FIRST METLIFE INVESTORS INSURANCE COMPANY
FIRST METLIFE INVESTORS VARIABLE ANNUITY ACCOUNT ONE
SUPPLEMENT DATED MAY 1, 2016
TO
PROSPECTUS DATED APRIL 30, 2012 (AS SUPPLEMENTED)
This supplement revises information in the prospectus dated April 30, 2012 (as
supplemented) for the Class C (offered on and after October 7, 2011) variable
annuity contracts issued by First MetLife Investors Insurance Company ("we,"
"us," or "our"). This supplement should be read in its entirety and kept
together with your prospectus for future reference. If you would like another
copy of the prospectus, write to us at 11225 North Community House Road,
Charlotte, NC 28277 or call us at (800) 343-8496 to request a free copy. Upon
request, financial statements for First MetLife Investors Insurance Company
will be sent to you without charge.
1. MONEY MARKET PORTFOLIO
Throughout the prospectus, replace "money market Investment Portfolio" and
"BlackRock Money Market Investment Portfolio" with "BlackRock Ultra-Short Term
Bond Portfolio."
2. HIGHLIGHTS
In the "HIGHLIGHTS" section, add the following disclosure:
There is no death benefit during the Income Phase, however, depending on
the Annuity Option you elect, any remaining guarantee (i.e., cash refund
amount or guaranteed Annuity Payments) will be paid to your
Beneficiary(ies) (see "Annuity Payments (The Income Phase)" for more
information).
3. PURCHASE
In the "PURCHASE" section, under "Investment Allocation Restrictions for GMIB
Plus IV," replace the bullet item under option (A) with the following:
o 100% of your Purchase Payments or Account Value among the AB Global
Dynamic Allocation Portfolio, Allianz Global Investors Dynamic
Multi-Asset Plus Portfolio, American Funds(R) Balanced Allocation
Portfolio, American Funds(R) Moderate Allocation Portfolio, AQR
Global Risk Balanced Portfolio, BlackRock Global Tactical Strategies
Portfolio, Invesco Balanced-Risk Allocation Portfolio, JPMorgan
Global Active Allocation Portfolio, MetLife Asset Allocation 20
Portfolio, MetLife Asset Allocation 40 Portfolio, MetLife Asset
Allocation 60 Portfolio, MetLife Balanced Plus Portfolio, MetLife
Multi-Index Targeted Risk Portfolio, PanAgora Global Diversified
Risk Portfolio, Pyramis(R) Managed Risk Portfolio, Schroders Global
Multi-Asset Portfolio, SSGA Growth and Income ETF Portfolio, and/or
the BlackRock Ultra-Short Term Bond Portfolio (you may not allocate
Purchase Payments to the Dollar Cost Averaging program).
In the "PURCHASE" section, under "Investment Allocation Restrictions for GMIB
Plus IV," replace the lists of investment options in each Platform with the
following:
SUPP-NYC2516
Platform 1
----------
Barclays Capital Aggregate Bond Index Portfolio
BlackRock Ultra-Short Term Bond Portfolio
JPMorgan Core Bond Portfolio
Met/Franklin Low Duration Total Return Portfolio
PIMCO Inflation Protected Bond Portfolio
PIMCO Total Return Portfolio
Pyramis(R) Government Income Portfolio
Western Asset Management U.S. Government Portfolio
Platform 2
----------
AB Global Dynamic Allocation Portfolio
Allianz Global Investors Dynamic Multi-Asset Plus Portfolio
American Funds(R) Balanced Allocation Portfolio
American Funds(R) Growth Allocation Portfolio
American Funds(R) Growth Portfolio
American Funds(R) Moderate Allocation Portfolio
AQR Global Risk Balanced Portfolio
Baillie Gifford International Stock Portfolio
BlackRock Global Tactical Strategies Portfolio
BlackRock High Yield Portfolio
ClearBridge Aggressive Growth Portfolio
Harris Oakmark International Portfolio
Invesco Balanced-Risk Allocation Portfolio
Invesco Comstock Portfolio
Jennison Growth Portfolio
JPMorgan Global Active Allocation Portfolio
Loomis Sayles Global Markets Portfolio
Met/Wellington Core Equity Opportunities Portfolio
MetLife Asset Allocation 20 Portfolio
MetLife Asset Allocation 40 Portfolio
MetLife Asset Allocation 60 Portfolio
MetLife Asset Allocation 80 Portfolio
MetLife Asset Allocation 100 Portfolio
MetLife Balanced Plus Portfolio
MetLife Multi-Index Targeted Risk Portfolio
MetLife Stock Index Portfolio
MFS(R) Research International Portfolio
MFS(R) Value Portfolio
MSCI EAFE(R) Index Portfolio
PanAgora Global Diversified Risk Portfolio
Pyramis(R) Managed Risk Portfolio
Schroders Global Multi-Asset Portfolio
SSGA Growth and Income ETF Portfolio
SSGA Growth ETF Portfolio
T. Rowe Price Large Cap Growth Portfolio
T. Rowe Price Large Cap Value Portfolio
Platform 3
----------
Frontier Mid Cap Growth Portfolio
Goldman Sachs Mid Cap Value Portfolio
Invesco Mid Cap Value Portfolio
2
Met/Artisan Mid Cap Value Portfolio
MetLife Mid Cap Stock Index Portfolio
T. Rowe Price Mid Cap Growth Portfolio
Platform 4
----------
Clarion Global Real Estate Portfolio
Invesco Small Cap Growth Portfolio
Met/Aberdeen Emerging Markets Equity Portfolio
Met/Dimensional International Small Company Portfolio
Met/Eaton Vance Floating Rate Portfolio
Met/Templeton International Bond Portfolio
MetLife Small Cap Value Portfolio
Neuberger Berman Genesis Portfolio
Russell 2000(R) Index Portfolio
Van Eck Global Natural Resources Portfolio
4. INVESTMENT OPTIONS
In the "INVESTMENT OPTIONS" section, add the following disclosure:
The Investment Portfolios listed below are managed in a way that is
intended to minimize volatility of returns (referred to as a "managed
volatility strategy").
