LIFE UNIVERSAL. MetLife Premier Accumulator Universal Life SM. Producer Guide. For Producer Use Only. Not for Public Distribution.

Transcription

1 MetLife Premier Accumulator Universal Life SM LIFE UNIVERSAL Producer Guide

2 Life. your way SM MetLife understands your business. We respect your entrepreneurial spirit as you help guide clients toward financial freedom. We want to be your partner of choice as you grow your business the only way that matters, your way. Table of Contents POLICY OVERVIEW General Description... 2 Availability... 2 Issue Age and Risk Class... 2 Face Amounts... 2 Face Amount Banding... 2 Death Benefit Options... 3 Death Benefit Proceeds... 3 Premiums... 3 Definition of Life Insurance... 4 Policy Charges... 4 Interest Rates... 5 Cash Withdrawals... 5 Policy Loans... 5 Policy Surrender... 6 Age 121 Processing... 6 Lapse Processing... 7 Policy Changes... 7 RIDERS Acceleration of Death Benefit Rider (ADBR)...7 Overloan Protection Rider (OPR)...8 Waiver of Specified Premium Rider (WSP)...8

3 Policy Overview GENERAL DESCRIPTION MetLife Premier Accumulator Universal Life (PAUL) is designed to combine death benefit protection with high early cash value accumulation for increased flexibility as well as competitive long term cash value accumulation for income needs. Product Features: n High early cash value accumulation n 1% of typical Universal Life surrender charges n Wash loans after policy year 20 n Allows 1035 exchanges with carry-over loans n Guaranteed Issue class n Optional riders: Accelerated Death Benefit Rider, Overloan Protection Rider, and Waiver of Specified Premium Rider MetLife Premier Accumulator Universal Life is issued by MetLife Insurance Company USA in all jurisdictions except New York where it is issued by Metropolitan Life Insurance Company (collectively referred to as the Company ). AVAILABILITY MetLife Premier Accumulator Universal Life is available on a fully underwritten basis as well as on a Guaranteed Issue basis. Unisex rates are available for qualifying business cases, qualified plans and for all policies issued in Montana. Please check the current state approval list for the availability of the base policy and riders in individual states. Term and Group Conversions Term conversions to MetLife Premier Accumulator Universal Life are allowed within issue age and face amount limits. Additional benefits and riders may be added to the new policy subject to Company approval and underwriting review. This product is not available for group conversions. ISSUE AGE AND RISK CLASS The insured s issue age is determined using the Age Nearest Birthday rule. The Policy Start Date 1 can be backdated up to 180 days (state variations may apply) from the application signature date to conserve age. The following risk class and issue age combinations are available: Permanent and temporary flat extras, or combinations of the two, are allowed for all issues ages and all risk classes except Elite. The maximum combined flat extra amount allowed for issue ages is $40 per $1,000. The maximum combined flat extra amount for issue ages 81 and above is $10 per $1,000. FACE AMOUNTS Minimum Risk Class Risk Elite $250,000 Preferred $100,000 Standard, Substandard, Guaranteed Issue and Juvenile $50,000 For qualified pension cases, the minimum face amount is $25,000. Maximum The maximum policy face amount is subject to normal underwriting guidelines. FACE AMOUNT BANDING Face Amount of Insurance Issue Ages Elite Nonsmoker Preferred Nonsmoker and Smoker Standard Nonsmoker and Smoker Substandard Nonsmoker and Substandard Smoker Juvenile 0-17 Guaranteed Issue Nonsmoker and Smoker Face Amount $50,000 $99,999 ($25,000 for qualified pension cases) $100,000 $249,999 $250,000 $499,999 $500,000 $999,999 $1,000,000 and above 1 1 Policy Start Date is the date shown on the policy specifications page and may differ from the date on which the policy is actually issued, which is called the Policy Issue Date. The Policy Start Date is used to measure issue age, policy years, policy months and anniversaries. The Policy Issue Date is used to measure the suicide exclusion and incontestability periods. 2 For issue ages 81-85, the only substandard table ratings available are B, C, and D.

