Basic Death Benefit Options That You Can Choose
Equity Advantage VUL provides three possible basic death benefit options to choose from - Options A, B and C.
Option A
Option A pays the policy's face amount to your beneficiary upon your death, and that amount is not increased by any growth in your policy's cash value. Because the death benefit under Option A does not increase, insurance charges against the policy under Option A are generally lower than under Options B or C, increasing the opportunity for cash value growth.
Option B
Option B pays the policy's face amount plus its cash value to your beneficiary upon your death. The death benefit payable under Option B is therefore potentially much greater than under Option A, depending on your premium payments and investment performance.
Option C
Option C pays both the face amount and the cash value of your policy to your beneficiary upon your death (as Option B does), but only until you reach age 65. On the policy anniversary at age 65, the policy's face amount and cash value are combined and become the policy's new face amount. For the remainder of the life of the policy, Option C pays your beneficiary the new face amount only (as in Option A), leveling the charges against the policy and increasing the opportunity for cash value growth in your older years. You must be 60 years old or younger on the date the policy is issued in order to choose Option C.
Guarantees That You Select1
Trends indicate that investments in equities or bonds generally increase in value over longer periods of time, but markets do have their share of down turns. That's why MetLife guarantees* that the death benefit provided by your Equity Advantage VUL policy won't fall below your chosen face amount - and that the cash value in your policy will not be reduced below zero, should you have negative investment experience - as long as your premium payments2 meet certain requirements.
Equity Advantage VUL lets you select how long you want the guarantee to be in effect — in most states until you reach age 65, 75, or 853. If you select age 75 or 85 but later fall below the premium payments required for a guarantee to that age, the guarantee will be automatically adjusted downward to the next descending age for which you have made sufficient payment. You lose the guarantee completely only if you fail to make the premium payments required to keep the guarantee to the lowest level available, for the face amount and death benefit option you have selected4. Once the guarantee for any age has been lost, additional payments will not bring it back. However all Equity Advantage VUL policies are issued with a guaranteed death benefit for at least the first five policy years.
Premium Payment Options
The face amount you select, the guarantee you choose, and the death benefit option you pick all affect the amount of premium you'll need to pay to keep the guarantee. By exercising your benefit choices, you determine the amount of premium you want to pay.
Equity Advantage VUL also lets you choose the frequency of your premium payments. You may choose to pay annually or semi-annually. Or you may pay monthly if you authorize transfers from your bank checking account. Choose what suits you best. Modal Premium Calculator
Finally, Equity Advantage VUL allows you to make unscheduled premium payments of at least $250 in addition to your premium payments so that you can take advantage of Equity Advantage VUL's tax-deferred earnings capability, provided the total of your payments does not exceed applicable federal limits.
Variable insurance products, including variable annuities and variable life insurance, are offered by prospectus only. The prospectus contains information about the product's features, risks, charges and expenses, and the investment objectives, risks and policies of the underlying portfolios, as well as other information about the underlying funding choices. Read the prospectus and consider this information carefully before you invest. Product availability and features may vary by state. All product guarantees are based on the claims-paying ability of the issuing insurance company.
Please click here for a prospectus, or call 800-MET-5000 or email lifeinfo@metlifeservice.com. Please read the prospectus carefully before investing or sending money.