(a) AB Global Dynamic Allocation Portfolio
(b) Allianz Global Investors Dynamic Multi-Asset Plus Portfolio
(c) AQR Global Risk Balanced Portfolio
(d) BlackRock Global Tactical Strategies Portfolio
(e) Invesco Balanced-Risk Allocation Portfolio
(f) JPMorgan Global Active Allocation Portfolio
(g) MetLife Balanced Plus Portfolio
(h) MetLife Multi-Index Targeted Risk Portfolio
(i) PanAgora Global Diversified Risk Portfolio
(j) Pyramis(R) Managed Risk Portfolio
(k) Schroders Global Multi-Asset Portfolio
Stock prices fluctuate, sometimes rapidly and dramatically, due to
factors affecting individual companies, particular industries or sectors
or general market conditions. Bond prices may fluctuate because they move
in the opposite direction of interest rates. Foreign investing carries
additional risks such as currency and market volatility. A managed
volatility strategy is designed to reduce volatility of returns to the
above Investment Portfolios from investing in stocks and bonds. This
strategy seeks to reduce such volatility by "smoothing" returns, which
may result in an Investment Portfolio outperforming the general
securities market during periods of flat or negative market performance,
and
3
underperforming the general securities market during periods of positive
market performance. This means that in periods of high market volatility,
this managed volatility strategy could limit your participation in market
gains; this may conflict with your investment objectives by limiting your
ability to maximize potential growth of your Account Value and, in turn,
the value of any guaranteed benefit that is tied to investment
performance. Other Investment Portfolios may offer the potential for
higher returns.
If you elect certain optional riders, you will be subject to investment
allocation restrictions that include these Investment Portfolios. This is
intended in part to reduce the risk of investment losses that could
require us to use our own assets to make payments in connection with the
guarantees under those riders. You pay an additional fee for a guaranteed
benefit which, in part, pays for protecting the rider benefit base from
investment losses. Since the rider benefit base does not decrease as a
result of investment losses, a managed volatility strategy might not
provide meaningful additional benefit to you. Please see the Investment
Portfolio prospectuses for more information in general, as well as more
information about the managed volatility strategy.
5. OTHER INFORMATION
In the "OTHER INFORMATION" section under "First MetLife Investors," add the
following paragraph:
On January 12, 2016, MetLife, Inc. announced its plan to pursue the
separation of a substantial portion of its retail segment and is
currently evaluating structural alternatives for such a separation. Any
separation transaction that might occur will be subject to the
satisfaction of various conditions and approvals, including approval of
any transaction by the MetLife, Inc. Board of Directors, satisfaction of
any applicable requirements of the SEC, and receipt of insurance and
other regulatory approvals and other anticipated conditions. Because the
form of a separation has not yet been set, MetLife, Inc. cannot currently
provide a specific potential completion date or information about the
potential impact on the financial strength of any company that issues
variable insurance products. No assurance can be given regarding the form
that a separation transaction may take or the specific terms thereof, or
that a separation will in fact occur. However, any separation transaction
will not affect the terms or conditions of your variable contract, and
First MetLife Investors Insurance Company will remain fully responsible
for its respective contractual obligations to variable contract owners.
In the "OTHER INFORMATION" section under "Selling Firms," add the following
paragraph:
On February 29, 2016, MetLife, Inc. and Massachusetts Mutual Life
Insurance Company (MassMutual) announced they have entered into a
definitive agreement for the acquisition by MassMutual of MetLife
Securities. The transaction is expected to close by mid-2016, and is
subject to certain closing conditions, including regulatory approval. As
a result of the transaction, MetLife Securities will no longer be
affiliated with First MetLife Investors Insurance Company.
In the "OTHER INFORMATION" section under "Requests and Elections,"
"metlifeinvestors.com" is replaced with "metlife.com."
4
6. INVESTMENT PORTFOLIO EXPENSES TABLE
Replace the Investment Portfolio Expenses Table in the prospectus with the
Investment Portfolio Expenses Table attached to this prospectus supplement.
7. INVESTMENT OPTIONS
Replace the list of Investment Portfolios and Investment Portfolio investment
adviser information under "INVESTMENT OPTIONS" in the prospectus with the list
of Investment Portfolios and Investment Portfolio investment adviser
information attached to this prospectus supplement.
8. APPENDIX B
Replace Appendix B with the Appendix B attached to this prospectus supplement.
THIS SUPPLEMENT SHOULD BE READ AND RETAINED FOR FUTURE REFERENCE
Telephone: 800-343-8496
5
INVESTMENT PORTFOLIO FEES AND EXPENSES
(as a percentage of average daily net assets)
The following table is a summary. For more complete information on Investment
Portfolio fees and expenses, please refer to the prospectus for each Investment
Portfolio.
