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SUPPLEMENT to the PROSPECTUSES dated APRIL 30, 1999 For Metropolitan Life
Separate Account E Preference Plus(R) Account Enhanced Preference Plus Account
Financial Freedom Account Variable Annuity Contracts
Issued By:
Metropolitan Life Insurance Company
You should read this Supplement in conjunction with the appropriate prospectus
for the Metropolitan Life Separate Account E and retain it with your prospectus
for your future reference.
This Supplement is for use between the date Metropolitan Life Insurance Company
("MetLife", "we") adopts a plan of reorganization from a mutual company to a
stock company and the date on which the reorganization takes place. This time
period is referred to as the "pendency period." New York Insurance Law requires
that we provide persons issued a variable annuity contract during the pendency
period with a Notice. Two forms of the Notice follow. The first form applies to
all individual contracts. The second form is for use with all group contracts.
The Notices follow and are part of this Supplement. You should read the
applicable Notice carefully. These Notices are only for use in connection with
MetLife's offering of VARIABLE ANNUITY CONTRACTS for Metropolitan Life Separate
Account E during the pendency period.
NOTICE OF PENDENCY of a Plan of Reorganization
On September 28, 1999, Metropolitan Life Insurance Company ("MetLife" or "we")
adopted a plan of reorganization to convert from a mutual life insurance company
to a stock life insurance company (the "plan"). Upon conversion, MetLife will
become a wholly owned subsidiary of a new publicly owned holding company,
MetLife, Inc. The plan is subject to approval by the New York State
Superintendent of Insurance after a public hearing. In addition, the plan cannot
go into effect unless it is approved by a vote of eligible MetLife policyholders
and contract holders whose policies or contracts were in force on September 28,
1999. Subject to these approvals and certain other conditions, we expect the
plan to become effective during the first quarter of the year 2000. Holders of
policies or contracts who are entitled to vote on the plan will be entitled to
receive certain compensation pursuant to the terms of the plan. Our conversion
to a stock company will have no effect on your rights or our obligations under
your policy or contract, all of which will remain exactly as stated in the
policy or contract. Upon conversion, however, our policyholders and contract
holders will no longer have rights as members of MetLife. (These rights consist
primarily of the right to vote on matters submitted to policyholders for a vote,
including the election of directors, and the right to receive a portion of any
remaining surplus if the company is liquidated.) In addition, because the policy
or contract for which this Notice of Pendency is being given was issued after
September 28, 1999, or was issued but the required premium was not paid by that
date, the New York Insurance Law provides that you will not (by virtue of that
policy or contract) be entitled to vote on the plan or to receive compensation
pursuant to the plan. This Notice of Pendency has no effect on your rights with
respect to any other policies or contracts issued by us. We bring this to your
attention because your policy or contract was not issued by September 28, 1999,
or was issued but the required premium was not paid by that date. Upon receipt
of this Notice of Pendency, you have the right under the New York Insurance Law
to rescind your policy or contract and obtain a refund of any amounts paid with
respect to your policy or contract. A written notice must be delivered to
MetLife stating that you wish to exercise the rescission and refund right under
this Notice of Pendency. Any such notice must be received by our Administrative
Offices or your MetLife representative within ten days of the date you receive
this Notice. If you exercise this rescission and refund right, your application
will be cancelled, your policy or contract will be rescinded, and any premium
you have paid will be refunded to you. You will then have no further rights
under the policy or contract. This notification itself does not affect your
right to exercise any contractual provisions contained within the policy or
contract. For separate account policies or contracts, however, the amount of the
refund would be as described in the Right to Examine Policy or Right to Examine
Contract provision on the cover of your policy or contract form. If you have any
questions regarding this Notice, please contact your Financial Services
Representative or call 1-800-560-5001. KEEP THIS SUPPLEMENT WITH YOUR PROSPECTUS
September 29, 1999 E99098LHJ(exp0900)MLIC-LD NOTICE OF PENDENCY of a Plan of
Reorganization On September 28, 1999, Metropolitan Life Insurance Company
("MetLife" or "we") adopted a plan of reorganization to convert from a mutual
life insurance company to a stock life insurance company (the "plan"). Upon
conversion, MetLife will become a wholly owned subsidiary of a new publicly
owned holding company, MetLife, Inc. The plan is subject to approval by the New
York State Superintendent of Insurance after a public hearing. In addition, the
plan cannot go into effect unless it is approved by a vote of eligible MetLife
policyholders and contract holders whose policies or contracts were in force on
September 28, 1999. Subject to these approvals and certain other conditions, we
expect the plan to become effective during the first quarter of the year 2000.
Holders of policies or contracts who are entitled to vote on the plan will be
entitled to receive certain compensation pursuant to the terms of the plan. Our
conversion to a stock company will have no effect on your rights or our
obligations under your policy or contract, all of which will remain exactly as
stated in the policy or contract. Upon conversion, however, our policyholders
and contract holders will no longer have rights as members of MetLife. (These
rights consist primarily of the right to vote on matters submitted to
policyholders for a vote, including the election of directors, and the right to
receive a portion of any remaining surplus if the company is liquidated.) In
addition, because the effective date of the policy or contract, or the issue
date of the related risk acceptance letter, for which this Notice of Pendency is
being given is or will be after September 28, 1999, the New York Insurance Law
provides that you will not (by virtue of that policy or contract) be entitled to
vote on the plan or to receive compensation pursuant to the plan. This Notice of
Pendency has no effect on your rights with respect to any other policies or
contracts issued by us. We bring this to your attention because the effective
date of your policy or contract, or the issue date of the related risk
acceptance letter, is or will be after September 28, 1999. Upon receipt of this
Notice of Pendency, you have the right under the New York Insurance Law to
rescind any acceptance of our policy or contract proposal and any policy or
contract issued following that acceptance, and obtain a refund of any amounts
paid with respect to your policy or contract, less any benefit payments that we
may have made. A written notice must be delivered to MetLife stating that you
wish to exercise the rescission and refund right under this Notice of Pendency.
