sex (except for unisex Policies), smoking status and any flat extras and substandard rating of the insured, and the Policy’s base face amount, with additional amounts for most riders.
You. — “You” refers to the Policy Owner.
7
APPENDIX A: PORTFOLIOS AVAILABLE UNDER THE POLICY
The following is a list of the Portfolios currently available under the Policy. More information about the Portfolios is available in the prospectuses for the Portfolios, which may be amended from time to time and can be found online at dfinview.com/metlife/tahd/MET000252. You can also request this information at no cost by calling 800-638-5000 or by sending an email request to RCG@metlife.com. Updated performance information is available at www.metlife.com.
The current expenses and performance information below reflects fees and expenses of the Portfolios, but does not reflect the other fees and expenses that the Policy may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Portfolio’s past performance is not necessarily an indication of future performance. 
FUND
TYPE
PORTFOLIO AND
ADVISER/SUBADVISER
CURRENT
EXPENSES
AVERAGE ANNUAL
TOTAL RETURNS
(as of 12/31/2022)
1
YEAR
5
YEAR
10
YEAR
Allocation
AB Global Dynamic Allocation Portfolio* - Class B
Brighthouse Investment Advisers, LLC
Subadviser: AllianceBernstein L.P
0.89%
-20.43%
0.26%
3.65%
Global Equity
American Funds Global Small Capitalization
Fund* - Class 2
Capital Research and Management CompanySM
0.91%
-29.55%
2.79%
6.84%
US Equity
American Funds Growth Fund - Class 2
Capital Research and Management CompanySM
0.59%
-29.94%
11.14%
13.64%
US Equity
American Funds Growth-Income Fund - Class 2
Capital Research and Management CompanySM
0.53%
-16.50%
7.83%
11.54%
US Fixed Income
American Funds The Bond Fund of America* -
Class 2
Capital Research and Management CompanySM
0.46%
-12.58%
0.76%
1.36%
Allocation
American Funds® Balanced Allocation Portfolio -
Class B
Brighthouse Investment Advisers, LLC
0.66%
-16.53%
4.61%
7.18%
Allocation
American Funds® Growth Allocation Portfolio -
Class B
Brighthouse Investment Advisers, LLC
0.69%
-18.37%
5.46%
8.74%
Allocation
American Funds® Moderate Allocation Portfolio -
Class B
Brighthouse Investment Advisers, LLC
0.63%
-14.41%
3.79%
5.86%
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%
US Equity
BlackRock Capital Appreciation Portfolio* -
Class A
Brighthouse Investment Advisers, LLC
Subadviser: BlackRock Advisors, LLC
0.63%
-37.61%
7.68%
11.66%
A-1
FUND
TYPE
PORTFOLIO AND
ADVISER/SUBADVISER
CURRENT
EXPENSES
AVERAGE ANNUAL
TOTAL RETURNS
(as of 12/31/2022)
1
YEAR
5
YEAR
10
YEAR
Allocation
BlackRock Global Tactical Strategies Portfolio* -
Class B
Brighthouse Investment Advisers, LLC
Subadviser: BlackRock Financial Management,
Inc.
0.94%
-18.89%
0.79%
3.69%
Allocation
Brighthouse Asset Allocation 100 Portfolio -
Class A
Brighthouse Investment Advisers, LLC
0.73%
-19.89%
5.44%
8.94%
Allocation
Brighthouse Asset Allocation 20 Portfolio* -
Class A
Brighthouse Investment Advisers, LLC
0.63%
-12.54%
1.78%
2.96%
Allocation
Brighthouse Asset Allocation 40 Portfolio - Class A
Brighthouse Investment Advisers, LLC
0.62%
-13.63%
2.82%
4.64%
Allocation
Brighthouse Asset Allocation 60 Portfolio - Class A
Brighthouse Investment Advisers, LLC
0.65%
-15.17%
3.94%
6.33%
Allocation
Brighthouse Asset Allocation 80 Portfolio - Class A
Brighthouse Investment Advisers, LLC
0.68%
-17.71%
4.79%
7.79%
Allocation
Brighthouse Balanced Plus Portfolio - Class B
Brighthouse Investment Advisers, LLC
Subadviser: Pacific Investment Management
Company LLC
0.93%
-21.81%
1.61%
5.26%
International Equity
Brighthouse/abrdn Emerging Markets Equity
Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Aberdeen Asset Managers Limited
0.94%
-25.58%
-1.19%
0.43%
US Equity
Brighthouse/Artisan Mid Cap Value Portfolio* -
Class A
Brighthouse Investment Advisers, LLC
Subadviser: Artisan Partners Limited
Partnership
0.76%
-12.62%
4.82%
8.29%
Global Fixed Income
Brighthouse/Templeton International Bond
Portfolio - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Franklin Advisers, Inc.
