Metropolitan Life Separate Account UL, et al. – ‘485BPOS’ on 4/11/13

On:  Thursday, 4/11/13, at 4:42pm ET   ·   Effective:  4/29/13   ·   Accession #:  1193125-13-151105   ·   File #s:  33-47927, 811-06025

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Post-Effective Amendment
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 485BPOS     Mlic Equity Advantage Vul Post-Effective Amendment   421   2.65M 
                          No. 27                                                 
 2: EX-99.(C)(VII)  Master Retail Sales Agreement                     25    109K 
 3: EX-99.(N)   Consent of Independent Registered Public               1      7K 
                          Accounting Firm                                        
 4: EX-99.(R)(II)  Power of Attorney                                   2     12K 

485BPOS   —   Mlic Equity Advantage Vul Post-Effective Amendment No. 27
Document Table of Contents

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          As filed with the Securities and Exchange Commission on April 11, 2013

                                                     Registration Nos. 033-47927
                                                                       811-06025

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

  FORM N-6

         REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

         Post-Effective Amendment No. 27 [X]

and/or

               REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

  Amendment No. 59 [X]

 Metropolitan Life Separate Account UL
(Exact Name of Registrant)

 Metropolitan Life Insurance Company
 (Name of Depositor)
 200 Park Avenue
New York, NY 10166
(Address of depositor's principal executive offices)

Ricardo A. Anzaldua, Esq. 

Executive Vice President and General Counsel
 Metropolitan Life Insurance Company
 1095 Avenue of the Americas
New York, NY 10036

(Name and address of agent for service)     

Copy to:

  Stephen E. Roth, Esquire
 Sutherland Asbill & Brennan LLP
1275 Pennsylvania Avenue, N.W.
 Washington, D.C. 20004-2415
(202) 383-0158

It is proposed that this filing will become effective (check appropriate box)   

[_] immediately upon filing pursuant to paragraph (b)                 

[X] on April 29, 2013 pursuant to paragraph (b)                       

[_] 60 days after filing pursuant to paragraph (a)(1)                 

[_] on (date) pursuant to paragraph (a)(1) of Rule 485                

 [_] this post-effective amendment designates a new effective date for a
previously filed post-effective amendment                                       

Title of Securities Being Registered: Interests in Metropolitan Life Separate   
Account UL, which funds certain Variable Universal Life Insurance Policies.     

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Note:                                                                           

This registration statement incorporates by reference the prospectuses and      
supplements dated April 30, 2012, May 1, 2011, May 1, 2010, May 1, 2009 and     
April 28, 2008 for the Equity Advantage VUL Policy, each as filed in            
Post-Effective Amendment No. 26 filed April 12, 2012, Post-Effective Amendment  
No. 25 filed April 13, 2011, Post-Effective Amendment No. 24 filed April 16,    
2010, Post-Effective Amendment No. 23 filed April 16, 2009 and Post- Effective  
Amendment No. 22 filed April 18, 2008, respectively, to the Registration        
Statement on Form N-6 (File No. 033-47927); and                                 

This registration statement incorporates by reference the prospectuses and      
supplements dated April 28, 2008, April 30, 2007, May 1, 2006, May 1, 2005,     
May 1, 2004 and May 1, 2003 for the UL II Policy, each as filed in Post-        
Effective Amendment No. 22 filed April 18, 2008, Post-Effective Amendment No. 21
filed April 18, 2007, Post-Effective Amendment No. 20 filed April 25, 2006, Post
-Effective Amendment No. 19 filed April 29, 2005, Post-Effective Amendment      
No. 18 filed April 30, 2004 and Post-Effective Amendment No. 17 filed April 29, 
2003, respectively, to the Registration Statement on Form N-6 (File No. 033-    
47927).                                                                         

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METROPOLITAN LIFE INSURANCE COMPANY 

EQUITY ADVANTAGE VUL -- FLEXIBLE PREMIUM MULTIFUNDED LIFE INSURANCE POLICIES  

UL II -- FLEXIBLE PREMIUM MULTIFUNDED LIFE INSURANCE POLICIES 

SUPPLEMENT DATED APRIL 29, 2013 TO  

Prospectus Dated April 28, 2008 as previously amended (for Equity Advantage VUL)
Prospectus Dated May 1, 2003 as previously amended (for UL II)  

This supplement updates certain information contained in your last prospectus,  
as annually and periodically supplemented. You should read and retain this      
supplement with your Policy. We will send you an additional copy of your most   
recent prospectus (and any previous supplements thereto), without charge, on    
written request sent to MetLife, P.O. Box 543, Warwick, RI 02887-0543. Equity   
Advantage VUL and UL II Policies ARE NO LONGER AVAILABLE FOR SALE.              

You allocate net premiums to and may transfer cash value among the available    
investment divisions of the Metropolitan Life Separate Account UL (and, for     
Equity Advantage VUL, the Fixed Account). Each available investment division,   
in turn, invests in the shares of one of the following Portfolios:              

AMERICAN FUNDS INSURANCE SERIES(R) (CLASS 2 SHARES) 
American Funds Bond Fund                                                        
American Funds Global Small Capitalization Fund                                 
American Funds Growth Fund                                                      
American Funds Growth-Income Fund                                               

MET INVESTORS SERIES TRUST (CLASS A SHARES) 
BlackRock Large Cap Core Portfolio                                              
Clarion Global Real Estate Portfolio                                            

ClearBridge Aggressive Growth Portfolio (formerly Legg Mason ClearBridge        
Aggressive Growth Portfolio                                                   

Harris Oakmark International Portfolio                                          
Invesco Small Cap Growth Portfolio                                              
Janus Forty Portfolio                                                           

Lord Abbett Bond Debenture Portfolio                                            
Lord Abbett Mid Cap Value Portfolio                                             
MetLife Aggressive Strategy Portfolio                                           
MFS(R) Research International Portfolio                                         
Morgan Stanley Mid Cap Growth Portfolio                                         

Oppenheimer Global Equity Portfolio                                             

PIMCO Inflation Protected Bond Portfolio                                        
PIMCO Total Return Portfolio                                                    

SSgA Growth and Income ETF Portfolio                                            
SSgA Growth ETF Portfolio                                                       
T. Rowe Price Mid Cap Growth Portfolio                                          

METROPOLITAN SERIES FUND (CLASS A SHARES) 

Baillie Gifford International Stock Portfolio                                   
Barclays Aggregate Bond Index Portfolio (formerly Barclays Capital Aggregate    
Bond Index Portfolio)                                                         

BlackRock Bond Income Portfolio                                                 

BlackRock Capital Appreciation Portfolio (formerly BlackRock Legacy Large Cap   
Growth Portfolio)                                                             

BlackRock Diversified Portfolio                                                 
BlackRock Large Cap Value Portfolio                                             

BlackRock Money Market Portfolio*                                               
Davis Venture Value Portfolio                                                   

Frontier Mid Cap Growth Portfolio (formerly BlackRock Aggressive Growth         
Portfolio)                                                                    

Jennison Growth Portfolio                                                       
Loomis Sayles Small Cap Core Portfolio                                          
Loomis Sayles Small Cap Growth Portfolio                                        
Met/Artisan Mid Cap Value Portfolio                                             
MetLife Conservative Allocation Portfolio                                       
MetLife Conservative to Moderate Allocation Portfolio                           
MetLife Mid Cap Stock Index Portfolio                                           
MetLife Moderate Allocation Portfolio                                           
MetLife Moderate to Aggressive Allocation Portfolio                             
MetLife Stock Index Portfolio                                                   
MFS(R) Total Return Portfolio                                                   
MFS(R) Value Portfolio                                                          

MSCI EAFE(R) Index Portfolio                                                    

Neuberger Berman Genesis Portfolio                                              
Russell 2000(R) Index Portfolio                                                 
T. Rowe Price Large Cap Growth Portfolio                                        
T. Rowe Price Small Cap Growth Portfolio                                        
Western Asset Management Strategic Bond Opportunities Portfolio                 
Western Asset Management U.S. Government Portfolio                              
--------                                                                        
* The BlackRock Money Market Portfolio is not available for Equity Advantage    
VUL Policies.                                                                   

The prospectuses for the Portfolios describe in greater detail an investment in 
the Portfolios. YOU CAN OBTAIN PROSPECTUSES FOR THE PORTFOLIOS BY CALLING       
1-800-638-5000.                                                                 

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SENDING COMMUNICATIONS AND PAYMENTS TO US                                       

You can communicate all of your requests, instructions and notifications to us  
by contacting us in writing at our Designated Office. We may require that       
certain requests, instructions and notifications be made on forms that we       
provide. These include: changing your beneficiary; taking a Policy loan;        
changing your death benefit option; taking a partial withdrawal; surrendering   
your Policy; making transfer requests (including elections with respect to the  
automated investment strategies) or changing your premium allocations. As of    
the date of this prospectus, requests for partial withdrawals and Policy loans  
must be in writing. However, you should contact us at 1-800-MET-5000 for our    
current procedures. Below is a list of our Designated Offices for various       
functions. We may name additional or alternate Designated Offices. If we do, we 
will notify you in writing. You may also contact us at 1-800-MET-5000 for       
information on where to direct communication regarding any function not listed  
below or for any other inquiry.                                                 

                                                                [Download Table]

               FUNCTION                         DESIGNATED OFFICE ADDRESS        
---------------------------------------------------------------------------------
                                                                                 
Premium Payments                         MetLife P.O. Box 371351, Pittsburgh, PA 
                                           15250-7351                            
---------------------------------------------------------------------------------
Payment Inquiries                        MetLife, P.O. Box 354, Warwick, RI      
                                           02887-0354                            
---------------------------------------------------------------------------------
Surrenders, Withdrawals, Loans,          MetLife, P.O. Box 543, Warwick, RI      
  Investment Division Transfers,           02887-0543                            
  Premium Reallocation                                                           
---------------------------------------------------------------------------------
Death Claims                             MetLife, P.O. Box 353, Warwick, RI      
                                           02887-0353                            
---------------------------------------------------------------------------------
Beneficiary & Assignment                 MetLife, P.O. Box 313, Warwick, RI      
                                           02887-0313                            
---------------------------------------------------------------------------------
Address Changes                          MetLife, 500 Schoolhouse Road,          
                                           Johnstown, PA 15904                   
                                         Attn: Data Integrity                    
---------------------------------------------------------------------------------
Reinstatements                           MetLife, P.O. Box 30375, Tampa, FL 33630
---------------------------------------------------------------------------------

If you send your premium payments or transaction requests to an address other   
than the one we have designated for receipt of such premium payments or         
requests, we may return the premium payment to you, or there may be a delay in  
applying the premium payment or transaction to your Policy.                     

OUR SEPARATE ACCOUNT THAT SUPPORTS THE POLICIES                                 

THE SEPARATE ACCOUNT                                                            

The following is added to this section:                                         

The investment adviser to certain of the Portfolios offered with the Policy or  
with other variable life insurance policies issued through the Separate Account 
may be regulated as Commodity Pool Operators. While it does not concede that    
the Separate Account is a commodity pool, MetLife has claimed an exclusion from 
the definition of the term "commodity pool operator" under the Commodities      
Exchange Act ("CEA"), and is not subject to registration or regulation as a     
pool operator under the CEA.                                                    

THE FUNDS AND THEIR PORTFOLIOS                                                  

The following replaces the section entitled "Management of the Portfolios".     

MANAGEMENT OF PORTFOLIOS                                                        

Each Fund has an investment adviser who is responsible for overall management   
of the Fund. These investment advisers have contracted with sub-advisers to     
make the day-to-day investment decisions for some of the Portfolios.            

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The adviser, any sub-adviser and investment objective of each Portfolio are as  
follows:                                                                        

                                                        [Enlarge/Download Table]

---------------------------------------------------------------------------------------------------------------------
                                                        INVESTMENT OBJECTIVE          INVESTMENT ADVISER/SUBADVISER  
---------------------------------------------------------------------------------------------------------------------
                                                                                                                     
AMERICAN FUNDS INSURANCE SERIES(R)--CLASS 2                                                                          
---------------------------------------------------------------------------------------------------------------------
American Funds Bond Fund                         Seeks as high a level of current    Capital Research and            
                                                 income as is consistent with the    Management Company              
                                                 preservation of capital.                                            
---------------------------------------------------------------------------------------------------------------------
American Funds Global Small Capitalization Fund  Seeks long-term growth of capital.  Capital Research and            
                                                                                     Management Company              
---------------------------------------------------------------------------------------------------------------------
American Funds Growth Fund                       Seeks growth of capital.            Capital Research and            
                                                                                     Management Company              
---------------------------------------------------------------------------------------------------------------------
American Funds Growth-Income Fund                Seeks long-term growth of capital   Capital Research and            
                                                 and income.                         Management Company              
---------------------------------------------------------------------------------------------------------------------
MET INVESTORS SERIES TRUST--CLASS A                                                                                  
---------------------------------------------------------------------------------------------------------------------
BlackRock Large Cap Core Portfolio               Seeks long-term capital growth.     MetLife Advisers, LLC           
                                                                                     Subadviser: BlackRock Advisors, 
                                                                                     LLC                             
---------------------------------------------------------------------------------------------------------------------
Clarion Global Real Estate Portfolio             Seeks total return through          MetLife Advisers, LLC           
                                                 investment in real estate           Subadviser: CBRE Clarion        
                                                 securities, emphasizing both        Securities LLC                  
                                                 capital appreciation and current                                    
                                                 income.                                                             
---------------------------------------------------------------------------------------------------------------------
ClearBridge Aggressive Growth Portfolio          Seeks capital appreciation.         MetLife Advisers, LLC           
                                                                                     Subadviser: ClearBridge         
                                                                                     Investments, LLC (formerly      
                                                                                     ClearBridge Advisors, LLC)      
---------------------------------------------------------------------------------------------------------------------
Harris Oakmark International Portfolio           Seeks long-term capital             MetLife Advisers, LLC           
                                                 appreciation.                       Subadviser: Harris Associates   
                                                                                     L.P.                            
---------------------------------------------------------------------------------------------------------------------
Invesco Small Cap Growth Portfolio               Seeks long-term growth of capital.  MetLife Advisers, LLC           
                                                                                     Subadviser: Invesco Advisers,   
                                                                                     Inc.                            
---------------------------------------------------------------------------------------------------------------------
Janus Forty Portfolio                            Seeks capital appreciation.         MetLife Advisers, LLC           
                                                                                     Subadviser: Janus Capital       
                                                                                     Management LLC                  
---------------------------------------------------------------------------------------------------------------------
Lord Abbett Bond Debenture Portfolio             Seeks high current income and       MetLife Advisers, LLC           
                                                 the opportunity for capital         Subadviser: Lord, Abbett & Co.  
                                                 appreciation to produce a high      LLC                             
                                                 total return.                                                       
---------------------------------------------------------------------------------------------------------------------
Lord Abbett Mid Cap Value Portfolio              Seeks capital appreciation          MetLife Advisers, LLC           
                                                 through investments, primarily in   Subadviser: Lord, Abbett & Co.  
                                                 equity securities, which are        LLC                             
                                                 believed to be undervalued in the                                   
                                                 marketplace.                                                        
---------------------------------------------------------------------------------------------------------------------
MetLife Aggressive Strategy Portfolio            Seeks growth of capital.            MetLife Advisers, LLC           
---------------------------------------------------------------------------------------------------------------------
MFS(R) Research International Portfolio          Seeks capital appreciation.         MetLife Advisers, LLC           
                                                                                     Subadviser: Massachusetts       
                                                                                     Financial Services Company      
---------------------------------------------------------------------------------------------------------------------
Morgan Stanley Mid Cap Growth Portfolio          Seeks capital appreciation.         MetLife Advisers, LLC           
                                                                                     Subadviser: Morgan Stanley      
                                                                                     Investment Management Inc.      
---------------------------------------------------------------------------------------------------------------------
Oppenheimer Global Equity Portfolio              Seeks capital appreciation.         MetLife Advisers, LLC           
                                                                                     Subadviser: OppenheimerFunds,   
                                                                                     Inc.                            
---------------------------------------------------------------------------------------------------------------------
PIMCO Inflation Protected Bond Portfolio         Seeks maximum real return,          MetLife Advisers, LLC           
                                                 consistent with preservation of     Subadviser: Pacific Investment  
                                                 capital and prudent investment      Management Company LLC          
                                                 management.                                                         
---------------------------------------------------------------------------------------------------------------------

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-------------------------------------------------------------------------------------------------------------------
                                                      INVESTMENT OBJECTIVE          INVESTMENT ADVISER/SUBADVISER  
-------------------------------------------------------------------------------------------------------------------
                                                                                                                   
PIMCO Total Return Portfolio                   Seeks maximum total return,         MetLife Advisers, LLC           
                                               consistent with the preservation    Subadviser: Pacific Investment  
                                               of capital and prudent investment   Management Company LLC          
                                               management.                                                         
-------------------------------------------------------------------------------------------------------------------
SSgA Growth and Income ETF Portfolio           Seeks growth of capital and         MetLife Advisers, LLC           
                                               income.                             Subadviser: SSgA Funds          
                                                                                   Management, Inc.                
-------------------------------------------------------------------------------------------------------------------
SSgA Growth ETF Portfolio                      Seeks growth of capital.            MetLife Advisers, LLC           
                                                                                   Subadviser: SSgA Funds          
                                                                                   Management, Inc.                
-------------------------------------------------------------------------------------------------------------------
T. Rowe Price Mid Cap Growth Portfolio         Seeks long-term growth of capital.  MetLife Advisers, LLC           
                                                                                   Subadviser: T. Rowe Price       
                                                                                   Associates, Inc.                
-------------------------------------------------------------------------------------------------------------------
METROPOLITAN SERIES FUND--CLASS A                                                                                  
-------------------------------------------------------------------------------------------------------------------
Baillie Gifford International Stock Portfolio  Seeks long-term growth of capital.  MetLife Advisers, LLC           
                                                                                   Subadviser: Baillie Gifford     
                                                                                   Overseas Limited                
-------------------------------------------------------------------------------------------------------------------
Barclays Aggregate Bond Index Portfolio        Seeks to track the performance of   MetLife Advisers, LLC           
                                               the Barclays U.S. Aggregate         Subadviser: MetLife Investment  
                                               Bond Index.                         Management, LLC                 
-------------------------------------------------------------------------------------------------------------------
BlackRock Bond Income Portfolio                Seeks a competitive total return    MetLife Advisers, LLC           
                                               primarily from investing in fixed-  Subadviser: BlackRock Advisors, 
                                               income securities.                  LLC                             
-------------------------------------------------------------------------------------------------------------------
BlackRock Capital Appreciation Portfolio       Seeks long-term growth of capital.  MetLife Advisers, LLC           
                                                                                   Subadviser: BlackRock Advisors, 
                                                                                   LLC                             
-------------------------------------------------------------------------------------------------------------------
BlackRock Diversified Portfolio                Seeks high total return while       MetLife Advisers, LLC           
                                               attempting to limit investment      Subadviser: BlackRock Advisors, 
                                               risk and preserve capital.          LLC                             
-------------------------------------------------------------------------------------------------------------------
BlackRock Large Cap Value Portfolio            Seeks long-term growth of capital.  MetLife Advisers, LLC           
                                                                                   Subadviser: BlackRock Advisors, 
                                                                                   LLC                             
-------------------------------------------------------------------------------------------------------------------
BlackRock Money Market Portfolio/1/            Seeks a high level of current       MetLife Advisers, LLC           
  (NOT AVAILABLE FOR EQUITY ADVANTAGE VUL      income consistent with              Subadviser: BlackRock Advisors, 
   POLICIES)                                   preservation of capital.            LLC                             
-------------------------------------------------------------------------------------------------------------------
Davis Venture Value Portfolio                  Seeks growth of capital.            MetLife Advisers, LLC           
                                                                                   Subadviser: Davis Selected      
                                                                                   Advisers, L.P.                  
-------------------------------------------------------------------------------------------------------------------
Frontier Mid Cap Growth Portfolio              Seeks maximum capital               MetLife Advisers, LLC           
                                               appreciation.                       Subadviser: Frontier Capital    
                                                                                   Management Company, LLC*        
-------------------------------------------------------------------------------------------------------------------
Jennison Growth Portfolio                      Seeks long-term growth of capital.  MetLife Advisers, LLC           
                                                                                   Subadviser: Jennison Associates 
                                                                                   LLC                             
-------------------------------------------------------------------------------------------------------------------
Loomis Sayles Small Cap Core Portfolio         Seeks long-term capital growth      MetLife Advisers, LLC           
                                               from investments in common          Subadviser: Loomis, Sayles &    
                                               stocks or other equity securities.  Company, L.P.                   
-------------------------------------------------------------------------------------------------------------------
Loomis Sayles Small Cap Growth Portfolio       Seeks long-term capital growth.     MetLife Advisers, LLC           
                                                                                   Subadviser: Loomis, Sayles &    
                                                                                   Company, L.P.                   
-------------------------------------------------------------------------------------------------------------------
Met/Artisan Mid Cap Value Portfolio            Seeks long-term capital growth.     MetLife Advisers, LLC           
                                                                                   Subadviser: Artisan Partners    
                                                                                   Limited Partnership             
-------------------------------------------------------------------------------------------------------------------
MetLife Conservative Allocation Portfolio      Seeks a high level of current       MetLife Advisers, LLC           
                                               income, with growth of capital as                                   
                                               a secondary objective.                                              
-------------------------------------------------------------------------------------------------------------------
MetLife Conservative to Moderate Allocation    Seeks high total return in the      MetLife Advisers, LLC           
 Portfolio                                     form of income and growth of                                        
                                               capital, with a greater emphasis                                    
                                               on income.                                                          
-------------------------------------------------------------------------------------------------------------------

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----------------------------------------------------------------------------------------------------------------
                                                   INVESTMENT OBJECTIVE          INVESTMENT ADVISER/SUBADVISER  
----------------------------------------------------------------------------------------------------------------
                                                                                                                
MetLife Mid Cap Stock Index Portfolio      Seeks to track the performance of     MetLife Advisers, LLC          
                                           the S&P MidCap 400(R) Composite       Subadviser: MetLife Investment 
                                           Stock Price Index.                    Management, LLC                
----------------------------------------------------------------------------------------------------------------
MetLife Moderate Allocation Portfolio      Seeks a balance between a high        MetLife Advisers, LLC          
                                           level of current income and                                          
                                           growth of capital, with a greater                                    
                                           emphasis on growth of capital.                                       
----------------------------------------------------------------------------------------------------------------
MetLife Moderate to Aggressive Allocation  Seeks growth of capital.              MetLife Advisers, LLC          
 Portfolio                                                                                                      
----------------------------------------------------------------------------------------------------------------
MetLife Stock Index Portfolio              Seeks to track the performance of     MetLife Advisers, LLC          
                                           the S&P 500(R) Composite Stock        Subadviser: MetLife Investment 
                                           Price Index.                          Management, LLC                
----------------------------------------------------------------------------------------------------------------
MFS(R) Total Return Portfolio              Seeks a favorable total return        MetLife Advisers, LLC          
                                           through investment in a               Subadviser: Massachusetts      
                                           diversified portfolio.                Financial Services Company     
----------------------------------------------------------------------------------------------------------------
MFS(R) Value Portfolio                     Seeks capital appreciation.           MetLife Advisers, LLC          
                                                                                 Subadviser: Massachusetts      
                                                                                 Financial Services Company     
----------------------------------------------------------------------------------------------------------------
MSCI EAFE(R) Index Portfolio               Seeks to track the performance of     MetLife Advisers, LLC          
                                           the MSCI EAFE(R) Index.               Subadviser: MetLife Investment 
                                                                                 Management, LLC                
----------------------------------------------------------------------------------------------------------------
Neuberger Berman Genesis Portfolio         Seeks high total return, consisting   MetLife Advisers, LLC          
                                           principally of capital appreciation.  Subadviser: Neuberger Berman   
                                                                                 Management LLC                 
----------------------------------------------------------------------------------------------------------------
Russell 2000(R) Index Portfolio            Seeks to track the performance of     MetLife Advisers, LLC          
                                           the Russell 2000(R) Index.            Subadviser: MetLife Investment 
                                                                                 Management, LLC                
----------------------------------------------------------------------------------------------------------------
T. Rowe Price Large Cap Growth Portfolio   Seeks long-term growth of capital     MetLife Advisers, LLC          
                                           and, secondarily, dividend income.    Subadviser: T. Rowe Price      
                                                                                 Associates, Inc.               
----------------------------------------------------------------------------------------------------------------
T. Rowe Price Small Cap Growth Portfolio   Seeks long-term capital growth.       MetLife Advisers, LLC          
                                                                                 Subadviser: T. Rowe Price      
                                                                                 Associates, Inc.               
----------------------------------------------------------------------------------------------------------------
Western Asset Management Strategic Bond    Seeks to maximize total return        MetLife Advisers, LLC          
 Opportunities Portfolio                   consistent with preservation of       Subadviser: Western Asset      
                                           capital.                              Management Company             
----------------------------------------------------------------------------------------------------------------
Western Asset Management U.S. Government   Seeks to maximize total return        MetLife Advisers, LLC          
 Portfolio                                 consistent with preservation of       Subadviser: Western Asset      
                                           capital and maintenance of            Management Company             
                                           liquidity.                                                           
----------------------------------------------------------------------------------------------------------------

* Prior to January 7, 2013, BlackRock Advisors, LLC was the subadviser to the   
Portfolio.                                                                  

/1/ An investment in the BlackRock Money Market Portfolio is not insured or     
guaranteed by the Federal Deposit Insurance Corporation or any other    
government agency. Although the Portfolio seeks to preserve the value of
your investment at $100 per share, it is possible to lose money by      
  investing in the Portfolio. During extended periods of low interest rates,
the yields of the investment division in the BlackRock Money Market     
Portfolio may become extremely low and possibly negative.               

A Portfolio may have a name and/or objective that is very similar to that of a  
publicly available mutual fund that is managed by the same sub-investment       
manager or adviser. The Portfolios are not publicly available and will not have 
the same performance as those publicly available mutual funds. Different        
performance will result from differences in implementation of investment        
policies, cash flows, fees and size of the Portfolio.                           

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FEE TABLES                                                                      

The following replaces the section entitled "Annual Portfolio Operating         
Expenses".                                                                      

ANNUAL PORTFOLIO OPERATING EXPENSES                                             

The following tables describe the fees and expenses that the Portfolios will    
pay and that therefore a Policy owner will indirectly pay periodically during   
the time that he or she owns a Policy. The first table shows the minimum and    
maximum fees and expenses charged by the Portfolios for the fiscal year ended   
December 31, 2012. More detail concerning each Portfolio's fees and expenses is 
contained in the table that follows this table and in the prospectuses for the  
Portfolios. Certain Portfolios may impose a redemption fee in the future.       

The next table describes the annual operating expenses for each Portfolio for   
the year ended December 31, 2012, as a percentage of the Portfolio's average    
daily net assets for the year (before and after fee waivers and expense         
reimbursements).                                                                

MINIMUM AND MAXIMUM TOTAL ANNUAL PORTFOLIO OPERATING EXPENSES                   

                                                        [Enlarge/Download Table]

-----------------------------------------------------------------------------------------------
                                                                                MINIMUM MAXIMUM
-----------------------------------------------------------------------------------------------
                                                                                               
Total Annual Portfolio Operating Expenses                                                      
 (expenses that are deducted from Portfolio assets, including management fees,                 
 distribution and/or service (12b-1) fees, and other expenses)                   0.28%   1.07% 
-----------------------------------------------------------------------------------------------

PORTFOLIO FEES AND EXPENSES                                                     
(as a percentage of average daily net assets)                                   

                                                        [Enlarge/Download Table]

---------------------------------------------------------------------------------------------------
                                  DISTRIBUTION                                                     
                                     AND/OR             ACQUIRED   TOTAL                  NET TOTAL
                          MANAGE-   SERVICE               FUND    ANNUAL     FEE WAIVER    ANNUAL  
                           MENT     (12B-1)     OTHER   FEES AND OPERATING AND/OR EXPENSE OPERATING
                            FEE       FEES     EXPENSES EXPENSES EXPENSES  REIMBURSEMENT  EXPENSES 
---------------------------------------------------------------------------------------------------
                                                                                                   
AMERICAN FUNDS                                                                                     
 INSURANCE SERIES(R) --                                                                            
 CLASS 2                                                                                           
---------------------------------------------------------------------------------------------------
American Funds Bond                                                                                
 Fund                      0.37%     0.25%      0.02%      --      0.64%          --        0.64%  
---------------------------------------------------------------------------------------------------
American Funds Global                                                                              
 Small Capitalization                                                                              
 Fund                      0.71%     0.25%      0.04%      --      1.00%          --        1.00%  
---------------------------------------------------------------------------------------------------
American Funds Growth                                                                              
 Fund                      0.33%     0.25%      0.02%      --      0.60%          --        0.60%  
---------------------------------------------------------------------------------------------------
American Funds                                                                                     
 Growth-Income Fund        0.27%     0.25%      0.02%      --      0.54%          --        0.54%  
---------------------------------------------------------------------------------------------------
MET INVESTORS SERIES                                                                               
 TRUST -- CLASS A                                                                                  
---------------------------------------------------------------------------------------------------
BlackRock Large Cap                                                                                
 Core Portfolio            0.59%        --      0.05%      --      0.64%       0.01%        0.63%  
---------------------------------------------------------------------------------------------------
Clarion Global Real                                                                                
 Estate Portfolio          0.60%        --      0.06%      --      0.66%          --        0.66%  
---------------------------------------------------------------------------------------------------
ClearBridge Aggressive                                                                             
 Growth Portfolio          0.61%        --      0.03%      --      0.64%          --        0.64%  
---------------------------------------------------------------------------------------------------
Harris Oakmark                                                                                     
 International Portfolio   0.77%        --      0.06%      --      0.83%       0.02%        0.81%  
---------------------------------------------------------------------------------------------------
Invesco Small Cap                                                                                  
 Growth Portfolio          0.85%        --      0.02%      --      0.87%       0.01%        0.86%  
---------------------------------------------------------------------------------------------------
Janus Forty Portfolio      0.63%        --      0.03%      --      0.66%       0.01%        0.65%  
---------------------------------------------------------------------------------------------------
Lord Abbett Bond                                                                                   
 Debenture Portfolio       0.51%        --      0.03%      --      0.54%          --        0.54%  
---------------------------------------------------------------------------------------------------

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---------------------------------------------------------------------------------------------------
                                  DISTRIBUTION                                                     
                                     AND/OR             ACQUIRED   TOTAL                  NET TOTAL
                          MANAGE-   SERVICE               FUND    ANNUAL     FEE WAIVER    ANNUAL  
                           MENT     (12B-1)     OTHER   FEES AND OPERATING AND/OR EXPENSE OPERATING
                            FEE       FEES     EXPENSES EXPENSES EXPENSES  REIMBURSEMENT  EXPENSES 
---------------------------------------------------------------------------------------------------
                                                                                                   
Lord Abbett Mid Cap                                                                                
 Value Portfolio           0.65%       --       0.04%    0.06%     0.75%       0.00%        0.75%  
---------------------------------------------------------------------------------------------------
MetLife Aggressive                                                                                 
 Strategy Portfolio        0.09%       --       0.01%    0.72%     0.82%          --        0.82%  
---------------------------------------------------------------------------------------------------
MFS(R) Research                                                                                    
 International Portfolio   0.68%       --       0.07%       --     0.75%       0.05%        0.70%  
---------------------------------------------------------------------------------------------------
Morgan Stanley Mid Cap                                                                             
 Growth Portfolio          0.65%       --       0.07%       --     0.72%       0.01%        0.71%  
---------------------------------------------------------------------------------------------------
Oppenheimer Global                                                                                 
 Equity Portfolio          0.67%       --       0.09%       --     0.76%       0.02%        0.74%  
---------------------------------------------------------------------------------------------------
PIMCO Inflation                                                                                    
 Protected Bond                                                                                    
 Portfolio                 0.47%       --       0.11%       --     0.58%          --        0.58%  
---------------------------------------------------------------------------------------------------
PIMCO Total Return                                                                                 
 Portfolio                 0.48%       --       0.03%       --     0.51%          --        0.51%  
---------------------------------------------------------------------------------------------------
SSgA Growth and                                                                                    
 Income ETF Portfolio      0.31%       --       0.01%    0.24%     0.56%          --        0.56%  
---------------------------------------------------------------------------------------------------
SSgA Growth ETF                                                                                    
 Portfolio                 0.32%       --       0.03%    0.25%     0.60%          --        0.60%  
---------------------------------------------------------------------------------------------------
T. Rowe Price Mid Cap                                                                              
 Growth Portfolio          0.75%       --       0.03%       --     0.78%          --        0.78%  
---------------------------------------------------------------------------------------------------
METROPOLITAN SERIES                                                                                
 FUND -- CLASS A                                                                                   
---------------------------------------------------------------------------------------------------
Baillie Gifford                                                                                    
 International Stock                                                                               
 Portfolio                 0.81%       --       0.10%       --     0.91%       0.10%        0.81%  
---------------------------------------------------------------------------------------------------
Barclays Aggregate                                                                                 
 Bond Index Portfolio      0.25%       --       0.04%       --     0.29%       0.01%        0.28%  
---------------------------------------------------------------------------------------------------
BlackRock Bond Income                                                                              
 Portfolio                 0.32%       --       0.04%       --     0.36%       0.00%        0.36%  
---------------------------------------------------------------------------------------------------
BlackRock Capital                                                                                  
 Appreciation Portfolio    0.70%       --       0.03%       --     0.73%       0.01%        0.72%  
---------------------------------------------------------------------------------------------------
BlackRock Diversified                                                                              
 Portfolio                 0.46%       --       0.07%       --     0.53%          --        0.53%  
---------------------------------------------------------------------------------------------------
BlackRock Large Cap                                                                                
 Value Portfolio           0.63%       --       0.03%       --     0.66%       0.03%        0.63%  
---------------------------------------------------------------------------------------------------
BlackRock Money                                                                                    
 Market Portfolio          0.33%       --       0.02%       --     0.35%       0.01%        0.34%  
---------------------------------------------------------------------------------------------------
Davis Venture Value                                                                                
 Portfolio                 0.70%       --       0.03%       --     0.73%       0.05%        0.68%  
---------------------------------------------------------------------------------------------------
Frontier Mid Cap                                                                                   
 Growth Portfolio          0.73%       --       0.05%       --     0.78%       0.02%        0.76%  
---------------------------------------------------------------------------------------------------
Jennison Growth                                                                                    
 Portfolio                 0.61%       --       0.03%       --     0.64%       0.07%        0.57%  
---------------------------------------------------------------------------------------------------
Loomis Sayles Small Cap                                                                            
 Core Portfolio            0.90%       --       0.07%    0.10%     1.07%       0.08%        0.99%  
---------------------------------------------------------------------------------------------------
Loomis Sayles Small Cap                                                                            
 Growth Portfolio          0.90%       --       0.06%       --     0.96%       0.09%        0.87%  
---------------------------------------------------------------------------------------------------
Met/Artisan Mid Cap                                                                                
 Value Portfolio           0.81%       --       0.04%       --     0.85%          --        0.85%  
---------------------------------------------------------------------------------------------------
MetLife Conservative                                                                               
 Allocation Portfolio      0.09%       --       0.02%    0.54%     0.65%       0.01%        0.64%  
---------------------------------------------------------------------------------------------------

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                                                        [Enlarge/Download Table]

--------------------------------------------------------------------------------------------------
                                 DISTRIBUTION                                                     
                                    AND/OR             ACQUIRED   TOTAL                  NET TOTAL
                         MANAGE-   SERVICE               FUND    ANNUAL     FEE WAIVER    ANNUAL  
                          MENT     (12B-1)     OTHER   FEES AND OPERATING AND/OR EXPENSE OPERATING
                           FEE       FEES     EXPENSES EXPENSES EXPENSES  REIMBURSEMENT  EXPENSES 
--------------------------------------------------------------------------------------------------
                                                                                                  
MetLife Conservative to                                                                           
 Moderate Allocation                                                                              
 Portfolio                0.07%       --       0.01%    0.58%     0.66%       0.00%        0.66%  
--------------------------------------------------------------------------------------------------
MetLife Mid Cap Stock                                                                             
 Index Portfolio          0.25%       --       0.07%    0.02%     0.34%       0.00%        0.34%  
--------------------------------------------------------------------------------------------------
MetLife Moderate                                                                                  
 Allocation Portfolio     0.06%       --          --    0.63%     0.69%       0.00%        0.69%  
--------------------------------------------------------------------------------------------------
MetLife Moderate to                                                                               
 Aggressive Allocation                                                                            
 Portfolio                0.06%       --       0.01%    0.67%     0.74%       0.00%        0.74%  
--------------------------------------------------------------------------------------------------
MetLife Stock Index                                                                               
 Portfolio                0.25%       --       0.03%       --     0.28%       0.01%        0.27%  
--------------------------------------------------------------------------------------------------
MFS(R) Total Return                                                                               
 Portfolio                0.55%       --       0.05%       --     0.60%          --        0.60%  
--------------------------------------------------------------------------------------------------
MFS(R) Value Portfolio    0.70%       --       0.03%       --     0.73%       0.13%        0.60%  
--------------------------------------------------------------------------------------------------
MSCI EAFE(R) Index                                                                                
 Portfolio                0.30%       --       0.11%    0.01%     0.42%       0.00%        0.42%  
--------------------------------------------------------------------------------------------------
Neuberger Berman                                                                                  
 Genesis Portfolio        0.82%       --       0.04%       --     0.86%       0.01%        0.85%  
--------------------------------------------------------------------------------------------------
Russell 2000(R) Index                                                                             
 Portfolio                0.25%       --       0.08%    0.09%     0.42%       0.00%        0.42%  
--------------------------------------------------------------------------------------------------
T. Rowe Price Large                                                                               
 Cap Growth Portfolio     0.60%       --       0.04%       --     0.64%       0.01%        0.63%  
--------------------------------------------------------------------------------------------------
T. Rowe Price Small Cap                                                                           
 Growth Portfolio         0.49%       --       0.06%       --     0.55%          --        0.55%  
--------------------------------------------------------------------------------------------------
Western Asset                                                                                     
 Management Strategic                                                                             
 Bond Opportunities                                                                               
 Portfolio                0.60%       --       0.05%       --     0.65%       0.04%        0.61%  
--------------------------------------------------------------------------------------------------
Western Asset                                                                                     
 Management U.S.                                                                                  
 Government Portfolio     0.47%       --       0.03%       --     0.50%       0.02%        0.48%  
--------------------------------------------------------------------------------------------------

The information shown in the table above was provided by the Portfolios and we  
have not independently verified that information. Net Total Annual Operating    
Expenses shown in the table reflect any current fee waiver or expense           
reimbursement arrangement that will remain in effect for a period of at least   
one year from the date of the Portfolio's 2013 prospectus. "0.00%" in the Fee   
Waiver and/or Expense Reimbursement column indicates that there is such an      
arrangement in effect for the Portfolio, but that the expenses of the Portfolio 
are below the level that would trigger the waiver or reimbursement. Fee waiver  
and expense reimbursement arrangements with a duration of less than one year,   
or arrangements that may be terminated without the consent of the Portfolio's   
board of directors or trustees, are not shown.                                  

Certain Portfolios that have "Acquired Fund Fees and Expenses" are "funds of    
funds." A fund of funds invests substantially all of its assets in other        
underlying funds. Because the Portfolio invests in other funds, it will bear    
its pro rata portion of the operating expenses of those underlying funds,       
including the management fee.                                                   

We are waiving the following amount of the Mortality and Expense Risk Charge:   
an amount equal to the underlying portfolio expenses that are in excess of      
0.62% for the investment division investing in the Oppenheimer Global Equity    
Portfolio (Class A).                                                            

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THE FEE AND EXPENSE INFORMATION REGARDING THE PORTFOLIOS WAS PROVIDED BY THOSE  
PORTFOLIOS. THE AMERICAN FUNDS INSURANCE SERIES IS NOT AFFILIATED WITH METLIFE. 

INSURANCE PROCEEDS PAYABLE IF THE INSURED DIES                                  

The following is added to this section:                                         

Every state has unclaimed property laws which generally declare life insurance  
policies to be abandoned after a period of inactivity of three to five years    
from the date any death benefit is due and payable. For example, if the payment 
of a death benefit has been triggered, and after a thorough search, we are      
still unable to locate the beneficiary of the death benefit, the death benefit  
will be paid to the abandoned property division or unclaimed property office of 
the state in which the beneficiary or the policy owner last resided, as shown   
on our books and records. ("Escheatment" is the formal, legal name for this     
process.) However, the state is obligated to pay the death benefit (without     
interest) if your beneficiary steps forward to claim it with the proper         
documentation. To prevent your Policy's death benefit from being paid to the    
state's abandoned or unclaimed property office, it is important that you update 
your beneficiary designation--including complete names and complete address--if 
and as they change. You should contact our Designated Office in order to make a 
change to your beneficiary designation. (See "Sending Communications and        
Payments to Us.")                                                               

TRANSFERRING CASH VALUE AMONG YOUR POLICY'S INVESTMENT OPTIONS                  

The minimum amount you may transfer is $50 or, if less, the total amount in an  
investment option. We do not currently charge for transfers, but we do reserve  
the right to charge up to $25 per transfer, except for transfers under the      
Automated Investment Strategies. Currently, transfers are not taxable           
transactions.                                                                   

RESTRICTIONS ON FREQUENT TRANSFERS.  Frequent requests from Policy owners to    
transfer cash value may dilute the value of a Portfolio's shares if the         
frequent trading involves an attempt to take advantage of pricing               
inefficiencies created by a lag between a change in the value of the securities 
held by the Portfolio and the reflection of that change in the Portfolio's      
share price ("arbitrage trading"). Frequent transfers involving arbitrage       
trading may adversely affect the long-term performance of the Portfolios, which 
may in turn adversely affect Policy owners and other persons who may have an    
interest in the Policies (e.g. beneficiaries).                                  

We have policies and procedures that attempt to detect and deter frequent       
transfers in situations where we determine there is a potential for arbitrage   
trading. Currently, we believe that such situations may be presented in the     
international, small-cap, and high-yield Portfolios (i.e. American Funds Global 
Small Capitalization Fund, Baillie Gifford International Stock Portfolio,       
Clarion Global Real Estate Portfolio, Harris Oakmark International Portfolio,   
Invesco Small Cap Growth Portfolio, Loomis Sayles Small Cap Core Portfolio,     
Loomis Sayles Small Cap Growth Portfolio, Lord Abbett Bond Debenture Portfolio, 
MFS(R) Research International Portfolio, MSCI EAFE(R) Index Portfolio,          
Neuberger Berman Genesis Portfolio, Oppenheimer Global Equity Portfolio,        
Russell 2000(R) Index Portfolio, T. Rowe Price Small Cap Growth Portfolio and   
Western Asset Management Strategic Bond Opportunities Portfolio) and we monitor 
transfer activity in those Portfolios (the "Monitored Portfolios"). In          
addition, as described below, we intend to treat all American Funds Insurance   
Series portfolios ("American Funds Portfolios") as Monitored Portfolios. We     
employ various means to monitor transfer activity, such as examining the        
frequency and size of transfers into and out of the Monitored Portfolios within 
given periods of time. For example, we currently monitor transfer activity to   
determine if, for each category of international, small-cap, and high-yield     
Portfolios, in a 12-month period there were: (1) six or more transfers          
involving the given category; (2) cumulative gross transfers involving the      
given category that exceed the current cash value; and (3) two or more          
"round-trips'' involving any Portfolio in the given category. A round-trip      
generally is defined as a                                                       

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transfer in followed by a transfer out within the next seven calendar days or a 
transfer out followed by a transfer in within the next seven calendar days, in  
either case subject to certain other criteria. WE DO NOT BELIEVE THAT OTHER     
PORTFOLIOS PRESENT A SIGNIFICANT OPPORTUNITY TO ENGAGE IN ARBITRAGE TRADING AND 
THEREFORE DO NOT MONITOR TRANSFER ACTIVITY IN THOSE PORTFOLIOS. We may change   
the Monitored Portfolios at any time without notice in our sole discretion.     

As a condition to making their portfolios available in our products, American   
Funds requires us to treat all American Funds portfolios as Monitored           
Portfolios under our current frequent transfer policies and procedures.         
Further, American Funds requires us to impose additional specified monitoring   
criteria for all American Funds portfolios available under the Policy,          
regardless of the potential for arbitrage trading. We are required to monitor   
transfer activity in American Funds portfolios to determine if there were two   
or more transfers in followed by transfers out, in each case of a certain       
dollar amount or greater, in any 30-day period. A first violation of the        
American Funds monitoring policy will result in a written notice of violation;  
each additional violation will result in the imposition of a six-month          
restriction, during which period we will require all transfer requests to or    
from an American Funds portfolio to be submitted with an original signature.    
Further, as Monitored Portfolios, all American Funds portfolios also will be    
subject to our current frequent transfer policies, procedures and restrictions  
(described below), and transfer restrictions may be imposed upon a violation of 
either monitoring policy.                                                       

Our policies and procedures may result in transfer restrictions being applied   
to deter frequent transfers. Currently, when we detect transfer activity in the 
Monitored Portfolios that exceeds our current transfer limits, we require       
future transfer requests to or from a Monitored Portfolio under that Policy to  
be submitted either (i) in writing with an original signature or (ii) by        
telephone prior to 10:00 a.m. A first occurrence will result in the imposition  
of this restriction for a six-month period; a second occurrence will result in  
the permanent imposition of the restriction. Transfers made under an Automated  
Investment Strategy described in this prospectus are not treated as transfers   
when we monitor the frequency of transfers.                                     

The detection and deterrence of harmful transfer activity involves judgments    
that are inherently subjective, such as the decision to monitor only those      
Portfolios that we believe are susceptible to arbitrage trading or the          
determination of the transfer limits. Our ability to detect and/or restrict     
such transfer activity may be limited by operational and technological systems, 
as well as our ability to predict strategies employed by Policy owners to avoid 
such detection. Our ability to restrict such transfer activity also may be      
limited by provisions of the Policy. Accordingly, there is no assurance that we 
will prevent all transfer activity that may adversely affect Policy owners and  
other persons with interests in the Policies. We do not accommodate frequent    
transfers in any Portfolio and there are no arrangements in place to permit any 
Policy owner to engage in frequent transfers; we apply our policies and         
procedures without exception, waiver, or special arrangement.                   

The Portfolios may have adopted their own policies and procedures with respect  
to frequent transfers in their respective shares, and we reserve the right to   
enforce these policies and procedures. For example, the Portfolios may assess a 
redemption fee (which we reserve the right to collect) on shares held for a     
relatively short period. The prospectuses for the Portfolios describe any such  
policies and procedures, which may be more or less restrictive than the         
policies and procedures we have adopted. Although we may not have the           
contractual authority or the operational capacity to apply the frequent         
transfer policies and procedures of the Portfolios, we have entered into a      
written agreement, as required by SEC regulation, with each Portfolio or its    
principal underwriter that obligates us to provide to the Portfolio promptly    
upon request certain information about the trading activity of individual       
Policy owners, and to execute instructions from the Portfolio to restrict or    
prohibit further purchases or transfers by specific Policy owners who violate   
the frequent transfer policies established by the Portfolio.                    

In addition, Policy owners and other persons with interests in the Policies     
should be aware that the purchase and redemption orders received by the         
Portfolio generally are "omnibus" orders from intermediaries such as retirement 
plans or separate accounts funding variable insurance contracts.                

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The omnibus orders reflect the aggregation and netting of multiple orders from  
individual owners of variable insurance contracts and/or individual retirement  
plan participants. The omnibus nature of these orders may limit the Portfolios  
in their ability to apply their frequent transfer policies and procedures. In   
addition, the other insurance companies and/or retirement plans may have        
different policies and procedures or may not have any such policies and         
procedures because of contractual limitations. For these reasons, we cannot     
guarantee that the Portfolios (and thus Policy owners) will not be harmed by    
transfer activity relating to other insurance companies and/or retirement plans 
that may invest in the Portfolios. If a Portfolio believes that an omnibus      
order reflects one or more transfer requests from Policy owners engaged in      
frequent trading, the Portfolio may reject the entire omnibus order.            

In accordance with applicable law, we reserve the right to modify or terminate  
the transfer privilege at any time. We also reserve the right to defer or       
restrict the transfer privilege at any time that we are unable to purchase or   
redeem shares of any of the Portfolios, including any refusal or restriction on 
purchases or redemptions of their shares as a result of their own policies and  
procedures on frequent transfers (even if an entire omnibus order is rejected   
due to the frequent transfers of a single Policy owner). You should read the    
Portfolio prospectuses for more details.                                        

RESTRICTIONS ON LARGE TRANSFERS.  Large transfers may increase brokerage and    
administrative costs of the underlying Portfolios and may disrupt portfolio     
management strategy, requiring a Portfolio to maintain a high cash position and 
possibly resulting in lost investment opportunities and forced liquidations. We 
do not monitor for large transfers to or from Portfolios except where the       
manager of a particular underlying Portfolio has brought large transfer         
activity to our attention for investigation on a case-by-case basis. For        
example, some portfolio managers have asked us to monitor for "block transfers" 
where transfer requests have been submitted on behalf of multiple owners by a   
third party such as an investment adviser. When we detect such large trades, we 
may impose restrictions similar to those described above where future transfer  
requests from that third party must be submitted either (i) in writing with an  
original signature or (ii) by telephone prior to 10:00 a.m. A first occurrence  
will result in the imposition of this restriction for a six-month period; a     
second occurrence will result in the permanent imposition of the restriction.   

OTHER INFORMATION                                                               

The Financial Industry Regulatory Authority (FINRA) provides background         
information about broker-dealers and their registered representatives through   
FINRA BrokerCheck. You may contact the FINRA BrokerCheck Hotline at             
1-800-289-9999, or log on to www.finra.org. An investor brochure that includes  
information describing FINRA BrokerCheck is available through the Hotline or    
on-line.                                                                        

FEDERAL TAX MATTERS                                                             

The following is a brief summary of some tax rules that may apply to your       
Policy. It does not purport to be complete or cover every situation. The        
summary does not address state, local or foreign tax issues related to your     
Policy. Because individual circumstances vary, you should consult with your own 
tax advisor to find out how taxes can affect your benefits and rights under     
your Policy, especially before you make unscheduled premium payments, change    
your specified face amount, change your death benefit option, change coverage   
provided by riders, take a loan or withdrawal, or assign or surrender the       
Policy. Under current federal income tax law, the taxable portion of            
distributions from variable life contracts is taxed at ordinary income tax      
rates and does not qualify for the reduced tax rate applicable to long-term     
capital gains and dividends.                                                    

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IRS CIRCULAR 230 NOTICE:  The tax information contained in this Prospectus is   
not intended to (and cannot) be used by anyone to avoid IRS penalties. It is    
intended to support the sale of the Policy. The Policyholder should seek tax    
advice based on its particular circumstances from an independent tax advisor.   

INSURANCE PROCEEDS                                                              

.. Generally excludable from your beneficiary's gross income to the extent      
provided in Section 101 of the Internal Revenue Code ("Code").              

In the case of employer-owned life insurance as defined in Section 101(j) of
 the Code, the amount excludable from gross income is limited to premiums paid
unless the policy falls within certain specified exceptions and a notice and
consent requirement is satisfied before the policy is issued. Certain       
specified exceptions are based on the status of an employee as highly       
compensated or recently employed. There are also exceptions for policy      
proceeds paid to an employee's heirs. These exceptions only apply if proper 
notice is given to the insured employee and consent is received from the    
insured employee before the issuance of the policy. These rules apply to    
policies issued August 18, 2006 and later and also apply to policies issued 
before August 18, 2006 after a material increase in the death benefit or    
 other material change. An IRS reporting requirement applies to employer-owned
life insurance subject to these rules. Because these rules are complex and  
will affect the tax treatment of Death Benefits, it is advisable to consult 
tax counsel.                                                                

Insurance death proceeds will also be taxable in the case of a              
transfer-for-value unless certain exceptions apply.                         

.. The proceeds may be subject to federal estate tax: (i) if paid to the        
insured's estate; or (ii) if paid to a different beneficiary if the insured 
possessed incidents of ownership at or within three years before death.     

.. If you die before the insured, the value of your Policy (determined under IRS
rules) is included in your estate and may be subject to federal estate tax. 

.. Whether or not any federal estate tax is due is based on a number of factors,
including the estate size.                                                  

.. The insurance proceeds payable upon death of the insured will never be less  
than the minimum amount required for the Policy to be treated as life       
insurance under section 7702 of the Internal Revenue Code, as in effect on  
the date the Policy was issued. The rules under section 7702 of the Internal
Revenue Code with respect to Policies issued on a substandard risk basis are
not entirely clear.                                                         

CASH VALUE (IF YOUR POLICY IS NOT A MODIFIED ENDOWMENT CONTRACT)                

You are generally not taxed on your cash value until you withdraw it, surrender 
your Policy or receive a distribution such as on the Final Date. In these       
cases, you are generally permitted to take withdrawals and receive other        
distributions up to the amount of premiums paid without any tax consequences.   
However, withdrawals and other distributions will be subject to income tax      
after you have received amounts equal to the total premiums you paid. Somewhat  
different rules apply in the first 15 Policy years, when a distribution may be  
subject to tax if there is a gain in your Policy (which is generally when your  
cash value exceeds the cumulative premiums you paid).                           

There may be an indirect tax upon the income in the Policy or the proceeds of a 
Policy under the Federal corporate alternative minimum tax, if you are subject  
to that tax.                                                                    

SPLIT-DOLLAR INSURANCE PLANS                                                    

The IRS has issued guidance on split dollar insurance plans. A tax advisor      
should be consulted with respect to this guidance if you have purchased or are  
considering the purchase of a Policy for a split dollar insurance plan. If your 
split dollar plan provides deferred compensation, recently enacted rules        
governing deferred compensation arrangement may apply. Failure to adhere to     
these rules will result in adverse tax consequences. Consult a tax adviser.     

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The Sarbanes-Oxley Act of 2002 (the "Act"), which was signed into law on July   
30, 2002, prohibits, with limited exceptions, publicly-traded companies,        
including non-U.S. companies that have securities listed on U.S. exchanges,     
from extending, directly or indirectly or through a subsidiary, many types of   
personal loans to their directors or executive officers. It is possible that    
this prohibition may be interpreted to apply to certain split-dollar life       
insurance arrangements for directors and executive officers of such companies,  
since at least some such arrangements can arguably be viewed as involving a     
loan from the employer for at least some purposes.                              

Any affected business contemplating the payment of a premium on an existing     
Policy or the purchase of a new Policy in connection with a split-dollar life   
insurance arrangement should consult legal counsel.                             

LOANS                                                                           

.. Loan amounts you receive will generally not be subject to income tax, unless 
your Policy is or becomes a modified endowment contract, is exchanged or    
terminates.                                                                 

.. Interest on loans is generally not deductible. For businesses that own a     
Policy, at least part of the interest deduction unrelated to the Policy may 
be disallowed unless the insured is a 20% owner, officer, director or       
employee of the business.                                                   

.. If your Policy terminates (upon surrender, cancellation lapse, the Final Date
 or, in most cases, exchange) while any Policy loan is outstanding, the amount
of the loan plus accrued interest thereon will be deemed to be a            
"distribution" to you. Any such distribution will have the same tax         
consequences as any other Policy distribution. In the case of an outstanding
loan at the time of an exchange, the cancelled loan will generally be taxed 
to the extent of any policy gain. Since amounts borrowed reduce the cash    
 value that will be distributed to you if the Policy is surrendered, cancelled
or lapses, any cash value distributed to you in these circumstances may be  
insufficient to pay the income tax on any gain.                             

.. The tax consequences of loans outstanding after the 15th Policy year are     
uncertain.                                                                  

MODIFIED ENDOWMENT CONTRACTS                                                    

These contracts are life insurance policies where the premiums paid during the  
first 7 years after the Policy is issued, or after a material change in the     
Policy exceeds tax law limits referred to as the "7-pay test." Material changes 
in the Policy, include changes in the level of benefits and certain other       
changes to your Policy after the issue date. Reductions in benefits during a    
7-pay period may cause your Policy to become a modified endowment contract.     
Generally, a life insurance policy that is received in exchange for a modified  
endowment contract will also be considered a modified endowment contract. The   
IRS has promulgated a procedure for the correction of inadvertent modified      
endowment contracts.                                                            

Due to the flexibility of the Policies as to premiums and benefits, the         
individual circumstances of each Policy will determine whether it is classified 
as a MEC.                                                                       

If your Policy is considered a modified endowment contract:                     

.. The death benefit will still generally be income tax free to your            
beneficiary, as discussed above.                                            

.. Amounts withdrawn or distributed before the insured's death, including       
(without limitation) loans, assignments and pledges, are (to the extent of  
any gains on your policy) treated as income first and subject to income tax.
All modified endowment contracts you purchase from us and our affiliates    
during the same calendar year are treated as a single contract for purposes 
of determining the amount of any such income.                               

.. You will generally owe an additional 10% tax penalty on the taxable portion  
of the amounts you received before age 59 1/2, except generally if you are  
disabled or the distribution is part of a series of substantially equal     
periodic payments.                                                          

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.. If a Policy becomes a modified endowment contract, distributions that occur  
during the Policy year will be taxed as distributions from a modified       
 endowment contract. In addition, distributions from a Policy within two years
 before it becomes a modified endowment contract will be taxed in this manner.
This means that a distribution made from a Policy that is not a modified    
endowment contract could later become taxable as a distribution from a      
modified endowment contract.                                                

DIVERSIFICATION                                                                 

In order for your Policy to qualify as life insurance, we must comply with      
certain diversification standards with respect to the investments underlying    
the Policy. We believe that we satisfy and will continue to satisfy these       
diversification standards. Inadvertent failure to meet these standards may be   
able to be corrected. Failure to meet these standards would result in immediate 
taxation to Policy owners of gains under their Policies. In addition, if        
Portfolio shares are sold directly to tax-qualified retirement plans that later 
lose their tax-qualified status or to non-qualified plans, there could be       
adverse consequences under the diversification rules.                           

INVESTOR CONTROL                                                                

In some circumstances, owners of variable contracts who retain excessive        
control over the investment of the underlying Separate Account assets may be    
treated as the owners of those assets and may be subject to tax on income       
produced by those assets. Although published guidance in this area does not     
address certain aspects of the Policies, we believe that the owner of a Policy  
should not be treated as an owner of the assets in our Separate Account. We     
reserve the right to modify the policies to bring them into conformity with     
applicable standards should such modification be necessary to prevent owners of 
the policies from being treated as the owners of the underlying Separate        
Account assets.                                                                 

ESTATE, GIFT AND GENERATION-SKIPPING TRANSFER TAXES                             

The transfer of the Policy or the designation of a beneficiary may have         
Federal, state, and/or local transfer and inheritance tax consequences,         
including the imposition of gift, estate, and generation-skipping transfer      
taxes. When the insured dies, the death proceeds will generally be includable   
in the Policy Owner's estate for purposes of the Federal estate tax if the      
Policy Owner was the insured, if the insured possessed incidents of ownership   
in the Policy at the time of death, or the insured made a gift transfer of the  
Policy within three years of death. If the Policy Owner was not the insured,    
the fair market value of the Policy would be included in the Policy Owner's     
estate upon the Policy Owner's death. Moreover, under certain circumstances,    
the Internal Revenue Code may impose a "generation-skipping transfer tax" when  
all or part of a life insurance policy is transferred to, or a death benefit is 
paid to, an individual two or more generations younger than the Policy Owner.   
Regulations issued under the Internal Revenue Code may require us to deduct the 
tax from your Policy, or from any applicable payment, and pay it directly to    
the IRS.                                                                        

Qualified tax advisers should be consulted concerning the estate and gift tax   
consequences of Policy ownership and distributions under Federal, state and     
local law. The individual situation of each Policy Owner or beneficiary will    
determine the extent, if any, to which Federal, state, and local transfer and   
inheritance taxes may be imposed and how ownership or receipt of Policy         
proceeds will be treated for purposes of Federal, state and local estate,       
inheritance, generation-skipping and other taxes.                               

In general, current rules provide for a $5 million estate, gift and             
generation-skipping transfer tax exemption (as indexed for inflation) and a top 
tax rate of 40 percent.                                                         

The complexity of the tax law, along with uncertainty as to how it might be     
modified in coming years, underscores the importance of seeking guidance from a 
qualified adviser to help ensure that your estate plan adequately addresses     
your needs and those of your beneficiaries under all possible scenarios         

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WITHHOLDING                                                                     

To the extent that Policy distributions are taxable, they are generally subject 
to withholding for the recipient's federal income tax liability. Recipients can 
generally elect however, not to have tax withheld from distributions.           

LIFE INSURANCE PURCHASES BY RESIDENTS OF PUERTO RICO                            

In Rev. Rul. 2004-75, 2004-31 I.R.B. 109, the Internal Revenue Service          
announced that income received by residents of Puerto Rico under life insurance 
contracts issued by a Puerto Rico branch of a United States life insurance      
company is U.S.-source income that is generally subject to United States        
Federal income tax.                                                             

LIFE INSURANCE PURCHASES BY NONRESIDENT ALIENS AND FOREIGN CORPORATIONS         

Purchasers that are not U.S. citizens or residents will generally be subject to 
U.S. federal withholding tax on taxable distributions from life insurance       
policies at a 30% rate, unless a lower treaty rate applies. In addition,        
purchasers may be subject to state and/or municipal taxes and taxes that may be 
imposed by the purchaser's country of citizenship or residence. Prospective     
purchasers are advised to consult with a qualified tax adviser regarding        
taxation with respect to a life insurance Policy purchase.                      

BUSINESS USES OF POLICY                                                         

Businesses can use the policies in various arrangements, including nonqualified 
deferred compensation or salary continuance plans, split dollar insurance       
plans, executive bonus plans, tax exempt and nonexempt welfare benefit plans,   
retiree medical benefit plans and others. The tax consequences of such plans    
may vary depending on the particular facts and circumstances. As noted, in the  
case of a business owned Policy, the provisions of Section 101(j) of the Code   
may limit the amount of the Death Benefit excludable from gross income unless a 
specified exception applies and a notice and consent requirement is satisfied,  
as discussed above. If you are purchasing the Policy for any arrangement the    
value of which depends in part on its tax consequences, you should consult a    
qualified tax adviser.                                                          

CHANGES TO TAX RULES AND INTERPRETATIONS                                        

Changes in applicable tax laws, rules and interpretations can adversely affect  
the tax treatment of your Policy. These changes may take effect retroactively.  
We reserve the right to amend the Policy in any way necessary to avoid any      
adverse tax treatment. Examples of changes that could create adverse tax        
consequences include:                                                           

. Possible taxation of cash value transfers.                              

. Possible taxation as if you were the owner of your allocable portion of 
the Separate Account's assets.                                        

. Possible limits on the number of investment funds available or the      
frequency of transfers among them.                                    

. Possible changes in the tax treatment of Policy benefits and rights.    

TAX CREDITS AND DEDUCTIONS                                                      

The Company may be entitled to certain tax benefits related to the assets of    
the Separate Account. These tax benefits, which may include foreign tax credits 
and corporate dividend received deductions, are not passed back to the Separate 
Account or to Policy owners since the Company is the owner of the assets from   
which the tax benefits are derived.                                             

THE COMPANY'S INCOME TAXES                                                      

Under current Federal income tax law we are not taxed on the Separate Account's 
operations. Thus, currently we do not deduct a charge from the Separate Account 
for company Federal income taxes. (We do deduct a charge for Federal taxes from 
premiums.) We reserve the right to charge the                                   

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Separate Account for any future Federal income taxes we may incur. Under        
current laws we may incur state and local taxes (in addition to premium taxes). 
These taxes are not now significant and we are not currently charging for them. 
If they increase, we may deduct charges for such taxes.                         

INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM                                   

The financial statements and financial highlights comprising each of the        
Investment Divisions of Metropolitan Life Separate Account UL (the "Separate    
Account") included in this Prospectus Supplement, have been audited by          
Deloitte & Touche LLP, an independent registered public accounting firm, as     
stated in their report appearing herein (which report expresses an unqualified  
opinion on the financial statements and financial highlights and includes an    
explanatory paragraph referring to changes in the Separate Account's method of  
accounting for certain mortality and expense risk charges assessed through a    
redemption of units). Such financial statements and financial highlights are    
included in reliance upon the report of such firm given upon their authority as 
experts in accounting and auditing.                                             

The principal business address of Deloitte & Touche LLP is Two World Financial  
Center, New York, New York 10281-1414.                                          

FINANCIAL STATEMENTS                                                            

The financial statements comprising each of the Investment Divisions of the     
Separate Account are attached to this Supplement. You can find the financial    
statements of MetLife in the Statement of Additional Information. You may view  
the Statement of Additional Information by logging on to our website at         
www.metlife.com or you may obtain a copy of the Statement of Additional         
Information, without charge, by calling 800-MET-5000. Our financial statements  
should be considered only as bearing upon our ability to meet our obligations   
under the Policy.                                                               

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM                         

To the Policy Owners of                                                         
Metropolitan Life Separate Account UL                                           
and Board of Directors of                                                       
Metropolitan Life Insurance Company                                             

We have audited the accompanying statements of assets and liabilities of        
Metropolitan Life Separate Account UL (the "Separate Account") of Metropolitan  
Life Insurance Company (the "Company") comprising each of the individual        
Investment Divisions listed in Note 2.A. as of December 31, 2012, the related   
statements of operations and changes in net assets for the respective stated    
periods in the three years then ended, and the financial highlights in Note 9   
for the respective stated periods in the five years then ended. These financial 
statements and financial highlights are the responsibility of the Separate      
Account's management. Our responsibility is to express an opinion on these      
financial statements and financial highlights based on our audits.              

We conducted our audits in accordance with the standards of the Public Company  
Accounting Oversight Board (United States). Those standards require that we     
plan and perform the audit to obtain reasonable assurance about whether the     
financial statements and financial highlights are free of material              
misstatement. The Separate Account is not required to have, nor were we engaged 
to perform, an audit of its internal control over financial reporting. Our      
audits included consideration of internal control over financial reporting as a 
basis for designing audit procedures that are appropriate in the circumstances, 
but not for the purpose of expressing an opinion on the effectiveness of the    
Separate Account's internal control over financial reporting. Accordingly, we   
express no such opinion. An audit also includes examining, on a test basis,     
evidence supporting the amounts and disclosures in the financial statements,    
assessing the accounting principles used and significant estimates made by      
management, as well as evaluating the overall financial statement presentation. 
Our procedures included confirmation of investments owned as of December 31,    
2012, by correspondence with the custodian or mutual fund companies. We believe 
that our audits provide a reasonable basis for our opinion.                     

