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UL 2001, A FLEXIBLE PREMIUM MULTIFUNDED LIFE INSURANCE POLICY
ISSUED BY METROPOLITAN LIFE INSURANCE COMPANY
SUPPLEMENT DATED OCTOBER 30, 2000
TO
PROSPECTUS DATED MAY 1, 2000
This supplements the information contained in the prospectus
("Prospectus") for UL 2001 Flexible Premium Multifunded Life Insurance Policies,
dated May 1, 2000. You should keep this October 30, 2000 Supplement to the
Prospectus for future reference.
1. The section of the Table of Charges and Expenses set forth on page 4 of the
Prospectus entitled "MORTALITY AND EXPENSE RISK CHARGE" and the first three
items listed under the section entitled "SURRENDER CHARGE ON CERTAIN
TRANSACTIONS" of the Table are revised to read as follows:
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<CAPTION>
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Type of Charge or Expense Amount of Charge or Expense
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<S> <C>
Mortality and expense risk charge: .075% of the cash value in the Separate Account on
each monthly anniversary. We intend to (but, except
for Policies issued in New York, do not guarantee
that we will) reduce this charge for Policy years 11
through 15 to .05% and after Policy year 16 to
.025%.*
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SURRENDER CHARGE ON CERTAIN TRANSACTIONS:
Full surrender or termination of your Policy during The lesser of actual cumulative premiums paid and 75%
its 1st year: of the Maximum Surrender Charge Premium at issue for
the Policy and all riders.
Full surrender or termination of your Policy during The lesser of actual cumulative premiums paid and
its 2nd year: 100% of the Maximum Surrender Charge Premium at issue
for the Policy and all riders.
Full surrender or termination of your Policy during A declining schedule of percentages based upon the
its 3rd through 15th year: year 2 surrender charge.
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Approval pending for policies issued in New York. Until such approval
is received, we intend to (but, except for Policies issued in New York, do not
guarantee that we will) reduce this charge after Policy year 10 to .05%.
Under the section "OPTIONAL BENEFITS ADDED BY RIDER" on pages 14 and 15, after
the footnotes following the rider table at the top of the page, add the
following paragraph:
"On or about March 1, 2001, we intend to offer an Option to Purchase Long-Term
Care Insurance rider on certain Policies issued after such date. This rider
gives the Policy owner the option to purchase long-term care insurance on the
life of the insured, at future specified Purchase Option Dates, without
additional underwriting. The new long-term care insurance policy will be one
offered by MetLife or by an affiliate designated by us on the Purchase Option
Date, subject to rider specifications about plan benefits. We will issue this
Rider only in states that have approved such long-term care insurance plans."
The third bullet under the second paragraph that begins: "As of your loan
request's Date of Receipt, we will:" under the heading "LOAN PRIVILEGES" on page
17 of the Prospectus is replaced in its entirety by the following language:
- "Charge you interest, which will accrue daily at a rate of 6% per year
(which is the maximum rate we will ever charge). We currently intend to
(but don't guarantee that we will) reduce this rate to 4.6% for Policy
years 11 through 15 and to 4.3% after the 15th Policy year.* Your interest
payments are due at the end of each Policy year and if you don't pay the
amount within 31 days after it is due, we will treat it as a new Policy
loan."
* Pending approval for Policies issued in New York. Until then, we intend
to (but don't guarantee that we will) reduce this rate to 4.6% after the
10th Policy year.
Metropolitan Life Insurance Company
One Madison Avenue
New York, NY 10010
UL 2001 Supplement 10/2000
1900018111(1000) E000108VIF(exp1102)MLIC-LD