4 2 DEATH BENEFIT OPTIONS Two death benefit options (DBOs) are available: DBO A (Level), which provides for a death benefit equal to the greater of: The policy face amount, and The policy s cash value times the applicable minimum death benefit factor. DBO B (Increasing), which provides for a death benefit equal to the greater of: The policy face amount plus the current cash value, and The policy s cash value times the applicable minimum death benefit factor. DEATH BENEFIT PROCEEDS At the death of the insured, the policy proceeds payable are: The policy death benefit as defined under the current policy death benefit option; plus Any insurance on the insured provided by riders (unless the rider s death benefit is reflected in the death benefit of the policy); plus Premium payments received after death; plus The cost of insurance from the date of death to the end of that policy month; minus Any amount due and unpaid under the grace period provision as of the date of death; minus Any loan and accrued loan interest as of the date of death including previous surrenders that may have been reversed under the surrender provision. PREMIUMS The policy allows for flexible premiums. Clients have the option of varying the amount and timing of their premium payments (subject to certain conditions). Premium Modes The following premium modes are available: Annual Semi-Annual Quarterly Monthly (Electronic Payment, Government Allotment, and Salary Savings) List Bill is available for all modes. Direct billing is not available for monthly mode. Minimum Premium to Issue The Minimum Premium to Issue (MPI) is the premium amount that when paid at issue assures there is sufficient policy cash value to cover the first year surrender charge and pay the monthly policy charges to the next modal premium due date. The MPI for a policy varies by premium mode and is printed on the policy illustration. Planned Modal Premium The planned modal premium is the amount the policy owner indicates will be paid on the selected modal basis for the identified duration. The planned modal premium is shown on the policy specifications pages Exchanges and Planned First-Year Lump Sum 1035 exchanges or any planned first-year lump sum is expected to be paid within 12 months of the Policy Start Date. Gross Premium Gross premium, which includes cash and cash equivalent payments, 1035 exchanges (including carryover loan amounts), payments applied to a policy under a Waiver of Specified Premium rider, and term conversion credits, is subject to the Percent of Premium Charge. Loan repayments are not considered gross premium. Target Premium The target premium is a calculated premium used for commissions and premium load determinations. Paying the target premium does not assure that the policy will remain in force. The target premium rates for the base policy are per thousand of face amount and vary by issue age, sex, risk class and band. The target premium for the base policy is not increased for flat extras (temporary or permanent) and is capped at Table D for table rated cases. Policy riders may also have associated target premiums. The rider target premium is added to the base policy target premium for the total policy target premium. For PAUL, WSP has a target premium; however, OPR and ADBR do not have target premiums. The target premium for the original base piece of coverage is not recalculated for a face increase; rather, the face increase segment of coverage has its own target premium which is added to the initial base policy target premium and any rider target premium for the new total policy target premium. The base policy target premium is recalculated for face decreases after the first policy year. The policy target premium is also recalculated when riders are dropped and added, if there is a misstatement of age or gender, and when there is a change in the insured s risk class.