In our opinion, the financial statements and financial highlights referred to   
above present fairly, in all material respects, the financial position of each  
of the Investment Divisions constituting the Separate Account of the Company as 
of December 31, 2012, the results of their operations and changes in their net  
assets for the respective stated periods in the three years then ended, and the 
financial highlights for the respective stated periods in the five years then   
ended, in conformity with accounting principles generally accepted in the       
United States of America.                                                       

As discussed in Note 5 to the financial statements, the Investment Divisions    
constituting the Separate Account of the Company elected to change their        
accounting method for certain mortality and expense risk charges which are      
assessed through the redemption of units, and have applied this change          
retrospectively to all periods presented.                                       

/s/ DELOITTE & TOUCHE LLP                                                       
Certified Public Accountants                                                    

Tampa, Florida                                                                  
March 28, 2013                                                                  

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF ASSETS AND LIABILITIES    
DECEMBER 31, 2012   

                                                        [Enlarge/Download Table]

                                          ALLIANCEBERNSTEIN                                                                
                                               GLOBAL          ALLIANCEBERNSTEIN    ALLIANCEBERNSTEIN        AMERICAN      
                                           THEMATIC GROWTH     INTERMEDIATE BOND   INTERNATIONAL VALUE   CENTURY VP VISTA  
                                         INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION
                                         -------------------  -------------------  -------------------  -------------------
                                                                                                                           
ASSETS:                                                                                                                    
   Investments at fair value............ $           61,855   $          103,300   $              156   $            4,105 
   Due from Metropolitan Life                                                                                              
     Insurance Company..................                  1                   --                   --                   -- 
                                         -------------------  -------------------  -------------------  -------------------
       Total Assets.....................             61,856              103,300                  156                4,105 
                                         -------------------  -------------------  -------------------  -------------------
LIABILITIES:                                                                                                               
   Due to Metropolitan Life                                                                                                
     Insurance Company..................                 --                   --                   --                   -- 
                                         -------------------  -------------------  -------------------  -------------------
       Total Liabilities................                 --                   --                   --                   -- 
                                         -------------------  -------------------  -------------------  -------------------

NET ASSETS.............................. $           61,856   $          103,300   $              156   $            4,105 
                                         ===================  ===================  ===================  ===================

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)   
DECEMBER 31, 2012   

                                                        [Enlarge/Download Table]

                                                                 AMERICAN FUNDS                                             
                                            AMERICAN FUNDS        GLOBAL SMALL        AMERICAN FUNDS       AMERICAN FUNDS   
                                                 BOND            CAPITALIZATION           GROWTH            GROWTH-INCOME   
                                          INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION
                                          -------------------  -------------------  -------------------  -------------------
                                                                                                                            
ASSETS:                                                                                                                     
   Investments at fair value............. $        5,420,310   $       59,237,807   $      130,921,222   $       79,614,718 
   Due from Metropolitan Life                                                                                               
     Insurance Company...................                 --                   --                   --                   -- 
                                          -------------------  -------------------  -------------------  -------------------
       Total Assets......................          5,420,310           59,237,807          130,921,222           79,614,718 
                                          -------------------  -------------------  -------------------  -------------------
LIABILITIES:                                                                                                                
   Due to Metropolitan Life                                                                                                 
     Insurance Company...................                 --                    1                   --                    1 
                                          -------------------  -------------------  -------------------  -------------------
       Total Liabilities.................                 --                    1                   --                    1 
                                          -------------------  -------------------  -------------------  -------------------

NET ASSETS............................... $        5,420,310   $       59,237,806   $      130,921,222   $       79,614,717 
                                          ===================  ===================  ===================  ===================


                                                                                    AMERICAN FUNDS U.S.                     
                                            AMERICAN FUNDS       AMERICAN FUNDS       GOVERNMENT/AAA-        DREYFUS VIF    
                                           HIGH-INCOME BOND       INTERNATIONAL      RATED SECURITIES    INTERNATIONAL VALUE
                                          INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION
                                          -------------------  -------------------  -------------------  -------------------
                                                                                                                            
ASSETS:                                                                                                                     
   Investments at fair value............. $           57,231   $          552,054   $           45,192   $           205,134
   Due from Metropolitan Life                                                                                               
     Insurance Company...................                 --                   --                   --                    --
                                          -------------------  -------------------  -------------------  -------------------
       Total Assets......................             57,231              552,054               45,192               205,134
                                          -------------------  -------------------  -------------------  -------------------
LIABILITIES:                                                                                                                
   Due to Metropolitan Life                                                                                                 
     Insurance Company...................                 --                    1                   --                     1
                                          -------------------  -------------------  -------------------  -------------------
       Total Liabilities.................                 --                    1                   --                     1
                                          -------------------  -------------------  -------------------  -------------------

NET ASSETS............................... $           57,231   $          552,053   $           45,192   $           205,133
                                          ===================  ===================  ===================  ===================



                                           FIDELITY VIP ASSET      FIDELITY VIP                                             
                                             MANAGER: GROWTH        CONTRAFUND                                              
                                           INVESTMENT DIVISION  INVESTMENT DIVISION                                         
                                          --------------------  -------------------                                         
                                                                                                                            
ASSETS:                                                                                                                     
   Investments at fair value............. $         1,966,232   $        2,343,024                                          
   Due from Metropolitan Life                                                                                               
     Insurance Company...................                  --                   --                                          
                                          --------------------  -------------------                                         
       Total Assets......................           1,966,232            2,343,024                                          
                                          --------------------  -------------------                                         
LIABILITIES:                                                                                                                
   Due to Metropolitan Life                                                                                                 
     Insurance Company...................                  --                    2                                          
                                          --------------------  -------------------                                         
       Total Liabilities.................                  --                    2                                          
                                          --------------------  -------------------                                         

NET ASSETS............................... $         1,966,232   $        2,343,022                                          
                                          ====================  ===================                                         

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)   
DECEMBER 31, 2012   

                                                        [Enlarge/Download Table]


                                             FIDELITY VIP        FIDELITY VIP         FIDELITY VIP         FIDELITY VIP     
                                             EQUITY-INCOME       FREEDOM 2010         FREEDOM 2020         FREEDOM 2030     
                                          INVESTMENT DIVISION INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION 
                                         -------------------- -------------------  -------------------  ------------------- 
                                                                                                                            
ASSETS:                                                                                                                     
   Investments at fair value............ $           62,291   $           39,638   $          764,725   $           42,834  
   Due from Metropolitan Life                                                                                               
     Insurance Company..................                 --                   --                   --                   --  
                                         -------------------- -------------------  -------------------  ------------------- 
       Total Assets.....................             62,291               39,638              764,725               42,834  
                                         -------------------- -------------------  -------------------  ------------------- 
LIABILITIES:                                                                                                                
   Due to Metropolitan Life                                                                                                 
     Insurance Company..................                 --                   --                    1                   --  
                                         -------------------- -------------------  -------------------  ------------------- 
       Total Liabilities................                 --                   --                    1                   --  
                                         -------------------- -------------------  -------------------  ------------------- 

NET ASSETS.............................. $           62,291   $           39,638   $          764,724   $           42,834  
                                         ==================== ===================  ===================  =================== 


                                                                                      FIDELITY VIP                          
                                            FIDELITY VIP         FIDELITY VIP          INVESTMENT                           
                                            FREEDOM 2050          HIGH INCOME          GRADE BOND      FIDELITY VIP  MID CAP
                                         INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION 
                                         -------------------  -------------------  ------------------- ---------------------
                                                                                                                            
ASSETS:                                                                                                                     
   Investments at fair value............ $           17,855   $          165,146   $        2,285,792   $          748,919  
   Due from Metropolitan Life                                                                                               
     Insurance Company..................                 --                   --                   --                   --  
                                         -------------------  -------------------  ------------------- ---------------------
       Total Assets.....................             17,855              165,146            2,285,792              748,919  
                                         -------------------  -------------------  ------------------- ---------------------
LIABILITIES:                                                                                                                
   Due to Metropolitan Life                                                                                                 
     Insurance Company..................                 56                   --                   --                   --  
                                         -------------------  -------------------  ------------------- ---------------------
       Total Liabilities................                 56                   --                   --                   --  
                                         -------------------  -------------------  ------------------- ---------------------

NET ASSETS.............................. $           17,799   $          165,146   $        2,285,792   $          748,919  
                                         ===================  ===================  =================== =====================


                                                FTVIPT                                                                      
                                             MUTUAL GLOBAL     FTVIPT TEMPLETON                                             
                                         DISCOVERY SECURITIES FOREIGN SECURITIES                                            
                                          INVESTMENT DIVISION INVESTMENT DIVISION                                           
                                         -------------------- -------------------                                           
                                                                                                                            
ASSETS:                                                                                                                     
   Investments at fair value............  $          803,177  $        3,962,470                                            
   Due from Metropolitan Life                                                                                               
     Insurance Company..................                  --                  --                                            
                                         -------------------- -------------------                                           
       Total Assets.....................             803,177           3,962,470                                            
                                         -------------------- -------------------                                           
LIABILITIES:                                                                                                                
   Due to Metropolitan Life                                                                                                 
     Insurance Company..................                   1                  --                                            
                                         -------------------- -------------------                                           
       Total Liabilities................                   1                  --                                            
                                         -------------------- -------------------                                           

NET ASSETS..............................  $          803,176  $        3,962,470                                            
                                         ==================== ===================                                           

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)   
DECEMBER 31, 2012   

                                                        [Enlarge/Download Table]

                                               FTVIPT                                GOLDMAN SACHS                        
                                          TEMPLETON GLOBAL      GOLDMAN SACHS         STRUCTURED          INVESCO V.I.    
                                           BOND SECURITIES      MID-CAP VALUE      SMALL CAP EQUITY    GLOBAL REAL ESTATE 
                                         INVESTMENT DIVISION INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION
                                         ------------------- -------------------  -------------------  -------------------
                                                                                                                          
ASSETS:                                                                                                                   
   Investments at fair value............ $          442,101  $          258,154   $           26,317   $       2,614,724  
   Due from Metropolitan Life                                                                                             
     Insurance Company..................                 --                  --                   --                  12  
                                         ------------------- -------------------  -------------------  -------------------
       Total Assets.....................            442,101             258,154               26,317           2,614,736  
                                         ------------------- -------------------  -------------------  -------------------
LIABILITIES:                                                                                                              
   Due to Metropolitan Life                                                                                               
     Insurance Company..................                 --                  --                   --                  --  
                                         ------------------- -------------------  -------------------  -------------------
       Total Liabilities................                 --                  --                   --                  --  
                                         ------------------- -------------------  -------------------  -------------------

NET ASSETS.............................. $          442,101  $          258,154   $           26,317   $       2,614,736  
                                         =================== ===================  ===================  ===================


                                            INVESCO V.I.                             INVESCO V.I.                         
                                             GOVERNMENT          INVESCO V.I.         VAN KAMPEN           JANUS ASPEN    
                                             SECURITIES      INTERNATIONAL GROWTH      COMSTOCK             BALANCED      
                                         INVESTMENT DIVISION  INVESTMENT DIVISION INVESTMENT DIVISION  INVESTMENT DIVISION
                                         ------------------- -------------------- -------------------  -------------------
                                                                                                                          
ASSETS:                                                                                                                   
   Investments at fair value............ $              311    $       6,506,156  $          237,306   $        1,100,550 
   Due from Metropolitan Life                                                                                             
     Insurance Company..................                 --                   --                  --                   -- 
                                         ------------------- -------------------- -------------------  -------------------
       Total Assets.....................                311            6,506,156             237,306            1,100,550 
                                         ------------------- -------------------- -------------------  -------------------
LIABILITIES:                                                                                                              
   Due to Metropolitan Life                                                                                               
     Insurance Company..................                 --                    4                  --                    1 
                                         ------------------- -------------------- -------------------  -------------------
       Total Liabilities................                 --                    4                  --                    1 
                                         ------------------- -------------------- -------------------  -------------------

NET ASSETS.............................. $              311    $       6,506,152  $          237,306   $        1,100,549 
                                         =================== ==================== ===================  ===================



                                          JANUS ASPEN FORTY    JANUS ASPEN JANUS                                          
                                         INVESTMENT DIVISION  INVESTMENT DIVISION                                         
                                         -------------------  -------------------                                         
                                                                                                                          
ASSETS:                                                                                                                   
   Investments at fair value............ $          887,851   $          971,678                                          
   Due from Metropolitan Life                                                                                             
     Insurance Company..................                 --                   --                                          
                                         -------------------  -------------------                                         
       Total Assets.....................            887,851              971,678                                          
                                         -------------------  -------------------                                         
LIABILITIES:                                                                                                              
   Due to Metropolitan Life                                                                                               
     Insurance Company..................                  4                    1                                          
                                         -------------------  -------------------                                         
       Total Liabilities................                  4                    1                                          
                                         -------------------  -------------------                                         

NET ASSETS.............................. $          887,847   $          971,677                                          
                                         ===================  ===================                                         

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)   
DECEMBER 31, 2012   

                                                        [Enlarge/Download Table]


                                                                    MFS VIT              MFS VIT              MFS VIT      
                                         JANUS ASPEN OVERSEAS    GLOBAL EQUITY         HIGH INCOME         NEW DISCOVERY   
                                          INVESTMENT DIVISION INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION
                                         -------------------- -------------------  -------------------  -------------------
                                                                                                                           
ASSETS:                                                                                                                    
   Investments at fair value............  $          441,943  $          135,428   $          161,268   $         171,983  
   Due from Metropolitan Life                                                                                              
     Insurance Company..................                  --                  --                   --                  --  
                                         -------------------- -------------------  -------------------  -------------------
       Total Assets.....................             441,943             135,428              161,268             171,983  
                                         -------------------- -------------------  -------------------  -------------------
LIABILITIES:                                                                                                               
   Due to Metropolitan Life                                                                                                
     Insurance Company..................                   1                  --                    1                  --  
                                         -------------------- -------------------  -------------------  -------------------
       Total Liabilities................                   1                  --                    1                  --  
                                         -------------------- -------------------  -------------------  -------------------

NET ASSETS..............................  $          441,942  $          135,428   $          161,267   $         171,983  
                                         ==================== ===================  ===================  ===================


                                                                    MIST                                                   
                                                              ALLIANCEBERNSTEIN          MIST                 MIST         
                                               MFS VIT         GLOBAL DYNAMIC       AMERICAN FUNDS       AMERICAN FUNDS    
                                                VALUE            ALLOCATION       BALANCED ALLOCATION   GROWTH ALLOCATION  
                                         INVESTMENT DIVISION INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION 
                                         ------------------- -------------------  -------------------  ------------------- 
                                                                                                                           
ASSETS:                                                                                                                    
   Investments at fair value............ $           17,162  $            7,098   $          631,423   $         926,978   
   Due from Metropolitan Life                                                                                              
     Insurance Company..................                 --                  --                   --                  --   
                                         ------------------- -------------------  -------------------  ------------------- 
       Total Assets.....................             17,162               7,098              631,423             926,978   
                                         ------------------- -------------------  -------------------  ------------------- 
LIABILITIES:                                                                                                               
   Due to Metropolitan Life                                                                                                
     Insurance Company..................                 --                  --                   --                  --   
                                         ------------------- -------------------  -------------------  ------------------- 
       Total Liabilities................                 --                  --                   --                  --   
                                         ------------------- -------------------  -------------------  ------------------- 

NET ASSETS.............................. $           17,162  $            7,098   $          631,423   $         926,978   
                                         =================== ===================  ===================  =================== 



                                                MIST                 MIST                                                  
                                           AMERICAN FUNDS         AQR GLOBAL                                               
                                         MODERATE ALLOCATION     RISK BALANCED                                             
                                         INVESTMENT DIVISION  INVESTMENT DIVISION                                          
                                         -------------------  -------------------                                          
                                                                                                                           
ASSETS:                                                                                                                    
   Investments at fair value............ $          587,686   $           24,784                                           
   Due from Metropolitan Life                                                                                              
     Insurance Company..................                 --                   --                                           
                                         -------------------  -------------------                                          
       Total Assets.....................            587,686               24,784                                           
                                         -------------------  -------------------                                          
LIABILITIES:                                                                                                               
   Due to Metropolitan Life                                                                                                
     Insurance Company..................                 --                   --                                           
                                         -------------------  -------------------                                          
       Total Liabilities................                 --                   --                                           
                                         -------------------  -------------------                                          

NET ASSETS.............................. $          587,686   $           24,784                                           
                                         ===================  ===================                                          

The accompanying notes are an integral part of these financial statements.    

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The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)   
DECEMBER 31, 2012   

                                                        [Enlarge/Download Table]

                                            MIST BLACKROCK                                                                  
                                            GLOBAL TACTICAL      MIST BLACKROCK        MIST CLARION          MIST DREMAN    
                                              STRATEGIES         LARGE CAP CORE     GLOBAL REAL ESTATE     SMALL CAP VALUE  
                                          INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION
                                         -------------------- -------------------- -------------------- --------------------
                                                                                                                            
ASSETS:                                                                                                                     
   Investments at fair value............ $            39,078  $       307,558,831  $        26,083,320  $            38,553 
   Due from Metropolitan Life                                                                                               
     Insurance Company..................                  --                   --                   --                   -- 
                                         -------------------- -------------------- -------------------- --------------------
       Total Assets.....................              39,078          307,558,831           26,083,320               38,553 
                                         -------------------- -------------------- -------------------- --------------------
LIABILITIES:                                                                                                                
   Due to Metropolitan Life                                                                                                 
     Insurance Company..................                  --                    6                    2                   -- 
                                         -------------------- -------------------- -------------------- --------------------
       Total Liabilities................                  --                    6                    2                   -- 
                                         -------------------- -------------------- -------------------- --------------------

NET ASSETS.............................. $            39,078  $       307,558,825  $        26,083,318  $            38,553 
                                         ==================== ==================== ==================== ====================


                                                MIST             MIST INVESCO                                               
                                           HARRIS OAKMARK        BALANCED-RISK        MIST INVESCO                          
                                            INTERNATIONAL         ALLOCATION        SMALL CAP GROWTH     MIST JANUS FORTY   
                                         INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION 
                                         -------------------  -------------------  -------------------  ------------------- 
                                                                                                                            
ASSETS:                                                                                                                     
   Investments at fair value............ $       33,602,696   $            7,513   $        4,616,669   $       15,566,776  
   Due from Metropolitan Life                                                                                               
     Insurance Company..................                 --                   --                   --                   --  
                                         -------------------  -------------------  -------------------  ------------------- 
       Total Assets.....................         33,602,696                7,513            4,616,669           15,566,776  
                                         -------------------  -------------------  -------------------  ------------------- 
LIABILITIES:                                                                                                                
   Due to Metropolitan Life                                                                                                 
     Insurance Company..................                  1                   --                    1                   --  
                                         -------------------  -------------------  -------------------  ------------------- 
       Total Liabilities................                  1                   --                    1                   --  
                                         -------------------  -------------------  -------------------  ------------------- 

NET ASSETS.............................. $       33,602,695   $            7,513   $        4,616,668   $       15,566,776  
                                         ===================  ===================  ===================  =================== 


                                            MIST JPMORGAN          MIST LEGG                                                
                                            GLOBAL ACTIVE      MASON CLEARBRIDGE                                            
                                             ALLOCATION        AGGRESSIVE GROWTH                                            
                                         INVESTMENT DIVISION  INVESTMENT DIVISION                                           
                                         -------------------  -------------------                                           
                                                                                                                            
ASSETS:                                                                                                                     
   Investments at fair value............ $           18,883   $       14,226,385                                            
   Due from Metropolitan Life                                                                                               
     Insurance Company..................                 --                   --                                            
                                         -------------------  -------------------                                           
       Total Assets.....................             18,883           14,226,385                                            
                                         -------------------  -------------------                                           
LIABILITIES:                                                                                                                
   Due to Metropolitan Life                                                                                                 
     Insurance Company..................                 --                   --                                            
                                         -------------------  -------------------                                           
       Total Liabilities................                 --                   --                                            
                                         -------------------  -------------------                                           

NET ASSETS.............................. $           18,883   $       14,226,385                                            
                                         ===================  ===================                                           

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)   
DECEMBER 31, 2012   

                                                        [Enlarge/Download Table]


                                          MIST LORD ABBETT     MIST LORD ABBETT     MIST MET/FRANKLIN   MIST MET/FRANKLIN 
                                           BOND DEBENTURE        MID CAP VALUE           INCOME           MUTUAL SHARES   
                                         INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION INVESTMENT DIVISION
                                         -------------------  -------------------  ------------------- -------------------
                                                                                                                          
ASSETS:                                                                                                                   
   Investments at fair value............ $       28,515,095   $       74,894,972   $          340,094  $          118,548 
   Due from Metropolitan Life                                                                                             
     Insurance Company..................                 --                   --                   --                  -- 
                                         -------------------  -------------------  ------------------- -------------------
       Total Assets.....................         28,515,095           74,894,972              340,094             118,548 
                                         -------------------  -------------------  ------------------- -------------------
LIABILITIES:                                                                                                              
   Due to Metropolitan Life                                                                                               
     Insurance Company..................                 --                2,052                   --                  -- 
                                         -------------------  -------------------  ------------------- -------------------
       Total Liabilities................                 --                2,052                   --                  -- 
                                         -------------------  -------------------  ------------------- -------------------

NET ASSETS.............................. $       28,515,095   $       74,892,920   $          340,094  $          118,548 
                                         ===================  ===================  =================== ===================


                                          MIST MET/FRANKLIN                                                               
                                         TEMPLETON FOUNDING  MIST MET/TEMPLETON   MIST MET/TEMPLETON      MIST METLIFE    
                                              STRATEGY             GROWTH         INTERNATIONAL BOND   AGGRESSIVE STRATEGY
                                         INVESTMENT DIVISION INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION
                                         ------------------- -------------------  -------------------  -------------------
                                                                                                                          
ASSETS:                                                                                                                   
   Investments at fair value............ $          320,390   $          67,807   $            2,605   $       15,142,597 
   Due from Metropolitan Life                                                                                             
     Insurance Company..................                 --                  --                   --                   -- 
                                         ------------------- -------------------  -------------------  -------------------
       Total Assets.....................            320,390              67,807                2,605           15,142,597 
                                         ------------------- -------------------  -------------------  -------------------
LIABILITIES:                                                                                                              
   Due to Metropolitan Life                                                                                               
     Insurance Company..................                 --                  --                   --                    1 
                                         ------------------- -------------------  -------------------  -------------------
       Total Liabilities................                 --                  --                   --                    1 
                                         ------------------- -------------------  -------------------  -------------------

NET ASSETS.............................. $          320,390   $          67,807   $            2,605   $       15,142,596 
                                         =================== ===================  ===================  ===================



                                            MIST METLIFE       MIST MFS EMERGING                                          
                                            BALANCED PLUS       MARKETS EQUITY                                            
                                         INVESTMENT DIVISION  INVESTMENT DIVISION                                         
                                         -------------------  -------------------                                         
                                                                                                                          
ASSETS:                                                                                                                   
   Investments at fair value............ $           45,933   $           88,957                                          
   Due from Metropolitan Life                                                                                             
     Insurance Company..................                 --                   --                                          
                                         -------------------  -------------------                                         
       Total Assets.....................             45,933               88,957                                          
                                         -------------------  -------------------                                         
LIABILITIES:                                                                                                              
   Due to Metropolitan Life                                                                                               
     Insurance Company..................                 --                   --                                          
                                         -------------------  -------------------                                         
       Total Liabilities................                 --                   --                                          
                                         -------------------  -------------------                                         

NET ASSETS.............................. $           45,933   $           88,957                                          
                                         ===================  ===================                                         

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)   
DECEMBER 31, 2012   

                                                        [Enlarge/Download Table]

                                                                                            MIST                 MIST        
                                           MIST MFS RESEARCH                           MORGAN STANLEY       PIMCO INFLATION  
                                             INTERNATIONAL      MIST MLA MID CAP       MID CAP GROWTH       PROTECTED BOND   
                                          INVESTMENT DIVISION  INVESTMENT DIVISION   INVESTMENT DIVISION  INVESTMENT DIVISION
                                          -------------------  -------------------  --------------------  -------------------
                                                                                                                             
ASSETS:                                                                                                                      
   Investments at fair value............. $       15,720,816   $         5,197,740  $       186,491,113   $       13,671,560 
   Due from Metropolitan Life                                                                                                
     Insurance Company...................                 --                    --                   --                   -- 
                                          -------------------  -------------------  --------------------  -------------------
       Total Assets......................         15,720,816             5,197,740          186,491,113           13,671,560 
                                          -------------------  -------------------  --------------------  -------------------
LIABILITIES:                                                                                                                 
   Due to Metropolitan Life                                                                                                  
     Insurance Company...................                  3                     1                    2                   -- 
                                          -------------------  -------------------  --------------------  -------------------
       Total Liabilities.................                  3                     1                    2                   -- 
                                          -------------------  -------------------  --------------------  -------------------

NET ASSETS............................... $       15,720,813   $         5,197,739  $       186,491,111   $       13,671,560 
                                          ===================  ===================  ====================  ===================



                                               MIST PIMCO                                 MIST RCM          MIST SCHRODERS   
                                              TOTAL RETURN       MIST PIONEER FUND       TECHNOLOGY       GLOBAL MULTI-ASSET 
                                           INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION
                                          --------------------  -------------------  -------------------  -------------------
                                                                                                                             
ASSETS:                                                                                                                      
   Investments at fair value............. $        50,485,894   $          194,666   $       13,932,280   $             5,752
   Due from Metropolitan Life                                                                                                
     Insurance Company...................                  --                   --                   --                    --
                                          --------------------  -------------------  -------------------  -------------------
       Total Assets......................          50,485,894              194,666           13,932,280                 5,752
                                          --------------------  -------------------  -------------------  -------------------
LIABILITIES:                                                                                                                 
   Due to Metropolitan Life                                                                                                  
     Insurance Company...................                   1                    2                   --                    --
                                          --------------------  -------------------  -------------------  -------------------
       Total Liabilities.................                   1                    2                   --                    --
                                          --------------------  -------------------  -------------------  -------------------

NET ASSETS............................... $        50,485,893   $          194,664   $       13,932,280   $             5,752
                                          ====================  ===================  ===================  ===================



                                            MIST SSGA GROWTH         MIST SSGA                                               
                                             AND INCOME ETF         GROWTH ETF                                               
                                           INVESTMENT DIVISION  INVESTMENT DIVISION                                          
                                          --------------------  -------------------                                          
                                                                                                                             
ASSETS:                                                                                                                      
   Investments at fair value............. $         6,167,640   $        4,244,488                                           
   Due from Metropolitan Life                                                                                                
     Insurance Company...................                  --                   --                                           
                                          --------------------  -------------------                                          
       Total Assets......................           6,167,640            4,244,488                                           
                                          --------------------  -------------------                                          
LIABILITIES:                                                                                                                 
   Due to Metropolitan Life                                                                                                  
     Insurance Company...................                  --                   --                                           
                                          --------------------  -------------------                                          
       Total Liabilities.................                  --                   --                                           
                                          --------------------  -------------------                                          

NET ASSETS............................... $         6,167,640   $        4,244,488                                           
                                          ====================  ===================                                          

The accompanying notes are an integral part of these financial statements.    

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The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)   
DECEMBER 31, 2012   

                                                        [Enlarge/Download Table]


                                         MIST T. ROWE PRICE   MIST T. ROWE PRICE    MIST THIRD AVENUE   MSF BAILLIE GIFFORD 
                                           LARGE CAP VALUE      MID CAP GROWTH       SMALL CAP VALUE    INTERNATIONAL STOCK 
                                         INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION 
                                         -------------------  -------------------  -------------------  ------------------- 
                                                                                                                            
ASSETS:                                                                                                                     
   Investments at fair value............ $        1,320,516   $       21,145,655   $          881,725   $       40,399,667  
   Due from Metropolitan Life                                                                                               
     Insurance Company..................                 --                   --                   12                   --  
                                         -------------------  -------------------  -------------------  ------------------- 
       Total Assets.....................          1,320,516           21,145,655              881,737           40,399,667  
                                         -------------------  -------------------  -------------------  ------------------- 
LIABILITIES:                                                                                                                
   Due to Metropolitan Life                                                                                                 
     Insurance Company..................                  1                   --                   --                    2  
                                         -------------------  -------------------  -------------------  ------------------- 
       Total Liabilities................                  1                   --                   --                    2  
                                         -------------------  -------------------  -------------------  ------------------- 

NET ASSETS.............................. $        1,320,515   $       21,145,655   $          881,737   $       40,399,665  
                                         ===================  ===================  ===================  =================== 



                                         MSF BARCLAYS CAPITAL    MSF BLACKROCK         MSF BLACKROCK        MSF BLACKROCK   
                                         AGGREGATE BOND INDEX  AGGRESSIVE GROWTH        BOND INCOME          DIVERSIFIED    
                                          INVESTMENT DIVISION INVESTMENT DIVISION   INVESTMENT DIVISION  INVESTMENT DIVISION
                                         -------------------- -------------------  --------------------  -------------------
                                                                                                                            
ASSETS:                                                                                                                     
   Investments at fair value............  $       116,415,572 $       190,699,487  $        85,513,328   $      266,981,790 
   Due from Metropolitan Life                                                                                               
     Insurance Company..................                   --                  --                   --                   -- 
                                         -------------------- -------------------  --------------------  -------------------
       Total Assets.....................          116,415,572         190,699,487           85,513,328          266,981,790 
                                         -------------------- -------------------  --------------------  -------------------
LIABILITIES:                                                                                                                
   Due to Metropolitan Life                                                                                                 
     Insurance Company..................                   15                  11                    3                    7 
                                         -------------------- -------------------  --------------------  -------------------
       Total Liabilities................                   15                  11                    3                    7 
                                         -------------------- -------------------  --------------------  -------------------

NET ASSETS..............................  $       116,415,557 $       190,699,476  $        85,513,325   $      266,981,783 
                                         ==================== ===================  ====================  ===================


                                                                 MSF BLACKROCK                                              
                                            MSF BLACKROCK      LEGACY LARGE CAP                                             
                                           LARGE CAP VALUE          GROWTH                                                  
                                         INVESTMENT DIVISION  INVESTMENT DIVISION                                           
                                         -------------------  -------------------                                           
                                                                                                                            
ASSETS:                                                                                                                     
   Investments at fair value............ $       14,290,950   $       14,012,103                                            
   Due from Metropolitan Life                                                                                               
     Insurance Company..................                 --                   --                                            
                                         -------------------  -------------------                                           
       Total Assets.....................         14,290,950           14,012,103                                            
                                         -------------------  -------------------                                           
LIABILITIES:                                                                                                                
   Due to Metropolitan Life                                                                                                 
     Insurance Company..................                 --                    4                                            
                                         -------------------  -------------------                                           
       Total Liabilities................                 --                    4                                            
                                         -------------------  -------------------                                           

NET ASSETS.............................. $       14,290,950   $       14,012,099                                            
                                         ===================  ===================                                           

The accompanying notes are an integral part of these financial statements.    

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The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)   
DECEMBER 31, 2012   

                                                        [Enlarge/Download Table]


                                             MSF BLACKROCK          MSF DAVIS             MSF FI            MSF JENNISON     
                                             MONEY MARKET         VENTURE VALUE        VALUE LEADERS           GROWTH        
                                          INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION 
                                          -------------------  -------------------  -------------------  ------------------- 
                                                                                                                             
ASSETS:                                                                                                                      
   Investments at fair value............. $       23,274,455   $       58,219,353   $        6,748,157   $        17,774,610 
   Due from Metropolitan Life                                                                                                
     Insurance Company...................                 --                   --                   --                     1 
                                          -------------------  -------------------  -------------------  ------------------- 
       Total Assets......................         23,274,455           58,219,353            6,748,157            17,774,611 
                                          -------------------  -------------------  -------------------  ------------------- 
LIABILITIES:                                                                                                                 
   Due to Metropolitan Life                                                                                                  
     Insurance Company...................                  1                    1                   --                    -- 
                                          -------------------  -------------------  -------------------  ------------------- 
       Total Liabilities.................                  1                    1                   --                    -- 
                                          -------------------  -------------------  -------------------  ------------------- 

NET ASSETS............................... $       23,274,454   $       58,219,352   $        6,748,157   $        17,774,611 
                                          ===================  ===================  ===================  =================== 


                                                                                                              MSF METLIFE    
                                           MSF LOOMIS SAYLES    MSF LOOMIS SAYLES      MSF MET/ARTISAN       CONSERVATIVE    
                                            SMALL CAP CORE      SMALL CAP GROWTH        MID CAP VALUE         ALLOCATION     
                                          INVESTMENT DIVISION  INVESTMENT DIVISION   INVESTMENT DIVISION  INVESTMENT DIVISION
                                          -------------------  -------------------   -------------------  -------------------
                                                                                                                             
ASSETS:                                                                                                                      
   Investments at fair value............. $       18,836,597   $         8,095,037   $       50,145,783   $        5,385,935 
   Due from Metropolitan Life                                                                                                
     Insurance Company...................                 --                    --                   --                   -- 
                                          -------------------  -------------------   -------------------  -------------------
       Total Assets......................         18,836,597             8,095,037           50,145,783            5,385,935 
                                          -------------------  -------------------   -------------------  -------------------
LIABILITIES:                                                                                                                 
   Due to Metropolitan Life                                                                                                  
     Insurance Company...................                 --                    --                   --                   -- 
                                          -------------------  -------------------   -------------------  -------------------
       Total Liabilities.................                 --                    --                   --                   -- 
                                          -------------------  -------------------   -------------------  -------------------

NET ASSETS............................... $       18,836,597   $         8,095,037   $       50,145,783   $        5,385,935 
                                          ===================  ===================   ===================  ===================


                                              MSF METLIFE                                                                    
                                            CONSERVATIVE TO        MSF METLIFE                                               
                                          MODERATE ALLOCATION  MID CAP STOCK INDEX                                           
                                          INVESTMENT DIVISION  INVESTMENT DIVISION                                           
                                          -------------------  -------------------                                           
                                                                                                                             
ASSETS:                                                                                                                      
   Investments at fair value............. $        8,676,631   $       69,807,817                                            
   Due from Metropolitan Life                                                                                                
     Insurance Company...................                 --                   --                                            
                                          -------------------  -------------------                                           
       Total Assets......................          8,676,631           69,807,817                                            
                                          -------------------  -------------------                                           
LIABILITIES:                                                                                                                 
   Due to Metropolitan Life                                                                                                  
     Insurance Company...................                  1                   --                                            
                                          -------------------  -------------------                                           
       Total Liabilities.................                  1                   --                                            
                                          -------------------  -------------------                                           

NET ASSETS............................... $        8,676,630   $       69,807,817                                            
                                          ===================  ===================                                           

The accompanying notes are an integral part of these financial statements.    

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The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)   
DECEMBER 31, 2012   

                                                        [Enlarge/Download Table]

                                                                  MSF METLIFE                                              
                                             MSF METLIFE          MODERATE TO          MSF METLIFE            MSF MFS      
                                         MODERATE ALLOCATION AGGRESSIVE ALLOCATION     STOCK INDEX         TOTAL RETURN    
                                         INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION
                                         ------------------- --------------------- -------------------  -------------------
                                                                                                                           
ASSETS:                                                                                                                    
   Investments at fair value............ $       45,401,739   $       77,039,719   $      739,806,268   $        8,143,438 
   Due from Metropolitan Life                                                                                              
     Insurance Company..................                 --                   --                   --                   -- 
                                         ------------------- --------------------- -------------------  -------------------
       Total Assets.....................         45,401,739           77,039,719          739,806,268            8,143,438 
                                         ------------------- --------------------- -------------------  -------------------
LIABILITIES:                                                                                                               
   Due to Metropolitan Life                                                                                                
     Insurance Company..................                  1                   --                   37                    2 
                                         ------------------- --------------------- -------------------  -------------------
       Total Liabilities................                  1                   --                   37                    2 
                                         ------------------- --------------------- -------------------  -------------------

NET ASSETS.............................. $       45,401,738   $       77,039,719   $      739,806,231   $        8,143,436 
                                         =================== ===================== ===================  ===================



                                                                   MSF MSCI           MSF NEUBERGER       MSF OPPENHEIMER  
                                            MSF MFS VALUE         EAFE INDEX         BERMAN GENESIS        GLOBAL EQUITY   
                                         INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION
                                         -------------------  -------------------  -------------------  -------------------
                                                                                                                           
ASSETS:                                                                                                                    
   Investments at fair value............ $       57,891,428   $       68,221,823   $       82,409,607   $       41,848,254 
   Due from Metropolitan Life                                                                                              
     Insurance Company..................                 --                   62                   --                   85 
                                         -------------------  -------------------  -------------------  -------------------
       Total Assets.....................         57,891,428           68,221,885           82,409,607           41,848,339 
                                         -------------------  -------------------  -------------------  -------------------
LIABILITIES:                                                                                                               
   Due to Metropolitan Life                                                                                                
     Insurance Company..................                  3                   --                    1                   -- 
                                         -------------------  -------------------  -------------------  -------------------
       Total Liabilities................                  3                   --                    1                   -- 
                                         -------------------  -------------------  -------------------  -------------------

NET ASSETS.............................. $       57,891,425   $       68,221,885   $       82,409,606   $       41,848,339 
                                         ===================  ===================  ===================  ===================



                                          MSF RUSSELL 2000     MSF T. ROWE PRICE                                           
                                                INDEX          LARGE CAP GROWTH                                            
                                         INVESTMENT DIVISION  INVESTMENT DIVISION                                          
                                         -------------------  -------------------                                          
                                                                                                                           
ASSETS:                                                                                                                    
   Investments at fair value............ $       55,930,593   $       49,402,477                                           
   Due from Metropolitan Life                                                                                              
     Insurance Company..................                  7                   --                                           
                                         -------------------  -------------------                                          
       Total Assets.....................         55,930,600           49,402,477                                           
                                         -------------------  -------------------                                          
LIABILITIES:                                                                                                               
   Due to Metropolitan Life                                                                                                
     Insurance Company..................                 --                   12                                           
                                         -------------------  -------------------                                          
       Total Liabilities................                 --                   12                                           
                                         -------------------  -------------------                                          

NET ASSETS.............................. $       55,930,600   $       49,402,465                                           
                                         ===================  ===================                                          

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF ASSETS AND LIABILITIES -- (CONTINUED)   
DECEMBER 31, 2012   

                                                        [Enlarge/Download Table]

                                                                                     MSF WESTERN                         
                                                                 MSF VAN ECK      ASSET MANAGEMENT        MSF WESTERN    
                                         MSF T. ROWE PRICE     GLOBAL NATURAL      STRATEGIC BOND      ASSET MANAGEMENT  
                                         SMALL CAP GROWTH         RESOURCES         OPPORTUNITIES       U.S. GOVERNMENT  
                                        INVESTMENT DIVISION  INVESTMENT DIVISION INVESTMENT DIVISION  INVESTMENT DIVISION
                                        -------------------  ------------------- -------------------  -------------------
                                                                                                                         
ASSETS:                                                                                                                  
   Investments at fair value........... $       93,411,022   $           53,423  $       25,456,036   $       16,622,548 
   Due from Metropolitan Life                                                                                            
     Insurance Company.................                 --                   --                  --                   -- 
                                        -------------------  ------------------- -------------------  -------------------
       Total Assets....................         93,411,022               53,423          25,456,036           16,622,548 
                                        -------------------  ------------------- -------------------  -------------------
LIABILITIES:                                                                                                             
   Due to Metropolitan Life                                                                                              
     Insurance Company.................                 14                   --                   1                   -- 
                                        -------------------  ------------------- -------------------  -------------------
       Total Liabilities...............                 14                   --                   1                   -- 
                                        -------------------  ------------------- -------------------  -------------------

NET ASSETS............................. $       93,411,008   $           53,423  $       25,456,035   $       16,622,548 
                                        ===================  =================== ===================  ===================



                                                                 PIMCO VIT                                               
                                             PIMCO VIT        LONG-TERM U.S.          PIMCO VIT          PIONEER VCT     
                                             ALL ASSET          GOVERNMENT          LOW DURATION      EMERGING MARKETS   
                                        INVESTMENT DIVISION INVESTMENT DIVISION  INVESTMENT DIVISION INVESTMENT DIVISION 
                                        ------------------- -------------------  ------------------- ------------------- 
                                                                                                                         
ASSETS:                                                                                                                  
   Investments at fair value........... $          131,919   $          30,103   $          986,718   $         673,074  
   Due from Metropolitan Life                                                                                            
     Insurance Company.................                 --                   5                   --                   5  
                                        ------------------- -------------------  ------------------- ------------------- 
       Total Assets....................            131,919              30,108              986,718             673,079  
                                        ------------------- -------------------  ------------------- ------------------- 
LIABILITIES:                                                                                                             
   Due to Metropolitan Life                                                                                              
     Insurance Company.................                 --                  --                1,204                  --  
                                        ------------------- -------------------  ------------------- ------------------- 
       Total Liabilities...............                 --                  --                1,204                  --  
                                        ------------------- -------------------  ------------------- ------------------- 

NET ASSETS............................. $          131,919   $          30,108   $          985,514   $         673,079  
                                        =================== ===================  =================== =================== 



                                            PIONEER VCT                                                                  
                                           MID CAP VALUE      ROYCE MICRO-CAP                                            
                                        INVESTMENT DIVISION INVESTMENT DIVISION                                          
                                        ------------------- -------------------                                          
                                                                                                                         
ASSETS:                                                                                                                  
   Investments at fair value........... $          153,545   $         372,006                                           
   Due from Metropolitan Life                                                                                            
     Insurance Company.................                 --                  --                                           
                                        ------------------- -------------------                                          
       Total Assets....................            153,545             372,006                                           
                                        ------------------- -------------------                                          
LIABILITIES:                                                                                                             
   Due to Metropolitan Life                                                                                              
     Insurance Company.................                 --                  --                                           
                                        ------------------- -------------------                                          
       Total Liabilities...............                 --                  --                                           
                                        ------------------- -------------------                                          

NET ASSETS............................. $          153,545   $         372,006                                           
                                        =================== ===================                                          

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF ASSETS AND LIABILITIES -- (CONCLUDED)   
DECEMBER 31, 2012   

                                                        [Enlarge/Download Table]

                                                                 UIF EMERGING         UIF EMERGING        WELLS FARGO VT   
                                           ROYCE SMALL-CAP       MARKETS DEBT        MARKETS EQUITY      TOTAL RETURN BOND 
                                         INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION  INVESTMENT DIVISION
                                         -------------------  -------------------  -------------------  -------------------
                                                                                                                           
ASSETS:                                                                                                                    
   Investments at fair value............ $          541,873   $        1,182,599   $        1,033,944   $          489,407 
   Due from Metropolitan Life                                                                                              
     Insurance Company..................                 --                   --                   --                   -- 
                                         -------------------  -------------------  -------------------  -------------------
       Total Assets.....................            541,873            1,182,599            1,033,944              489,407 
                                         -------------------  -------------------  -------------------  -------------------
LIABILITIES:                                                                                                               
   Due to Metropolitan Life                                                                                                
     Insurance Company..................                  1                    1                   --                  347 
                                         -------------------  -------------------  -------------------  -------------------
       Total Liabilities................                  1                    1                   --                  347 
                                         -------------------  -------------------  -------------------  -------------------

NET ASSETS.............................. $          541,872   $        1,182,598   $        1,033,944   $          489,060 
                                         ===================  ===================  ===================  ===================

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                          ALLIANCEBERNSTEIN GLOBAL THEMATIC GROWTH             
                                                                                     INVESTMENT DIVISION                       
                                                               --------------------------------------------------------------- 
                                                                      2012                   2011                  2010        
                                                               ------------------    -------------------    ------------------ 
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $               --    $            18,192    $            1,486 
                                                               ------------------    -------------------    ------------------ 
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................                 --                     --                    -- 
                                                               ------------------    -------------------    ------------------ 
          Net investment income (loss)........................                 --                 18,192                 1,486 
                                                               ------------------    -------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                 --                     --                    -- 
      Realized gains (losses) on sale of investments..........        (1,307,724)               (40,514)                 8,379 
                                                               ------------------    -------------------    ------------------ 
          Net realized gains (losses).........................        (1,307,724)               (40,514)                 8,379 
                                                               ------------------    -------------------    ------------------ 
      Change in unrealized gains (losses) on investments......          1,419,031            (1,444,286)                 1,480 
                                                               ------------------    -------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................            111,307            (1,484,800)                 9,859 
                                                               ------------------    -------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $          111,307    $       (1,466,608)    $           11,345 
                                                               ==================    ===================    ================== 



                                                                             ALLIANCEBERNSTEIN INTERMEDIATE BOND               
                                                                                     INVESTMENT DIVISION                       
                                                               --------------------------------------------------------------- 
                                                                      2012                   2011                  2010        
                                                               ------------------    -------------------    ------------------ 
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $            2,404    $             2,097    $            2,177 
                                                               ------------------    -------------------    ------------------ 
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................                 --                     --                    -- 
                                                               ------------------    -------------------    ------------------ 
          Net investment income (loss)........................              2,404                  2,097                 2,177 
                                                               ------------------    -------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................              1,744                    170                    -- 
      Realized gains (losses) on sale of investments..........                 43                     14                 2,172 
                                                               ------------------    -------------------    ------------------ 
          Net realized gains (losses).........................              1,787                    184                 2,172 
                                                               ------------------    -------------------    ------------------ 
      Change in unrealized gains (losses) on investments......              (188)                    563               (1,393) 
                                                               ------------------    -------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................              1,599                    747                   779 
                                                               ------------------    -------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $            4,003    $             2,844    $            2,956 
                                                               ==================    ===================    ================== 



                                                                            ALLIANCEBERNSTEIN INTERNATIONAL VALUE              
                                                                                     INVESTMENT DIVISION                       
                                                               ----------------------------------------------------------------
                                                                       2012                  2011                2010 (a)      
                                                               -------------------    ------------------    -------------------
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $                 2    $                7    $                31
                                                               -------------------    ------------------    -------------------
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................                  --                   167                     --
                                                               -------------------    ------------------    -------------------
          Net investment income (loss)........................                   2                 (160)                     31
                                                               -------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                  --                    --                     --
      Realized gains (losses) on sale of investments..........                 (1)                   175                      1
                                                               -------------------    ------------------    -------------------
          Net realized gains (losses).........................                 (1)                   175                      1
                                                               -------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments......                  17                 (129)                     88
                                                               -------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................                  16                    46                     89
                                                               -------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $                18    $            (114)    $               120
                                                               ===================    ==================    ===================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                 AMERICAN CENTURY VP VISTA                   
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                      2012                  2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $                --    $               --    $               --
                                                              -------------------    ------------------    ------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                  --                    --                    --
                                                              -------------------    ------------------    ------------------
          Net investment income (loss).......................                  --                    --                    --
                                                              -------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                  --                    --                    --
      Realized gains (losses) on sale of investments.........                 328                 5,995                12,351
                                                              -------------------    ------------------    ------------------
          Net realized gains (losses)........................                 328                 5,995                12,351
                                                              -------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....                 873               (8,184)               (1,947)
                                                              -------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................               1,201               (2,189)                10,404
                                                              -------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $             1,201    $          (2,189)    $           10,404
                                                              ===================    ==================    ==================



                                                                                   AMERICAN FUNDS BOND                       
                                                                                   INVESTMENT DIVISION                       
                                                              ---------------------------------------------------------------
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    -------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $          133,110    $          140,691    $           126,810
                                                              ------------------    ------------------    -------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................              9,169                 8,171                  7,622
                                                              ------------------    ------------------    -------------------
          Net investment income (loss).......................            123,941               132,520                119,188
                                                              ------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                 --                    --                     --
      Realized gains (losses) on sale of investments.........             27,506                10,695                (8,911)
                                                              ------------------    ------------------    -------------------
          Net realized gains (losses)........................             27,506                10,695                (8,911)
                                                              ------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments.....            108,693               121,054                122,161
                                                              ------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................            136,199               131,749                113,250
                                                              ------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $          260,140    $          264,269    $           232,438
                                                              ==================    ==================    ===================



                                                                       AMERICAN FUNDS GLOBAL SMALL CAPITALIZATION            
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $          761,809    $          817,781    $        1,031,490 
                                                              ------------------    ------------------    ------------------ 
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................             80,276                90,481                91,513 
                                                              ------------------    ------------------    ------------------ 
          Net investment income (loss).......................            681,533               727,300               939,977 
                                                              ------------------    ------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                 --                    --                    -- 
      Realized gains (losses) on sale of investments.........          (342,892)              (68,423)             (386,466) 
                                                              ------------------    ------------------    ------------------ 
          Net realized gains (losses)........................          (342,892)              (68,423)             (386,466) 
                                                              ------------------    ------------------    ------------------ 
      Change in unrealized gains (losses) on investments.....          9,028,936          (13,188,181)            11,810,164 
                                                              ------------------    ------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................          8,686,044          (13,256,604)            11,423,698 
                                                              ------------------    ------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $        9,367,577    $     (12,529,304)    $       12,363,675 
                                                              ==================    ==================    ================== 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                       AMERICAN FUNDS GROWTH                  
                                                                                        INVESTMENT DIVISION                   
                                                                       -----------------------------------------------------  
                                                                             2012               2011               2010       
                                                                       ----------------   ---------------    ---------------  
                                                                                                                              
INVESTMENT INCOME:                                                                                                            
      Dividends....................................................... $      1,013,020   $       771,098    $       832,401  
                                                                       ----------------   ---------------    ---------------  
EXPENSES:                                                                                                                     
      Mortality and expense risk charges..............................          133,202           141,089            132,325  
                                                                       ----------------   ---------------    ---------------  
          Net investment income (loss)................................          879,818           630,009            700,076  
                                                                       ----------------   ---------------    ---------------  
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                         
   ON INVESTMENTS:                                                                                                            
      Realized gain distributions.....................................               --                --                 --  
      Realized gains (losses) on sale of investments..................        1,170,827           658,869          (328,082)  
                                                                       ----------------   ---------------    ---------------  
          Net realized gains (losses).................................        1,170,827           658,869          (328,082)  
                                                                       ----------------   ---------------    ---------------  
      Change in unrealized gains (losses) on investments..............       18,556,699       (6,628,058)         19,817,938  
                                                                       ----------------   ---------------    ---------------  
      Net realized and changes in unrealized gains (losses)                                                                   
        on investments................................................       19,727,526       (5,969,189)         19,489,856  
                                                                       ----------------   ---------------    ---------------  
      Net increase (decrease) in net assets resulting                                                                         
        from operations............................................... $     20,607,344   $   (5,339,180)    $    20,189,932  
                                                                       ================   ===============    ===============  



                                                                                   AMERICAN FUNDS GROWTH-INCOME               
                                                                                        INVESTMENT DIVISION                   
                                                                       ------------------------------------------------------ 
                                                                             2012               2011               2010       
                                                                       ----------------    ---------------    --------------- 
                                                                                                                              
INVESTMENT INCOME:                                                                                                            
      Dividends....................................................... $      1,253,842    $     1,148,376    $     1,018,183 
                                                                       ----------------    ---------------    --------------- 
EXPENSES:                                                                                                                     
      Mortality and expense risk charges..............................           78,704             77,416             75,054 
                                                                       ----------------    ---------------    --------------- 
          Net investment income (loss)................................        1,175,138          1,070,960            943,129 
                                                                       ----------------    ---------------    --------------- 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                         
   ON INVESTMENTS:                                                                                                            
      Realized gain distributions.....................................               --                 --                 -- 
      Realized gains (losses) on sale of investments..................          300,932           (58,726)          (336,443) 
                                                                       ----------------    ---------------    --------------- 
          Net realized gains (losses).................................          300,932           (58,726)          (336,443) 
                                                                       ----------------    ---------------    --------------- 
      Change in unrealized gains (losses) on investments..............       10,629,027        (2,428,568)          6,948,053 
                                                                       ----------------    ---------------    --------------- 
      Net realized and changes in unrealized gains (losses)                                                                   
        on investments................................................       10,929,959        (2,487,294)          6,611,610 
                                                                       ----------------    ---------------    --------------- 
      Net increase (decrease) in net assets resulting                                                                         
        from operations............................................... $     12,105,097    $   (1,416,334)    $     7,554,739 
                                                                       ================    ===============    =============== 



                                                                         AMERICAN FUNDS                                       
                                                                        HIGH-INCOME BOND                                      
                                                                       INVESTMENT DIVISION                                    
                                                                       -------------------                                    
                                                                            2012 (b)                                          
                                                                       -------------------                                    
                                                                                                                              
INVESTMENT INCOME:                                                                                                            
      Dividends.......................................................   $         3,203                                      
                                                                       -------------------                                    
EXPENSES:                                                                                                                     
      Mortality and expense risk charges..............................                --                                      
                                                                       -------------------                                    
          Net investment income (loss)................................             3,203                                      
                                                                       -------------------                                    
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                         
   ON INVESTMENTS:                                                                                                            
      Realized gain distributions.....................................                --                                      
      Realized gains (losses) on sale of investments..................                 6                                      
                                                                       -------------------                                    
          Net realized gains (losses).................................                 6                                      
                                                                       -------------------                                    
      Change in unrealized gains (losses) on investments..............             (677)                                      
                                                                       -------------------                                    
      Net realized and changes in unrealized gains (losses)                                                                   
        on investments................................................             (671)                                      
                                                                       -------------------                                    
      Net increase (decrease) in net assets resulting                                                                         
        from operations...............................................   $         2,532                                      
                                                                       ===================                                    



                                                                                   AMERICAN FUNDS INTERNATIONAL               
                                                                                        INVESTMENT DIVISION                   
                                                                       -------------------------------------------------------
                                                                             2012               2011               2010       
                                                                       ----------------   ----------------    ----------------
                                                                                                                              
INVESTMENT INCOME:                                                                                                            
      Dividends....................................................... $          7,535    $        10,736    $         13,328
                                                                       ----------------   ----------------    ----------------
EXPENSES:                                                                                                                     
      Mortality and expense risk charges..............................               --                 --                  --
                                                                       ----------------   ----------------    ----------------
          Net investment income (loss)................................            7,535             10,736              13,328
                                                                       ----------------   ----------------    ----------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                         
   ON INVESTMENTS:                                                                                                            
      Realized gain distributions.....................................               --                 --                  --
      Realized gains (losses) on sale of investments..................          (1,402)              (605)               (608)
                                                                       ----------------   ----------------    ----------------
          Net realized gains (losses).................................          (1,402)              (605)               (608)
                                                                       ----------------   ----------------    ----------------
      Change in unrealized gains (losses) on investments..............           82,398          (108,507)              46,566
                                                                       ----------------   ----------------    ----------------
      Net realized and changes in unrealized gains (losses)                                                                   
        on investments................................................           80,996          (109,112)              45,958
                                                                       ----------------   ----------------    ----------------
      Net increase (decrease) in net assets resulting                                                                         
        from operations............................................... $         88,531    $      (98,376)    $         59,286
                                                                       ================   ================    ================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                  AMERICAN FUNDS U.S. GOVERNMENT/AAA-RATED SECURITIES      
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $              440    $              773    $              683
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                    --
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................                440                   773                   683
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................              1,252                 1,111                   193
      Realized gains (losses) on sale of investments........                258                   509                   450
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................              1,510                 1,620                   643
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....            (1,126)                   885                 1,804
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................                384                 2,505                 2,447
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $              824    $            3,278    $            3,130
                                                             ==================    ==================    ==================



                                                                           DREYFUS VIF INTERNATIONAL VALUE                 
                                                                                 INVESTMENT DIVISION                       
                                                             ------------------------------------------------------------- 
                                                                   2012                  2011                  2010        
                                                             ------------------   ------------------    ------------------ 
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $            4,882   $            4,085    $            3,367 
                                                             ------------------   ------------------    ------------------ 
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                   --                    -- 
                                                             ------------------   ------------------    ------------------ 
          Net investment income (loss)......................              4,882                4,085                 3,367 
                                                             ------------------   ------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................                 --                   --                    -- 
      Realized gains (losses) on sale of investments........            (1,011)                (960)              (14,086) 
                                                             ------------------   ------------------    ------------------ 
          Net realized gains (losses).......................            (1,011)                (960)              (14,086) 
                                                             ------------------   ------------------    ------------------ 
      Change in unrealized gains (losses) on investments....             18,857             (45,726)                19,382 
                                                             ------------------   ------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................             17,846             (46,686)                 5,296 
                                                             ------------------   ------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $           22,728   $         (42,601)    $            8,663 
                                                             ==================   ==================    ================== 



                                                                          FIDELITY VIP ASSET MANAGER: GROWTH               
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $           24,972    $           23,605    $           19,264
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                    --
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................             24,972                23,605                19,264
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................              7,043                 3,056                 5,857
      Realized gains (losses) on sale of investments........             28,654                71,204                31,417
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................             35,697                74,260                37,274
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....            172,026             (205,700)               201,872
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................            207,723             (131,440)               239,146
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $          232,695    $        (107,835)    $          258,410
                                                             ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                  FIDELITY VIP CONTRAFUND                    
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                      2012                  2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $            28,837    $           20,916    $           27,427
                                                              -------------------    ------------------    ------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                  --                    --                    --
                                                              -------------------    ------------------    ------------------
          Net investment income (loss).......................              28,837                20,916                27,427
                                                              -------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                  --                    --                 1,114
      Realized gains (losses) on sale of investments.........              38,806                12,745             (218,742)
                                                              -------------------    ------------------    ------------------
          Net realized gains (losses)........................              38,806                12,745             (217,628)
                                                              -------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....             288,092              (98,141)               648,547
                                                              -------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................             326,898              (85,396)               430,919
                                                              -------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $           355,735    $         (64,480)    $          458,346
                                                              ===================    ==================    ==================



                                                                               FIDELITY VIP EQUITY-INCOME                    
                                                                                   INVESTMENT DIVISION                       
                                                              ---------------------------------------------------------------
                                                                     2012                  2011                   2010       
                                                              ------------------    -------------------    ------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $            1,836    $               637    $            3,327
                                                              ------------------    -------------------    ------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                 --                     --                    --
                                                              ------------------    -------------------    ------------------
          Net investment income (loss).......................              1,836                    637                 3,327
                                                              ------------------    -------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................              2,863                     --                    --
      Realized gains (losses) on sale of investments.........                376                  2,625               (5,418)
                                                              ------------------    -------------------    ------------------
          Net realized gains (losses)........................              3,239                  2,625               (5,418)
                                                              ------------------    -------------------    ------------------
      Change in unrealized gains (losses) on investments.....            (1,146)                (8,921)                31,745
                                                              ------------------    -------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................              2,093                (6,296)                26,327
                                                              ------------------    -------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $            3,929    $           (5,659)    $           29,654
                                                              ==================    ===================    ==================



                                                                                FIDELITY VIP FREEDOM 2010                    
                                                                                   INVESTMENT DIVISION                       
                                                              ---------------------------------------------------------------
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    -------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $              733    $              726    $               654
                                                              ------------------    ------------------    -------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                169                   150                    109
                                                              ------------------    ------------------    -------------------
          Net investment income (loss).......................                564                   576                    545
                                                              ------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                535                   176                    470
      Realized gains (losses) on sale of investments.........                 98                 1,305                     67
                                                              ------------------    ------------------    -------------------
          Net realized gains (losses)........................                633                 1,481                    537
                                                              ------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments.....              2,707               (2,344)                  2,036
                                                              ------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................              3,340                 (863)                  2,573
                                                              ------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $            3,904    $            (287)    $             3,118
                                                              ==================    ==================    ===================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                   FIDELITY VIP FREEDOM 2020                     
                                                                                      INVESTMENT DIVISION                        
                                                                ---------------------------------------------------------------- 
                                                                        2012                  2011                   2010        
                                                                -------------------    -------------------    ------------------ 
                                                                                                                                 
INVESTMENT INCOME:                                                                                                               
      Dividends................................................ $            15,185    $            15,422    $           15,231 
                                                                -------------------    -------------------    ------------------ 
EXPENSES:                                                                                                                        
      Mortality and expense risk charges.......................                 280                    374                   350 
                                                                -------------------    -------------------    ------------------ 
          Net investment income (loss).........................              14,905                 15,048                14,881 
                                                                -------------------    -------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                            
   ON INVESTMENTS:                                                                                                               
      Realized gain distributions..............................               8,838                  2,671                 5,440 
      Realized gains (losses) on sale of investments...........               5,799                 10,134                 2,838 
                                                                -------------------    -------------------    ------------------ 
          Net realized gains (losses)..........................              14,637                 12,805                 8,278 
                                                                -------------------    -------------------    ------------------ 
      Change in unrealized gains (losses) on investments.......              62,352               (33,543)                70,032 
                                                                -------------------    -------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                      
        on investments.........................................              76,989               (20,738)                78,310 
                                                                -------------------    -------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                            
        from operations........................................ $            91,894    $           (5,690)    $           93,191 
                                                                ===================    ===================    ================== 



                                                                                   FIDELITY VIP FREEDOM 2030                     
                                                                                      INVESTMENT DIVISION                        
                                                                -----------------------------------------------------------------
                                                                       2012                   2011                   2010        
                                                                -------------------    -------------------    -------------------
                                                                                                                                 
INVESTMENT INCOME:                                                                                                               
      Dividends................................................ $               881    $             1,232    $             2,018
                                                                -------------------    -------------------    -------------------
EXPENSES:                                                                                                                        
      Mortality and expense risk charges.......................                 216                    214                    133
                                                                -------------------    -------------------    -------------------
          Net investment income (loss).........................                 665                  1,018                  1,885
                                                                -------------------    -------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                            
   ON INVESTMENTS:                                                                                                               
      Realized gain distributions..............................                 425                    172                    680
      Realized gains (losses) on sale of investments...........               2,855                 11,751                    710
                                                                -------------------    -------------------    -------------------
          Net realized gains (losses)..........................               3,280                 11,923                  1,390
                                                                -------------------    -------------------    -------------------
      Change in unrealized gains (losses) on investments.......               3,591               (12,843)                 11,839
                                                                -------------------    -------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                      
        on investments.........................................               6,871                  (920)                 13,229
                                                                -------------------    -------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                            
        from operations........................................ $             7,536    $                98    $            15,114
                                                                ===================    ===================    ===================



                                                                        FIDELITY VIP FREEDOM 2050                                
                                                                           INVESTMENT DIVISION                                   
                                                                -----------------------------------------                        
                                                                       2012                 2011 (c)                             
                                                                ------------------    -------------------                        
                                                                                                                                 
INVESTMENT INCOME:                                                                                                               
      Dividends................................................ $              360    $               288                        
                                                                ------------------    -------------------                        
EXPENSES:                                                                                                                        
      Mortality and expense risk charges.......................                 77                     60                        
                                                                ------------------    -------------------                        
          Net investment income (loss).........................                283                   (60)                        
                                                                ------------------    -------------------                        
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                            
   ON INVESTMENTS:                                                                                                               
      Realized gain distributions..............................              2,132                  1,383                        
      Realized gains (losses) on sale of investments...........                 28                (5,037)                        
                                                                ------------------    -------------------                        
          Net realized gains (losses)..........................              2,160                (3,654)                        
                                                                ------------------    -------------------                        
      Change in unrealized gains (losses) on investments.......                199                  1,450                        
                                                                ------------------    -------------------                        
      Net realized and changes in unrealized gains (losses)                                                                      
        on investments.........................................              2,359                (2,204)                        
                                                                ------------------    -------------------                        
      Net increase (decrease) in net assets resulting                                                                            
        from operations........................................ $            2,642    $           (1,976)                        
                                                                ==================    ===================                        

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                FIDELITY VIP HIGH INCOME                    
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INVESTMENT INCOME:                                                                                                          
      Dividends.............................................. $            9,229    $            2,953    $              340
                                                              ------------------    ------------------    ------------------
EXPENSES:                                                                                                                   
      Mortality and expense risk charges.....................                 --                    --                    --
                                                              ------------------    ------------------    ------------------
          Net investment income (loss).......................              9,229                 2,953                   340
                                                              ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                       
   ON INVESTMENTS:                                                                                                          
      Realized gain distributions............................                 --                    --                    --
      Realized gains (losses) on sale of investments.........                 67                    13                 (227)
                                                              ------------------    ------------------    ------------------
          Net realized gains (losses)........................                 67                    13                 (227)
                                                              ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....            (1,277)               (1,768)                   801
                                                              ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                 
        on investments.......................................            (1,210)               (1,755)                   574
                                                              ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                       
        from operations...................................... $            8,019    $            1,198    $              914
                                                              ==================    ==================    ==================



                                                                           FIDELITY VIP INVESTMENT GRADE BOND               
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INVESTMENT INCOME:                                                                                                          
      Dividends.............................................. $           37,562    $           54,637    $           18,206
                                                              ------------------    ------------------    ------------------
EXPENSES:                                                                                                                   
      Mortality and expense risk charges.....................                 --                    --                    --
                                                              ------------------    ------------------    ------------------
          Net investment income (loss).......................             37,562                54,637                18,206
                                                              ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                       
   ON INVESTMENTS:                                                                                                          
      Realized gain distributions............................             48,616                24,253                 5,814
      Realized gains (losses) on sale of investments.........             33,058               (3,064)                17,651
                                                              ------------------    ------------------    ------------------
          Net realized gains (losses)........................             81,674                21,189                23,465
                                                              ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....            (8,975)                 1,742              (13,312)
                                                              ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                 
        on investments.......................................             72,699                22,931                10,153
                                                              ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                       
        from operations...................................... $          110,261    $           77,568    $           28,359
                                                              ==================    ==================    ==================



                                                                                  FIDELITY VIP MID CAP                      
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INVESTMENT INCOME:                                                                                                          
      Dividends.............................................. $            2,865    $              150    $              502
                                                              ------------------    ------------------    ------------------
EXPENSES:                                                                                                                   
      Mortality and expense risk charges.....................                 --                    --                    --
                                                              ------------------    ------------------    ------------------
          Net investment income (loss).......................              2,865                   150                   502
                                                              ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                       
   ON INVESTMENTS:                                                                                                          
      Realized gain distributions............................             59,448                 1,181                 1,027
      Realized gains (losses) on sale of investments.........              8,193                10,846                 2,077
                                                              ------------------    ------------------    ------------------
          Net realized gains (losses)........................             67,641                12,027                 3,104
                                                              ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....             20,392              (60,535)                83,723
                                                              ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                 
        on investments.......................................             88,033              (48,508)                86,827
                                                              ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                       
        from operations...................................... $           90,898    $         (48,358)    $           87,329
                                                              ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                         FTVIPT MUTUAL GLOBAL DISCOVERY SECURITIES           
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                      2012                  2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $            21,682    $           22,691    $           10,103
                                                              -------------------    ------------------    ------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                  --                    --                    --
                                                              -------------------    ------------------    ------------------
          Net investment income (loss).......................              21,682                22,691                10,103
                                                              -------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................              43,771                22,139                    --
      Realized gains (losses) on sale of investments.........               5,837              (20,210)               (4,189)
                                                              -------------------    ------------------    ------------------
          Net realized gains (losses)........................              49,608                 1,929               (4,189)
                                                              -------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....              33,439              (59,670)                81,592
                                                              -------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................              83,047              (57,741)                77,403
                                                              -------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $           104,729    $         (35,050)    $           87,506
                                                              ===================    ==================    ==================



                                                                           FTVIPT TEMPLETON FOREIGN SECURITIES               
                                                                                   INVESTMENT DIVISION                       
                                                              ---------------------------------------------------------------
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    -------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $          115,174    $           89,150    $           164,170
                                                              ------------------    ------------------    -------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                 --                    --                     --
                                                              ------------------    ------------------    -------------------
          Net investment income (loss).......................            115,174                89,150                164,170
                                                              ------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                 --                    --                     --
      Realized gains (losses) on sale of investments.........           (16,852)               253,750               (50,450)
                                                              ------------------    ------------------    -------------------
          Net realized gains (losses)........................           (16,852)               253,750               (50,450)
                                                              ------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments.....            501,451             (552,735)                614,425
                                                              ------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................            484,599             (298,985)                563,975
                                                              ------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $          599,773    $        (209,835)    $           728,145
                                                              ==================    ==================    ===================



                                                                         FTVIPT TEMPLETON GLOBAL BOND SECURITIES             
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $           24,244    $           10,824    $               60 
                                                              ------------------    ------------------    ------------------ 
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                 --                    --                    -- 
                                                              ------------------    ------------------    ------------------ 
          Net investment income (loss).......................             24,244                10,824                    60 
                                                              ------------------    ------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                590                 1,216                    10 
      Realized gains (losses) on sale of investments.........              (238)              (12,515)                 4,591 
                                                              ------------------    ------------------    ------------------ 
          Net realized gains (losses)........................                352              (11,299)                 4,601 
                                                              ------------------    ------------------    ------------------ 
      Change in unrealized gains (losses) on investments.....             26,566              (11,949)                 (171) 
                                                              ------------------    ------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................             26,918              (23,248)                 4,430 
                                                              ------------------    ------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $           51,162    $         (12,424)    $            4,490 
                                                              ==================    ==================    ================== 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                              GOLDMAN SACHS MID-CAP VALUE                  
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $            2,932    $            2,221    $            2,264
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                    --
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................              2,932                 2,221                 2,264
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................                 --                    --                    --
      Realized gains (losses) on sale of investments........              (683)              (27,627)              (13,608)
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................              (683)              (27,627)              (13,608)
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....             45,178                 1,030                84,633
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................             44,495              (26,597)                71,025
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $           47,427    $         (24,376)    $           73,289
                                                             ==================    ==================    ==================



                                                                       GOLDMAN SACHS STRUCTURED SMALL CAP EQUITY           
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $              308    $              424    $              254
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                    --
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................                308                   424                   254
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................                 --                    --                    --
      Realized gains (losses) on sale of investments........              5,427                   175               (7,335)
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................              5,427                   175               (7,335)
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....              (629)                 (255)                18,632
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................              4,798                  (80)                11,297
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $            5,106    $              344    $           11,551
                                                             ==================    ==================    ==================



                                                                            INVESCO V.I. GLOBAL REAL ESTATE                
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                 2010        
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $           10,832    $           72,431    $           71,976
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                    --
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................             10,832                72,431                71,976
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................                 --                    --                    --
      Realized gains (losses) on sale of investments........           (24,321)             (158,339)             (130,047)
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................           (24,321)             (158,339)             (130,047)
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....            481,388              (44,519)               289,353
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................            457,067             (202,858)               159,306
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $          467,899    $        (130,427)    $          231,282
                                                             ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                      INVESCO V.I. GOVERNMENT SECURITIES                            
                                                                              INVESTMENT DIVISION                                   
                                                                   -----------------------------------------                        
                                                                          2012                 2011 (d)                             
                                                                   ------------------    -------------------                        
                                                                                                                                    
INVESTMENT INCOME:                                                                                                                  
      Dividends..................................................  $               --    $                --                        
                                                                   ------------------    -------------------                        
EXPENSES:                                                                                                                           
      Mortality and expense risk charges.........................                  --                     --                        
                                                                   ------------------    -------------------                        
          Net investment income (loss)...........................                  --                     --                        
                                                                   ------------------    -------------------                        
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES) ON INVESTMENTS:                                                               
      Realized gain distributions................................                  --                     --                        
      Realized gains (losses) on sale of investments.............               1,308                  1,389                        
                                                                   ------------------    -------------------                        
          Net realized gains (losses)............................               1,308                  1,389                        
                                                                   ------------------    -------------------                        
      Change in unrealized gains (losses) on investments.........             (1,335)                  1,336                        
                                                                   ------------------    -------------------                        
      Net realized and changes in unrealized gains (losses) on                                                                      
       investments...............................................                (27)                  2,725                        
                                                                   ------------------    -------------------                        
      Net increase (decrease) in net assets resulting from                                                                          
       operations................................................  $             (27)    $             2,725                        
                                                                   ==================    ===================                        



                                                                                  INVESCO V.I. INTERNATIONAL GROWTH                 
                                                                                         INVESTMENT DIVISION                        
                                                                   ---------------------------------------------------------------- 
                                                                          2012                   2011                   2010        
                                                                   -------------------    ------------------    ------------------- 
                                                                                                                                    
INVESTMENT INCOME:                                                                                                                  
      Dividends..................................................  $            90,329    $            3,660    $             4,364 
                                                                   -------------------    ------------------    ------------------- 
EXPENSES:                                                                                                                           
      Mortality and expense risk charges.........................                   --                    --                     -- 
                                                                   -------------------    ------------------    ------------------- 
          Net investment income (loss)...........................               90,329                 3,660                  4,364 
                                                                   -------------------    ------------------    ------------------- 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES) ON INVESTMENTS:                                                               
      Realized gain distributions................................                   --                    --                     -- 
      Realized gains (losses) on sale of investments.............               18,589                 3,888                  1,465 
                                                                   -------------------    ------------------    ------------------- 
          Net realized gains (losses)............................               18,589                 3,888                  1,465 
                                                                   -------------------    ------------------    ------------------- 
      Change in unrealized gains (losses) on investments.........              685,032              (28,330)                 26,537 
                                                                   -------------------    ------------------    ------------------- 
      Net realized and changes in unrealized gains (losses) on                                                                      
       investments...............................................              703,621              (24,442)                 28,002 
                                                                   -------------------    ------------------    ------------------- 
      Net increase (decrease) in net assets resulting from                                                                          
       operations................................................  $           793,950    $         (20,782)    $            32,366 
                                                                   ===================    ==================    =================== 



                                                                                  INVESCO V.I. VAN KAMPEN COMSTOCK                  
                                                                                         INVESTMENT DIVISION                        
                                                                   -----------------------------------------------------------------
                                                                           2012                  2011                 2010 (e)      
                                                                   -------------------    -------------------    -------------------
                                                                                                                                    
INVESTMENT INCOME:                                                                                                                  
      Dividends..................................................  $             3,483    $               489                       
                                                                   -------------------    -------------------    -------------------
EXPENSES:                                                                                                                           
      Mortality and expense risk charges.........................                   --                     --                     --
                                                                   -------------------    -------------------    -------------------
          Net investment income (loss)...........................                3,483                    489                     --
                                                                   -------------------    -------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES) ON INVESTMENTS:                                                               
      Realized gain distributions................................                   --                     --                     --
      Realized gains (losses) on sale of investments.............                1,338                  (127)                     53
                                                                   -------------------    -------------------    -------------------
          Net realized gains (losses)............................                1,338                  (127)                     53
                                                                   -------------------    -------------------    -------------------
      Change in unrealized gains (losses) on investments.........               32,459                (6,181)                     45
                                                                   -------------------    -------------------    -------------------
      Net realized and changes in unrealized gains (losses) on                                                                      
       investments...............................................               33,797                (6,308)                     98
                                                                   -------------------    -------------------    -------------------
      Net increase (decrease) in net assets resulting from                                                                          
       operations................................................  $            37,280    $           (5,819)    $                98
                                                                   ===================    ===================    ===================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                JANUS ASPEN BALANCED                     
                                                                                 INVESTMENT DIVISION                     
                                                            -------------------------------------------------------------
                                                                   2012                  2011                 2010       
                                                            ------------------    -----------------    ------------------
                                                                                                                         
INVESTMENT INCOME:                                                                                                       
     Dividends............................................. $           27,163    $          44,376    $           54,166
                                                            ------------------    -----------------    ------------------
EXPENSES:                                                                                                                
     Mortality and expense risk charges....................                 --                   --                    --
                                                            ------------------    -----------------    ------------------
          Net investment income (loss).....................             27,163               44,376                54,166
                                                            ------------------    -----------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                    
   ON INVESTMENTS:                                                                                                       
     Realized gain distributions...........................             74,896              108,835                    --
     Realized gains (losses) on sale of investments........             40,351               29,077                26,581
                                                            ------------------    -----------------    ------------------
          Net realized gains (losses)......................            115,247              137,912                26,581
                                                            ------------------    -----------------    ------------------
     Change in unrealized gains (losses) on investments....             25,664            (161,867)                90,252
                                                            ------------------    -----------------    ------------------
     Net realized and changes in unrealized gains (losses)                                                               
        on investments.....................................            140,911             (23,955)               116,833
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
        from operations.................................... $          168,074    $          20,421    $          170,999
                                                            ==================    =================    ==================



                                                                                  JANUS ASPEN FORTY                      
                                                                                 INVESTMENT DIVISION                     
                                                            -------------------------------------------------------------
                                                                   2012                  2011                 2010       
                                                            ------------------    ------------------    -----------------
                                                                                                                         
INVESTMENT INCOME:                                                                                                       
     Dividends............................................. $            5,152    $            2,325    $           2,433
                                                            ------------------    ------------------    -----------------
EXPENSES:                                                                                                                
     Mortality and expense risk charges....................                 --                    --                   --
                                                            ------------------    ------------------    -----------------
          Net investment income (loss).....................              5,152                 2,325                2,433
                                                            ------------------    ------------------    -----------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                    
   ON INVESTMENTS:                                                                                                       
     Realized gain distributions...........................                 --                    --                   --
     Realized gains (losses) on sale of investments........             38,660                43,353               14,051
                                                            ------------------    ------------------    -----------------
          Net realized gains (losses)......................             38,660                43,353               14,051
                                                            ------------------    ------------------    -----------------
     Change in unrealized gains (losses) on investments....            126,343             (117,114)               47,707
                                                            ------------------    ------------------    -----------------
     Net realized and changes in unrealized gains (losses)                                                               
        on investments.....................................            165,003              (73,761)               61,758
                                                            ------------------    ------------------    -----------------
     Net increase (decrease) in net assets resulting                                                                     
        from operations.................................... $          170,155    $         (71,436)    $          64,191
                                                            ==================    ==================    =================



                                                                                  JANUS ASPEN JANUS                      
                                                                                 INVESTMENT DIVISION                     
                                                            -------------------------------------------------------------
                                                                   2012                  2011                 2010       
                                                            ------------------    -----------------    ------------------
                                                                                                                         
INVESTMENT INCOME:                                                                                                       
     Dividends............................................. $            5,213    $           5,397    $           73,809
                                                            ------------------    -----------------    ------------------
EXPENSES:                                                                                                                
     Mortality and expense risk charges....................                 --                   --                    --
                                                            ------------------    -----------------    ------------------
          Net investment income (loss).....................              5,213                5,397                73,809
                                                            ------------------    -----------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                    
   ON INVESTMENTS:                                                                                                       
     Realized gain distributions...........................             15,799                   --                    --
     Realized gains (losses) on sale of investments........             13,270            1,561,413                52,158
                                                            ------------------    -----------------    ------------------
          Net realized gains (losses)......................             29,069            1,561,413                52,158
                                                            ------------------    -----------------    ------------------
     Change in unrealized gains (losses) on investments....            122,884          (1,416,036)               848,330
                                                            ------------------    -----------------    ------------------
     Net realized and changes in unrealized gains (losses)                                                               
        on investments.....................................            151,953              145,377               900,488
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
        from operations.................................... $          157,166    $         150,774    $          974,297
                                                            ==================    =================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                 JANUS ASPEN OVERSEAS                      
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $            2,519    $            1,291    $            1,609
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                    --
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................              2,519                 1,291                 1,609
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................             43,521                 3,396                    --
      Realized gains (losses) on sale of investments........            (7,156)              (93,767)                 4,218
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................             36,365              (90,371)                 4,218
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....              8,927             (214,175)                62,994
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................             45,292             (304,546)                67,212
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $           47,811    $        (303,255)    $           68,821
                                                             ==================    ==================    ==================



                                                                                 MFS VIT GLOBAL EQUITY                     
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $               61    $              575    $            1,232
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                    --
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................                 61                   575                 1,232
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................                154                    --                    --
      Realized gains (losses) on sale of investments........                274                12,787                   183
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................                428                12,787                   183
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....              6,795              (16,173)                19,523
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................              7,223               (3,386)                19,706
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $            7,284    $          (2,811)    $           20,938
                                                             ==================    ==================    ==================



                                                                                  MFS VIT HIGH INCOME                      
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $           10,779    $           12,069    $            8,657
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                    --
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................             10,779                12,069                 8,657
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................                 --                    --                    --
      Realized gains (losses) on sale of investments........              2,215                   361                   680
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................              2,215                   361                   680
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....              6,400               (7,343)                 7,331
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................              8,615               (6,982)                 8,011
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $           19,394    $            5,087    $           16,668
                                                             ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                       MFS VIT NEW DISCOVERY                 
                                                                                        INVESTMENT DIVISION                  
                                                                       ------------------------------------------------------
                                                                             2012               2011               2010      
                                                                       ----------------   ----------------   ----------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends....................................................... $             --   $             --   $             --
                                                                       ----------------   ----------------   ----------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges..............................               --                 --                 --
                                                                       ----------------   ----------------   ----------------
          Net investment income (loss)................................               --                 --                 --
                                                                       ----------------   ----------------   ----------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions.....................................           15,912             17,326                 --
      Realized gains (losses) on sale of investments..................              264                772                544
                                                                       ----------------   ----------------   ----------------
          Net realized gains (losses).................................           16,176             18,098                544
                                                                       ----------------   ----------------   ----------------
      Change in unrealized gains (losses) on investments..............           11,186           (32,906)             28,843
                                                                       ----------------   ----------------   ----------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments................................................           27,362           (14,808)             29,387
                                                                       ----------------   ----------------   ----------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations............................................... $         27,362   $       (14,808)   $         29,387
                                                                       ================   ================   ================