<TABLE>
<CAPTION>
DISTRIBUTION
AND/OR
MANAGEMENT SERVICE OTHER
INVESTMENT PORTFOLIO FEE (12B-1) FEES EXPENSES
------------------------------------------ ------------ -------------- ----------
<S> <C> <C> <C>
MET INVESTORS SERIES TRUST
AB Global Dynamic Allocation Portfolio 0.61% 0.25% 0.03%
Allianz Global Investors Dynamic Multi- 0.68% 0.25% 0.42%
Asset Plus Portfolio
American Funds(R) Balanced Allocation 0.06% 0.55% --
Portfolio
American Funds(R) Growth Allocation 0.06% 0.55% 0.01%
Portfolio
American Funds(R) Growth Portfolio -- 0.55% 0.02%
American Funds(R) Moderate Allocation 0.06% 0.55% 0.01%
Portfolio
AQR Global Risk Balanced Portfolio 0.61% 0.25% 0.03%
BlackRock Global Tactical Strategies 0.66% 0.25% 0.01%
Portfolio
BlackRock High Yield Portfolio 0.60% 0.25% 0.07%
Clarion Global Real Estate Portfolio 0.60% 0.25% 0.04%
ClearBridge Aggressive Growth Portfolio 0.55% 0.25% 0.02%
Goldman Sachs Mid Cap Value Portfolio 0.71% 0.25% 0.04%
Harris Oakmark International Portfolio 0.77% 0.25% 0.06%
Invesco Balanced-Risk Allocation 0.64% 0.25% 0.03%
Portfolio
Invesco Comstock Portfolio 0.56% 0.25% 0.02%
Invesco Mid Cap Value Portfolio 0.64% 0.25% 0.04%
Invesco Small Cap Growth Portfolio 0.85% 0.25% 0.02%
JPMorgan Core Bond Portfolio 0.55% 0.25% 0.02%
JPMorgan Global Active Allocation 0.72% 0.25% 0.06%
Portfolio
Loomis Sayles Global Markets Portfolio 0.70% 0.25% 0.08%
Met/Aberdeen Emerging Markets Equity 0.88% 0.25% 0.14%
Portfolio
Met/Eaton Vance Floating Rate Portfolio 0.60% 0.25% 0.07%
Met/Franklin Low Duration Total Return 0.49% 0.25% 0.05%
Portfolio
Met/Templeton International Bond 0.60% 0.25% 0.13%
Portfolio
MetLife Asset Allocation 100 Portfolio 0.07% 0.25% 0.01%
MetLife Balanced Plus Portfolio 0.24% 0.25% --
MetLife Multi-Index Targeted Risk 0.17% 0.25% 0.02%
Portfolio
MetLife Small Cap Value Portfolio 0.75% 0.25% 0.02%
MFS(R) Research International Portfolio 0.69% 0.25% 0.07%
PanAgora Global Diversified Risk 0.65% 0.25% 0.60%
Portfolio
PIMCO Inflation Protected Bond 0.47% 0.25% 0.15%
Portfolio
PIMCO Total Return Portfolio 0.48% 0.25% 0.04%
<CAPTION>
ACQUIRED TOTAL FEE WAIVER NET TOTAL
FUND FEES ANNUAL AND/OR ANNUAL
AND OPERATING EXPENSE OPERATING
INVESTMENT PORTFOLIO EXPENSES EXPENSES REIMBURSEMENT EXPENSES
------------------------------------------ ----------- ----------- --------------- ----------
<S> <C> <C> <C> <C>
MET INVESTORS SERIES TRUST
AB Global Dynamic Allocation Portfolio 0.02% 0.91% 0.02% 0.89%
Allianz Global Investors Dynamic Multi- 0.02% 1.37% 0.15% 1.22%
Asset Plus Portfolio
American Funds(R) Balanced Allocation 0.42% 1.03% -- 1.03%
Portfolio
American Funds(R) Growth Allocation 0.43% 1.05% -- 1.05%
Portfolio
American Funds(R) Growth Portfolio 0.35% 0.92% -- 0.92%
American Funds(R) Moderate Allocation 0.40% 1.02% -- 1.02%
Portfolio
AQR Global Risk Balanced Portfolio 0.01% 0.90% 0.01% 0.89%
BlackRock Global Tactical Strategies 0.12% 1.04% 0.03% 1.01%
Portfolio
BlackRock High Yield Portfolio 0.06% 0.98% -- 0.98%
Clarion Global Real Estate Portfolio -- 0.89% -- 0.89%
ClearBridge Aggressive Growth Portfolio -- 0.82% 0.00% 0.82%
Goldman Sachs Mid Cap Value Portfolio -- 1.00% -- 1.00%
Harris Oakmark International Portfolio -- 1.08% 0.02% 1.06%
Invesco Balanced-Risk Allocation 0.03% 0.95% 0.03% 0.92%
Portfolio
Invesco Comstock Portfolio -- 0.83% 0.02% 0.81%
Invesco Mid Cap Value Portfolio 0.08% 1.01% 0.02% 0.99%
Invesco Small Cap Growth Portfolio -- 1.12% 0.02% 1.10%
JPMorgan Core Bond Portfolio -- 0.82% 0.13% 0.69%
JPMorgan Global Active Allocation -- 1.03% 0.04% 0.99%
Portfolio
Loomis Sayles Global Markets Portfolio -- 1.03% -- 1.03%
Met/Aberdeen Emerging Markets Equity -- 1.27% 0.05% 1.22%
Portfolio
Met/Eaton Vance Floating Rate Portfolio -- 0.92% -- 0.92%
Met/Franklin Low Duration Total Return -- 0.79% 0.02% 0.77%
Portfolio
Met/Templeton International Bond -- 0.98% -- 0.98%
Portfolio
MetLife Asset Allocation 100 Portfolio 0.68% 1.01% -- 1.01%
MetLife Balanced Plus Portfolio 0.42% 0.91% 0.00% 0.91%
MetLife Multi-Index Targeted Risk 0.22% 0.66% -- 0.66%
Portfolio
MetLife Small Cap Value Portfolio 0.07% 1.09% 0.00% 1.09%
MFS(R) Research International Portfolio -- 1.01% 0.06% 0.95%
PanAgora Global Diversified Risk 0.04% 1.54% 0.20% 1.34%
Portfolio
PIMCO Inflation Protected Bond -- 0.87% 0.01% 0.86%
Portfolio
PIMCO Total Return Portfolio -- 0.77% 0.04% 0.73%