5 Seven-Pay Premiums The Internal Revenue Code, section 7702A, defines the maximum premium, the 7-pay limit that can be paid into a policy during the first 7 policy years or 7 policy years after a material change, in order to avoid having the policy classified as a Modified Endowment Contract (MEC). Designation of a policy as a MEC can result in adverse income tax implications for withdrawals, loans, and assignments or pledges of any portion of the value of the policy. MEC status can be avoided if the policy owner elects to receive a refund of the excess premium, with interest, within 60 days after the end of the contract year in which the excess premium was contributed. MEC status due to a reduction in benefits as a result of nonpayment of premiums can be reversed if benefits are reinstated within 90 days after the reduction. The Company will notify the policy owner when a policy becomes a MEC. DEFINITION OF LIFE INSURANCE Section 7702 of the Internal Revenue Code requires that a policy meet one of two tests, the Guideline Premium Test (GPT) or the Cash Value Accumulation Test (CVAT), in order to qualify as life insurance. Both of the tests are available for PAUL but, once the definition of life insurance test is selected at issue, it cannot be changed. Guideline Premium Test If GPT is chosen, the policy must meet two criteria in order to qualify as life insurance. The cumulative premiums paid cannot exceed, on any date, the greater of the guideline single premium and the cumulative guideline annual premiums to date. Premiums received in excess of the limit will be rejected. Additionally, the policy death benefit will never be less than the greater of: the applicable IRS Corridor Factor times the policy s cash value and the policy face amount, for Death Benefit Option (DBO) A policies, or the policy face amount plus the policy cash value, for Death Benefit Option B policies. In no event will the death benefit be less than the minimum amount required for the policy to be treated as life insurance for Federal income tax purposes. Policy changes, including the addition or deletion of certain riders, can cause the recalculation of the guideline single and guideline annual premiums. GPT is generally a better choice if premiums are expected to be paid in all policy years; or if the policy will be highly funded and an increase in death benefit is desired in later years. Cash Value Accumulation Test If CVAT is chosen, in order to qualify as life insurance, the policy death benefit will never be less than the greater of: the applicable Net Single Premium Corridor Factor times the policy s cash value; and the policy face amount, for DBO A policies, or the policy face amount plus the policy cash value, for DBO B policies. In no event will the death benefit be less than the minimum amount required for the policy to be treated as life insurance for Federal income tax purposes. Additionally, the Company imposes a first year premium limit, called the maximum initial premium, equal to the policy Net Single Premium grossed up by the percent of premium charge. CVAT is generally a better choice for a policy with a large dump-in, when the policy will be highly funded in the early years, or when an increase in death benefit is desired as early as possible. POLICY CHARGES Monthly Deduction We deduct the monthly policy charges from the cash value at the beginning of each policy month. The sum of these charges is called the Monthly Deduction. The charges included in the Monthly Deduction are the: Monthly Coverage Expense Charge Monthly Policy Charge Monthly Rider Charges, if applicable Monthly Cost of Insurance Monthly Coverage Expense Charge Each piece of base coverage has its own Monthly Coverage Expense Charge (MCEC). The charge is equal to the coverage face amount times its applicable MCEC rate for the year; divided by 1,000. The MCEC rates vary by coverage segment issue age, risk class, and the length of time the coverage is inforce (state variations apply), and by policy face amount band, sex, and death benefit option. The current MCEC rates may be less than the guaranteed MCEC rates. Monthly Policy Charge The policy charge is $10 per month on a current and guaranteed basis. Rider Charge The cost of optional riders, if they have a monthly charge, is included in the Monthly Deduction. For PAUL, only WSP has a monthly charge. 3

6 4 Monthly Cost of Insurance Charge Each piece of base coverage has a Monthly Cost of Insurance (COI) Charge which covers the cost of providing insurance coverage for the next month. The COI rates are per thousand of net amount at risk and vary on a current basis by coverage segment attained age, risk class, and time the segment is in force and by policy band, sex, and death benefit option. The guaranteed COI rates vary by attained age, risk class, sex, smoking status and the time that the segment is inforce. Unisex rates use the 80% male/20% female blended COI rates. Other Charges Percent of Premium Charge We deduct a percent of premium charge from the gross premium received. The Percent of Premium Charge covers premiums received for both the initial face amount and for any requested increase. On a current basis, this charge equals 33% of the premium up to the target premium for the first policy year, 8% of the premium up to the target premium for all other policy years, and 3% of the premium in excess of the target premium in all policy years. The guaranteed maximum premium load equals 43% of the premium up to the target premium for the first policy year, 18% of the premium up to the target premium