                                                                                          MFS VIT VALUE                      
                                                                                       INVESTMENT DIVISION                   
                                                                       ------------------------------------------------------
                                                                             2012              2011                2010      
                                                                       ----------------   ----------------   ----------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends....................................................... $           668    $           999    $            969
                                                                       ----------------   ----------------   ----------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges..............................              --                 --                  --
                                                                       ----------------   ----------------   ----------------
          Net investment income (loss)................................             668                999                 969
                                                                       ----------------   ----------------   ----------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions.....................................             355                318                  --
      Realized gains (losses) on sale of investments..................           3,188           (10,004)               (552)
                                                                       ----------------   ----------------   ----------------
          Net realized gains (losses).................................           3,543            (9,686)               (552)
                                                                       ----------------   ----------------   ----------------
      Change in unrealized gains (losses) on investments..............           2,241              6,173               7,585
                                                                       ----------------   ----------------   ----------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments................................................           5,784            (3,513)               7,033
                                                                       ----------------   ----------------   ----------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations............................................... $         6,452    $       (2,514)    $          8,002
                                                                       ================   ================   ================



                                                                              MIST                                           
                                                                        ALLIANCEBERNSTEIN                                    
                                                                         GLOBAL DYNAMIC                                      
                                                                           ALLOCATION                                        
                                                                       INVESTMENT DIVISION                                   
                                                                       -------------------                                   
                                                                            2012 (f)                                         
                                                                       -------------------                                   
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.......................................................  $             --                                     
                                                                       -------------------                                   
EXPENSES:                                                                                                                    
      Mortality and expense risk charges..............................                --                                     
                                                                       -------------------                                   
          Net investment income (loss)................................                --                                     
                                                                       -------------------                                   
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions.....................................                --                                     
      Realized gains (losses) on sale of investments..................                --                                     
                                                                       -------------------                                   
          Net realized gains (losses).................................                --                                     
                                                                       -------------------                                   
      Change in unrealized gains (losses) on investments..............               163                                     
                                                                       -------------------                                   
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments................................................               163                                     
                                                                       -------------------                                   
      Net increase (decrease) in net assets resulting                                                                        
        from operations...............................................  $            163                                     
                                                                       ===================                                   



                                                                              MIST AMERICAN FUNDS BALANCED ALLOCATION        
                                                                                        INVESTMENT DIVISION                  
                                                                       ------------------------------------------------------
                                                                             2012               2011               2010      
                                                                       ----------------   ----------------   ----------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends....................................................... $         10,680   $          6,635   $          3,146
                                                                       ----------------   ----------------   ----------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges..............................               --                 --                 --
                                                                       ----------------   ----------------   ----------------
          Net investment income (loss)................................           10,680              6,635              3,146
                                                                       ----------------   ----------------   ----------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions.....................................            5,437                248                117
      Realized gains (losses) on sale of investments..................            3,875              6,046              1,705
                                                                       ----------------   ----------------   ----------------
          Net realized gains (losses).................................            9,312              6,294              1,822
                                                                       ----------------   ----------------   ----------------
      Change in unrealized gains (losses) on investments..............           50,640           (23,258)             26,193
                                                                       ----------------   ----------------   ----------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments................................................           59,952           (16,964)             28,015
                                                                       ----------------   ----------------   ----------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations............................................... $         70,632   $       (10,329)   $         31,161
                                                                       ================   ================   ================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                         MIST AMERICAN FUNDS GROWTH ALLOCATION             
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $           13,384    $           10,815    $            2,434
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                    --
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................             13,384                10,815                 2,434
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................                 --                    --                    --
      Realized gains (losses) on sale of investments........             16,384                 9,254                 5,990
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................             16,384                 9,254                 5,990
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....             96,877              (58,738)                79,550
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................            113,261              (49,484)                85,540
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $          126,645    $         (38,669)    $           87,974
                                                             ==================    ==================    ==================



                                                                        MIST AMERICAN FUNDS MODERATE ALLOCATION            
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $           10,434    $            5,453    $            2,501
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                    --
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................             10,434                 5,453                 2,501
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................              5,798                 1,467                    --
      Realized gains (losses) on sale of investments........              5,301                 1,917                   646
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................             11,099                 3,384                   646
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....             29,635               (7,233)                16,902
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................             40,734               (3,849)                17,548
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $           51,168    $            1,604    $           20,049
                                                             ==================    ==================    ==================



                                                                    MIST           MIST BLACKROCK                          
                                                                 AQR GLOBAL        GLOBAL TACTICAL                         
                                                                RISK BALANCED        STRATEGIES                            
                                                             INVESTMENT DIVISION INVESTMENT DIVISION                       
                                                             ------------------- -------------------                       
                                                                  2012 (f)            2012 (f)                             
                                                             ------------------- -------------------                       
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $               --  $               --                        
                                                             ------------------- -------------------                       
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                  --                        
                                                             ------------------- -------------------                       
          Net investment income (loss)......................                 --                  --                        
                                                             ------------------- -------------------                       
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................                 --                  --                        
      Realized gains (losses) on sale of investments........               (28)                  51                        
                                                             ------------------- -------------------                       
          Net realized gains (losses).......................               (28)                  51                        
                                                             ------------------- -------------------                       
      Change in unrealized gains (losses) on investments....                375                 878                        
                                                             ------------------- -------------------                       
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................                347                 929                        
                                                             ------------------- -------------------                       
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $              347  $              929                        
                                                             =================== ===================                       

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                MIST BLACKROCK LARGE CAP CORE                  
                                                                                     INVESTMENT DIVISION                       
                                                               ----------------------------------------------------------------
                                                                      2012                   2011                  2010        
                                                               -------------------    ------------------    -------------------
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $         3,715,688    $        3,462,386    $         3,848,840
                                                               -------------------    ------------------    -------------------
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................           1,609,817             1,619,434              1,530,546
                                                               -------------------    ------------------    -------------------
          Net investment income (loss)........................           2,105,871             1,842,952              2,318,294
                                                               -------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                  --                    --                     --
      Realized gains (losses) on sale of investments..........         (3,353,915)           (4,542,808)            (7,248,214)
                                                               -------------------    ------------------    -------------------
          Net realized gains (losses).........................         (3,353,915)           (4,542,808)            (7,248,214)
                                                               -------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments......          38,395,441             3,050,880             38,497,976
                                                               -------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................          35,041,526           (1,491,928)             31,249,762
                                                               -------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $        37,147,397    $          351,024    $        33,568,056
                                                               ===================    ==================    ===================



                                                                               MIST CLARION GLOBAL REAL ESTATE                 
                                                                                     INVESTMENT DIVISION                       
                                                               ----------------------------------------------------------------
                                                                      2012                   2011                   2010       
                                                               -------------------    ------------------    -------------------
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $           496,469    $          847,944    $         1,558,222
                                                               -------------------    ------------------    -------------------
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................              26,819                25,697                 24,584
                                                               -------------------    ------------------    -------------------
          Net investment income (loss)........................             469,650               822,247              1,533,638
                                                               -------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                  --                    --                     --
      Realized gains (losses) on sale of investments..........           (282,095)             (421,589)              (571,095)
                                                               -------------------    ------------------    -------------------
          Net realized gains (losses).........................           (282,095)             (421,589)              (571,095)
                                                               -------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments......           4,988,577           (1,500,208)              1,969,823
                                                               -------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................           4,706,482           (1,921,797)              1,398,728
                                                               -------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $         5,176,132    $      (1,099,550)    $         2,932,366
                                                               ===================    ==================    ===================



                                                                                 MIST DREMAN SMALL CAP VALUE                   
                                                                                     INVESTMENT DIVISION                       
                                                               --------------------------------------------------------------- 
                                                                      2012                   2011                  2010        
                                                               ------------------    -------------------    ------------------ 
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $              358    $               472    $              172 
                                                               ------------------    -------------------    ------------------ 
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................                 --                     --                    -- 
                                                               ------------------    -------------------    ------------------ 
          Net investment income (loss)........................                358                    472                   172 
                                                               ------------------    -------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                 --                     --                    -- 
      Realized gains (losses) on sale of investments..........              3,130                  1,124                   403 
                                                               ------------------    -------------------    ------------------ 
          Net realized gains (losses).........................              3,130                  1,124                   403 
                                                               ------------------    -------------------    ------------------ 
      Change in unrealized gains (losses) on investments......              1,696                (4,058)                 3,392 
                                                               ------------------    -------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................              4,826                (2,934)                 3,795 
                                                               ------------------    -------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $            5,184    $           (2,462)    $            3,967 
                                                               ==================    ===================    ================== 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                  MIST HARRIS OAKMARK INTERNATIONAL            
                                                                                         INVESTMENT DIVISION                   
                                                                        -------------------------------------------------------
                                                                              2012               2011                2010      
                                                                        ----------------   ----------------    ----------------
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends........................................................ $        542,318   $          8,423    $        576,287
                                                                        ----------------   ----------------    ----------------
EXPENSES:                                                                                                                      
      Mortality and expense risk charges...............................           44,596             46,783              44,461
                                                                        ----------------   ----------------    ----------------
          Net investment income (loss).................................          497,722           (38,360)             531,826
                                                                        ----------------   ----------------    ----------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions......................................               --                 --                  --
      Realized gains (losses) on sale of investments...................        (140,345)          (114,036)           (312,283)
                                                                        ----------------   ----------------    ----------------
          Net realized gains (losses)..................................        (140,345)          (114,036)           (312,283)
                                                                        ----------------   ----------------    ----------------
      Change in unrealized gains (losses) on investments...............        7,474,599        (4,256,535)           4,235,035
                                                                        ----------------   ----------------    ----------------
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments.................................................        7,334,254        (4,370,571)           3,922,752
                                                                        ----------------   ----------------    ----------------
      Net increase (decrease) in net assets resulting                                                                          
        from operations................................................ $      7,831,976   $    (4,408,931)    $      4,454,578
                                                                        ================   ================    ================



                                                                           MIST INVESCO                                        
                                                                           BALANCED-RISK                                       
                                                                            ALLOCATION                                         
                                                                        INVESTMENT DIVISION                                    
                                                                        -------------------                                    
                                                                             2012 (f)                                          
                                                                        -------------------                                    
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends........................................................  $             23                                      
                                                                        -------------------                                    
EXPENSES:                                                                                                                      
      Mortality and expense risk charges...............................                --                                      
                                                                        -------------------                                    
          Net investment income (loss).................................                23                                      
                                                                        -------------------                                    
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions......................................                83                                      
      Realized gains (losses) on sale of investments...................                --                                      
                                                                        -------------------                                    
          Net realized gains (losses)..................................                83                                      
                                                                        -------------------                                    
      Change in unrealized gains (losses) on investments...............               (2)                                      
                                                                        -------------------                                    
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments.................................................                81                                      
                                                                        -------------------                                    
      Net increase (decrease) in net assets resulting                                                                          
        from operations................................................  $            104                                      
                                                                        ===================                                    



                                                                                    MIST INVESCO SMALL CAP GROWTH              
                                                                                         INVESTMENT DIVISION                   
                                                                        -------------------------------------------------------
                                                                              2012               2011                2010      
                                                                        ----------------   ----------------    ----------------
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends........................................................ $             --   $             --                    
                                                                        ----------------   ----------------    ----------------
EXPENSES:                                                                                                                      
      Mortality and expense risk charges...............................            5,823              5,378               4,411
                                                                        ----------------   ----------------    ----------------
          Net investment income (loss).................................          (5,823)            (5,378)             (4,411)
                                                                        ----------------   ----------------    ----------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions......................................          273,441                 --                  --
      Realized gains (losses) on sale of investments...................          154,730            169,309            (15,371)
                                                                        ----------------   ----------------    ----------------
          Net realized gains (losses)..................................          428,171            169,309            (15,371)
                                                                        ----------------   ----------------    ----------------
      Change in unrealized gains (losses) on investments...............          331,488          (192,641)             887,599
                                                                        ----------------   ----------------    ----------------
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments.................................................          759,659           (23,332)             872,228
                                                                        ----------------   ----------------    ----------------
      Net increase (decrease) in net assets resulting                                                                          
        from operations................................................ $        753,836   $       (28,710)    $        867,817
                                                                        ================   ================    ================



                                                                                          MIST JANUS FORTY                     
                                                                                         INVESTMENT DIVISION                   
                                                                        -------------------------------------------------------
                                                                              2012               2011                2010      
                                                                        ----------------   ----------------    ----------------
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends........................................................ $         62,437   $        249,768    $        219,796
                                                                        ----------------   ----------------    ----------------
EXPENSES:                                                                                                                      
      Mortality and expense risk charges...............................           18,962             18,401              17,488
                                                                        ----------------   ----------------    ----------------
          Net investment income (loss).................................           43,475            231,367             202,308
                                                                        ----------------   ----------------    ----------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions......................................               --                 --                  --
      Realized gains (losses) on sale of investments...................          176,627              2,199            (41,591)
                                                                        ----------------   ----------------    ----------------
          Net realized gains (losses)..................................          176,627              2,199            (41,591)
                                                                        ----------------   ----------------    ----------------
      Change in unrealized gains (losses) on investments...............        2,618,525        (1,278,619)           1,120,682
                                                                        ----------------   ----------------    ----------------
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments.................................................        2,795,152        (1,276,420)           1,079,091
                                                                        ----------------   ----------------    ----------------
      Net increase (decrease) in net assets resulting                                                                          
        from operations................................................ $      2,838,627   $    (1,045,053)    $      1,281,399
                                                                        ================   ================    ================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                              MIST JPMORGAN                                                                     
                                              GLOBAL ACTIVE                                                                     
                                               ALLOCATION                MIST LEGG MASON CLEARBRIDGE AGGRESSIVE GROWTH          
                                           INVESTMENT DIVISION                        INVESTMENT DIVISION                       
                                           -------------------   ---------------------------------------------------------------
                                                2012 (f)                2012                  2011                  2010        
                                           -------------------   ------------------    ------------------    -------------------
                                                                                                                                
INVESTMENT INCOME:                                                                                                              
      Dividends..........................  $                68   $           28,628    $            8,681    $             4,315
                                           -------------------   ------------------    ------------------    -------------------
EXPENSES:                                                                                                                       
      Mortality and expense risk charges.                   --                8,213                 6,297                  3,923
                                           -------------------   ------------------    ------------------    -------------------
          Net investment income (loss)...                   68               20,415                 2,384                    392
                                           -------------------   ------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN                                                                                                     
   UNREALIZED GAINS (LOSSES) ON                                                                                                 
   INVESTMENTS:                                                                                                                 
      Realized gain distributions........                  117                   --                    --                     --
      Realized gains (losses) on sale of                                                                                        
        investments......................                 (10)              171,678                93,448               (57,251)
                                           -------------------   ------------------    ------------------    -------------------
          Net realized gains (losses)....                  107              171,678                93,448               (57,251)
                                           -------------------   ------------------    ------------------    -------------------
      Change in unrealized gains (losses)                                                                                       
        on investments...................                  152            2,107,124             (217,464)              1,583,027
                                           -------------------   ------------------    ------------------    -------------------
      Net realized and changes in                                                                                               
        unrealized gains (losses) on                                                                                            
        investments......................                  259            2,278,802             (124,016)              1,525,776
                                           -------------------   ------------------    ------------------    -------------------
      Net increase (decrease) in net                                                                                            
        assets resulting from operations.  $               327   $        2,299,217    $        (121,632)    $         1,526,168
                                           ===================   ==================    ==================    ===================



                                                           MIST LORD ABBETT BOND DEBENTURE                                      
                                                                 INVESTMENT DIVISION                                            
                                           ---------------------------------------------------------------                      
                                                  2012                   2011                  2010                             
                                           -------------------    ------------------    ------------------                      
                                                                                                                                
INVESTMENT INCOME:                                                                                                              
      Dividends..........................  $         1,984,542    $        1,568,618    $        1,718,530                      
                                           -------------------    ------------------    ------------------                      
EXPENSES:                                                                                                                       
      Mortality and expense risk charges.               61,482                59,503                58,096                      
                                           -------------------    ------------------    ------------------                      
          Net investment income (loss)...            1,923,060             1,509,115             1,660,434                      
                                           -------------------    ------------------    ------------------                      
NET REALIZED AND CHANGES IN                                                                                                     
   UNREALIZED GAINS (LOSSES) ON                                                                                                 
   INVESTMENTS:                                                                                                                 
      Realized gain distributions........                   --                    --                    --                      
      Realized gains (losses) on sale of                                                                                        
        investments......................              218,347               583,376               240,525                      
                                           -------------------    ------------------    ------------------                      
          Net realized gains (losses)....              218,347               583,376               240,525                      
                                           -------------------    ------------------    ------------------                      
      Change in unrealized gains (losses)                                                                                       
        on investments...................            1,167,280             (863,576)             1,315,427                      
                                           -------------------    ------------------    ------------------                      
      Net realized and changes in                                                                                               
        unrealized gains (losses) on                                                                                            
        investments......................            1,385,627             (280,200)             1,555,952                      
                                           -------------------    ------------------    ------------------                      
      Net increase (decrease) in net                                                                                            
        assets resulting from operations.  $         3,308,687    $        1,228,915    $        3,216,386                      
                                           ===================    ==================    ==================                      



                                                           MIST LORD ABBETT MID CAP VALUE                                       
                                                                 INVESTMENT DIVISION                                            
                                           ---------------------------------------------------------------                      
                                                   2012                  2011                  2010                             
                                           -------------------    ------------------    ------------------                      
                                                                                                                                
INVESTMENT INCOME:                                                                                                              
      Dividends..........................  $               457    $              603    $              568                      
                                           -------------------    ------------------    ------------------                      
EXPENSES:                                                                                                                       
      Mortality and expense risk charges.               49,296                    --                    --                      
                                           -------------------    ------------------    ------------------                      
          Net investment income (loss)...             (48,839)                   603                   568                      
                                           -------------------    ------------------    ------------------                      
NET REALIZED AND CHANGES IN                                                                                                     
   UNREALIZED GAINS (LOSSES) ON                                                                                                 
   INVESTMENTS:                                                                                                                 
      Realized gain distributions........                   --                    --                    --                      
      Realized gains (losses) on sale of                                                                                        
        investments......................             (82,924)                   818                 3,236                      
                                           -------------------    ------------------    ------------------                      
          Net realized gains (losses)....             (82,924)                   818                 3,236                      
                                           -------------------    ------------------    ------------------                      
      Change in unrealized gains (losses)                                                                                       
        on investments...................            2,481,449               (5,510)                19,769                      
                                           -------------------    ------------------    ------------------                      
      Net realized and changes in                                                                                               
        unrealized gains (losses) on                                                                                            
        investments......................            2,398,525               (4,692)                23,005                      
                                           -------------------    ------------------    ------------------                      
      Net increase (decrease) in net                                                                                            
        assets resulting from operations.  $         2,349,686    $          (4,089)    $           23,573                      
                                           ===================    ==================    ==================                      

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                 MIST MET/FRANKLIN INCOME                    
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                      2012                  2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $            13,809    $            8,323    $            3,216
                                                              -------------------    ------------------    ------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                  --                    --                    --
                                                              -------------------    ------------------    ------------------
          Net investment income (loss).......................              13,809                 8,323                 3,216
                                                              -------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................               5,724                 5,005                   433
      Realized gains (losses) on sale of investments.........                 414                   700                   390
                                                              -------------------    ------------------    ------------------
          Net realized gains (losses)........................               6,138                 5,705                   823
                                                              -------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....              16,385               (8,507)                10,272
                                                              -------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................              22,523               (2,802)                11,095
                                                              -------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $            36,332    $            5,521    $           14,311
                                                              ===================    ==================    ==================



                                                                             MIST MET/FRANKLIN MUTUAL SHARES                 
                                                                                   INVESTMENT DIVISION                       
                                                              ---------------------------------------------------------------
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    -------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $              766    $            1,982    $                --
                                                              ------------------    ------------------    -------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                 --                    --                     --
                                                              ------------------    ------------------    -------------------
          Net investment income (loss).......................                766                 1,982                     --
                                                              ------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................             16,722                 3,716                    577
      Realized gains (losses) on sale of investments.........              (414)                   386                    106
                                                              ------------------    ------------------    -------------------
          Net realized gains (losses)........................             16,308                 4,102                    683
                                                              ------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments.....            (3,910)               (6,478)                  4,077
                                                              ------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................             12,398               (2,376)                  4,760
                                                              ------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $           13,164    $            (394)    $             4,760
                                                              ==================    ==================    ===================



                                                                      MIST MET/FRANKLIN TEMPLETON FOUNDING STRATEGY          
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $           12,419    $            5,031    $               -- 
                                                              ------------------    ------------------    ------------------ 
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                 --                    --                    -- 
                                                              ------------------    ------------------    ------------------ 
          Net investment income (loss).......................             12,419                 5,031                    -- 
                                                              ------------------    ------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................              4,799                   255                     1 
      Realized gains (losses) on sale of investments.........              3,522                 2,035                 1,545 
                                                              ------------------    ------------------    ------------------ 
          Net realized gains (losses)........................              8,321                 2,290                 1,546 
                                                              ------------------    ------------------    ------------------ 
      Change in unrealized gains (losses) on investments.....             24,847              (10,599)                23,230 
                                                              ------------------    ------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................             33,168               (8,309)                24,776 
                                                              ------------------    ------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $           45,587    $          (3,278)    $           24,776 
                                                              ==================    ==================    ================== 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                    MIST MET/TEMPLETON GROWTH                    
                                                                                       INVESTMENT DIVISION                       
                                                                -----------------------------------------------------------------
                                                                        2012                   2011                   2010       
                                                                -------------------    -------------------    -------------------
                                                                                                                                 
INVESTMENT INCOME:                                                                                                               
      Dividends................................................ $               964    $               792    $               305
                                                                -------------------    -------------------    -------------------
EXPENSES:                                                                                                                        
      Mortality and expense risk charges.......................                  --                     --                     --
                                                                -------------------    -------------------    -------------------
          Net investment income (loss).........................                 964                    792                    305
                                                                -------------------    -------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                            
   ON INVESTMENTS:                                                                                                               
      Realized gain distributions..............................               1,985                     --                     --
      Realized gains (losses) on sale of investments...........               1,619                    371                    125
                                                                -------------------    -------------------    -------------------
          Net realized gains (losses)..........................               3,604                    371                    125
                                                                -------------------    -------------------    -------------------
      Change in unrealized gains (losses) on investments.......               8,197                (5,463)                  3,904
                                                                -------------------    -------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                      
        on investments.........................................              11,801                (5,092)                  4,029
                                                                -------------------    -------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                            
        from operations........................................ $            12,765    $           (4,300)    $             4,334
                                                                ===================    ===================    ===================



                                                                MIST MET/TEMPLETON                                               
                                                                INTERNATIONAL BOND        MIST METLIFE AGGRESSIVE STRATEGY       
                                                                INVESTMENT DIVISION              INVESTMENT DIVISION             
                                                                -------------------   ------------------------------------------ 
                                                                     2012 (f)                2012                 2011 (d)       
                                                                -------------------   -------------------    ------------------- 
                                                                                                                                 
INVESTMENT INCOME:                                                                                                               
      Dividends................................................ $                --   $           118,210    $                -- 
                                                                -------------------   -------------------    ------------------- 
EXPENSES:                                                                                                                        
      Mortality and expense risk charges.......................                  --                12,011                  8,047 
                                                                -------------------   -------------------    ------------------- 
          Net investment income (loss).........................                  --               106,199                (8,047) 
                                                                -------------------   -------------------    ------------------- 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                            
   ON INVESTMENTS:                                                                                                               
      Realized gain distributions..............................                  --                    --                     -- 
      Realized gains (losses) on sale of investments...........                  21              (55,023)              (117,896) 
                                                                -------------------   -------------------    ------------------- 
          Net realized gains (losses)..........................                  21              (55,023)              (117,896) 
                                                                -------------------   -------------------    ------------------- 
      Change in unrealized gains (losses) on investments.......                  47             2,084,613            (1,834,063) 
                                                                -------------------   -------------------    ------------------- 
      Net realized and changes in unrealized gains (losses)                                                                      
        on investments.........................................                  68             2,029,590            (1,951,959) 
                                                                -------------------   -------------------    ------------------- 
      Net increase (decrease) in net assets resulting                                                                            
        from operations........................................ $                68   $         2,135,789    $       (1,960,006) 
                                                                ===================   ===================    =================== 



                                                                   MIST METLIFE                                                  
                                                                   BALANCED PLUS          MIST MFS EMERGING MARKETS EQUITY       
                                                                INVESTMENT DIVISION              INVESTMENT DIVISION             
                                                                -------------------   ------------------------------------------ 
                                                                     2012 (f)                2012                 2011 (d)       
                                                                -------------------   -------------------    ------------------- 
                                                                                                                                 
INVESTMENT INCOME:                                                                                                               
      Dividends................................................ $                --   $             1,167    $                -- 
                                                                -------------------   -------------------    ------------------- 
EXPENSES:                                                                                                                        
      Mortality and expense risk charges.......................                  --                    --                     -- 
                                                                -------------------   -------------------    ------------------- 
          Net investment income (loss).........................                  --                 1,167                     -- 
                                                                -------------------   -------------------    ------------------- 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                            
   ON INVESTMENTS:                                                                                                               
      Realized gain distributions..............................                  --                    --                     -- 
      Realized gains (losses) on sale of investments...........                 119               (1,470)                   (70) 
                                                                -------------------   -------------------    ------------------- 
          Net realized gains (losses)..........................                 119               (1,470)                   (70) 
                                                                -------------------   -------------------    ------------------- 
      Change in unrealized gains (losses) on investments.......               1,691                 9,361                (3,209) 
                                                                -------------------   -------------------    ------------------- 
      Net realized and changes in unrealized gains (losses)                                                                      
        on investments.........................................               1,810                 7,891                (3,279) 
                                                                -------------------   -------------------    ------------------- 
      Net increase (decrease) in net assets resulting                                                                            
        from operations........................................ $             1,810   $             9,058    $           (3,279) 
                                                                ===================   ===================    =================== 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                               MIST MFS RESEARCH INTERNATIONAL                 
                                                                                     INVESTMENT DIVISION                       
                                                               ----------------------------------------------------------------
                                                                       2012                  2011                  2010        
                                                               -------------------    ------------------    -------------------
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $           282,245    $          285,362    $           240,942
                                                               -------------------    ------------------    -------------------
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................              16,065                17,373                 18,326
                                                               -------------------    ------------------    -------------------
          Net investment income (loss)........................             266,180               267,989                222,616
                                                               -------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                  --                    --                     --
      Realized gains (losses) on sale of investments..........           (345,224)             (233,782)              (545,005)
                                                               -------------------    ------------------    -------------------
          Net realized gains (losses).........................           (345,224)             (233,782)              (545,005)
                                                               -------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments......           2,185,121           (1,480,693)              1,743,808
                                                               -------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................           1,839,897           (1,714,475)              1,198,803
                                                               -------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $         2,106,077    $      (1,446,486)    $         1,421,419
                                                               ===================    ==================    ===================



                                                                                      MIST MLA MID CAP                         
                                                                                     INVESTMENT DIVISION                       
                                                               --------------------------------------------------------------- 
                                                                      2012                   2011                  2010        
                                                               -------------------   -------------------    ------------------ 
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $            33,412   $            51,406    $           51,856 
                                                               -------------------   -------------------    ------------------ 
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................               7,238                 7,973                 7,607 
                                                               -------------------   -------------------    ------------------ 
          Net investment income (loss)........................              26,174                43,433                44,249 
                                                               -------------------   -------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                  --                    --                    -- 
      Realized gains (losses) on sale of investments..........            (28,631)              (15,584)              (93,933) 
                                                               -------------------   -------------------    ------------------ 
          Net realized gains (losses).........................            (28,631)              (15,584)              (93,933) 
                                                               -------------------   -------------------    ------------------ 
      Change in unrealized gains (losses) on investments......             296,637             (320,660)             1,108,654 
                                                               -------------------   -------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................             268,006             (336,244)             1,014,721 
                                                               -------------------   -------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $           294,180   $         (292,811)    $        1,058,970 
                                                               ===================   ===================    ================== 



                                                                             MIST MORGAN STANLEY MID CAP GROWTH                
                                                                                     INVESTMENT DIVISION                       
                                                               --------------------------------------------------------------- 
                                                                      2012                   2011                  2010        
                                                               -------------------   -------------------    ------------------ 
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $                --   $         1,490,199    $               28 
                                                               -------------------   -------------------    ------------------ 
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................             579,825               623,473               375,105 
                                                               -------------------   -------------------    ------------------ 
          Net investment income (loss)........................           (579,825)               866,726             (375,077) 
                                                               -------------------   -------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                  --             5,251,936                    -- 
      Realized gains (losses) on sale of investments..........           1,677,793             2,604,216               336,382 
                                                               -------------------   -------------------    ------------------ 
          Net realized gains (losses).........................           1,677,793             7,856,152               336,382 
                                                               -------------------   -------------------    ------------------ 
      Change in unrealized gains (losses) on investments......          15,368,250          (21,552,444)            31,775,159 
                                                               -------------------   -------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................          17,046,043          (13,696,292)            32,111,541 
                                                               -------------------   -------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $        16,466,218   $      (12,829,566)    $       31,736,464 
                                                               ===================   ===================    ================== 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                            MIST PIMCO INFLATION PROTECTED BOND              
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                      2012                  2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $           395,503    $          165,169    $          210,729
                                                              -------------------    ------------------    ------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................              26,003                18,173                15,399
                                                              -------------------    ------------------    ------------------
          Net investment income (loss).......................             369,500               146,996               195,330
                                                              -------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................             725,803               424,271               220,376
      Realized gains (losses) on sale of investments.........              75,075               100,776                60,903
                                                              -------------------    ------------------    ------------------
          Net realized gains (losses)........................             800,878               525,047               281,279
                                                              -------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....           (101,684)               331,187               130,473
                                                              -------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................             699,194               856,234               411,752
                                                              -------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $         1,068,694    $        1,003,230    $          607,082
                                                              ===================    ==================    ==================



                                                                                 MIST PIMCO TOTAL RETURN                     
                                                                                   INVESTMENT DIVISION                       
                                                              ---------------------------------------------------------------
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    -------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $        1,636,863    $        1,344,247    $         1,634,551
                                                              ------------------    ------------------    -------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................             66,690                62,517                 59,740
                                                              ------------------    ------------------    -------------------
          Net investment income (loss).......................          1,570,173             1,281,730              1,574,811
                                                              ------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                 --             1,446,133                236,060
      Realized gains (losses) on sale of investments.........            347,234               187,988                238,435
                                                              ------------------    ------------------    -------------------
          Net realized gains (losses)........................            347,234             1,634,121                474,495
                                                              ------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments.....          2,519,869           (1,410,547)              1,426,113
                                                              ------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................          2,867,103               223,574              1,900,608
                                                              ------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $        4,437,276    $        1,505,304    $         3,475,419
                                                              ==================    ==================    ===================



                                                                                    MIST PIONEER FUND                        
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $            2,902    $            2,289    $            1,987 
                                                              ------------------    ------------------    ------------------ 
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                 --                    --                    -- 
                                                              ------------------    ------------------    ------------------ 
          Net investment income (loss).......................              2,902                 2,289                 1,987 
                                                              ------------------    ------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                 --                    --                    -- 
      Realized gains (losses) on sale of investments.........              1,266                21,102                 6,067 
                                                              ------------------    ------------------    ------------------ 
          Net realized gains (losses)........................              1,266                21,102                 6,067 
                                                              ------------------    ------------------    ------------------ 
      Change in unrealized gains (losses) on investments.....             14,560              (30,602)                25,716 
                                                              ------------------    ------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................             15,826               (9,500)                31,783 
                                                              ------------------    ------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $           18,728    $          (7,211)    $           33,770 
                                                              ==================    ==================    ================== 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                       MIST RCM TECHNOLOGY                  
                                                                                       INVESTMENT DIVISION                  
                                                                      ----------------------------------------------------- 
                                                                            2012               2011              2010       
                                                                      ----------------   ---------------   ---------------- 
                                                                                                                            
INVESTMENT INCOME:                                                                                                          
      Dividends...................................................... $             --   $            --                    
                                                                      ----------------   ---------------   ---------------- 
EXPENSES:                                                                                                                   
      Mortality and expense risk charges.............................           19,709            21,877             19,473 
                                                                      ----------------   ---------------   ---------------- 
          Net investment income (loss)...............................         (19,709)          (21,877)           (19,473) 
                                                                      ----------------   ---------------   ---------------- 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                       
   ON INVESTMENTS:                                                                                                          
      Realized gain distributions....................................        1,637,998                --                 -- 
      Realized gains (losses) on sale of investments.................          179,920           512,571           (54,192) 
                                                                      ----------------   ---------------   ---------------- 
          Net realized gains (losses)................................        1,817,918           512,571           (54,192) 
                                                                      ----------------   ---------------   ---------------- 
      Change in unrealized gains (losses) on investments.............        (166,446)       (1,944,446)          3,551,862 
                                                                      ----------------   ---------------   ---------------- 
      Net realized and changes in unrealized gains (losses)                                                                 
        on investments...............................................        1,651,472       (1,431,875)          3,497,670 
                                                                      ----------------   ---------------   ---------------- 
      Net increase (decrease) in net assets resulting                                                                       
        from operations.............................................. $      1,631,763   $   (1,453,752)   $      3,478,197 
                                                                      ================   ===============   ================ 



                                                                        MIST SCHRODERS                                      
                                                                      GLOBAL MULTI-ASSET                                    
                                                                      INVESTMENT DIVISION                                   
                                                                      -------------------                                   
                                                                           2012 (f)                                         
                                                                      -------------------                                   
                                                                                                                            
INVESTMENT INCOME:                                                                                                          
      Dividends......................................................  $             42                                     
                                                                      -------------------                                   
EXPENSES:                                                                                                                   
      Mortality and expense risk charges.............................                --                                     
                                                                      -------------------                                   
          Net investment income (loss)...............................                42                                     
                                                                      -------------------                                   
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                       
   ON INVESTMENTS:                                                                                                          
      Realized gain distributions....................................                94                                     
      Realized gains (losses) on sale of investments.................                 9                                     
                                                                      -------------------                                   
          Net realized gains (losses)................................               103                                     
                                                                      -------------------                                   
      Change in unrealized gains (losses) on investments.............              (23)                                     
                                                                      -------------------                                   
      Net realized and changes in unrealized gains (losses)                                                                 
        on investments...............................................                80                                     
                                                                      -------------------                                   
      Net increase (decrease) in net assets resulting                                                                       
        from operations..............................................  $            122                                     
                                                                      ===================                                   



                                                                                MIST SSGA GROWTH AND INCOME ETF             
                                                                                      INVESTMENT DIVISION                   
                                                                      ----------------------------------------------------- 
                                                                            2012              2011               2010       
                                                                      ----------------   ---------------    --------------- 
                                                                                                                            
INVESTMENT INCOME:                                                                                                          
      Dividends...................................................... $        133,958   $        74,234    $        35,130 
                                                                      ----------------   ---------------    --------------- 
EXPENSES:                                                                                                                   
      Mortality and expense risk charges.............................            7,748             6,908              4,952 
                                                                      ----------------   ---------------    --------------- 
          Net investment income (loss)...............................          126,210            67,326             30,178 
                                                                      ----------------   ---------------    --------------- 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                       
   ON INVESTMENTS:                                                                                                          
      Realized gain distributions....................................          114,627            74,142                115 
      Realized gains (losses) on sale of investments.................           53,987            49,491             16,043 
                                                                      ----------------   ---------------    --------------- 
          Net realized gains (losses)................................          168,614           123,633             16,158 
                                                                      ----------------   ---------------    --------------- 
      Change in unrealized gains (losses) on investments.............          365,606         (151,325)            322,318 
                                                                      ----------------   ---------------    --------------- 
      Net realized and changes in unrealized gains (losses)                                                                 
        on investments...............................................          534,220          (27,692)            338,476 
                                                                      ----------------   ---------------    --------------- 
      Net increase (decrease) in net assets resulting                                                                       
        from operations.............................................. $        660,430   $        39,634    $       368,654 
                                                                      ================   ===============    =============== 



                                                                                      MIST SSGA GROWTH ETF                  
                                                                                       INVESTMENT DIVISION                  
                                                                      ------------------------------------------------------
                                                                            2012               2011               2010      
                                                                      ----------------   ----------------   ----------------
                                                                                                                            
INVESTMENT INCOME:                                                                                                          
      Dividends...................................................... $         80,502   $         57,479   $         34,185
                                                                      ----------------   ----------------   ----------------
EXPENSES:                                                                                                                   
      Mortality and expense risk charges.............................            5,984              5,126              4,127
                                                                      ----------------   ----------------   ----------------
          Net investment income (loss)...............................           74,518             52,353             30,058
                                                                      ----------------   ----------------   ----------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                       
   ON INVESTMENTS:                                                                                                          
      Realized gain distributions....................................          134,987                 --                 --
      Realized gains (losses) on sale of investments.................           42,712             63,035             12,378
                                                                      ----------------   ----------------   ----------------
          Net realized gains (losses)................................          177,699             63,035             12,378
                                                                      ----------------   ----------------   ----------------
      Change in unrealized gains (losses) on investments.............          279,360          (183,850)            271,601
                                                                      ----------------   ----------------   ----------------
      Net realized and changes in unrealized gains (losses)                                                                 
        on investments...............................................          457,059          (120,815)            283,979
                                                                      ----------------   ----------------   ----------------
      Net increase (decrease) in net assets resulting                                                                       
        from operations.............................................. $        531,577   $       (68,462)   $        314,037
                                                                      ================   ================   ================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                          MIST T. ROWE PRICE LARGE CAP VALUE               
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $           19,582    $            9,481    $           65,246
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                    --
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................             19,582                 9,481                65,246
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................                 --                    --                    --
      Realized gains (losses) on sale of investments........            (1,403)             (435,260)              (79,021)
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................            (1,403)             (435,260)              (79,021)
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....            181,043               577,510               921,874
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................            179,640               142,250               842,853
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $          199,222    $          151,731    $          908,099
                                                             ==================    ==================    ==================



                                                                           MIST T. ROWE PRICE MID CAP GROWTH               
                                                                                  INVESTMENT DIVISION                      
                                                             ------------------------------------------------------------- 
                                                                   2012                   2011                 2010        
                                                             ------------------   -------------------   ------------------ 
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $               --   $                --                      
                                                             ------------------   -------------------   ------------------ 
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................             29,751                30,563               25,378 
                                                             ------------------   -------------------   ------------------ 
          Net investment income (loss)......................           (29,751)              (30,563)             (25,378) 
                                                             ------------------   -------------------   ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................          2,679,802               560,152                   -- 
      Realized gains (losses) on sale of investments........           (50,793)               312,619              131,367 
                                                             ------------------   -------------------   ------------------ 
          Net realized gains (losses).......................          2,629,009               872,771              131,367 
                                                             ------------------   -------------------   ------------------ 
      Change in unrealized gains (losses) on investments....            206,878           (1,837,318)            4,580,355 
                                                             ------------------   -------------------   ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................          2,835,887             (964,547)            4,711,722 
                                                             ------------------   -------------------   ------------------ 
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $        2,806,136   $         (995,110)   $        4,686,344 
                                                             ==================   ===================   ================== 



                                                                           MIST THIRD AVENUE SMALL CAP VALUE               
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $               --    $            9,414    $           12,822
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                    --
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................                 --                 9,414                12,822
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................                 --                    --                    --
      Realized gains (losses) on sale of investments........             12,071                86,881                42,370
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................             12,071                86,881                42,370
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....            129,525             (240,493)               198,929
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................            141,596             (153,612)               241,299
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $          141,596    $        (144,198)    $          254,121
                                                             ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                          MSF BAILLIE GIFFORD INTERNATIONAL STOCK             
                                                                                    INVESTMENT DIVISION                       
                                                               ---------------------------------------------------------------
                                                                      2012                  2011                   2010       
                                                               ------------------    -------------------    ------------------
                                                                                                                              
INVESTMENT INCOME:                                                                                                            
      Dividends............................................... $          525,164    $           753,948    $          672,423
                                                               ------------------    -------------------    ------------------
EXPENSES:                                                                                                                     
      Mortality and expense risk charges......................            183,754                207,499               217,625
                                                               ------------------    -------------------    ------------------
          Net investment income (loss)........................            341,410                546,449               454,798
                                                               ------------------    -------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                         
   ON INVESTMENTS:                                                                                                            
      Realized gain distributions.............................                 --                     --                    --
      Realized gains (losses) on sale of investments..........        (1,190,404)              (808,593)           (1,030,425)
                                                               ------------------    -------------------    ------------------
          Net realized gains (losses).........................        (1,190,404)              (808,593)           (1,030,425)
                                                               ------------------    -------------------    ------------------
      Change in unrealized gains (losses) on investments......          7,502,480            (8,900,342)             3,370,719
                                                               ------------------    -------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                   
        on investments........................................          6,312,076            (9,708,935)             2,340,294
                                                               ------------------    -------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                         
        from operations....................................... $        6,653,486    $       (9,162,486)    $        2,795,092
                                                               ==================    ===================    ==================



                                                                         MSF BARCLAYS CAPITAL AGGREGATE BOND INDEX            
                                                                                    INVESTMENT DIVISION                       
                                                               ---------------------------------------------------------------
                                                                      2012                  2011                   2010       
                                                               ------------------    ------------------    -------------------
                                                                                                                              
INVESTMENT INCOME:                                                                                                            
      Dividends............................................... $        4,275,027    $        3,919,750    $         4,039,520
                                                               ------------------    ------------------    -------------------
EXPENSES:                                                                                                                     
      Mortality and expense risk charges......................             43,939                43,935                 44,066
                                                               ------------------    ------------------    -------------------
          Net investment income (loss)........................          4,231,088             3,875,815              3,995,454
                                                               ------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                         
   ON INVESTMENTS:                                                                                                            
      Realized gain distributions.............................                 --                    --                     --
      Realized gains (losses) on sale of investments..........            604,720               843,640                613,564
                                                               ------------------    ------------------    -------------------
          Net realized gains (losses).........................            604,720               843,640                613,564
                                                               ------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments......          (447,969)             3,276,276              1,607,603
                                                               ------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                   
        on investments........................................            156,751             4,119,916              2,221,167
                                                               ------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                         
        from operations....................................... $        4,387,839    $        7,995,731    $         6,216,621
                                                               ==================    ==================    ===================



                                                                              MSF BLACKROCK AGGRESSIVE GROWTH                 
                                                                                    INVESTMENT DIVISION                       
                                                               ---------------------------------------------------------------
                                                                      2012                  2011                   2010       
                                                               ------------------    -------------------    ------------------
                                                                                                                              
INVESTMENT INCOME:                                                                                                            
      Dividends............................................... $               --    $           597,164    $          125,813
                                                               ------------------    -------------------    ------------------
EXPENSES:                                                                                                                     
      Mortality and expense risk charges......................          1,258,555              1,298,633             1,237,626
                                                               ------------------    -------------------    ------------------
          Net investment income (loss)........................        (1,258,555)              (701,469)           (1,111,813)
                                                               ------------------    -------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                         
   ON INVESTMENTS:                                                                                                            
      Realized gain distributions.............................                 --                     --                    --
      Realized gains (losses) on sale of investments..........          2,892,428              2,544,325               451,106
                                                               ------------------    -------------------    ------------------
          Net realized gains (losses).........................          2,892,428              2,544,325               451,106
                                                               ------------------    -------------------    ------------------
      Change in unrealized gains (losses) on investments......         17,096,166            (8,863,059)            26,312,677
                                                               ------------------    -------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                   
        on investments........................................         19,988,594            (6,318,734)            26,763,783
                                                               ------------------    -------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                         
        from operations....................................... $       18,730,039    $       (7,020,203)    $       25,651,970
                                                               ==================    ===================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                MSF BLACKROCK BOND INCOME                   
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INVESTMENT INCOME:                                                                                                          
      Dividends.............................................. $        2,288,505    $        3,304,583    $        3,345,493
                                                              ------------------    ------------------    ------------------
EXPENSES:                                                                                                                   
      Mortality and expense risk charges.....................            317,038               318,184               328,215
                                                              ------------------    ------------------    ------------------
          Net investment income (loss).......................          1,971,467             2,986,399             3,017,278
                                                              ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                       
   ON INVESTMENTS:                                                                                                          
      Realized gain distributions............................            551,492                    --                    --
      Realized gains (losses) on sale of investments.........            354,078               132,024                24,746
                                                              ------------------    ------------------    ------------------
          Net realized gains (losses)........................            905,570               132,024                24,746
                                                              ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....          2,995,775             1,930,533             3,372,816
                                                              ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                 
        on investments.......................................          3,901,345             2,062,557             3,397,562
                                                              ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                       
        from operations...................................... $        5,872,812    $        5,048,956    $        6,414,840
                                                              ==================    ==================    ==================



                                                                                MSF BLACKROCK DIVERSIFIED                   
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INVESTMENT INCOME:                                                                                                          
      Dividends.............................................. $        6,071,412    $        6,407,012    $        4,856,230
                                                              ------------------    ------------------    ------------------
EXPENSES:                                                                                                                   
      Mortality and expense risk charges.....................          1,471,028             1,472,691             1,451,372
                                                              ------------------    ------------------    ------------------
          Net investment income (loss).......................          4,600,384             4,934,321             3,404,858
                                                              ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                       
   ON INVESTMENTS:                                                                                                          
      Realized gain distributions............................                 --                    --                    --
      Realized gains (losses) on sale of investments.........          1,094,116             (191,522)           (1,951,136)
                                                              ------------------    ------------------    ------------------
          Net realized gains (losses)........................          1,094,116             (191,522)           (1,951,136)
                                                              ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....         23,691,349             3,658,514            20,635,275
                                                              ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                 
        on investments.......................................         24,785,465             3,466,992            18,684,139
                                                              ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                       
        from operations...................................... $       29,385,849    $        8,401,313    $       22,088,997
                                                              ==================    ==================    ==================



                                                                              MSF BLACKROCK LARGE CAP VALUE                 
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INVESTMENT INCOME:                                                                                                          
      Dividends.............................................. $          229,106    $          149,056    $          122,314
                                                              ------------------    ------------------    ------------------
EXPENSES:                                                                                                                   
      Mortality and expense risk charges.....................             19,727                19,323                18,112
                                                              ------------------    ------------------    ------------------
          Net investment income (loss).......................            209,379               129,733               104,202
                                                              ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                       
   ON INVESTMENTS:                                                                                                          
      Realized gain distributions............................          2,231,565                    --                    --
      Realized gains (losses) on sale of investments.........          (224,253)              (80,782)             (263,466)
                                                              ------------------    ------------------    ------------------
          Net realized gains (losses)........................          2,007,312              (80,782)             (263,466)
                                                              ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....          (358,711)               254,349             1,265,453
                                                              ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                 
        on investments.......................................          1,648,601               173,567             1,001,987
                                                              ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                       
        from operations...................................... $        1,857,980    $          303,300    $        1,106,189
                                                              ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                            MSF BLACKROCK LEGACY LARGE CAP GROWTH              
                                                                                     INVESTMENT DIVISION                       
                                                               ----------------------------------------------------------------
                                                                       2012                  2011                   2010       
                                                               -------------------    -------------------    ------------------
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $            41,947    $            14,560    $           14,175
                                                               -------------------    -------------------    ------------------
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................               8,390                  7,908                 7,064
                                                               -------------------    -------------------    ------------------
          Net investment income (loss)........................              33,557                  6,652                 7,111
                                                               -------------------    -------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                  --                     --                    --
      Realized gains (losses) on sale of investments..........             261,278                137,813                75,641
                                                               -------------------    -------------------    ------------------
          Net realized gains (losses).........................             261,278                137,813                75,641
                                                               -------------------    -------------------    ------------------
      Change in unrealized gains (losses) on investments......           1,344,869              (879,158)             1,107,022
                                                               -------------------    -------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................           1,606,147              (741,345)             1,182,663
                                                               -------------------    -------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $         1,639,704    $         (734,693)    $        1,189,774
                                                               ===================    ===================    ==================



                                                                                 MSF BLACKROCK MONEY MARKET                    
                                                                                     INVESTMENT DIVISION                       
                                                               ----------------------------------------------------------------
                                                                      2012                   2011                   2010       
                                                               -------------------    ------------------    -------------------
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $                --    $               --    $             3,600
                                                               -------------------    ------------------    -------------------
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................              48,731                47,046                 54,598
                                                               -------------------    ------------------    -------------------
          Net investment income (loss)........................            (48,731)              (47,046)               (50,998)
                                                               -------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                  --                    --                     --
      Realized gains (losses) on sale of investments..........                  --                    --                     --
                                                               -------------------    ------------------    -------------------
          Net realized gains (losses).........................                  --                    --                     --
                                                               -------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments......                  --                    --                     --
                                                               -------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................                  --                    --                     --
                                                               -------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $          (48,731)    $         (47,046)    $          (50,998)
                                                               ===================    ==================    ===================



                                                                                   MSF DAVIS VENTURE VALUE                     
                                                                                     INVESTMENT DIVISION                       
                                                               ----------------------------------------------------------------
                                                                      2012                   2011                  2010        
                                                               -------------------    ------------------    -------------------
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $           475,355    $          648,127    $           534,093
                                                               -------------------    ------------------    -------------------
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................              49,148                53,389                 55,117
                                                               -------------------    ------------------    -------------------
          Net investment income (loss)........................             426,207               594,738                478,976
                                                               -------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                  --                    --                     --
      Realized gains (losses) on sale of investments..........             549,533               492,146                191,969
                                                               -------------------    ------------------    -------------------
          Net realized gains (losses).........................             549,533               492,146                191,969
                                                               -------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments......           5,763,493           (3,392,027)              5,562,556
                                                               -------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................           6,313,026           (2,899,881)              5,754,525
                                                               -------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $         6,739,233    $      (2,305,143)    $         6,233,501
                                                               ===================    ==================    ===================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                  MSF FI VALUE LEADERS                       
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $           78,407    $           70,725    $           90,469 
                                                              ------------------    ------------------    ------------------ 
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................              7,422                 7,565                 7,339 
                                                              ------------------    ------------------    ------------------ 
          Net investment income (loss).......................             70,985                63,160                83,130 
                                                              ------------------    ------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                 --                    --                    -- 
      Realized gains (losses) on sale of investments.........           (88,358)              (99,840)             (145,291) 
                                                              ------------------    ------------------    ------------------ 
          Net realized gains (losses)........................           (88,358)              (99,840)             (145,291) 
                                                              ------------------    ------------------    ------------------ 
      Change in unrealized gains (losses) on investments.....            950,530             (347,209)               885,079 
                                                              ------------------    ------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................            862,172             (447,049)               739,788 
                                                              ------------------    ------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $          933,157    $        (383,889)    $          822,918 
                                                              ==================    ==================    ================== 



                                                                                   MSF JENNISON GROWTH                       
                                                                                   INVESTMENT DIVISION                       
                                                              ---------------------------------------------------------------
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    -------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $           37,925    $           42,021    $            82,750
                                                              ------------------    ------------------    -------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................              9,820                 6,458                  5,787
                                                              ------------------    ------------------    -------------------
          Net investment income (loss).......................             28,105                35,563                 76,963
                                                              ------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................          2,671,966                    --                     --
      Realized gains (losses) on sale of investments.........            139,207               251,119                 17,747
                                                              ------------------    ------------------    -------------------
          Net realized gains (losses)........................          2,811,173               251,119                 17,747
                                                              ------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments.....          (683,735)             (215,551)              1,535,759
                                                              ------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................          2,127,438                35,568              1,553,506
                                                              ------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $        2,155,543    $           71,131    $         1,630,469
                                                              ==================    ==================    ===================



                                                                             MSF LOOMIS SAYLES SMALL CAP CORE                
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                      2012                  2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $                --    $           20,207    $           14,765
                                                              -------------------    ------------------    ------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................              18,930                18,819                16,451
                                                              -------------------    ------------------    ------------------
          Net investment income (loss).......................            (18,930)                 1,388               (1,686)
                                                              -------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................             452,678                    --                    --
      Realized gains (losses) on sale of investments.........             282,308               258,722              (55,224)
                                                              -------------------    ------------------    ------------------
          Net realized gains (losses)........................             734,986               258,722              (55,224)
                                                              -------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....           1,736,369             (166,265)             4,065,140
                                                              -------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................           2,471,355                92,457             4,009,916
                                                              -------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $         2,452,425    $           93,845    $        4,008,230
                                                              ===================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                         MSF LOOMIS SAYLES SMALL CAP GROWTH              
                                                                                 INVESTMENT DIVISION                     
                                                            -------------------------------------------------------------
                                                                   2012                  2011                 2010       
                                                            ------------------    ------------------   ------------------
                                                                                                                         
INVESTMENT INCOME:                                                                                                       
     Dividends............................................. $               --    $               --   $               --
                                                            ------------------    ------------------   ------------------
EXPENSES:                                                                                                                
     Mortality and expense risk charges....................              7,211                 7,268                5,276
                                                            ------------------    ------------------   ------------------
          Net investment income (loss).....................            (7,211)               (7,268)              (5,276)
                                                            ------------------    ------------------   ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                    
   ON INVESTMENTS:                                                                                                       
     Realized gain distributions...........................                 --                    --                   --
     Realized gains (losses) on sale of investments........            192,524               104,198             (47,680)
                                                            ------------------    ------------------   ------------------
          Net realized gains (losses)......................            192,524               104,198             (47,680)
                                                            ------------------    ------------------   ------------------
     Change in unrealized gains (losses) on investments....            678,535               121,090            1,843,398
                                                            ------------------    ------------------   ------------------
     Net realized and changes in unrealized gains (losses)                                                               
        on investments.....................................            871,059               225,288            1,795,718
                                                            ------------------    ------------------   ------------------
     Net increase (decrease) in net assets resulting                                                                     
        from operations.................................... $          863,848    $          218,020   $        1,790,442
                                                            ==================    ==================   ==================



                                                                           MSF MET/ARTISAN MID CAP VALUE                 
                                                                                INVESTMENT DIVISION                      
                                                            -------------------------------------------------------------
                                                                  2012                  2011                  2010       
                                                            -----------------    ------------------    ------------------
                                                                                                                         
INVESTMENT INCOME:                                                                                                       
     Dividends............................................. $         483,287    $          455,060    $          314,548
                                                            -----------------    ------------------    ------------------
EXPENSES:                                                                                                                
     Mortality and expense risk charges....................            46,626                47,224                44,707
                                                            -----------------    ------------------    ------------------
          Net investment income (loss).....................           436,661               407,836               269,841
                                                            -----------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                    
   ON INVESTMENTS:                                                                                                       
     Realized gain distributions...........................                --                    --                    --
     Realized gains (losses) on sale of investments........         (286,700)             (412,007)             (887,093)
                                                            -----------------    ------------------    ------------------
          Net realized gains (losses)......................         (286,700)             (412,007)             (887,093)
                                                            -----------------    ------------------    ------------------
     Change in unrealized gains (losses) on investments....         5,263,295             3,096,938             6,661,231
                                                            -----------------    ------------------    ------------------
     Net realized and changes in unrealized gains (losses)                                                               
        on investments.....................................         4,976,595             2,684,931             5,774,138
                                                            -----------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
        from operations.................................... $       5,413,256    $        3,092,767    $        6,043,979
                                                            =================    ==================    ==================



                                                                         MSF METLIFE CONSERVATIVE ALLOCATION             
                                                                                 INVESTMENT DIVISION                     
                                                            -------------------------------------------------------------
                                                                   2012                  2011                 2010       
                                                            ------------------    ------------------    -----------------
                                                                                                                         
INVESTMENT INCOME:                                                                                                       
     Dividends............................................. $          148,047    $           98,787    $         102,209
                                                            ------------------    ------------------    -----------------
EXPENSES:                                                                                                                
     Mortality and expense risk charges....................              9,352                 8,004                5,151
                                                            ------------------    ------------------    -----------------
          Net investment income (loss).....................            138,695                90,783               97,058
                                                            ------------------    ------------------    -----------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                    
   ON INVESTMENTS:                                                                                                       
     Realized gain distributions...........................            114,982                    --                   --
     Realized gains (losses) on sale of investments........             59,284                77,218               46,459
                                                            ------------------    ------------------    -----------------
          Net realized gains (losses)......................            174,266                77,218               46,459
                                                            ------------------    ------------------    -----------------
     Change in unrealized gains (losses) on investments....            123,869              (37,275)              119,161
                                                            ------------------    ------------------    -----------------
     Net realized and changes in unrealized gains (losses)                                                               
        on investments.....................................            298,135                39,943              165,620
                                                            ------------------    ------------------    -----------------
     Net increase (decrease) in net assets resulting                                                                     
        from operations.................................... $          436,830    $          130,726    $         262,678
                                                            ==================    ==================    =================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                      MSF METLIFE CONSERVATIVE TO MODERATE ALLOCATION         
                                                                                    INVESTMENT DIVISION                       
                                                               ---------------------------------------------------------------
                                                                      2012                  2011                   2010       
                                                               ------------------    -------------------    ------------------
                                                                                                                              
INVESTMENT INCOME:                                                                                                            
      Dividends............................................... $          219,743    $           156,398    $          193,442
                                                               ------------------    -------------------    ------------------
EXPENSES:                                                                                                                     
      Mortality and expense risk charges......................             14,684                 13,340                11,465
                                                               ------------------    -------------------    ------------------
          Net investment income (loss)........................            205,059                143,058               181,977
                                                               ------------------    -------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                         
   ON INVESTMENTS:                                                                                                            
      Realized gain distributions.............................             21,976                     --                    --
      Realized gains (losses) on sale of investments..........             59,559                135,436                32,319
                                                               ------------------    -------------------    ------------------
          Net realized gains (losses).........................             81,535                135,436                32,319
                                                               ------------------    -------------------    ------------------
      Change in unrealized gains (losses) on investments......            541,162              (210,123)               421,073
                                                               ------------------    -------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                   
        on investments........................................            622,697               (74,687)               453,392
                                                               ------------------    -------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                         
        from operations....................................... $          827,756    $            68,371    $          635,369
                                                               ==================    ===================    ==================



                                                                              MSF METLIFE MID CAP STOCK INDEX                 
                                                                                    INVESTMENT DIVISION                       
                                                               ---------------------------------------------------------------
                                                                      2012                  2011                   2010       
                                                               ------------------    -------------------    ------------------
                                                                                                                              
INVESTMENT INCOME:                                                                                                            
      Dividends............................................... $          662,912    $           593,088    $          562,548
                                                               ------------------    -------------------    ------------------
EXPENSES:                                                                                                                     
      Mortality and expense risk charges......................             51,493                 51,561                46,237
                                                               ------------------    -------------------    ------------------
          Net investment income (loss)........................            611,419                541,527               516,311
                                                               ------------------    -------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                         
   ON INVESTMENTS:                                                                                                            
      Realized gain distributions.............................          2,787,031              2,722,599                70,909
      Realized gains (losses) on sale of investments..........            830,830                678,616               177,461
                                                               ------------------    -------------------    ------------------
          Net realized gains (losses).........................          3,617,861              3,401,215               248,370
                                                               ------------------    -------------------    ------------------
      Change in unrealized gains (losses) on investments......          6,545,785            (4,954,472)            12,893,844
                                                               ------------------    -------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                   
        on investments........................................         10,163,646            (1,553,257)            13,142,214
                                                               ------------------    -------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                         
        from operations....................................... $       10,775,065    $       (1,011,730)    $       13,658,525
                                                               ==================    ===================    ==================



                                                                               MSF METLIFE MODERATE ALLOCATION                
                                                                                     INVESTMENT DIVISION                      
                                                               ---------------------------------------------------------------
                                                                      2012                   2011                  2010       
                                                               ------------------    -------------------    ------------------
                                                                                                                              
INVESTMENT INCOME:                                                                                                            
      Dividends............................................... $        1,056,014    $           669,982    $          877,469
                                                               ------------------    -------------------    ------------------
EXPENSES:                                                                                                                     
      Mortality and expense risk charges......................             72,676                 67,625                55,021
                                                               ------------------    -------------------    ------------------
          Net investment income (loss)........................            983,338                602,357               822,448
                                                               ------------------    -------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                         
   ON INVESTMENTS:                                                                                                            
      Realized gain distributions.............................                 --                     --                    --
      Realized gains (losses) on sale of investments..........            307,411                234,474                17,779
                                                               ------------------    -------------------    ------------------
          Net realized gains (losses).........................            307,411                234,474                17,779
                                                               ------------------    -------------------    ------------------
      Change in unrealized gains (losses) on investments......          3,912,908            (1,362,402)             3,378,733
                                                               ------------------    -------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                   
        on investments........................................          4,220,319            (1,127,928)             3,396,512
                                                               ------------------    -------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                         
        from operations....................................... $        5,203,657    $         (525,571)    $        4,218,960
                                                               ==================    ===================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                    MSF METLIFE MODERATE TO AGGRESSIVE ALLOCATION        
                                                                                 INVESTMENT DIVISION                     
                                                            -------------------------------------------------------------
                                                                   2012                  2011                 2010       
                                                            ------------------    -----------------    ------------------
                                                                                                                         
INVESTMENT INCOME:                                                                                                       
     Dividends............................................. $        1,528,175    $       1,073,341    $        1,283,219
                                                            ------------------    -----------------    ------------------
EXPENSES:                                                                                                                
     Mortality and expense risk charges....................             75,645               72,954                65,961
                                                            ------------------    -----------------    ------------------
          Net investment income (loss).....................          1,452,530            1,000,387             1,217,258
                                                            ------------------    -----------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                    
   ON INVESTMENTS:                                                                                                       
     Realized gain distributions...........................                 --                   --                    --
     Realized gains (losses) on sale of investments........            342,924              112,005             (102,509)
                                                            ------------------    -----------------    ------------------
          Net realized gains (losses)......................            342,924              112,005             (102,509)
                                                            ------------------    -----------------    ------------------
     Change in unrealized gains (losses) on investments....          8,619,633          (3,772,324)             7,116,457
                                                            ------------------    -----------------    ------------------
     Net realized and changes in unrealized gains (losses)                                                               
        on investments.....................................          8,962,557          (3,660,319)             7,013,948
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
        from operations.................................... $       10,415,087    $     (2,659,932)    $        8,231,206
                                                            ==================    =================    ==================



                                                                              MSF METLIFE STOCK INDEX                    
                                                                                INVESTMENT DIVISION                      
                                                            ------------------------------------------------------------ 
                                                                  2012                  2011                  2010       
                                                            -----------------    ------------------    ----------------- 
                                                                                                                         
INVESTMENT INCOME:                                                                                                       
     Dividends............................................. $      12,674,264    $       11,182,368    $      10,671,016 
                                                            -----------------    ------------------    ----------------- 
EXPENSES:                                                                                                                
     Mortality and expense risk charges....................         1,725,734             1,662,241            2,062,810 
                                                            -----------------    ------------------    ----------------- 
          Net investment income (loss).....................        10,948,530             9,520,127            8,608,206 
                                                            -----------------    ------------------    ----------------- 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                    
   ON INVESTMENTS:                                                                                                       
     Realized gain distributions...........................         5,087,401             4,115,111                   -- 
     Realized gains (losses) on sale of investments........         3,743,076             (324,668)          (5,405,568) 
                                                            -----------------    ------------------    ----------------- 
          Net realized gains (losses)......................         8,830,477             3,790,443          (5,405,568) 
                                                            -----------------    ------------------    ----------------- 
     Change in unrealized gains (losses) on investments....        82,239,455           (2,093,968)           82,259,608 
                                                            -----------------    ------------------    ----------------- 
     Net realized and changes in unrealized gains (losses)                                                               
        on investments.....................................        91,069,932             1,696,475           76,854,040 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets resulting                                                                     
        from operations.................................... $     102,018,462    $       11,216,602    $      85,462,246 
                                                            =================    ==================    ================= 



                                                                                MSF MFS TOTAL RETURN                     
                                                                                 INVESTMENT DIVISION                     
                                                            -------------------------------------------------------------
                                                                   2012                  2011                 2010       
                                                            ------------------    -----------------    ------------------
                                                                                                                         
INVESTMENT INCOME:                                                                                                       
     Dividends............................................. $          220,676    $         208,852    $          217,114
                                                            ------------------    -----------------    ------------------
EXPENSES:                                                                                                                
     Mortality and expense risk charges....................              6,627                6,289                 6,194
                                                            ------------------    -----------------    ------------------
          Net investment income (loss).....................            214,049              202,563               210,920
                                                            ------------------    -----------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                    
   ON INVESTMENTS:                                                                                                       
     Realized gain distributions...........................                 --                   --                    --
     Realized gains (losses) on sale of investments........             32,260             (29,847)              (99,947)
                                                            ------------------    -----------------    ------------------
          Net realized gains (losses)......................             32,260             (29,847)              (99,947)
                                                            ------------------    -----------------    ------------------
     Change in unrealized gains (losses) on investments....            595,278             (11,189)               568,242
                                                            ------------------    -----------------    ------------------
     Net realized and changes in unrealized gains (losses)                                                               
        on investments.....................................            627,538             (41,036)               468,295
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
        from operations.................................... $          841,587    $         161,527    $          679,215
                                                            ==================    =================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                       MSF MFS VALUE                         
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                     2012                   2011                  2010       
                                                              ------------------    -------------------    ------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $        1,079,462    $           836,589    $          713,180
                                                              ------------------    -------------------    ------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................             47,838                 46,802                46,357
                                                              ------------------    -------------------    ------------------
          Net investment income (loss).......................          1,031,624                789,787               666,823
                                                              ------------------    -------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................            768,644                     --                    --
      Realized gains (losses) on sale of investments.........            200,451               (44,982)             (425,864)
                                                              ------------------    -------------------    ------------------
          Net realized gains (losses)........................            969,095               (44,982)             (425,864)
                                                              ------------------    -------------------    ------------------
      Change in unrealized gains (losses) on investments.....          6,505,435              (346,891)             5,358,513
                                                              ------------------    -------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................          7,474,530              (391,873)             4,932,649
                                                              ------------------    -------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $        8,506,154    $           397,914    $        5,599,472
                                                              ==================    ===================    ==================



                                                                                    MSF MSCI EAFE INDEX                      
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                      2012                  2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $         1,993,048    $        1,549,893    $        1,568,147
                                                              -------------------    ------------------    ------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................              34,978                37,419                36,554
                                                              -------------------    ------------------    ------------------
          Net investment income (loss).......................           1,958,070             1,512,474             1,531,593
                                                              -------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                  --                    --                    --
      Realized gains (losses) on sale of investments.........            (63,228)               137,025             (236,046)
                                                              -------------------    ------------------    ------------------
          Net realized gains (losses)........................            (63,228)               137,025             (236,046)
                                                              -------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....           9,143,347           (9,604,700)             3,674,685
                                                              -------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................           9,080,119           (9,467,675)             3,438,639
                                                              -------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $        11,038,189    $      (7,955,201)    $        4,970,232
                                                              ===================    ==================    ==================



                                                                              MSF NEUBERGER BERMAN GENESIS                   
                                                                                   INVESTMENT DIVISION                       
                                                              ---------------------------------------------------------------
                                                                     2012                  2011                   2010       
                                                              ------------------    -------------------    ------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $          297,555    $           596,562    $          353,007
                                                              ------------------    -------------------    ------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................             75,540                 76,321                68,779
                                                              ------------------    -------------------    ------------------
          Net investment income (loss).......................            222,015                520,241               284,228
                                                              ------------------    -------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                 --                     --                    --
      Realized gains (losses) on sale of investments.........          (730,868)              (976,828)           (2,085,738)
                                                              ------------------    -------------------    ------------------
          Net realized gains (losses)........................          (730,868)              (976,828)           (2,085,738)
                                                              ------------------    -------------------    ------------------
      Change in unrealized gains (losses) on investments.....          8,168,095              4,961,322            15,927,942
                                                              ------------------    -------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................          7,437,227              3,984,494            13,842,204
                                                              ------------------    -------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $        7,659,242    $         4,504,735    $       14,126,432
                                                              ==================    ===================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                MSF OPPENHEIMER GLOBAL EQUITY                  
                                                                                     INVESTMENT DIVISION                       
                                                               --------------------------------------------------------------- 
                                                                      2012                   2011                  2010        
                                                               ------------------    -------------------    ------------------ 
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $          648,196    $           845,569    $          612,821 
                                                               ------------------    -------------------    ------------------ 
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................            117,470                126,057               123,628 
                                                               ------------------    -------------------    ------------------ 
          Net investment income (loss)........................            530,726                719,512               489,193 
                                                               ------------------    -------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                 --                     --                    -- 
      Realized gains (losses) on sale of investments..........            700,180                892,248               362,727 
                                                               ------------------    -------------------    ------------------ 
          Net realized gains (losses).........................            700,180                892,248               362,727 
                                                               ------------------    -------------------    ------------------ 
      Change in unrealized gains (losses) on investments......          6,406,670            (5,213,727)             5,192,068 
                                                               ------------------    -------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................          7,106,850            (4,321,479)             5,554,795 
                                                               ------------------    -------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $        7,637,576    $       (3,601,967)    $        6,043,988 
                                                               ==================    ===================    ================== 



                                                                                   MSF RUSSELL 2000 INDEX                      
                                                                                     INVESTMENT DIVISION                       
                                                               --------------------------------------------------------------- 
                                                                      2012                   2011                  2010        
                                                               ------------------    -------------------    ------------------ 
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $          623,816    $           561,526    $          547,888 
                                                               ------------------    -------------------    ------------------ 
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................             39,701                 40,338                37,116 
                                                               ------------------    -------------------    ------------------ 
          Net investment income (loss)........................            584,115                521,188               510,772 
                                                               ------------------    -------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                 --                     --                    -- 
      Realized gains (losses) on sale of investments..........            721,576                734,988              (66,857) 
                                                               ------------------    -------------------    ------------------ 
          Net realized gains (losses).........................            721,576                734,988              (66,857) 
                                                               ------------------    -------------------    ------------------ 
      Change in unrealized gains (losses) on investments......          6,793,518            (3,300,203)            11,828,973 
                                                               ------------------    -------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................          7,515,094            (2,565,215)            11,762,116 
                                                               ------------------    -------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $        8,099,209    $       (2,044,027)    $       12,272,888 
                                                               ==================    ===================    ================== 



                                                                             MSF T. ROWE PRICE LARGE CAP GROWTH                
                                                                                     INVESTMENT DIVISION                       
                                                               ----------------------------------------------------------------
                                                                      2012                   2011                  2010        
                                                               -------------------    ------------------    -------------------
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $            58,548    $           38,643    $           113,187
                                                               -------------------    ------------------    -------------------
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................              23,330                20,886                 18,842
                                                               -------------------    ------------------    -------------------
          Net investment income (loss)........................              35,218                17,757                 94,345
                                                               -------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                  --                    --                     --
      Realized gains (losses) on sale of investments..........             996,117               908,859                253,453
                                                               -------------------    ------------------    -------------------
          Net realized gains (losses).........................             996,117               908,859                253,453
                                                               -------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments......           6,924,755           (1,383,140)              6,370,252
                                                               -------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................           7,920,872             (474,281)              6,623,705
                                                               -------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $         7,956,090    $        (456,524)    $         6,718,050
                                                               ===================    ==================    ===================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                            MSF T. ROWE PRICE SMALL CAP GROWTH                 
                                                                                    INVESTMENT DIVISION                        
                                                               --------------------------------------------------------------- 
                                                                      2012                  2011                   2010        
                                                               ------------------    -------------------    ------------------ 
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $               --    $                --    $               -- 
                                                               ------------------    -------------------    ------------------ 
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................            304,065                301,663               258,469 
                                                               ------------------    -------------------    ------------------ 
          Net investment income (loss)........................          (304,065)              (301,663)             (258,469) 
                                                               ------------------    -------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................          9,066,425                     --                    -- 
      Realized gains (losses) on sale of investments..........          2,397,895              2,332,511               562,971 
                                                               ------------------    -------------------    ------------------ 
          Net realized gains (losses).........................         11,464,320              2,332,511               562,971 
                                                               ------------------    -------------------    ------------------ 
      Change in unrealized gains (losses) on investments......          2,263,900              (846,789)            22,601,563 
                                                               ------------------    -------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................         13,728,220              1,485,722            23,164,534 
                                                               ------------------    -------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $       13,424,155    $         1,184,059    $       22,906,065 
                                                               ==================    ===================    ================== 



                                                                MSF VAN ECK GLOBAL NATURAL RESOURCES                           
                                                                         INVESTMENT DIVISION                                   
                                                               ----------------------------------------                        
                                                                      2012                2011 (d)                             
                                                               ------------------    ------------------                        
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $               --    $               --                        
                                                               ------------------    ------------------                        
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................                 --                    --                        
                                                               ------------------    ------------------                        
          Net investment income (loss)........................                 --                    --                        
                                                               ------------------    ------------------                        
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................              2,613                    --                        
      Realized gains (losses) on sale of investments..........              (729)                  (45)                        
                                                               ------------------    ------------------                        
          Net realized gains (losses).........................              1,884                  (45)                        
                                                               ------------------    ------------------                        
      Change in unrealized gains (losses) on investments......            (2,269)               (2,198)                        
                                                               ------------------    ------------------                        
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................              (385)               (2,243)                        
                                                               ------------------    ------------------                        
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $            (385)    $          (2,243)                        
                                                               ==================    ==================                        



                                                                  MSF WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES    
                                                                                     INVESTMENT DIVISION                       
                                                               ----------------------------------------------------------------
                                                                       2012                  2011                  2010        
                                                               -------------------    ------------------    -------------------
                                                                                                                               