Any such notice must be received by our Administrative Offices or your MetLife
representative within ten days of the date you receive this Notice. If you
exercise this rescission and refund right, any application will be cancelled, no
policy or contract will be issued (or, if issued, it will be rescinded), and any
amounts you have paid less any benefit payments that we may have made will be
refunded to you. You will then have no further rights under the policy or
contract. This notification itself does not affect your right to exercise any
contractual provisions contained within the policy or contract, if previously
effective. KEEP THIS SUPPLEMENT WITH YOUR PROSPECTUS September 29, 1999
E99098LHJ(exp0900)MLIC-LD.
SUPPLEMENT to the PROSPECTUSES dated APRIL 30, 1999 For Metropolitan Life
Separate Account E Preference Plus(R) Account Variable Annuity Contracts For
Metropolitan Life Separate Account UL Universal Life II UL 2001
Issued By:
Metropolitan Life Insurance Company
You should read this Supplement in conjunction with the appropriate prospectus
for the Metropolitan Life Separate Account E or Metropolitan Life Separate
Account UL and retain it with your prospectus for your future reference. This
Supplement is for use between the date Metropolitan Life Insurance Company
("MetLife", "we") adopts a plan of reorganization from a mutual company to a
stock company and the date on which the reorganization takes place. This time
period is referred to as the "pendency period." New York Insurance Law requires
that we provide persons issued a variable annuity contract or a flexible premium
multifunded life insurance policy during the pendency period with a Notice. The
Notice follows and is part of this Supplement. You should read it carefully. The
Notice is only for use in connection with MetLife's offering of VARIABLE ANNUITY
CONTRACTS for Metropolitan Life Separate Account E and FLEXIBLE PREMIUM
MULTIFUNDED LIFE INSURANCE POLICIES for Metropolitan Life Separate Account UL
during the pendency period. NOTICE OF PENDENCY of a Plan of Reorganization On
September 28, 1999, Metropolitan Life Insurance Company ("MetLife" or "we")
adopted a plan of reorganization to convert from a mutual life insurance company
to a stock life insurance company (the "plan"). Upon conversion, MetLife will
become a wholly owned subsidiary of a new publicly owned holding company,
MetLife, Inc. The plan is subject to approval by the New York State
Superintendent of Insurance after a public hearing. In addition, the plan cannot
go into effect unless it is approved by a vote of eligible MetLife policyholders
and contract holders whose policies or contracts were in force on September 28,
1999. Subject to these approvals and certain other conditions, we expect the
plan to become effective during the first quarter of the year 2000. Holders of
policies or contracts who are entitled to vote on the plan will be entitled to
receive certain compensation pursuant to the terms of the plan. Our conversion
to a stock company will have no effect on your rights or our obligations under
your policy or contract, all of which will remain exactly as stated in the
policy or contract. Upon conversion, however, our policyholders and contract
holders will no longer have rights as members of MetLife. (These rights consist
primarily of the right to vote on matters submitted to policyholders for a vote,
including the election of directors, and the right to receive a portion of any
remaining surplus if the company is liquidated.) In addition, because the policy
or contract for which this Notice of Pendency is being given was issued after
September 28, 1999, or was issued but the required premium was not paid by that
date, the New York Insurance Law provides that you will not (by virtue of that
policy or contract) be entitled to vote on the plan or to receive compensation
pursuant to the plan. This Notice of Pendency has no effect on your rights with
respect to any other policies or contracts issued by us. We bring this to your
attention because your policy or contract was not issued by September 28, 1999,
or was issued but the required premium was not paid by that date. Upon receipt
of this Notice of Pendency, you have the right under the New York Insurance Law
to rescind your policy or contract and obtain a refund of any amounts paid with
respect to your policy or contract. A written notice must be delivered to
MetLife stating that you wish to exercise the rescission and refund right under
this Notice of Pendency. Any such notice must be received by our Administrative
Offices or your MetLife representative within ten days of the date you receive
this Notice. If you exercise this rescission and refund right, your application
will be cancelled, your policy or contract will be rescinded, and any premium
you have paid will be refunded to you. You will then have no further rights
under the policy or contract. This notification itself does not affect your
right to exercise any contractual provisions contained within the policy or
contract. For separate account policies or contracts, however, the amount of the
refund would be as described in the Right to Examine Policy or Right to Examine
Contract provision on the cover of your policy or contract form. If you have any
questions regarding this Notice, please contact your Financial Services
Representative or call 1-800-Met-5000 (1-800-638-5000) if you have a variable
life policy or 1-800-560-5001 if you have a variable annuity contract. KEEP THIS
SUPPLEMENT WITH YOUR PROSPECTUS September 29, 1999 E99098LHK(exp0900)MLIC-LD.