for all other policy years, and 13% of the premium in excess of the target premium in all policy years. Surrender Charge A surrender charge applies for the first 15 policy years, and for 15 years after policy face increases. Surrender charges for PAUL are 1% of typical Universal Life surrender charges. Surrender charges apply to full surrenders, partial withdrawals that decrease the face amount, DBO changes that reduce the policy s face amount and requested face amount decreases. The surrender charge rates vary by issue age, sex, smoking class, band, and length of time the coverage is inforce. The surrender charge remains level the first coverage year then decreases monthly, over the next 14 years, until it reaches $0 at the end of the fifteenth year. A surrender charge does not apply to any death benefit amount in excess of the policy face amount which is associated with DBO B. Each segment of coverage will have its own surrender charge period. INTEREST RATES Current Interest Crediting Rate The current interest crediting is based upon a portfoliocrediting method determined by investment returns. The rate can be changed at any time but currently, is reviewed on a quarterly basis. Guaranteed Interest Rate The guaranteed minimum interest crediting rate on the policy cash value is 2% per year for the life of the policy. CASH WITHDRAWALS After the first policy anniversary, withdrawals from the policy s cash value can be made at any time. For DBO A policies, withdrawals reduce the face amount dollar-fordollar and will result in a surrender charge during the policy surrender charge period. For DBO B policies, the death benefit is reduced by the amount of the withdrawal but the face amount does not decrease and, therefore, the withdrawal does not result in a surrender charge. The minimum partial withdrawal amount is $100. The maximum withdrawal is the greater of: 90% of the policy s net cash surrender value as of the beginning of the policy year; and Last year s maximum allowable withdrawal amount less any prior withdrawals in the current year. But, no withdrawal will be processed unless: the cash surrender value after the withdrawal is large enough to cover two monthly deductions, the face amount after the withdrawal is at least the minimum policy face amount shown on the policy specifications page and the policy continues to qualify as life insurance under applicable tax law. Currently, up to 12 withdrawals per policy year are allowed without any charge. The Company reserves the right to charge an administrative fee for withdrawals, up to a maximum $25 per withdrawal, and to change the maximum number of withdrawals allowed during a policy year. However, the maximum number of withdrawals will never be less than the number specified on the policy specifications page. POLICY LOANS Loans can be taken at any time after policy issue, provided there is sufficient loan value. Loans will decrease the cash surrender value and death benefit.

7 Basic Policy Loan Rules The maximum amount available for a loan is: 100% of the current cash value as of the loan request date; plus Interest to the next policy anniversary on the cash value at the guaranteed interest crediting rate; minus Any applicable surrender charges; minus The most recent monthly deduction charged times the number of policy months until the next policy anniversary; minus Loan interest at the guaranteed loan interest rate due at the next anniversary on the existing loan balance plus the maximum incremental loan; minus Any outstanding loan balance, as of the loan request date. When a loan is taken, an amount equal to the loan is transferred from the policy cash value to a loan collateral account. The loan collateral account is credited with the guaranteed interest rate of 2%. In order for a policy to remain in force, the total amount of the loan, including accrued interest, plus any surrender charge, must not exceed the policy s cash value. Notification will be sent to the policy owner if a premium or loan payment needs to be made to keep the policy in force. There is a 62-day grace period in the policy. If the amount due remains unpaid at the end of that grace period, the policy will lapse without value. Loan Interest Rate Loan interest is compounded daily and is payable in arrears on each policy anniversary. Unpaid loan interest is capitalized and begins to accrue loan interest exchanges to MetLife Premier Accumulator Universal Life from policies with loan balances are allowed. The maximum loan carryover is 50% of the exchanged policy s gross cash value. Preferred Loans A non-guaranteed preferred loan rate applies in the first 20 years for 1035 exchange carryover loans. Policy Year Loan Type Current Loan Interest Rate* Loan Crediting Rate Net Loan Cost 1-20 Regular 3.0% 2.0% 1.0% 1-20 Preferred** 2.5% 2.0% 0.5% 21+ Both 2.0% 2.0% 0.0% * These rates are current as of May 31, 2015 and subject to state variations. **There is no preferred loan rate in NY. On a guaranteed basis, the maximum loan interest rate is 5% in years 1-20 and 4% in years 21+. Loan Repayments A payment must be designated for loan repayment or it will be credited as a policy premium. Payments designated as loan repayments will be applied to outstanding loan balances in this order: 1. Regular (non preferred) loan principal 2. Regular (non preferred) loan interest 3. Preferred loan principal 4. Preferred loan interest 5. Premium payment A loan repayment received at the time of the policy anniversary is applied first to interest. POLICY SURRENDER A policy may be surrendered for its net cash