INVESTMENT INCOME:                                                                                                             
      Dividends............................................... $           891,838    $        1,209,466    $         1,333,421
                                                               -------------------    ------------------    -------------------
EXPENSES:                                                                                                                      
      Mortality and expense risk charges......................              32,820                31,783                 27,993
                                                               -------------------    ------------------    -------------------
          Net investment income (loss)........................             859,018             1,177,683              1,305,428
                                                               -------------------    ------------------    -------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                          
   ON INVESTMENTS:                                                                                                             
      Realized gain distributions.............................                  --                    --                     --
      Realized gains (losses) on sale of investments..........             204,230               144,847                 71,403
                                                               -------------------    ------------------    -------------------
          Net realized gains (losses).........................             204,230               144,847                 71,403
                                                               -------------------    ------------------    -------------------
      Change in unrealized gains (losses) on investments......           1,584,984                64,600              1,196,007
                                                               -------------------    ------------------    -------------------
      Net realized and changes in unrealized gains (losses)                                                                    
        on investments........................................           1,789,214               209,447              1,267,410
                                                               -------------------    ------------------    -------------------
      Net increase (decrease) in net assets resulting                                                                          
        from operations....................................... $         2,648,232    $        1,387,130    $         2,572,838
                                                               ===================    ==================    ===================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                     MSF WESTERN ASSET MANAGEMENT U.S. GOVERNMENT          
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $          348,936    $          248,608    $          448,826
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................             18,045                18,708                18,946
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................            330,891               229,900               429,880
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................                 --               570,575                47,316
      Realized gains (losses) on sale of investments........             19,763               (5,603)                 1,727
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................             19,763               564,972                49,043
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....            185,906                82,587               435,726
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................            205,669               647,559               484,769
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $          536,560    $          877,459    $          914,649
                                                             ==================    ==================    ==================



                                                                                                           PIMCO VIT       
                                                                                                        LONG-TERM U.S.     
                                                                       PIMCO VIT ALL ASSET                GOVERNMENT       
                                                                       INVESTMENT DIVISION            INVESTMENT DIVISION  
                                                             ---------------------------------------- -------------------  
                                                                    2012                2011 (d)           2012 (g)        
                                                             ------------------    ------------------ -------------------  
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $            6,301    $            2,796 $              232   
                                                             ------------------    ------------------ -------------------  
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                 --   
                                                             ------------------    ------------------ -------------------  
          Net investment income (loss)......................              6,301                 2,796                232   
                                                             ------------------    ------------------ -------------------  
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................                 --                    --              2,934   
      Realized gains (losses) on sale of investments........                190                    --                (2)   
                                                             ------------------    ------------------ -------------------  
          Net realized gains (losses).......................                190                    --              2,932   
                                                             ------------------    ------------------ -------------------  
      Change in unrealized gains (losses) on investments....              8,832               (1,176)            (2,899)   
                                                             ------------------    ------------------ -------------------  
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................              9,022               (1,176)                 33   
                                                             ------------------    ------------------ -------------------  
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $           15,323    $            1,620 $              265   
                                                             ==================    ================== ===================  



                                                                               PIMCO VIT LOW DURATION                      
                                                                                 INVESTMENT DIVISION                       
                                                             ------------------------------------------------------------- 
                                                                    2012                 2011                  2010        
                                                             ------------------   ------------------    ------------------ 
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $           18,366   $           13,732    $           12,187 
                                                             ------------------   ------------------    ------------------ 
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                   --                    -- 
                                                             ------------------   ------------------    ------------------ 
          Net investment income (loss)......................             18,366               13,732                12,187 
                                                             ------------------   ------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................                 --                   --                 2,469 
      Realized gains (losses) on sale of investments........              1,749                  618                   260 
                                                             ------------------   ------------------    ------------------ 
          Net realized gains (losses).......................              1,749                  618                 2,729 
                                                             ------------------   ------------------    ------------------ 
      Change in unrealized gains (losses) on investments....             34,493              (6,243)                23,685 
                                                             ------------------   ------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................             36,242              (5,625)                26,414 
                                                             ------------------   ------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $           54,608   $            8,107    $           38,601 
                                                             ==================   ==================    ================== 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                              PIONEER VCT EMERGING MARKETS                   
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $            1,600    $               --    $            3,039 
                                                              ------------------    ------------------    ------------------ 
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                 --                    --                    -- 
                                                              ------------------    ------------------    ------------------ 
          Net investment income (loss).......................              1,600                    --                 3,039 
                                                              ------------------    ------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................             23,672                    --                    -- 
      Realized gains (losses) on sale of investments.........            (1,297)               121,447                75,682 
                                                              ------------------    ------------------    ------------------ 
          Net realized gains (losses)........................             22,375               121,447                75,682 
                                                              ------------------    ------------------    ------------------ 
      Change in unrealized gains (losses) on investments.....             20,209             (327,299)                68,690 
                                                              ------------------    ------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................             42,584             (205,852)               144,372 
                                                              ------------------    ------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $           44,184    $        (205,852)    $          147,411 
                                                              ==================    ==================    ================== 



                                                                                PIONEER VCT MID CAP VALUE                    
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $            1,561    $            1,190    $              801 
                                                              ------------------    ------------------    ------------------ 
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                 --                    --                    -- 
                                                              ------------------    ------------------    ------------------ 
          Net investment income (loss).......................              1,561                 1,190                   801 
                                                              ------------------    ------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                 --                    --                    -- 
      Realized gains (losses) on sale of investments.........                595                   580                   313 
                                                              ------------------    ------------------    ------------------ 
          Net realized gains (losses)........................                595                   580                   313 
                                                              ------------------    ------------------    ------------------ 
      Change in unrealized gains (losses) on investments.....             12,468              (11,556)                14,039 
                                                              ------------------    ------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................             13,063              (10,976)                14,352 
                                                              ------------------    ------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $           14,624    $          (9,786)    $           15,153 
                                                              ==================    ==================    ================== 



                                                                                      ROYCE MICRO-CAP                        
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                      2012                  2011                2010 (a)     
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $                --    $            8,331    $            5,659
                                                              -------------------    ------------------    ------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                  --                    --                    --
                                                              -------------------    ------------------    ------------------
          Net investment income (loss).......................                  --                 8,331                 5,659
                                                              -------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................               8,060                    --                    --
      Realized gains (losses) on sale of investments.........               1,017                 1,545                   197
                                                              -------------------    ------------------    ------------------
          Net realized gains (losses)........................               9,077                 1,545                   197
                                                              -------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....              15,667              (52,132)                61,964
                                                              -------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................              24,744              (50,587)                62,161
                                                              -------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $            24,744    $         (42,256)    $           67,820
                                                              ===================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONTINUED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                     ROYCE SMALL-CAP                         
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $              586    $            3,804    $              425 
                                                              ------------------    ------------------    ------------------ 
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                 --                    --                    -- 
                                                              ------------------    ------------------    ------------------ 
          Net investment income (loss).......................                586                 3,804                   425 
                                                              ------------------    ------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................             13,477                    --                    -- 
      Realized gains (losses) on sale of investments.........             22,187                18,080                 2,111 
                                                              ------------------    ------------------    ------------------ 
          Net realized gains (losses)........................             35,664                18,080                 2,111 
                                                              ------------------    ------------------    ------------------ 
      Change in unrealized gains (losses) on investments.....             34,489              (64,398)                63,066 
                                                              ------------------    ------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................             70,153              (46,318)                65,177 
                                                              ------------------    ------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $           70,739    $         (42,514)    $           65,602 
                                                              ==================    ==================    ================== 



                                                                                 UIF EMERGING MARKETS DEBT                   
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                     2012                   2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $            16,821    $            7,775    $              318
                                                              -------------------    ------------------    ------------------
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                  --                    --                    --
                                                              -------------------    ------------------    ------------------
          Net investment income (loss).......................              16,821                 7,775                   318
                                                              -------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                  --                 2,422                    --
      Realized gains (losses) on sale of investments.........               2,466                   392                    87
                                                              -------------------    ------------------    ------------------
          Net realized gains (losses)........................               2,466                 2,814                    87
                                                              -------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments.....              89,788                    79                   318
                                                              -------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................              92,254                 2,893                   405
                                                              -------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $           109,075    $           10,668    $              723
                                                              ===================    ==================    ==================



                                                                               UIF EMERGING MARKETS EQUITY                   
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INVESTMENT INCOME:                                                                                                           
      Dividends.............................................. $               --    $            1,515    $              758 
                                                              ------------------    ------------------    ------------------ 
EXPENSES:                                                                                                                    
      Mortality and expense risk charges.....................                 --                    --                    -- 
                                                              ------------------    ------------------    ------------------ 
          Net investment income (loss).......................                 --                 1,515                   758 
                                                              ------------------    ------------------    ------------------ 
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                        
   ON INVESTMENTS:                                                                                                           
      Realized gain distributions............................                 --                    --                    -- 
      Realized gains (losses) on sale of investments.........               (26)                 4,478                   899 
                                                              ------------------    ------------------    ------------------ 
          Net realized gains (losses)........................               (26)                 4,478                   899 
                                                              ------------------    ------------------    ------------------ 
      Change in unrealized gains (losses) on investments.....            139,206              (99,779)                38,992 
                                                              ------------------    ------------------    ------------------ 
      Net realized and changes in unrealized gains (losses)                                                                  
        on investments.......................................            139,180              (95,301)                39,891 
                                                              ------------------    ------------------    ------------------ 
      Net increase (decrease) in net assets resulting                                                                        
        from operations...................................... $          139,180    $         (93,786)    $           40,649 
                                                              ==================    ==================    ================== 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF OPERATIONS -- (CONCLUDED)   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                           WELLS FARGO VT TOTAL RETURN BOND                
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INVESTMENT INCOME:                                                                                                         
      Dividends............................................. $            4,369    $           18,903    $           29,774
                                                             ------------------    ------------------    ------------------
EXPENSES:                                                                                                                  
      Mortality and expense risk charges....................                 --                    --                    --
                                                             ------------------    ------------------    ------------------
          Net investment income (loss)......................              4,369                18,903                29,774
                                                             ------------------    ------------------    ------------------
NET REALIZED AND CHANGES IN UNREALIZED GAINS (LOSSES)                                                                      
   ON INVESTMENTS:                                                                                                         
      Realized gain distributions...........................              6,160                30,313                23,602
      Realized gains (losses) on sale of investments........              1,595                15,483                10,857
                                                             ------------------    ------------------    ------------------
          Net realized gains (losses).......................              7,755                45,796                34,459
                                                             ------------------    ------------------    ------------------
      Change in unrealized gains (losses) on investments....              5,968               (7,169)              (12,496)
                                                             ------------------    ------------------    ------------------
      Net realized and changes in unrealized gains (losses)                                                                
        on investments......................................             13,723                38,627                21,963
                                                             ------------------    ------------------    ------------------
      Net increase (decrease) in net assets resulting                                                                      
        from operations..................................... $           18,092    $           57,530    $           51,737
                                                             ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS   
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                       ALLIANCEBERNSTEIN GLOBAL THEMATIC GROWTH            
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $               --    $           18,192    $            1,486
   Net realized gains (losses)..............................        (1,307,724)              (40,514)                 8,379
   Change in unrealized gains (losses) on investments.......          1,419,031           (1,444,286)                 1,480
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................            111,307           (1,466,608)                11,345
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............              4,561                 6,425                 1,269
   Net transfers (including fixed account)..................        (4,345,166)             5,890,970              (20,468)
   Policy charges...........................................            (2,096)             (229,188)               (2,162)
   Transfers for policy benefits and terminations...........              (445)              (27,392)                    --
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................        (4,343,146)             5,640,815              (21,361)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................        (4,231,839)             4,174,207              (10,016)
NET ASSETS:                                                                                                                
   Beginning of year........................................          4,293,695               119,488               129,504
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $           61,856    $        4,293,695    $          119,488
                                                             ==================    ==================    ==================


                                                                         ALLIANCEBERNSTEIN INTERMEDIATE BOND               
                                                                                 INVESTMENT DIVISION                       
                                                             ------------------------------------------------------------- 
                                                                    2012                 2011                  2010        
                                                             ------------------   ------------------    ------------------ 
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $            2,404   $            2,097    $            2,177 
   Net realized gains (losses)..............................              1,787                  184                 2,172 
   Change in unrealized gains (losses) on investments.......              (188)                  563               (1,393) 
                                                             ------------------   ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................              4,003                2,844                 2,956 
                                                             ------------------   ------------------    ------------------ 
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............              8,926                2,678                 3,570 
   Net transfers (including fixed account)..................             44,909                   --                 9,880 
   Policy charges...........................................            (1,818)              (1,493)               (1,194) 
   Transfers for policy benefits and terminations...........                (6)                  (8)                 (255) 
                                                             ------------------   ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................             52,011                1,177                12,001 
                                                             ------------------   ------------------    ------------------ 
     Net increase (decrease) in net assets..................             56,014                4,021                14,957 
NET ASSETS:                                                                                                                
   Beginning of year........................................             47,286               43,265                28,308 
                                                             ------------------   ------------------    ------------------ 
   End of year.............................................. $          103,300   $           47,286    $           43,265 
                                                             ==================   ==================    ================== 


                                                                         ALLIANCEBERNSTEIN INTERNATIONAL VALUE             
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                2010 (a)     
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $                2    $            (160)    $               31
   Net realized gains (losses)..............................                (1)                   175                     1
   Change in unrealized gains (losses) on investments.......                 17                 (129)                    88
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................                 18                 (114)                   120
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............                 --                   268                    --
   Net transfers (including fixed account)..................                  2               (1,225)                 1,252
   Policy charges...........................................                (5)                  (24)                  (15)
   Transfers for policy benefits and terminations...........                 --                 (121)                    --
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................                (3)               (1,102)                 1,237
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................                 15               (1,216)                 1,357
NET ASSETS:                                                                                                                
   Beginning of year........................................                141                 1,357                    --
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $              156    $              141    $            1,357
                                                             ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                                AMERICAN CENTURY VP VISTA                   
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $               --    $               --    $               --
   Net realized gains (losses)...............................                328                 5,995                12,351
   Change in unrealized gains (losses) on investments........                873               (8,184)               (1,947)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................              1,201               (2,189)                10,404
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............                 --                11,044                13,202
   Net transfers (including fixed account)...................                870              (72,025)              (83,499)
   Policy charges............................................              (954)               (2,331)               (3,069)
   Transfers for policy benefits and terminations............            (5,666)                    --               (9,338)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................            (5,750)              (63,312)              (82,704)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................            (4,549)              (65,501)              (72,300)
NET ASSETS:                                                                                                                 
   Beginning of year.........................................              8,654                74,155               146,455
                                                              ------------------    ------------------    ------------------
   End of year............................................... $            4,105    $            8,654    $           74,155
                                                              ==================    ==================    ==================


                                                                                   AMERICAN FUNDS BOND                      
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $          123,941    $          132,520    $          119,188
   Net realized gains (losses)...............................             27,506                10,695               (8,911)
   Change in unrealized gains (losses) on investments........            108,693               121,054               122,161
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................            260,140               264,269               232,438
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............            681,465               678,665               724,857
   Net transfers (including fixed account)...................            491,460                53,187               320,665
   Policy charges............................................          (388,415)             (360,088)             (355,054)
   Transfers for policy benefits and terminations............          (359,799)             (265,605)             (318,517)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................            424,711               106,159               371,951
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................            684,851               370,428               604,389
NET ASSETS:                                                                                                                 
   Beginning of year.........................................          4,735,459             4,365,031             3,760,642
                                                              ------------------    ------------------    ------------------
   End of year............................................... $        5,420,310    $        4,735,459    $        4,365,031
                                                              ==================    ==================    ==================


                                                                       AMERICAN FUNDS GLOBAL SMALL CAPITALIZATION           
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $          681,533    $          727,300    $          939,977
   Net realized gains (losses)...............................          (342,892)              (68,423)             (386,466)
   Change in unrealized gains (losses) on investments........          9,028,936          (13,188,181)            11,810,164
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................          9,367,577          (12,529,304)            12,363,675
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          6,754,997             7,605,640             8,529,505
   Net transfers (including fixed account)...................        (1,743,129)           (1,805,503)             (976,366)
   Policy charges............................................        (3,801,507)           (4,142,061)           (4,451,588)
   Transfers for policy benefits and terminations............        (3,815,121)           (4,059,136)           (4,114,157)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................        (2,604,760)           (2,401,060)           (1,012,606)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          6,762,817          (14,930,364)            11,351,069
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         52,474,989            67,405,353            56,054,284
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       59,237,806    $       52,474,989    $       67,405,353
                                                              ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                    AMERICAN FUNDS GROWTH                
                                                                                     INVESTMENT DIVISION                 
                                                                     ----------------------------------------------------
                                                                           2012              2011              2010      
                                                                     ----------------  ----------------  ----------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)..................................... $        879,818  $        630,009  $        700,076
   Net realized gains (losses)......................................        1,170,827           658,869         (328,082)
   Change in unrealized gains (losses) on investments...............       18,556,699       (6,628,058)        19,817,938
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations..............................................       20,607,344       (5,339,180)        20,189,932
                                                                     ----------------  ----------------  ----------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners.....................       13,860,300        15,130,932        16,677,167
   Net transfers (including fixed account)..........................      (3,812,042)       (1,178,160)       (1,005,842)
   Policy charges...................................................      (8,845,036)       (9,007,053)       (9,003,630)
   Transfers for policy benefits and terminations...................      (9,088,854)       (8,844,884)       (8,617,264)
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions.....................................      (7,885,632)       (3,899,165)       (1,949,569)
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets..........................       12,721,712       (9,238,345)        18,240,363
NET ASSETS:                                                                                                              
   Beginning of year................................................      118,199,510       127,437,855       109,197,492
                                                                     ----------------  ----------------  ----------------
   End of year...................................................... $    130,921,222  $    118,199,510  $    127,437,855
                                                                     ================  ================  ================



                                                                                AMERICAN FUNDS GROWTH-INCOME             
                                                                                     INVESTMENT DIVISION                 
                                                                     ----------------------------------------------------
                                                                           2012              2011              2010      
                                                                     ----------------  ----------------  ----------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)..................................... $      1,175,138  $      1,070,960  $        943,129
   Net realized gains (losses)......................................          300,932          (58,726)         (336,443)
   Change in unrealized gains (losses) on investments...............       10,629,027       (2,428,568)         6,948,053
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations..............................................       12,105,097       (1,416,334)         7,554,739
                                                                     ----------------  ----------------  ----------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners.....................        8,728,377         9,556,841        10,334,758
   Net transfers (including fixed account)..........................      (1,135,580)         (457,407)         (240,405)
   Policy charges...................................................      (5,615,768)       (5,547,870)       (5,606,668)
   Transfers for policy benefits and terminations...................      (5,724,226)       (4,739,607)       (4,718,644)
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions.....................................      (3,747,197)       (1,188,043)         (230,959)
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets..........................        8,357,900       (2,604,377)         7,323,780
NET ASSETS:                                                                                                              
   Beginning of year................................................       71,256,817        73,861,194        66,537,414
                                                                     ----------------  ----------------  ----------------
   End of year...................................................... $     79,614,717  $     71,256,817  $     73,861,194
                                                                     ================  ================  ================


                                                                       AMERICAN FUNDS                                    
                                                                      HIGH-INCOME BOND                                   
                                                                     INVESTMENT DIVISION                                 
                                                                     -------------------                                 
                                                                          2012 (b)                                       
                                                                     -------------------                                 
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss).....................................   $         3,203                                   
   Net realized gains (losses)......................................                 6                                   
   Change in unrealized gains (losses) on investments...............             (677)                                   
                                                                     -------------------                                 
     Net increase (decrease) in net assets resulting                                                                     
       from operations..............................................             2,532                                   
                                                                     -------------------                                 
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners.....................                --                                   
   Net transfers (including fixed account)..........................            54,888                                   
   Policy charges...................................................             (181)                                   
   Transfers for policy benefits and terminations...................               (8)                                   
                                                                     -------------------                                 
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions.....................................            54,699                                   
                                                                     -------------------                                 
     Net increase (decrease) in net assets..........................            57,231                                   
NET ASSETS:                                                                                                              
   Beginning of year................................................                --                                   
                                                                     -------------------                                 
   End of year......................................................   $        57,231                                   
                                                                     ===================                                 



                                                                                AMERICAN FUNDS INTERNATIONAL             
                                                                                     INVESTMENT DIVISION                 
                                                                     ----------------------------------------------------
                                                                           2012              2011              2010      
                                                                     ----------------  ----------------  ----------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)..................................... $          7,535  $         10,736  $         13,328
   Net realized gains (losses)......................................          (1,402)             (605)             (608)
   Change in unrealized gains (losses) on investments...............           82,398         (108,507)            46,566
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations..............................................           88,531          (98,376)            59,286
                                                                     ----------------  ----------------  ----------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners.....................           46,649             4,120           196,875
   Net transfers (including fixed account)..........................         (25,495)          (89,752)           113,293
   Policy charges...................................................         (12,774)          (18,135)          (17,235)
   Transfers for policy benefits and terminations...................         (69,569)          (82,771)           (7,938)
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions.....................................         (61,189)         (186,538)           284,995
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets..........................           27,342         (284,914)           344,281
NET ASSETS:                                                                                                              
   Beginning of year................................................          524,711           809,625           465,344
                                                                     ----------------  ----------------  ----------------
   End of year...................................................... $        552,053  $        524,711  $        809,625
                                                                     ================  ================  ================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                    AMERICAN FUNDS U.S. GOVERNMENT/AAA-RATED SECURITIES      
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                     2012                   2011                  2010       
                                                              ------------------    -------------------    ------------------
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $              440    $               773    $              683
   Net realized gains (losses)...............................              1,510                  1,620                   643
   Change in unrealized gains (losses) on investments........            (1,126)                    885                 1,804
                                                              ------------------    -------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................                824                  3,278                 3,130
                                                              ------------------    -------------------    ------------------
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............              6,275                 18,071                 7,825
   Net transfers (including fixed account)...................                 --                (2,592)              (50,106)
   Policy charges............................................            (1,867)                (9,064)              (10,685)
   Transfers for policy benefits and terminations............            (5,579)                (1,984)               (2,565)
                                                              ------------------    -------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................            (1,171)                  4,431              (55,531)
                                                              ------------------    -------------------    ------------------
     Net increase (decrease) in net assets...................              (347)                  7,709              (52,401)
NET ASSETS:                                                                                                                  
   Beginning of year.........................................             45,539                 37,830                90,231
                                                              ------------------    -------------------    ------------------
   End of year............................................... $           45,192    $            45,539    $           37,830
                                                              ==================    ===================    ==================


                                                                              DREYFUS VIF INTERNATIONAL VALUE                
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                      2012                  2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $             4,882    $            4,085    $            3,367
   Net realized gains (losses)...............................             (1,011)                 (960)              (14,086)
   Change in unrealized gains (losses) on investments........              18,857              (45,726)                19,382
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................              22,728              (42,601)                 8,663
                                                              -------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............                 895                 1,458                   955
   Net transfers (including fixed account)...................                   6               (1,532)              (65,938)
   Policy charges............................................             (2,557)               (3,962)               (3,958)
   Transfers for policy benefits and terminations............                  --                 (766)                    --
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................             (1,656)               (4,802)              (68,941)
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................              21,072              (47,403)              (60,278)
NET ASSETS:                                                                                                                  
   Beginning of year.........................................             184,061               231,464               291,742
                                                              -------------------    ------------------    ------------------
   End of year............................................... $           205,133    $          184,061    $          231,464
                                                              ===================    ==================    ==================


                                                                           FIDELITY VIP ASSET MANAGER: GROWTH                
                                                                                   INVESTMENT DIVISION                       
                                                              ---------------------------------------------------------------
                                                                     2012                  2011                   2010       
                                                              ------------------    -------------------    ------------------
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $           24,972    $            23,605    $           19,264
   Net realized gains (losses)...............................             35,697                 74,260                37,274
   Change in unrealized gains (losses) on investments........            172,026              (205,700)               201,872
                                                              ------------------    -------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................            232,695              (107,835)               258,410
                                                              ------------------    -------------------    ------------------
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............            122,067                182,388               168,558
   Net transfers (including fixed account)...................            249,730               (79,369)              (53,668)
   Policy charges............................................           (68,776)               (78,031)              (69,353)
   Transfers for policy benefits and terminations............                 --              (392,245)             (120,774)
                                                              ------------------    -------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................            303,021              (367,257)              (75,237)
                                                              ------------------    -------------------    ------------------
     Net increase (decrease) in net assets...................            535,716              (475,092)               183,173
NET ASSETS:                                                                                                                  
   Beginning of year.........................................          1,430,516              1,905,608             1,722,435
                                                              ------------------    -------------------    ------------------
   End of year............................................... $        1,966,232    $         1,430,516    $        1,905,608
                                                              ==================    ===================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                               FIDELITY VIP CONTRAFUND                     
                                                                                 INVESTMENT DIVISION                       
                                                             ------------------------------------------------------------- 
                                                                    2012                 2011                  2010        
                                                             ------------------   ------------------    ------------------ 
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $           28,837   $           20,916    $           27,427 
   Net realized gains (losses)..............................             38,806               12,745             (217,628) 
   Change in unrealized gains (losses) on investments.......            288,092             (98,141)               648,547 
                                                             ------------------   ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................            355,735             (64,480)               458,346 
                                                             ------------------   ------------------    ------------------ 
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............            127,751              206,289               166,923 
   Net transfers (including fixed account)..................           (78,043)            (243,464)           (1,821,221) 
   Policy charges...........................................           (99,800)            (104,834)             (104,054) 
   Transfers for policy benefits and terminations...........          (114,270)            (319,235)              (10,806) 
                                                             ------------------   ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................          (164,362)            (461,244)           (1,769,158) 
                                                             ------------------   ------------------    ------------------ 
     Net increase (decrease) in net assets..................            191,373            (525,724)           (1,310,812) 
NET ASSETS:                                                                                                                
   Beginning of year........................................          2,151,649            2,677,373             3,988,185 
                                                             ------------------   ------------------    ------------------ 
   End of year.............................................. $        2,343,022   $        2,151,649    $        2,677,373 
                                                             ==================   ==================    ================== 


                                                                              FIDELITY VIP EQUITY-INCOME                   
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $            1,836    $              637    $            3,327
   Net realized gains (losses)..............................              3,239                 2,625               (5,418)
   Change in unrealized gains (losses) on investments.......            (1,146)               (8,921)                31,745
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................              3,929               (5,659)                29,654
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............              1,366                26,285                37,251
   Net transfers (including fixed account)..................             39,024              (55,376)             (103,500)
   Policy charges...........................................              (617)               (4,868)               (6,481)
   Transfers for policy benefits and terminations...........                 --             (144,483)                    --
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................             39,773             (178,442)              (72,730)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................             43,702             (184,101)              (43,076)
NET ASSETS:                                                                                                                
   Beginning of year........................................             18,589               202,690               245,766
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $           62,291    $           18,589    $          202,690
                                                             ==================    ==================    ==================


                                                                              FIDELITY VIP FREEDOM 2010                    
                                                                                 INVESTMENT DIVISION                       
                                                             ------------------------------------------------------------- 
                                                                    2012                 2011                  2010        
                                                             -----------------    ------------------    ------------------ 
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $             564    $              576    $              545 
   Net realized gains (losses)..............................               633                 1,481                   537 
   Change in unrealized gains (losses) on investments.......             2,707               (2,344)                 2,036 
                                                             -----------------    ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................             3,904                 (287)                 3,118 
                                                             -----------------    ------------------    ------------------ 
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............             2,629                 2,823                 2,793 
   Net transfers (including fixed account)..................               210                   884                12,520 
   Policy charges...........................................                --                    --                    -- 
   Transfers for policy benefits and terminations...........           (1,249)               (1,136)               (1,119) 
                                                             -----------------    ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................             1,590                 2,571                14,194 
                                                             -----------------    ------------------    ------------------ 
     Net increase (decrease) in net assets..................             5,494                 2,284                17,312 
NET ASSETS:                                                                                                                
   Beginning of year........................................            34,144                31,860                14,548 
                                                             -----------------    ------------------    ------------------ 
   End of year.............................................. $          39,638    $           34,144    $           31,860 
                                                             =================    ==================    ================== 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                              FIDELITY VIP FREEDOM 2020                   
                                                                                 INVESTMENT DIVISION                      
                                                             -------------------------------------------------------------
                                                                   2012                  2011                  2010       
                                                             -----------------    ------------------    ------------------
                                                                                                                          
INCREASE (DECREASE) IN NET ASSETS:                                                                                        
FROM OPERATIONS:                                                                                                          
   Net investment income (loss)............................. $          14,905    $           15,048    $           14,881
   Net realized gains (losses)..............................            14,637                12,805                 8,278
   Change in unrealized gains (losses) on investments.......            62,352              (33,543)                70,032
                                                             -----------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                      
       from operations......................................            91,894               (5,690)                93,191
                                                             -----------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                      
   Premium payments received from policy owners.............            13,429                12,681                10,953
   Net transfers (including fixed account)..................          (20,603)                33,211                 1,108
   Policy charges...........................................          (10,886)              (10,197)               (9,499)
   Transfers for policy benefits and terminations...........           (8,824)              (68,993)               (5,562)
                                                             -----------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                      
       from policy transactions.............................          (26,884)              (33,298)               (3,000)
                                                             -----------------    ------------------    ------------------
     Net increase (decrease) in net assets..................            65,010              (38,988)                90,191
NET ASSETS:                                                                                                               
   Beginning of year........................................           699,714               738,702               648,511
                                                             -----------------    ------------------    ------------------
   End of year.............................................. $         764,724    $          699,714    $          738,702
                                                             =================    ==================    ==================


                                                                               FIDELITY VIP FREEDOM 2030                  
                                                                                  INVESTMENT DIVISION                     
                                                             -------------------------------------------------------------
                                                                    2012                  2011                  2010      
                                                             ------------------    ------------------    -----------------
                                                                                                                          
INCREASE (DECREASE) IN NET ASSETS:                                                                                        
FROM OPERATIONS:                                                                                                          
   Net investment income (loss)............................. $              665    $            1,018    $           1,885
   Net realized gains (losses)..............................              3,280                11,923                1,390
   Change in unrealized gains (losses) on investments.......              3,591              (12,843)               11,839
                                                             ------------------    ------------------    -----------------
     Net increase (decrease) in net assets resulting                                                                      
       from operations......................................              7,536                    98               15,114
                                                             ------------------    ------------------    -----------------
POLICY TRANSACTIONS:                                                                                                      
   Premium payments received from policy owners.............              1,320                 2,634                3,169
   Net transfers (including fixed account)..................           (21,760)              (51,129)               62,506
   Policy charges...........................................                 --                 (455)              (1,273)
   Transfers for policy benefits and terminations...........            (1,232)               (2,369)              (3,063)
                                                             ------------------    ------------------    -----------------
     Net increase (decrease) in net assets resulting                                                                      
       from policy transactions.............................           (21,672)              (51,319)               61,339
                                                             ------------------    ------------------    -----------------
     Net increase (decrease) in net assets..................           (14,136)              (51,221)               76,453
NET ASSETS:                                                                                                               
   Beginning of year........................................             56,970               108,191               31,738
                                                             ------------------    ------------------    -----------------
   End of year.............................................. $           42,834    $           56,970    $         108,191
                                                             ==================    ==================    =================


                                                                     FIDELITY VIP FREEDOM 2050                            
                                                                        INVESTMENT DIVISION                               
                                                             ----------------------------------------                     
                                                                    2012                2011 (c)                          
                                                             ------------------    ------------------                     
                                                                                                                          
INCREASE (DECREASE) IN NET ASSETS:                                                                                        
FROM OPERATIONS:                                                                                                          
   Net investment income (loss)............................. $              283    $              228                     
   Net realized gains (losses)..............................              2,160               (3,654)                     
   Change in unrealized gains (losses) on investments.......                199                 1,450                     
                                                             ------------------    ------------------                     
     Net increase (decrease) in net assets resulting                                                                      
       from operations......................................              2,642               (1,976)                     
                                                             ------------------    ------------------                     
POLICY TRANSACTIONS:                                                                                                      
   Premium payments received from policy owners.............                 --                    --                     
   Net transfers (including fixed account)..................                 --                17,414                     
   Policy charges...........................................                 --                    --                     
   Transfers for policy benefits and terminations...........              (281)                    --                     
                                                             ------------------    ------------------                     
     Net increase (decrease) in net assets resulting                                                                      
       from policy transactions.............................              (281)                17,414                     
                                                             ------------------    ------------------                     
     Net increase (decrease) in net assets..................              2,361                15,438                     
NET ASSETS:                                                                                                               
   Beginning of year........................................             15,438                    --                     
                                                             ------------------    ------------------                     
   End of year.............................................. $           17,799    $           15,438                     
                                                             ==================    ==================                     

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                             FIDELITY VIP HIGH INCOME                    
                                                                                INVESTMENT DIVISION                      
                                                            -------------------------------------------------------------
                                                                   2012                 2011                  2010       
                                                            ------------------    -----------------    ------------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $            9,229    $           2,953    $              340
   Net realized gains (losses).............................                 67                   13                 (227)
   Change in unrealized gains (losses) on investments......            (1,277)              (1,768)                   801
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................              8,019                1,198                   914
                                                            ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............              1,301                3,335                    --
   Net transfers (including fixed account).................            115,054               34,562              (36,834)
   Policy charges..........................................            (2,451)                (357)                 (282)
   Transfers for policy benefits and terminations..........                 --                 (80)                 (148)
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................            113,904               37,460              (37,264)
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets.................            121,923               38,658              (36,350)
NET ASSETS:                                                                                                              
   Beginning of year.......................................             43,223                4,565                40,915
                                                            ------------------    -----------------    ------------------
   End of year............................................. $          165,146    $          43,223    $            4,565
                                                            ==================    =================    ==================


                                                                         FIDELITY VIP INVESTMENT GRADE BOND              
                                                                                 INVESTMENT DIVISION                     
                                                            -------------------------------------------------------------
                                                                   2012                  2011                 2010       
                                                            ------------------    ------------------   ------------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $           37,562    $           54,637   $           18,206
   Net realized gains (losses).............................             81,674                21,189               23,465
   Change in unrealized gains (losses) on investments......            (8,975)                 1,742             (13,312)
                                                            ------------------    ------------------   ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................            110,261                77,568               28,359
                                                            ------------------    ------------------   ------------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............                829                 1,122                  829
   Net transfers (including fixed account).................            464,291             1,150,764              281,430
   Policy charges..........................................           (27,932)              (16,946)              (9,224)
   Transfers for policy benefits and terminations..........            (9,509)                    --                   --
                                                            ------------------    ------------------   ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................            427,679             1,134,940              273,035
                                                            ------------------    ------------------   ------------------
     Net increase (decrease) in net assets.................            537,940             1,212,508              301,394
NET ASSETS:                                                                                                              
   Beginning of year.......................................          1,747,852               535,344              233,950
                                                            ------------------    ------------------   ------------------
   End of year............................................. $        2,285,792    $        1,747,852   $          535,344
                                                            ==================    ==================   ==================


                                                                               FIDELITY VIP MID CAP                      
                                                                                INVESTMENT DIVISION                      
                                                            -------------------------------------------------------------
                                                                   2012                 2011                  2010       
                                                            ------------------   ------------------    ------------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $            2,865   $              150    $              502
   Net realized gains (losses).............................             67,641               12,027                 3,104
   Change in unrealized gains (losses) on investments......             20,392             (60,535)                83,723
                                                            ------------------   ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................             90,898             (48,358)                87,329
                                                            ------------------   ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............             78,618                5,952                95,232
   Net transfers (including fixed account).................             25,075              253,173                77,140
   Policy charges..........................................           (15,222)             (11,223)               (9,033)
   Transfers for policy benefits and terminations..........           (44,408)             (47,617)               (4,506)
                                                            ------------------   ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................             44,063              200,285               158,833
                                                            ------------------   ------------------    ------------------
     Net increase (decrease) in net assets.................            134,961              151,927               246,162
NET ASSETS:                                                                                                              
   Beginning of year.......................................            613,958              462,031               215,869
                                                            ------------------   ------------------    ------------------
   End of year............................................. $          748,919   $          613,958    $          462,031
                                                            ==================   ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                       FTVIPT MUTUAL GLOBAL DISCOVERY SECURITIES           
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $           21,682    $           22,691    $           10,103
   Net realized gains (losses)..............................             49,608                 1,929               (4,189)
   Change in unrealized gains (losses) on investments.......             33,439              (59,670)                81,592
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................            104,729              (35,050)                87,506
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............             83,607                53,641                97,464
   Net transfers (including fixed account)..................           (97,388)               113,146              (79,267)
   Policy charges...........................................           (22,528)              (24,225)              (20,745)
   Transfers for policy benefits and terminations...........           (49,079)             (291,009)                 (141)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................           (85,388)             (148,447)               (2,689)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................             19,341             (183,497)                84,817
NET ASSETS:                                                                                                                
   Beginning of year........................................            783,835               967,332               882,515
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $          803,176    $          783,835    $          967,332
                                                             ==================    ==================    ==================


                                                                          FTVIPT TEMPLETON FOREIGN SECURITIES              
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $          115,174    $           89,150    $          164,170
   Net realized gains (losses)..............................           (16,852)               253,750              (50,450)
   Change in unrealized gains (losses) on investments.......            501,451             (552,735)               614,425
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................            599,773             (209,835)               728,145
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............            303,212               379,032               834,212
   Net transfers (including fixed account)..................            178,098           (5,636,582)               220,184
   Policy charges...........................................          (140,398)             (243,478)             (404,941)
   Transfers for policy benefits and terminations...........                 --             (512,046)              (68,047)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................            340,912           (6,013,074)               581,408
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................            940,685           (6,222,909)             1,309,553
NET ASSETS:                                                                                                                
   Beginning of year........................................          3,021,785             9,244,694             7,935,141
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $        3,962,470    $        3,021,785    $        9,244,694
                                                             ==================    ==================    ==================


                                                                        FTVIPT TEMPLETON GLOBAL BOND SECURITIES            
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $           24,244    $           10,824    $               60
   Net realized gains (losses)..............................                352              (11,299)                 4,601
   Change in unrealized gains (losses) on investments.......             26,566              (11,949)                 (171)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................             51,162              (12,424)                 4,490
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............             41,308                38,191                 9,303
   Net transfers (including fixed account)..................             73,730               482,861               (9,428)
   Policy charges...........................................           (10,633)               (7,628)                 (825)
   Transfers for policy benefits and terminations...........            (2,811)             (215,383)               (3,516)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................            101,594               298,041               (4,466)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................            152,756               285,617                    24
NET ASSETS:                                                                                                                
   Beginning of year........................................            289,345                 3,728                 3,704
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $          442,101    $          289,345    $            3,728
                                                             ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                                GOLDMAN SACHS MID-CAP VALUE                  
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                     2012                   2011                  2010       
                                                              -------------------   -------------------    ------------------
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $             2,932   $             2,221    $            2,264
   Net realized gains (losses)...............................               (683)              (27,627)              (13,608)
   Change in unrealized gains (losses) on investments........              45,178                 1,030                84,633
                                                              -------------------   -------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................              47,427              (24,376)                73,289
                                                              -------------------   -------------------    ------------------
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............                  --                    --                    --
   Net transfers (including fixed account)...................                  --                    --              (23,223)
   Policy charges............................................             (8,787)               (9,130)               (9,204)
   Transfers for policy benefits and terminations............            (48,734)              (65,335)               (2,114)
                                                              -------------------   -------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................            (57,521)              (74,465)              (34,541)
                                                              -------------------   -------------------    ------------------
     Net increase (decrease) in net assets...................            (10,094)              (98,841)                38,748
NET ASSETS:                                                                                                                  
   Beginning of year.........................................             268,248               367,089               328,341
                                                              -------------------   -------------------    ------------------
   End of year............................................... $           258,154   $           268,248    $          367,089
                                                              ===================   ===================    ==================


                                                                        GOLDMAN SACHS STRUCTURED SMALL CAP EQUITY            
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $              308    $              424    $              254 
   Net realized gains (losses)...............................              5,427                   175               (7,335) 
   Change in unrealized gains (losses) on investments........              (629)                 (255)                18,632 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................              5,106                   344                11,551 
                                                              ------------------    ------------------    ------------------ 
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............              4,965                   468                 4,077 
   Net transfers (including fixed account)...................           (32,037)                    --              (33,283) 
   Policy charges............................................            (1,976)               (1,804)               (1,601) 
   Transfers for policy benefits and terminations............                 --                   (1)                    -- 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................           (29,048)               (1,337)              (30,807) 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets...................           (23,942)                 (993)              (19,256) 
NET ASSETS:                                                                                                                  
   Beginning of year.........................................             50,259                51,252                70,508 
                                                              ------------------    ------------------    ------------------ 
   End of year............................................... $           26,317    $           50,259    $           51,252 
                                                              ==================    ==================    ================== 


                                                                              INVESCO V.I. GLOBAL REAL ESTATE                
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                     2012                   2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $            10,832    $           72,431    $           71,976
   Net realized gains (losses)...............................            (24,321)             (158,339)             (130,047)
   Change in unrealized gains (losses) on investments........             481,388              (44,519)               289,353
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................             467,899             (130,427)               231,282
                                                              -------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............              92,394                18,821                 3,708
   Net transfers (including fixed account)...................             676,565               131,727              (63,773)
   Policy charges............................................            (68,963)              (66,134)              (53,968)
   Transfers for policy benefits and terminations............            (43,803)              (60,454)              (26,660)
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................             656,193                23,960             (140,693)
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................           1,124,092             (106,467)                90,589
NET ASSETS:                                                                                                                  
   Beginning of year.........................................           1,490,644             1,597,111             1,506,522
                                                              -------------------    ------------------    ------------------
   End of year............................................... $         2,614,736    $        1,490,644    $        1,597,111
                                                              ===================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                        INVESCO V.I. GOVERNMENT SECURITIES                         
                                                                                INVESTMENT DIVISION                                
                                                                      ---------------------------------------                      
                                                                             2012                2011 (d)                          
                                                                      ------------------    -----------------                      
                                                                                                                                   
INCREASE (DECREASE) IN NET ASSETS:                                                                                                 
FROM OPERATIONS:                                                                                                                   
   Net investment income (loss)...................................... $               --    $              --                      
   Net realized gains (losses).......................................              1,308                1,389                      
   Change in unrealized gains (losses) on investments................            (1,335)                1,336                      
                                                                      ------------------    -----------------                      
     Net increase (decrease) in net assets resulting                                                                               
       from operations...............................................               (27)                2,725                      
                                                                      ------------------    -----------------                      
POLICY TRANSACTIONS:                                                                                                               
   Premium payments received from policy owners......................                 --                   --                      
   Net transfers (including fixed account)...........................           (21,034)               19,885                      
   Policy charges....................................................              (119)              (1,119)                      
   Transfers for policy benefits and terminations....................                 --                   --                      
                                                                      ------------------    -----------------                      
     Net increase (decrease) in net assets resulting                                                                               
       from policy transactions......................................           (21,153)               18,766                      
                                                                      ------------------    -----------------                      
     Net increase (decrease) in net assets...........................           (21,180)               21,491                      
NET ASSETS:                                                                                                                        
   Beginning of year.................................................             21,491                   --                      
                                                                      ------------------    -----------------                      
   End of year....................................................... $              311    $          21,491                      
                                                                      ==================    =================                      


                                                                                   INVESCO V.I. INTERNATIONAL GROWTH               
                                                                                          INVESTMENT DIVISION                      
                                                                      -------------------------------------------------------------
                                                                             2012                 2011                  2010       
                                                                      ------------------    -----------------    ------------------
                                                                                                                                   
INCREASE (DECREASE) IN NET ASSETS:                                                                                                 
FROM OPERATIONS:                                                                                                                   
   Net investment income (loss)...................................... $           90,329    $           3,660    $            4,364
   Net realized gains (losses).......................................             18,589                3,888                 1,465
   Change in unrealized gains (losses) on investments................            685,032             (28,330)                26,537
                                                                      ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                               
       from operations...............................................            793,950             (20,782)                32,366
                                                                      ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                               
   Premium payments received from policy owners......................          1,064,864                3,175                43,890
   Net transfers (including fixed account)...........................          4,933,992             (26,489)               184,805
   Policy charges....................................................          (310,061)              (6,987)               (5,205)
   Transfers for policy benefits and terminations....................                 --            (197,921)               (1,805)
                                                                      ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                               
       from policy transactions......................................          5,688,795            (228,222)               221,685
                                                                      ------------------    -----------------    ------------------
     Net increase (decrease) in net assets...........................          6,482,745            (249,004)               254,051
NET ASSETS:                                                                                                                        
   Beginning of year.................................................             23,407              272,411                18,360
                                                                      ------------------    -----------------    ------------------
   End of year....................................................... $        6,506,152    $          23,407    $          272,411
                                                                      ==================    =================    ==================


                                                                                   INVESCO V.I. VAN KAMPEN COMSTOCK                
                                                                                          INVESTMENT DIVISION                      
                                                                      -------------------------------------------------------------
                                                                             2012                 2011                2010 (e)     
                                                                      ------------------   ------------------    ------------------
                                                                                                                                   
INCREASE (DECREASE) IN NET ASSETS:                                                                                                 
FROM OPERATIONS:                                                                                                                   
   Net investment income (loss)...................................... $            3,483   $              489    $               --
   Net realized gains (losses).......................................              1,338                (127)                    53
   Change in unrealized gains (losses) on investments................             32,459              (6,181)                    45
                                                                      ------------------   ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                               
       from operations...............................................             37,280              (5,819)                    98
                                                                      ------------------   ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                               
   Premium payments received from policy owners......................             26,415               18,211                    --
   Net transfers (including fixed account)...........................           (11,358)              148,276                31,986
   Policy charges....................................................            (5,093)              (2,690)                    --
   Transfers for policy benefits and terminations....................                 --                   --                    --
                                                                      ------------------   ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                               
       from policy transactions......................................              9,964              163,797                31,986
                                                                      ------------------   ------------------    ------------------
     Net increase (decrease) in net assets...........................             47,244              157,978                32,084
NET ASSETS:                                                                                                                        
   Beginning of year.................................................            190,062               32,084                    --
                                                                      ------------------   ------------------    ------------------
   End of year....................................................... $          237,306   $          190,062    $           32,084
                                                                      ==================   ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                                 JANUS ASPEN BALANCED                      
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $           27,163    $           44,376    $           54,166
   Net realized gains (losses)..............................            115,247               137,912                26,581
   Change in unrealized gains (losses) on investments.......             25,664             (161,867)                90,252
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................            168,074                20,421               170,999
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............            153,325               105,004               500,783
   Net transfers (including fixed account)..................          (463,753)             (679,101)               426,734
   Policy charges...........................................           (37,906)              (57,528)              (54,051)
   Transfers for policy benefits and terminations...........           (58,979)             (575,867)               (8,070)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................          (407,313)           (1,207,492)               865,396
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................          (239,239)           (1,187,071)             1,036,395
NET ASSETS:                                                                                                                
   Beginning of year........................................          1,339,788             2,526,859             1,490,464
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $        1,100,549    $        1,339,788    $        2,526,859
                                                             ==================    ==================    ==================


                                                                                   JANUS ASPEN FORTY                       
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $            5,152    $            2,325    $            2,433
   Net realized gains (losses)..............................             38,660                43,353                14,051
   Change in unrealized gains (losses) on investments.......            126,343             (117,114)                47,707
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................            170,155              (71,436)                64,191
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............             86,108                58,591               190,160
   Net transfers (including fixed account)..................           (41,907)             (237,596)                46,953
   Policy charges...........................................           (29,645)              (30,157)              (32,843)
   Transfers for policy benefits and terminations...........                 --             (229,034)               (6,634)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................             14,556             (438,196)               197,636
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................            184,711             (509,632)               261,827
NET ASSETS:                                                                                                                
   Beginning of year........................................            703,136             1,212,768               950,941
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $          887,847    $          703,136    $        1,212,768
                                                             ==================    ==================    ==================


                                                                                   JANUS ASPEN JANUS                       
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $            5,213    $            5,397    $           73,809
   Net realized gains (losses)..............................             29,069             1,561,413                52,158
   Change in unrealized gains (losses) on investments.......            122,884           (1,416,036)               848,330
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................            157,166               150,774               974,297
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............             19,037                 6,403               635,005
   Net transfers (including fixed account)..................           (14,200)           (6,850,158)              (58,773)
   Policy charges...........................................           (41,868)              (89,176)             (348,978)
   Transfers for policy benefits and terminations...........            (6,552)             (191,751)                    --
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................           (43,583)           (7,124,682)               227,254
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................            113,583           (6,973,908)             1,201,551
NET ASSETS:                                                                                                                
   Beginning of year........................................            858,094             7,832,002             6,630,451
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $          971,677    $          858,094    $        7,832,002
                                                             ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                               JANUS ASPEN OVERSEAS                      
                                                                                INVESTMENT DIVISION                      
                                                            -------------------------------------------------------------
                                                                   2012                 2011                  2010       
                                                            ------------------   ------------------    ------------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $            2,519   $            1,291    $            1,609
   Net realized gains (losses).............................             36,365             (90,371)                 4,218
   Change in unrealized gains (losses) on investments......              8,927            (214,175)                62,994
                                                            ------------------   ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................             47,811            (303,255)                68,821
                                                            ------------------   ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............             72,495               17,337                61,601
   Net transfers (including fixed account).................               (60)              362,799               175,192
   Policy charges..........................................           (20,490)             (57,215)               (7,851)
   Transfers for policy benefits and terminations..........            (1,949)             (51,382)               (4,005)
                                                            ------------------   ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................             49,996              271,539               224,937
                                                            ------------------   ------------------    ------------------
     Net increase (decrease) in net assets.................             97,807             (31,716)               293,758
NET ASSETS:                                                                                                              
   Beginning of year.......................................            344,135              375,851                82,093
                                                            ------------------   ------------------    ------------------
   End of year............................................. $          441,942   $          344,135    $          375,851
                                                            ==================   ==================    ==================


                                                                                MFS VIT GLOBAL EQUITY                    
                                                                                 INVESTMENT DIVISION                     
                                                            -------------------------------------------------------------
                                                                   2012                  2011                 2010       
                                                            ------------------    -----------------    ------------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $               61    $             575    $            1,232
   Net realized gains (losses).............................                428               12,787                   183
   Change in unrealized gains (losses) on investments......              6,795             (16,173)                19,523
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................              7,284              (2,811)                20,938
                                                            ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............              2,223               10,718                28,453
   Net transfers (including fixed account).................            121,236            (180,476)               103,015
   Policy charges..........................................              (579)              (1,554)               (2,958)
   Transfers for policy benefits and terminations..........              (150)             (47,257)               (1,538)
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................            122,730            (218,569)               126,972
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets.................            130,014            (221,380)               147,910
NET ASSETS:                                                                                                              
   Beginning of year.......................................              5,414              226,794                78,884
                                                            ------------------    -----------------    ------------------
   End of year............................................. $          135,428    $           5,414    $          226,794
                                                            ==================    =================    ==================


                                                                                MFS VIT HIGH INCOME                      
                                                                                INVESTMENT DIVISION                      
                                                            ------------------------------------------------------------ 
                                                                   2012                 2011                  2010       
                                                            -----------------    ------------------    ----------------- 
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $          10,779    $           12,069    $           8,657 
   Net realized gains (losses).............................             2,215                   361                  680 
   Change in unrealized gains (losses) on investments......             6,400               (7,343)                7,331 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................            19,394                 5,087               16,668 
                                                            -----------------    ------------------    ----------------- 
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............                --                    --                   -- 
   Net transfers (including fixed account).................             9,417                    --                (706) 
   Policy charges..........................................           (2,141)               (1,863)              (1,750) 
   Transfers for policy benefits and terminations..........             (714)                  (22)                   -- 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................             6,562               (1,885)              (2,456) 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets.................            25,956                 3,202               14,212 
NET ASSETS:                                                                                                              
   Beginning of year.......................................           135,311               132,109              117,897 
                                                            -----------------    ------------------    ----------------- 
   End of year............................................. $         161,267    $          135,311    $         132,109 
                                                            =================    ==================    ================= 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                    MFS VIT NEW DISCOVERY                
                                                                                     INVESTMENT DIVISION                 
                                                                     ----------------------------------------------------
                                                                           2012              2011              2010      
                                                                     ----------------  ----------------  ----------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)..................................... $             --  $             --  $             --
   Net realized gains (losses)......................................           16,176            18,098               544
   Change in unrealized gains (losses) on investments...............           11,186          (32,906)            28,843
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations..............................................           27,362          (14,808)            29,387
                                                                     ----------------  ----------------  ----------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners.....................           25,604             6,694             8,926
   Net transfers (including fixed account)..........................            1,556                 5            94,362
   Policy charges...................................................          (4,934)           (4,419)           (2,781)
   Transfers for policy benefits and terminations...................               --                --                --
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions.....................................           22,226             2,280           100,507
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets..........................           49,588          (12,528)           129,894
NET ASSETS:                                                                                                              
   Beginning of year................................................          122,395           134,923             5,029
                                                                     ----------------  ----------------  ----------------
   End of year...................................................... $        171,983  $        122,395  $        134,923
                                                                     ================  ================  ================



                                                                                        MFS VIT VALUE                    
                                                                                     INVESTMENT DIVISION                 
                                                                     ----------------------------------------------------
                                                                           2012              2011              2010      
                                                                     ----------------  ----------------  ----------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)..................................... $            668  $            999  $            969
   Net realized gains (losses)......................................            3,543           (9,686)             (552)
   Change in unrealized gains (losses) on investments...............            2,241             6,173             7,585
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations..............................................            6,452           (2,514)             8,002
                                                                     ----------------  ----------------  ----------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners.....................               --                --                --
   Net transfers (including fixed account)..........................               --                --                --
   Policy charges...................................................          (2,417)           (2,722)           (2,906)
   Transfers for policy benefits and terminations...................         (31,172)          (29,560)               (2)
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions.....................................         (33,589)          (32,282)           (2,908)
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets..........................         (27,137)          (34,796)             5,094
NET ASSETS:                                                                                                              
   Beginning of year................................................           44,299            79,095            74,001
                                                                     ----------------  ----------------  ----------------
   End of year...................................................... $         17,162  $         44,299  $         79,095
                                                                     ================  ================  ================


                                                                            MIST                                         
                                                                      ALLIANCEBERNSTEIN                                  
                                                                       GLOBAL DYNAMIC                                    
                                                                         ALLOCATION                                      
                                                                     INVESTMENT DIVISION                                 
                                                                     -------------------                                 
                                                                          2012 (f)                                       
                                                                     -------------------                                 
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss).....................................   $            --                                   
   Net realized gains (losses)......................................                --                                   
   Change in unrealized gains (losses) on investments...............               163                                   
                                                                     -------------------                                 
     Net increase (decrease) in net assets resulting                                                                     
       from operations..............................................               163                                   
                                                                     -------------------                                 
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners.....................             1,541                                   
   Net transfers (including fixed account)..........................             5,907                                   
   Policy charges...................................................             (513)                                   
   Transfers for policy benefits and terminations...................                --                                   
                                                                     -------------------                                 
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions.....................................             6,935                                   
                                                                     -------------------                                 
     Net increase (decrease) in net assets..........................             7,098                                   
NET ASSETS:                                                                                                              
   Beginning of year................................................                --                                   
                                                                     -------------------                                 
   End of year......................................................   $         7,098                                   
                                                                     ===================                                 



                                                                           MIST AMERICAN FUNDS BALANCED ALLOCATION       
                                                                                     INVESTMENT DIVISION                 
                                                                     ----------------------------------------------------
                                                                           2012              2011              2010      
                                                                     ----------------  ----------------  ----------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)..................................... $         10,680  $          6,635  $          3,146
   Net realized gains (losses)......................................            9,312             6,294             1,822
   Change in unrealized gains (losses) on investments...............           50,640          (23,258)            26,193
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations..............................................           70,632          (10,329)            31,161
                                                                     ----------------  ----------------  ----------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners.....................           95,603           100,111           105,391
   Net transfers (including fixed account)..........................            9,483            36,239            89,836
   Policy charges...................................................         (41,140)          (32,003)          (11,710)
   Transfers for policy benefits and terminations...................         (19,150)           (5,429)                --
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions.....................................           44,796            98,918           183,517
                                                                     ----------------  ----------------  ----------------
     Net increase (decrease) in net assets..........................          115,428            88,589           214,678
NET ASSETS:                                                                                                              
   Beginning of year................................................          515,995           427,406           212,728
                                                                     ----------------  ----------------  ----------------
   End of year...................................................... $        631,423  $        515,995  $        427,406
                                                                     ================  ================  ================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                         MIST AMERICAN FUNDS GROWTH ALLOCATION             
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $           13,384    $           10,815    $            2,434
   Net realized gains (losses)..............................             16,384                 9,254                 5,990
   Change in unrealized gains (losses) on investments.......             96,877              (58,738)                79,550
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................            126,645              (38,669)                87,974
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............            256,426               267,061               355,048
   Net transfers (including fixed account)..................             39,236                31,086               223,657
   Policy charges...........................................          (109,463)             (124,905)              (93,195)
   Transfers for policy benefits and terminations...........          (167,111)              (59,628)               (2,170)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................             19,088               113,614               483,340
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................            145,733                74,945               571,314
NET ASSETS:                                                                                                                
   Beginning of year........................................            781,245               706,300               134,986
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $          926,978    $          781,245    $          706,300
                                                             ==================    ==================    ==================



                                                                        MIST AMERICAN FUNDS MODERATE ALLOCATION            
                                                                                  INVESTMENT DIVISION                      
                                                             ------------------------------------------------------------- 
                                                                    2012                  2011                 2010        
                                                             ------------------    ------------------   ------------------ 
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $           10,434    $            5,453   $            2,501 
   Net realized gains (losses)..............................             11,099                 3,384                  646 
   Change in unrealized gains (losses) on investments.......             29,635               (7,233)               16,902 
                                                             ------------------    ------------------   ------------------ 
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................             51,168                 1,604               20,049 
                                                             ------------------    ------------------   ------------------ 
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............            224,194               153,402              103,657 
   Net transfers (including fixed account)..................             22,347                57,534               70,020 
   Policy charges...........................................           (81,784)              (55,936)             (37,265) 
   Transfers for policy benefits and terminations...........           (29,845)               (5,092)              (2,260) 
                                                             ------------------    ------------------   ------------------ 
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................            134,912               149,908              134,152 
                                                             ------------------    ------------------   ------------------ 
     Net increase (decrease) in net assets..................            186,080               151,512              154,201 
NET ASSETS:                                                                                                                
   Beginning of year........................................            401,606               250,094               95,893 
                                                             ------------------    ------------------   ------------------ 
   End of year.............................................. $          587,686    $          401,606   $          250,094 
                                                             ==================    ==================   ================== 


                                                                  MIST AQR         MIST BLACKROCK                          
                                                                 GLOBAL RISK       GLOBAL TACTICAL                         
                                                                  BALANCED           STRATEGIES                            
                                                             INVESTMENT DIVISION INVESTMENT DIVISION                       
                                                             ------------------- -------------------                       
                                                                  2012 (f)            2012 (f)                             
                                                             ------------------- -------------------                       
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $               --  $               --                        
   Net realized gains (losses)..............................               (28)                  51                        
   Change in unrealized gains (losses) on investments.......                375                 878                        
                                                             ------------------- -------------------                       
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................                347                 929                        
                                                             ------------------- -------------------                       
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............              2,706               5,304                        
   Net transfers (including fixed account)..................             22,769              34,552                        
   Policy charges...........................................            (1,026)             (1,705)                        
   Transfers for policy benefits and terminations...........               (12)                 (2)                        
                                                             ------------------- -------------------                       
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................             24,437              38,149                        
                                                             ------------------- -------------------                       
     Net increase (decrease) in net assets..................             24,784              39,078                        
NET ASSETS:                                                                                                                
   Beginning of year........................................                 --                  --                        
                                                             ------------------- -------------------                       
   End of year.............................................. $           24,784  $           39,078                        
                                                             =================== ===================                       

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                             MIST BLACKROCK LARGE CAP CORE                
                                                                                  INVESTMENT DIVISION                     
                                                             -------------------------------------------------------------
                                                                    2012                  2011                 2010       
                                                             ------------------    -----------------    ------------------
                                                                                                                          
INCREASE (DECREASE) IN NET ASSETS:                                                                                        
FROM OPERATIONS:                                                                                                          
   Net investment income (loss)............................. $        2,105,871    $       1,842,952    $        2,318,294
   Net realized gains (losses)..............................        (3,353,915)          (4,542,808)           (7,248,214)
   Change in unrealized gains (losses) on investments.......         38,395,441            3,050,880            38,497,976
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                      
       from operations......................................         37,147,397              351,024            33,568,056
                                                             ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                      
   Premium payments received from policy owners.............         30,263,186           32,085,988            34,809,861
   Net transfers (including fixed account)..................        (3,536,610)          (2,768,320)           (2,767,361)
   Policy charges...........................................       (25,681,797)         (26,055,182)          (26,462,547)
   Transfers for policy benefits and terminations...........       (22,249,090)         (21,487,307)          (21,236,249)
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                      
       from policy transactions.............................       (21,204,311)         (18,224,821)          (15,656,296)
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets..................         15,943,086         (17,873,797)            17,911,760
NET ASSETS:                                                                                                               
   Beginning of year........................................        291,615,739          309,489,536           291,577,776
                                                             ------------------    -----------------    ------------------
   End of year.............................................. $      307,558,825    $     291,615,739    $      309,489,536
                                                             ==================    =================    ==================


                                                                           MIST CLARION GLOBAL REAL ESTATE                
                                                                                 INVESTMENT DIVISION                      
                                                             -------------------------------------------------------------
                                                                    2012                 2011                  2010       
                                                             ------------------    -----------------    ------------------
                                                                                                                          
INCREASE (DECREASE) IN NET ASSETS:                                                                                        
FROM OPERATIONS:                                                                                                          
   Net investment income (loss)............................. $          469,650    $         822,247    $        1,533,638
   Net realized gains (losses)..............................          (282,095)            (421,589)             (571,095)
   Change in unrealized gains (losses) on investments.......          4,988,577          (1,500,208)             1,969,823
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                      
       from operations......................................          5,176,132          (1,099,550)             2,932,366
                                                             ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                      
   Premium payments received from policy owners.............          2,592,509            2,829,699             3,115,895
   Net transfers (including fixed account)..................          1,803,836            (266,335)               (6,843)
   Policy charges...........................................        (1,523,067)          (1,472,266)           (1,472,706)
   Transfers for policy benefits and terminations...........        (1,526,479)          (1,591,725)           (1,474,613)
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                      
       from policy transactions.............................          1,346,799            (500,627)               161,733
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets..................          6,522,931          (1,600,177)             3,094,099
NET ASSETS:                                                                                                               
   Beginning of year........................................         19,560,387           21,160,564            18,066,465
                                                             ------------------    -----------------    ------------------
   End of year.............................................. $       26,083,318    $      19,560,387    $       21,160,564
                                                             ==================    =================    ==================


                                                                              MIST DREMAN SMALL CAP VALUE                 
                                                                                  INVESTMENT DIVISION                     
                                                             -------------------------------------------------------------
                                                                    2012                  2011                  2010      
                                                             ------------------    ------------------    -----------------
                                                                                                                          
INCREASE (DECREASE) IN NET ASSETS:                                                                                        
FROM OPERATIONS:                                                                                                          
   Net investment income (loss)............................. $              358    $              472    $             172
   Net realized gains (losses)..............................              3,130                 1,124                  403
   Change in unrealized gains (losses) on investments.......              1,696               (4,058)                3,392
                                                             ------------------    ------------------    -----------------
     Net increase (decrease) in net assets resulting                                                                      
       from operations......................................              5,184               (2,462)                3,967
                                                             ------------------    ------------------    -----------------
POLICY TRANSACTIONS:                                                                                                      
   Premium payments received from policy owners.............             11,572                 8,977                2,082
   Net transfers (including fixed account)..................            (1,795)                 6,064                6,849
   Policy charges...........................................            (6,279)               (4,130)              (2,545)
   Transfers for policy benefits and terminations...........            (6,067)                    --                   --
                                                             ------------------    ------------------    -----------------
     Net increase (decrease) in net assets resulting                                                                      
       from policy transactions.............................            (2,569)                10,911                6,386
                                                             ------------------    ------------------    -----------------
     Net increase (decrease) in net assets..................              2,615                 8,449               10,353
NET ASSETS:                                                                                                               
   Beginning of year........................................             35,938                27,489               17,136
                                                             ------------------    ------------------    -----------------
   End of year.............................................. $           38,553    $           35,938    $          27,489
                                                             ==================    ==================    =================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                 MIST HARRIS OAKMARK INTERNATIONAL           
                                                                                        INVESTMENT DIVISION                  
                                                                       ----------------------------------------------------- 
                                                                             2012               2011              2010       
                                                                       ----------------  -----------------  ---------------- 
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss)....................................... $        497,722  $        (38,360)  $        531,826 
   Net realized gains (losses)........................................        (140,345)          (114,036)         (312,283) 
   Change in unrealized gains (losses) on investments.................        7,474,599        (4,256,535)         4,235,035 
                                                                       ----------------  -----------------  ---------------- 
     Net increase (decrease) in net assets resulting                                                                         
       from operations................................................        7,831,976        (4,408,931)         4,454,578 
                                                                       ----------------  -----------------  ---------------- 
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners.......................        3,418,984          3,837,373         4,074,673 
   Net transfers (including fixed account)............................        (782,470)            133,438           669,473 
   Policy charges.....................................................      (1,876,193)        (1,940,266)       (1,984,772) 
   Transfers for policy benefits and terminations.....................      (2,206,344)        (1,949,570)       (2,128,605) 
                                                                       ----------------  -----------------  ---------------- 
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions.......................................      (1,446,023)             80,975           630,769 
                                                                       ----------------  -----------------  ---------------- 
     Net increase (decrease) in net assets............................        6,385,953        (4,327,956)         5,085,347 
NET ASSETS:                                                                                                                  
   Beginning of year..................................................       27,216,742         31,544,698        26,459,351 
                                                                       ----------------  -----------------  ---------------- 
   End of year........................................................ $     33,602,695  $      27,216,742  $     31,544,698 
                                                                       ================  =================  ================ 


                                                                          MIST INVESCO                                       
                                                                          BALANCED-RISK                                      
                                                                           ALLOCATION                                        
                                                                       INVESTMENT DIVISION                                   
                                                                       -------------------                                   
                                                                            2012 (f)                                         
                                                                       -------------------                                   
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).......................................  $             23                                     
   Net realized gains (losses)........................................                83                                     
   Change in unrealized gains (losses) on investments.................               (2)                                     
                                                                       -------------------                                   
     Net increase (decrease) in net assets resulting                                                                         
       from operations................................................               104                                     
                                                                       -------------------                                   
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners.......................             1,603                                     
   Net transfers (including fixed account)............................             6,312                                     
   Policy charges.....................................................             (506)                                     
   Transfers for policy benefits and terminations.....................                --                                     
                                                                       -------------------                                   
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions.......................................             7,409                                     
                                                                       -------------------                                   
     Net increase (decrease) in net assets............................             7,513                                     
NET ASSETS:                                                                                                                  
   Beginning of year..................................................                --                                     
                                                                       -------------------                                   
   End of year........................................................  $          7,513                                     
                                                                       ===================                                   



                                                                                   MIST INVESCO SMALL CAP GROWTH             
                                                                                        INVESTMENT DIVISION                  
                                                                       ------------------------------------------------------
                                                                             2012               2011               2010      
                                                                       -----------------  ----------------  -----------------
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss)....................................... $         (5,823)  $        (5,378)  $         (4,411)
   Net realized gains (losses)........................................           428,171           169,309           (15,371)
   Change in unrealized gains (losses) on investments.................           331,488         (192,641)            887,599
                                                                       -----------------  ----------------  -----------------
     Net increase (decrease) in net assets resulting                                                                         
       from operations................................................           753,836          (28,710)            867,817
                                                                       -----------------  ----------------  -----------------
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners.......................           443,063           453,004            471,774
   Net transfers (including fixed account)............................         (437,534)            42,346            164,724
   Policy charges.....................................................         (265,168)         (262,281)          (242,532)
   Transfers for policy benefits and terminations.....................         (290,496)         (261,290)          (184,521)
                                                                       -----------------  ----------------  -----------------
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions.......................................         (550,135)          (28,221)            209,445
                                                                       -----------------  ----------------  -----------------
     Net increase (decrease) in net assets............................           203,701          (56,931)          1,077,262
NET ASSETS:                                                                                                                  
   Beginning of year..................................................         4,412,967         4,469,898          3,392,636
                                                                       -----------------  ----------------  -----------------
   End of year........................................................ $       4,616,668  $      4,412,967  $       4,469,898
                                                                       =================  ================  =================



                                                                                         MIST JANUS FORTY                    
                                                                                        INVESTMENT DIVISION                  
                                                                       ----------------------------------------------------- 
                                                                             2012               2011              2010       
                                                                       ----------------   ----------------  ---------------- 
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss)....................................... $         43,475   $        231,367  $        202,308 
   Net realized gains (losses)........................................          176,627              2,199          (41,591) 
   Change in unrealized gains (losses) on investments.................        2,618,525        (1,278,619)         1,120,682 
                                                                       ----------------   ----------------  ---------------- 
     Net increase (decrease) in net assets resulting                                                                         
       from operations................................................        2,838,627        (1,045,053)         1,281,399 
                                                                       ----------------   ----------------  ---------------- 
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners.......................        1,848,830          2,050,382         2,241,409 
   Net transfers (including fixed account)............................          554,060        (1,014,538)           410,883 
   Policy charges.....................................................      (1,037,840)          (966,083)         (991,073) 
   Transfers for policy benefits and terminations.....................      (1,121,178)          (795,086)         (788,374) 
                                                                       ----------------   ----------------  ---------------- 
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions.......................................          243,872          (725,325)           872,845 
                                                                       ----------------   ----------------  ---------------- 
     Net increase (decrease) in net assets............................        3,082,499        (1,770,378)         2,154,244 
NET ASSETS:                                                                                                                  
   Beginning of year..................................................       12,484,277         14,254,655        12,100,411 
                                                                       ----------------   ----------------  ---------------- 
   End of year........................................................ $     15,566,776   $     12,484,277  $     14,254,655 
                                                                       ================   ================  ================ 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                              MIST JPMORGAN                                                                  
                                              GLOBAL ACTIVE                                                                  
                                               ALLOCATION              MIST LEGG MASON CLEARBRIDGE AGGRESSIVE GROWTH         
                                           INVESTMENT DIVISION                      INVESTMENT DIVISION                      
                                           ------------------- ------------------------------------------------------------- 
                                                2012 (f)              2012                  2011                  2010       
                                           ------------------- ------------------    ------------------    ----------------- 
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss)..........  $               68  $           20,415    $            2,384    $             392 
   Net realized gains (losses)...........                 107             171,678                93,448             (57,251) 
   Change in unrealized gains (losses)                                                                                       
     on investments......................                 152           2,107,124             (217,464)            1,583,027 
                                           ------------------- ------------------    ------------------    ----------------- 
     Net increase (decrease) in net assets                                                                                   
       resulting from operations.........                 327           2,299,217             (121,632)            1,526,168 
                                           ------------------- ------------------    ------------------    ----------------- 
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from                                                                                            
     policy owners.......................               1,977           1,437,587             1,318,130              897,883 
   Net transfers (including fixed account)              17,364              70,510             5,034,717            (116,646)
   Policy charges........................               (785)           (965,403)             (807,741)            (544,125) 
   Transfers for policy benefits and                                                                                         
     terminations........................                  --           (981,320)             (890,256)            (464,163) 
                                           ------------------- ------------------    ------------------    ----------------- 
     Net increase (decrease) in net assets                                                                                   
       resulting from policy transactions              18,556           (438,626)             4,654,850            (227,051) 
                                           ------------------- ------------------    ------------------    ----------------- 
     Net increase (decrease) in net assets              18,883           1,860,591             4,533,218            1,299,117
NET ASSETS:                                                                                                                  
   Beginning of year.....................                  --          12,365,794             7,832,576            6,533,459 
                                           ------------------- ------------------    ------------------    ----------------- 
   End of year...........................  $           18,883  $       14,226,385    $       12,365,794    $       7,832,576 
                                           =================== ==================    ==================    ================= 



                                                         MIST LORD ABBETT BOND DEBENTURE                                     
                                                               INVESTMENT DIVISION                                           
                                           -------------------------------------------------------------                     
                                                  2012                 2011                  2010                            
                                           ------------------   ------------------    ------------------                     
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss)..........  $        1,923,060   $        1,509,115    $        1,660,434                     
   Net realized gains (losses)...........             218,347              583,376               240,525                     
   Change in unrealized gains (losses)                                                                                       
     on investments......................           1,167,280            (863,576)             1,315,427                     
                                           ------------------   ------------------    ------------------                     
     Net increase (decrease) in net assets                                                                                   
       resulting from operations.........           3,308,687            1,228,915             3,216,386                     
                                           ------------------   ------------------    ------------------                     
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from                                                                                            
     policy owners.......................           2,367,942            2,158,065             2,523,009                     
   Net transfers (including fixed account)             308,984          (2,168,860)             (548,415)                    
   Policy charges........................         (1,678,880)          (1,640,766)           (1,768,086)                     
   Transfers for policy benefits and                                                                                         
     terminations........................         (1,522,631)          (1,520,091)           (1,782,906)                     
                                           ------------------   ------------------    ------------------                     
     Net increase (decrease) in net assets                                                                                   
       resulting from policy transactions           (524,585)          (3,171,652)           (1,576,398)                     
                                           ------------------   ------------------    ------------------                     
     Net increase (decrease) in net assets           2,784,102          (1,942,737)             1,639,988                    
NET ASSETS:                                                                                                                  
   Beginning of year.....................          25,730,993           27,673,730            26,033,742                     
                                           ------------------   ------------------    ------------------                     
   End of year...........................  $       28,515,095   $       25,730,993    $       27,673,730                     
                                           ==================   ==================    ==================                     