</TABLE>
6
<TABLE>
<CAPTION>
DISTRIBUTION
AND/OR
MANAGEMENT SERVICE OTHER
INVESTMENT PORTFOLIO FEE (12B-1) FEES EXPENSES
------------------------------------------ ------------ -------------- ----------
<S> <C> <C> <C>
Pyramis(R) Government Income Portfolio 0.42% 0.25% 0.03%
Pyramis(R) Managed Risk Portfolio 0.45% 0.25% 0.04%
Schroders Global Multi-Asset Portfolio 0.64% 0.25% 0.08%
SSGA Growth and Income ETF Portfolio 0.31% 0.25% --
SSGA Growth ETF Portfolio 0.32% 0.25% 0.02%
T. Rowe Price Large Cap Value Portfolio 0.57% 0.25% 0.02%
T. Rowe Price Mid Cap Growth Portfolio 0.75% 0.25% 0.03%
METROPOLITAN SERIES FUND
Baillie Gifford International Stock 0.79% 0.25% 0.07%
Portfolio
Barclays Aggregate Bond Index Portfolio 0.25% 0.30% 0.03%
BlackRock Ultra-Short Term Bond 0.34% 0.25% 0.03%
Portfolio
Frontier Mid Cap Growth Portfolio 0.71% 0.25% 0.03%
Jennison Growth Portfolio 0.60% 0.25% 0.02%
Met/Artisan Mid Cap Value Portfolio 0.81% 0.25% 0.03%
Met/Dimensional International Small 0.81% 0.25% 0.14%
Company Portfolio
Met/Wellington Core Equity 0.70% 0.25% 0.02%
Opportunities Portfolio
MetLife Asset Allocation 20 Portfolio 0.09% 0.25% 0.02%
MetLife Asset Allocation 40 Portfolio 0.06% 0.25% --
MetLife Asset Allocation 60 Portfolio 0.05% 0.25% --
MetLife Asset Allocation 80 Portfolio 0.05% 0.25% --
MetLife Mid Cap Stock Index Portfolio 0.25% 0.30% 0.04%
MetLife Stock Index Portfolio 0.25% 0.25% 0.02%
MFS(R) Value Portfolio 0.70% 0.25% 0.02%
MSCI EAFE(R) Index Portfolio 0.30% 0.30% 0.10%
Neuberger Berman Genesis Portfolio 0.81% 0.25% 0.03%
Russell 2000(R) Index Portfolio 0.25% 0.30% 0.06%
T. Rowe Price Large Cap Growth 0.60% 0.25% 0.02%
Portfolio
Van Eck Global Natural Resources 0.78% 0.25% 0.03%
Portfolio
Western Asset Management Strategic 0.59% 0.25% 0.04%
Bond Opportunities Portfolio
Western Asset Management 0.47% 0.25% 0.02%
U.S. Government Portfolio
<CAPTION>
ACQUIRED TOTAL FEE WAIVER NET TOTAL
FUND FEES ANNUAL AND/OR ANNUAL
AND OPERATING EXPENSE OPERATING
INVESTMENT PORTFOLIO EXPENSES EXPENSES REIMBURSEMENT EXPENSES
------------------------------------------ ----------- ----------- --------------- -----------
<S> <C> <C> <C> <C>
Pyramis(R) Government Income Portfolio -- 0.70% 0.00% 0.70%
Pyramis(R) Managed Risk Portfolio 0.53% 1.27% 0.11% 1.16%
Schroders Global Multi-Asset Portfolio 0.01% 0.98% -- 0.98%
SSGA Growth and Income ETF Portfolio 0.22% 0.78% -- 0.78%
SSGA Growth ETF Portfolio 0.24% 0.83% -- 0.83%
T. Rowe Price Large Cap Value Portfolio -- 0.84% -- 0.84%
T. Rowe Price Mid Cap Growth Portfolio -- 1.03% -- 1.03%
METROPOLITAN SERIES FUND
Baillie Gifford International Stock -- 1.11% 0.12% 0.99%
Portfolio
Barclays Aggregate Bond Index Portfolio -- 0.58% 0.01% 0.57%
BlackRock Ultra-Short Term Bond -- 0.62% 0.02% 0.60%
Portfolio
Frontier Mid Cap Growth Portfolio -- 0.99% 0.02% 0.97%
Jennison Growth Portfolio -- 0.87% 0.08% 0.79%
Met/Artisan Mid Cap Value Portfolio -- 1.09% -- 1.09%
Met/Dimensional International Small -- 1.20% 0.01% 1.19%
Company Portfolio
Met/Wellington Core Equity -- 0.97% 0.12% 0.85%
Opportunities Portfolio
MetLife Asset Allocation 20 Portfolio 0.52% 0.88% 0.01% 0.87%
MetLife Asset Allocation 40 Portfolio 0.56% 0.87% -- 0.87%
MetLife Asset Allocation 60 Portfolio 0.60% 0.90% -- 0.90%
MetLife Asset Allocation 80 Portfolio 0.65% 0.95% -- 0.95%
MetLife Mid Cap Stock Index Portfolio 0.01% 0.60% 0.00% 0.60%
MetLife Stock Index Portfolio -- 0.52% 0.01% 0.51%
MFS(R) Value Portfolio -- 0.97% 0.14% 0.83%
MSCI EAFE(R) Index Portfolio 0.01% 0.71% 0.00% 0.71%
Neuberger Berman Genesis Portfolio -- 1.09% 0.01% 1.08%
Russell 2000(R) Index Portfolio 0.01% 0.62% 0.00% 0.62%
T. Rowe Price Large Cap Growth -- 0.87% 0.02% 0.85%
Portfolio
Van Eck Global Natural Resources -- 1.06% 0.01% 1.05%
Portfolio
Western Asset Management Strategic -- 0.88% 0.04% 0.84%
Bond Opportunities Portfolio
Western Asset Management -- 0.74% 0.01% 0.73%
U.S. Government Portfolio
</TABLE>
The information shown in the table above was provided by the Investment
Portfolios and we have not independently verified that information. Net Total
Annual Operating Expenses shown in the table reflect any current fee waiver or
expense reimbursement arrangement that will remain in effect for a period of at
least one year from the date of the Investment Portfolio's 2016 prospectus.