surrender value at any time. If the surrender occurs on a monthly policy anniversary date, the net cash surrender value (cash value less surrender charges and loan balance) will not be reduced by any monthly deductions. If the surrender occurs on a date other than a monthly policy anniversary date, any unearned COI charge will not be refunded. If the insured dies after the policy is surrendered but prior to the next monthly anniversary date, then the surrender will be reversed, the surrender will be considered as a loan without interest and the death proceeds will be equal to the amount defined in the Death Benefit Proceeds section. AGE 121 PROCESSING Policy Charges No policy charges are deducted from the policy s cash value on and after the policy anniversary at which the insured is attained age 121. Payments After attained age 121, premium payments are accepted if they are required under a grace provision to keep the policy in force. Loans New loans, additional loans, loan interest payments and loan repayments are allowed. Loan interest continues to accrue and be due each anniversary. Extension of Maturity Provision An extension of maturity provision is automatically included on all policies. This provision provides, subject to any applicable state variations, for the continuation of the policy after maturity, provided the policy is in force at maturity, which is the insured s attained age 121. There is no charge for this provision. The death benefit calculation at attained age 121 varies by death benefit option and state. 5

8 6 LAPSE PROCESSING On the day the monthly policy charges are deducted, if the cash surrender value is insufficient to cover all of the charges, the policy enters a 62-day grace period. If the amount due remains unpaid at the end of that grace period, the policy will lapse. Notification of grace period and lapse is mailed to the policy owner, any assignee(s) and the servicing producer. POLICY CHANGES Face Amount Change The policy owner can increase or decrease the face amount. However, face increases will be subject to underwriting. Increases in Face Amount A policy owner may increase the face amount at any time after the first policy year. Each face increase has its own target premium, and its own surrender charge based on attained age and current risk class. Any increase in face amount is subject to the following conditions: Proof of insurability for the increased coverage. Minimum increase amount must be at least $5,000. Maximum attained age of the insured is 85 on the date of the increase. New insurance must be available under our current underwriting rules on the same plan at the Attained Age of the Insured on the date of the Requested Increase. The total face amount after the increase cannot be greater than our published maximums. Decreases in Face Amount A policy owner may decrease the face amount any time after the first policy year. Any decrease in face amount is subject to the following conditions: Minimum allowed face amount decrease is $5,000. The face amount cannot be reduced below the minimum of $50,000 ($25,000 in pension cases). Surrender charges assessed, if applicable. Unless otherwise requested in writing, a requested face decrease would be processed in the following order: Previously underwritten face amount increases, starting with the most recent increase; The initial face amount; Then any face amount increase ascribed to the death benefit option change. Death Benefit Option Changes Death Benefit Option (DBO) changes are allowed after the first policy anniversary until maturity. The effective date of the change is the date the request in received in good order. The death benefit payable after the change must remain the same as before the change. The Company reserves the right to require underwriting for death benefit option changes. Change from Option A to Option B If the DBO is changed from DBO A to DBO B, then the policy face amount is decreased by the cash value amount. This decrease will incur a surrender charge if the policy is within the surrender charge period. The face amount cannot be reduced below the minimum of $50,000 ($25,000 for pension cases). Change from Option B to Option A If the policy is changed from DBO B to DBO A, then the face amount will be increased by the current cash value amount to equal the previous death benefit on the effective date of the change. Riders 3 ACCELERATION OF DEATH BENEFIT RIDER General Description The Acceleration of Death Benefit Rider (ADBR) provides for a discounted payment of all or a portion of the amount that would normally be paid to the beneficiaries upon the death of the insured under the base policy. Such payment will be made once a physician certifies that the insured has been determined to be terminally ill, with 12 months (24 months in some states) or less to live. The payment under this rider is made to the policy owner(s), not the policy beneficiary and may be taxable or may adversely affect eligibility for benefits under state or federal law. Please consult a tax advisor to determine the effect prior to exercising the rider. Availability This rider is available for all issue ages and risk classes, at issue and after issue, and may only be exercised once. Rider Charges There is no monthly charge for this rider. A onetime administrative fee, not to exceed $150.00, is charged at rider exercise. Amount Available for Acceleration The minimum amount that can be requested under this rider is $20,000. The maximum amount that can be requested 3 Not all riders are available in all states and state variations apply.