                                                         MIST LORD ABBETT MID CAP VALUE                                      
                                                               INVESTMENT DIVISION                                           
                                           -------------------------------------------------------------                     
                                                  2012                 2011                  2010                            
                                           -----------------    ------------------    ------------------                     
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss)..........  $        (48,839)    $              603    $              568                     
   Net realized gains (losses)...........           (82,924)                   818                 3,236                     
   Change in unrealized gains (losses)                                                                                       
     on investments......................          2,481,449               (5,510)                19,769                     
                                           -----------------    ------------------    ------------------                     
     Net increase (decrease) in net assets                                                                                   
       resulting from operations.........          2,349,686               (4,089)                23,573                     
                                           -----------------    ------------------    ------------------                     
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from                                                                                            
     policy owners.......................          4,895,051                 5,506                 6,334                     
   Net transfers (including fixed account)         74,538,068                11,792              (18,047)                    
   Policy charges........................        (3,428,791)               (3,541)               (4,191)                     
   Transfers for policy benefits and                                                                                         
     terminations........................        (3,581,952)                    --                    --                     
                                           -----------------    ------------------    ------------------                     
     Net increase (decrease) in net assets                                                                                   
       resulting from policy transactions         72,422,376                13,757              (15,904)                     
                                           -----------------    ------------------    ------------------                     
     Net increase (decrease) in net assets         74,772,062                 9,668                 7,669                    
NET ASSETS:                                                                                                                  
   Beginning of year.....................            120,858               111,190               103,521                     
                                           -----------------    ------------------    ------------------                     
   End of year...........................  $      74,892,920    $          120,858    $          111,190                     
                                           =================    ==================    ==================                     

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                             MIST MET/FRANKLIN INCOME                    
                                                                                INVESTMENT DIVISION                      
                                                            -------------------------------------------------------------
                                                                   2012                 2011                  2010       
                                                            ------------------    -----------------    ------------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $           13,809    $           8,323    $            3,216
   Net realized gains (losses).............................              6,138                5,705                   823
   Change in unrealized gains (losses) on investments......             16,385              (8,507)                10,272
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................             36,332                5,521                14,311
                                                            ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............             63,058               44,198                28,894
   Net transfers (including fixed account).................             32,509               67,493                66,675
   Policy charges..........................................           (28,891)             (23,591)              (12,613)
   Transfers for policy benefits and terminations..........              (397)              (7,430)               (1,480)
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................             66,279               80,670                81,476
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets.................            102,611               86,191                95,787
NET ASSETS:                                                                                                              
   Beginning of year.......................................            237,483              151,292                55,505
                                                            ------------------    -----------------    ------------------
   End of year............................................. $          340,094    $         237,483    $          151,292
                                                            ==================    =================    ==================


                                                                           MIST MET/FRANKLIN MUTUAL SHARES               
                                                                                 INVESTMENT DIVISION                     
                                                            -------------------------------------------------------------
                                                                   2012                  2011                 2010       
                                                            ------------------    -----------------    ------------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $              766    $           1,982    $               --
   Net realized gains (losses).............................             16,308                4,102                   683
   Change in unrealized gains (losses) on investments......            (3,910)              (6,478)                 4,077
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................             13,164                (394)                 4,760
                                                            ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............             25,120               18,290                13,024
   Net transfers (including fixed account).................             13,414               18,465                22,360
   Policy charges..........................................           (12,687)              (9,290)               (6,571)
   Transfers for policy benefits and terminations..........              (376)              (4,200)                 (811)
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................             25,471               23,265                28,002
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets.................             38,635               22,871                32,762
NET ASSETS:                                                                                                              
   Beginning of year.......................................             79,913               57,042                24,280
                                                            ------------------    -----------------    ------------------
   End of year............................................. $          118,548    $          79,913    $           57,042
                                                            ==================    =================    ==================


                                                                   MIST MET/FRANKLIN TEMPLETON FOUNDING STRATEGY         
                                                                                INVESTMENT DIVISION                      
                                                            ------------------------------------------------------------ 
                                                                   2012                 2011                  2010       
                                                            -----------------    ------------------    ----------------- 
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $          12,419    $            5,031    $              -- 
   Net realized gains (losses).............................             8,321                 2,290                1,546 
   Change in unrealized gains (losses) on investments......            24,847              (10,599)               23,230 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................            45,587               (3,278)               24,776 
                                                            -----------------    ------------------    ----------------- 
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............            27,214                25,042               25,504 
   Net transfers (including fixed account).................          (17,678)                 2,199               21,917 
   Policy charges..........................................          (10,138)               (8,412)              (6,972) 
   Transfers for policy benefits and terminations..........             (407)                  (19)                   -- 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................           (1,009)                18,810               40,449 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets.................            44,578                15,532               65,225 
NET ASSETS:                                                                                                              
   Beginning of year.......................................           275,812               260,280              195,055 
                                                            -----------------    ------------------    ----------------- 
   End of year............................................. $         320,390    $          275,812    $         260,280 
                                                            =================    ==================    ================= 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                              MIST MET/TEMPLETON GROWTH                   
                                                                                 INVESTMENT DIVISION                      
                                                             -------------------------------------------------------------
                                                                    2012                 2011                  2010       
                                                             ------------------    -----------------    ------------------
                                                                                                                          
INCREASE (DECREASE) IN NET ASSETS:                                                                                        
FROM OPERATIONS:                                                                                                          
   Net investment income (loss)............................. $              964    $             792    $              305
   Net realized gains (losses)..............................              3,604                  371                   125
   Change in unrealized gains (losses) on investments.......              8,197              (5,463)                 3,904
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                      
       from operations......................................             12,765              (4,300)                 4,334
                                                             ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                      
   Premium payments received from policy owners.............             18,145               18,937                18,420
   Net transfers (including fixed account)..................            (9,508)                2,912                12,049
   Policy charges...........................................            (6,328)              (6,419)               (5,335)
   Transfers for policy benefits and terminations...........              (793)              (6,096)                 (173)
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                      
       from policy transactions.............................              1,516                9,334                24,961
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets..................             14,281                5,034                29,295
NET ASSETS:                                                                                                               
   Beginning of year........................................             53,526               48,492                19,197
                                                             ------------------    -----------------    ------------------
   End of year.............................................. $           67,807    $          53,526    $           48,492
                                                             ==================    =================    ==================


                                                                    MIST                                                  
                                                                MET/TEMPLETON                                             
                                                             INTERNATIONAL BOND      MIST METLIFE AGGRESSIVE STRATEGY     
                                                             INVESTMENT DIVISION            INVESTMENT DIVISION           
                                                             -------------------  --------------------------------------- 
                                                                  2012 (f)              2012                2011 (d)      
                                                             -------------------  -----------------    ------------------ 
                                                                                                                          
INCREASE (DECREASE) IN NET ASSETS:                                                                                        
FROM OPERATIONS:                                                                                                          
   Net investment income (loss)............................. $               --   $         106,199    $          (8,047) 
   Net realized gains (losses)..............................                 21            (55,023)             (117,896) 
   Change in unrealized gains (losses) on investments.......                 47           2,084,613           (1,834,063) 
                                                             -------------------  -----------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                      
       from operations......................................                 68           2,135,789           (1,960,006) 
                                                             -------------------  -----------------    ------------------ 
POLICY TRANSACTIONS:                                                                                                      
   Premium payments received from policy owners.............                772           2,523,168             1,640,701 
   Net transfers (including fixed account)..................              2,031           (222,009)            14,330,838 
   Policy charges...........................................              (254)         (1,016,618)             (680,441) 
   Transfers for policy benefits and terminations...........               (12)           (750,395)             (858,431) 
                                                             -------------------  -----------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                      
       from policy transactions.............................              2,537             534,146            14,432,667 
                                                             -------------------  -----------------    ------------------ 
     Net increase (decrease) in net assets..................              2,605           2,669,935            12,472,661 
NET ASSETS:                                                                                                               
   Beginning of year........................................                 --          12,472,661                    -- 
                                                             -------------------  -----------------    ------------------ 
   End of year.............................................. $            2,605   $      15,142,596    $       12,472,661 
                                                             ===================  =================    ================== 



                                                                MIST METLIFE                                              
                                                                BALANCED PLUS        MIST MFS EMERGING MARKETS EQUITY     
                                                             INVESTMENT DIVISION            INVESTMENT DIVISION           
                                                             -------------------  --------------------------------------- 
                                                                  2012 (f)               2012                2011 (d)     
                                                             -------------------  ------------------    ----------------- 
                                                                                                                          
INCREASE (DECREASE) IN NET ASSETS:                                                                                        
FROM OPERATIONS:                                                                                                          
   Net investment income (loss)............................. $               --   $            1,167    $              -- 
   Net realized gains (losses)..............................                119              (1,470)                 (70) 
   Change in unrealized gains (losses) on investments.......              1,691                9,361              (3,209) 
                                                             -------------------  ------------------    ----------------- 
     Net increase (decrease) in net assets resulting                                                                      
       from operations......................................              1,810                9,058              (3,279) 
                                                             -------------------  ------------------    ----------------- 
POLICY TRANSACTIONS:                                                                                                      
   Premium payments received from policy owners.............              2,506               18,431                3,938 
   Net transfers (including fixed account)..................             42,755               46,229               23,265 
   Policy charges...........................................            (1,138)              (6,816)                (911) 
   Transfers for policy benefits and terminations...........                 --                (895)                 (63) 
                                                             -------------------  ------------------    ----------------- 
     Net increase (decrease) in net assets resulting                                                                      
       from policy transactions.............................             44,123               56,949               26,229 
                                                             -------------------  ------------------    ----------------- 
     Net increase (decrease) in net assets..................             45,933               66,007               22,950 
NET ASSETS:                                                                                                               
   Beginning of year........................................                 --               22,950                   -- 
                                                             -------------------  ------------------    ----------------- 
   End of year.............................................. $           45,933   $           88,957    $          22,950 
                                                             ===================  ==================    ================= 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                            MIST MFS RESEARCH INTERNATIONAL                
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $          266,180    $          267,989    $          222,616
   Net realized gains (losses)..............................          (345,224)             (233,782)             (545,005)
   Change in unrealized gains (losses) on investments.......          2,185,121           (1,480,693)             1,743,808
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................          2,106,077           (1,446,486)             1,421,419
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............          1,458,020             1,640,050             1,870,809
   Net transfers (including fixed account)..................          1,660,976                51,977             (766,625)
   Policy charges...........................................          (839,930)             (858,974)             (890,996)
   Transfers for policy benefits and terminations...........          (841,229)           (1,130,486)             (892,543)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................          1,437,837             (297,433)             (679,355)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................          3,543,914           (1,743,919)               742,064
NET ASSETS:                                                                                                                
   Beginning of year........................................         12,176,899            13,920,818            13,178,754
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $       15,720,813    $       12,176,899    $       13,920,818
                                                             ==================    ==================    ==================


                                                                                   MIST MLA MID CAP                        
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $           26,174    $           43,433    $           44,249
   Net realized gains (losses)..............................           (28,631)              (15,584)              (93,933)
   Change in unrealized gains (losses) on investments.......            296,637             (320,660)             1,108,654
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................            294,180             (292,811)             1,058,970
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............            620,922               665,125               700,574
   Net transfers (including fixed account)..................          (187,706)               304,589                24,219
   Policy charges...........................................          (364,656)             (382,010)             (380,767)
   Transfers for policy benefits and terminations...........          (442,679)             (602,339)             (387,630)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................          (374,119)              (14,635)              (43,604)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................           (79,939)             (307,446)             1,015,366
NET ASSETS:                                                                                                                
   Beginning of year........................................          5,277,678             5,585,124             4,569,758
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $        5,197,739    $        5,277,678    $        5,585,124
                                                             ==================    ==================    ==================


                                                                          MIST MORGAN STANLEY MID CAP GROWTH               
                                                                                  INVESTMENT DIVISION                      
                                                             ------------------------------------------------------------- 
                                                                    2012                  2011                 2010        
                                                             ------------------   -------------------   ------------------ 
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $        (579,825)   $           866,726   $        (375,077) 
   Net realized gains (losses)..............................          1,677,793             7,856,152              336,382 
   Change in unrealized gains (losses) on investments.......         15,368,250          (21,552,444)           31,775,159 
                                                             ------------------   -------------------   ------------------ 
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................         16,466,218          (12,829,566)           31,736,464 
                                                             ------------------   -------------------   ------------------ 
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............         21,032,275            22,486,193           16,409,129 
   Net transfers (including fixed account)..................        (1,255,442)           (4,111,245)          174,856,480 
   Policy charges...........................................       (14,401,148)          (15,255,941)         (10,113,246) 
   Transfers for policy benefits and terminations...........       (13,701,209)          (15,693,955)          (9,440,323) 
                                                             ------------------   -------------------   ------------------ 
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................        (8,325,524)          (12,574,948)          171,712,040 
                                                             ------------------   -------------------   ------------------ 
     Net increase (decrease) in net assets..................          8,140,694          (25,404,514)          203,448,504 
NET ASSETS:                                                                                                                
   Beginning of year........................................        178,350,417           203,754,931              306,427 
                                                             ------------------   -------------------   ------------------ 
   End of year.............................................. $      186,491,111   $       178,350,417   $      203,754,931 
                                                             ==================   ===================   ================== 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                         MIST PIMCO INFLATION PROTECTED BOND             
                                                                                 INVESTMENT DIVISION                     
                                                            -------------------------------------------------------------
                                                                   2012                  2011                 2010       
                                                            ------------------    -----------------    ------------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $          369,500    $         146,996    $          195,330
   Net realized gains (losses).............................            800,878              525,047               281,279
   Change in unrealized gains (losses) on investments......          (101,684)              331,187               130,473
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................          1,068,694            1,003,230               607,082
                                                            ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............          1,385,490            1,244,015             1,208,996
   Net transfers (including fixed account).................          2,478,586              671,186               587,680
   Policy charges..........................................          (865,472)            (683,641)             (626,248)
   Transfers for policy benefits and terminations..........          (915,239)            (527,827)             (699,416)
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................          2,083,365              703,733               471,012
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets.................          3,152,059            1,706,963             1,078,094
NET ASSETS:                                                                                                              
   Beginning of year.......................................         10,519,501            8,812,538             7,734,444
                                                            ------------------    -----------------    ------------------
   End of year............................................. $       13,671,560    $      10,519,501    $        8,812,538
                                                            ==================    =================    ==================


                                                                              MIST PIMCO TOTAL RETURN                    
                                                                                INVESTMENT DIVISION                      
                                                            ------------------------------------------------------------ 
                                                                  2012                  2011                 2010        
                                                            -----------------    ------------------    ----------------- 
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $       1,570,173    $        1,281,730    $       1,574,811 
   Net realized gains (losses).............................           347,234             1,634,121              474,495 
   Change in unrealized gains (losses) on investments......         2,519,869           (1,410,547)            1,426,113 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................         4,437,276             1,505,304            3,475,419 
                                                            -----------------    ------------------    ----------------- 
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............         4,797,851             5,110,970            5,334,220 
   Net transfers (including fixed account).................         1,382,335             1,024,517            3,101,158 
   Policy charges..........................................       (3,598,862)           (3,416,996)          (3,436,516) 
   Transfers for policy benefits and terminations..........       (3,664,586)           (3,694,178)          (3,692,336) 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................       (1,083,262)             (975,687)            1,306,526 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets.................         3,354,014               529,617            4,781,945 
NET ASSETS:                                                                                                              
   Beginning of year.......................................        47,131,879            46,602,262           41,820,317 
                                                            -----------------    ------------------    ----------------- 
   End of year............................................. $      50,485,893    $       47,131,879    $      46,602,262 
                                                            =================    ==================    ================= 


                                                                                  MIST PIONEER FUND                      
                                                                                 INVESTMENT DIVISION                     
                                                            -------------------------------------------------------------
                                                                   2012                  2011                 2010       
                                                            ------------------    -----------------    ------------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $            2,902    $           2,289    $            1,987
   Net realized gains (losses).............................              1,266               21,102                 6,067
   Change in unrealized gains (losses) on investments......             14,560             (30,602)                25,716
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................             18,728              (7,211)                33,770
                                                            ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............              4,118                5,551                 4,871
   Net transfers (including fixed account).................                 15              (1,284)              (26,206)
   Policy charges..........................................            (4,551)              (4,647)               (5,711)
   Transfers for policy benefits and terminations..........                 --             (61,915)                    --
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................              (418)             (62,295)              (27,046)
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets.................             18,310             (69,506)                 6,724
NET ASSETS:                                                                                                              
   Beginning of year.......................................            176,354              245,860               239,136
                                                            ------------------    -----------------    ------------------
   End of year............................................. $          194,664    $         176,354    $          245,860
                                                            ==================    =================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                                         MIST RCM TECHNOLOGY                  
                                                                                         INVESTMENT DIVISION                  
                                                                        ----------------------------------------------------- 
                                                                              2012               2011              2010       
                                                                        ----------------  -----------------  ---------------- 
                                                                                                                              
INCREASE (DECREASE) IN NET ASSETS:                                                                                            
FROM OPERATIONS:                                                                                                              
   Net investment income (loss)........................................ $       (19,709)  $        (21,877)  $       (19,473) 
   Net realized gains (losses).........................................        1,817,918            512,571          (54,192) 
   Change in unrealized gains (losses) on investments..................        (166,446)        (1,944,446)         3,551,862 
                                                                        ----------------  -----------------  ---------------- 
     Net increase (decrease) in net assets resulting                                                                          
       from operations.................................................        1,631,763        (1,453,752)         3,478,197 
                                                                        ----------------  -----------------  ---------------- 
POLICY TRANSACTIONS:                                                                                                          
   Premium payments received from policy owners........................        1,416,829          1,591,820         1,602,041 
   Net transfers (including fixed account).............................        (338,762)          (740,109)             7,146 
   Policy charges......................................................        (971,378)        (1,067,941)       (1,050,386) 
   Transfers for policy benefits and terminations......................      (1,022,707)        (1,227,369)       (1,144,160) 
                                                                        ----------------  -----------------  ---------------- 
     Net increase (decrease) in net assets resulting                                                                          
       from policy transactions........................................        (916,018)        (1,443,599)         (585,359) 
                                                                        ----------------  -----------------  ---------------- 
     Net increase (decrease) in net assets.............................          715,745        (2,897,351)         2,892,838 
NET ASSETS:                                                                                                                   
   Beginning of year...................................................       13,216,535         16,113,886        13,221,048 
                                                                        ----------------  -----------------  ---------------- 
   End of year......................................................... $     13,932,280  $      13,216,535  $     16,113,886 
                                                                        ================  =================  ================ 


                                                                          MIST SCHRODERS                                      
                                                                        GLOBAL MULTI-ASSET                                    
                                                                        INVESTMENT DIVISION                                   
                                                                        -------------------                                   
                                                                             2012 (f)                                         
                                                                        -------------------                                   
                                                                                                                              
INCREASE (DECREASE) IN NET ASSETS:                                                                                            
FROM OPERATIONS:                                                                                                              
   Net investment income (loss)........................................  $             42                                     
   Net realized gains (losses).........................................               103                                     
   Change in unrealized gains (losses) on investments..................              (23)                                     
                                                                        -------------------                                   
     Net increase (decrease) in net assets resulting                                                                          
       from operations.................................................               122                                     
                                                                        -------------------                                   
POLICY TRANSACTIONS:                                                                                                          
   Premium payments received from policy owners........................               792                                     
   Net transfers (including fixed account).............................             5,247                                     
   Policy charges......................................................             (409)                                     
   Transfers for policy benefits and terminations......................                --                                     
                                                                        -------------------                                   
     Net increase (decrease) in net assets resulting                                                                          
       from policy transactions........................................             5,630                                     
                                                                        -------------------                                   
     Net increase (decrease) in net assets.............................             5,752                                     
NET ASSETS:                                                                                                                   
   Beginning of year...................................................                --                                     
                                                                        -------------------                                   
   End of year.........................................................  $          5,752                                     
                                                                        ===================                                   



                                                                                   MIST SSGA GROWTH AND INCOME ETF            
                                                                                         INVESTMENT DIVISION                  
                                                                        ------------------------------------------------------
                                                                              2012               2011              2010       
                                                                        ----------------  -----------------  -----------------
                                                                                                                              
INCREASE (DECREASE) IN NET ASSETS:                                                                                            
FROM OPERATIONS:                                                                                                              
   Net investment income (loss)........................................ $        126,210  $          67,326  $          30,178
   Net realized gains (losses).........................................          168,614            123,633             16,158
   Change in unrealized gains (losses) on investments..................          365,606          (151,325)            322,318
                                                                        ----------------  -----------------  -----------------
     Net increase (decrease) in net assets resulting                                                                          
       from operations.................................................          660,430             39,634            368,654
                                                                        ----------------  -----------------  -----------------
POLICY TRANSACTIONS:                                                                                                          
   Premium payments received from policy owners........................          646,514            610,076            471,109
   Net transfers (including fixed account).............................          942,683            653,921          1,821,735
   Policy charges......................................................        (351,822)          (275,433)          (206,111)
   Transfers for policy benefits and terminations......................        (341,292)          (235,978)          (217,589)
                                                                        ----------------  -----------------  -----------------
     Net increase (decrease) in net assets resulting                                                                          
       from policy transactions........................................          896,083            752,586          1,869,144
                                                                        ----------------  -----------------  -----------------
     Net increase (decrease) in net assets.............................        1,556,513            792,220          2,237,798
NET ASSETS:                                                                                                                   
   Beginning of year...................................................        4,611,127          3,818,907          1,581,109
                                                                        ----------------  -----------------  -----------------
   End of year......................................................... $      6,167,640  $       4,611,127  $       3,818,907
                                                                        ================  =================  =================



                                                                                        MIST SSGA GROWTH ETF                  
                                                                                         INVESTMENT DIVISION                  
                                                                        ------------------------------------------------------
                                                                              2012               2011               2010      
                                                                        -----------------  ----------------  -----------------
                                                                                                                              
INCREASE (DECREASE) IN NET ASSETS:                                                                                            
FROM OPERATIONS:                                                                                                              
   Net investment income (loss)........................................ $          74,518  $         52,353  $          30,058
   Net realized gains (losses).........................................           177,699            63,035             12,378
   Change in unrealized gains (losses) on investments..................           279,360         (183,850)            271,601
                                                                        -----------------  ----------------  -----------------
     Net increase (decrease) in net assets resulting                                                                          
       from operations.................................................           531,577          (68,462)            314,037
                                                                        -----------------  ----------------  -----------------
POLICY TRANSACTIONS:                                                                                                          
   Premium payments received from policy owners........................           510,609           473,918            426,740
   Net transfers (including fixed account).............................           331,103           671,574            479,704
   Policy charges......................................................         (237,442)         (208,531)          (158,620)
   Transfers for policy benefits and terminations......................         (200,877)         (238,362)          (171,487)
                                                                        -----------------  ----------------  -----------------
     Net increase (decrease) in net assets resulting                                                                          
       from policy transactions........................................           403,393           698,599            576,337
                                                                        -----------------  ----------------  -----------------
     Net increase (decrease) in net assets.............................           934,970           630,137            890,374
NET ASSETS:                                                                                                                   
   Beginning of year...................................................         3,309,518         2,679,381          1,789,007
                                                                        -----------------  ----------------  -----------------
   End of year......................................................... $       4,244,488  $      3,309,518  $       2,679,381
                                                                        =================  ================  =================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                           MIST T. ROWE PRICE LARGE CAP VALUE               
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              -------------------   ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $            19,582   $            9,481    $           65,246
   Net realized gains (losses)...............................             (1,403)            (435,260)              (79,021)
   Change in unrealized gains (losses) on investments........             181,043              577,510               921,874
                                                              -------------------   ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................             199,222              151,731               908,099
                                                              -------------------   ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............               7,131                4,938               427,886
   Net transfers (including fixed account)...................              49,898          (4,150,820)              (66,707)
   Policy charges............................................            (17,285)             (46,340)             (201,169)
   Transfers for policy benefits and terminations............                 (5)          (1,102,016)               (7,059)
                                                              -------------------   ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................              39,739          (5,294,238)               152,951
                                                              -------------------   ------------------    ------------------
     Net increase (decrease) in net assets...................             238,961          (5,142,507)             1,061,050
NET ASSETS:                                                                                                                 
   Beginning of year.........................................           1,081,554            6,224,061             5,163,011
                                                              -------------------   ------------------    ------------------
   End of year............................................... $         1,320,515   $        1,081,554    $        6,224,061
                                                              ===================   ==================    ==================


                                                                            MIST T. ROWE PRICE MID CAP GROWTH               
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $         (29,751)    $         (30,563)    $         (25,378)
   Net realized gains (losses)...............................          2,629,009               872,771               131,367
   Change in unrealized gains (losses) on investments........            206,878           (1,837,318)             4,580,355
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................          2,806,136             (995,110)             4,686,344
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          1,915,712             2,194,867             2,269,288
   Net transfers (including fixed account)...................        (5,662,939)             5,978,566               264,028
   Policy charges............................................        (1,349,872)           (1,564,864)           (1,309,355)
   Transfers for policy benefits and terminations............        (1,768,009)           (1,643,740)           (1,448,078)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................        (6,865,108)             4,964,829             (224,117)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................        (4,058,972)             3,969,719             4,462,227
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         25,204,627            21,234,908            16,772,681
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       21,145,655    $       25,204,627    $       21,234,908
                                                              ==================    ==================    ==================


                                                                            MIST THIRD AVENUE SMALL CAP VALUE               
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $               --    $            9,414    $           12,822
   Net realized gains (losses)...............................             12,071                86,881                42,370
   Change in unrealized gains (losses) on investments........            129,525             (240,493)               198,929
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................            141,596             (144,198)               254,121
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............             66,068                28,968               152,265
   Net transfers (including fixed account)...................           (58,431)             (400,494)               298,003
   Policy charges............................................           (25,818)              (28,620)              (29,425)
   Transfers for policy benefits and terminations............           (47,729)             (225,194)                 (369)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................           (65,910)             (625,340)               420,474
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................             75,686             (769,538)               674,595
NET ASSETS:                                                                                                                 
   Beginning of year.........................................            806,051             1,575,589               900,994
                                                              ------------------    ------------------    ------------------
   End of year............................................... $          881,737    $          806,051    $        1,575,589
                                                              ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                        MSF BAILLIE GIFFORD INTERNATIONAL STOCK            
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $          341,410    $          546,449    $          454,798
   Net realized gains (losses)..............................        (1,190,404)             (808,593)           (1,030,425)
   Change in unrealized gains (losses) on investments.......          7,502,480           (8,900,342)             3,370,719
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................          6,653,486           (9,162,486)             2,795,092
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............          4,637,990             4,892,915             5,258,777
   Net transfers (including fixed account)..................        (1,376,713)               100,755             (592,663)
   Policy charges...........................................        (2,907,524)           (3,147,651)           (3,370,345)
   Transfers for policy benefits and terminations...........        (2,527,135)           (2,530,848)           (3,487,847)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................        (2,173,382)             (684,829)           (2,192,078)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................          4,480,104           (9,847,315)               603,014
NET ASSETS:                                                                                                                
   Beginning of year........................................         35,919,561            45,766,876            45,163,862
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $       40,399,665    $       35,919,561    $       45,766,876
                                                             ==================    ==================    ==================


                                                                       MSF BARCLAYS CAPITAL AGGREGATE BOND INDEX           
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $        4,231,088    $        3,875,815    $        3,995,454
   Net realized gains (losses)..............................            604,720               843,640               613,564
   Change in unrealized gains (losses) on investments.......          (447,969)             3,276,276             1,607,603
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................          4,387,839             7,995,731             6,216,621
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............         12,468,986            12,546,475            13,651,933
   Net transfers (including fixed account)..................          7,067,547           (5,035,008)             4,296,224
   Policy charges...........................................        (8,609,472)           (8,528,408)           (8,696,729)
   Transfers for policy benefits and terminations...........        (7,662,930)          (12,699,958)           (7,334,933)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................          3,264,131          (13,716,899)             1,916,495
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................          7,651,970           (5,721,168)             8,133,116
NET ASSETS:                                                                                                                
   Beginning of year........................................        108,763,587           114,484,755           106,351,639
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $      116,415,557    $      108,763,587    $      114,484,755
                                                             ==================    ==================    ==================


                                                                            MSF BLACKROCK AGGRESSIVE GROWTH                
                                                                                  INVESTMENT DIVISION                      
                                                             --------------------------------------------------------------
                                                                    2012                  2011                  2010       
                                                             ------------------    ------------------    ------------------
                                                                                                                           
INCREASE (DECREASE) IN NET ASSETS:                                                                                         
FROM OPERATIONS:                                                                                                           
   Net investment income (loss)............................. $      (1,258,555)    $        (701,469)    $      (1,111,813)
   Net realized gains (losses)..............................          2,892,428             2,544,325               451,106
   Change in unrealized gains (losses) on investments.......         17,096,166           (8,863,059)            26,312,677
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from operations......................................         18,730,039           (7,020,203)            25,651,970
                                                             ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                       
   Premium payments received from policy owners.............         17,178,798            17,102,384            18,632,365
   Net transfers (including fixed account)..................        (3,218,712)             3,214,026           (3,158,688)
   Policy charges...........................................       (13,834,330)          (14,177,756)          (14,307,761)
   Transfers for policy benefits and terminations...........       (13,147,114)          (14,269,181)          (14,208,996)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                       
       from policy transactions.............................       (13,021,358)           (8,130,527)          (13,043,080)
                                                             ------------------    ------------------    ------------------
     Net increase (decrease) in net assets..................          5,708,681          (15,150,730)            12,608,890
NET ASSETS:                                                                                                                
   Beginning of year........................................        184,990,795           200,141,525           187,532,635
                                                             ------------------    ------------------    ------------------
   End of year.............................................. $      190,699,476    $      184,990,795    $      200,141,525
                                                             ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                                MSF BLACKROCK BOND INCOME                    
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $        1,971,467    $        2,986,399    $        3,017,278 
   Net realized gains (losses)...............................            905,570               132,024                24,746 
   Change in unrealized gains (losses) on investments........          2,995,775             1,930,533             3,372,816 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................          5,872,812             5,048,956             6,414,840 
                                                              ------------------    ------------------    ------------------ 
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............          7,520,502             7,828,777             8,520,413 
   Net transfers (including fixed account)...................            238,363           (1,265,327)               406,620 
   Policy charges............................................        (6,492,283)           (6,574,083)           (6,951,509) 
   Transfers for policy benefits and terminations............        (5,691,274)           (5,835,954)           (5,946,761) 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................        (4,424,692)           (5,846,587)           (3,971,237) 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets...................          1,448,120             (797,631)             2,443,603 
NET ASSETS:                                                                                                                  
   Beginning of year.........................................         84,065,205            84,862,836            82,419,233 
                                                              ------------------    ------------------    ------------------ 
   End of year............................................... $       85,513,325    $       84,065,205    $       84,862,836 
                                                              ==================    ==================    ================== 


                                                                                 MSF BLACKROCK DIVERSIFIED                   
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                      2012                  2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $         4,600,384    $        4,934,321    $        3,404,858
   Net realized gains (losses)...............................           1,094,116             (191,522)           (1,951,136)
   Change in unrealized gains (losses) on investments........          23,691,349             3,658,514            20,635,275
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................          29,385,849             8,401,313            22,088,997
                                                              -------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............          26,242,636            27,879,758            29,469,771
   Net transfers (including fixed account)...................         (1,486,565)             (878,239)           (2,059,076)
   Policy charges............................................        (23,779,226)          (23,910,845)          (24,452,759)
   Transfers for policy benefits and terminations............        (18,935,103)          (19,040,111)          (19,336,433)
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................        (17,958,258)          (15,949,437)          (16,378,497)
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          11,427,591           (7,548,124)             5,710,500
NET ASSETS:                                                                                                                  
   Beginning of year.........................................         255,554,192           263,102,316           257,391,816
                                                              -------------------    ------------------    ------------------
   End of year............................................... $       266,981,783    $      255,554,192    $      263,102,316
                                                              ===================    ==================    ==================


                                                                              MSF BLACKROCK LARGE CAP VALUE                  
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $          209,379    $          129,733    $          104,202 
   Net realized gains (losses)...............................          2,007,312              (80,782)             (263,466) 
   Change in unrealized gains (losses) on investments........          (358,711)               254,349             1,265,453 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................          1,857,980               303,300             1,106,189 
                                                              ------------------    ------------------    ------------------ 
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............          1,824,774             1,997,147             2,157,901 
   Net transfers (including fixed account)...................          (541,800)                22,211             (183,197) 
   Policy charges............................................          (986,361)             (953,175)             (948,186) 
   Transfers for policy benefits and terminations............        (1,176,695)             (955,568)             (957,459) 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................          (880,082)               110,615                69,059 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets...................            977,898               413,915             1,175,248 
NET ASSETS:                                                                                                                  
   Beginning of year.........................................         13,313,052            12,899,137            11,723,889 
                                                              ------------------    ------------------    ------------------ 
   End of year............................................... $       14,290,950    $       13,313,052    $       12,899,137 
                                                              ==================    ==================    ================== 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                          MSF BLACKROCK LEGACY LARGE CAP GROWTH             
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $           33,557    $            6,652    $            7,111
   Net realized gains (losses)...............................            261,278               137,813                75,641
   Change in unrealized gains (losses) on investments........          1,344,869             (879,158)             1,107,022
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................          1,639,704             (734,693)             1,189,774
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          2,048,562             1,133,989             1,127,304
   Net transfers (including fixed account)...................          4,185,125             1,403,176                39,075
   Policy charges............................................          (887,196)             (567,701)             (545,713)
   Transfers for policy benefits and terminations............          (341,906)           (1,189,484)             (438,412)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................          5,004,585               779,980               182,254
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          6,644,289                45,287             1,372,028
NET ASSETS:                                                                                                                 
   Beginning of year.........................................          7,367,810             7,322,523             5,950,495
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       14,012,099    $        7,367,810    $        7,322,523
                                                              ==================    ==================    ==================


                                                                               MSF BLACKROCK MONEY MARKET                   
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $         (48,731)    $         (47,046)    $         (50,998)
   Net realized gains (losses)...............................                 --                    --                    --
   Change in unrealized gains (losses) on investments........                 --                    --                    --
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................           (48,731)              (47,046)              (50,998)
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          1,122,876             6,905,158            14,816,043
   Net transfers (including fixed account)...................          4,792,952          (10,656,392)          (13,160,154)
   Policy charges............................................          (709,203)           (1,223,525)           (1,590,193)
   Transfers for policy benefits and terminations............        (2,666,648)           (4,013,323)           (5,424,880)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................          2,539,977           (8,988,082)           (5,359,184)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          2,491,246           (9,035,128)           (5,410,182)
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         20,783,208            29,818,336            35,228,518
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       23,274,454    $       20,783,208    $       29,818,336
                                                              ==================    ==================    ==================


                                                                                 MSF DAVIS VENTURE VALUE                    
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $          426,207    $          594,738    $          478,976
   Net realized gains (losses)...............................            549,533               492,146               191,969
   Change in unrealized gains (losses) on investments........          5,763,493           (3,392,027)             5,562,556
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................          6,739,233           (2,305,143)             6,233,501
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          6,480,032             7,273,891             8,027,444
   Net transfers (including fixed account)...................          (813,439)                33,336             (908,212)
   Policy charges............................................        (3,889,505)           (4,125,791)           (4,273,615)
   Transfers for policy benefits and terminations............        (3,947,761)           (5,136,119)           (3,941,742)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................        (2,170,673)           (1,954,683)           (1,096,125)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          4,568,560           (4,259,826)             5,137,376
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         53,650,792            57,910,618            52,773,242
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       58,219,352    $       53,650,792    $       57,910,618
                                                              ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                                  MSF FI VALUE LEADERS                      
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $           70,985    $           63,160    $           83,130
   Net realized gains (losses)...............................           (88,358)              (99,840)             (145,291)
   Change in unrealized gains (losses) on investments........            950,530             (347,209)               885,079
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................            933,157             (383,889)               822,918
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............            820,292               906,978               997,133
   Net transfers (including fixed account)...................          (147,091)               107,098                41,388
   Policy charges............................................          (482,886)             (480,838)             (492,127)
   Transfers for policy benefits and terminations............          (441,144)             (572,452)             (361,541)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................          (250,829)              (39,214)               184,853
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................            682,328             (423,103)             1,007,771
NET ASSETS:                                                                                                                 
   Beginning of year.........................................          6,065,829             6,488,932             5,481,161
                                                              ------------------    ------------------    ------------------
   End of year............................................... $        6,748,157    $        6,065,829    $        6,488,932
                                                              ==================    ==================    ==================


                                                                                   MSF JENNISON GROWTH                      
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $           28,105    $           35,563    $           76,963
   Net realized gains (losses)...............................          2,811,173               251,119                17,747
   Change in unrealized gains (losses) on investments........          (683,735)             (215,551)             1,535,759
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................          2,155,543                71,131             1,630,469
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          1,531,550             1,444,160             1,601,194
   Net transfers (including fixed account)...................          2,297,949              (43,841)               598,866
   Policy charges............................................        (1,167,566)           (1,041,433)           (1,057,353)
   Transfers for policy benefits and terminations............        (1,209,351)           (1,671,932)             (838,122)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................          1,452,582           (1,313,046)               304,585
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          3,608,125           (1,241,915)             1,935,054
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         14,166,486            15,408,401            13,473,347
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       17,774,611    $       14,166,486    $       15,408,401
                                                              ==================    ==================    ==================


                                                                            MSF LOOMIS SAYLES SMALL CAP CORE                
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $         (18,930)    $            1,388    $          (1,686)
   Net realized gains (losses)...............................            734,986               258,722              (55,224)
   Change in unrealized gains (losses) on investments........          1,736,369             (166,265)             4,065,140
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................          2,452,425                93,845             4,008,230
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          1,746,601             1,937,235             2,076,395
   Net transfers (including fixed account)...................          (297,817)             (342,656)             (491,792)
   Policy charges............................................        (1,178,997)           (1,184,554)           (1,136,246)
   Transfers for policy benefits and terminations............        (1,329,599)           (1,342,670)             (999,217)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................        (1,059,812)             (932,645)             (550,860)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          1,392,613             (838,800)             3,457,370
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         17,443,984            18,282,784            14,825,414
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       18,836,597    $       17,443,984    $       18,282,784
                                                              ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                            MSF LOOMIS SAYLES SMALL CAP GROWTH               
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                      2012                  2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $           (7,211)    $          (7,268)    $          (5,276)
   Net realized gains (losses)...............................             192,524               104,198              (47,680)
   Change in unrealized gains (losses) on investments........             678,535               121,090             1,843,398
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................             863,848               218,020             1,790,442
                                                              -------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............             809,473               919,698               919,140
   Net transfers (including fixed account)...................           (560,400)               627,796                81,273
   Policy charges............................................           (544,759)             (543,214)             (467,534)
   Transfers for policy benefits and terminations............           (652,904)             (472,962)             (486,248)
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................           (948,590)               531,318                46,631
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................            (84,742)               749,338             1,837,073
NET ASSETS:                                                                                                                  
   Beginning of year.........................................           8,179,779             7,430,441             5,593,368
                                                              -------------------    ------------------    ------------------
   End of year............................................... $         8,095,037    $        8,179,779    $        7,430,441
                                                              ===================    ==================    ==================


                                                                              MSF MET/ARTISAN MID CAP VALUE                  
                                                                                   INVESTMENT DIVISION                       
                                                              ---------------------------------------------------------------
                                                                     2012                  2011                   2010       
                                                              ------------------    -------------------   -------------------
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $          436,661    $           407,836   $           269,841
   Net realized gains (losses)...............................          (286,700)              (412,007)             (887,093)
   Change in unrealized gains (losses) on investments........          5,263,295              3,096,938             6,661,231
                                                              ------------------    -------------------   -------------------
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................          5,413,256              3,092,767             6,043,979
                                                              ------------------    -------------------   -------------------
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............          5,235,295              5,738,107             6,389,633
   Net transfers (including fixed account)...................          (939,024)              (545,207)             (144,561)
   Policy charges............................................        (3,448,574)            (3,492,122)           (3,452,818)
   Transfers for policy benefits and terminations............        (3,304,159)            (4,205,697)           (3,307,007)
                                                              ------------------    -------------------   -------------------
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................        (2,456,462)            (2,504,919)             (514,753)
                                                              ------------------    -------------------   -------------------
     Net increase (decrease) in net assets...................          2,956,794                587,848             5,529,226
NET ASSETS:                                                                                                                  
   Beginning of year.........................................         47,188,989             46,601,141            41,071,915
                                                              ------------------    -------------------   -------------------
   End of year............................................... $       50,145,783    $        47,188,989   $        46,601,141
                                                              ==================    ===================   ===================


                                                                           MSF METLIFE CONSERVATIVE ALLOCATION               
                                                                                   INVESTMENT DIVISION                       
                                                              ---------------------------------------------------------------
                                                                     2012                  2011                   2010       
                                                              ------------------    ------------------    -------------------
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $          138,695    $           90,783    $            97,058
   Net realized gains (losses)...............................            174,266                77,218                 46,459
   Change in unrealized gains (losses) on investments........            123,869              (37,275)                119,161
                                                              ------------------    ------------------    -------------------
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................            436,830               130,726                262,678
                                                              ------------------    ------------------    -------------------
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............            568,235               485,812                467,696
   Net transfers (including fixed account)...................          1,144,105               943,856              1,892,409
   Policy charges............................................          (430,185)             (382,404)              (312,969)
   Transfers for policy benefits and terminations............          (704,305)             (843,231)              (461,555)
                                                              ------------------    ------------------    -------------------
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................            577,850               204,033              1,585,581
                                                              ------------------    ------------------    -------------------
     Net increase (decrease) in net assets...................          1,014,680               334,759              1,848,259
NET ASSETS:                                                                                                                  
   Beginning of year.........................................          4,371,255             4,036,496              2,188,237
                                                              ------------------    ------------------    -------------------
   End of year............................................... $        5,385,935    $        4,371,255    $         4,036,496
                                                              ==================    ==================    ===================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                     MSF METLIFE CONSERVATIVE TO MODERATE ALLOCATION        
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $          205,059    $          143,058    $          181,977
   Net realized gains (losses)...............................             81,535               135,436                32,319
   Change in unrealized gains (losses) on investments........            541,162             (210,123)               421,073
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................            827,756                68,371               635,369
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          1,481,933               968,450             1,013,491
   Net transfers (including fixed account)...................            843,570             (142,377)             1,079,782
   Policy charges............................................          (736,496)             (655,066)             (608,098)
   Transfers for policy benefits and terminations............          (304,695)             (600,517)             (457,386)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................          1,284,312             (429,510)             1,027,789
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          2,112,068             (361,139)             1,663,158
NET ASSETS:                                                                                                                 
   Beginning of year.........................................          6,564,562             6,925,701             5,262,543
                                                              ------------------    ------------------    ------------------
   End of year............................................... $        8,676,630    $        6,564,562    $        6,925,701
                                                              ==================    ==================    ==================


                                                                             MSF METLIFE MID CAP STOCK INDEX                
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $          611,419    $          541,527    $          516,311
   Net realized gains (losses)...............................          3,617,861             3,401,215               248,370
   Change in unrealized gains (losses) on investments........          6,545,785           (4,954,472)            12,893,844
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................         10,775,065           (1,011,730)            13,658,525
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          6,251,227             6,663,417             7,250,885
   Net transfers (including fixed account)...................          (874,909)               550,217               173,240
   Policy charges............................................        (4,370,955)           (4,391,491)           (4,343,511)
   Transfers for policy benefits and terminations............        (4,820,226)           (4,758,860)           (4,634,928)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................        (3,814,863)           (1,936,717)           (1,554,314)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          6,960,202           (2,948,447)            12,104,211
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         62,847,615            65,796,062            53,691,851
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       69,807,817    $       62,847,615    $       65,796,062
                                                              ==================    ==================    ==================


                                                                             MSF METLIFE MODERATE ALLOCATION                
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $          983,338    $          602,357    $          822,448
   Net realized gains (losses)...............................            307,411               234,474                17,779
   Change in unrealized gains (losses) on investments........          3,912,908           (1,362,402)             3,378,733
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................          5,203,657             (525,571)             4,218,960
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          5,386,770             5,784,576             5,949,225
   Net transfers (including fixed account)...................          1,630,562             3,395,270             3,305,318
   Policy charges............................................        (3,268,135)           (3,141,873)           (3,007,922)
   Transfers for policy benefits and terminations............        (3,139,425)           (3,138,424)           (2,041,425)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................            609,772             2,899,549             4,205,196
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          5,813,429             2,373,978             8,424,156
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         39,588,309            37,214,331            28,790,175
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       45,401,738    $       39,588,309    $       37,214,331
                                                              ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                       MSF METLIFE MODERATE TO AGGRESSIVE ALLOCATION         
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                     2012                   2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $         1,452,530    $        1,000,387    $        1,217,258
   Net realized gains (losses)...............................             342,924               112,005             (102,509)
   Change in unrealized gains (losses) on investments........           8,619,633           (3,772,324)             7,116,457
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................          10,415,087           (2,659,932)             8,231,206
                                                              -------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............          10,953,737            12,078,791            13,837,630
   Net transfers (including fixed account)...................           (395,131)             1,724,329               655,595
   Policy charges............................................         (5,381,249)           (5,360,003)           (5,520,921)
   Transfers for policy benefits and terminations............         (4,722,972)           (4,677,007)           (4,588,662)
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................             454,385             3,766,110             4,383,642
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          10,869,472             1,106,178            12,614,848
NET ASSETS:                                                                                                                  
   Beginning of year.........................................          66,170,247            65,064,069            52,449,221
                                                              -------------------    ------------------    ------------------
   End of year............................................... $        77,039,719    $       66,170,247    $       65,064,069
                                                              ===================    ==================    ==================


                                                                                 MSF METLIFE STOCK INDEX                     
                                                                                   INVESTMENT DIVISION                       
                                                              ---------------------------------------------------------------
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    -------------------
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $       10,948,530    $        9,520,127    $         8,608,206
   Net realized gains (losses)...............................          8,830,477             3,790,443            (5,405,568)
   Change in unrealized gains (losses) on investments........         82,239,455           (2,093,968)             82,259,608
                                                              ------------------    ------------------    -------------------
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................        102,018,462            11,216,602             85,462,246
                                                              ------------------    ------------------    -------------------
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............         78,256,067            80,842,256             86,739,358
   Net transfers (including fixed account)...................       (12,171,521)           (3,601,844)           (12,182,904)
   Policy charges............................................       (45,906,276)          (44,463,278)           (44,666,653)
   Transfers for policy benefits and terminations............       (51,016,668)          (47,119,534)           (41,307,628)
                                                              ------------------    ------------------    -------------------
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................       (30,838,398)          (14,342,400)           (11,417,827)
                                                              ------------------    ------------------    -------------------
     Net increase (decrease) in net assets...................         71,180,064           (3,125,798)             74,044,419
NET ASSETS:                                                                                                                  
   Beginning of year.........................................        668,626,167           671,751,965            597,707,546
                                                              ------------------    ------------------    -------------------
   End of year............................................... $      739,806,231    $      668,626,167    $       671,751,965
                                                              ==================    ==================    ===================


                                                                                  MSF MFS TOTAL RETURN                       
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $          214,049    $          202,563    $          210,920 
   Net realized gains (losses)...............................             32,260              (29,847)              (99,947) 
   Change in unrealized gains (losses) on investments........            595,278              (11,189)               568,242 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................            841,587               161,527               679,215 
                                                              ------------------    ------------------    ------------------ 
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............            920,793             1,027,479               952,924 
   Net transfers (including fixed account)...................            252,642             (126,958)              (93,026) 
   Policy charges............................................          (606,480)             (606,881)             (587,009) 
   Transfers for policy benefits and terminations............          (627,444)             (801,101)             (377,989) 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................           (60,489)             (507,461)             (105,100) 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets...................            781,098             (345,934)               574,115 
NET ASSETS:                                                                                                                  
   Beginning of year.........................................          7,362,338             7,708,272             7,134,157 
                                                              ------------------    ------------------    ------------------ 
   End of year............................................... $        8,143,436    $        7,362,338    $        7,708,272 
                                                              ==================    ==================    ================== 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                                      MSF MFS VALUE                         
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $        1,031,624    $          789,787    $          666,823
   Net realized gains (losses)...............................            969,095              (44,982)             (425,864)
   Change in unrealized gains (losses) on investments........          6,505,435             (346,891)             5,358,513
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................          8,506,154               397,914             5,599,472
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          5,745,674             6,217,602             6,966,530
   Net transfers (including fixed account)...................          (975,483)               423,365                37,691
   Policy charges............................................        (3,989,183)           (3,874,897)           (3,954,096)
   Transfers for policy benefits and terminations............        (3,759,106)           (4,853,465)           (3,962,238)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................        (2,978,098)           (2,087,395)             (912,113)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          5,528,056           (1,689,481)             4,687,359
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         52,363,369            54,052,850            49,365,491
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       57,891,425    $       52,363,369    $       54,052,850
                                                              ==================    ==================    ==================


                                                                                   MSF MSCI EAFE INDEX                      
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $        1,958,070    $        1,512,474    $        1,531,593
   Net realized gains (losses)...............................           (63,228)               137,025             (236,046)
   Change in unrealized gains (losses) on investments........          9,143,347           (9,604,700)             3,674,685
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................         11,038,189           (7,955,201)             4,970,232
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          6,997,903             7,277,374             7,898,110
   Net transfers (including fixed account)...................        (1,236,350)             3,903,398             2,327,295
   Policy charges............................................        (4,297,245)           (4,316,752)           (4,373,289)
   Transfers for policy benefits and terminations............        (4,040,162)           (4,517,098)           (4,368,376)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................        (2,575,854)             2,346,922             1,483,740
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          8,462,335           (5,608,279)             6,453,972
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         59,759,550            65,367,829            58,913,857
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       68,221,885    $       59,759,550    $       65,367,829
                                                              ==================    ==================    ==================


                                                                              MSF NEUBERGER BERMAN GENESIS                  
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $          222,015    $          520,241    $          284,228
   Net realized gains (losses)...............................          (730,868)             (976,828)           (2,085,738)
   Change in unrealized gains (losses) on investments........          8,168,095             4,961,322            15,927,942
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................          7,659,242             4,504,735            14,126,432
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          8,263,575             8,942,665             9,951,447
   Net transfers (including fixed account)...................        (1,257,789)           (1,072,904)           (1,640,139)
   Policy charges............................................        (5,820,066)           (5,900,591)           (5,699,690)
   Transfers for policy benefits and terminations............        (5,714,422)           (5,912,935)           (5,453,013)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................        (4,528,702)           (3,943,765)           (2,841,395)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          3,130,540               560,970            11,285,037
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         79,279,066            78,718,096            67,433,059
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       82,409,606    $       79,279,066    $       78,718,096
                                                              ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                              MSF OPPENHEIMER GLOBAL EQUITY                 
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $          530,726    $          719,512    $          489,193
   Net realized gains (losses)...............................            700,180               892,248               362,727
   Change in unrealized gains (losses) on investments........          6,406,670           (5,213,727)             5,192,068
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................          7,637,576           (3,601,967)             6,043,988
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          3,535,071             3,587,418             3,921,178
   Net transfers (including fixed account)...................        (1,749,487)             (166,778)               130,181
   Policy charges............................................        (2,384,677)           (2,520,905)           (2,623,144)
   Transfers for policy benefits and terminations............        (2,687,363)           (3,507,119)           (2,648,050)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................        (3,286,456)           (2,607,384)           (1,219,835)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          4,351,120           (6,209,351)             4,824,153
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         37,497,219            43,706,570            38,882,417
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       41,848,339    $       37,497,219    $       43,706,570
                                                              ==================    ==================    ==================


                                                                                 MSF RUSSELL 2000 INDEX                     
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $          584,115    $          521,188    $          510,772
   Net realized gains (losses)...............................            721,576               734,988              (66,857)
   Change in unrealized gains (losses) on investments........          6,793,518           (3,300,203)            11,828,973
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................          8,099,209           (2,044,027)            12,272,888
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          5,255,166             5,547,834             6,030,913
   Net transfers (including fixed account)...................        (1,271,073)               238,532           (1,459,730)
   Policy charges............................................        (3,472,278)           (3,520,009)           (3,529,721)
   Transfers for policy benefits and terminations............        (3,852,208)           (5,646,773)           (3,961,411)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................        (3,340,393)           (3,380,416)           (2,919,949)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          4,758,816           (5,424,443)             9,352,939
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         51,171,784            56,596,227            47,243,288
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       55,930,600    $       51,171,784    $       56,596,227
                                                              ==================    ==================    ==================


                                                                           MSF T. ROWE PRICE LARGE CAP GROWTH               
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $           35,218    $           17,757    $           94,345
   Net realized gains (losses)...............................            996,117               908,859               253,453
   Change in unrealized gains (losses) on investments........          6,924,755           (1,383,140)             6,370,252
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................          7,956,090             (456,524)             6,718,050
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............          3,933,872             4,270,409             4,102,715
   Net transfers (including fixed account)...................          1,360,962               162,723           (1,629,305)
   Policy charges............................................        (3,253,193)           (3,125,126)           (3,094,462)
   Transfers for policy benefits and terminations............        (2,912,602)           (4,309,233)           (2,842,508)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................          (870,961)           (3,001,227)           (3,463,560)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................          7,085,129           (3,457,751)             3,254,490
NET ASSETS:                                                                                                                 
   Beginning of year.........................................         42,317,336            45,775,087            42,520,597
                                                              ------------------    ------------------    ------------------
   End of year............................................... $       49,402,465    $       42,317,336    $       45,775,087
                                                              ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                           MSF T. ROWE PRICE SMALL CAP GROWTH                
                                                                                   INVESTMENT DIVISION                       
                                                              -------------------------------------------------------------- 
                                                                     2012                  2011                  2010        
                                                              ------------------    ------------------    ------------------ 
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $        (304,065)    $        (301,663)    $        (258,469) 
   Net realized gains (losses)...............................         11,464,320             2,332,511               562,971 
   Change in unrealized gains (losses) on investments........          2,263,900             (846,789)            22,601,563 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................         13,424,155             1,184,059            22,906,065 
                                                              ------------------    ------------------    ------------------ 
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............          7,087,296             6,244,277             6,679,778 
   Net transfers (including fixed account)...................        (2,999,440)             3,733,237             (365,817) 
   Policy charges............................................        (5,536,576)           (5,439,543)           (4,980,465) 
   Transfers for policy benefits and terminations............        (5,390,198)           (6,901,125)           (5,044,716) 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................        (6,838,918)           (2,363,154)           (3,711,220) 
                                                              ------------------    ------------------    ------------------ 
     Net increase (decrease) in net assets...................          6,585,237           (1,179,095)            19,194,845 
NET ASSETS:                                                                                                                  
   Beginning of year.........................................         86,825,771            88,004,866            68,810,021 
                                                              ------------------    ------------------    ------------------ 
   End of year............................................... $       93,411,008    $       86,825,771    $       88,004,866 
                                                              ==================    ==================    ================== 


                                                                MSF VAN ECK GLOBAL NATURAL RESOURCES                         
                                                                         INVESTMENT DIVISION                                 
                                                              -----------------------------------------                      
                                                                     2012                 2011 (d)                           
                                                              -------------------   -------------------                      
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $                --   $                --                      
   Net realized gains (losses)...............................               1,884                  (45)                      
   Change in unrealized gains (losses) on investments........             (2,269)               (2,198)                      
                                                              -------------------   -------------------                      
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................               (385)               (2,243)                      
                                                              -------------------   -------------------                      
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............              16,626                 3,321                      
   Net transfers (including fixed account)...................              29,151                12,824                      
   Policy charges............................................             (5,086)                 (710)                      
   Transfers for policy benefits and terminations............                (62)                  (13)                      
                                                              -------------------   -------------------                      
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................              40,629                15,422                      
                                                              -------------------   -------------------                      
     Net increase (decrease) in net assets...................              40,244                13,179                      
NET ASSETS:                                                                                                                  
   Beginning of year.........................................              13,179                    --                      
                                                              -------------------   -------------------                      
   End of year............................................... $            53,423   $            13,179                      
                                                              ===================   ===================                      


                                                                 MSF WESTERN ASSET MANAGEMENT STRATEGIC BOND OPPORTUNITIES   
                                                                                    INVESTMENT DIVISION                      
                                                              ---------------------------------------------------------------
                                                                      2012                  2011                  2010       
                                                              -------------------    ------------------    ------------------
                                                                                                                             
INCREASE (DECREASE) IN NET ASSETS:                                                                                           
FROM OPERATIONS:                                                                                                             
   Net investment income (loss).............................. $           859,018    $        1,177,683    $        1,305,428
   Net realized gains (losses)...............................             204,230               144,847                71,403
   Change in unrealized gains (losses) on investments........           1,584,984                64,600             1,196,007
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from operations.......................................           2,648,232             1,387,130             2,572,838
                                                              -------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                         
   Premium payments received from policy owners..............           2,376,193             2,593,403             2,832,832
   Net transfers (including fixed account)...................             559,734             (646,114)             1,156,919
   Policy charges............................................         (1,697,175)           (1,707,630)           (1,738,340)
   Transfers for policy benefits and terminations............         (1,967,837)           (1,876,403)           (1,617,829)
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                         
       from policy transactions..............................           (729,085)           (1,636,744)               633,582
                                                              -------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................           1,919,147             (249,614)             3,206,420
NET ASSETS:                                                                                                                  
   Beginning of year.........................................          23,536,888            23,786,502            20,580,082
                                                              -------------------    ------------------    ------------------
   End of year............................................... $        25,456,035    $       23,536,888    $       23,786,502
                                                              ===================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]


                                                                   MSF WESTERN ASSET MANAGEMENT U.S. GOVERNMENT          
                                                                                INVESTMENT DIVISION                      
                                                            -------------------------------------------------------------
                                                                   2012                 2011                  2010       
                                                            ------------------    -----------------    ------------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $          330,891    $         229,900    $          429,880
   Net realized gains (losses).............................             19,763              564,972                49,043
   Change in unrealized gains (losses) on investments......            185,906               82,587               435,726
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................            536,560              877,459               914,649
                                                            ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............          1,850,612            2,130,621             2,331,803
   Net transfers (including fixed account).................            271,627            (428,475)             (168,918)
   Policy charges..........................................        (1,308,474)          (1,367,530)           (1,428,018)
   Transfers for policy benefits and terminations..........        (1,163,575)          (1,409,928)           (1,375,135)
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................          (349,810)          (1,075,312)             (640,268)
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets.................            186,750            (197,853)               274,381
NET ASSETS:                                                                                                              
   Beginning of year.......................................         16,435,798           16,633,651            16,359,270
                                                            ------------------    -----------------    ------------------
   End of year............................................. $       16,622,548    $      16,435,798    $       16,633,651
                                                            ==================    =================    ==================


                                                                                                         PIMCO VIT       
                                                                                                      LONG-TERM U.S.     
                                                                      PIMCO VIT ALL ASSET               GOVERNMENT       
                                                                      INVESTMENT DIVISION           INVESTMENT DIVISION  
                                                            --------------------------------------- -------------------  
                                                                   2012                2011 (d)          2012 (g)        
                                                            ------------------    ----------------- -------------------  
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $            6,301    $           2,796 $              232   
   Net realized gains (losses).............................                190                   --              2,932   
   Change in unrealized gains (losses) on investments......              8,832              (1,176)            (2,899)   
                                                            ------------------    ----------------- -------------------  
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................             15,323                1,620                265   
                                                            ------------------    ----------------- -------------------  
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............                 --                8,337                 --   
   Net transfers (including fixed account).................             24,949               86,523             29,939   
   Policy charges..........................................            (4,485)                (342)               (96)   
   Transfers for policy benefits and terminations..........                (6)                   --                 --   
                                                            ------------------    ----------------- -------------------  
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................             20,458               94,518             29,843   
                                                            ------------------    ----------------- -------------------  
     Net increase (decrease) in net assets.................             35,781               96,138             30,108   
NET ASSETS:                                                                                                              
   Beginning of year.......................................             96,138                   --                 --   
                                                            ------------------    ----------------- -------------------  
   End of year............................................. $          131,919    $          96,138 $           30,108   
                                                            ==================    ================= ===================  



                                                                              PIMCO VIT LOW DURATION                     
                                                                                INVESTMENT DIVISION                      
                                                            ------------------------------------------------------------ 
                                                                   2012                 2011                  2010       
                                                            -----------------    ------------------    ----------------- 
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $          18,366    $           13,732    $          12,187 
   Net realized gains (losses).............................             1,749                   618                2,729 
   Change in unrealized gains (losses) on investments......            34,493               (6,243)               23,685 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................            54,608                 8,107               38,601 
                                                            -----------------    ------------------    ----------------- 
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............            33,008                43,028                   -- 
   Net transfers (including fixed account).................           (5,071)               153,678                   32 
   Policy charges..........................................          (42,837)              (21,336)             (10,848) 
   Transfers for policy benefits and terminations..........             (202)                    --                   -- 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................          (15,102)               175,370             (10,816) 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets.................            39,506               183,477               27,785 
NET ASSETS:                                                                                                              
   Beginning of year.......................................           946,008               762,531              734,746 
                                                            -----------------    ------------------    ----------------- 
   End of year............................................. $         985,514    $          946,008    $         762,531 
                                                            =================    ==================    ================= 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                           PIONEER VCT EMERGING MARKETS                  
                                                                                INVESTMENT DIVISION                      
                                                            -------------------------------------------------------------
                                                                   2012                 2011                  2010       
                                                            ------------------   ------------------    ------------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $            1,600   $               --    $            3,039
   Net realized gains (losses).............................             22,375              121,447                75,682
   Change in unrealized gains (losses) on investments......             20,209            (327,299)                68,690
                                                            ------------------   ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................             44,184            (205,852)               147,411
                                                            ------------------   ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............             83,715              104,589               102,565
   Net transfers (including fixed account).................            166,019              193,458                72,459
   Policy charges..........................................           (22,137)             (25,931)              (27,778)
   Transfers for policy benefits and terminations..........                 --            (649,132)              (82,614)
                                                            ------------------   ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................            227,597            (377,016)                64,632
                                                            ------------------   ------------------    ------------------
     Net increase (decrease) in net assets.................            271,781            (582,868)               212,043
NET ASSETS:                                                                                                              
   Beginning of year.......................................            401,298              984,166               772,123
                                                            ------------------   ------------------    ------------------
   End of year............................................. $          673,079   $          401,298    $          984,166
                                                            ==================   ==================    ==================


                                                                             PIONEER VCT MID CAP VALUE                   
                                                                                INVESTMENT DIVISION                      
                                                            -------------------------------------------------------------
                                                                   2012                 2011                  2010       
                                                            ------------------    -----------------    ------------------
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $            1,561    $           1,190    $              801
   Net realized gains (losses).............................                595                  580                   313
   Change in unrealized gains (losses) on investments......             12,468             (11,556)                14,039
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................             14,624              (9,786)                15,153
                                                            ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............              8,995                   --                 7,217
   Net transfers (including fixed account).................              1,893               51,112                59,471
   Policy charges..........................................            (6,747)              (6,021)               (3,748)
   Transfers for policy benefits and terminations..........                 --                  (3)                  (18)
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................              4,141               45,088                62,922
                                                            ------------------    -----------------    ------------------
     Net increase (decrease) in net assets.................             18,765               35,302                78,075
NET ASSETS:                                                                                                              
   Beginning of year.......................................            134,780               99,478                21,403
                                                            ------------------    -----------------    ------------------
   End of year............................................. $          153,545    $         134,780    $           99,478
                                                            ==================    =================    ==================


                                                                                  ROYCE MICRO-CAP                        
                                                                                INVESTMENT DIVISION                      
                                                            ------------------------------------------------------------ 
                                                                  2012                  2011               2010 (a)      
                                                            -----------------    ------------------    ----------------- 
                                                                                                                         
INCREASE (DECREASE) IN NET ASSETS:                                                                                       
FROM OPERATIONS:                                                                                                         
   Net investment income (loss)............................ $              --    $            8,331    $           5,659 
   Net realized gains (losses).............................             9,077                 1,545                  197 
   Change in unrealized gains (losses) on investments......            15,667              (52,132)               61,964 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets resulting                                                                     
       from operations.....................................            24,744              (42,256)               67,820 
                                                            -----------------    ------------------    ----------------- 
POLICY TRANSACTIONS:                                                                                                     
   Premium payments received from policy owners............            49,620                 4,792               53,592 
   Net transfers (including fixed account).................                --                 7,703              236,555 
   Policy charges..........................................           (7,913)               (8,474)              (4,842) 
   Transfers for policy benefits and terminations..........           (4,908)                  (11)              (4,416) 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets resulting                                                                     
       from policy transactions............................            36,799                 4,010              280,889 
                                                            -----------------    ------------------    ----------------- 
     Net increase (decrease) in net assets.................            61,543              (38,246)              348,709 
NET ASSETS:                                                                                                              
   Beginning of year.......................................           310,463               348,709                   -- 
                                                            -----------------    ------------------    ----------------- 
   End of year............................................. $         372,006    $          310,463    $         348,709 
                                                            =================    ==================    ================= 

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONTINUED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                                    ROYCE SMALL-CAP                       
                                                                                  INVESTMENT DIVISION                     
                                                             -------------------------------------------------------------
                                                                    2012                  2011                  2010      
                                                             ------------------    ------------------    -----------------
                                                                                                                          
INCREASE (DECREASE) IN NET ASSETS:                                                                                        
FROM OPERATIONS:                                                                                                          
   Net investment income (loss)............................. $              586    $            3,804    $             425
   Net realized gains (losses)..............................             35,664                18,080                2,111
   Change in unrealized gains (losses) on investments.......             34,489              (64,398)               63,066
                                                             ------------------    ------------------    -----------------
     Net increase (decrease) in net assets resulting                                                                      
       from operations......................................             70,739              (42,514)               65,602
                                                             ------------------    ------------------    -----------------
POLICY TRANSACTIONS:                                                                                                      
   Premium payments received from policy owners.............              8,995                 4,584               22,886
   Net transfers (including fixed account)..................          (281,935)               740,973              257,401
   Policy charges...........................................           (10,669)              (19,814)              (8,157)
   Transfers for policy benefits and terminations...........                 --             (321,629)              (3,061)
                                                             ------------------    ------------------    -----------------
     Net increase (decrease) in net assets resulting                                                                      
       from policy transactions.............................          (283,609)               404,114              269,069
                                                             ------------------    ------------------    -----------------
     Net increase (decrease) in net assets..................          (212,870)               361,600              334,671
NET ASSETS:                                                                                                               
   Beginning of year........................................            754,742               393,142               58,471
                                                             ------------------    ------------------    -----------------
   End of year.............................................. $          541,872    $          754,742    $         393,142
                                                             ==================    ==================    =================


                                                                               UIF EMERGING MARKETS DEBT                  
                                                                                  INVESTMENT DIVISION                     
                                                             -------------------------------------------------------------
                                                                    2012                  2011                 2010       
                                                             ------------------    -----------------    ------------------
                                                                                                                          
INCREASE (DECREASE) IN NET ASSETS:                                                                                        
FROM OPERATIONS:                                                                                                          
   Net investment income (loss)............................. $           16,821    $           7,775    $              318
   Net realized gains (losses)..............................              2,466                2,814                    87
   Change in unrealized gains (losses) on investments.......             89,788                   79                   318
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                      
       from operations......................................            109,075               10,668                   723
                                                             ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                      
   Premium payments received from policy owners.............             64,771                2,057                 2,057
   Net transfers (including fixed account)..................            599,117              408,567                    --
   Policy charges...........................................           (10,880)              (4,269)               (1,095)
   Transfers for policy benefits and terminations...........              (483)              (3,368)                  (89)
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                      
       from policy transactions.............................            652,525              402,987                   873
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets..................            761,600              413,655                 1,596
NET ASSETS:                                                                                                               
   Beginning of year........................................            420,998                7,343                 5,747
                                                             ------------------    -----------------    ------------------
   End of year.............................................. $        1,182,598    $         420,998    $            7,343
                                                             ==================    =================    ==================


                                                                             UIF EMERGING MARKETS EQUITY                  
                                                                                 INVESTMENT DIVISION                      
                                                             -------------------------------------------------------------
                                                                    2012                 2011                  2010       
                                                             ------------------    -----------------    ------------------
                                                                                                                          
INCREASE (DECREASE) IN NET ASSETS:                                                                                        
FROM OPERATIONS:                                                                                                          
   Net investment income (loss)............................. $               --    $           1,515    $              758
   Net realized gains (losses)..............................               (26)                4,478                   899
   Change in unrealized gains (losses) on investments.......            139,206             (99,779)                38,992
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                      
       from operations......................................            139,180             (93,786)                40,649
                                                             ------------------    -----------------    ------------------
POLICY TRANSACTIONS:                                                                                                      
   Premium payments received from policy owners.............             70,772                2,923                 2,451
   Net transfers (including fixed account)..................            302,018              444,567               157,781
   Policy charges...........................................           (17,053)             (11,985)               (7,467)
   Transfers for policy benefits and terminations...........              (361)                   --               (1,388)
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets resulting                                                                      
       from policy transactions.............................            355,376              435,505               151,377
                                                             ------------------    -----------------    ------------------
     Net increase (decrease) in net assets..................            494,556              341,719               192,026
NET ASSETS:                                                                                                               
   Beginning of year........................................            539,388              197,669                 5,643
                                                             ------------------    -----------------    ------------------
   End of year.............................................. $        1,033,944    $         539,388    $          197,669
                                                             ==================    =================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
STATEMENTS OF CHANGES IN NET ASSETS -- (CONCLUDED)    
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010    

                                                        [Enlarge/Download Table]

                                                                            WELLS FARGO VT TOTAL RETURN BOND                
                                                                                   INVESTMENT DIVISION                      
                                                              --------------------------------------------------------------
                                                                     2012                  2011                  2010       
                                                              ------------------    ------------------    ------------------
                                                                                                                            
INCREASE (DECREASE) IN NET ASSETS:                                                                                          
FROM OPERATIONS:                                                                                                            
   Net investment income (loss).............................. $            4,369    $           18,903    $           29,774
   Net realized gains (losses)...............................              7,755                45,796                34,459
   Change in unrealized gains (losses) on investments........              5,968               (7,169)              (12,496)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from operations.......................................             18,092                57,530                51,737
                                                              ------------------    ------------------    ------------------
POLICY TRANSACTIONS:                                                                                                        
   Premium payments received from policy owners..............             45,280                66,775               158,432
   Net transfers (including fixed account)...................            301,563             (413,486)               386,034
   Policy charges............................................           (11,089)              (19,736)              (22,616)
   Transfers for policy benefits and terminations............                 --             (637,284)              (26,909)
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets resulting                                                                        
       from policy transactions..............................            335,754           (1,003,731)               494,941
                                                              ------------------    ------------------    ------------------
     Net increase (decrease) in net assets...................            353,846             (946,201)               546,678
NET ASSETS:                                                                                                                 
   Beginning of year.........................................            135,214             1,081,415               534,737
                                                              ------------------    ------------------    ------------------
   End of year............................................... $          489,060    $          135,214    $        1,081,415
                                                              ==================    ==================    ==================

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

The accompanying notes are an integral part of these financial statements.    

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS   

1. ORGANIZATION                                                                 

Metropolitan Life Separate Account UL (the "Separate Account"), a separate      
account of Metropolitan Life Insurance Company (the "Company"), was established 
by the Company's Board of Directors on December 13, 1988 to support operations  
of the Company with respect to certain variable life insurance policies (the    
"Policies"). The Company is a direct wholly-owned subsidiary of MetLife, Inc.,  
a Delaware corporation. The Separate Account is registered as a unit investment 
trust under the Investment Company Act of 1940, as amended, and exists in       
accordance with the regulations of the New York State Department of Financial   
Services.                                                                       

The Separate Account is divided into Investment Divisions, each of which is     
treated as an individual accounting entity for financial reporting purposes.    
Each Investment Division invests in shares of the corresponding fund,           
portfolio, or series (with the same name) of registered investment management   
companies (the "Trusts"), which are presented below:                            

                                                        [Enlarge/Download Table]
                                                                                                            
AllianceBernstein Variable Products Series Fund, Inc.  Janus Aspen Series ("Janus Aspen")                   
("AllianceBernstein")                                  Legg Mason Partners Variable Equity Trust            
American Century Variable Portfolios, Inc. ("American  ("LMPVET")                                           
Century VP")                                           Met Investors Series Trust ("MIST")*                 
American Funds Insurance Series ("American Funds")     Metropolitan Series Fund ("MSF")*                    
Dreyfus Variable Investment Fund ("Dreyfus VIF")       MFS Variable Insurance Trust ("MFS VIT")             
Fidelity Variable Insurance Products ("Fidelity VIP")  Oppenheimer Variable Account Funds ("Oppenheimer VA")
Franklin Templeton Variable Insurance Products Trust   PIMCO Variable Insurance Trust ("PIMCO VIT")         
("FTVIPT")                                             Pioneer Variable Contracts Trust ("Pioneer VCT")     
Goldman Sachs Variable Insurance Trust ("Goldman       Putnam Variable Trust ("Putnam VT")                  
Sachs")                                                Royce Capital Fund ("Royce")                         
AIM Variable Insurance Funds (Invesco Variable         The Universal Institutional Funds, Inc. ("UIF")      
Insurance Funds) ("Invesco V.I.")                      Wells Fargo Variable Trust ("Wells Fargo VT")        

*See Note 6 for a discussion of additional information on related party         
transactions.                                                                   

The assets of each of the Investment Divisions of the Separate Account are      
registered in the name of the Company. Under applicable insurance law, the      
assets and liabilities of the Separate Account are clearly identified and       
distinguished from the Company's other assets and liabilities. The portion of   
the Separate Account's assets applicable to the Policies is not chargeable with 
liabilities arising out of any other business the Company may conduct.          