"0.00%" in the Fee Waiver and/or Expense Reimbursement column indicates that
there is such an arrangement in effect for the Investment Portfolio, but that
the expenses of the Investment Portfolio are below the level that would trigger
the waiver or reimbursement. Fee waiver and expense reimbursement arrangements
with a duration of less than one year, or arrangements that may be terminated
without the consent of the Investment Portfolio's board of directors or
trustees, are not shown.
Certain Investment Portfolios that have "Acquired Fund Fees and Expenses" are
"funds of funds." A fund of funds invests substantially all of its assets in
other underlying funds. Because the Investment Portfolio invests in other
funds, it will bear its pro rata portion of the operating expenses of those
underlying funds, including the management fee.
7
INVESTMENT OPTIONS
MET INVESTORS SERIES TRUST
Met Investors Series Trust is a mutual fund with multiple portfolios. MetLife
Advisers, LLC (MetLife Advisers) is the investment manager of Met Investors
Series Trust. MetLife Advisers has engaged subadvisers to provide investment
advice for the individual Investment Portfolios. (See Appendix B for the names
of the subadvisers.) The following portfolios are available under the contract:
AB Global Dynamic Allocation Portfolio (Class B)*
Allianz Global Investors Dynamic Multi-Asset Plus Portfolio (Class B)*
American Funds(R) Balanced Allocation Portfolio (Class C)
American Funds(R) Growth Allocation Portfolio (Class C)
American Funds(R) Growth Portfolio (Class C)
American Funds(R) Moderate Allocation Portfolio (Class C)
AQR Global Risk Balanced Portfolio (Class B)*
BlackRock Global Tactical Strategies Portfolio (Class B)*
BlackRock High Yield Portfolio (Class B)
Clarion Global Real Estate Portfolio (Class B)
ClearBridge Aggressive Growth Portfolio (Class B)
Goldman Sachs Mid Cap Value Portfolio (Class B)
Harris Oakmark International Portfolio (Class B)
Invesco Balanced-Risk Allocation Portfolio (Class B)*
Invesco Comstock Portfolio (Class B)
Invesco Mid Cap Value Portfolio (Class B)
Invesco Small Cap Growth Portfolio (Class B)
JPMorgan Core Bond Portfolio (Class B)
JPMorgan Global Active Allocation Portfolio (Class B)*
Loomis Sayles Global Markets Portfolio (Class B)
Met/Aberdeen Emerging Markets Equity Portfolio (Class B) (formerly MFS(R)
Emerging Markets Equity Portfolio)
Met/Eaton Vance Floating Rate Portfolio (Class B)
Met/Franklin Low Duration Total Return Portfolio (Class B)
Met/Templeton International Bond Portfolio (Class B)#
MetLife Asset Allocation 100 Portfolio (Class B)
MetLife Balanced Plus Portfolio (Class B)*
MetLife Multi-Index Targeted Risk Portfolio (Class B)*
MetLife Small Cap Value Portfolio (Class B)
MFS(R) Research International Portfolio (Class B)
PanAgora Global Diversified Risk Portfolio (Class B)*
PIMCO Inflation Protected Bond Portfolio (Class B)
PIMCO Total Return Portfolio (Class B)
Pyramis(R) Government Income Portfolio (Class B)*
Pyramis(R) Managed Risk Portfolio (Class B)*
Schroders Global Multi-Asset Portfolio (Class B)*
SSGA Growth and Income ETF Portfolio (Class B)
SSGA Growth ETF Portfolio (Class B)
T. Rowe Price Large Cap Value Portfolio (Class B)
T. Rowe Price Mid Cap Growth Portfolio (Class B)
METROPOLITAN SERIES FUND
Metropolitan Series Fund is a mutual fund with multiple portfolios. MetLife
Advisers is the investment adviser to the portfolios. MetLife Advisers has
engaged subadvisers to provide investment advice for the individual Investment
Portfolios. (See Appendix B for the names of the subadvisers. The following
portfolios are available under the contract:
Baillie Gifford International Stock Portfolio (Class B)
8
Barclays Aggregate Bond Index Portfolio (Class G)*
BlackRock Ultra-Short Term Bond Portfolio (Class B) (formerly BlackRock
Money Market Portfolio)
Frontier Mid Cap Growth Portfolio (Class B)
Jennison Growth Portfolio (Class B)
Met/Artisan Mid Cap Value Portfolio (Class B)
Met/Dimensional International Small Company Portfolio (Class B)
Met/Wellington Core Equity Opportunities Portfolio (Class B)
MetLife Asset Allocation 20 Portfolio (Class B)
MetLife Asset Allocation 40 Portfolio (Class B)
MetLife Asset Allocation 60 Portfolio (Class B)
MetLife Asset Allocation 80 Portfolio (Class B)
MetLife Mid Cap Stock Index Portfolio (Class G)
MetLife Stock Index Portfolio (Class B)
MFS(R) Value Portfolio (Class B)
MSCI EAFE(R) Index Portfolio (Class G)
Neuberger Berman Genesis Portfolio (Class B)
Russell 2000(R) Index Portfolio (Class G)
T. Rowe Price Large Cap Growth Portfolio (Class B)
Van Eck Global Natural Resources Portfolio (Class B)#
Western Asset Management Strategic Bond Opportunities Portfolio (Class B)
Western Asset Management U.S. Government Portfolio (Class B)
* If you elect a GMIB Max rider, you must allocate your Purchase Payments and
Account Value among these Investment Portfolios. (See "Purchase -- Investment
Allocation Restrictions for Certain Riders.") These Investment Portfolios are
also available for investment if you do not elect a GMIB Max rider.
# This portfolio is only available for investment if certain optional riders
are elected. (See "Purchase -- Investment Allocation Restrictions for Certain
Riders.")
