- Asset Allocation Portfolios
- Index Portfolios
- Portfolios that invest in Exchange Traded Funds (ETFs)
- Fixed Interest Account
MFFS L Class Product Details
Automated investment strategies1
- The Allocator
- The Index Selector
- The Equity Generator
- The Rebalancer
None. If no contributions are made for more than 24 months (36 months in NY) and the account balance is under $2,000,MetLife may cancel the contract/certificate, if permitted by law, by paying the account balance less any outstanding loans (if loans are permitted by plan). Early withdrawal charges may apply.
Free, non-taxable, unlimited. (Restrictions may apply. See prospectus for more details.)
3% Rollover distribution and direct transfer credit
A 3% bonus (2% in NY) on eligible transfers in the first two contract/certificate years on B and L classes only. (Not available on transfers from other MetLife or MetLife affiliates’ products or if individuals are over age 65 on the contract/certificate issue date). For the 403(b) ERISA, 403(a), 457(b) and 401 markets, the transfer and credit must remain in the Fixed Interest Account for 5 years and is subject to forfeiture if withdrawn prior to 5 years. Other restrictions apply. See prospectus for details.
Income for life
Guarantee a stream of lifetime income.
No contract/certificate withdrawal charge will apply upon:
- a direct transfer to another MetLife approved product
- any withdrawal required to avoid federal income tax penalties or satisfy federal income tax rules (for this annuity contract/certificate only)
After the first contract/certificate year, no contract/certificate withdrawal charge will apply upon:
- terminal illness2
- confinement to a nursing home2
After five years3 from the issue date of the contract/certificate, no contract/certificate withdrawal charges will apply upon:
- severance from employment with the employer individuals had at the time they purchased the contract/certificate
Assuming income has not started, the standard death benefit is the greatest of: (1) Account balance; (2) total purchase payments reduced proportionately for withdrawals (including any applicable withdrawal charges). In each case, the amount is reduced by any outstanding loans, where loans are permitted by plan.
Optional annual step-up death benefit
The Optional Annual Step-Up Death Benefit is the greatest of (less outstanding loans, where loans are permitted by plan):
(1) Account balance; (2) Total purchase payments reduced proportionately for withdrawals; (3) “Highest Anniversary Value” on any contract/certificate anniversary prior to owner’s 81st birthday, plus any subsequent purchase payments and reduced proportionately for withdrawals. This benefit must be elected at the time of purchase and is irrevocable. There is an additional charge of 0.10% annually.
Annual contract/ certificate fee
A $30 annual contract/certificate fee is deducted on a pro rata basis. This fee will be waived if: (1) Account balance exceeds $25,000, or (2) purchase payments exceed $2,000 within the last 12 months (fee not deducted from the Fixed Interest Account).
Annual Separate Account charge
- B Class: 1.15%
- L Class: 1.30%
- C Class*: 1.45%
Annual Separate Account charges for American Funds funding options are an additional 0.25%. Additional investment-related fees and expenses will apply to the selected funding options and optional death benefit.
The following withdrawal charges apply to the amount withdrawn from the account balance based on the age of the contract/certificate issue date.
- B Class: 12-year withdrawal charge schedule: 9%, 9%, 9%, 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 0%
- L Class: 7-year withdrawal charge schedule: 9%, 8%, 7%, 6%, 5%, 4%, 2%, 0%
- C Class*: No withdrawal charges apply.
The fees and charges mentioned above do not include investment management fees and other expenses of the funding options under the contract/certificate. Withdrawal charge schedule may vary by state. Please refer to the prospectus for more information.