2. LIST OF INVESTMENT DIVISIONS                                                 

A. Premium payments, less any applicable charges, applied to the Separate       
Account are invested in one or more Investment Divisions in accordance with the 
selection made by the policy owner. The following Investment Divisions had net  
assets as of December 31, 2012:                                                 

                                                        [Enlarge/Download Table]
                                                                                                        
AllianceBernstein Global Thematic Growth Investment  American Funds High-Income Bond Investment         
   Division                                            Division                                         
AllianceBernstein Intermediate Bond Investment       American Funds International Investment Division   
   Division                                          American Funds U.S. Government/AAA-Rated           
AllianceBernstein International Value Investment       Securities Investment Division                   
   Division                                          Dreyfus VIF International Value Investment Division
American Century VP Vista Investment Division        Fidelity VIP Asset Manager: Growth Investment      
American Funds Bond Investment Division                Division                                         
American Funds Global Small Capitalization           Fidelity VIP Contrafund Investment Division        
   Investment Division                               Fidelity VIP Equity-Income Investment Division     
American Funds Growth Investment Division            Fidelity VIP Freedom 2010 Investment Division      
American Funds Growth-Income Investment Division     Fidelity VIP Freedom 2020 Investment Division      

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

2. LIST OF INVESTMENT DIVISIONS -- (CONTINUED)                                  

                                                        [Enlarge/Download Table]
                                                                                                            
Fidelity VIP Freedom 2030 Investment Division            MIST Legg Mason ClearBridge Aggressive Growth      
Fidelity VIP Freedom 2050 Investment Division              Investment Division                              
Fidelity VIP High Income Investment Division             MIST Lord Abbett Bond Debenture Investment         
Fidelity VIP Investment Grade Bond Investment Division     Division                                         
Fidelity VIP Mid Cap Investment Division                 MIST Lord Abbett Mid Cap Value Investment Division 
FTVIPT Mutual Global Discovery Securities                MIST Met/Franklin Income Investment Division       
   Investment Division                                   MIST Met/Franklin Mutual Shares Investment Division
FTVIPT Templeton Foreign Securities Investment           MIST Met/Franklin Templeton Founding Strategy      
   Division                                                Investment Division                              
FTVIPT Templeton Global Bond Securities Investment       MIST Met/Templeton Growth Investment Division      
   Division                                              MIST Met/Templeton International Bond Investment   
Goldman Sachs Mid-Cap Value Investment Division            Division (b)                                     
Goldman Sachs Structured Small Cap Equity                MIST MetLife Aggressive Strategy Investment        
   Investment Division                                     Division (a)                                     
Invesco V.I. Global Real Estate Investment Division      MIST MetLife Balanced Plus Investment Division (b) 
Invesco V.I. Government Securities Investment            MIST MFS Emerging Markets Equity Investment        
   Division                                                Division                                         
Invesco V.I. International Growth Investment Division    MIST MFS Research International Investment         
Invesco V.I. Van Kampen Comstock Investment Division       Division (a)                                     
Janus Aspen Balanced Investment Division                 MIST MLA Mid Cap Investment Division (a)           
Janus Aspen Forty Investment Division                    MIST Morgan Stanley Mid Cap Growth Investment      
Janus Aspen Janus Investment Division                      Division                                         
Janus Aspen Overseas Investment Division                 MIST PIMCO Inflation Protected Bond Investment     
MFS VIT Global Equity Investment Division                  Division                                         
MFS VIT High Income Investment Division                  MIST PIMCO Total Return Investment Division        
MFS VIT New Discovery Investment Division                MIST Pioneer Fund Investment Division              
MFS VIT Value Investment Division                        MIST RCM Technology Investment Division            
MIST AllianceBernstein Global Dynamic Allocation         MIST Schroders Global Multi-Asset Investment       
   Investment Division (b)                                 Division (b)                                     
MIST American Funds Balanced Allocation                  MIST SSgA Growth and Income ETF Investment         
   Investment Division                                     Division                                         
MIST American Funds Growth Allocation Investment         MIST SSgA Growth ETF Investment Division           
   Division                                              MIST T. Rowe Price Large Cap Value Investment      
MIST American Funds Moderate Allocation                    Division                                         
   Investment Division                                   MIST T. Rowe Price Mid Cap Growth Investment       
MIST AQR Global Risk Balanced Investment                   Division (a)                                     
   Division (b)                                          MIST Third Avenue Small Cap Value Investment       
MIST BlackRock Global Tactical Strategies Investment       Division                                         
   Division (b)                                          MSF Baillie Gifford International Stock Investment 
MIST BlackRock Large Cap Core Investment Division          Division                                         
MIST Clarion Global Real Estate Investment Division (a)  MSF Barclays Capital Aggregate Bond Index          
MIST Dreman Small Cap Value Investment Division            Investment Division                              
MIST Harris Oakmark International Investment Division    MSF BlackRock Aggressive Growth Investment         
MIST Invesco Balanced-Risk Allocation Investment           Division                                         
   Division (b)                                          MSF BlackRock Bond Income Investment Division      
MIST Invesco Small Cap Growth Investment Division (a)    MSF BlackRock Diversified Investment Division      
MIST Janus Forty Investment Division                     MSF BlackRock Large Cap Value Investment Division  
MIST JPMorgan Global Active Allocation Investment        MSF BlackRock Diversified Investment Division      
   Division (b)                                          MSF BlackRock Large Cap Value Investment Division  

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

2. LIST OF INVESTMENT DIVISIONS -- (CONCLUDED)                                  

                                                        [Enlarge/Download Table]
                                                                                                   
MSF BlackRock Legacy Large Cap Growth Investment  MSF Neuberger Berman Genesis Investment Division 
   Division                                       MSF Oppenheimer Global Equity Investment Division
MSF BlackRock Money Market Investment Division    MSF Russell 2000 Index Investment Division       
MSF Davis Venture Value Investment Division       MSF T. Rowe Price Large Cap Growth Investment    
MSF FI Value Leaders Investment Division            Division                                       
MSF Jennison Growth Investment Division           MSF T. Rowe Price Small Cap Growth Investment    
MSF Loomis Sayles Small Cap Core Investment         Division                                       
   Division                                       MSF Van Eck Global Natural Resources Investment  
MSF Loomis Sayles Small Cap Growth Investment       Division                                       
   Division                                       MSF Western Asset Management Strategic Bond      
MSF Met/Artisan Mid Cap Value Investment            Opportunities Investment Division              
   Division (a)                                   MSF Western Asset Management U.S. Government     
MSF MetLife Conservative Allocation Investment      Investment Division                            
   Division (a)                                   PIMCO VIT All Asset Investment Division          
MSF MetLife Conservative to Moderate Allocation   PIMCO VIT Long-Term U.S. Government Investment   
   Investment Division (a)                          Division                                       
MSF MetLife Mid Cap Stock Index Investment        PIMCO VIT Low Duration Investment Division       
   Division                                       Pioneer VCT Emerging Markets Investment Division 
MSF MetLife Moderate Allocation Investment        Pioneer VCT Mid Cap Value Investment Division    
   Division (a)                                   Royce Micro-Cap Investment Division              
MSF MetLife Moderate to Aggressive Allocation     Royce Small-Cap Investment Division              
   Investment Division (a)                        UIF Emerging Markets Debt Investment Division    
MSF MetLife Stock Index Investment Division       UIF Emerging Markets Equity Investment Division  
MSF MFS Total Return Investment Division (a)      Wells Fargo VT Total Return Bond Investment      
MSF MFS Value Investment Division                   Division                                       
MSF MSCI EAFE Index Investment Division                                                            

(a) This Investment Division invests in two or more share classes within the    
underlying fund, portfolio, or series of the Trusts.                            
(b) This Investment Division began operations during the year ended December    
31, 2012.                                                                       

B. The following Investment Divisions had no net assets as of December 31,      
2012:                                                                           

                                                        [Enlarge/Download Table]
                                                                                                
Fidelity VIP Freedom 2015 Investment Division  Oppenheimer VA Main Street Small- & Mid-Cap      
Fidelity VIP Freedom 2025 Investment Division     Investment Division                           
Fidelity VIP Freedom 2040 Investment Division  Putnam VT International Value Investment Division
Janus Aspen Enterprise Investment Division                                                      
LMPVET Investment Counsel Variable Social                                                       
   Awareness Investment Division                                                                

3. PORTFOLIO CHANGES                                                            

The following Investment Divisions ceased operations during the year ended      
December 31, 2012:                                                              

MIST Oppenheimer Capital Appreciation Investment Division                       
MSF Lord Abbett Mid Cap Value Sub-Account                                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

3. PORTFOLIO CHANGES -- (CONCLUDED)                                             

The operations of the Investment Divisions were affected by the following       
changes that occurred during the year ended December 31, 2012:                  

NAME CHANGES:                                                                   

                                                        [Enlarge/Download Table]
                                                                                                   
Former Name                                     New Name                                           

(MIST) Lazard Mid Cap Portfolio                 (MIST) MLA Mid Cap Portfolio                       
(MIST) Rainer Large Cap Equity Portfolio        (MIST) Jennison Large Cap Equity Portfolio         
(MSF) Artio International Stock Portfolio       (MSF) Baillie Gifford International Stock Portfolio
(MSF) Morgan Stanley EAFE Index Portfolio       (MSF) MSCI EAFE Index Portfolio                    
(MSF) Neuberger Berman Mid Cap Value Portfolio  (MSF) Lord Abbett Mid Cap Value Portfolio          

MERGERS:                                                                        

                                                        [Enlarge/Download Table]
                                                                                             
Former Portfolio                                   New Portfolio                             

(MIST) Oppenheimer Capital Appreciation Portfolio  (MSF) Jennison Growth Portfolio           
(MSF) Lord Abbett Mid Cap Value Portfolio          (MIST) Lord Abbett Mid Cap Value Portfolio

4. SIGNIFICANT ACCOUNTING POLICIES                                              

BASIS OF ACCOUNTING                                                             
The financial statements have been prepared in accordance with accounting       
principles generally accepted in the United States of America ("GAAP")          
applicable for variable life separate accounts registered as unit investment    
trusts.                                                                         

SECURITY TRANSACTIONS                                                           
Security transactions are recorded on a trade date basis. Realized gains and    
losses on the sales of investments are computed on the basis of the average     
cost of the investment sold. Income from dividends and realized gain            
distributions are recorded on the ex-distribution date.                         

SECURITY VALUATION                                                              
An Investment Division's investment in shares of a fund, portfolio, or series   
of the Trusts is valued at fair value based on the closing net asset value      
("NAV") or price per share as determined by the Trusts as of the end of the     
year. All changes in fair value are recorded as changes in unrealized gains     
(losses) on investments in the statements of operations of the applicable       
Investment Divisions.                                                           

The Separate Account defines fair value as the price that would be received to  
sell an asset or paid to transfer a liability (an exit price) in the principal  
or most advantageous market for the asset or liability in an orderly            
transaction between market participants on the measurement date. The Separate   
Account prioritizes the inputs to fair valuation techniques and allows for the  
use of unobservable inputs to the extent that observable inputs are not         
available. The Separate Account has categorized its assets based on the         
priority of the inputs to the respective valuation technique. The fair value    
hierarchy gives the highest priority to quoted prices in active markets for     
identical assets (Level 1) and the lowest priority to unobservable inputs       
(Level 3). An asset's classification within the fair value hierarchy is based   
on the lowest level of significant input to its valuation. The input levels are 
as follows:                                                                     

Level 1 Unadjusted quoted prices in active markets for identical assets         
that the Separate Account has the ability to access.            
Level 2 Observable inputs other than quoted prices in Level 1 that are          
  observable either directly or indirectly. These inputs may include
   quoted prices for the identical instrument on an inactive market or
prices for similar instruments.                                 
Level 3 Unobservable inputs that are supported by little or no market           
activity and are significant to the fair value of the assets,   
representing the Separate Account's own assumptions about the   
    assumptions a market participant would use in valuing the asset, and
based on the best information available.                        

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

4. SIGNIFICANT ACCOUNTING POLICIES -- (CONCLUDED)                               

SECURITY VALUATION -- (CONCLUDED)                                               
Each Investment Division invests in shares of open-end mutual funds which       
calculate a daily NAV based on the fair value of the underlying securities in   
their portfolios. As a result, and as required by law, shares of open-end       
mutual funds are purchased and redeemed at their quoted daily NAV as reported   
by the Trusts at the close of each business day. On that basis, the inputs used 
to value all shares held by the Separate Account, which are measured at fair    
value on a recurring basis, are classified as Level 2. There were no transfers  
between Level 1 and Level 2, and no activity in Level 3 during the year.        

FEDERAL INCOME TAXES                                                            
The operations of the Separate Account form a part of the total operations of   
the Company and are not taxed separately. The Company is taxed as a life        
insurance company under the provisions of the Internal Revenue Code ("IRC").    
Under the current provisions of the IRC, the Company does not expect to incur   
federal income taxes on the earnings of the Separate Account to the extent the  
earnings are credited under the Policies. Accordingly, no charge is currently   
being made to the Separate Account for federal income taxes. The Company will   
periodically review the status of this policy in the event of changes in the    
tax law. A charge may be made in future years for any federal income taxes that 
would be attributable to the Policies.                                          

PREMIUM PAYMENTS                                                                
The Company deducts a sales charge for certain policies and a state premium tax 
charge from premiums before amounts are allocated to the Separate Account. In   
the case of certain Policies, the Company also deducts a federal income tax     
charge before amounts are allocated to the Separate Account. This federal       
income tax charge is imposed in connection with certain Policies to recover a   
portion of the federal income tax adjustment attributable to policy acquisition 
expenses. Net premiums are reported as premium payments received from policy    
owners on the statements of changes in net assets of the applicable Investment  
Divisions and are credited as accumulation units.                               

NET TRANSFERS                                                                   
Funds transferred by the policy owner into or out of Investment Divisions       
within the Separate Account or into or out of the fixed account (an investment  
option in the Company's general account) are recorded on a net basis as net     
transfers in the statements of changes in net assets of the applicable          
Investment Divisions.                                                           

USE OF ESTIMATES                                                                
The preparation of financial statements in accordance with GAAP requires        
management to make estimates and assumptions that affect amounts reported       
herein. Actual results could differ from these estimates.                       

ADOPTION OF NEW ACCOUNTING PRONOUNCEMENTS                                       
Effective January 1, 2012, the Separate Account adopted new guidance regarding  
fair value measurements that establishes common requirements for measuring fair 
value and for disclosing information about fair value measurements in           
accordance with GAAP and International Financial Reporting Standards. Some of   
the amendments clarify the Financial Accounting Standards Board's intent on the 
application of existing fair value measurement requirements. Other amendments   
change a particular principle or requirement for measuring fair value or for    
disclosing information about fair value measurements. The adoption did not have 
an impact on the Separate Account's financial statements.                       

Effective January 1, 2010, the Separate Account adopted new guidance that       
requires new disclosures about significant transfers in and/or out of Levels 1  
and 2 of the fair value hierarchy and activity in Level 3. In addition, this    
guidance provides clarification of existing disclosure requirements about the   
level of disaggregation and inputs and valuation techniques. The adoption of    
this guidance did not have an impact on the Separate Account's financial        
statements.                                                                     

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

5. CHANGE IN ACCOUNTING METHOD                                                  

PRESENTATION OF MORTALITY AND EXPENSE RISK CHARGES                              
Previously, mortality and expense risk charges ("M&E") for all Polices were     
reported as "Mortality and expense risk charges" in the Statements of           
Operations. Although M&E charges are generally assessed through the reduction   
in unit values, certain Policies assess their M&E charges through the           
redemption of units. The Investment Divisions changed their accounting method   
to report M&E charges assessed through the redemption of units as "Policy       
charges" in the Statements of Changes in Net Assets. This method is preferable  
as it results in these M&E charges being reported based on how they are         
assessed, which is consistent with the classification of other Policy fees and  
industry practice. This change had no effect on the net assets of the           
Investment Divisions or unit values of the Policies.                            

This change has been applied retrospectively to all periods presented. The      
impact by affected Investment Division was to decrease "Mortality and expense   
risk charges" in the Statements of Operations and to increase "Policy charges"  
in the Statements of Changes in Net Assets by the following amounts.            

                                                        [Enlarge/Download Table]

                                                                                                   FOR THE YEARS ENDED       
                                                                                                      DECEMBER 31,           
                                                                                             --------------------------------
FUND NAME                                                                                      2011 ($)           2010 ($)   
                                                                                             -------------     --------------
                                                                                                                             
AllianceBernstein Global Thematic Growth Investment Division................................       162,987                310
AllianceBernstein Intermediate Bond Investment Division.....................................           183                139
AllianceBernstein International Value Investment Division...................................         (111)                  2
American Century VP Vista Investment Division...............................................           305                519
American Funds Bond Investment Division.....................................................        26,971             24,755
American Funds Global Small Capitalization Investment Division..............................       402,822            401,930
American Funds Growth Investment Division...................................................       887,833            821,615
American Funds Growth-Income Investment Division............................................       517,187            489,440
American Funds International Investment Division............................................         9,756              9,546
American Funds U.S. Government/AAA-Rated Securities Investment Division.....................           601                596
Dreyfus VIF International Value Investment Division.........................................           798                876
Fidelity VIP Asset Manager: Growth Investment Division......................................        11,005             11,265
Fidelity VIP Contrafund Investment Division.................................................        10,858             17,497
Fidelity VIP Equity-Income Investment Division..............................................           749                838
Fidelity VIP Freedom 2020 Investment Division...............................................         2,367              2,201
Fidelity VIP Freedom 2030 Investment Division...............................................            86                231
Fidelity VIP High Income Investment Division................................................            27                 30
Fidelity VIP Investment Grade Bond Investment Division......................................         6,449              4,314
Fidelity VIP Mid Cap Investment Division....................................................         5,725              5,209
FTVIPT Mutual Global Discovery Securities Investment Division...............................         3,892              2,866
FTVIPT Templeton Foreign Securities Investment Division.....................................       111,353            239,041
FTVIPT Templeton Global Bond Securities Investment Division.................................         1,067                 89
Goldman Sachs Mid-Cap Value Investment Division.............................................         1,289              1,356
Goldman Sachs Structured Small Cap Equity Investment Division...............................           173                154
Invesco V.I. Global Real Estate Investment Division.........................................        49,508             39,431
Invesco V.I. Government Securities Investment Division......................................           120                 --
Invesco V.I. International Growth Investment Division.......................................         1,400                783
Invesco V.I. Van Kampen Comstock Investment Division........................................           423                 --
Janus Aspen Balanced Investment Division....................................................        25,576             23,474
Janus Aspen Forty Investment Division.......................................................        15,960             16,448
Janus Aspen Janus Investment Division.......................................................        36,978            226,951
Janus Aspen Overseas Investment Division....................................................        29,472                817
MFS VIT Global Equity Investment Division...................................................           361                598
MFS VIT High Income Investment Division.....................................................           491                457
MFS VIT New Discovery Investment Division...................................................           555                340
MFS VIT Value Investment Division...........................................................           285                293
MIST BlackRock Large Cap Core Investment Division...........................................       681,593            702,685
MIST Clarion Global Real Estate Investment Division.........................................       153,514            141,671
MIST Dreman Small Cap Value Investment Division.............................................           255                220
MIST Harris Oakmark International Investment Division.......................................       196,322            188,515
MIST Invesco Small Cap Growth Investment Division...........................................        31,155             26,096
MIST Janus Forty Investment Division........................................................        81,711             82,335

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

5. CHANGE IN ACCOUNTING METHOD -- (CONTINUED)                                   

PRESENTATION OF MORTALITY AND EXPENSE RISK CHARGES -- (CONTINUED)               

                                                        [Enlarge/Download Table]

                                                                                                    FOR THE YEARS ENDED       
                                                                                                       DECEMBER 31,           
                                                                                             ---------------------------------
FUND NAME                                                                                       2011 ($)           2010 ($)   
                                                                                             --------------    ---------------
                                                                                                                              
MIST Legg Mason ClearBridge Aggressive Growth Investment Division...........................         82,685             54,030
MIST Lord Abbett Bond Debenture Investment Division.........................................        152,892            258,188
MIST Lord Abbett Mid Cap Value Investment Division..........................................            437                369
MIST MetLife Aggressive Strategy Investment Division........................................         68,960                 --
MIST MFS Emerging Markets Equity Investment Division........................................            788                 --
MIST MFS Research International Investment Division.........................................         91,183             88,383
MIST MLA Mid Cap Investment Division........................................................         36,387             32,814
MIST Morgan Stanley Mid Cap Growth Investment Division......................................        850,520            582,516
MIST PIMCO Inflation Protected Bond Investment Division.....................................         51,801             48,656
MIST PIMCO Total Return Investment Division.................................................        306,218            301,175
MIST Pioneer Fund Investment Division.......................................................            770                982
MIST RCM Technology Investment Division.....................................................        103,151             91,702
MIST SSgA Growth and Income ETF Investment Division.........................................         25,918             17,885
MIST SSgA Growth ETF Investment Division....................................................         21,198             13,776
MIST T. Rowe Price Large Cap Value Investment Division......................................         24,068            134,790
MIST T. Rowe Price Mid Cap Growth Investment Division.......................................        283,741            124,744
MIST Third Avenue Small Cap Value Investment Division.......................................         10,152             11,741
MSF Baillie Gifford International Stock Investment Division.................................        135,375            142,564
MSF Barclays Capital Aggregate Bond Index Investment Division...............................        867,344            860,534
MSF BlackRock Aggressive Growth Investment Division.........................................        529,383            379,415
MSF BlackRock Bond Income Investment Division...............................................        334,130            347,328
MSF BlackRock Diversified Investment Division...............................................        846,392            751,518
MSF BlackRock Large Cap Value Investment Division...........................................         86,087             77,167
MSF BlackRock Legacy Large Cap Growth Investment Division...................................         53,272             45,881
MSF BlackRock Money Market Investment Division..............................................        114,103            249,908
MSF Davis Venture Value Investment Division.................................................        383,886            389,641
MSF FI Value Leaders Investment Division....................................................         44,051             40,816
MSF Jennison Growth Investment Division.....................................................        102,546            110,567
MSF Loomis Sayles Small Cap Core Investment Division........................................        118,325            110,919
MSF Loomis Sayles Small Cap Growth Investment Division......................................         58,648             46,479
MSF Met/Artisan Mid Cap Value Investment Division...........................................        347,417            317,586
MSF MetLife Conservative Allocation Investment Division.....................................         22,199             16,791
MSF MetLife Conservative to Moderate Allocation Investment Division.........................         40,173             35,091
MSF MetLife Mid Cap Stock Index Investment Division.........................................        448,943            427,389
MSF MetLife Moderate Allocation Investment Division.........................................        236,948            209,528
MSF MetLife Moderate to Aggressive Allocation Investment Division...........................        494,267            420,334
MSF MetLife Stock Index Investment Division.................................................      3,199,191          2,799,860
MSF MFS Total Return Investment Division....................................................        106,396             80,437
MSF MFS Value Investment Division...........................................................        422,424            411,227
MSF MSCI EAFE Index Investment Division.....................................................        515,481            487,987
MSF Neuberger Berman Genesis Investment Division............................................        587,519            559,608
MSF Oppenheimer Global Equity Investment Division...........................................        178,758            173,573
MSF Russell 2000 Index Investment Division..................................................        349,641            341,067
MSF T. Rowe Price Large Cap Growth Investment Division......................................        334,052            354,830
MSF T. Rowe Price Small Cap Growth Investment Division......................................        666,351            511,433
MSF Van Eck Global Natural Resources Investment Division....................................            609                 --
MSF Western Asset Management Strategic Bond Opportunities Investment Division...............        160,797            154,138
MSF Western Asset Management U.S. Government Investment Division............................        113,254            115,268
PIMCO VIT All Asset Investment Division.....................................................             22                 --
PIMCO VIT Low Duration Investment Division..................................................          2,905              2,779
Pioneer VCT Emerging Markets Investment Division............................................         12,310             13,622
Pioneer VCT Mid Cap Value Investment Division...............................................            550                297
Royce Micro-Cap Investment Division.........................................................          1,375                619
Royce Small-Cap Investment Division.........................................................          6,407              1,285

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

5. CHANGE IN ACCOUNTING METHOD -- (CONCLUDED)                                   

PRESENTATION OF MORTALITY AND EXPENSE RISK CHARGES -- (CONCLUDED)               

                                                        [Enlarge/Download Table]

                                                                                                    FOR THE YEARS ENDED       
                                                                                                       DECEMBER 31,           
                                                                                              --------------------------------
FUND NAME                                                                                       2011 ($)           2010 ($)   
                                                                                             --------------     --------------
                                                                                                                              
UIF Emerging Markets Debt Investment Division...............................................          1,372                 31
UIF Emerging Markets Equity Investment Division.............................................          2,182                520
Wells Fargo VT Total Return Bond Investment Division........................................          6,364              6,709

6. EXPENSES AND RELATED PARTY TRANSACTIONS                                      

The following annual Separate Account charge paid to the Company, is an         
asset-based charge and assessed through a daily reduction in unit values, which 
is recorded as an expense in the accompanying statements of operations of the   
applicable Investment Divisions:                                                

Mortality and Expense Risk -- The mortality risk assumed by the Company is
the risk that those insured may die sooner than anticipated and therefore,
the Company will pay an aggregate amount of death benefits greater than   
 anticipated. The expense risk assumed is the risk that expenses incurred in
  issuing and administering the Policies will exceed the amounts realized from
the administrative charges assessed against the Policies.                 

The table below represents the range of effective annual rates for the    
charge for the year ended December 31, 2012:                              

                                                        [Enlarge/Download Table]
                                                                                                               
---------------------------------------------------------------------------------------------------------------
Mortality and Expense Risk                                                                       0.00% - 0.90% 
---------------------------------------------------------------------------------------------------------------


The above referenced charge may not necessarily correspond to the costs   
associated with providing the services or benefits indicated by the       
designation of the charge or associated with a particular policy.         

For some Policies, a mortality and expense risk charge ranging from 0.30% to    
0.90% is assessed through the redemption of units on a monthly basis and        
recorded as policy charges in the statements of changes in net assets of the    
applicable Investment Divisions. Other policy charges that are assessed through 
the redemption of units generally include: Cost of Insurance ("COI") charges,   
administrative charges, a policy fee, and charges for benefits provided by      
rider, if any. The COI charge is the primary charge under the policy for the    
death benefit provided by the Company which may vary by policy based on         
underwriting criteria. Administrative charges range from $0 to $15 and are      
assessed monthly.                                                               

For some Policies, a surrender charge is imposed if the policy is partially or  
fully surrendered within the specified surrender charge period that ranges from 
$3.75 to $38.25 for every $1,000 of the policy face amount. Surrender charges   
for other Policies are equal to the lesser of the maximum surrender charge      
premium or the premiums actually paid in the first two policy years. For these  
policies, in the first policy year, the maximum surrender charge premium is 75% 
of the smoker federal guideline premium for the policy, assuming a level death  
benefit for the policy and any riders; and in the second and later policy       
years, it is 100% of the smoker federal guideline premium for the policy,       
assuming a level death benefit for the policy and any riders. The surrender     
charge cannot exceed 100% of the cumulative premiums paid in the first two      
policy years. If the policy is surrendered in the first two policy years, the   
Company will deduct 100% of the surrender charge, determined as described       
above. After the second policy year, the percentage the Company deducts         
declines until it reaches 0% at the end of the 15th policy year.                

Most policies offer optional benefits that can be added to the policy by rider. 
The charge for riders that provide life insurance benefits can range from $0.01 
to $83.33 per $1,000 of coverage and the charge for riders providing benefits   
in the event of disability can range from $0.00 to $61.44 per $100 of the       
benefit provided.                                                               

The above referenced charges are paid to the Company and are recorded as policy 
charges in the accompanying statements of changes in net assets of the          
applicable Investment Divisions for the years ended December 31, 2012, 2011 and 
2010.                                                                           

MetLife Advisers, LLC, which acts in the capacity of investment adviser to the  
portfolios of the MIST and MSF Trusts, is an affiliate of the Company.          

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
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NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

7. STATEMENTS OF INVESTMENTS                                                    

                                                        [Enlarge/Download Table]

                                     AS OF DECEMBER 31,               FOR THE YEAR ENDED DECEMBER 31,           
                                ------------------------------ -------------------------------------------------
                                                                                  COST OF                       
                                    SHARES         COST ($)                    PURCHASES ($)                    
                                -------------   -------------- -------------------------------------------------
                                     2012            2012           2012            2011            2010        
                                -------------   --------------    --------------  --------------  --------------
                                                                                                                
AllianceBernstein Global                                                                                        
   Thematic Growth                                                                                              
   Investment Division.........         3,767           71,642          3,785       5,924,276          64,878   
AllianceBernstein                                                                                               
   Intermediate Bond                                                                                            
   Investment Division.........         8,488          102,645         57,983           4,944          44,107   
AllianceBernstein                                                                                               
   International Value                                                                                          
   Investment Division.........            12              179              2           1,511           1,284(a)
American Century VP Vista                                                                                       
   Investment Division.........           236            3,853          1,774          16,251          60,206   
American Funds Bond                                                                                             
   Investment Division.........       485,256        5,262,880      1,312,217         969,816       1,139,102   
American Funds Global                                                                                           
   Small Capitalization                                                                                         
   Investment Division.........     2,982,770       60,143,479      3,115,383       3,778,860       4,775,557   
American Funds Growth                                                                                           
   Investment Division.........     2,165,777      110,745,930      3,746,471       5,600,915       6,233,209   
American Funds                                                                                                  
   Growth-Income                                                                                                
   Investment Division.........     2,081,975       71,702,222      2,947,311       3,518,169       4,134,198   
American Funds                                                                                                  
   High-Income Bond                                                                                             
   Investment Division.........         5,189           57,908         58,091(b)           --              --   
American Funds                                                                                                  
   International Investment                                                                                     
   Division....................        31,331          525,723         53,707          16,165         390,086   
American Funds U.S.                                                                                             
   Government/AAA-Rated                                                                                         
   Securities Investment                                                                                        
   Division....................         3,578           44,566          7,935          24,616           8,716   
Dreyfus VIF International                                                                                       
   Value Investment                                                                                             
   Division....................        20,889          264,546          5,777           5,544           7,776   
Fidelity VIP Asset Manager:                                                                                     
   Growth Investment                                                                                            
   Division....................       130,734        1,695,641        564,188         201,611         350,953   
Fidelity VIP Contrafund                                                                                         
   Investment Division.........        88,886        2,080,901        256,811         386,193         618,817   
Fidelity VIP Equity-Income                                                                                      
   Investment Division.........         3,135           63,113         51,762          65,604          83,560   
Fidelity VIP Freedom 2010                                                                                       
   Investment Division.........         3,555           36,402          3,999          16,905          16,287   
Fidelity VIP Freedom 2020                                                                                       
   Investment Division.........        68,218          527,202         38,622          64,043          32,723   
Fidelity VIP Freedom 2030                                                                                       
   Investment Division.........         3,937           36,903          2,517          33,098         106,748   
Fidelity VIP Freedom 2050                                                                                       
   Investment Division.........         1,331           16,206          2,492          44,388(c)           --   


                                       FOR THE YEAR ENDED DECEMBER 31,                                          
                                ------------------------------------------------                                
                                                  PROCEEDS                                                      
                                               FROM SALES ($)                                                   
                                ------------------------------------------------                                
                                     2012           2011            2010                                        
                                 ---------------  --------------  --------------                                
                                                                                                                
AllianceBernstein Global                                                                                        
   Thematic Growth                                                                                              
   Investment Division.........     4,346,961         265,271          84,747                                   
AllianceBernstein                                                                                               
   Intermediate Bond                                                                                            
   Investment Division.........         1,934           1,493          29,920                                   
AllianceBernstein                                                                                               
   International Value                                                                                          
   Investment Division.........             5           2,772              16(a)                                
American Century VP Vista                                                                                       
   Investment Division.........         7,528          74,661         147,832                                   
American Funds Bond                                                                                             
   Investment Division.........       763,603         731,112         647,988                                   
American Funds Global                                                                                           
   Small Capitalization                                                                                         
   Investment Division.........     5,038,503       5,452,768       4,848,239                                   
American Funds Growth                                                                                           
   Investment Division.........    10,752,272       8,870,119       7,482,387                                   
American Funds                                                                                                  
   Growth-Income                                                                                                
   Investment Division.........     5,517,911       3,636,760       3,422,111                                   
American Funds                                                                                                  
   High-Income Bond                                                                                             
   Investment Division.........           189(b)           --              --                                   
American Funds                                                                                                  
   International Investment                                                                                     
   Division....................       107,360         191,972          91,760                                   
American Funds U.S.                                                                                             
   Government/AAA-Rated                                                                                         
   Securities Investment                                                                                        
   Division....................         7,421          18,298          63,369                                   
Dreyfus VIF International                                                                                       
   Value Investment                                                                                             
   Division....................         2,581           6,265          73,348                                   
Fidelity VIP Asset Manager:                                                                                     
   Growth Investment                                                                                            
   Division....................       229,156         542,259         401,055                                   
Fidelity VIP Contrafund                                                                                         
   Investment Division.........       392,517         826,551       2,359,396                                   
Fidelity VIP Equity-Income                                                                                      
   Investment Division.........         7,307         243,406         152,960                                   
Fidelity VIP Freedom 2010                                                                                       
   Investment Division.........         1,313          13,581           1,077                                   
Fidelity VIP Freedom 2020                                                                                       
   Investment Division.........        41,771          79,620          15,399                                   
Fidelity VIP Freedom 2030                                                                                       
   Investment Division.........        23,108          83,225          42,841                                   
Fidelity VIP Freedom 2050                                                                                       
   Investment Division.........           302          25,362(c)           --                                   

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
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NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

7. STATEMENTS OF INVESTMENTS -- (CONTINUED)                                     

                                                        [Enlarge/Download Table]

                               AS OF DECEMBER 31,          FOR THE YEAR ENDED DECEMBER 31,        
                            -------------------------- -------------------------------------------
                                                                       COST OF                    
                               SHARES       COST ($)                PURCHASES ($)                 
                            ------------  ------------ -------------------------------------------
                                2012          2012         2012          2011          2010       
                            ------------  ------------   ----------    -------------  ------------
                                                                                                  
Fidelity VIP High Income                                                                          
   Investment Division.....       28,424       168,038      125,580        40,651           340   
Fidelity VIP Investment                                                                           
   Grade Bond Investment                                                                          
   Division................      176,645     2,309,600    1,921,672     1,807,611     1,216,749   
Fidelity VIP Mid Cap                                                                              
   Investment Division.....       24,981       702,923      173,748       287,684       192,649   
FTVIPT Mutual Global                                                                              
   Discovery Securities                                                                           
   Investment Division.....       39,801       790,298      175,011       279,594       735,899   
FTVIPT Templeton Foreign                                                                          
   Securities Investment                                                                          
   Division................      270,845     3,801,087      878,128       539,313     1,298,784   
FTVIPT Templeton Global                                                                           
   Bond Securities                                                                                
   Investment Division.....       22,105       427,416      146,290       626,974       454,211   
Goldman Sachs Mid-Cap                                                                             
   Value Investment                                                                               
   Division................       16,840       254,903        2,932        58,548         2,264   
Goldman Sachs Structured                                                                          
   Small Cap Equity                                                                               
   Investment Division.....        2,071        22,781        6,983           893         4,341   
Invesco V.I. Global Real                                                                          
   Estate Investment                                                                              
   Division................      169,020     2,480,584    1,031,105     1,144,072       281,030   
Invesco V.I. Government                                                                           
   Securities Investment                                                                          
   Division................           25           309       15,310       105,415(d)     26,124   
Invesco V.I. International                                                                        
   Growth Investment                                                                              
   Division................      216,655     5,820,659    6,090,412        11,463       348,070   
Invesco V.I. Van Kampen                                                                           
   Comstock Investment                                                                            
   Division................       17,951       210,983       29,964       166,971        62,391(e)
Janus Aspen Balanced                                                                              
   Investment Division.....       38,724     1,072,774      249,875       476,479     1,410,141   
Janus Aspen Forty                                                                                 
   Investment Division.....       22,042       724,755      251,563        60,009       374,848   
Janus Aspen Janus                                                                                 
   Investment Division.....       36,736       725,079       34,590        11,493       709,475   
Janus Aspen Overseas                                                                              
   Investment Division.....       11,935       564,816      114,730     5,940,358       246,705   
MFS VIT Global Equity                                                                             
   Investment Division.....        8,975       128,563      135,732        14,292       201,962   
MFS VIT High Income                                                                               
   Investment Division.....       18,452       134,943       29,358        12,069        10,141   
MFS VIT New Discovery                                                                             
   Investment Division.....       11,458       163,711       42,794        24,020       105,171   


                                FOR THE YEAR ENDED DECEMBER 31,                                   
                            ------------------------------------------                            
                                           PROCEEDS                                               
                                        FROM SALES ($)                                            
                            ------------------------------------------                            
                                2012          2011          2010                                  
                              ----------    -------------  -----------                            
                                                                                                  
Fidelity VIP High Income                                                                          
   Investment Division.....        2,451           236       37,262                               
Fidelity VIP Investment                                                                           
   Grade Bond Investment                                                                          
   Division................    1,407,822       593,778      919,692                               
Fidelity VIP Mid Cap                                                                              
   Investment Division.....       67,376        86,070       32,284                               
FTVIPT Mutual Global                                                                              
   Discovery Securities                                                                           
   Investment Division.....      195,072       383,211      728,462                               
FTVIPT Templeton Foreign                                                                          
   Securities Investment                                                                          
   Division................      422,457     6,463,366      553,148                               
FTVIPT Templeton Global                                                                           
   Bond Securities                                                                                
   Investment Division.....       19,865       316,892      458,606                               
Goldman Sachs Mid-Cap                                                                             
   Value Investment                                                                               
   Division................       57,554       130,799       34,533                               
Goldman Sachs Structured                                                                          
   Small Cap Equity                                                                               
   Investment Division.....       35,753         1,806       34,881                               
Invesco V.I. Global Real                                                                          
   Estate Investment                                                                              
   Division................      364,719     1,047,754      349,677                               
Invesco V.I. Government                                                                           
   Securities Investment                                                                          
   Division................       36,465        86,648(d)     9,364                               
Invesco V.I. International                                                                        
   Growth Investment                                                                              
   Division................      311,291       236,029      122,011                               
Invesco V.I. Van Kampen                                                                           
   Comstock Investment                                                                            
   Division................       16,512         2,690       30,405(e)                            
Janus Aspen Balanced                                                                              
   Investment Division.....      555,156     1,530,768      490,563                               
Janus Aspen Forty                                                                                 
   Investment Division.....      231,604       495,862      175,085                               
Janus Aspen Janus                                                                                 
   Investment Division.....       57,167     7,130,795      408,399                               
Janus Aspen Overseas                                                                              
   Investment Division.....       18,736     5,664,163       20,135                               
MFS VIT Global Equity                                                                             
   Investment Division.....       12,826       232,286       73,751                               
MFS VIT High Income                                                                               
   Investment Division.....       12,497         1,866        3,882                               
MFS VIT New Discovery                                                                             
   Investment Division.....        4,661         4,419        4,660                               

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e)  For the period May 3, 2010 to December 31, 2010.                           
(f)  For the period April 30, 2012 to December 31, 2012.                        
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
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NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

7. STATEMENTS OF INVESTMENTS -- (CONTINUED)                                     

                                                        [Enlarge/Download Table]

                              AS OF DECEMBER 31,        FOR THE YEAR ENDED DECEMBER 31,     
                           ------------------------- ---------------------------------------
                                                                    COST OF                 
                             SHARES       COST ($)               PURCHASES ($)              
                           -----------  ------------ ---------------------------------------
                              2012          2012        2012          2011          2010    
                           -----------  ------------   ------------  ---------     ---------
                                                                                            
MFS VIT Value Investment                                                                    
   Division...............       1,207        15,291       1,023        36,464           969
MIST AllianceBernstein                                                                      
   Global Dynamic                                                                           
   Allocation Investment                                                                    
   Division...............         663         6,934       8,989(f)         --            --
MIST American Funds                                                                         
   Balanced Allocation                                                                      
   Investment Division....      60,078       564,961     111,688       225,636       209,126
MIST American Funds                                                                         
   Growth Allocation                                                                        
   Investment Division....      91,780       788,428     211,211       237,080       546,597
MIST American Funds                                                                         
   Moderate Allocation                                                                      
   Investment Division....      55,547       537,412     223,173       184,789       144,861
MIST AQR Global Risk                                                                        
   Balanced Investment                                                                      
   Division...............       2,151        24,410      30,767(f)         --            --
MIST BlackRock Global                                                                       
   Tactical Strategies                                                                      
   Investment Division....       3,761        38,201      40,820(f)         --            --
MIST BlackRock                                                                              
   Large Cap Core                                                                           
   Investment Division....  31,674,442   338,241,649   5,579,948     6,851,461     6,951,054
MIST Clarion Global Real                                                                    
   Estate Investment                                                                        
   Division...............   2,269,161    26,891,735   3,856,513     2,264,531     3,370,800
MIST Dreman Small Cap                                                                       
   Value Investment                                                                         
   Division...............       2,558        34,673      19,336        16,769        10,026
MIST Harris Oakmark                                                                         
   International Investment                                                                 
   Division...............   2,231,255    30,985,772   2,666,808     2,500,638     3,407,788
MIST Invesco Balanced-                                                                      
   Risk Allocation                                                                          
   Investment Division....         716         7,515       9,936(f)         --            --
MIST Invesco Small Cap                                                                      
   Growth Investment                                                                        
   Division...............     295,370     3,916,907     866,163       950,748       797,813
MIST Janus Forty                                                                            
   Investment Division....     199,959    13,554,667   2,118,628     1,510,556     2,738,764
MIST JPMorgan Global                                                                        
   Active Allocation                                                                        
   Investment Division....       1,798        18,731      21,306(f)         --            --
MIST Legg Mason                                                                             
   ClearBridge Aggressive                                                                   
   Growth Investment                                                                        
   Division...............   1,536,327    11,654,136     770,047     5,893,574       471,892


                               FOR THE YEAR ENDED DECEMBER 31,                              
                           --------------------------------------                           
                                          PROCEEDS                                          
                                       FROM SALES ($)                                       
                           --------------------------------------                           
                               2012         2011          2010                              
                            -------------- ---------   ----------                           
                                                                                            
MFS VIT Value Investment                                                                    
   Division...............       33,595       67,428        2,907                           
MIST AllianceBernstein                                                                      
   Global Dynamic                                                                           
   Allocation Investment                                                                    
   Division...............        2,055(f)        --           --                           
MIST American Funds                                                                         
   Balanced Allocation                                                                      
   Investment Division....       50,779      119,833       22,345                           
MIST American Funds                                                                         
   Growth Allocation                                                                        
   Investment Division....      178,743      112,650       60,823                           
MIST American Funds                                                                         
   Moderate Allocation                                                                      
   Investment Division....       72,031       27,959        8,208                           
MIST AQR Global Risk                                                                        
   Balanced Investment                                                                      
   Division...............        6,330(f)        --           --                           
MIST BlackRock Global                                                                       
   Tactical Strategies                                                                      
   Investment Division....        2,670(f)        --           --                           
MIST BlackRock                                                                              
   Large Cap Core                                                                           
   Investment Division....   24,675,854   23,235,479   20,284,505                           
MIST Clarion Global Real                                                                    
   Estate Investment                                                                        
   Division...............    2,040,067    1,937,838    1,679,748                           
MIST Dreman Small Cap                                                                       
   Value Investment                                                                         
   Division...............       21,553        5,385        3,466                           
MIST Harris Oakmark                                                                         
   International Investment                                                                 
   Division...............    3,615,172    2,457,952    2,246,052                           
MIST Invesco Balanced-                                                                      
   Risk Allocation                                                                          
   Investment Division....        2,420(f)        --           --                           
MIST Invesco Small Cap                                                                      
   Growth Investment                                                                        
   Division...............    1,148,655      984,337      592,803                           
MIST Janus Forty                                                                            
   Investment Division....    1,831,257    2,004,491    1,663,638                           
MIST JPMorgan Global                                                                        
   Active Allocation                                                                        
   Investment Division....        2,566(f)        --           --                           
MIST Legg Mason                                                                             
   ClearBridge Aggressive                                                                   
   Growth Investment                                                                        
   Division...............    1,188,432    1,236,188      698,228                           

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
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NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

7. STATEMENTS OF INVESTMENTS -- (CONTINUED)                                     

                                                        [Enlarge/Download Table]

                                AS OF DECEMBER 31,         FOR THE YEAR ENDED DECEMBER 31,     
                            -------------------------- ----------------------------------------
                                                                      COST OF                  
                               SHARES        COST ($)              PURCHASES ($)               
                            ------------  ------------ ----------------------------------------
                                2012           2012       2012           2011          2010    
                            ------------  ------------ -------------- -------------- ----------
                                                                                               
MIST Lord Abbett Bond                                                                          
   Debenture Investment                                                                        
   Division...............     2,123,239    25,322,728   4,029,220      4,202,645     3,982,725
MIST Lord Abbett Mid Cap                                                                       
   Value Investment                                                                            
   Division................    4,262,662    72,390,245  76,386,802         17,623         7,623
MIST Met/Franklin Income                                                                       
   Investment Division.....       31,904       314,897      94,603        104,557        90,123
MIST Met/Franklin Mutual                                                                       
   Shares Investment                                                                           
   Division................       15,476       122,733      47,800         34,651        31,238
MIST Met/Franklin                                                                              
   Templeton Founding                                                                          
   Strategy Investment                                                                         
   Division................       30,513       268,486      42,511         36,620        56,837
MIST Met/Templeton                                                                             
   Growth Investment                                                                           
   Division................        6,801        58,375      17,630         19,150        26,766
MIST Met/Templeton                                                                             
   International Bond                                                                          
   Investment Division....           219         2,557       3,780(f)          --            --
MIST MetLife Aggressive                                                                        
   Strategy Investment                                                                         
   Division (b)............    1,445,108    14,892,050   1,631,765     15,450,469(d)         --
MIST MetLife Balanced                                                                          
   Plus Investment                                                                             
   Division...............         4,293        44,243      50,269(f)          --            --
MIST MFS Emerging                                                                              
   Markets Equity                                                                              
   Investment Division.....        8,058        82,805     153,279         26,770(d)         --
MIST MFS Research                                                                              
   International Investment                                                                    
   Division................    1,522,917    16,398,808   3,674,489      2,576,414     1,608,825
MIST MLA Mid Cap                                                                               
   Investment Division.....      461,310     5,460,602     408,026      1,280,594       595,846
MIST Morgan Stanley Mid                                                                        
   Cap Growth Investment                                                                       
   Division................   15,790,949   160,842,321   4,192,041      9,829,634   181,166,153
MIST PIMCO Inflation                                                                           
   Protected Bond                                                                              
   Investment Division.....    1,155,669    13,063,982   4,918,545      3,303,438     2,469,861
MIST PIMCO Total Return                                                                        
   Investment Division.....    3,925,808    46,212,838   6,325,271      7,403,802     7,076,844
MIST Pioneer Fund                                                                              
   Investment Division.....       13,388       136,688       7,582          7,780         6,857
MIST RCM Technology                                                                            
   Investment Division.....    3,144,984    13,659,135   3,717,366      2,111,961     2,790,890


                                FOR THE YEAR ENDED DECEMBER 31,                                
                            ----------------------------------------                           
                                           PROCEEDS                                            
                                        FROM SALES ($)                                         
                            ----------------------------------------                           
                               2012           2011          2010                               
                             ------------- --------------  ---------                           
                                                                                               
MIST Lord Abbett Bond                                                                          
   Debenture Investment                                                                        
   Division...............    2,630,362      5,865,230     3,898,865                           
MIST Lord Abbett Mid Cap                                                                       
   Value Investment                                                                            
   Division................   4,011,220          3,264        22,956                           
MIST Met/Franklin Income                                                                       
   Investment Division.....       8,795         10,557         4,997                           
MIST Met/Franklin Mutual                                                                       
   Shares Investment                                                                           
   Division................       4,845          5,687         2,657                           
MIST Met/Franklin                                                                              
   Templeton Founding                                                                          
   Strategy Investment                                                                         
   Division................      26,306         12,523        16,387                           
MIST Met/Templeton                                                                             
   Growth Investment                                                                           
   Division................      13,167          9,023         1,499                           
MIST Met/Templeton                                                                             
   International Bond                                                                          
   Investment Division....        1,243(f)          --            --                           
MIST MetLife Aggressive                                                                        
   Strategy Investment                                                                         
   Division (b)............     989,906      1,027,360(d)         --                           
MIST MetLife Balanced                                                                          
   Plus Investment                                                                             
   Division...............        6,146(f)          --            --                           
MIST MFS Emerging                                                                              
   Markets Equity                                                                              
   Investment Division.....      95,164            540(d)         --                           
MIST MFS Research                                                                              
   International Investment                                                                    
   Division................   1,969,844      2,605,812     2,067,653                           
MIST MLA Mid Cap                                                                               
   Investment Division.....     756,033      1,251,786       595,212                           
MIST Morgan Stanley Mid                                                                        
   Cap Growth Investment                                                                       
   Division................  13,094,724     16,285,234     9,832,558                           
MIST PIMCO Inflation                                                                           
   Protected Bond                                                                              
   Investment Division.....   1,739,898      2,028,482     1,583,040                           
MIST PIMCO Total Return                                                                        
   Investment Division.....   5,836,729      5,653,299     3,959,479                           
MIST Pioneer Fund                                                                              
   Investment Division.....       4,551         67,759        31,995                           
MIST RCM Technology                                                                            
   Investment Division.....   3,015,053      3,577,458     3,395,885                           

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

7. STATEMENTS OF INVESTMENTS -- (CONTINUED)                                     

                                                        [Enlarge/Download Table]

                                AS OF DECEMBER 31,         FOR THE YEAR ENDED DECEMBER 31,    
                            -------------------------- ---------------------------------------
                                                                       COST OF                
                               SHARES        COST ($)               PURCHASES ($)             
                            ------------  ------------ ---------------------------------------
                                2012           2012        2012         2011          2010    
                            ------------  ------------  -------------- ---------   -----------
                                                                                              
MIST Schroders Global                                                                         
   Multi-Asset Investment                                                                     
   Division...............           545         5,776        8,021(f)        --            --
MIST SSgA Growth and                                                                          
   Income ETF Investment                                                                      
   Division................      510,566     5,521,373    1,824,928    1,498,489     2,220,868
MIST SSgA Growth ETF                                                                          
   Investment Division.....      364,021     3,776,125    1,113,746    1,923,928       875,750
MIST T. Rowe Price Large                                                                      
   Cap Value Investment                                                                       
   Division................       54,075     1,327,202       76,536       25,689       501,908
MIST T. Rowe Price Mid                                                                        
   Cap Growth Investment                                                                      
   Division................    2,219,463    18,559,725    3,759,855    8,275,848     1,810,217
MIST Third Avenue Small                                                                       
   Cap Value Investment                                                                       
   Division................       55,315       778,082      126,084      595,096       877,330
MSF Baillie Gifford                                                                           
   International Stock                                                                        
   Investment Division.....    4,353,412    48,696,172    2,184,026    3,235,087     2,105,704
MSF Barclays Capital                                                                          
   Aggregate Bond Index                                                                       
   Investment Division.....   10,044,484   109,757,798   18,934,907   11,501,288    22,625,306
MSF BlackRock                                                                                 
   Aggressive Growth                                                                          
   Investment Division.....    6,594,035   153,172,524    2,359,607    8,269,136     2,338,781
MSF BlackRock Bond                                                                            
   Income Investment                                                                          
   Division................      741,788    79,571,999    5,640,825    5,805,876     6,783,042
MSF BlackRock                                                                                 
   Diversified Investment                                                                     
   Division................   15,238,687   244,853,334    8,590,251   10,350,108     8,518,236
MSF BlackRock Large Cap                                                                       
   Value Investment                                                                           
   Division................    1,458,260    15,800,374    3,386,813    1,424,125     1,366,630
MSF BlackRock Legacy                                                                          
   Large Cap Growth                                                                           
   Investment Division.....      492,517    12,119,741    7,158,245    2,393,555       955,624
MSF BlackRock Money                                                                           
   Market Investment                                                                          
   Division................      232,745    23,274,455   13,187,844   11,412,230    39,085,331
MSF Davis Venture Value                                                                       
   Investment Division.....    1,753,067    48,252,225    2,240,132    4,062,485     3,532,125
MSF FI Value Leaders                                                                          
   Investment Division.....       44,814     7,179,192      549,077      923,988       768,915
MSF Jennison Growth                                                                           
   Investment Division.....    1,515,312    16,878,865    5,678,348    1,020,376     1,735,188


                                 FOR THE YEAR ENDED DECEMBER 31,                              
                            ----------------------------------------                          
                                            PROCEEDS                                          
                                         FROM SALES ($)                                       
                            ----------------------------------------                          
                                 2012          2011         2010                              
                              ------------- ----------    ----------                          
                                                                                              
MIST Schroders Global                                                                         
   Multi-Asset Investment                                                                     
   Division...............         2,255(f)         --            --                          
MIST SSgA Growth and                                                                          
   Income ETF Investment                                                                      
   Division................      688,031       604,376       321,444                          
MIST SSgA Growth ETF                                                                          
   Investment Division.....      500,843     1,172,938       269,381                          
MIST T. Rowe Price Large                                                                      
   Cap Value Investment                                                                       
   Division................       17,219     5,307,279       286,976                          
MIST T. Rowe Price Mid                                                                        
   Cap Growth Investment                                                                      
   Division................    7,974,926     2,781,426     2,059,741                          
MIST Third Avenue Small                                                                       
   Cap Value Investment                                                                       
   Division................      192,017     1,211,039       444,016                          
MSF Baillie Gifford                                                                           
   International Stock                                                                        
   Investment Division.....    4,015,643     3,373,752     3,842,700                          
MSF Barclays Capital                                                                          
   Aggregate Bond Index                                                                       
   Investment Division.....   11,439,455    21,342,034    16,711,144                          
MSF BlackRock                                                                                 
   Aggressive Growth                                                                          
   Investment Division.....   16,639,363    17,101,074    16,490,360                          
MSF BlackRock Bond                                                                            
   Income Investment                                                                          
   Division................    7,542,088     8,666,314     7,737,220                          
MSF BlackRock                                                                                 
   Diversified Investment                                                                     
   Division................   21,948,665    21,365,154    21,488,733                          
MSF BlackRock Large Cap                                                                       
   Value Investment                                                                           
   Division................    1,826,005     1,183,780     1,193,468                          
MSF BlackRock Legacy                                                                          
   Large Cap Growth                                                                           
   Investment Division.....    2,120,133     1,606,886       766,286                          
MSF BlackRock Money                                                                           
   Market Investment                                                                          
   Division................   10,707,190    20,447,498    44,495,834                          
MSF Davis Venture Value                                                                       
   Investment Division.....    3,984,624     5,416,410     4,155,257                          
MSF FI Value Leaders                                                                          
   Investment Division.....      728,968       900,032       500,892                          
MSF Jennison Growth                                                                           
   Investment Division.....    1,525,681     2,289,730     1,361,813                          

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

7. STATEMENTS OF INVESTMENTS -- (CONTINUED)                                     

                                                        [Enlarge/Download Table]

                                      AS OF DECEMBER 31,              FOR THE YEAR ENDED DECEMBER 31,       
                                ------------------------------ ---------------------------------------------
                                                                                  COST OF                   
                                    SHARES         COST ($)                    PURCHASES ($)                
                                --------------  -------------- ---------------------------------------------
                                     2012            2012          2012             2011           2010     
                                --------------  --------------  ------------    --------------- ------------
                                                                                                            
MSF Loomis Sayles Small                                                                                     
   Cap Core Investment                                                                                      
   Division....................         75,232      15,377,635     1,244,281       1,401,272         779,792
MSF Loomis Sayles Small                                                                                     
   Cap Growth Investment                                                                                    
   Division....................        727,317       6,743,782       435,159       1,535,720         588,154
MSF Met/Artisan Mid Cap                                                                                     
   Value Investment                                                                                         
   Division....................        252,918      51,480,088     1,652,342       2,136,634       3,730,063
MSF MetLife Conservative                                                                                    
   Allocation Investment                                                                                    
   Division...................         451,331       5,053,916     1,835,676       1,806,198       2,451,236
MSF MetLife Conservative                                                                                    
   to Moderate Allocation                                                                                   
   Investment Division........         715,057       7,782,001     2,243,025       1,953,282       2,108,320
MSF MetLife Mid Cap                                                                                         
   Stock Index Investment                                                                                   
   Division...................       4,824,314      59,075,087     6,434,902       7,118,449       4,558,217
MSF MetLife Moderate                                                                                        
   Allocation Investment                                                                                    
   Division...................       3,789,971      39,789,720     5,656,884       6,621,830       7,290,820
MSF MetLife Moderate to                                                                                     
   Aggressive Allocation                                                                                    
   Investment Division........       6,539,874      68,806,566     7,501,562       8,856,018       9,000,879
MSF MetLife Stock Index                                                                                     
   Investment Division........      22,136,633     667,211,901    41,740,053      42,140,081      47,048,203
MSF MFS Total Return                                                                                        
   Investment Division........          58,054       7,741,000     1,197,544       1,189,902       2,150,016
MSF MFS Value Investment                                                                                    
   Division...................       4,195,031      53,479,318     3,310,186       3,888,301       3,693,963
MSF MSCI EAFE Index                                                                                         
   Investment Division........       5,820,975      63,949,200     7,247,918       9,375,469      10,748,813
MSF Neuberger Berman                                                                                        
   Genesis Investment                                                                                       
   Division...................       6,238,426      89,603,420     1,372,639       2,070,471       2,239,658
MSF Oppenheimer Global                                                                                      
   Equity Investment                                                                                        
   Division...................       2,516,431      32,324,895     1,995,431       4,561,354       3,249,970
MSF Russell 2000 Index                                                                                      
   Investment Division........       3,841,387      45,326,711     2,536,084       4,574,342       4,271,448
MSF T. Rowe Price Large                                                                                     
   Cap Growth Investment                                                                                    
   Division...................       2,795,839      34,493,708     2,729,462       2,728,837       1,214,090
MSF T. Rowe Price Small                                                                                     
   Cap Growth Investment                                                                                    
   Division...................       5,328,638      70,024,797    12,017,765       6,480,374       2,318,086
MSF Van Eck Global                                                                                          
   Natural Resources                                                                                        
   Investment Division.........          4,135          57,891        52,989          15,766(d)           --


                                       FOR THE YEAR ENDED DECEMBER 31,                                      
                                ---------------------------------------------                               
                                                  PROCEEDS                                                  
                                               FROM SALES ($)                                               
                                ---------------------------------------------                               
                                     2012            2011           2010                                    
                                 -------------   ---------------- -----------                               
                                                                                                            
MSF Loomis Sayles Small                                                                                     
   Cap Core Investment                                                                                      
   Division....................      1,870,414       2,332,479      1,332,319                               
MSF Loomis Sayles Small                                                                                     
   Cap Growth Investment                                                                                    
   Division....................      1,390,992       1,011,621        546,779                               
MSF Met/Artisan Mid Cap                                                                                     
   Value Investment                                                                                         
   Division....................      3,672,223       4,226,880      3,981,454                               
MSF MetLife Conservative                                                                                    
   Allocation Investment                                                                                    
   Division...................       1,004,176       1,511,348        768,583                               
MSF MetLife Conservative                                                                                    
   to Moderate Allocation                                                                                   
   Investment Division........         731,687       2,239,776        898,546                               
MSF MetLife Mid Cap                                                                                         
   Stock Index Investment                                                                                   
   Division...................       6,851,251       5,790,251      5,525,712                               
MSF MetLife Moderate                                                                                        
   Allocation Investment                                                                                    
   Division...................       4,063,798       3,119,932      2,263,141                               
MSF MetLife Moderate to                                                                                     
   Aggressive Allocation                                                                                    
   Investment Division........       5,594,631       4,089,610      3,399,802                               
MSF MetLife Stock Index                                                                                     
   Investment Division........      56,539,432      42,862,666     49,869,268                               
MSF MFS Total Return                                                                                        
   Investment Division........       1,043,992       1,494,750      2,044,235                               
MSF MFS Value Investment                                                                                    
   Division...................       4,486,581       5,180,543      3,946,394                               
MSF MSCI EAFE Index                                                                                         
   Investment Division........       7,865,571       5,508,673      7,741,327                               
MSF Neuberger Berman                                                                                        
   Genesis Investment                                                                                       
   Division...................       5,678,800       5,494,730      4,796,586                               
MSF Oppenheimer Global                                                                                      
   Equity Investment                                                                                        
   Division...................       4,751,183       6,449,346      3,980,518                               
MSF Russell 2000 Index                                                                                      
   Investment Division........       5,292,336       7,433,659      6,680,460                               
MSF T. Rowe Price Large                                                                                     
   Cap Growth Investment                                                                                    
   Division...................       3,564,278       5,712,444      4,584,444                               
MSF T. Rowe Price Small                                                                                     
   Cap Growth Investment                                                                                    
   Division...................      10,094,477       9,130,453      6,301,609                               
MSF Van Eck Global                                                                                          
   Natural Resources                                                                                        
   Investment Division.........          9,747             344(d)          --                               

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

7. STATEMENTS OF INVESTMENTS -- (CONCLUDED)                                     

                                                        [Enlarge/Download Table]

                              AS OF DECEMBER 31,         FOR THE YEAR ENDED DECEMBER 31,       
                           ------------------------- ----------------------------------------- 
                                                                     COST OF                   
                             SHARES       COST ($)                PURCHASES ($)                
                           -----------  ------------ ----------------------------------------- 
                              2012          2012         2012          2011         2010       
                           -----------  ------------   ------------- ------------- ----------- 
                                                                                               
MSF Western Asset                                                                              
   Management Strategic                                                                        
   Bond Opportunities                                                                          
   Investment Division...    1,820,890    22,287,439    2,398,460     2,218,805   3,765,318    
MSF Western Asset                                                                              
   Management U.S.                                                                             
   Government Investment                                                                       
   Division..............    1,344,866    16,268,874    1,529,728     1,868,479   1,730,763    
PIMCO VIT All Asset                                                                            
   Investment Division...       11,592       124,263       31,250        97,359(d)       --    
PIMCO VIT Long-Term                                                                            
   U.S. Government                                                                             
   Investment Division...        2,437        33,002       33,105(g)         --          --    
PIMCO VIT Low Duration                                                                         
   Investment Division...       91,532       933,182       47,764       210,299      14,655    
Pioneer VCT Emerging                                                                           
   Markets Investment                                                                          
   Division..............       26,343       640,834      511,183       461,977     292,305    
Pioneer VCT Mid Cap                                                                            
   Value Investment                                                                            
   Division..............        8,814       136,154       13,669        52,297      68,084    
Royce Micro-Cap                                                                                
   Investment Division...       33,973       346,507       56,398        22,196      291,230(a)
Royce Small-Cap                                                                                
   Investment Division...       49,127       505,731      194,261     1,012,962     433,307    
UIF Emerging Markets                                                                           
   Debt Investment                                                                             
   Division..............      124,223     1,092,320      734,902       432,895       3,126    
UIF Emerging Markets                                                                           
   Equity Investment                                                                           
   Division..............       68,792       954,379      423,867       657,354     160,270    
Wells Fargo VT Total                                                                           
   Return Bond Investment                                                                      
   Division..............       45,232       480,809      435,287       134,983     920,218    


                               FOR THE YEAR ENDED DECEMBER 31,                                 
                           ------------------------------------------                          
                                          PROCEEDS                                             
                                       FROM SALES ($)                                          
                           ------------------------------------------                          
                               2012         2011          2010                                 
                             ------------  ---------    -------------                          
                                                                                               
MSF Western Asset                                                                              
   Management Strategic                                                                        
   Bond Opportunities                                                                          
   Investment Division...    2,267,683     2,678,776     1,826,322                             
MSF Western Asset                                                                              
   Management U.S.                                                                             
   Government Investment                                                                       
   Division..............    1,548,704     2,143,284     1,893,816                             
PIMCO VIT All Asset                                                                            
   Investment Division...        4,536            --            --                             
PIMCO VIT Long-Term                                                                            
   U.S. Government                                                                             
   Investment Division...          101(g)         --            --                             
PIMCO VIT Low Duration                                                                         
   Investment Division...       43,068        21,217        10,848                             
Pioneer VCT Emerging                                                                           
   Markets Investment                                                                          
   Division..............      259,048       837,851       225,049                             
Pioneer VCT Mid Cap                                                                            
   Value Investment                                                                            
   Division..............        7,978         6,022         4,348                             
Royce Micro-Cap                                                                                
   Investment Division...       11,535         9,860         4,681(a)                          
Royce Small-Cap                                                                                
   Investment Division...      463,815       605,050       163,799                             
UIF Emerging Markets                                                                           
   Debt Investment                                                                             
   Division..............       65,546        19,721         1,934                             
UIF Emerging Markets                                                                           
   Equity Investment                                                                           
   Division..............       68,649       220,179         8,134                             
Wells Fargo VT Total                                                                           
   Return Bond Investment                                                                      
   Division..............       88,422     1,089,695       371,858                             

(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

8. SCHEDULES OF UNITS                                                           
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010:                     

                                                        [Enlarge/Download Table]

                              ALLIANCEBERNSTEIN GLOBAL THEMATIC GROWTH             ALLIANCEBERNSTEIN INTERMEDIATE BOND        
                                         INVESTMENT DIVISION                               INVESTMENT DIVISION                
                          ------------------------------------------------- --------------------------------------------------
                               2012              2011             2010            2012             2011             2010      
                          ---------------  ---------------  --------------- ----------------  ---------------  ---------------

                                                                                                                              
Units beginning of year..         914,212           19,486           25,043            3,232            3,146            2,242
Units issued and                                                                                                              
   transferred from                                                                                                           
   other funding options.             797          943,623            5,471            3,563              191            3,226
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......       (903,379)         (48,897)         (11,028)            (120)            (105)          (2,322)
                          ---------------  ---------------  --------------- ----------------  ---------------  ---------------
Units end of year........          11,630          914,212           19,486            6,675            3,232            3,146
                          ===============  ===============  =============== ================  ===============  ===============


                                ALLIANCEBERNSTEIN INTERNATIONAL VALUE                   AMERICAN CENTURY VP VISTA             
                                         INVESTMENT DIVISION                               INVESTMENT DIVISION                
                          ------------------------------------------------- --------------------------------------------------
                               2012             2011            2010 (a)          2012             2011             2010      
                          ---------------  ---------------  --------------- ---------------  ----------------  ---------------

                                                                                                                              
Units beginning of year..               9               73               --             679             5,360           13,115
Units issued and                                                                                                              
   transferred from                                                                                                           
   other funding options.              --                6               73              63               753            2,722
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......              --             (70)               --           (463)           (5,434)         (10,477)
                          ---------------  ---------------  --------------- ---------------  ----------------  ---------------
Units end of year........               9                9               73             279               679            5,360
                          ===============  ===============  =============== ===============  ================  ===============

                                                        [Enlarge/Download Table]

                                         AMERICAN FUNDS BOND                    AMERICAN FUNDS GLOBAL SMALL CAPITALIZATION     
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          -------------------------------------------------- --------------------------------------------------
                                2012             2011              2010            2012             2011              2010     
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------

                                                                                                                               
Units beginning of year..          367,699          361,073          335,183        2,037,588        2,114,920        2,152,577
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.          131,998          111,528          767,492          343,427          395,698        2,898,451
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......        (101,751)        (104,902)        (741,602)        (433,428)        (473,030)      (2,936,108)
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------
Units end of year........          397,946          367,699          361,073        1,947,587        2,037,588        2,114,920
                          ================ ================  =============== ================  ===============  ===============


                                        AMERICAN FUNDS GROWTH                          AMERICAN FUNDS GROWTH-INCOME            
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          -------------------------------------------------- --------------------------------------------------
                                2012             2011              2010            2012             2011              2010     
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------

                                                                                                                               
Units beginning of year..        1,353,057        1,411,108        1,419,237        1,453,945        1,483,095        1,491,242
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.          191,289          236,308        1,491,854          212,605          249,184        1,511,750
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......        (274,936)        (294,359)      (1,499,983)        (284,434)        (278,334)      (1,519,897)
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------
Units end of year........        1,269,410        1,353,057        1,411,108        1,382,116        1,453,945        1,483,095
                          ================ ================  =============== ================  ===============  ===============

                                                        [Enlarge/Download Table]

                            AMERICAN FUNDS                                                                                 
                           HIGH-INCOME BOND             AMERICAN FUNDS INTERNATIONAL                                       
                          INVESTMENT DIVISION                INVESTMENT DIVISION                                           
                          ------------------- -------------------------------------------------                            
                               2012 (b)             2012             2011             2010                                 
                          ------------------- ---------------  ---------------  ---------------                            

                                                                                                                           
Units beginning of year..               --             21,039           27,930           17,214                            
Units issued and                                                                                                           
   transferred from                                                                                                        
   other funding options.            4,621              1,746              306           13,635                            
Units redeemed and                                                                                                         
   transferred to other                                                                                                    
   funding options.......             (15)            (4,012)          (7,197)          (2,919)                            
                          ------------------- ---------------  ---------------  ---------------                            
Units end of year........            4,606             18,773           21,039           27,930                            
                          =================== ===============  ===============  ===============                            


                                  AMERICAN FUNDS U.S. GOVERNMENT/                                                          
                                       AAA-RATED SECURITIES                         DREYFUS VIF INTERNATIONAL VALUE        
                                        INVESTMENT DIVISION                               INVESTMENT DIVISION              
                          ------------------------------------------------- -----------------------------------------------
                               2012             2011             2010            2012             2011            2010     
                          ---------------  ---------------  --------------- --------------- ---------------- --------------

                                                                                                                           
Units beginning of year..           2,025            1,810            4,564          16,153           16,502         21,676
Units issued and                                                                                                           
   transferred from                                                                                                        
   other funding options.             292            1,074              398              77               99            505
Units redeemed and                                                                                                         
   transferred to other                                                                                                    
   funding options.......           (345)            (859)          (3,152)           (217)            (448)        (5,679)
                          ---------------  ---------------  --------------- --------------- ---------------- --------------
Units end of year........           1,972            2,025            1,810          16,013           16,153         16,502
                          ===============  ===============  =============== =============== ================ ==============


(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

8. SCHEDULES OF UNITS -- (CONTINUED)                                            
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010:                     

                                                        [Enlarge/Download Table]

                                 FIDELITY VIP ASSET MANAGER: GROWTH                      FIDELITY VIP CONTRAFUND              
                                         INVESTMENT DIVISION                               INVESTMENT DIVISION                
                          ------------------------------------------------- --------------------------------------------------
                               2012             2011              2010            2012             2011             2010      
                          ---------------  ---------------  --------------- ---------------- ----------------  ---------------

                                                                                                                              
Units beginning of year..         138,116          172,460          181,097          157,450          190,755          332,757
Units issued and                                                                                                              
   transferred from                                                                                                           
   other funding options.          47,327           17,093           24,042           16,403           22,512           43,442
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......        (20,847)         (51,437)         (32,679)         (26,439)         (55,817)        (185,444)
                          ---------------  ---------------  --------------- ---------------- ----------------  ---------------
Units end of year........         164,596          138,116          172,460          147,414          157,450          190,755
                          ===============  ===============  =============== ================ ================  ===============


                                    FIDELITY VIP EQUITY-INCOME                          FIDELITY VIP FREEDOM 2010             
                                        INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          ------------------------------------------------- --------------------------------------------------
                               2012             2011              2010            2012             2011             2010      
                          ---------------  ---------------  --------------- ---------------  ---------------  ----------------

                                                                                                                              
Units beginning of year..           1,549           17,040           23,778           3,238            3,002             1,541
Units issued and                                                                                                              
   transferred from                                                                                                           
   other funding options.           3,462            2,435            4,102             200              246             1,471
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......           (580)         (17,926)         (10,840)            (60)             (10)              (10)
                          ---------------  ---------------  --------------- ---------------  ---------------  ----------------
Units end of year........           4,431            1,549           17,040           3,378            3,238             3,002
                          ===============  ===============  =============== ===============  ===============  ================

                                                        [Enlarge/Download Table]

                                      FIDELITY VIP FREEDOM 2020                         FIDELITY VIP FREEDOM 2030             
                                         INVESTMENT DIVISION                               INVESTMENT DIVISION                
                          ------------------------------------------------- --------------------------------------------------
                               2012              2011             2010            2012             2011             2010      
                          ---------------  ---------------  --------------- ----------------  ---------------  ---------------

                                                                                                                              
Units beginning of year..          53,514           56,297           56,341            6,028            9,011            3,665
Units issued and                                                                                                              
   transferred from                                                                                                           
   other funding options.             968              121              829               83            2,929            9,042
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......         (3,203)          (2,904)            (873)          (2,172)          (5,912)          (3,696)
                          ---------------  ---------------  --------------- ----------------  ---------------  ---------------
Units end of year........          51,279           53,514           56,297            3,939            6,028            9,011
                          ===============  ===============  =============== ================  ===============  ===============


                              FIDELITY VIP FREEDOM 2050                FIDELITY VIP HIGH INCOME                               
                                 INVESTMENT DIVISION                      INVESTMENT DIVISION                                 
                          -------------------------------- -------------------------------------------------                  
                               2012            2011 (c)          2012             2011            2010                        
                          ---------------  --------------- ---------------  ---------------- ---------------                  

                                                                                                                              
Units beginning of year..           1,492               --           2,677               294           3,001                  
Units issued and                                                                                                              
   transferred from                                                                                                           
   other funding options.              --            1,494           6,418             2,406              --                  
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......            (24)              (2)           (140)              (23)         (2,707)                  
                          ---------------  --------------- ---------------  ---------------- ---------------                  
Units end of year........           1,468            1,492           8,955             2,677             294                  
                          ===============  =============== ===============  ================ ===============                  

                                                        [Enlarge/Download Table]

                               FIDELITY VIP INVESTMENT GRADE BOND                       FIDELITY VIP MID CAP               
                                       INVESTMENT DIVISION                               INVESTMENT DIVISION               
                         ------------------------------------------------ -------------------------------------------------
                               2012            2011             2010            2012             2011            2010      
                         ---------------  ---------------  -------------- ---------------  ---------------  ---------------

                                                                                                                           
Units beginning of year.         117,053           38,436          18,087          24,942           16,733           10,051
Units issued and                                                                                                           
   transferred from                                                                                                        
   other funding options         117,701          120,433          87,556           4,204           12,194            7,750
Units redeemed and                                                                                                         
   transferred to other                                                                                                    
   funding options......        (90,025)         (41,816)        (67,207)         (2,589)          (3,985)          (1,068)
                         ---------------  ---------------  -------------- ---------------  ---------------  ---------------
Units end of year.......         144,729          117,053          38,436          26,557           24,942           16,733
                         ===============  ===============  ============== ===============  ===============  ===============