9
APPENDIX B
PARTICIPATING INVESTMENT PORTFOLIOS
Below are the advisers and subadvisers and investment objective of each
Investment Portfolio available under the contract. The fund prospectuses
contain more complete information, including a description of the investment
objectives, policies, restrictions and risks. THERE CAN BE NO ASSURANCE THAT
THE INVESTMENT OBJECTIVE WILL BE ACHIEVED.
<TABLE>
<CAPTION>
INVESTMENT PORTFOLIO INVESTMENT OBJECTIVE
--------------------------------------------- ------------------------------------------------
<S> <C>
MET INVESTORS SERIES TRUST
AB Global Dynamic Allocation Portfolio Seeks capital appreciation and current
(Class B)* income.
Allianz Global Investors Dynamic Seeks total return.
Multi-Asset Plus Portfolio (Class B)*
American Funds(R) Balanced Allocation Seeks a balance between a high level of
Portfolio (Class C) current income and growth of capital, with a
greater emphasis on growth of capital.
American Funds(R) Growth Allocation Seeks growth of capital.
Portfolio (Class C)
American Funds(R) Growth Portfolio Seeks to achieve growth of capital.
(Class C)
American Funds(R) Moderate Allocation Seeks a high total return in the form of
Portfolio (Class C) income and growth of capital, with a greater
emphasis on income.
AQR Global Risk Balanced Portfolio Seeks total return.
(Class B)*
BlackRock Global Tactical Strategies Seeks capital appreciation and current
Portfolio (Class B)* income.
BlackRock High Yield Portfolio (Class B) Seeks to maximize total return, consistent
with income generation and prudent
investment management.
Clarion Global Real Estate Portfolio Seeks total return through investment in real
(Class B) estate securities, emphasizing both capital
appreciation and current income.
ClearBridge Aggressive Growth Portfolio Seeks capital appreciation.
(Class B)
Goldman Sachs Mid Cap Value Portfolio Seeks long-term capital appreciation.
(Class B)
Harris Oakmark International Portfolio Seeks long-term capital appreciation.
(Class B)
Invesco Balanced-Risk Allocation Portfolio Seeks total return.
(Class B)*
Invesco Comstock Portfolio (Class B) Seeks capital growth and income.
Invesco Mid Cap Value Portfolio (Class B) Seeks high total return by investing in equity
securities of mid-sized companies.
Invesco Small Cap Growth Portfolio Seeks long-term growth of capital.
(Class B)
JPMorgan Core Bond Portfolio (Class B) Seeks to maximize total return.
JPMorgan Global Active Allocation Seeks capital appreciation and current
Portfolio (Class B)* income.
Loomis Sayles Global Markets Portfolio Seeks high total investment return through a
(Class B) combination of capital appreciation and
income.
Met/Aberdeen Emerging Markets Equity Seeks capital appreciation.
Portfolio (Class B) (formerly MFS(R)
Emerging Markets Equity Portfolio)
<CAPTION>
INVESTMENT PORTFOLIO INVESTMENT ADVISER/SUBADVISER
--------------------------------------------- -------------------------------------------
<S> <C>
MET INVESTORS SERIES TRUST
AB Global Dynamic Allocation Portfolio MetLife Advisers, LLC
(Class B)* Subadviser: AllianceBernstein L.P.
Allianz Global Investors Dynamic MetLife Advisers, LLC
Multi-Asset Plus Portfolio (Class B)* Subadviser: Allianz Global Investors
U.S. LLC
American Funds(R) Balanced Allocation MetLife Advisers, LLC
Portfolio (Class C)
American Funds(R) Growth Allocation MetLife Advisers, LLC
Portfolio (Class C)
American Funds(R) Growth Portfolio MetLife Advisers, LLC; Capital Research
(Class C) and Management Company
American Funds(R) Moderate Allocation MetLife Advisers, LLC
Portfolio (Class C)
AQR Global Risk Balanced Portfolio MetLife Advisers, LLC
(Class B)* Subadviser: AQR Capital Management, LLC
BlackRock Global Tactical Strategies MetLife Advisers, LLC
Portfolio (Class B)* Subadviser: BlackRock Financial
Management, Inc.
BlackRock High Yield Portfolio (Class B) MetLife Advisers, LLC
Subadviser: BlackRock Financial
Management, Inc.
Clarion Global Real Estate Portfolio MetLife Advisers, LLC
(Class B) Subadviser: CBRE Clarion Securities LLC
ClearBridge Aggressive Growth Portfolio MetLife Advisers, LLC
(Class B) Subadviser: ClearBridge Investments, LLC
Goldman Sachs Mid Cap Value Portfolio MetLife Advisers, LLC
(Class B) Subadviser: Goldman Sachs Asset
Management, L.P.
Harris Oakmark International Portfolio MetLife Advisers, LLC
(Class B) Subadviser: Harris Associates L.P.
Invesco Balanced-Risk Allocation Portfolio MetLife Advisers, LLC
(Class B)* Subadviser: Invesco Advisers, Inc.
Invesco Comstock Portfolio (Class B) MetLife Advisers, LLC
Subadviser: Invesco Advisers, Inc.
Invesco Mid Cap Value Portfolio (Class B) MetLife Advisers, LLC
Subadviser: Invesco Advisers, Inc.
Invesco Small Cap Growth Portfolio MetLife Advisers, LLC
(Class B) Subadviser: Invesco Advisers, Inc.
JPMorgan Core Bond Portfolio (Class B) MetLife Advisers, LLC
Subadviser: J.P. Morgan Investment
Management Inc.
JPMorgan Global Active Allocation MetLife Advisers, LLC
Portfolio (Class B)* Subadviser: J.P. Morgan Investment
Management Inc.
Loomis Sayles Global Markets Portfolio MetLife Advisers, LLC
(Class B) Subadviser: Loomis, Sayles & Company, L.P.