9 is the greater of: $250,000 or 10% of the eligible death benefit proceeds. If the policy proceeds are between $250,000 and $275,000, the policy owner may elect to accelerate the full amount. If less than the full amount is requested, the remaining policy death benefit must be at least $50,000. Minimums and maximums are subject to state law. If less than the full amount is requested, all future policy values, charges and premiums will be reduced to reflect the lower coverage. OVERLOAN PROTECTION RIDER General Description The Overloan Protection Rider (OPR) is designed to prevent a policy from lapsing due to indebtedness. The tax treatment of the Overloan Protection Rider is uncertain. In particular, it is not clear whether the Overloan Protection Rider will be effective to prevent taxation of the outstanding loan balance as a distribution. Anyone contemplating the purchase of the policy with the Overloan Protection Rider should consult a tax advisor. Availability This rider is available for issue ages 0 70, and is not available in the qualified market. For policies using the Guideline Premium Test, the rider is automatically included at issue. It is not available on policies using the Cash Value Accumulation Test. Rider Charges There is no charge for this rider until it is exercised, when a one-time charge of 3.5% of the policy s cash value including the amount of the loan, is assessed. If the rider is exercised after age 100, the charge is waived. Requirements to Exercise 1. The policy must have been inforce for at least 15 years. 2. Insured must be at least age The policy loan balance must be greater than 95% of the cash value, but not more than 99.5%, of the cash value, after the OPR charge is taken. 4. The debt must be greater than the face amount. 5. The DBO must be Option A. If the DBO is Option B, the DBO will automatically be changed to Option A at the time of rider exercise. 6. The entire policy cost basis must have been withdrawn. 7. There must be sufficient policy value to cover the rider charge. 8. The policy cannot be a MEC. The policy owner will be notified of their initial eligibility to exercise the rider and given a 30-day window to inform MetLife that they wish to exercise the rider. Only one notice will be sent. Post-Exercise: All riders are cancelled; no future benefits from them will be available. Policy charges will no longer be deducted. No additional premium payments can be accepted. No partial surrenders, partial withdrawals or additional loans can be made. The current loan balance will remain on the policy, and will affect the cash surrender value and the death benefit. No additional policy changes are allowed. Loan interest continues to accrue and will be due on the policy anniversary. Loan repayments can be made at any time. Rider Deactivation After the rider has been exercised, it can be deactivated if requested in writing. Upon deactivation, monthly deductions will resume beginning on the monthly anniversary after the date of deactivation. Policy restrictions due to exercising this rider no longer apply. Previously cancelled riders will not be reinstated and new riders may not be added to the policy after OPR has been deactivated. Termination This rider can only terminate if the base policy terminates or upon request of the policy owner. WAIVER OF SPECIFIED PREMIUM RIDER General Description The Waiver of Specified Premium (WSP) Rider provides for a monthly benefit amount to be credited to the policy as a premium if the insured becomes totally disabled, as defined by the rider, before the policy anniversary at attained age 65. The monthly benefit amount is selected when the rider is issued, and does not have to equal the policy planned premium. The monthly WSP benefit amount is not guaranteed to keep the policy in force and all monthly policy charges continue to be deducted during disability, including the charges for WSP. Availability This rider can be added to non-qualified policies up to issue age 60, at issue or after issue, subject to underwriting approval. The maximum total base face amount for the rider is $5,000,000, inclusive of coverage with MetLife and 7

10 8 with other companies. For insureds under the age of 15, the maximum is $750,000 and for policies table rated D F, the maximum total base face amount is $500,000. Risk Classes and Underwriting WSP is not available if the base coverage has a table rating greater than F or a flat extra, permanent and/or temporary, in excess of $10 per thousand. The WSP rider is rated separately from the base plan and the rates are not sex distinct. The available ratings are 100%, 150%, 200%, 250% or 300% of the standard WSP rating. Rider Charges The charge for this rider is based on the insured s attained age and the rates are expressed as an amount per $100 of benefit amount. WSP Amount Limits The minimum monthly WSP benefit is $10. The maximum monthly WSP benefit is equal to 1/12 of the base policy guideline annual premium, calculated without any riders. 