0.70%
-4.42%
-2.48%
-1.23%
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 Core Equity Opportunities
Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Wellington Management Company
LLP
0.61%
-5.08%
11.45%
12.78%
A-2
FUND
TYPE
PORTFOLIO AND
ADVISER/SUBADVISER
CURRENT
EXPENSES
AVERAGE ANNUAL
TOTAL RETURNS
(as of 12/31/2022)
1
YEAR
5
YEAR
10
YEAR
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%
Sector
CBRE Global Real Estate Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: CBRE Investment Management
Listed Real Assets LLC
0.64%
-24.71%
2.06%
3.77%
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%
International Equity
Harris Oakmark International Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Harris Associates L.P.
0.72%
-15.78%
-1.70%
4.41%
Alternative
Invesco Balanced-Risk Allocation Portfolio* -
Class B
Brighthouse Investment Advisers, LLC
Subadviser: Invesco Advisers, Inc.
0.92%
-12.41%
2.68%
3.75%
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 Equity
Invesco Small Cap Growth Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Invesco Advisers, Inc.
0.81%
-35.04%
4.47%
10.10%
US Equity
Jennison Growth Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Jennison Associates LLC
0.54%
-38.87%
8.40%
13.05%
Allocation
JPMorgan Global Active Allocation Portfolio* -
Class B
Brighthouse Investment Advisers, LLC
Subadviser: J.P. Morgan Investment
Management Inc.
0.97%
-17.54%
1.94%
4.70%
US Equity
JPMorgan Small Cap Value Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: J.P. Morgan Investment
Management Inc.
0.75%
-13.21%
4.82%
8.30%
Allocation
Loomis Sayles Global Allocation Portfolio* -
Class A
Brighthouse Investment Advisers, LLC
Subadviser: Loomis, Sayles & Company, L.P.
0.78%
-23.12%
4.21%
7.00%
US Equity
Loomis Sayles Growth Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Loomis, Sayles & Company, L.P.
0.57%
-27.86%
5.54%
10.34%
US Equity
Loomis Sayles Small Cap Core Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Loomis, Sayles & Company, L.P.
0.88%
-15.06%
5.32%
9.89%
A-3
FUND
TYPE
PORTFOLIO AND
ADVISER/SUBADVISER
CURRENT
EXPENSES
AVERAGE ANNUAL
TOTAL RETURNS
(as of 12/31/2022)
1
YEAR
5
YEAR
10
YEAR
US Equity
Loomis Sayles Small Cap Growth Portfolio* -
Class A
Brighthouse Investment Advisers, LLC
Subadviser: Loomis, Sayles & Company, L.P.
0.86%
-22.96%
7.75%
11.62%
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%
US Equity
MetLife Mid Cap Stock Index Portfolio - Class A
Brighthouse Investment Advisers, LLC
Subadviser: MetLife Investment Management,
LLC
0.29%
-13.26%
6.45%
10.51%
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%
Allocation
MetLife Multi-Index Targeted Risk Portfolio -
Class B
Brighthouse Investment Advisers, LLC
Subadviser: MetLife Investment Management,
LLC
0.65%
-21.09%
0.83%
4.36%
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%
International Equity
MFS® Research International Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Massachusetts Financial Services
Company
0.64%
-17.30%
3.08%
5.02%
Allocation
MFS® Total Return Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Massachusetts Financial Services
Company
0.60%
-9.63%
5.19%
7.39%
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%
A-4
FUND
TYPE
PORTFOLIO AND
ADVISER/SUBADVISER
CURRENT
EXPENSES
AVERAGE ANNUAL
TOTAL RETURNS
(as of 12/31/2022)
1
YEAR
5
YEAR
10
YEAR
US Equity
Neuberger Berman Genesis Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Neuberger Berman Investment
Advisers LLC
0.80%
-19.15%
7.70%
10.74%
Alternative
PanAgora Global Diversified Risk Portfolio* -
Class B
Brighthouse Investment Advisers, LLC
Subadviser: PanAgora Asset Management, Inc.