Met/Aberdeen Emerging Markets Equity MetLife Advisers, LLC
Portfolio (Class B) (formerly MFS(R) Subadviser: Aberdeen Asset Managers
Emerging Markets Equity Portfolio) Limited
</TABLE>
B-1
<TABLE>
<CAPTION>
INVESTMENT PORTFOLIO INVESTMENT OBJECTIVE
--------------------------------------------- ------------------------------------------------
<S> <C>
Met/Eaton Vance Floating Rate Portfolio Seeks a high level of current income.
(Class B)
Met/Franklin Low Duration Total Return Seeks a high level of current income, while
Portfolio (Class B) seeking preservation of shareholders' capital.
Met/Templeton International Bond Seeks current income with capital
Portfolio (Class B)# appreciation and growth of income.
MetLife Asset Allocation 100 Portfolio Seeks growth of capital.
(Class B)
MetLife Balanced Plus Portfolio (Class B)* Seeks a balance between a high level of
current income and growth of capital, with a
greater emphasis on growth of capital.
MetLife Multi-Index Targeted Risk Seeks a balance between growth of capital
Portfolio (Class B)* and current income, with a greater emphasis
on growth of capital.
MetLife Small Cap Value Portfolio Seeks long-term capital appreciation.
(Class B)
MFS(R) Research International Portfolio Seeks capital appreciation.
(Class B)
PanAgora Global Diversified Risk Seeks total return.
Portfolio (Class B)*
PIMCO Inflation Protected Bond Portfolio Seeks maximum real return, consistent with
(Class B) preservation of capital and prudent
investment management.
PIMCO Total Return Portfolio (Class B) Seeks maximum total return, consistent with
the preservation of capital and prudent
investment management.
Pyramis(R) Government Income Portfolio Seeks a high level of current income,
(Class B)* consistent with preservation of principal.
Pyramis(R) Managed Risk Portfolio Seeks total return.
(Class B)*
Schroders Global Multi-Asset Portfolio Seeks capital appreciation and current
(Class B)* income.
SSGA Growth and Income ETF Portfolio Seeks growth of capital and income.
(Class B)
SSGA Growth ETF Portfolio (Class B) Seeks growth of capital.
T. Rowe Price Large Cap Value Portfolio Seeks long-term capital appreciation by
(Class B) investing in common stocks believed to be
undervalued. Income is a secondary
objective.
T. Rowe Price Mid Cap Growth Portfolio Seeks long-term growth of capital.
(Class B)
METROPOLITAN SERIES FUND
Baillie Gifford International Stock Seeks long-term growth of capital.
Portfolio (Class B)
Barclays Aggregate Bond Index Portfolio Seeks to track the performance of the
(Class G)* Barclays U.S. Aggregate Bond Index.
BlackRock Ultra-Short Term Bond Seeks a high level of current income
Portfolio (Class B) (formerly BlackRock consistent with preservation of capital.
Money Market Portfolio)
Frontier Mid Cap Growth Portfolio Seeks maximum capital appreciation.
(Class B)
<CAPTION>
INVESTMENT PORTFOLIO INVESTMENT ADVISER/SUBADVISER
--------------------------------------------- ---------------------------------------------
<S> <C>
Met/Eaton Vance Floating Rate Portfolio MetLife Advisers, LLC
(Class B) Subadviser: Eaton Vance Management
Met/Franklin Low Duration Total Return MetLife Advisers, LLC
Portfolio (Class B) Subadviser: Franklin Advisers, Inc.
Met/Templeton International Bond MetLife Advisers, LLC
Portfolio (Class B)# Subadviser: Franklin Advisers, Inc.
MetLife Asset Allocation 100 Portfolio MetLife Advisers, LLC
(Class B)
MetLife Balanced Plus Portfolio (Class B)* MetLife Advisers, LLC
Subadviser: Overlay Portion:
Pacific Investment Management Company
LLC
MetLife Multi-Index Targeted Risk MetLife Advisers, LLC
Portfolio (Class B)* Subadviser: Overlay Portion:
MetLife Investment Advisors, LLC
MetLife Small Cap Value Portfolio MetLife Advisers, LLC
(Class B) Subadvisers: Delaware Investments Fund
Advisers; Wells Capital
Management Incorporated (formerly Third
Avenue Management LLC)
MFS(R) Research International Portfolio MetLife Advisers, LLC
(Class B) Subadviser: Massachusetts Financial Services
Company
PanAgora Global Diversified Risk MetLife Advisers, LLC
Portfolio (Class B)* Subadviser: PanAgora Asset Management,
Inc.
PIMCO Inflation Protected Bond Portfolio MetLife Advisers, LLC
(Class B) Subadviser: Pacific Investment Management
Company LLC
PIMCO Total Return Portfolio (Class B) MetLife Advisers, LLC
Subadviser: Pacific Investment Management
Company LLC
Pyramis(R) Government Income Portfolio MetLife Advisers, LLC
(Class B)* Subadviser: FIAM LLC
Pyramis(R) Managed Risk Portfolio MetLife Advisers, LLC
(Class B)* Subadviser: FIAM LLC
Schroders Global Multi-Asset Portfolio MetLife Advisers, LLC
(Class B)* Subadvisers: Schroder Investment
Management North America Inc.;
Schroder Investment Management North
America Limited
SSGA Growth and Income ETF Portfolio MetLife Advisers, LLC
(Class B) Subadviser: SSGA Funds Management, Inc.
SSGA Growth ETF Portfolio (Class B) MetLife Advisers, LLC
Subadviser: SSGA Funds Management, Inc.
T. Rowe Price Large Cap Value Portfolio MetLife Advisers, LLC
(Class B) Subadviser: T. Rowe Price Associates, Inc.
T. Rowe Price Mid Cap Growth Portfolio MetLife Advisers, LLC
(Class B) Subadviser: T. Rowe Price Associates, Inc.