                             FTVIPT MUTUAL GLOBAL DISCOVERY SECURITIES           FTVIPT TEMPLETON FOREIGN SECURITIES       
                                        INVESTMENT DIVISION                              INVESTMENT DIVISION               
                         ------------------------------------------------- ------------------------------------------------
                               2012             2011            2010            2012             2011             2010     
                          --------------  ---------------  --------------- --------------- ---------------  ---------------

                                                                                                                           
Units beginning of year.          44,626           53,444           54,588         203,775         558,309          520,792
Units issued and                                                                                                           
   transferred from                                                                                                        
   other funding options           6,077            9,519           32,229          49,290          26,853           75,062
Units redeemed and                                                                                                         
   transferred to other                                                                                                    
   funding options......        (10,364)         (18,337)         (33,373)        (27,753)       (381,387)         (37,545)
                          --------------  ---------------  --------------- --------------- ---------------  ---------------
Units end of year.......          40,339           44,626           53,444         225,312         203,775          558,309
                          ==============  ===============  =============== =============== ===============  ===============


(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

8. SCHEDULES OF UNITS -- (CONTINUED)                                            
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010:                     

                                                        [Enlarge/Download Table]

                               FTVIPT TEMPLETON GLOBAL BOND SECURITIES                 GOLDMAN SACHS MID-CAP VALUE           
                                         INVESTMENT DIVISION                               INVESTMENT DIVISION               
                          ------------------------------------------------- -------------------------------------------------
                                2012             2011             2010            2012             2011             2010     
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------

                                                                                                                             
Units beginning of year..          14,004              179              204          19,234           24,643           27,552
Units issued and                                                                                                             
   transferred from                                                                                                          
   other funding options.           5,493           25,202           11,325              --               --                1
Units redeemed and                                                                                                           
   transferred to other                                                                                                      
   funding options.......           (941)         (11,377)         (11,350)         (3,609)          (5,409)          (2,910)
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------
Units end of year........          18,556           14,004              179          15,625           19,234           24,643
                          ===============  ===============  =============== ===============  ===============  ===============


                              GOLDMAN SACHS STRUCTURED SMALL CAP EQUITY             INVESCO V.I. GLOBAL REAL ESTATE          
                                         INVESTMENT DIVISION                              INVESTMENT DIVISION                
                          ------------------------------------------------- -------------------------------------------------
                                2012            2011             2010            2012             2011             2010      
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------

                                                                                                                             
Units beginning of year..           4,148            4,258            7,623          54,002           54,093           59,960
Units issued and                                                                                                             
   transferred from                                                                                                          
   other funding options.             435               38              436          31,822           34,742            6,829
Units redeemed and                                                                                                           
   transferred to other                                                                                                      
   funding options.......         (2,658)            (148)          (3,801)        (11,890)         (34,833)         (12,696)
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------
Units end of year........           1,925            4,148            4,258          73,934           54,002           54,093
                          ===============  ===============  =============== ===============  ===============  ===============

                                                        [Enlarge/Download Table]

                                   INVESCO V.I.                                                                            
                               GOVERNMENT SECURITIES             INVESCO V.I. INTERNATIONAL GROWTH                         
                                INVESTMENT DIVISION                     INVESTMENT DIVISION                                
                         -------------------------------- -------------------------------------------------                
                               2012           2011 (d)         2012             2011             2010                      
                         ---------------  --------------- ---------------  ---------------  ---------------                

                                                                                                                           
Units beginning of year.           1,570               --           1,308           14,201            1,080                
Units issued and                                                                                                           
   transferred from                                                                                                        
   other funding options           1,091            8,213         329,534              320           20,685                
Units redeemed and                                                                                                         
   transferred to other                                                                                                    
   funding options......         (2,639)          (6,643)        (16,045)         (13,213)          (7,564)                
                         ---------------  --------------- ---------------  ---------------  ---------------                
Units end of year.......              22            1,570         314,797            1,308           14,201                
                         ===============  =============== ===============  ===============  ===============                



                                INVESCO V.I. VAN KAMPEN COMSTOCK                        JANUS ASPEN BALANCED               
                                       INVESTMENT DIVISION                               INVESTMENT DIVISION               
                         ------------------------------------------------ -------------------------------------------------
                              2012             2011           2010 (e)          2012             2011            2010      
                         ---------------  --------------  --------------- ---------------  ---------------  ---------------

                                                                                                                           
Units beginning of year.          17,951           2,966               --          81,522          155,834           99,381
Units issued and                                                                                                           
   transferred from                                                                                                        
   other funding options           2,259          15,242            2,966           9,247            8,172           79,900
Units redeemed and                                                                                                         
   transferred to other                                                                                                    
   funding options......         (1,363)           (257)               --        (31,704)         (82,484)         (23,447)
                         ---------------  --------------  --------------- ---------------  ---------------  ---------------
Units end of year.......          18,847          17,951            2,966          59,065           81,522          155,834
                         ===============  ==============  =============== ===============  ===============  ===============

                                                        [Enlarge/Download Table]

                                          JANUS ASPEN FORTY                                 JANUS ASPEN JANUS                
                                         INVESTMENT DIVISION                               INVESTMENT DIVISION               
                          ------------------------------------------------- -------------------------------------------------
                                2012             2011             2010            2012             2011             2010     
                          ---------------- ---------------  --------------- ---------------- ---------------  ---------------

                                                                                                                             
Units beginning of year..           45,616          73,218           61,130           85,791         741,523          718,894
Units issued and                                                                                                             
   transferred from                                                                                                          
   other funding options.           13,757           4,044           22,591            1,271             640           65,451
Units redeemed and                                                                                                           
   transferred to other                                                                                                      
   funding options.......         (12,868)        (31,646)         (10,503)          (5,141)       (656,372)         (42,822)
                          ---------------- ---------------  --------------- ---------------- ---------------  ---------------
Units end of year........           46,505          45,616           73,218           81,921          85,791          741,523
                          ================ ===============  =============== ================ ===============  ===============


                                        JANUS ASPEN OVERSEAS                              MFS VIT GLOBAL EQUITY              
                                         INVESTMENT DIVISION                               INVESTMENT DIVISION               
                          ------------------------------------------------- -------------------------------------------------
                                2012             2011             2010            2012             2011             2010     
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------

                                                                                                                             
Units beginning of year..          15,536           11,481            3,135             356           14,222            5,543
Units issued and                                                                                                             
   transferred from                                                                                                          
   other funding options.           3,116          181,594            9,125           7,683              851           11,271
Units redeemed and                                                                                                           
   transferred to other                                                                                                      
   funding options.......         (1,025)        (177,539)            (779)           (806)         (14,717)          (2,592)
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------
Units end of year........          17,627           15,536           11,481           7,233              356           14,222
                          ===============  ===============  =============== ===============  ===============  ===============


(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

8. SCHEDULES OF UNITS -- (CONTINUED)                                            
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010:                     

                                                        [Enlarge/Download Table]


                                         MFS VIT HIGH INCOME                              MFS VIT NEW DISCOVERY               
                                         INVESTMENT DIVISION                               INVESTMENT DIVISION                
                          ------------------------------------------------- --------------------------------------------------
                               2012              2011             2010            2012             2011             2010      
                          ---------------  ---------------  --------------- ----------------  ---------------  ---------------

                                                                                                                              
Units beginning of year..           8,896            9,020            9,209            7,919            7,814              396
Units issued and                                                                                                              
   transferred from                                                                                                           
   other funding options.           1,126                1              106            1,553              359            7,766
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......           (757)            (125)            (295)            (268)            (254)            (348)
                          ---------------  ---------------  --------------- ----------------  ---------------  ---------------
Units end of year........           9,265            8,896            9,020            9,204            7,919            7,814
                          ===============  ===============  =============== ================  ===============  ===============


                                                                                   MIST                                       
                                                                             ALLIANCEBERNSTEIN                                
                                                                              GLOBAL DYNAMIC                                  
                                            MFS VIT VALUE                       ALLOCATION                                    
                                         INVESTMENT DIVISION                INVESTMENT DIVISION                               
                          ------------------------------------------------- -------------------                               
                               2012              2011             2010           2012 (f)                                     
                          ---------------  ---------------  --------------- -------------------                               

                                                                                                                              
Units beginning of year..           3,138            5,577            5,803                --                                 
Units issued and                                                                                                              
   transferred from                                                                                                           
   other funding options.              --               --               --               852                                 
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......         (2,089)          (2,439)            (226)             (196)                                 
                          ---------------  ---------------  --------------- -------------------                               
Units end of year........           1,049            3,138            5,577               656                                 
                          ===============  ===============  =============== ===================                               

                                                        [Enlarge/Download Table]


                              MIST AMERICAN FUNDS BALANCED ALLOCATION            MIST AMERICAN FUNDS GROWTH ALLOCATION       
                                        INVESTMENT DIVISION                               INVESTMENT DIVISION                
                          ------------------------------------------------- -------------------------------------------------
                               2012             2011             2010            2012             2011             2010      
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------

                                                                                                                             
Units beginning of year..          50,766           41,296           23,102          82,817           71,574           15,564
Units issued and                                                                                                             
   transferred from                                                                                                          
   other funding options.           8,491           21,131           70,685          19,200           22,942           90,305
Units redeemed and                                                                                                           
   transferred to other                                                                                                      
   funding options.......         (4,666)         (11,661)         (52,491)        (17,699)         (11,699)         (34,295)
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------
Units end of year........          54,591           50,766           41,296          84,318           82,817           71,574
                          ===============  ===============  =============== ===============  ===============  ===============


                                                                              MIST AQR GLOBAL                                
                              MIST AMERICAN FUNDS MODERATE ALLOCATION          RISK BALANCED                                 
                                        INVESTMENT DIVISION                 INVESTMENT DIVISION                              
                          ------------------------------------------------- -------------------                              
                               2012             2011             2010            2012 (f)                                    
                          ---------------  ---------------  --------------- -------------------                              

                                                                                                                             
Units beginning of year..          37,706           23,584            9,961                --                                
Units issued and                                                                                                             
   transferred from                                                                                                          
   other funding options.          18,239           16,729           29,424             2,974                                
Units redeemed and                                                                                                           
   transferred to other                                                                                                      
   funding options.......         (6,361)          (2,607)         (15,801)             (616)                                
                          ---------------  ---------------  --------------- -------------------                              
Units end of year........          49,584           37,706           23,584             2,358                                
                          ===============  ===============  =============== ===================                              

                                                        [Enlarge/Download Table]

                            MIST BLACKROCK                                                                                    
                            GLOBAL TACTICAL                                                                                   
                              STRATEGIES                MIST BLACKROCK LARGE CAP CORE                                         
                          INVESTMENT DIVISION                INVESTMENT DIVISION                                              
                          ------------------- --------------------------------------------------                              
                               2012 (f)             2012             2011             2010                                    
                          ------------------- ---------------  ---------------  ----------------                              

                                                                                                                              
Units beginning of year..                --        12,762,727       13,468,383        14,107,746                              
Units issued and                                                                                                              
   transferred from other                                                                                                     
   funding options.......             3,964         1,483,936        1,797,760         9,046,176                              
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......             (257)       (2,333,325)      (2,503,416)       (9,685,539)                              
                          ------------------- ---------------  ---------------  ----------------                              
Units end of year........             3,707        11,913,338       12,762,727        13,468,383                              
                          =================== ===============  ===============  ================                              



                                   MIST CLARION GLOBAL REAL ESTATE                      MIST DREMAN SMALL CAP VALUE           
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION               
                          -------------------------------------------------- -------------------------------------------------
                                2012             2011             2010            2012              2011             2010     
                          ---------------- ----------------  --------------- ---------------  ---------------  ---------------

                                                                                                                              
Units beginning of year..        1,311,823        1,342,988        1,332,507           2,480            1,705            1,271
Units issued and                                                                                                              
   transferred from other                                                                                                     
   funding options.......          371,416          277,732        1,901,957           1,210            1,121            1,222
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......        (294,820)        (308,897)      (1,891,476)         (1,390)            (346)            (788)
                          ---------------- ----------------  --------------- ---------------  ---------------  ---------------
Units end of year........        1,388,419        1,311,823        1,342,988           2,300            2,480            1,705
                          ================ ================  =============== ===============  ===============  ===============


(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

8. SCHEDULES OF UNITS -- (CONTINUED)                                            
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010:                     

                                                        [Enlarge/Download Table]

                                                                                MIST INVESCO                                   
                                                                                BALANCED-RISK                                  
                                  MIST HARRIS OAKMARK INTERNATIONAL              ALLOCATION                                    
                                         INVESTMENT DIVISION                 INVESTMENT DIVISION                               
                          -------------------------------------------------- -------------------                               
                                2012             2011             2010            2012 (f)                                     
                          ---------------  ----------------  --------------- -------------------                               

                                                                                                                               
Units beginning of year..       1,483,192         1,473,309        1,439,875               --                                  
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.         301,420           324,563        1,994,881            9,427                                  
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......       (362,647)         (314,680)      (1,961,447)          (2,327)                                  
                          ---------------  ----------------  --------------- -------------------                               
Units end of year........       1,421,965         1,483,192        1,473,309            7,100                                  
                          ===============  ================  =============== ===================                               



                                    MIST INVESCO SMALL CAP GROWTH                            MIST JANUS FORTY                  
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          -------------------------------------------------- --------------------------------------------------
                                2012             2011             2010            2012              2011             2010      
                          ---------------  ---------------  ---------------- ---------------  ---------------  ----------------

                                                                                                                               
Units beginning of year..         279,254          280,254           268,049       1,093,634        1,185,626         1,122,196
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.          58,241           85,976           345,354         286,818          250,215         2,258,407
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......        (91,762)         (86,976)         (333,149)       (294,792)        (342,207)       (2,194,977)
                          ---------------  ---------------  ---------------- ---------------  ---------------  ----------------
Units end of year........         245,733          279,254           280,254       1,085,660        1,093,634         1,185,626
                          ===============  ===============  ================ ===============  ===============  ================

                                                        [Enlarge/Download Table]

                             MIST JPMORGAN                                                                                     
                             GLOBAL ACTIVE               MIST LEGG MASON CLEARBRIDGE                                           
                              ALLOCATION                      AGGRESSIVE GROWTH                                                
                          INVESTMENT DIVISION                INVESTMENT DIVISION                                               
                          ------------------- --------------------------------------------------                               
                               2012 (f)             2012             2011             2010                                     
                          ------------------- ---------------  ----------------  ---------------                               

                                                                                                                               
Units beginning of year..               --          1,353,551           888,257          918,435                               
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.           20,291            230,917           760,794          862,843                               
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......          (2,480)          (270,726)         (295,500)        (893,021)                               
                          ------------------- ---------------  ----------------  ---------------                               
Units end of year........           17,811          1,313,742         1,353,551          888,257                               
                          =================== ===============  ================  ===============                               



                                   MIST LORD ABBETT BOND DEBENTURE                    MIST LORD ABBETT MID CAP VALUE           
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          -------------------------------------------------- --------------------------------------------------
                                2012             2011             2010             2012             2011             2010      
                          ----------------  ---------------  --------------- ---------------  ---------------  ----------------

                                                                                                                               
Units beginning of year..        1,085,311        1,222,207        1,300,112           9,000            7,974             9,319
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.          167,197          200,137          833,058       3,301,144            1,279               620
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......        (189,305)        (337,033)        (910,963)       (436,992)            (253)           (1,965)
                          ----------------  ---------------  --------------- ---------------  ---------------  ----------------
Units end of year........        1,063,203        1,085,311        1,222,207       2,873,152            9,000             7,974
                          ================  ===============  =============== ===============  ===============  ================

                                                        [Enlarge/Download Table]

                                      MIST MET/FRANKLIN INCOME                       MIST MET/FRANKLIN MUTUAL SHARES          
                                         INVESTMENT DIVISION                               INVESTMENT DIVISION                
                          ------------------------------------------------- --------------------------------------------------
                               2012             2011              2010            2012             2011             2010      
                          ---------------  ---------------  --------------- ---------------  ----------------  ---------------

                                                                                                                              
Units beginning of year..          19,993           13,040            5,364           8,617             6,134            2,904
Units issued and                                                                                                              
   transferred from other                                                                                                     
   funding options.......           6,087            7,842           13,379           3,067             3,078            6,436
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......           (689)            (889)          (5,703)           (491)             (595)          (3,206)
                          ---------------  ---------------  --------------- ---------------  ----------------  ---------------
Units end of year........          25,391           19,993           13,040          11,193             8,617            6,134
                          ===============  ===============  =============== ===============  ================  ===============


                           MIST MET/FRANKLIN TEMPLETON FOUNDING STRATEGY                MIST MET/TEMPLETON GROWTH             
                                        INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          ------------------------------------------------- ------------------------------------------------- 
                               2012             2011             2010             2012             2011             2010      
                          ---------------  ---------------  --------------- ---------------  ---------------  --------------- 

                                                                                                                              
Units beginning of year..          27,693           25,753           21,298           6,014            5,088            2,173 
Units issued and                                                                                                              
   transferred from other                                                                                                     
   funding options.......           2,368            3,131           55,695           1,505            1,929            5,903 
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......         (2,432)          (1,191)         (51,240)         (1,298)          (1,003)          (2,988) 
                          ---------------  ---------------  --------------- ---------------  ---------------  --------------- 
Units end of year........          27,629           27,693           25,753           6,221            6,014            5,088 
                          ===============  ===============  =============== ===============  ===============  =============== 


(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

8. SCHEDULES OF UNITS -- (CONTINUED)                                            
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010:                     

                                                        [Enlarge/Download Table]

                              MIST MET/                                                                                          
                              TEMPLETON                                                                                          
                            INTERNATIONAL             MIST METLIFE              MIST METLIFE            MIST MFS EMERGING        
                              BOND MIST            AGGRESSIVE STRATEGY          BALANCED PLUS            MARKETS EQUITY          
                         INVESTMENT DIVISION       INVESTMENT DIVISION       INVESTMENT DIVISION       INVESTMENT DIVISION       
                         ------------------- ------------------------------- ------------------- --------------------------------
                              2012 (f)            2012           2011 (d)         2012 (f)             2012          2011 (d)    
                         ------------------- ---------------  -------------- ------------------- ---------------  ---------------

                                                                                                                                 
Units beginning of year.               --          1,049,786              --               --              2,070               --
Units issued and                                                                                                                 
   transferred from                                                                                                              
   other funding options              270            225,712       1,234,168            4,873             12,249            2,117
Units redeemed and                                                                                                               
   transferred to other                                                                                                          
   funding options......             (89)          (189,824)       (184,382)            (586)            (7,582)             (47)
                         ------------------- ---------------  -------------- ------------------- ---------------  ---------------
Units end of year.......              181          1,085,674       1,049,786            4,287              6,737            2,070
                         =================== ===============  ============== =================== ===============  ===============



                                  MIST MFS RESEARCH INTERNATIONAL                            MLA MID CAP                         
                                        INVESTMENT DIVISION                              INVESTMENT DIVISION                     
                         ------------------------------------------------- ------------------------------------------------      
                               2012            2011             2010            2012             2011            2010            
                         ---------------  ---------------  --------------- --------------  ---------------  ---------------      

                                                                                                                                 
Units beginning of year.         820,338          838,110          885,756        358,406          360,447          362,314      
Units issued and                                                                                                                 
   transferred from                                                                                                              
   other funding options         314,771          223,953        1,201,606         58,299          109,194          450,103      
Units redeemed and                                                                                                               
   transferred to other                                                                                                          
   funding options......       (214,418)        (241,725)      (1,249,252)       (82,282)        (111,235)        (451,970)      
                         ---------------  ---------------  --------------- --------------  ---------------  ---------------      
Units end of year.......         920,691          820,338          838,110        334,423          358,406          360,447      
                         ===============  ===============  =============== ==============  ===============  ===============      

                                                        [Enlarge/Download Table]

                                 MIST MORGAN STANLEY MID CAP GROWTH                MIST PIMCO INFLATION PROTECTED BOND       
                                         INVESTMENT DIVISION                               INVESTMENT DIVISION               
                          ------------------------------------------------- -------------------------------------------------
                                2012             2011             2010            2012             2011             2010     
                          ---------------- ---------------  --------------- ---------------  ---------------  ---------------

                                                                                                                             
Units beginning of year..       12,356,734      13,121,650           23,317         700,157          653,613          618,801
Units issued and                                                                                                             
   transferred from                                                                                                          
   other funding options.        1,750,563       1,773,282       24,103,485         381,726          288,475        1,507,168
Units redeemed and                                                                                                           
   transferred to other                                                                                                      
   funding options.......      (2,275,594)     (2,538,198)     (11,005,152)       (244,174)        (241,931)      (1,472,356)
                          ---------------- ---------------  --------------- ---------------  ---------------  ---------------
Units end of year........       11,831,703      12,356,734       13,121,650         837,709          700,157          653,613
                          ================ ===============  =============== ===============  ===============  ===============


                                       MIST PIMCO TOTAL RETURN                             MIST PIONEER FUND                 
                                         INVESTMENT DIVISION                              INVESTMENT DIVISION                
                          ------------------------------------------------- -------------------------------------------------
                                2012             2011             2010           2012             2011             2010      
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------

                                                                                                                             
Units beginning of year..       2,427,091        2,450,427        2,378,221          13,480           17,938           20,277
Units issued and                                                                                                             
   transferred from                                                                                                          
   other funding options.         550,605          620,126        2,765,705             301              399              399
Units redeemed and                                                                                                           
   transferred to other                                                                                                      
   funding options.......       (612,124)        (643,462)      (2,693,499)           (327)          (4,857)          (2,738)
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------
Units end of year........       2,365,572        2,427,091        2,450,427          13,454           13,480           17,938
                          ===============  ===============  =============== ===============  ===============  ===============

                                                        [Enlarge/Download Table]

                                                                            MIST SCHRODERS                                
                                       MIST RCM TECHNOLOGY                GLOBAL MULTI-ASSET                              
                                       INVESTMENT DIVISION                INVESTMENT DIVISION                             
                         ------------------------------------------------ -------------------                             
                               2012            2011             2010           2012 (f)                                   
                         ---------------  ---------------  -------------- -------------------                             

                                                                                                                          
Units beginning of year.       1,828,123        2,007,835       2,111,049               --                                
Units issued and                                                                                                          
   transferred from                                                                                                       
   other funding options         519,280          541,643       3,754,204            7,478                                
Units redeemed and                                                                                                        
   transferred to other                                                                                                   
   funding options......       (630,576)        (721,355)     (3,857,418)          (2,144)                                
                         ---------------  ---------------  -------------- -------------------                             
Units end of year.......       1,716,827        1,828,123       2,007,835            5,334                                
                         ===============  ===============  ============== ===================                             



                                 MIST SSGA GROWTH AND INCOME ETF                       MIST SSGA GROWTH ETF               
                                       INVESTMENT DIVISION                              INVESTMENT DIVISION               
                         ------------------------------------------------ ------------------------------------------------
                              2012             2011             2010           2012             2011             2010     
                         --------------- ---------------  --------------- ---------------  --------------  ---------------

                                                                                                                          
Units beginning of year.         381,525         320,284          149,333         299,115         237,751          181,473
Units issued and                                                                                                          
   transferred from                                                                                                       
   other funding options         154,362         139,491          435,343         100,874         190,117          355,523
Units redeemed and                                                                                                        
   transferred to other                                                                                                   
   funding options......        (85,111)        (78,250)        (264,392)        (67,322)       (128,753)        (299,245)
                         --------------- ---------------  --------------- ---------------  --------------  ---------------
Units end of year.......         450,776         381,525          320,284         332,667         299,115          237,751
                         =============== ===============  =============== ===============  ==============  ===============


(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

8. SCHEDULES OF UNITS -- (CONTINUED)                                            
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010:                     

                                                        [Enlarge/Download Table]

                                 MIST T. ROWE PRICE LARGE CAP VALUE                  MIST T. ROWE PRICE MID CAP GROWTH         
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          -------------------------------------------------- --------------------------------------------------
                                2012             2011             2010             2012             2011             2010      
                          ---------------  ----------------  --------------- ---------------  ----------------  ---------------

                                                                                                                               
Units beginning of year..         108,604           601,441          585,353       1,957,835         1,725,748        1,754,850
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.           5,096             1,323           46,143         314,763           685,902        2,400,707
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......         (1,586)         (494,160)         (30,055)       (727,694)         (453,815)      (2,429,809)
                          ---------------  ----------------  --------------- ---------------  ----------------  ---------------
Units end of year........         112,114           108,604          601,441       1,544,904         1,957,835        1,725,748
                          ===============  ================  =============== ===============  ================  ===============


                                  MIST THIRD AVENUE SMALL CAP VALUE               MSF BAILLIE GIFFORD INTERNATIONAL STOCK      
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          -------------------------------------------------- --------------------------------------------------
                                2012             2011             2010            2012              2011             2010      
                          ---------------  ---------------  ---------------- ---------------  ---------------  ----------------

                                                                                                                               
Units beginning of year..          54,483           96,930            66,457       2,947,427        2,985,340         3,130,833
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.           8,078           30,935            54,144         466,869          537,715         2,254,216
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......        (12,048)         (73,382)          (23,671)       (628,395)        (575,628)       (2,399,709)
                          ---------------  ---------------  ---------------- ---------------  ---------------  ----------------
Units end of year........          50,513           54,483            96,930       2,785,901        2,947,427         2,985,340
                          ===============  ===============  ================ ===============  ===============  ================

                                                        [Enlarge/Download Table]

                              MSF BARCLAYS CAPITAL AGGREGATE BOND INDEX              MSF BLACKROCK AGGRESSIVE GROWTH          
                                         INVESTMENT DIVISION                               INVESTMENT DIVISION                
                          -------------------------------------------------- -------------------------------------------------
                                2012             2011             2010            2012              2011             2010     
                          ---------------  ---------------  ---------------- ---------------  ---------------  ---------------

                                                                                                                              
Units beginning of year..       5,367,889        6,069,208         5,979,612       8,613,267        9,010,506        9,655,662
Units issued and                                                                                                              
   transferred from                                                                                                           
   other funding options.       1,299,442        1,036,792         5,950,976         944,396        1,226,282        5,730,219
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......     (1,138,456)      (1,738,111)       (5,861,380)     (1,504,257)      (1,623,521)      (6,375,375)
                          ---------------  ---------------  ---------------- ---------------  ---------------  ---------------
Units end of year........       5,528,875        5,367,889         6,069,208       8,053,406        8,613,267        9,010,506
                          ===============  ===============  ================ ===============  ===============  ===============


                                      MSF BLACKROCK BOND INCOME                          MSF BLACKROCK DIVERSIFIED            
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION               
                          -------------------------------------------------- -------------------------------------------------
                                2012             2011             2010            2012              2011             2010     
                          ---------------  ----------------  --------------- ---------------  ---------------  ---------------

                                                                                                                              
Units beginning of year..       3,448,815         3,695,898        3,849,026      10,223,668       10,826,228       11,480,151
Units issued and                                                                                                              
   transferred from                                                                                                           
   other funding options.         453,762           476,235        2,545,294       1,214,215        1,401,995        7,504,390
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......       (616,053)         (723,318)      (2,698,422)     (1,840,603)      (2,004,555)      (8,158,313)
                          ---------------  ----------------  --------------- ---------------  ---------------  ---------------
Units end of year........       3,286,524         3,448,815        3,695,898       9,597,280       10,223,668       10,826,228
                          ===============  ================  =============== ===============  ===============  ===============

                                                        [Enlarge/Download Table]

                                    MSF BLACKROCK LARGE CAP VALUE                  MSF BLACKROCK LEGACY LARGE CAP GROWTH       
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          -------------------------------------------------- --------------------------------------------------
                                2012             2011             2010             2012             2011              2010     
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------

                                                                                                                               
Units beginning of year..        1,036,664        1,026,360        1,018,697          533,802          494,998          480,438
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.          193,068          229,911        1,430,731          759,181          231,277          793,080
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......        (257,334)        (219,607)      (1,423,068)        (209,226)        (192,473)        (778,520)
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------
Units end of year........          972,398        1,036,664        1,026,360        1,083,757          533,802          494,998
                          ================ ================  =============== ================  ===============  ===============


                                     MSF BLACKROCK MONEY MARKET                           MSF DAVIS VENTURE VALUE              
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          -------------------------------------------------- --------------------------------------------------
                                2012             2011              2010            2012             2011              2010     
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------

                                                                                                                               
Units beginning of year..        1,163,332        1,663,896        1,962,757        1,569,723        1,632,869        1,661,533
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.          797,800          607,896        1,839,931          233,892          320,460        1,634,097
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......        (655,130)      (1,108,460)      (2,138,792)        (291,754)        (383,606)      (1,662,761)
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------
Units end of year........        1,306,002        1,163,332        1,663,896        1,511,861        1,569,723        1,632,869
                          ================ ================  =============== ================  ===============  ===============


(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

8. SCHEDULES OF UNITS -- (CONTINUED)                                            
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010:                     

                                                        [Enlarge/Download Table]

                                      MSF FI VALUE LEADERS                              MSF JENNISON GROWTH                
                                       INVESTMENT DIVISION                              INVESTMENT DIVISION                
                         ------------------------------------------------ -------------------------------------------------
                               2012            2011             2010            2012             2011            2010      
                         ---------------  ---------------  -------------- ---------------  ---------------  ---------------

                                                                                                                           
Units beginning of year.         489,548          493,819         478,934       1,066,474        1,234,658        1,148,604
Units issued and                                                                                                           
   transferred from                                                                                                        
   other funding options          86,660          119,587         576,474         309,675          212,585        1,009,921
Units redeemed and                                                                                                         
   transferred to other                                                                                                    
   funding options......       (106,947)        (123,858)       (561,589)       (224,631)        (380,769)        (923,867)
                         ---------------  ---------------  -------------- ---------------  ---------------  ---------------
Units end of year.......         469,261          489,548         493,819       1,151,518        1,066,474        1,234,658
                         ===============  ===============  ============== ===============  ===============  ===============


                                 MSF LOOMIS SAYLES SMALL CAP CORE                MSF LOOMIS SAYLES SMALL CAP GROWTH        
                                        INVESTMENT DIVISION                              INVESTMENT DIVISION               
                         ------------------------------------------------- ------------------------------------------------
                               2012             2011            2010            2012             2011             2010     
                         ---------------  ---------------  --------------- --------------  ---------------  ---------------

                                                                                                                           
Units beginning of year.          95,949          115,539          116,312        639,754          597,616          592,149
Units issued and                                                                                                           
   transferred from                                                                                                        
   other funding options          10,523           19,557           70,304         96,222          204,191          595,787
Units redeemed and                                                                                                         
   transferred to other                                                                                                    
   funding options......        (17,993)         (39,147)         (71,077)      (166,556)        (162,053)        (590,320)
                         ---------------  ---------------  --------------- --------------  ---------------  ---------------
Units end of year.......          88,479           95,949          115,539        569,420          639,754          597,616
                         ===============  ===============  =============== ==============  ===============  ===============

                                                        [Enlarge/Download Table]

                                    MSF MET/ARTISAN MID CAP VALUE                   MSF METLIFE CONSERVATIVE ALLOCATION        
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          -------------------------------------------------- --------------------------------------------------
                                2012             2011             2010             2012             2011             2010      
                          ---------------  ----------------  --------------- ---------------  ---------------  ----------------

                                                                                                                               
Units beginning of year..         187,483           222,836          191,339         293,962          281,025           179,332
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.          37,546            55,960          303,121         138,689          187,246           672,097
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......        (36,252)          (91,313)        (271,624)       (101,783)        (174,309)         (570,404)
                          ---------------  ----------------  --------------- ---------------  ---------------  ----------------
Units end of year........         188,777           187,483          222,836         330,868          293,962           281,025
                          ===============  ================  =============== ===============  ===============  ================


                           MSF METLIFE CONSERVATIVE TO MODERATE ALLOCATION            MSF METLIFE MID CAP STOCK INDEX          
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          -------------------------------------------------- --------------------------------------------------
                               2012              2011             2010             2012             2011              2010     
                          ---------------  ---------------  ---------------- ----------------  ---------------  ---------------

                                                                                                                               
Units beginning of year..         491,119          523,187           443,689        3,140,839        3,223,737        3,313,158
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.         165,315          194,728           852,775          476,623          578,839        3,107,108
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......       (107,740)        (226,796)         (773,277)        (646,076)        (661,737)      (3,196,529)
                          ---------------  ---------------  ---------------- ----------------  ---------------  ---------------
Units end of year........         548,694          491,119           523,187        2,971,386        3,140,839        3,223,737
                          ===============  ===============  ================ ================  ===============  ===============

                                                        [Enlarge/Download Table]

                                 MSF METLIFE MODERATE ALLOCATION            MSF METLIFE MODERATE TO AGGRESSIVE ALLOCATION  
                                       INVESTMENT DIVISION                               INVESTMENT DIVISION               
                         ------------------------------------------------- ------------------------------------------------
                               2012            2011             2010            2012             2011             2010     
                         ---------------  ---------------  --------------- --------------  ---------------  ---------------

                                                                                                                           
Units beginning of year.       3,050,810        2,825,563        2,488,914      5,400,236        5,118,269        4,732,679
Units issued and                                                                                                           
   transferred from                                                                                                        
   other funding options         658,640          818,677        4,421,202      1,100,174        1,298,976        8,011,177
Units redeemed and                                                                                                         
   transferred to other                                                                                                    
   funding options......       (623,602)        (593,430)      (4,084,553)    (1,066,769)      (1,017,009)      (7,625,587)
                         ---------------  ---------------  --------------- --------------  ---------------  ---------------
Units end of year.......       3,085,848        3,050,810        2,825,563      5,433,641        5,400,236        5,118,269
                         ===============  ===============  =============== ==============  ===============  ===============


                                     MSF METLIFE STOCK INDEX                           MSF MFS TOTAL RETURN                
                                       INVESTMENT DIVISION                              INVESTMENT DIVISION                
                         ------------------------------------------------ ------------------------------------------------ 
                              2012             2011             2010            2012            2011             2010      
                         ---------------  --------------  --------------- ---------------  ---------------  -------------- 

                                                                                                                           
Units beginning of year.      36,301,700      36,664,506       36,924,505         528,477          568,106         580,613 
Units issued and                                                                                                           
   transferred from                                                                                                        
   other funding options       4,994,055       5,857,273       25,845,802         105,811          110,243         701,621 
Units redeemed and                                                                                                         
   transferred to other                                                                                                    
   funding options......     (6,237,155)     (6,220,079)     (26,105,801)       (110,694)        (149,872)       (714,128) 
                         ---------------  --------------  --------------- ---------------  ---------------  -------------- 
Units end of year.......      35,058,600      36,301,700       36,664,506         523,594          528,477         568,106 
                         ===============  ==============  =============== ===============  ===============  ============== 


(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

8. SCHEDULES OF UNITS -- (CONTINUED)                                            
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010:                     

                                                        [Enlarge/Download Table]

                                            MSF MFS VALUE                                   MSF MSCI EAFE INDEX                
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          -------------------------------------------------- --------------------------------------------------
                                2012             2011              2010            2012             2011              2010     
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------

                                                                                                                               
Units beginning of year..        3,828,828        3,975,344        4,056,273        4,910,651        4,717,340        4,618,467
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.          529,637          685,905        3,454,529          973,636        1,183,779        5,171,804
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......        (723,577)        (832,421)      (3,535,458)      (1,145,550)        (990,468)      (5,072,931)
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------
Units end of year........        3,634,888        3,828,828        3,975,344        4,738,737        4,910,651        4,717,340
                          ================ ================  =============== ================  ===============  ===============


                                    MSF NEUBERGER BERMAN GENESIS                       MSF OPPENHEIMER GLOBAL EQUITY           
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          -------------------------------------------------- --------------------------------------------------
                                2012             2011              2010            2012             2011              2010     
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------

                                                                                                                               
Units beginning of year..        3,915,596        4,111,864        4,279,459        1,918,512        2,044,692        2,111,250
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.          506,545          590,730        3,571,339          220,361          348,871        1,375,412
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......        (720,799)        (786,998)      (3,738,934)        (369,617)        (475,051)      (1,441,970)
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------
Units end of year........        3,701,342        3,915,596        4,111,864        1,769,256        1,918,512        2,044,692
                          ================ ================  =============== ================  ===============  ===============

                                                        [Enlarge/Download Table]


                                       MSF RUSSELL 2000 INDEX                       MSF T. ROWE PRICE LARGE CAP GROWTH         
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION                
                          -------------------------------------------------- --------------------------------------------------
                                2012             2011              2010            2012             2011              2010     
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------

                                                                                                                               
Units beginning of year..        2,653,125        2,808,600        2,972,133        2,954,760        3,148,378        3,409,767
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.          369,378          516,402        2,633,026          509,096          503,272        2,659,923
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......        (529,922)        (671,877)      (2,796,559)        (561,801)        (696,890)      (2,921,312)
                          ---------------- ----------------  --------------- ----------------  ---------------  ---------------
Units end of year........        2,492,581        2,653,125        2,808,600        2,902,055        2,954,760        3,148,378
                          ================ ================  =============== ================  ===============  ===============


                                                                                    MSF VAN ECK GLOBAL                         
                                 MSF T. ROWE PRICE SMALL CAP GROWTH                  NATURAL RESOURCES                         
                                         INVESTMENT DIVISION                        INVESTMENT DIVISION                        
                          -------------------------------------------------- ---------------------------------                 
                                2012             2011              2010            2012           2011 (d)                     
                          ----------------  ---------------  --------------- ----------------  ---------------                 

                                                                                                                               
Units beginning of year..        3,938,724        4,055,742        4,272,691               81               --                 
Units issued and                                                                                                               
   transferred from                                                                                                            
   other funding options.          426,779          645,717        2,453,679              295               83                 
Units redeemed and                                                                                                             
   transferred to other                                                                                                        
   funding options.......        (705,119)        (762,735)      (2,670,628)             (57)              (2)                 
                          ----------------  ---------------  --------------- ----------------  ---------------                 
Units end of year........        3,660,384        3,938,724        4,055,742              319               81                 
                          ================  ===============  =============== ================  ===============                 

                                                        [Enlarge/Download Table]


                                    MSF WESTERN ASSET MANAGEMENT                      MSF WESTERN ASSET MANAGEMENT              
                                    STRATEGIC BOND OPPORTUNITIES                             U.S. GOVERNMENT                    
                                         INVESTMENT DIVISION                               INVESTMENT DIVISION                  
                          ------------------------------------------------- -------------------------------------------------   
                                2012             2011             2010            2012             2011             2010        
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------   

                                                                                                                                
Units beginning of year..       1,068,823        1,145,809        1,115,618         957,065        1,021,769        1,063,071   
Units issued and                                                                                                                
   transferred from                                                                                                             
   other funding options.         191,180          190,447        1,232,736         195,506          193,206        1,297,550   
Units redeemed and                                                                                                              
   transferred to other                                                                                                         
   funding options.......       (222,981)        (267,433)      (1,202,545)       (216,214)        (257,910)      (1,338,852)   
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------   
Units end of year........       1,037,022        1,068,823        1,145,809         936,357          957,065        1,021,769   
                          ===============  ===============  =============== ===============  ===============  ===============   


                                                                PIMCO VIT                                                       
                                                                LONG-TERM                                                       
                                PIMCO VIT ALL ASSET          U.S. GOVERNMENT               PIMCO VIT LOW DURATION               
                                INVESTMENT DIVISION        INVESTMENT DIVISION               INVESTMENT DIVISION                
                          -------------------------------- ------------------- -------------------------------------------------
                               2012           2011 (d)          2012 (g)            2012             2011             2010      
                          ---------------  --------------- ------------------- ---------------  ---------------  ---------------

                                                                                                                                
Units beginning of year..           8,649               --                --            80,364           65,497           66,450
Units issued and                                                                                                                
   transferred from                                                                                                             
   other funding options.           2,051            8,680             1,975             2,679           16,680               --
Units redeemed and                                                                                                              
   transferred to other                                                                                                         
   funding options.......           (375)             (31)               (7)           (3,955)          (1,813)            (953)
                          ---------------  --------------- ------------------- ---------------  ---------------  ---------------
Units end of year........          10,325            8,649             1,968            79,088           80,364           65,497
                          ===============  =============== =================== ===============  ===============  ===============


(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

8. SCHEDULES OF UNITS -- (CONCLUDED)                                            
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010:                     

                                                        [Enlarge/Download Table]

                                    PIONEER VCT EMERGING MARKETS                        PIONEER VCT MID CAP VALUE            
                                         INVESTMENT DIVISION                               INVESTMENT DIVISION               
                          ------------------------------------------------- -------------------------------------------------
                                2012             2011             2010            2012             2011            2010      
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------

                                                                                                                             
Units beginning of year..          22,116           41,431           37,577           3,306            2,302              586
Units issued and                                                                                                             
   transferred from                                                                                                          
   other funding options.          24,901           15,775           11,637             238            1,144            1,815
Units redeemed and                                                                                                           
   transferred to other                                                                                                      
   funding options.......        (13,796)         (35,090)          (7,783)           (155)            (140)             (99)
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------
Units end of year........          33,221           22,116           41,431           3,389            3,306            2,302
                          ===============  ===============  =============== ===============  ===============  ===============


                                          ROYCE MICRO-CAP                                    ROYCE SMALL-CAP                 
                                        INVESTMENT DIVISION                                INVESTMENT DIVISION               
                          ------------------------------------------------- -------------------------------------------------
                               2012             2011           2010 (a)           2012             2011             2010     
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------

                                                                                                                             
Units beginning of year..          19,473           19,226               --          52,075           26,235            4,703
Units issued and                                                                                                             
   transferred from                                                                                                          
   other funding options.           2,968            1,095           19,549          11,367           66,609           35,416
Units redeemed and                                                                                                           
   transferred to other                                                                                                      
   funding options.......           (756)            (848)            (323)        (30,208)         (40,769)         (13,884)
                          ---------------  ---------------  --------------- ---------------  ---------------  ---------------
Units end of year........          21,685           19,473           19,226          33,234           52,075           26,235
                          ===============  ===============  =============== ===============  ===============  ===============

                                                        [Enlarge/Download Table]

                                      UIF EMERGING MARKETS DEBT                         UIF EMERGING MARKETS EQUITY           
                                         INVESTMENT DIVISION                                INVESTMENT DIVISION               
                          -------------------------------------------------- -------------------------------------------------
                                2012             2011             2010             2012             2011             2010     
                          ---------------- ---------------  ---------------- ---------------- ---------------  ---------------

                                                                                                                              
Units beginning of year..           13,883             259               223           43,435          13,018              442
Units issued and                                                                                                              
   transferred from                                                                                                           
   other funding options.           21,216          14,310                79           30,945          46,847           13,146
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......          (2,040)           (686)              (43)          (4,968)        (16,430)            (570)
                          ---------------- ---------------  ---------------- ---------------- ---------------  ---------------
Units end of year........           33,059          13,883               259           69,412          43,435           13,018
                          ================ ===============  ================ ================ ===============  ===============


                                  WELLS FARGO VT TOTAL RETURN BOND                                                            
                                         INVESTMENT DIVISION                                                                  
                          -------------------------------------------------                                                   
                                2012             2011             2010                                                        
                          ---------------  ---------------  ---------------                                                   

                                                                                                                              
Units beginning of year..           8,689           75,281           39,845                                                   
Units issued and                                                                                                              
   transferred from                                                                                                           
   other funding options.          26,948            4,877           56,222                                                   
Units redeemed and                                                                                                            
   transferred to other                                                                                                       
   funding options.......         (6,017)         (71,469)         (20,786)                                                   
                          ---------------  ---------------  ---------------                                                   
Units end of year........          29,620            8,689           75,281                                                   
                          ===============  ===============  ===============                                                   


(a) Commenced November 10, 2008 and began transactions in 2010.                 
(b) Commenced May 3, 2010 and began transactions in 2012.                       
(c) Commenced May 4, 2009 and began transactions in 2011.                       
(d) For the period May 2, 2011 to December 31, 2011.                            
(e) For the period May 3, 2010 to December 31, 2010.                            
(f) For the period April 30, 2012 to December 31, 2012.                         
(g) Commenced May 4, 2009 and began transactions in 2012.                       

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

9. FINANCIAL HIGHLIGHTS                                                         

The Company sells a number of variable life products which have unique          
combinations of features and fees, some of which directly affect the unit       
values of the Investment Divisions. Differences in the fee structures result in 
a variety of unit values, expense ratios, and total returns.                    

The following table is a summary of unit values and units outstanding for the   
Policies, net investment income ratios, and expense ratios, excluding expenses  
for the underlying fund, portfolio, or series, for the respective stated        
periods in the five years ended December 31, 2012:                              

                                                        [Enlarge/Download Table]

                                                           AS OF DECEMBER 31                    
                                            -----------------------------------------------     
                                                              UNIT VALUE                        
                                                               LOWEST TO           NET          
                                                UNITS         HIGHEST ($)      ASSETS ($)       
                                             -----------   -----------------  -------------     
                                                                                                
AllianceBernstein Global Thematic      2012       11,630                5.32         61,856     
   Growth Investment Division          2011      914,212                4.70      4,293,695     
                                       2010       19,486                6.13        119,488     
                                       2009       25,043                5.17        129,504     
                                       2008       14,644                3.38         49,447     

AllianceBernstein Intermediate Bond    2012        6,675               15.48        103,300     
   Investment Division                 2011        3,232               14.63         47,286     
   (Commenced 5/1/2005                 2010        3,146               13.75         43,265     
   and began transactions in 2009)     2009        2,242               12.62         28,308     

AllianceBernstein International Value  2012            9               17.28            156     
   Investment Division                 2011            9               15.08            141     
   (Commenced 11/10/2008               2010           73               18.68          1,357     
   and began transactions in 2010)                                                              

American Century VP Vista              2012          279               14.73          4,105     
   Investment Division                 2011          679               12.74          8,654     
                                       2010        5,360               13.83         74,155     
                                       2009       13,115               11.17        146,455     
                                       2008        8,686                9.12         79,193     

American Funds Bond Investment         2012      397,946       12.53 - 22.37      5,420,310     
   Division                            2011      367,699       11.99 - 21.23      4,735,459     
                                       2010      361,073       11.41 - 20.00      4,365,031     
                                       2009      335,183       10.81 - 18.79      3,760,642     
                                       2008      317,147        9.69 - 16.69      3,143,128     

American Funds Global Small            2012    1,947,587       27.80 - 35.48     59,237,806     
   Capitalization Investment Division  2011    2,037,588       23.74 - 30.03     52,474,989     
                                       2010    2,114,920       29.62 - 37.13     67,405,353     
                                       2009    2,152,577       24.42 - 30.34     56,054,284     
                                       2008    2,098,117       15.27 - 18.81     33,880,750     

American Funds Growth Investment       2012    1,269,410      23.60 - 258.21    130,921,222     
   Division                            2011    1,353,057      20.02 - 219.03    118,199,510     
                                       2010    1,411,108      20.92 - 228.81    127,437,855     
                                       2009    1,419,237      17.62 - 192.80    109,197,492     
                                       2008    1,382,286      12.64 - 138.29     76,515,292     

American Funds Growth-Income           2012    1,382,116      51.99 - 175.83     79,614,717     
   Investment Division                 2011    1,453,945      44.65 - 149.67     71,256,817     
                                       2010    1,483,095      45.89 - 152.46     73,861,194     
                                       2009    1,491,242      41.56 - 136.83     66,537,414     
                                       2008    1,461,879      31.95 - 104.26     49,610,668     


                                                      FOR THE YEAR ENDED DECEMBER 31            
                                            ----------------------------------------------------
                                             INVESTMENT(1)  EXPENSE RATIO(2)     TOTAL RETURN(3)
                                                INCOME          LOWEST TO           LOWEST TO   
                                               RATIO (%)       HIGHEST (%)         HIGHEST (%)  
                                            --------------  ----------------   -----------------
                                                                                                
AllianceBernstein Global Thematic      2012        --                 0.00                 13.24
   Growth Investment Division          2011      0.43                 0.00               (23.40)
                                       2010      1.84                 0.00                 18.58
                                       2009        --                 0.00                 53.14
                                       2008        --                 0.00               (47.48)

AllianceBernstein Intermediate Bond    2012      3.42                 0.00                  5.79
   Investment Division                 2011      4.56                 0.00                  6.38
   (Commenced 5/1/2005                 2010      5.90                 0.00                  8.93
   and began transactions in 2009)     2009      4.18                 0.00                 18.20

AllianceBernstein International Value  2012      1.66                 0.00                 14.53
   Investment Division                 2011      1.92                 0.00               (19.25)
   (Commenced 11/10/2008               2010      2.40                 0.00                 13.41
   and began transactions in 2010)                                                              

American Century VP Vista              2012        --                 0.00                 15.61
   Investment Division                 2011        --                 0.00                (7.90)
                                       2010        --                 0.00                 23.88
                                       2009        --                 0.00                 22.47
                                       2008        --                 0.00               (48.63)

American Funds Bond Investment         2012      2.55          0.00 - 0.90           4.42 - 5.37
   Division                            2011      3.08          0.00 - 0.90           5.15 - 6.10
                                       2010      3.15          0.00 - 0.90           5.49 - 6.44
                                       2009      3.37                 0.90         11.60 - 12.61
                                       2008      5.80                 0.90      (10.12) - (9.37)

American Funds Global Small            2012      1.34          0.00 - 0.90         17.11 - 18.18
   Capitalization Investment Division  2011      1.33          0.00 - 0.90     (19.87) - (19.14)
                                       2010      1.74          0.00 - 0.90         21.32 - 22.41
                                       2009      0.29                 0.90         59.85 - 61.30
                                       2008        --                 0.90     (53.94) - (48.89)

American Funds Growth Investment       2012      0.80          0.00 - 0.90         16.83 - 17.89
   Division                            2011      0.61          0.00 - 0.90       (5.13) - (4.27)
                                       2010      0.73          0.00 - 0.90         17.62 - 18.68
                                       2009      0.67                 0.90         38.16 - 39.41
                                       2008      0.86                 0.90       (44.47) - 27.72

American Funds Growth-Income           2012      1.64          0.00 - 0.90         16.42 - 17.48
   Investment Division                 2011      1.57          0.00 - 0.90       (2.71) - (1.83)
                                       2010      1.51          0.00 - 0.90         10.43 - 11.43
                                       2009      1.65                 0.90         30.07 - 31.24
                                       2008      1.79                 0.90     (38.41) - (35.35)

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

9. FINANCIAL HIGHLIGHTS -- (CONTINUED)                                          

                                                        [Enlarge/Download Table]

                                                        AS OF DECEMBER 31                    
                                         -----------------------------------------------     
                                                           UNIT VALUE                        
                                                            LOWEST TO           NET          
                                             UNITS         HIGHEST ($)      ASSETS ($)       
                                          -----------   -----------------  -------------     
                                                                                             
American Funds High-Income Bond     2012        4,606               12.43         57,231     
   Investment Division                                                                       
   (Commenced 5/3/2010 and began                                                             
   transactions in 2012)                                                                     

American Funds International        2012       18,773               29.41        552,053     
   Investment Division              2011       21,039               24.94        524,711     
   (Commenced 4/28/2008)            2010       27,930               28.99        809,625     
                                    2009       17,214               27.03        465,344     
                                    2008        2,335               18.89         44,134     

American Funds U.S.                 2012        1,972               22.92         45,192     
   Government/AAA-Rated             2011        2,025               22.49         45,539     
   Securities Investment Division   2010        1,810               20.90         37,830     
   (Commenced 4/28/2008)            2009        4,564               19.77         90,231     
                                    2008        1,808               19.29         34,883     

Dreyfus VIF International Value     2012       16,013               12.81        205,133     
   Investment Division              2011       16,153               11.40        184,061     
                                    2010       16,502               14.03        231,464     
                                    2009       21,676               13.45        291,742     
                                    2008       33,156               10.30        341,560     

Fidelity VIP Asset Manager: Growth  2012      164,596               11.95      1,966,232     
   Investment Division              2011      138,116               10.36      1,430,516     
                                    2010      172,460               11.05      1,905,608     
                                    2009      181,097                9.51      1,722,435     
                                    2008      126,890                7.16        908,867     

Fidelity VIP Contrafund Investment  2012      147,414               15.89      2,343,022     
   Division                         2011      157,450               13.67      2,151,649     
                                    2010      190,755               14.04      2,677,373     
                                    2009      332,757               11.99      3,988,185     
                                    2008      218,160                8.83      1,927,330     

Fidelity VIP Equity-Income          2012        4,431               14.06         62,291     
   Investment Division              2011        1,549               12.00         18,589     
                                    2010       17,040               11.90        202,690     
                                    2009       23,778               10.33        245,766     
                                    2008       72,691                7.95        577,801     

Fidelity VIP Freedom 2010           2012        3,378               11.73         39,638     
   Investment Division              2011        3,238               10.55         34,144     
   (Commenced 4/28/2008)            2010        3,002               10.61         31,860     
                                    2009        1,541        9.44 - 12.05         14,548     
                                    2008        3,089         7.63 - 9.69         23,569     

Fidelity VIP Freedom 2020           2012       51,279       11.29 - 15.34        764,724     
   Investment Division              2011       53,514       10.01 - 13.53        699,714     
   (Commenced 4/28/2008)            2010       56,297       10.16 - 13.67        738,702     
                                    2009       56,341        8.91 - 11.94        648,511     
                                    2008        4,617         6.94 - 9.26         37,721     


                                                   FOR THE YEAR ENDED DECEMBER 31            
                                         ----------------------------------------------------
                                          INVESTMENT(1)  EXPENSE RATIO(2)     TOTAL RETURN(3)
                                             INCOME          LOWEST TO           LOWEST TO   
                                            RATIO (%)       HIGHEST (%)         HIGHEST (%)  
                                         --------------  ----------------   -----------------
                                                                                             
American Funds High-Income Bond     2012       5.70                0.00                  6.93
   Investment Division                                                                       
   (Commenced 5/3/2010 and began                                                             
   transactions in 2012)                                                                     

American Funds International        2012       1.43                0.00                 17.91
   Investment Division              2011       1.50                0.00               (13.96)
   (Commenced 4/28/2008)            2010       2.23                0.00                  7.23
                                    2009       1.51                0.00                 43.07
                                    2008       2.51                0.00               (39.19)

American Funds U.S.                 2012       1.00                0.00                  1.90
   Government/AAA-Rated             2011       1.73                0.00                  7.57
   Securities Investment Division   2010       1.49                0.00                  5.75
   (Commenced 4/28/2008)            2009       3.32                0.00                  2.50
                                    2008       2.26                0.00                  6.61

Dreyfus VIF International Value     2012       2.56                0.00                 12.42
   Investment Division              2011       1.88                0.00               (18.76)
                                    2010       1.53                0.00                  4.22
                                    2009       3.77                0.00                 30.67
                                    2008       2.14                0.00               (37.50)

Fidelity VIP Asset Manager: Growth  2012       1.40                0.00                 15.34
   Investment Division              2011       1.33                0.00                (6.27)
                                    2010       1.12                0.00                 16.18
                                    2009       1.60                0.00                 32.79
                                    2008       1.87                0.00               (35.88)

Fidelity VIP Contrafund Investment  2012       1.22                0.00                 16.31
   Division                         2011       0.83                0.00                (2.64)
                                    2010       0.96                0.00                 17.11
                                    2009       1.48                0.00                 35.66
                                    2008       0.90                0.00               (42.60)

Fidelity VIP Equity-Income          2012       5.62                0.00                 17.19
   Investment Division              2011       0.35                0.00                  0.86
                                    2010       1.60                0.00                 15.09
                                    2009       1.95                0.00                 30.03
                                    2008       1.89                0.00               (42.69)

Fidelity VIP Freedom 2010           2012       1.97                0.00                 11.28
   Investment Division              2011       2.18                0.00                (0.63)
   (Commenced 4/28/2008)            2010       2.67                0.00                 12.45
                                    2009       3.32                0.45         23.72 - 24.27
                                    2008       6.53                0.45     (23.71) - (23.48)

Fidelity VIP Freedom 2020           2012       2.06                0.00         12.87 - 13.38
   Investment Division              2011       2.10                0.00       (1.47) - (1.03)
   (Commenced 4/28/2008)            2010       2.26                0.00         13.98 - 14.49
                                    2009       4.16                0.45         28.40 - 28.97
                                    2008       4.51                0.45     (30.60) - (30.39)

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

9. FINANCIAL HIGHLIGHTS -- (CONTINUED)                                          

                                                        [Enlarge/Download Table]

                                                        AS OF DECEMBER 31                    
                                           ---------------------------------------------     
                                                            UNIT VALUE                       
                                                             LOWEST TO          NET          
                                               UNITS        HIGHEST ($)     ASSETS ($)       
                                           -----------   ----------------  -------------     
                                                                                             
Fidelity VIP Freedom 2030            2012        3,939              10.87         42,834     
   Investment Division               2011        6,028       9.45 - 13.00         56,970     
   (Commenced 4/28/2008)             2010        9,011       9.75 - 13.35        108,191     
                                     2009        3,665       8.43 - 11.50         31,738     
                                     2008        3,324        6.43 - 8.74         21,387     

Fidelity VIP Freedom 2050            2012        1,468              12.12         17,799     
   Investment Division               2011        1,492              10.34         15,438     
   (Commenced 5/4/2009 and began                                                             
   transactions in 2011)                                                                     

Fidelity VIP High Income             2012        8,955              18.44        165,146     
   Investment Division               2011        2,677              16.14         43,223     
   (Commenced 4/28/2008 and began    2010          294              15.52          4,565     
   transactions in 2009)             2009        3,001              13.63         40,915     

Fidelity VIP Investment Grade Bond   2012      144,729              15.79      2,285,792     
   Investment Division               2011      117,053              14.93      1,747,852     
                                     2010       38,436              13.93        535,344     
                                     2009       18,087              12.93        233,950     
                                     2008        3,908              11.18         43,701     

Fidelity VIP Mid Cap Investment      2012       26,557              28.20        748,919     
   Division (Commenced 4/28/2008)    2011       24,942              24.62        613,958     
                                     2010       16,733              27.61        462,031     
                                     2009       10,051              21.48        215,869     
                                     2008        2,071              15.37         31,825     

FTVIPT Mutual Global Discovery       2012       40,339              19.91        803,176     
   Securities Investment Division    2011       44,626              17.56        783,835     
                                     2010       53,444              18.10        967,332     
                                     2009       54,588              16.17        882,515     
                                     2008      140,006              13.11      1,835,518     

FTVIPT Templeton Foreign Securities  2012      225,312              17.59      3,962,470     
   Investment Division               2011      203,775              14.83      3,021,785     
                                     2010      558,309              16.56      9,244,694     
                                     2009      520,792              15.24      7,935,141     
                                     2008      527,866              11.09      5,856,168     

FTVIPT Templeton Global Bond         2012       18,556              23.82        442,101     
   Securities Investment Division    2011       14,004              20.66        289,345     
   (Commenced 5/4/2009)              2010          179              20.79          3,728     
                                     2009          204              18.12          3,704     

Goldman Sachs Mid-Cap Value          2012       15,625              16.52        258,154     
   Investment Division               2011       19,234              13.95        268,248     
                                     2010       24,643              14.90        367,089     
                                     2009       27,552              11.92        328,341     
                                     2008      102,102               8.95        913,808     


                                                    FOR THE YEAR ENDED DECEMBER 31           
                                           --------------------------------------------------
                                           INVESTMENT(1)  EXPENSE RATIO(2)    TOTAL RETURN(3)
                                              INCOME          LOWEST TO          LOWEST TO   
                                             RATIO (%)       HIGHEST (%)        HIGHEST (%)  
                                           -------------  ----------------  -----------------
                                                                                             
Fidelity VIP Freedom 2030            2012       1.84                0.00                15.06
   Investment Division               2011       1.97                0.00      (3.03) - (2.59)
   (Commenced 4/28/2008)             2010       2.42                0.00        15.56 - 16.08
                                     2009       2.47                0.45        31.07 - 31.66
                                     2008       6.89                0.45    (35.65) - (35.46)

Fidelity VIP Freedom 2050            2012       2.12                0.00                17.20
   Investment Division               2011       1.77                0.00               (5.36)
   (Commenced 5/4/2009 and began                                                             
   transactions in 2011)                                                                     

Fidelity VIP High Income             2012      14.49                0.00                14.23
   Investment Division               2011      37.24                0.00                 4.03
   (Commenced 4/28/2008 and began    2010       4.94                0.00                13.82
   transactions in 2009)             2009      26.74                0.00                43.96

Fidelity VIP Investment Grade Bond   2012       1.95                0.00                 5.77
   Investment Division               2011       4.67                0.00                 7.21
                                     2010       4.23                0.00                 7.68
                                     2009      10.75                0.00                15.67
                                     2008       1.19                0.00               (3.35)

Fidelity VIP Mid Cap Investment      2012       0.42                0.00                14.56
   Division (Commenced 4/28/2008)    2011       0.03                0.00              (10.85)
                                     2010       0.15                0.00                28.57
                                     2009       0.29                0.00                39.75
                                     2008       0.15                0.00              (46.25)

FTVIPT Mutual Global Discovery       2012       2.67                0.00                13.36
   Securities Investment Division    2011       2.31                0.00               (2.96)
                                     2010       1.39                0.00                11.96
                                     2009       0.75                0.00                23.31
                                     2008       2.51                0.00              (28.44)

FTVIPT Templeton Foreign Securities  2012       3.26                0.00                18.60
   Investment Division               2011       1.67                0.00              (10.44)
                                     2010       2.02                0.00                 8.67
                                     2009       3.61                0.00                37.34
                                     2008       2.58                0.00              (40.23)

FTVIPT Templeton Global Bond         2012       6.56                0.00                15.31
   Securities Investment Division    2011       3.79                0.00               (0.61)
   (Commenced 5/4/2009)              2010       0.20                0.00                14.71
                                     2009         --                0.00                95.55

Goldman Sachs Mid-Cap Value          2012       1.06                0.00                18.47
   Investment Division               2011       0.67                0.00               (6.37)
                                     2010       0.70                0.00                25.00
                                     2009       1.09                0.00                33.15
                                     2008       1.06                0.00              (37.33)

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

9. FINANCIAL HIGHLIGHTS -- (CONTINUED)                                          

                                                        [Enlarge/Download Table]

                                                       AS OF DECEMBER 31                     
                                          ---------------------------------------------      
                                                           UNIT VALUE                        
                                                            LOWEST TO          NET           
                                              UNITS        HIGHEST ($)     ASSETS ($)        
                                          -----------   ----------------  -------------      
                                                                                             
Goldman Sachs Structured Small Cap  2012        1,925              13.67         26,317      
   Equity Investment Division       2011        4,148              12.12         50,259      
                                    2010        4,258              12.04         51,252      
                                    2009        7,623               9.25         70,508      
                                    2008        6,818               7.24         49,396      

Invesco V.I. Global Real Estate     2012       73,934              35.37      2,614,736      
   Investment Division              2011       54,002              27.60      1,490,644      
                                    2010       54,093              29.53      1,597,111      
                                    2009       59,960              25.13      1,506,522      
                                    2008       76,172              19.10      1,455,085      

Invesco V.I. Government Securities  2012           22              13.99            311      
   Investment Division              2011        1,570              13.69         21,491      
   (Commenced 5/2/2011)                                                                      

Invesco V.I. International Growth   2012      314,797              20.67      6,506,152      
   Investment Division              2011        1,308              17.89         23,407      
   (Commenced 4/28/2008             2010       14,201              19.18        272,411      
   and began transactions in 2009)  2009        1,080              17.00         18,360      

Invesco V.I. Van Kampen Comstock    2012       18,847              12.59        237,306      
   Investment Division              2011       17,951              10.59        190,062      
   (Commenced 5/3/2010)             2010        2,966              10.82         32,084      

Janus Aspen Balanced Investment     2012       59,065              18.63      1,100,549      
   Division                         2011       81,522              16.43      1,339,788      
                                    2010      155,834              16.22      2,526,859      
                                    2009       99,381              15.00      1,490,464      
                                    2008       20,633              11.94        246,409      

Janus Aspen Forty Investment        2012       46,505              19.09        887,847      
   Division                         2011       45,616              15.41        703,136      
                                    2010       73,218              16.56      1,212,768      
                                    2009       61,130              15.56        950,941      
                                    2008       45,182              10.65        475,295      

Janus Aspen Janus Investment        2012       81,921              11.86        971,677      
   Division                         2011       85,791              10.00        858,094      
                                    2010      741,523              10.56      7,832,002      
                                    2009      718,894               9.22      6,630,451      
                                    2008      685,791               6.76      4,638,873      

Janus Aspen Overseas Investment     2012       17,627              25.07        441,942      
   Division (Commenced 4/28/2008)   2011       15,536              22.15        344,135      
                                    2010       11,481              32.74        375,851      
                                    2009        3,135              26.19         82,093      
                                    2008        1,777              14.62         25,984      

MFS VIT Global Equity Investment    2012        7,233              18.72        135,428      
   Division                         2011          356              15.23          5,414      
                                    2010       14,222              15.95        226,794      
                                    2009        5,543              14.23         78,884      
                                    2008        5,386              10.80         58,159      


                                                   FOR THE YEAR ENDED DECEMBER 31            
                                          ---------------------------------------------------
                                          INVESTMENT(1)  EXPENSE RATIO(2)    TOTAL RETURN(3) 
                                             INCOME          LOWEST TO          LOWEST TO    
                                            RATIO (%)       HIGHEST (%)        HIGHEST (%)   
                                          -------------  ----------------   -----------------
                                                                                             
Goldman Sachs Structured Small Cap  2012       1.02                0.00                 12.83
   Equity Investment Division       2011       0.82                0.00                  0.67
                                    2010       0.57                0.00                 30.12
                                    2009       1.46                0.00                 27.67
                                    2008       0.66                0.00               (33.96)

Invesco V.I. Global Real Estate     2012       0.56                0.00                 28.12
   Investment Division              2011       4.08                0.00                (6.51)
                                    2010       5.17                0.00                 17.51
                                    2009         --                0.00                 31.53
                                    2008       5.47                0.00               (44.65)

Invesco V.I. Government Securities  2012         --                0.00                 10.11
   Investment Division              2011         --                0.00                  7.73
   (Commenced 5/2/2011)                                                                      

Invesco V.I. International Growth   2012       1.58                0.00                 15.53
   Investment Division              2011       1.52                0.00                (6.74)
   (Commenced 4/28/2008             2010       2.40                0.00                 12.86
   and began transactions in 2009)  2009       1.38                0.00                 35.24

Invesco V.I. Van Kampen Comstock    2012       1.58                0.00                 18.92
   Investment Division              2011       0.44                0.00                (2.11)
   (Commenced 5/3/2010)             2010         --                0.00                 19.94

Janus Aspen Balanced Investment     2012       2.26                0.00                 13.37
   Division                         2011       2.04                0.00                  1.36
                                    2010       2.71                0.00                  8.12
                                    2009       2.93                0.00                 25.58
                                    2008       3.65                0.00               (16.08)

Janus Aspen Forty Investment        2012       0.56                0.00                 23.86
   Division                         2011       0.24                0.00                (6.94)
                                    2010       0.24                0.00                  6.48
                                    2009       0.01                0.00                 46.01
                                    2008       0.01                0.00               (44.31)

Janus Aspen Janus Investment        2012       0.56                0.00                 18.59
   Division                         2011       0.24                0.00                (5.30)
                                    2010       1.09                0.00                 14.52
                                    2009       0.54                0.00                 36.35
                                    2008       0.74                0.00               (39.71)

Janus Aspen Overseas Investment     2012       0.63                0.00                 13.18
   Division (Commenced 4/28/2008)   2011       0.10                0.00               (32.34)
                                    2010       0.73                0.00                 25.02
                                    2009       0.46                0.00                 79.07
                                    2008         --                0.00               (52.68)

MFS VIT Global Equity Investment    2012       0.22                0.00                 22.98
   Division                         2011       0.67                0.00                (4.53)
                                    2010       0.78                0.00                 12.05
                                    2009       2.04                0.00                 31.80
                                    2008       0.76                0.00               (33.95)

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

9. FINANCIAL HIGHLIGHTS -- (CONTINUED)                                          

                                                        [Enlarge/Download Table]

                                                       AS OF DECEMBER 31                      
                                         -----------------------------------------------      
                                                           UNIT VALUE                         
                                                            LOWEST TO           NET           
                                             UNITS         HIGHEST ($)      ASSETS ($)        
                                         ------------   -----------------  -------------      
                                                                                              
MFS VIT High Income Investment     2012         9,265               17.41        161,267      
   Division                        2011         8,896               15.21        135,311      
                                   2010         9,020               14.65        132,109      
                                   2009         9,209               12.80        117,897      
                                   2008           354                8.82          3,111      

MFS VIT New Discovery Investment   2012         9,204               18.68        171,983      
   Division                        2011         7,919               15.46        122,395      
                                   2010         7,814               17.27        134,923      
                                   2009           396               12.70          5,029      
                                   2008           249                7.80          1,942      

MFS VIT Value Investment Division  2012         1,049               16.36         17,162      
                                   2011         3,138               14.12         44,299      
                                   2010         5,577               14.18         79,095      
                                   2009         5,803               12.75         74,001      
                                   2008         6,081               10.41         63,334      

MIST AllianceBernstein Global      2012           656               10.82          7,098      
   Dynamic Allocation Investment                                                              
   Division (Commenced 4/30/2012)                                                             

MIST American Funds Balanced       2012        54,591               11.57        631,423      
   Allocation Investment Division  2011        50,766               10.16        515,995      
   (Commenced 4/28/2008)           2010        41,296               10.35        427,406      
                                   2009        23,102                9.21        212,728      
                                   2008         1,427                7.08         10,107      

MIST American Funds Growth         2012        84,318               10.99        926,978      
   Allocation Investment Division  2011        82,817                9.43        781,245      
   (Commenced 4/28/2008)           2010        71,574                9.87        706,300      
                                   2009        15,564                8.67        134,986      
                                   2008         2,439                6.45         15,747      

MIST American Funds Moderate       2012        49,584               11.85        587,686      
   Allocation Investment Division  2011        37,706               10.65        401,606      
   (Commenced 4/28/2008)           2010        23,584               10.60        250,094      
                                   2009         9,961                9.63         95,893      
                                   2008           593                7.77          4,607      

MIST AQR Global Risk Balanced      2012         2,358               10.51         24,784      
   Investment Division                                                                        
   (Commenced 4/30/2012)                                                                      

MIST BlackRock Global Tactical     2012         3,707               10.54         39,078      
   Strategies Investment Division                                                             
   (Commenced 4/30/2012)                                                                      

MIST BlackRock Large Cap Core      2012    11,913,338        9.54 - 41.30    307,558,825      
   Investment Division             2011    12,762,727        8.43 - 36.66    291,615,739      
                                   2010    13,468,383        8.42 - 36.79    309,489,536      
                                   2009    14,107,746        7.50 - 32.93    291,577,776      
                                   2008    14,670,780        6.31 - 27.82    258,799,279      


                                                   FOR THE YEAR ENDED DECEMBER 31             
                                         -----------------------------------------------------
                                         INVESTMENT(1)   EXPENSE RATIO(2)     TOTAL RETURN(3) 
                                            INCOME           LOWEST TO           LOWEST TO    
                                           RATIO (%)        HIGHEST (%)         HIGHEST (%)   
                                         -------------   ----------------   ------------------
                                                                                              
MFS VIT High Income Investment     2012       7.49                 0.00                  14.43
   Division                        2011       8.93                 0.00                   3.86
                                   2010       7.00                 0.00                  14.40
                                   2009       1.48                 0.00                  45.22
                                   2008      10.38                 0.00                (28.67)

MFS VIT New Discovery Investment   2012         --                 0.00                  20.90
   Division                        2011         --                 0.00                (10.49)
                                   2010         --                 0.00                  35.94
                                   2009         --                 0.00                  62.92
                                   2008         --                 0.00                (39.52)

MFS VIT Value Investment Division  2012       1.77                 0.00                  15.88
                                   2011       1.45                 0.00                 (0.47)
                                   2010       1.32                 0.00                  11.22
                                   2009       1.24                 0.00                  22.45
                                   2008       6.73                 0.00                (32.72)

MIST AllianceBernstein Global      2012         --                 0.00                   4.39
   Dynamic Allocation Investment                                                              
   Division (Commenced 4/30/2012)                                                             

MIST American Funds Balanced       2012       1.94                 0.00                  13.80
   Allocation Investment Division  2011       1.44                 0.00                 (1.80)
   (Commenced 4/28/2008)           2010       1.26                 0.00                  12.40
                                   2009         --                 0.00                  30.06
                                   2008       5.25                 0.00                (29.27)

MIST American Funds Growth         2012       1.55                 0.00                  16.54
   Allocation Investment Division  2011       1.38                 0.00                 (4.41)
   (Commenced 4/28/2008)           2010       0.62                 0.00                  13.78
                                   2009         --                 0.00                  34.36
                                   2008       8.38                 0.00                (35.51)

MIST American Funds Moderate       2012       2.15                 0.00                  11.28
   Allocation Investment Division  2011       1.66                 0.00                   0.44
   (Commenced 4/28/2008)           2010       1.38                 0.00                  10.15
                                   2009         --                 0.00                  23.90
                                   2008       6.80                 0.00                (22.46)

MIST AQR Global Risk Balanced      2012         --                 0.00                   4.63
   Investment Division                                                                        
   (Commenced 4/30/2012)                                                                      

MIST BlackRock Global Tactical     2012         --                 0.00                   4.21
   Strategies Investment Division                                                             
   (Commenced 4/30/2012)                                                                      

MIST BlackRock Large Cap Core      2012       1.21          0.00 - 0.90          12.66 - 13.68
   Investment Division             2011       1.12          0.00 - 0.90          (0.36) - 0.54
                                   2010       1.34          0.00 - 0.90          11.73 - 12.73
                                   2009       1.61          0.45 - 0.90          18.37 - 19.43
                                   2008       0.70          0.45 - 0.90      (37.68) - (31.87)