0.96%
-25.66%
-0.05%
0.00%
US Fixed Income
PIMCO Inflation Protected Bond Portfolio -
Class A
Brighthouse Investment Advisers, LLC
Subadviser: Pacific Investment Management
Company LLC
0.77%
-11.60%
2.09%
0.99%
US Fixed Income
PIMCO Total Return Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Pacific Investment Management
Company LLC
0.49%
-14.34%
0.04%
1.07%
Allocation
Schroders Global Multi-Asset Portfolio - Class B
Brighthouse Investment Advisers, LLC
Subadviser: Schroder Investment Management
North America Inc.
0.95%
-20.17%
-0.01%
3.56%
Allocation
SSGA Growth and Income ETF Portfolio - Class A
Brighthouse Investment Advisers, LLC
Subadviser: SSGA Funds Management, Inc.
0.54%
-15.09%
3.60%
5.67%
Allocation
SSGA Growth ETF Portfolio - Class A
Brighthouse Investment Advisers, LLC
Subadviser: SSGA Funds Management, Inc.
0.57%
-15.67%
4.38%
6.91%
US Equity
T. Rowe Price Large Cap Growth Portfolio* -
Class A
Brighthouse Investment Advisers, LLC
Subadviser: T. Rowe Price Associates, Inc.
0.57%
-40.46%
4.93%
11.29%
US Equity
T. Rowe Price Mid Cap Growth Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: T. Rowe Price Associates, Inc.
0.70%
-22.33%
7.44%
12.18%
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%
Sector
VanEck Global Natural Resources Portfolio* -
Class A
Brighthouse Investment Advisers, LLC
Subadviser: Van Eck Associates Corporation
0.75%
8.24%
4.67%
0.93%
US Equity
Victory Sycamore Mid Cap Value Portfolio* -
Class A
Brighthouse Investment Advisers, LLC
Subadviser: Victory Capital Management, Inc.
0.59%
-2.45%
10.12%
10.43%
A-5
FUND
TYPE
PORTFOLIO AND
ADVISER/SUBADVISER
CURRENT
EXPENSES
AVERAGE ANNUAL
TOTAL RETURNS
(as of 12/31/2022)
1
YEAR
5
YEAR
10
YEAR
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%
US Fixed Income
Western Asset Management U.S. Government
Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Western Asset Management
Company, LLC
(Legg Mason)
0.49%
-9.01%
0.19%
0.68%
*
The Portfolio is subject to an expense reimbursement or fee waiver arrangement. The annual expenses shown reflect temporary fee reductions.
Index SelectorSM: If You elect the Index SelectorSM You are limited to allocating your purchase payments and Account Balance among the following funding options and the Fixed Account:
MetLife Aggregate Bond Index
MetLife MSCI EAFE Index
MetLife Stock Index
MetLife Mid Cap Stock Index
MetLife Russell 2000 Index
A-6
 
 
This Updating Summary Prospectus incorporates by reference all of the information contained in the Prospectus and the Statement of Additional Information, dated the same date as this Updating Summary Prospectus, and which are legally part of this Updating Summary Prospectus. You can obtain the Prospectus and Statement of Additional Information, without charge, by calling our TeleService Center at 1-800-638-5000, by going online at dfinview.com/metlife/tahd/MET000252, or by sending an email request to RCG@metlife.com. For Division transfers and Premium reallocations, for current information about your Policy values, to change or update Policy information such as your billing address, billing mode, beneficiary or ownership, for information about other Policy transactions, and to ask questions about your Policy, you may call us at 1-800-638-5000.
EDGAR ID: C000058203
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