METROPOLITAN SERIES FUND
Baillie Gifford International Stock MetLife Advisers, LLC
Portfolio (Class B) Subadviser: Baillie Gifford Overseas Limited
Barclays Aggregate Bond Index Portfolio MetLife Advisers, LLC
(Class G)* Subadviser: MetLife Investment Advisors,
LLC
BlackRock Ultra-Short Term Bond MetLife Advisers, LLC
Portfolio (Class B) (formerly BlackRock Subadviser: BlackRock Advisors, LLC
Money Market Portfolio)
Frontier Mid Cap Growth Portfolio MetLife Advisers, LLC
(Class B) Subadviser: Frontier Capital Management
Company, LLC
</TABLE>
B-2
<TABLE>
<CAPTION>
INVESTMENT PORTFOLIO INVESTMENT OBJECTIVE
-------------------------------------------- -------------------------------------------------
<S> <C>
Jennison Growth Portfolio (Class B) Seeks long-term growth of capital.
Met/Artisan Mid Cap Value Portfolio Seeks long-term capital growth.
(Class B)
Met/Dimensional International Small Seeks long-term capital appreciation.
Company Portfolio (Class B)
Met/Wellington Core Equity Seeks to provide a growing stream of income
Opportunities Portfolio (Class B) over time and, secondarily, long-term capital
appreciation and current income.
MetLife Asset Allocation 20 Portfolio Seeks a high level of current income, with
(Class B) growth of capital as a secondary objective.
MetLife Asset Allocation 40 Portfolio Seeks high total return in the form of income
(Class B) and growth of capital, with a greater
emphasis on income.
MetLife Asset Allocation 60 Portfolio Seeks a balance between a high level of
(Class B) current income and growth of capital, with a
greater emphasis on growth of capital.
MetLife Asset Allocation 80 Portfolio Seeks growth of capital.
(Class B)
MetLife Mid Cap Stock Index Portfolio Seeks to track the performance of the
(Class G) Standard & Poor's MidCap 400(R) Composite
Stock Price Index.
MetLife Stock Index Portfolio (Class B) Seeks to track the performance of the
Standard & Poor's 500(R) Composite Stock
Price Index.
MFS(R) Value Portfolio (Class B) Seeks capital appreciation.
MSCI EAFE(R) Index Portfolio (Class G) Seeks to track the performance of the MSCI
EAFE(R) Index.
Neuberger Berman Genesis Portfolio Seeks high total return, consisting principally
(Class B) of capital appreciation.
Russell 2000(R) Index Portfolio (Class G) Seeks to track the performance of the Russell
2000(R) Index.
T. Rowe Price Large Cap Growth Portfolio Seeks long-term growth of capital.
(Class B)
Van Eck Global Natural Resources Seeks long-term capital appreciation with
Portfolio (Class B)# income as a secondary consideration.
Western Asset Management Strategic Bond Seeks to maximize total return consistent
Opportunities Portfolio (Class B) with preservation of capital.
Western Asset Management Seeks to maximize total return consistent
U.S. Government Portfolio (Class B) with preservation of capital and maintenance
of liquidity.
<CAPTION>
INVESTMENT PORTFOLIO INVESTMENT ADVISER/SUBADVISER
-------------------------------------------- ---------------------------------------------
<S> <C>
Jennison Growth Portfolio (Class B) MetLife Advisers, LLC
Subadviser: Jennison Associates LLC
Met/Artisan Mid Cap Value Portfolio MetLife Advisers, LLC
(Class B) Subadviser: Artisan Partners Limited
Partnership
Met/Dimensional International Small MetLife Advisers, LLC
Company Portfolio (Class B) Subadviser: Dimensional Fund Advisors LP
Met/Wellington Core Equity MetLife Advisers, LLC
Opportunities Portfolio (Class B) Subadviser: Wellington Management
Company LLP
MetLife Asset Allocation 20 Portfolio MetLife Advisers, LLC
(Class B)
MetLife Asset Allocation 40 Portfolio MetLife Advisers, LLC
(Class B)
MetLife Asset Allocation 60 Portfolio MetLife Advisers, LLC
(Class B)
MetLife Asset Allocation 80 Portfolio MetLife Advisers, LLC
(Class B)
MetLife Mid Cap Stock Index Portfolio MetLife Advisers, LLC
(Class G) Subadviser: MetLife Investment Advisors,
LLC
MetLife Stock Index Portfolio (Class B) MetLife Advisers, LLC
Subadviser: MetLife Investment Advisors,
LLC
MFS(R) Value Portfolio (Class B) MetLife Advisers, LLC
Subadviser: Massachusetts Financial Services
Company
MSCI EAFE(R) Index Portfolio (Class G) MetLife Advisers, LLC
Subadviser: MetLife Investment Advisors,
LLC
Neuberger Berman Genesis Portfolio MetLife Advisers, LLC
(Class B) Subadviser: Neuberger Berman Investment
Advisers LLC
Russell 2000(R) Index Portfolio (Class G) MetLife Advisers, LLC
Subadviser: MetLife Investment Advisors,
LLC
T. Rowe Price Large Cap Growth Portfolio MetLife Advisers, LLC
(Class B) Subadviser: T. Rowe Price Associates, Inc.
Van Eck Global Natural Resources MetLife Advisers, LLC
Portfolio (Class B)# Subadviser: Van Eck Associates Corporation
Western Asset Management Strategic Bond MetLife Advisers, LLC
Opportunities Portfolio (Class B) Subadviser: Western Asset Management
Company
Western Asset Management MetLife Advisers, LLC
U.S. Government Portfolio (Class B) Subadviser: Western Asset Management
Company
</TABLE>
* If you elect a GMIB Max rider, you must allocate your Purchase Payments and
Account Value among these Investment Portfolios. (See "Purchase -- Investment
Allocation Restrictions for Certain Riders.") These Investment Portfolios are
also available for investment if you do not elect a GMIB Max rider.
# This portfolio is only available for investment if certain optional riders
are elected. (See "Purchase -- Investment Allocation Restrictions for Certain
Riders.")
.
B-3