|
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% of the specified face amount
or any increase in the 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
$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, make a partial
withdrawal 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
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:
|
|||
ANNUAL FEE |
MIN. |
MAX. | ||
Investment options (
Portfolio fees
and charges) |
0.28% |
0.96% |
|
RISKS |
LOCATION IN
PROSPECTUS | ||
Risk of Loss |
You can lose money by investing in this
Policy, including loss of principal. |
“Principal Risks” | ||
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 |
An investment in the
Policy is 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 (800)
638-5000 or visiting: https://
www.metlife.com/about-us/corporate-profile/ratings. |
“Principal 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. |
“Principal Risks” | ||
|
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. |
|||
Optional Benefits |
Optional benefits were available to be elected at
Policy issue only.
Optional income plans are available upon the death of the
insured,
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 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 |
“Federal Tax Matters” | ||
|
CONFLICTS OF INTEREST |
LOCATION IN
PROSPECTUS | ||
Investment
Professional
Compensation |
“Distributing
thePolicies” | |||
Exchanges |
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 |
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% |
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% |
US Fixed Income |
BlackRock Ultra-Short Term Bond Portfolio* -
Class A
Brighthouse Investment Advisers, LLC
Subadviser: BlackRock Advisors, LLC |
0.36% |
1.44% |
1.12% |
0.68% |
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% |
FUND
TYPE |
PORTFOLIO AND
ADVISER/SUBADVISER |
CURRENT
EXPENSES |
AVERAGE ANNUAL
TOTAL RETURNS
(as of 12/31/2022) | ||
1
YEAR |
5
YEAR |
10
YEAR | |||
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% |
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% |
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% |
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% |
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% |
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% |
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 Core Portfolio* - Class A
Brighthouse Investment Advisers, LLC
Subadviser: Loomis, Sayles & Company, L.P. |
0.88% |
-15.06% |
5.32% |
9.89% |
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% |
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% |
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% |
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 |
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 |
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% |
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% |
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% |