4 Changes in WSP Limits Coverage under this rider can be increased, subject to underwriting rules, only if the face amount of the policy is increased and the insured is not totally disabled. Rider Benefits Disability Beginning Before Attained Age 60 If the insured s total disability (as defined by the rider) begins before attained age 60 but after attained age 5, the Company will credit the monthly premiums waived that were due during a six month period of uninterrupted disability. Subsequently, the Company will continue to credit the monthly premiums waived as long as the insured remains totally disabled of the policy s cash value in the Fixed Account will be an annual effective rate of 3%. The Company may credit a higher rate. The Fixed Account uses a portfolio crediting rate which means that all money in the Fixed Account will be credited with the same interest rate. Disability Beginning Between Ages 60 and 65 Transfers If the insured s total disability (as defined by the rider) begins between attained ages 60 and 65, the Company will credit the monthly premiums waived that were due during a six month period of uninterrupted disability. Subsequently, the Company will continue to credit the monthly premiums waived as long as the insured remains totally disabled, until the insured is attained age 65. Definition of Total Disability The Company will consider the insured totally disabled if he or she is unable to perform the substantial and material duties of his or her regular occupation because of accidental bodily injury or sickness first manifesting itself after the issue date of the rider. However, after such a period of total disability has continued for 60 months, the Company will consider the insured to be totally disabled only if he or she is unable to perform the substantial and material duties of any occupation for which he or she is reasonably fitted by education, training or experience. The Company will consider the total and irrecoverable loss of the sight in eyes, the use of both hands or both feet, or the use of one hand and one foot as a total disability, even if the insured is working at an occupation. Recurrent Total Disability If a subsequent period of total disability commences after a prior period of total disability has ended, the Company will consider the subsequent period to be a continuation of the previous period unless: It is due to an entirely different cause; or The insured has performed all of the material and substantial duties of a gainful occupation for a continuous period of six months or more between such periods of total disability. Termination The rider will terminate on the first of the following events to occur: When the insured reaches attained age 65; The lapse or surrender of the policy; The date of an increase in the face amount of the policy that does not qualify for an increase in coverage under the rider. 4 This amount cannot be exceeded. If the face amount of the policy is decreased, the WSP amount may also need to be decreased to comply. Rider coverage could be reduced to adhere to the above guidelines.

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12 Please Note: MetLife Insurance Company USA and Metropolitan Life Insurance Company have designed this document to provide introductory information on the subject matter. State variations apply. Certain riders may not be available in all states. Descriptions herein are incomplete for a full explanation of the terms and exclusions, please refer to the policy and the riders. Any discussion of taxes is for general informational purposes only, does not purport to be complete or cover every situation, and should not be construed as legal, tax or accounting advice. Clients should confer with their qualified legal, tax and accounting advisors as appropriate. Life insurance is medically underwritten. Clients should not cancel their current coverage until their new coverage is in force. Surrender charges may be due on an exchange of one contract for another. A change in policy may require a medical examination. Surrenders may be taxable. Clients should consult their own tax advisors regarding tax liability on surrenders. MetLife Premier Accumulator Universal Life is issued by MetLife Insurance Company USA on Policy Form 5E and in New York only by Metropolitan Life Insurance Company on Policy Form 1E NY. All product guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company. Life Insurance Products: Not A Deposit Not FDIC-Insured Not Insured By Any Federal Government Agency Not Guaranteed By Any Bank Or Credit Union May Go Down In Value Metropolitan Life Insurance Company 200 Park Avenue, New York, NY MetLife Insurance Company USA North Community House Road Charlotte, NC metlife.com BDUL24668 L [0317] 2015 METLIFE, INC. PEANUTS 2015 Peanuts Worldwide LLC