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FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICIES
ISSUED BY METROPOLITAN LIFE INSURANCE COMPANY
SUPPLEMENT DATED AUGUST 1, 2000
TO
PROSPECTUS DATED MAY 1, 2000
This supplements the information contained in the prospectus ("Prospectus") for
Flexible Premium Variable Life Insurance Policies, dated May 1, 2000. You should
keep this August 1, 2000 Supplement to the Prospectus for future reference.
1. The Table of Charges and Expenses set forth on pages 4 and 5 of the
Prospectus is revised to read as follows:
TABLE OF CHARGES AND EXPENSES
This table shows, subject to state approval, the charges and expenses that you
pay under your Policy. See "Charges and Deductions," below for more information
about your Policy's charges:
<TABLE>
<CAPTION>
<S> <C>
TYPE OF CHARGE OR EXPENSE AMOUNT OF CHARGE OR EXPENSE
<CAPTION>
Charges we deduct from each premium payment
<S> <C>
Sales charge: For Policies issued prior to May 1, 1996 or in
connection with certain employer sponsored plans
effective prior to August 1, 2000, up to 1% of
each premium payment;
For all other Polices(1)
- POLICY YEARS 1 TO 10--up to 9% of premiums paid
(we currently charge 6.5%)
- POLICY YEARS 11 AND LATER--up to 3% of premiums
paid,
until the total of payments in each such Policy
year equals the annual target premium(2) for that
year.
- There is no sales charge for payments in excess
of the annual target premium(3) in any Policy
year.
Charge for average expected state taxes 2.25% of each premium payment
attributable to premiums:
Charge for expected federal taxes attributable to 1.2% of each premium payment
premiums:
Administrative charge: Up to 1.05% of each premium payment. We reduce the
charge to .05% on the portion of any premiums paid
in a Policy year above the annual target
premium(2).
Monthly Deduction from your Policy's cash value
Cost of term insurance charges: Amount varies depending on the specifics of your
Policy(3)
Mortality and expense risk charge: For Policies issued prior to May 1, 1996, or in
connection with certain employer sponsored plans
effective prior to August 1, 2000, the charge is
currently equivalent to an effective annual rate
of up to .60% of the cash value in the Separate
Account. We intend to reduce this charge after
Policy year 9 to .30%. For all other Policies, the
charge is currently equivalent to an effective
annual rate of up to .48% of the cash value in the
Separate Account. We intend to reduce this charge
after Policy year 9 to .36% and after Policy year
20 to .30%. We may increase this charge to not
more than .90% at any time.
Underwriting charge: (applies only if you request A one time charge of up to $3 per thousand dollars
an increase in your specified face amount) of increase.
Charges for optional rider benefits(4): As specified in the form of each rider.
Transfer charge: We do not charge for the first six transfers in a
Policy year; we charge $25 for each additional
transfer you make in a Policy year.
</TABLE>
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(1)Except in certain states, if you surrender your Policy during the first three
Policy years (first five Policy years for Policies issued on or after August 1,
2000), we will refund any sales load deducted within 365 days prior to the date
the request for surrender is received at our Designated Office.
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(2) See "Annual Target Premium" under "Charges and Deductions" for a detailed
discussion of the determination of the annual target premium. For some Policies,
an increase or decrease in the specified face amount will result in a
proportionate increase or decrease in the annual target premium. This could, in
turn, increase or decrease sales and administrative charges.
(3) See "Cost of Term Insurance" under "Charges and Deductions" for a more
detailed discussion of factors affecting this charge. If you would like, we will
provide you with an illustration of the impact of these and other charges under
the Policy based on various assumptions.
(4) Except for the interim term insurance rider, the charge for which is paid
for separately.
2. The first sentence above "Cash Value" on page 14 of the Prospectus is
revised to read as follows:
"For Policies issued on or after May 1, 1996 in connection with other
than certain employer sponsored plans effective prior to August 1, 2000,
the sales charge and the administration charge may change."
3. The first bullet under "Annual Target Premium:" on page 21 of the Prospectus
is revised to read as follows:
- "For Policies issued prior to May 1, 1996 or issued in connection with
certain employer sponsored plans effective prior to August 1, 2000, 50% of
the estimated annual amount which satisfied the 7-Pay test under federal
tax law based on the issue age of the insured and the initial specified
face amount. (See "Modified Endowment Contracts" under "Federal Tax
Matters.")"
4. The bullets describing the maximum commissions payable in a Policy year
under "Commissions" on page 27 of the Prospectus are revised to read as follows:
- "POLICY YEAR 1:
15% of premiums paid up to the target premium
2% of premiums paid above the target premium
- POLICY YEARS 2 - 10:
10% of premiums paid up to the target premium
1.5% of premiums paid above the target premium
- POLICY YEARS 11 AND LATER:
3% of premiums paid up to the target premium
1.5% of premiums paid above the target premium
- POLICY YEARS 8 AND LATER: We may pay up to .15% of the cash value of a
Policy and administrative expenses in certain circumstances."
Metropolitan Life Insurance Company
One Madison Avenue
New York, NY 10010
1900002349(exp0501)MLIC-LD
Metflex Supplement 8/2000
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