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

9. FINANCIAL HIGHLIGHTS -- (CONTINUED)                                          

                                                        [Enlarge/Download Table]

                                                         AS OF DECEMBER 31                     
                                            ---------------------------------------------      
                                                             UNIT VALUE                        
                                                              LOWEST TO          NET           
                                                UNITS        HIGHEST ($)     ASSETS ($)        
                                            -----------   ----------------  -------------      
                                                                                               
MIST Clarion Global Real Estate       2012    1,388,419      17.60 - 19.03     26,083,318      
   Investment Division                2011    1,311,823      14.06 - 15.06     19,560,387      
                                      2010    1,342,988      14.98 - 15.90     21,160,564      
                                      2009    1,332,507      13.00 - 13.68     18,066,465      
                                      2008    1,247,223       9.71 - 10.12     12,525,455      

MIST Dreman Small Cap Value           2012        2,300              16.76         38,553      
   Investment Division                2011        2,480              14.49         35,938      
   (Commenced 4/28/2008)              2010        1,705              16.12         27,489      
                                      2009        1,271              13.49         17,136      
                                      2008           11              10.45            120      

MIST Harris Oakmark International     2012    1,421,965      12.34 - 24.19     33,602,695      
   Investment Division                2011    1,483,192       9.53 - 18.68     27,216,742      
                                      2010    1,473,309      20.09 - 21.72     31,544,698      
                                      2009    1,439,875      17.38 - 18.61     26,459,351      
                                      2008    1,337,674      11.28 - 11.97     15,844,670      

MIST Invesco Balanced-Risk            2012        7,100               1.06          7,513      
   Allocation Investment Division                                                              
   (Commenced 4/30/2012)                                                                       

MIST Invesco Small Cap Growth         2012      245,733      17.38 - 21.67      4,616,668      
   Investment Division                2011      279,254      14.80 - 18.28      4,412,967      
                                      2010      280,254      15.06 - 18.44      4,469,898      
                                      2009      268,049      12.01 - 14.58      3,392,636      
                                      2008      230,618       9.03 - 10.86      2,187,257      

MIST Janus Forty Investment Division  2012    1,085,660     12.25 - 404.14     15,566,776      
                                      2011    1,093,634     10.07 - 329.01     12,484,277      
                                      2010    1,185,626     10.96 - 355.01     14,254,655      
                                      2009    1,122,196     10.08 - 323.68     12,100,411      
                                      2008      943,170      7.10 - 226.02      6,915,393      

MIST JPMorgan Global Active           2012       17,811               1.06         18,883      
   Allocation Investment Division                                                              
   (Commenced 4/30/2012)                                                                       

MIST Legg Mason ClearBridge           2012    1,313,742       9.48 - 11.14     14,226,385      
   Aggressive Growth Investment       2011    1,353,551        7.98 - 9.38     12,365,794      
   Division                           2010      888,257        7.56 - 9.05      7,832,576      
                                      2009      918,435        6.11 - 7.30      6,533,459      
                                      2008      929,444        4.59 - 5.47      4,956,827      

MIST Lord Abbett Bond Debenture       2012    1,063,203      23.01 - 34.98     28,515,095      
   Investment Division                2011    1,085,311      20.52 - 30.90     25,730,993      
                                      2010    1,222,207      19.75 - 29.48     27,673,730      
                                      2009    1,300,112      17.61 - 26.05     26,033,742      
                                      2008    1,205,110      12.96 - 19.00     17,548,678      

MIST Lord Abbett Mid Cap Value        2012    2,873,152      15.40 - 32.87     74,892,920      
   Investment Division                2011        9,000              13.43        120,858      
                                      2010        7,974              13.94        111,190      
                                      2009        9,319              11.11        103,521      
                                      2008       10,463               8.78         91,851      


                                                     FOR THE YEAR ENDED DECEMBER 31            
                                            ---------------------------------------------------
                                            INVESTMENT(1)  EXPENSE RATIO(2)    TOTAL RETURN(3) 
                                               INCOME          LOWEST TO          LOWEST TO    
                                              RATIO (%)       HIGHEST (%)        HIGHEST (%)   
                                            -------------  ----------------   -----------------
                                                                                               
MIST Clarion Global Real Estate       2012       2.22         0.00 - 0.90         25.16 - 26.30
   Investment Division                2011       4.03         0.00 - 0.90       (6.12) - (5.28)
                                      2010       8.28         0.00 - 0.90         15.24 - 16.28
                                      2009       3.50                0.90         33.91 - 35.12
                                      2008       2.00                0.90     (44.73) - (41.56)

MIST Dreman Small Cap Value           2012       0.95                0.00                 15.66
   Investment Division                2011       1.63                0.00               (10.12)
   (Commenced 4/28/2008)              2010       0.82                0.00                 19.53
                                      2009         --                0.00                 29.09
                                      2008         --                0.00               (25.08)

MIST Harris Oakmark International     2012       1.82         0.00 - 0.90         28.31 - 29.47
   Investment Division                2011       0.03         0.00 - 0.90     (14.75) - (13.98)
                                      2010       2.05         0.00 - 0.90         15.63 - 16.67
                                      2009       7.87                0.90         54.07 - 55.46
                                      2008       1.96                0.90     (41.26) - (37.26)

MIST Invesco Balanced-Risk            2012       0.66                0.00                  4.67
   Allocation Investment Division                                                              
   (Commenced 4/30/2012)                                                                       

MIST Invesco Small Cap Growth         2012         --         0.00 - 0.90         17.44 - 18.51
   Investment Division                2011         --         0.00 - 0.90       (1.73) - (0.85)
                                      2010         --         0.00 - 0.90         25.34 - 26.47
                                      2009         --                0.90         33.01 - 34.21
                                      2008         --                0.90     (38.73) - (34.43)

MIST Janus Forty Investment Division  2012       0.43         0.00 - 0.90         21.73 - 22.83
                                      2011       1.80         0.00 - 0.90       (8.16) - (7.32)
                                      2010       1.71         0.00 - 0.90           8.70 - 9.68
                                      2009         --                0.90         41.93 - 43.21
                                      2008       4.58                0.90     (44.68) - (41.84)

MIST JPMorgan Global Active           2012       1.08                0.00                  4.66
   Allocation Investment Division                                                              
   (Commenced 4/30/2012)                                                                       

MIST Legg Mason ClearBridge           2012       0.21         0.00 - 0.90          8.91 - 18.81
   Aggressive Growth Investment       2011       0.08         0.00 - 0.90         (8.33) - 3.56
   Division                           2010       0.06         0.00 - 0.90         22.94 - 24.05
                                      2009       0.12                0.90         32.26 - 33.45
                                      2008       0.01                0.90     (39.49) - (36.35)

MIST Lord Abbett Bond Debenture       2012       7.24         0.00 - 0.90         12.17 - 13.19
   Investment Division                2011       5.96         0.00 - 0.90           3.89 - 4.83
                                      2010       6.47         0.00 - 0.90         12.16 - 13.18
                                      2009       7.18         0.45 - 0.90         35.89 - 37.12
                                      2008       4.38         0.45 - 0.90     (19.13) - (18.40)

MIST Lord Abbett Mid Cap Value        2012         --         0.00 - 0.90           2.78 - 3.71
   Investment Division                2011       0.53                0.00                (3.69)
                                      2010       0.58                0.00                 25.53
                                      2009       2.10                0.00                 26.53
                                      2008       0.25                0.00               (38.78)

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

9. FINANCIAL HIGHLIGHTS -- (CONTINUED)                                          

                                                        [Enlarge/Download Table]

                                                       AS OF DECEMBER 31                      
                                         ----------------------------------------------       
                                                          UNIT VALUE                          
                                                           LOWEST TO           NET            
                                            UNITS         HIGHEST ($)      ASSETS ($)         
                                         -----------   -----------------  -------------       
                                                                                              
MIST Met/Franklin Income           2012       25,391               13.39        340,094       
   Investment Division             2011       19,993               11.88        237,483       
   (Commenced 4/28/2008)           2010       13,040               11.60        151,292       
                                   2009        5,364               10.35         55,505       
                                   2008        2,408                8.08         19,461       

MIST Met/Franklin Mutual Shares    2012       11,193               10.59        118,548       
   Investment Division             2011        8,617                9.27         79,913       
   (Commenced 4/28/2008)           2010        6,134                9.30         57,042       
                                   2009        2,904                8.36         24,280       
                                   2008        1,208                6.68          8,064       

MIST Met/Franklin Templeton        2012       27,629               11.60        320,390       
   Founding Strategy Investment    2011       27,693                9.96        275,812       
   Division (Commenced 4/28/2008)  2010       25,753               10.11        260,280       
                                   2009       21,298                9.16        195,055       
                                   2008        1,503                7.11         10,681       

MIST Met/Templeton Growth          2012        6,221               10.90         67,807       
   Investment Division             2011        6,014                8.90         53,526       
   (Commenced 4/28/2008)           2010        5,088                9.53         48,492       
                                   2009        2,173                8.83         19,197       
                                   2008          480                6.64          3,188       

MIST Met/Templeton International   2012          181               14.36          2,605       
   Bond Investment Division                                                                   
   (Commenced 4/30/2012)                                                                      

MIST MetLife Aggressive            2012    1,085,674      12.72 - 133.49     15,142,596       
   Strategy Investment Division    2011    1,049,786      10.97 - 114.35     12,472,661       
   (Commenced 5/2/2011)                                                                       

MIST MetLife Balanced Plus         2012        4,287               10.71         45,933       
   Investment Division                                                                        
   (Commenced 4/30/2012)                                                                      

MIST MFS Emerging Markets          2012        6,737               13.20         88,957       
   Equity Investment Division      2011        2,070               11.09         22,950       
   (Commenced 5/2/2011)                                                                       

MIST MFS Research International    2012      920,691       15.26 - 17.85     15,720,813       
   Investment Division             2011      820,338       13.07 - 15.26     12,176,899       
                                   2010      838,110       14.64 - 17.04     13,920,818       
                                   2009      885,756       13.14 - 15.26     13,178,754       
                                   2008      870,603        9.99 - 11.57      9,814,566       

MIST MLA Mid Cap Investment        2012      334,423       13.59 - 18.16      5,197,739       
   Division                        2011      358,406       12.90 - 17.20      5,277,678       
                                   2010      360,447       13.62 - 18.13      5,585,124       
                                   2009      362,314       11.09 - 14.71      4,569,758       
                                   2008      371,732        8.11 - 10.73      3,422,640       


                                                   FOR THE YEAR ENDED DECEMBER 31             
                                         -----------------------------------------------------
                                          INVESTMENT(1)  EXPENSE RATIO(2)     TOTAL RETURN(3) 
                                             INCOME          LOWEST TO           LOWEST TO    
                                            RATIO (%)       HIGHEST (%)         HIGHEST (%)   
                                         --------------  ----------------   ------------------
                                                                                              
MIST Met/Franklin Income           2012        4.65                0.00                  12.76
   Investment Division             2011        4.33                0.00                   2.39
   (Commenced 4/28/2008)           2010        3.26                0.00                  12.13
                                   2009          --                0.00                  28.05
                                   2008        4.29                0.00                (19.19)

MIST Met/Franklin Mutual Shares    2012        0.74                0.00                  14.20
   Investment Division             2011        2.90                0.00                 (0.27)
   (Commenced 4/28/2008)           2010          --                0.00                  11.23
                                   2009          --                0.00                  25.15
                                   2008        3.53                0.00                (33.20)

MIST Met/Franklin Templeton        2012        4.13                0.00                  16.43
   Founding Strategy Investment    2011        1.86                0.00                 (1.45)
   Division (Commenced 4/28/2008)  2010          --                0.00                  10.36
                                   2009          --                0.00                  28.84
                                   2008        7.79                0.00                (28.92)

MIST Met/Templeton Growth          2012        1.65                0.00                  22.48
   Investment Division             2011        1.44                0.00                 (6.61)
   (Commenced 4/28/2008)           2010        0.98                0.00                   7.88
                                   2009        0.02                0.00                  33.08
                                   2008        1.08                0.00                (33.62)

MIST Met/Templeton International   2012          --                0.00                   8.00
   Bond Investment Division                                                                   
   (Commenced 4/30/2012)                                                                      

MIST MetLife Aggressive            2012        0.85         0.00 - 0.90          (0.17) - 3.96
   Strategy Investment Division    2011          --         0.00 - 0.90      (13.94) - (10.95)
   (Commenced 5/2/2011)                                                                       

MIST MetLife Balanced Plus         2012          --                0.00                   5.63
   Investment Division                                                                        
   (Commenced 4/30/2012)                                                                      

MIST MFS Emerging Markets          2012        1.57                0.00                  19.10
   Equity Investment Division      2011          --                0.00                (22.19)
   (Commenced 5/2/2011)                                                                       

MIST MFS Research International    2012        2.10         0.00 - 0.90          15.92 - 16.97
   Investment Division             2011        2.07         0.00 - 0.90      (11.23) - (10.44)
                                   2010        1.89         0.00 - 0.90          10.65 - 11.65
                                   2009        3.35                0.90          30.75 - 31.93
                                   2008        2.06                0.90      (42.78) - (41.00)

MIST MLA Mid Cap Investment        2012        0.63         0.00 - 0.90            4.64 - 5.59
   Division                        2011        0.92         0.00 - 0.90        (5.98) - (5.13)
                                   2010        1.05         0.00 - 0.90          22.15 - 23.25
                                   2009        1.34                0.90          35.92 - 37.14
                                   2008        1.17                0.90      (38.70) - (36.07)

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

9. FINANCIAL HIGHLIGHTS -- (CONTINUED)                                          

                                                        [Enlarge/Download Table]

                                                        AS OF DECEMBER 31                      
                                          ----------------------------------------------       
                                                           UNIT VALUE                          
                                                            LOWEST TO           NET            
                                             UNITS         HIGHEST ($)      ASSETS ($)         
                                          -----------   -----------------  -------------       
                                                                                               
MIST Morgan Stanley Mid Cap         2012   11,831,703        6.82 - 19.14    186,491,111       
   Growth Investment Division       2011   12,356,734        6.22 - 17.47    178,350,417       
                                    2010   13,121,650        6.67 - 18.71    203,754,931       
                                    2009       23,317       13.14 - 14.13        306,427       
                                    2008        1,987         8.35 - 8.96         16,600       

MIST PIMCO Inflation Protected      2012      837,709       12.64 - 19.05     13,671,560       
   Bond Investment Division         2011      700,157       11.56 - 17.42     10,519,501       
                                    2010      653,613       12.97 - 15.63      8,812,538       
                                    2009      618,801       12.12 - 14.47      7,734,444       
                                    2008      523,888       10.33 - 12.23      5,523,166       

MIST PIMCO Total Return             2012    2,365,572       11.82 - 21.86     50,485,893       
   Investment Division              2011    2,427,091       10.79 - 19.95     47,131,879       
                                    2010    2,450,427       17.69 - 19.29     46,602,262       
                                    2009    2,378,221       16.46 - 17.80     41,820,317       
                                    2008    2,287,745       14.03 - 15.03     34,041,059       

MIST Pioneer Fund Investment        2012       13,454               14.47        194,664       
   Division (Commenced 5/4/2009)    2011       13,480               13.08        176,354       
                                    2010       17,938               13.71        245,860       
                                    2009       20,277               11.79        239,136       

MIST RCM Technology Investment      2012    1,716,827         7.43 - 8.25     13,932,280       
   Division                         2011    1,828,123         6.67 - 7.34     13,216,535       
                                    2010    2,007,835         7.46 - 8.14     16,113,886       
                                    2009    2,111,049         5.87 - 6.34     13,221,048       
                                    2008    1,806,845         3.72 - 3.99      7,121,496       

MIST Schroders Global Multi-Asset   2012        5,334                1.08          5,752       
   Investment Division                                                                         
   (Commenced 4/30/2012)                                                                       

MIST SSgA Growth and Income         2012      450,776       12.95 - 14.59      6,167,640       
   ETF Investment Division          2011      381,525       11.55 - 12.90      4,611,127       
                                    2010      320,284       11.51 - 12.74      3,818,907       
                                    2009      149,333       10.31 - 11.31      1,581,109       
                                    2008       39,742         8.33 - 9.05        336,449       

MIST SSgA Growth ETF Investment     2012      332,667       12.10 - 13.90      4,244,488       
   Division                         2011      299,115       10.59 - 12.05      3,309,518       
                                    2010      237,751       10.89 - 12.28      2,679,381       
                                    2009      181,473        9.61 - 10.74      1,789,007       
                                    2008       59,898         7.48 - 8.29        457,331       

MIST T. Rowe Price Large Cap Value  2012      112,114               11.78      1,320,515       
   Investment Division              2011      108,604                9.96      1,081,554       
                                    2010      601,441               10.35      6,224,061       
                                    2009      585,353                8.82      5,163,011       
                                    2008      569,914        7.43 - 48.32      4,235,811       

MIST T. Rowe Price Mid Cap Growth   2012    1,544,904       12.50 - 20.49     21,145,655       
   Investment Division              2011    1,957,835       11.07 - 18.03     25,204,627       
                                    2010    1,725,748       11.33 - 18.33     21,234,908       
                                    2009    1,754,850        8.93 - 14.35     16,772,681       
                                    2008    1,702,757         6.18 - 9.87     11,162,717       


                                                    FOR THE YEAR ENDED DECEMBER 31             
                                          -----------------------------------------------------
                                           INVESTMENT(1)  EXPENSE RATIO(2)     TOTAL RETURN(3) 
                                              INCOME          LOWEST TO           LOWEST TO    
                                             RATIO (%)       HIGHEST (%)         HIGHEST (%)   
                                          --------------  ----------------   ------------------
                                                                                               
MIST Morgan Stanley Mid Cap         2012          --         0.00 - 0.90            8.57 - 9.55
   Growth Investment Division       2011        0.73         0.00 - 0.90        (7.50) - (6.67)
                                    2010          --         0.00 - 0.90          17.91 - 32.19
                                    2009          --                0.00          57.27 - 57.83
                                    2008        1.36                0.00      (46.77) - (43.85)

MIST PIMCO Inflation Protected      2012        3.14         0.00 - 0.90           8.34 - 20.51
   Bond Investment Division         2011        1.74         0.00 - 0.90          10.23 - 11.49
                                    2010        2.54         0.00 - 0.90            7.04 - 8.00
                                    2009        3.75                0.90          17.31 - 18.37
                                    2008        3.28                0.90        (9.73) - (6.61)

MIST PIMCO Total Return             2012        3.30         0.00 - 0.90            8.57 - 9.56
   Investment Division              2011        2.84         0.00 - 0.90            2.50 - 3.42
                                    2010        3.66         0.00 - 0.90            7.44 - 8.41
                                    2009        7.36                0.90          17.33 - 18.39
                                    2008        3.92                0.90          (1.28) - 0.61

MIST Pioneer Fund Investment        2012        1.53                0.00                  10.59
   Division (Commenced 5/4/2009)    2011        1.21                0.00                 (4.55)
                                    2010        0.90                0.00                  17.93
                                    2009          --                0.00                  17.93

MIST RCM Technology Investment      2012          --         0.00 - 0.90          11.42 - 12.43
   Division                         2011          --         0.00 - 0.90       (10.60) - (9.79)
                                    2010          --         0.00 - 0.90          27.12 - 28.27
                                    2009          --                0.90          57.74 - 59.17
                                    2008       13.07                0.90      (44.79) - (37.82)

MIST Schroders Global Multi-Asset   2012        1.48                0.00                   6.68
   Investment Division                                                                         
   (Commenced 4/30/2012)                                                                       

MIST SSgA Growth and Income         2012        2.40         0.00 - 0.90          12.09 - 13.11
   ETF Investment Division          2011        1.79         0.00 - 0.90            0.37 - 1.28
                                    2010        1.29         0.00 - 0.90          11.60 - 12.61
                                    2009        1.61                0.90          23.84 - 24.96
                                    2008        1.95                0.90      (25.54) - (23.99)

MIST SSgA Growth ETF Investment     2012        2.07         0.00 - 0.90          14.28 - 15.32
   Division                         2011        1.76         0.00 - 0.90        (2.75) - (1.86)
                                    2010        1.57         0.00 - 0.90          13.35 - 14.37
                                    2009        1.53                0.90          28.34 - 29.51
                                    2008        1.65                0.90      (33.42) - (30.82)

MIST T. Rowe Price Large Cap Value  2012        1.62                0.00                  18.27
   Investment Division              2011        0.51                0.00                 (3.77)
                                    2010        1.22                0.00                  17.33
                                    2009        2.45                0.00                  18.67
                                    2008        1.80                0.00      (36.20) - (32.76)

MIST T. Rowe Price Mid Cap Growth   2012          --         0.00 - 0.90          12.90 - 13.93
   Investment Division              2011          --         0.00 - 0.90        (2.28) - (1.39)
                                    2010          --         0.00 - 0.90          26.93 - 28.07
                                    2009          --                0.90          44.54 - 45.85
                                    2008        0.07                0.90      (40.16) - (37.28)

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

9. FINANCIAL HIGHLIGHTS -- (CONTINUED)                                          

                                                        [Enlarge/Download Table]

                                                       AS OF DECEMBER 31                    
                                        -----------------------------------------------     
                                                          UNIT VALUE                        
                                                           LOWEST TO           NET          
                                            UNITS         HIGHEST ($)      ASSETS ($)       
                                        ------------   ----------------   -------------     
                                                                                            
MIST Third Avenue Small Cap Value  2012       50,513              17.46         881,737     
   Investment Division             2011       54,483              14.79         806,051     
                                   2010       96,930              16.25       1,575,589     
                                   2009       66,457              13.56         900,994     
                                   2008       22,742              10.72         243,831     

MSF Baillie Gifford International  2012    2,785,901      11.92 - 17.95      40,399,665     
   Stock Investment Division       2011    2,947,427      10.02 - 15.01      35,919,561     
                                   2010    2,985,340      12.56 - 18.74      45,766,876     
                                   2009    3,130,833      11.77 - 17.48      45,163,862     
                                   2008    3,272,041       9.71 - 14.31      38,994,328     

MSF Barclays Capital Aggregate     2012    5,528,875      18.38 - 21.34     116,415,557     
   Bond Index Investment Division  2011    5,367,889      17.85 - 20.54     108,763,587     
                                   2010    6,069,208      16.75 - 19.11     114,484,755     
                                   2009    5,979,612      15.94 - 18.02     106,351,639     
                                   2008    5,705,639      15.30 - 17.13      96,524,738     

MSF BlackRock Aggressive Growth    2012    8,053,406      18.55 - 70.35     190,699,476     
   Investment Division             2011    8,613,267      16.80 - 63.39     184,990,795     
                                   2010    9,010,506      17.39 - 65.35     200,141,525     
                                   2009    9,655,662      15.15 - 56.68     187,532,635     
                                   2008   10,226,808      10.19 - 37.93     134,277,037     

MSF BlackRock Bond Income          2012    3,286,524      20.08 - 95.09      85,513,325     
   Investment Division             2011    3,448,815      18.67 - 88.42      84,065,205     
                                   2010    3,695,898      17.52 - 82.97      84,862,836     
                                   2009    3,849,026      16.17 - 76.59      82,419,233     
                                   2008    4,137,787      14.77 - 69.96      81,985,350     

MSF BlackRock Diversified          2012    9,597,280      17.41 - 70.46     266,981,783     
   Investment Division             2011   10,223,668      15.50 - 62.70     255,554,192     
                                   2010   10,826,228      14.93 - 60.41     263,102,316     
                                   2009   11,480,151      13.61 - 55.09     257,391,816     
                                   2008   12,136,197      11.61 - 46.97     235,715,981     

MSF BlackRock Large Cap Value      2012      972,398      13.53 - 14.89      14,290,950     
   Investment Division             2011    1,036,664      11.95 - 13.03      13,313,052     
                                   2010    1,026,360      11.78 - 12.73      12,899,137     
                                   2009    1,018,697      10.88 - 11.66      11,723,889     
                                   2008      924,995       9.87 - 10.48       9,571,372     

MSF BlackRock Legacy Large Cap     2012    1,083,757      10.67 - 42.95      14,012,099     
   Growth Investment Division      2011      533,802       9.33 - 37.56       7,367,810     
                                   2010      494,998      10.25 - 41.25       7,322,523     
                                   2009      480,438       8.55 - 34.42       5,950,495     
                                   2008      413,693       6.25 - 25.16       3,786,888     

MSF BlackRock Money Market         2012    1,306,002      17.35 - 17.98      23,274,454     
   Investment Division             2011    1,163,332      17.51 - 17.98      20,783,208     
                                   2010    1,663,896      17.66 - 17.98      29,818,336     
                                   2009    1,962,757      17.82 - 17.98      35,228,518     
                                   2008    3,533,477      17.90 - 17.91      63,265,014     


                                                  FOR THE YEAR ENDED DECEMBER 31            
                                        ----------------------------------------------------
                                        INVESTMENT(1)   EXPENSE RATIO(2)     TOTAL RETURN(3)
                                           INCOME           LOWEST TO           LOWEST TO   
                                          RATIO (%)        HIGHEST (%)         HIGHEST (%)  
                                        -------------   ----------------   -----------------
                                                                                            
MIST Third Avenue Small Cap Value  2012        --                 0.00                 17.99
   Investment Division             2011      0.92                 0.00                (8.98)
                                   2010      1.05                 0.00                 19.90
                                   2009      0.62                 0.00                 26.45
                                   2008      0.70                 0.00               (29.73)

MSF Baillie Gifford International  2012      1.37          0.00 - 0.90         18.44 - 19.52
   Stock Investment Division       2011      1.77          0.00 - 0.90     (20.59) - (19.87)
                                   2010      1.57          0.00 - 0.90           6.25 - 7.21
                                   2009      0.71          0.45 - 0.90         21.07 - 22.17
                                   2008      3.13          0.45 - 0.90     (44.63) - (40.37)

MSF Barclays Capital Aggregate     2012      3.71          0.00 - 0.90           2.97 - 3.90
   Bond Index Investment Division  2011      3.52          0.00 - 0.90           6.55 - 7.51
                                   2010      3.72          0.00 - 0.90           5.10 - 6.05
                                   2009      5.95          0.45 - 0.90           4.22 - 5.17
                                   2008      4.55          0.45 - 0.90           4.32 - 5.99

MSF BlackRock Aggressive Growth    2012        --          0.00 - 0.90          9.98 - 10.97
   Investment Division             2011      0.30          0.00 - 0.90       (3.87) - (3.00)
                                   2010      0.07          0.00 - 0.90         14.27 - 15.30
                                   2009      0.20          0.45 - 0.90         48.10 - 49.44
                                   2008        --          0.45 - 0.90     (46.22) - (44.59)

MSF BlackRock Bond Income          2012      2.69          0.00 - 0.90           6.58 - 7.55
   Investment Division             2011      3.92          0.00 - 0.90           5.61 - 6.56
                                   2010      3.95          0.00 - 0.90           7.37 - 8.34
                                   2009      7.04          0.45 - 0.90           8.49 - 9.47
                                   2008      5.16          0.45 - 0.90       (4.31) - (3.43)

MSF BlackRock Diversified          2012      2.28          0.00 - 0.90         11.36 - 12.38
   Investment Division             2011      2.43          0.00 - 0.90           2.87 - 3.81
                                   2010      1.90          0.00 - 0.90           8.67 - 9.65
                                   2009      5.15          0.45 - 0.90         16.25 - 17.30
                                   2008      2.81          0.45 - 0.90     (25.47) - (20.65)

MSF BlackRock Large Cap Value      2012      1.63          0.00 - 0.90         13.25 - 14.28
   Investment Division             2011      1.11          0.00 - 0.90           1.43 - 2.35
                                   2010      1.05          0.00 - 0.90           8.24 - 9.22
                                   2009      1.58                 0.90         10.22 - 11.21
                                   2008      0.82                 0.90     (35.46) - (30.94)

MSF BlackRock Legacy Large Cap     2012      0.31          0.00 - 0.90         13.34 - 14.37
   Growth Investment Division      2011      0.19          0.00 - 0.90       (9.76) - (8.94)
                                   2010      0.23          0.00 - 0.90         18.75 - 19.82
                                   2009      0.62                 0.90         35.56 - 36.79
                                   2008      0.43                 0.90     (37.07) - (34.56)

MSF BlackRock Money Market         2012        --          0.00 - 0.90         (0.90) - 0.00
   Investment Division             2011        --          0.00 - 0.90         (0.89) - 0.00
                                   2010      0.01          0.00 - 0.90         (0.89) - 0.01
                                   2009      0.45                 0.90         (0.48) - 0.42
                                   2008      2.81                 0.90           1.92 - 2.84

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

9. FINANCIAL HIGHLIGHTS -- (CONTINUED)                                          

                                                        [Enlarge/Download Table]

                                                        AS OF DECEMBER 31                    
                                         -----------------------------------------------     
                                                           UNIT VALUE                        
                                                            LOWEST TO           NET          
                                             UNITS         HIGHEST ($)      ASSETS ($)       
                                          -----------   -----------------  -------------     
                                                                                             
MSF Davis Venture Value Investment  2012    1,511,861       14.11 - 46.62     58,219,352     
   Division                         2011    1,569,723       12.50 - 41.31     53,650,792     
                                    2010    1,632,869       13.03 - 43.04     57,910,618     
                                    2009    1,661,533       11.63 - 38.43     52,773,242     
                                    2008    1,580,625        8.81 - 29.12     38,001,762     

MSF FI Value Leaders Investment     2012      469,261       11.38 - 37.48      6,748,157     
   Division                         2011      489,548        9.83 - 32.38      6,065,829     
                                    2010      493,819       10.47 - 34.50      6,488,932     
                                    2009      478,934        9.14 - 30.11      5,481,161     
                                    2008      451,406        7.50 - 24.71      4,225,438     

MSF Jennison Growth Investment      2012    1,151,518        7.50 - 16.55     17,774,611     
   Division                         2011    1,066,474        6.47 - 14.29     14,166,486     
                                    2010    1,234,658        6.44 - 14.22     15,408,401     
                                    2009    1,148,604        5.77 - 12.74     13,473,347     
                                    2008    1,170,101         4.12 - 9.10      9,813,769     

MSF Loomis Sayles Small Cap Core    2012       88,479      18.49 - 409.49     18,836,597     
   Investment Division              2011       95,949      16.14 - 357.46     17,443,984     
                                    2010      115,539      16.04 - 355.36     18,282,784     
                                    2009      116,312      12.58 - 278.66     14,825,414     
                                    2008      116,157       9.66 - 213.94     11,034,259     

MSF Loomis Sayles Small Cap         2012      569,420       12.93 - 14.36      8,095,037     
   Growth Investment Division       2011      639,754       11.74 - 12.92      8,179,779     
                                    2010      597,616       11.50 - 12.54      7,430,441     
                                    2009      592,149         8.22 - 9.52      5,593,368     
                                    2008      579,322         5.93 - 7.33      4,206,928     

MSF Met/Artisan Mid Cap Value       2012      188,777      20.91 - 299.35     50,145,783     
   Investment Division              2011      187,483      18.74 - 267.60     47,188,989     
                                    2010      222,836      17.60 - 250.67     46,601,141     
                                    2009      191,339      35.18 - 217.89     41,071,915     
                                    2008      196,801      24.85 - 153.92     29,975,616     

MSF MetLife Conservative            2012      330,868      14.29 - 150.19      5,385,935     
   Allocation Investment Division   2011      293,962      13.17 - 137.56      4,371,255     
                                    2010      281,025      12.84 - 133.23      4,036,496     
                                    2009      179,332      11.74 - 121.06      2,188,237     
                                    2008      133,696        9.82 - 10.14      1,350,130     

MSF MetLife Conservative to         2012      548,694      14.12 - 148.28      8,676,630     
   Moderate Allocation Investment   2011      491,119      12.75 - 133.03      6,564,562     
   Division                         2010      523,187      12.70 - 131.65      6,925,701     
                                    2009      443,689      11.47 - 118.05      5,262,543     
                                    2008      336,506         9.33 - 9.64      3,218,477     

MSF MetLife Mid Cap Stock Index     2012    2,971,386       21.35 - 23.88     69,807,817     
   Investment Division              2011    3,140,839       18.32 - 20.31     62,847,615     
                                    2010    3,223,737       18.84 - 20.70     65,796,062     
                                    2009    3,313,158       14.93 - 16.39     53,691,851     
                                    2008    3,450,115       10.90 - 11.97     40,733,135     


                                                   FOR THE YEAR ENDED DECEMBER 31            
                                         ----------------------------------------------------
                                          INVESTMENT(1)  EXPENSE RATIO(2)     TOTAL RETURN(3)
                                             INCOME          LOWEST TO           LOWEST TO   
                                            RATIO (%)       HIGHEST (%)         HIGHEST (%)  
                                         --------------  ----------------   -----------------
                                                                                             
MSF Davis Venture Value Investment  2012       0.83         0.00 - 0.90         11.85 - 12.86
   Division                         2011       1.15         0.00 - 0.90       (4.89) - (4.03)
                                    2010       1.00         0.00 - 0.90         11.00 - 12.00
                                    2009       1.57                0.90         30.80 - 31.99
                                    2008       1.34                0.90     (39.89) - (37.59)

MSF FI Value Leaders Investment     2012       1.21         0.00 - 0.90         14.72 - 15.77
   Division                         2011       1.10         0.00 - 0.90       (6.99) - (6.15)
                                    2010       1.56         0.00 - 0.90         13.54 - 14.56
                                    2009       2.80                0.90         20.75 - 21.85
                                    2008       1.93                0.90     (39.49) - (34.25)

MSF Jennison Growth Investment      2012       0.22         0.00 - 0.90         14.74 - 15.78
   Division                         2011       0.28         0.00 - 0.90         (0.39) - 0.51
                                    2010       0.59         0.00 - 0.90         10.63 - 11.66
                                    2009       0.19                0.90         38.73 - 39.99
                                    2008       2.43                0.90     (37.00) - (26.98)

MSF Loomis Sayles Small Cap Core    2012         --         0.00 - 0.90         13.52 - 14.55
   Investment Division              2011       0.11         0.00 - 0.90         (0.31) - 0.59
                                    2010       0.09         0.00 - 0.90         26.38 - 27.53
                                    2009       0.28                0.90         29.08 - 30.25
                                    2008         --                0.90     (36.47) - (30.05)

MSF Loomis Sayles Small Cap         2012         --         0.00 - 0.90         10.19 - 11.19
   Growth Investment Division       2011         --         0.00 - 0.90           2.06 - 2.98
                                    2010         --         0.00 - 0.90         30.53 - 31.71
                                    2009         --                0.90         28.77 - 38.63
                                    2008         --                0.90     (41.67) - (36.32)

MSF Met/Artisan Mid Cap Value       2012       0.99         0.00 - 0.90         10.86 - 11.86
   Investment Division              2011       0.95         0.00 - 0.90           5.80 - 6.76
                                    2010       0.74         0.00 - 0.90          7.99 - 15.04
                                    2009       1.13                0.90         40.30 - 41.56
                                    2008       0.37                0.90     (46.49) - (42.81)

MSF MetLife Conservative            2012       2.97         0.00 - 0.90           8.50 - 9.49
   Allocation Investment Division   2011       2.46         0.00 - 0.90           2.55 - 3.48
                                    2010       3.52         0.00 - 0.90          9.35 - 10.34
                                    2009       3.20                0.90         19.65 - 20.73
                                    2008       1.41                0.90     (14.87) - (13.89)

MSF MetLife Conservative to         2012       2.88         0.00 - 0.90         10.73 - 11.74
   Moderate Allocation Investment   2011       2.28         0.00 - 0.90           0.37 - 1.28
   Division                         2010       3.39         0.00 - 0.90         10.78 - 11.78
                                    2009       3.27                0.90         22.89 - 24.00
                                    2008       1.34                0.90     (22.11) - (20.23)

MSF MetLife Mid Cap Stock Index     2012       0.99         0.00 - 0.90         16.54 - 17.60
   Investment Division              2011       0.90         0.00 - 0.90       (2.77) - (1.89)
                                    2010       0.99         0.00 - 0.90         25.15 - 26.28
                                    2009       1.81                0.90         35.77 - 36.99
                                    2008       1.41                0.90     (36.75) - (35.42)

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

9. FINANCIAL HIGHLIGHTS -- (CONTINUED)                                          

                                                        [Enlarge/Download Table]

                                                         AS OF DECEMBER 31                     
                                          -----------------------------------------------      
                                                            UNIT VALUE                         
                                                             LOWEST TO            NET          
                                              UNITS         HIGHEST ($)       ASSETS ($)       
                                          ------------   -----------------  -------------      
                                                                                               
MSF MetLife Moderate Allocation     2012     3,085,848      13.74 - 144.51     45,401,738      
   Investment Division              2011     3,050,810      12.22 - 127.62     39,588,309      
                                    2010     2,825,563      12.48 - 129.39     37,214,331      
                                    2009     2,488,914      11.09 - 114.33     28,790,175      
                                    2008     2,031,439        8.82 - 90.36     18,535,109      

MSF MetLife Moderate to Aggressive  2012     5,433,641       13.34 - 14.29     77,039,719      
   Allocation Investment Division   2011     5,400,236       11.62 - 12.34     66,170,247      
                                    2010     5,118,269      12.16 - 126.24     65,064,069      
                                    2009     4,732,679      10.68 - 110.06     52,449,221      
                                    2008     3,956,910         8.33 - 8.61     33,871,944      

MSF MetLife Stock Index Investment  2012    35,058,600       14.48 - 64.83    739,806,231      
   Division                         2011    36,301,700       12.50 - 56.01    668,626,167      
                                    2010    36,664,506       12.28 - 55.00    671,751,965      
                                    2009    36,924,505       10.69 - 47.90    597,707,546      
                                    2008    36,120,853        8.47 - 37.94    472,610,929      

MSF MFS Total Return Investment     2012       523,594       14.32 - 75.73      8,143,436      
   Division                         2011       528,477       12.95 - 67.87      7,362,338      
                                    2010       568,106       12.76 - 66.27      7,708,272      
                                    2009       580,613       11.70 - 60.20      7,134,157      
                                    2008       469,855        9.95 - 50.76      4,861,537      

MSF MFS Value Investment Division   2012     3,634,888       14.55 - 21.23     57,891,425      
                                    2011     3,828,828       12.53 - 18.20     52,363,369      
                                    2010     3,975,344       12.48 - 18.04     54,052,850      
                                    2009     4,056,273       11.25 - 16.19     49,365,491      
                                    2008     4,061,727        9.35 - 13.40     41,012,912      

MSF MSCI EAFE Index Investment      2012     4,738,737       11.42 - 16.34     68,221,885      
   Division                         2011     4,910,651        9.74 - 13.81     59,759,550      
                                    2010     4,717,340       11.23 - 15.78     65,367,829      
                                    2009     4,618,467       10.47 - 14.59     58,913,857      
                                    2008     4,548,869        8.21 - 11.34     44,991,420      

MSF Neuberger Berman Genesis        2012     3,701,342       20.16 - 22.55     82,409,606      
   Investment Division              2011     3,915,596       18.49 - 20.50     79,279,066      
                                    2010     4,111,864       17.63 - 19.37     78,718,096      
                                    2009     4,279,459       14.59 - 15.93     67,433,059      
                                    2008     4,285,033       12.90 - 14.08     59,706,219      

MSF Oppenheimer Global Equity       2012     1,769,256       22.75 - 26.22     41,848,339      
   Investment Division              2011     1,918,512       18.89 - 21.58     37,497,219      
                                    2010     2,044,692       20.77 - 23.52     43,706,570      
                                    2009     2,111,250       18.03 - 20.23     38,882,417      
                                    2008     2,250,790       12.94 - 14.42     29,644,684      

MSF Russell 2000 Index Investment   2012     2,492,581       16.83 - 24.76     55,930,600      
   Division                         2011     2,653,125       14.59 - 21.28     51,171,784      
                                    2010     2,808,600       15.35 - 22.19     56,596,227      
                                    2009     2,972,133       12.21 - 17.49     47,243,288      
                                    2008     2,979,566        9.77 - 13.88     37,446,370      


                                                    FOR THE YEAR ENDED DECEMBER 31             
                                          -----------------------------------------------------
                                          INVESTMENT(1)   EXPENSE RATIO(2)     TOTAL RETURN(3) 
                                             INCOME           LOWEST TO           LOWEST TO    
                                            RATIO (%)        HIGHEST (%)         HIGHEST (%)   
                                          -------------   ----------------    -----------------
                                                                                               
MSF MetLife Moderate Allocation     2012       2.48          0.00 - 0.90          12.45 - 13.47
   Investment Division              2011       1.72          0.00 - 0.90        (2.02) - (1.14)
                                    2010       2.69          0.00 - 0.90          12.45 - 13.47
                                    2009       3.09                 0.90          25.71 - 26.84
                                    2008       1.08                 0.90      (29.06) - (26.51)

MSF MetLife Moderate to Aggressive  2012       2.10          0.00 - 0.90          14.77 - 15.82
   Allocation Investment Division   2011       1.59          0.00 - 0.90        (4.42) - (3.55)
                                    2010       2.27          0.00 - 0.90          13.86 - 14.89
                                    2009       2.75                 0.90          28.27 - 29.43
                                    2008       0.84                 0.90      (35.55) - (32.36)

MSF MetLife Stock Index Investment  2012       1.76          0.00 - 0.90          14.72 - 15.76
   Division                         2011       1.66          0.00 - 0.90            0.93 - 1.84
                                    2010       1.75          0.00 - 0.90          13.79 - 14.82
                                    2009       2.70          0.45 - 0.90          25.11 - 26.26
                                    2008       1.94          0.45 - 0.90      (37.67) - (34.22)

MSF MFS Total Return Investment     2012       2.81          0.00 - 0.90          10.58 - 11.58
   Division                         2011       2.71          0.00 - 0.90            1.50 - 2.42
                                    2010       3.01          0.00 - 0.90           9.09 - 10.08
                                    2009       4.19                 0.90          17.54 - 18.60
                                    2008       3.50                 0.90      (22.84) - (20.13)

MSF MFS Value Investment Division   2012       1.92          0.00 - 0.90          15.60 - 16.65
                                    2011       1.56          0.00 - 0.90          (0.05) - 0.85
                                    2010       1.43          0.00 - 0.90          10.43 - 11.42
                                    2009         --          0.45 - 0.90          19.74 - 20.82
                                    2008       1.91          0.45 - 0.90      (34.05) - (17.37)

MSF MSCI EAFE Index Investment      2012       3.07          0.00 - 0.90          17.26 - 18.33
   Division                         2011       2.43          0.00 - 0.90      (13.28) - (12.50)
                                    2010       2.68          0.00 - 0.90            7.22 - 8.19
                                    2009       4.28          0.45 - 0.90          27.52 - 28.67
                                    2008       2.87          0.45 - 0.90      (42.58) - (40.15)

MSF Neuberger Berman Genesis        2012       0.37          0.00 - 0.90           9.04 - 10.03
   Investment Division              2011       0.74          0.00 - 0.90            4.85 - 5.80
                                    2010       0.51          0.00 - 0.90          20.49 - 21.58
                                    2009       1.12                 0.90          12.14 - 13.15
                                    2008       0.54                 0.90      (38.96) - (35.81)

MSF Oppenheimer Global Equity       2012       1.64          0.00 - 0.90          20.42 - 21.52
   Investment Division              2011       1.98          0.00 - 0.90        (9.05) - (8.24)
                                    2010       1.54          0.00 - 0.90          15.19 - 16.23
                                    2009       2.57          0.45 - 0.90          39.06 - 40.31
                                    2008       2.15          0.45 - 0.90      (40.90) - (37.34)

MSF Russell 2000 Index Investment   2012       1.15          0.00 - 0.90          15.30 - 16.35
   Division                         2011       1.05          0.00 - 0.90        (4.96) - (4.10)
                                    2010       1.10          0.00 - 0.90          25.78 - 26.92
                                    2009       2.05          0.45 - 0.90          24.88 - 26.01
                                    2008       1.26          0.45 - 0.90      (34.09) - (30.11)

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONTINUED)    

9. FINANCIAL HIGHLIGHTS -- (CONTINUED)                                          

                                                        [Enlarge/Download Table]

                                                      AS OF DECEMBER 31                   
                                          -------------------------------------------     
                                                          UNIT VALUE                      
                                                           LOWEST TO          NET         
                                             UNITS        HIGHEST ($)     ASSETS ($)      
                                          -----------   ---------------  ------------     
                                                                                          
MSF T. Rowe Price Large Cap Growth  2012    2,902,055     12.65 - 20.21    49,402,465     
   Investment Division              2011    2,954,760     10.73 - 16.99    42,317,336     
                                    2010    3,148,378     10.95 - 17.18    45,775,087     
                                    2009    3,409,767      9.44 - 14.68    42,520,597     
                                    2008    3,522,287      6.64 - 10.23    30,702,575     

MSF T. Rowe Price Small Cap Growth  2012    3,660,384     23.20 - 27.18    93,411,008     
   Investment Division              2011    3,938,724     20.15 - 23.40    86,825,771     
                                    2010    4,055,742     19.98 - 22.99    88,004,866     
                                    2009    4,272,691     14.95 - 17.11    68,810,021     
                                    2008    4,498,247     10.85 - 12.37    52,291,217     

MSF Van Eck Global Natural          2012          319            167.46        53,423     
   Resources Investment Division    2011           81            162.89        13,179     
   (Commenced 5/2/2011)                                                                   

MSF Western Asset Management        2012    1,037,022     22.40 - 39.30    25,456,035     
   Strategic Bond Opportunities     2011    1,068,823     20.28 - 35.25    23,536,888     
   Investment Division              2010    1,145,809     19.28 - 33.21    23,786,502     
                                    2009    1,115,618     17.25 - 29.46    20,580,082     
                                    2008    1,106,833     13.17 - 22.28    15,464,462     

MSF Western Asset Management        2012      936,357     16.15 - 24.71    16,622,548     
   U.S. Government Investment       2011      957,065     15.77 - 23.91    16,435,798     
   Division                         2010    1,021,769     15.08 - 22.66    16,633,651     
                                    2009    1,063,071     14.38 - 21.41    16,359,270     
                                    2008    1,059,598     13.91 - 20.52    15,636,881     

PIMCO VIT All Asset Investment      2012       10,325             12.78       131,919     
   Division (Commenced 5/2/2011)    2011        8,649             11.12        96,138     

PIMCO VIT Long-Term U.S.            2012        1,968             15.30        30,108     
   Government Investment Division                                                         
   (Commenced 5/4/2009 and began                                                          
   transactions in 2012)                                                                  

PIMCO VIT Low Duration              2012       79,088             12.46       985,514     
   Investment Division              2011       80,364             11.77       946,008     
   (Commenced 5/4/2009)             2010       65,497             11.64       762,531     
                                    2009       66,450             11.06       734,746     

Pioneer VCT Emerging Markets        2012       33,221             20.26       673,079     
   Investment Division              2011       22,116             18.14       401,298     
   (Commenced 4/28/2008)            2010       41,431             23.75       984,166     
                                    2009       37,577             20.55       772,123     
                                    2008       13,031             11.81       153,859     

Pioneer VCT Mid Cap Value           2012        3,389             45.30       153,545     
   Investment Division              2011        3,306             40.77       134,780     
   (Commenced 4/28/2008 and began   2010        2,302             43.21        99,478     
   transactions in 2009)            2009          586             36.55        21,403     


                                                  FOR THE YEAR ENDED DECEMBER 31          
                                          ------------------------------------------------
                                          INVESTMENT(1)  EXPENSE RATIO(2)  TOTAL RETURN(3)
                                             INCOME          LOWEST TO        LOWEST TO   
                                            RATIO (%)       HIGHEST (%)      HIGHEST (%)  
                                          -------------  ---------------- ----------------
                                                                                          
MSF T. Rowe Price Large Cap Growth  2012       0.12        0.00 - 0.90       17.90 - 18.97
   Investment Division              2011       0.09        0.00 - 0.90     (1.99) - (1.11)
                                    2010       0.27        0.00 - 0.90       16.00 - 17.05
                                    2009       0.63               0.90       42.15 - 43.44
                                    2008       0.59               0.90   (41.89) - (38.27)

MSF T. Rowe Price Small Cap Growth  2012         --        0.00 - 0.90       15.13 - 16.18
   Investment Division              2011         --        0.00 - 0.90         0.86 - 1.77
                                    2010         --        0.00 - 0.90       33.69 - 34.90
                                    2009       0.35        0.45 - 0.90       37.72 - 38.97
                                    2008         --        0.45 - 0.90   (36.76) - (33.41)

MSF Van Eck Global Natural          2012         --               0.00                2.80
   Resources Investment Division    2011         --               0.00             (22.34)
   (Commenced 5/2/2011)                                                                   

MSF Western Asset Management        2012       3.61        0.00 - 0.90       10.49 - 11.50
   Strategic Bond Opportunities     2011       5.05        0.00 - 0.90         5.19 - 6.14
   Investment Division              2010       6.04        0.00 - 0.90       11.72 - 12.73
                                    2009       6.60               0.90       31.04 - 32.22
                                    2008       4.07               0.90   (15.76) - (14.42)

MSF Western Asset Management        2012       2.09        0.00 - 0.90         2.44 - 3.37
   U.S. Government Investment       2011       1.49        0.00 - 0.90         4.56 - 5.51
   Division                         2010       2.70        0.00 - 0.90         4.86 - 5.81
                                    2009       4.49               0.90         3.40 - 4.33
                                    2008       4.27               0.90     (1.23) - (0.36)

PIMCO VIT All Asset Investment      2012       5.69               0.00               10.96
   Division (Commenced 5/2/2011)    2011       3.04               0.00              (3.47)

PIMCO VIT Long-Term U.S.            2012       0.76               0.00                5.45
   Government Investment Division                                                         
   (Commenced 5/4/2009 and began                                                          
   transactions in 2012)                                                                  

PIMCO VIT Low Duration              2012       1.91               0.00                5.86
   Investment Division              2011       1.68               0.00                1.11
   (Commenced 5/4/2009)             2010       1.62               0.00                5.29
                                    2009       1.55               0.00               10.57

Pioneer VCT Emerging Markets        2012       0.24               0.00               11.66
   Investment Division              2011         --               0.00             (23.62)
   (Commenced 4/28/2008)            2010       0.33               0.00               15.61
                                    2009       0.96               0.00               74.02
                                    2008         --               0.00             (55.11)

Pioneer VCT Mid Cap Value           2012       1.05               0.00               11.11
   Investment Division              2011       0.87               0.00              (5.64)
   (Commenced 4/28/2008 and began   2010       1.08               0.00               18.22
   transactions in 2009)            2009         --               0.00               25.58

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METROPOLITAN LIFE SEPARATE ACCOUNT UL   
OF METROPOLITAN LIFE INSURANCE COMPANY    
NOTES TO THE FINANCIAL STATEMENTS -- (CONCLUDED)    

9. FINANCIAL HIGHLIGHTS -- (CONCLUDED)                                          

                                                        [Enlarge/Download Table]

                                                       AS OF DECEMBER 31                   
                                          -------------------------------------------      
                                                          UNIT VALUE                       
                                                           LOWEST TO          NET          
                                             UNITS        HIGHEST ($)     ASSETS ($)       
                                          -----------   ---------------  ------------      
                                                                                           
Royce Micro-Cap Investment          2012       21,685             17.16       372,006      
   Division (Commenced 11/10/2008   2011       19,473             15.94       310,463      
   and began transactions in 2010)  2010       19,226             18.14       348,709      

Royce Small-Cap Investment          2012       33,234             16.30       541,872      
   Division (Commenced 11/10/2008   2011       52,075             14.49       754,742      
   and began transactions in 2009)  2010       26,235             14.99       393,142      
                                    2009        4,703             12.43        58,471      

UIF Emerging Markets Debt           2012       33,059             35.77     1,182,598      
   Investment Division              2011       13,883             30.33       420,998      
   (Commenced 11/10/2008            2010          259             28.33         7,343      
   and began transactions in 2009)  2009          223             25.82         5,747      

UIF Emerging Markets Equity         2012       69,412             14.90     1,033,944      
   Investment Division              2011       43,435             12.42       539,388      
   (Commenced 11/10/2008            2010       13,018             15.18       197,669      
   and began transactions in 2009)  2009          442             12.76         5,643      

Wells Fargo VT Total Return Bond    2012       29,620             16.51       489,060      
   Investment Division              2011        8,689             15.56       135,214      
                                    2010       75,281             14.37     1,081,415      
                                    2009       39,845             13.42       534,737      
                                    2008       15,329             11.98       183,674      


                                                  FOR THE YEAR ENDED DECEMBER 31           
                                          -------------------------------------------------
                                          INVESTMENT(1) EXPENSE RATIO(2)    TOTAL RETURN(3)
                                             INCOME         LOWEST TO          LOWEST TO   
                                            RATIO (%)      HIGHEST (%)        HIGHEST (%)  
                                          ------------- ----------------   ----------------
                                                                                           
Royce Micro-Cap Investment          2012        --                0.00                 7.60
   Division (Commenced 11/10/2008   2011      2.46                0.00              (12.10)
   and began transactions in 2010)  2010      3.02                0.00                29.96

Royce Small-Cap Investment          2012      0.09                0.00                12.50
   Division (Commenced 11/10/2008   2011      0.36                0.00               (3.28)
   and began transactions in 2009)  2010      0.14                0.00                20.52
                                    2009        --                0.00                35.20

UIF Emerging Markets Debt           2012      2.41                0.00                17.96
   Investment Division              2011      3.50                0.00                 7.03
   (Commenced 11/10/2008            2010      4.24                0.00                 9.74
   and began transactions in 2009)  2009      2.19                0.00                30.21

UIF Emerging Markets Equity         2012        --                0.00                19.95
   Investment Division              2011      0.35                0.00              (18.22)
   (Commenced 11/10/2008            2010      0.57                0.00                19.02
   and began transactions in 2009)  2009        --                0.00                69.84

Wells Fargo VT Total Return Bond    2012      1.38                0.00                 6.11
   Investment Division              2011      2.74                0.00                 8.33
                                    2010      3.35                0.00                 7.04
                                    2009      4.42                0.00                12.00
                                    2008      4.82                0.00                 2.41

1 These amounts represent the dividends, excluding distributions of capital   
gains, received by the Investment Division from the underlying fund,      
portfolio, or series, net of management fees assessed by the fund manager,
 divided by the average net assets, regardless of share class, if any. These
ratios exclude those expenses, such as mortality and expense risk charges,
  that are assessed against policy owner accounts either through reductions in
the unit values or the redemption of units. The investment income ratio is
 calculated for each period indicated or from the effective date through the
end of the reporting period. The recognition of investment income by the  
Investment Division is affected by the timing of the declaration of       
dividends by the underlying fund, portfolio, or series, in which the      
 Investment Division invests. The investment income ratio is calculated as a
weighted average ratio since the Investment Division may invest in two or 
  more share classes, if any, within the underlying fund, portfolio, or series
of the Trusts which may have unique investment income ratios.             

2 These amounts represent annualized policy expenses of each of the           
applicable Investment Divisions, consisting primarily of mortality and    
expense risk charges, for each period indicated. The ratios include only  
those expenses that result in a direct reduction to unit values. Charges  
made directly to policy owner accounts through the redemption of units and
expenses of the underlying fund, portfolio, or series have been excluded. 

3 These amounts represent the total return for the period indicated,          
  including changes in the value of the underlying fund, portfolio, or series,
 and expenses assessed through the reduction of unit values. These ratios do
  not include any expenses assessed through the redemption of units. The total
return is calculated for each period indicated or from the effective date 
 through the end of the reporting period. The total return is presented as a
range of minimum to maximum returns, based on the minimum and maximum     
returns within each product grouping of the applicable Investment         
Division.                                                                 

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EQUITY ADVANTAGE VUL AND ULII 

FLEXIBLE PREMIUM MULTIFUNDED LIFE INSURANCE POLICIES  

METROPOLITAN LIFE SEPARATE ACCOUNT UL 

ISSUED BY METROPOLITAN LIFE INSURANCE COMPANY 

STATEMENT OF ADDITIONAL INFORMATION 
(PART B)  

APRIL 29, 2013  

  This Statement of Additional Information is not a prospectus. This Statement
of Additional Information relates to (a) for Equity Advantage VUL Policies, the 
prospectus dated April 28, 2008, as supplemented, and (b) for ULII Policies the 
prospectus dated May 1, 2003, as supplemented, and should be read in            
conjunction therewith. A copy of the prospectus for Equity Advantage VUL and    
the prospectus for ULII may be obtained by writing to MetLife, P.O. Box 543,    
Warwick, RI 02887-0543. YOU CAN OBTAIN PROSPECTUSES FOR THE PORTFOLIOS BY       
CALLING 1-800-638-5000.                                                         

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TABLE OF CONTENTS 

                                                                [Download Table]
                                                        
The Company and the Separate Account.............. SAI-3
Distribution of the Policies...................... SAI-3
   Commissions on Equity Advantage VUL Policies... SAI-3
   Commissions on ULII Policies................... SAI-3
Income Plans...................................... SAI-4
Potential Conflicts of Interest................... SAI-4
Limits to MetLife's Right to Challenge the Policy. SAI-4
Misstatement of Age or Sex........................ SAI-4
Reports........................................... SAI-4
Personalized Illustrations........................ SAI-5
Independent Auditors.............................. SAI-6
Financial Statements.............................. SAI-6

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THE COMPANY AND THE SEPARATE ACCOUNT  

MetLife is a wholly-owned subsidiary of MetLife, Inc. a publicly traded   
company. Our main office is located at 200 Park Avenue, New York, New York      
10166. MetLife was formed under the laws of New York State in 1868. MetLife,    
Inc., through its subsidiaries and affiliates, provides insurance and other     
financial services to individual and group customers.                           

  We established the Separate Account under New York law on December 13, 1988.
The Separate Account receives premium payments from the Policies described in   
the Prospectus and other variable life insurance policies that we issue. We     
have registered the Separate Account as a unit investment trust under the       
Investment Company Act of 1940 (the "1940 Act").                                

DISTRIBUTION OF THE POLICIES  

MetLife Investors Distribution Company ("MLIDC") is the principal         
underwriter and distributor of the Policies. MLIDC, which is our affiliate, is  
registered under the Securities Exchange Act of 1934 (the "34 Act") as a        
broker-dealer and is a member of the Financial Industry Regulatory Authority    
("FINRA").                                                                      

  The Policies were sold through licensed life insurance sales representatives
associated with MetLife Securities, Inc. ("MSI"), our affiliate, or with our    
other affiliated broker-dealers, New England Securities Corporation, Walnut     
Street Securities, Inc. and Tower Square Securities, Inc. MSI and our other     
affiliated broker-dealers are registered with the SEC as broker-dealers under   
the 34 Act and are also members of FINRA. The Policies may also have been sold  
through licensed life insurance sales representatives associated with           
unaffiliated broker-dealers with which MLIDC entered into a selling agreement.  

The UL II Policies were no longer sold after December 31, 2000. Beginning 
January 1, 2009, the Equity Advantage VUL Policies were no longer sold.         

COMMISSIONS ON EQUITY ADVANTAGE VUL POLICIES                                    

MLIDC received sales compensation with respect to the Policies in the     
following amounts.                                                              

                                                                [Download Table]

                                 AGGREGATE AMOUNT OF 
                                 COMMISSIONS RETAINED
             AGGREGATE AMOUNT OF BY DISTRIBUTOR AFTER
             COMMISSIONS PAID TO PAYMENTS TO SELLING 
FISCAL YEAR      DISTRIBUTOR            FIRMS        
-----------  ------------------- --------------------
                                                     
   2012.....     $5,257,823               $0         
   2011.....     $7,151,502               $0         
   2010.....     $9,436,913               $0         

 The calculation of maximum commissions payable for the Equity Advantage VUL
Policies is described in the prospectus.                                        

COMMISSIONS ON ULII POLICIES                                                    

MLIDC received sales compensation with respect to the Policies in the     
following amounts.                                                              

                                                                [Download Table]

                                 AGGREGATE AMOUNT OF 
                                 COMMISSIONS RETAINED
             AGGREGATE AMOUNT OF BY DISTRIBUTOR AFTER
             COMMISSIONS PAID TO PAYMENTS TO SELLING 
FISCAL YEAR      DISTRIBUTOR            FIRMS        
-----------  ------------------- --------------------
                                                     
   2012.....      $723,714                $0         
   2011.....      $789,223                $0         
   2010.....      $869,203                $0         

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The calculation of maximum commissions payable for the ULII Policies is   
described in the prospectus for ULII.                                           

INCOME PLANS  

 Generally, you can receive the Policy's insurance proceeds, amounts payable
at the Final Date or amounts paid upon surrender under an income plan instead   
of in a lump sum. Before you choose an income plan you should consider:         

..  The tax consequences associated with the Policy proceeds, which can vary    
  considerably, depending on whether a plan is chosen. You or your beneficiary
should consult with a qualified tax adviser about tax consequences.       

..  That your Policy will terminate at the time you commence an income plan and 
you will receive a new contract, which describes the terms of the income  
 plan. You should carefully review the terms of the new contract, because it
 contains important information about the terms and conditions of the income
plan.                                                                     

..  The rates of return that we credit under these plans are not based on the   
performance of any of the Portfolios.                                     

Generally, we currently make the following income plans available:        

.  Interest income         .  Installment Income for  
                     a Stated Period
.  Installment Income for  .  Single Life             
a Stated Amount            Income-Guaranteed    
                    Payment Period
.  Joint and Survivor      .  Single Life             
Life Income                Income-Guaranteed    
            Return

POTENTIAL CONFLICTS OF INTEREST 

  The Portfolio's Boards of Trustees monitor events to identify conflicts that
may arise from the sale of Portfolio shares to variable life and variable       
annuity separate accounts of affiliated and, if applicable, unaffiliated        
insurance companies and qualified plans. Conflicts could result from changes in 
state insurance law or Federal income tax law, changes in investment management 
of a Portfolio, or differences in voting instructions given by variable life    
and variable annuity contract owners and qualified plans, if applicable. If     
there is a material conflict, the Board of Trustees will determine what action  
should be taken, including the removal of the affected Investment Division from 
the Portfolio(s), if necessary. If we believe any Portfolio action is           
insufficient, we will consider taking other action to protect Policy Owners.    
There could, however, be unavoidable delays or interruptions of operations of   
the Separate Account that we may be unable to remedy.                           

LIMITS TO METLIFE'S RIGHT TO CHALLENGE THE POLICY 

We will not contest your Policy after two Policy years from issue or      
reinstatement (excluding riders added later). We will not contest an increase   
in a death benefit after it has been in effect for two years.                   

MISSTATEMENT OF AGE OR SEX  

We will adjust benefits to reflect the correct age and sex of the insured,
if this information is not correct in the Policy application.                   

REPORTS 

 Generally, you will promptly receive statements confirming your significant
transactions such as:                                                           

..  Change in specified face amount.                                            

..  Change in death benefit options.                                            

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..  Changes in guarantees.                                                      

..  Transfers among investment divisions (including those through Automated     
Investment Strategies, which are confirmed quarterly).                    

..  Partial withdrawals.                                                        

..  Loan amounts you request.                                                   

..  Loan repayments and premium payments.                                       

  If your premium payments are made through preauthorized checking arrangement
or another systematic payment method, we will not send you any confirmation in  
addition to the one you receive from your bank or employer.                     

We will also send you an annual statement within 30 days after a Policy   
year. The statement will summarize the year's transactions and include          
information on:                                                                 

..  Deductions and charges.                                                     

..  Status of the death benefit.                                                

..  Cash and cash surrender values.                                             

..  Amounts in the investment divisions and Fixed Account.                      

..  Status of Policy loans.                                                     

..  Automatic loans to pay interest.                                            

..  Information on your modified endowment contract status (if applicable).     

We will also send you a Fund's annual and semi-annual reports to          
shareholders.                                                                   

PERFORMANCE DATA  

We may provide information concerning the historical investment experience
of the investment divisions, including average annual net rates of return for   
periods of one, three, five, and ten years, as well as average annual net rates 
of return and total net rates of return since inception of the Portfolios.      
These net rates of return represent past performance and are not an indication  
of future performance. Cost of insurance, sales, premium tax, and mortality and 
expense risk charges, which can significantly reduce the return to the Policy   
Owner, are not reflected in these rates. The rates of return reflect only the   
fees and expenses of the underlying Portfolios. The net rates of return show    
performance from the inception of the Portfolios, which in some instances, may  
precede the inception date of the corresponding investment division.            

PERSONALIZED ILLUSTRATIONS  

We may provide personalized illustrations showing how the Policies work   
based on assumptions about investment returns and the Policy Owner's and/or     
insured's characteristics. The illustrations are intended to show how the death 
benefit, cash surrender value, and cash value could vary over an extended       
period of time assuming hypothetical gross rates of return (I.E., investment    
income and capital gains and losses, realized or unrealized) for the Separate   
Account equal to specified constant after-tax rates of return. One of the gross 
rates of return will be 0%. Gross rates of return do not reflect the deduction  
of any charges and expenses. The illustrations will be based on specified       
assumptions, such as face amount, premium payments, insured, underwriting       
class, and death benefit option. Illustrations will disclose the specific       
assumptions upon which they are based. Values will be given based on guaranteed 
mortality and expense risk and other charges and may also be based on current   
mortality and expense risk and other charges.                                   

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The illustrated death benefit, cash surrender value, and cash value for a 
hypothetical Policy would be different, either higher or lower, from the        
amounts shown in the illustration if the actual gross rates of return averaged  
the gross rates of return upon which the illustration is based, but varied      
above and below the average during the period, or if premiums were paid in      
other amounts or at other than annual intervals. For example, as a result of    
variations in actual returns, additional premium payments beyond those          
illustrated may be necessary to maintain the Policy in force for the periods    
shown or to realize the Policy values shown in particular illustrations even if 
the average rate of return is realized.                                         

Illustrations may also show the internal rate of return on the cash       
surrender value and the death benefit. The internal rate of return on the cash  
surrender value is equivalent to an interest rate (after taxes) at which an     
amount equal to the illustrated premiums could have been invested outside the   
Policy to arrive at the cash surrender value of the Policy. The internal rate   
of return on the death benefit is equivalent to an interest rate (after taxes)  
at which an amount equal to the illustrated premiums could have been invested   
outside the Policy to arrive at the death benefit of the Policy. Illustrations  
may also show values based on the historical performance of the investment      
divisions of the Separate Account.                                              

INDEPENDENT AUDITORS  

  The consolidated financial statements of Metropolitan Life Insurance Company
and subsidiaries (the "Company"), included in this Statement of Additional      
Information, have been audited by Deloitte & Touche LLP, independent auditors,  
as stated in their report appearing herein (which report expresses an           
unmodified opinion and includes an emphasis-of-matter paragraph referring to    
changes in the Company's method of accounting for deferred policy acquisition   
costs as required by accounting guidance adopted on January 1, 2012 and the     
Company's reorganization of its segments in 2012). Such financial statements    
are included in reliance upon the report of such firm given upon their          
authority as experts in accounting and auditing.                                

The principal business address of Deloitte & Touche LLP is Two World      
Financial Center, New York, New York 10281-1414.                                

FINANCIAL STATEMENTS  

The financial statements of MetLife are attached to this Statement of     
Additional Information. Our financial statements should be considered only as   
bearing upon our ability to meet our obligations under the Policy.              

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INDEPENDENT AUDITORS' REPORT  

To the Board of Directors and Stockholder of                                    
Metropolitan Life Insurance Company:                                            

We have audited the accompanying consolidated financial statements of           
Metropolitan Life Insurance Company and its subsidiaries (the "Company"), which 
comprise the consolidated balance sheets as of December 31, 2012 and 2011, and  
the related consolidated statements of operations, comprehensive income,        
equity, and cash flows for each of the three years in the period ended          
December 31, 2012, and the related notes to the consolidated financial          
statements.                                                                     

Management's Responsibility for the Consolidated Financial Statements           

Management is responsible for the preparation and fair presentation of these    
consolidated financial statements in accordance with accounting principles      
generally accepted in the United States of America; this includes the design,   
implementation, and maintenance of internal control relevant to the preparation 
and fair presentation of consolidated financial statements that are free from   
material misstatement, whether due to fraud or error.                           

Auditors' Responsibility                                                        

Our responsibility is to express an opinion on these consolidated financial     
statements based on our audits. We conducted our audits in accordance with      
auditing standards generally accepted in the United States of America. Those    
standards require that we plan and perform the audit to obtain reasonable       
assurance about whether the consolidated financial statements are free from     
material misstatement.                                                          

An audit involves performing procedures to obtain audit evidence about the      
amounts and disclosures in the consolidated financial statements. The           
procedures selected depend on the auditor's judgment, including the assessment  
of the risks of material misstatement of the consolidated financial statements, 
whether due to fraud or error. In making those risk assessments, the auditor    
considers internal control relevant to the Company's preparation and fair       
presentation of the consolidated financial statements in order to design audit  
procedures that are appropriate in the circumstances, but not for the purpose   
of expressing an opinion on the effectiveness of the Company's internal         
control. Accordingly, we express no such opinion. An audit also includes        
evaluating the appropriateness of accounting policies used and the              
reasonableness of significant accounting estimates made by management, as well  
as evaluating the overall presentation of the consolidated financial statements.

We believe that the audit evidence we have obtained is sufficient and           
appropriate to provide a basis for our audit opinion.                           

Opinion                                                                         

In our opinion, the consolidated financial statements referred to above present 
fairly, in all material respects, the financial position of Metropolitan Life   
Insurance Company and its subsidiaries as of December 31, 2012 and 2011, and    
the results of their operations and their cash flows for each of the three      
years in the period ended December 31, 2012, in accordance with accounting      
principles generally accepted in the United States of America.                  

Emphasis of Matter                                                              

As discussed in Note 1, the Company changed its method of accounting for        
deferred policy acquisition costs as required by accounting guidance adopted on 
January 1, 2012. In addition, as discussed in Note 2, the Company reorganized   
its segments in 2012. Our opinion is not modified with respect to these matters.

/s/ DELOITTE & TOUCHE LLP                                                       
DELOITTE & TOUCHE LLP                                                           

New York, New York                                                              
April 2, 2013                                                                   

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Metropolitan Life Insurance Company 
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Consolidated Balance Sheets 
December 31, 2012 and 20110 

(In millions, except share and per share data)  

                                                        [Enlarge/Download Table]

                                                                                                     2012         2011    
                                                                                                 ------------ ------------
                                                                                                                          
Assets                                                                                                                    
Investments:                                                                                                              
 Fixed maturity securities available-for-sale, at estimated fair value (amortized cost:                                   
   $164,757 and $154,376, respectively; includes $170 and $0, respectively, relating to                                   
   variable interest entities).................................................................. $    183,676 $    168,178
 Equity securities available-for-sale, at estimated fair value (cost: $1,541 and $1,379,                                  
   respectively)................................................................................        1,499        1,278
 Trading and fair value option securities, at estimated fair value (includes $659 and $473,                               
   respectively, of actively traded securities; and $41 and $117, respectively, relating to                               
   variable interest entities)..................................................................          752          697
 Mortgage loans (net of valuation allowances of $304 and $393, respectively)....................       44,657       43,880
 Policy loans...................................................................................        8,364        8,314
 Real estate and real estate joint ventures (includes $10 and $15, respectively, relating to                              
   variable interest entities)..................................................................        6,837        5,891
 Other limited partnership interests (includes $165 and $152, respectively, relating to                                   
   variable interest entities)..................................................................        4,508        4,334
 Short-term investments, principally at estimated fair value....................................        6,881        6,140
 Other invested assets, principally at estimated fair value (includes $81 and $98,                                        
   respectively, relating to variable interest entities)........................................       12,479       12,478
                                                                                                 ------------ ------------
   Total investments............................................................................      269,653      251,190
Cash and cash equivalents, principally at estimated fair value (includes $31 and $70,                                     
 respectively, relating to variable interest entities)..........................................        1,401        2,089
Accrued investment income (includes $2 and $1, respectively, relating to variable interest                                
 entities)......................................................................................        2,242        2,219
Premiums, reinsurance and other receivables (includes $4 and $10, respectively, relating to                               
 variable interest entities)....................................................................       24,721       27,981
Deferred policy acquisition costs and value of business acquired................................        5,832        6,341
Other assets (includes $4 and $4, respectively, relating to variable interest entities).........        4,444        4,233
Separate account assets.........................................................................      120,971      106,678
                                                                                                 ------------ ------------
   Total assets................................................................................. $    429,264 $    400,731
                                                                                                 ============ ============
Liabilities and Equity                                                                                                    
Liabilities                                                                                                               
Future policy benefits.......................................................................... $    113,986 $    109,333
Policyholder account balances...................................................................       94,716       88,856
Other policy-related balances...................................................................        5,663        5,876
Policyholder dividends payable..................................................................          610          659
Policyholder dividend obligation................................................................        3,828        2,919
Payables for collateral under securities loaned and other transactions..........................       22,461       20,280
Short-term debt.................................................................................          100          101
Long-term debt (includes $124 and $116, respectively, at estimated fair value, relating to                                
 variable interest entities)....................................................................        2,345        2,248
Current income tax payable......................................................................          161          123
Deferred income tax liability (includes $2 and $0, respectively, at estimated fair value,                                 
 relating to variable interest entities)........................................................        3,036        2,324
Other liabilities (includes $22 and $42, respectively, relating to variable interest entities)..       33,941       36,614
Separate account liabilities....................................................................      120,971      106,678
                                                                                                 ------------ ------------
   Total liabilities............................................................................      401,818      376,011
                                                                                                 ------------ ------------
Contingencies, Commitments and Guarantees (Note 17)                                                                       
Equity                                                                                                                    
Metropolitan Life Insurance Company stockholder's equity:                                                                 
 Common stock, par value $0.01 per share; 1,000,000,000 shares authorized; 494,466,664 shares                             
   issued and outstanding at December 31, 2012 and 2011.........................................            5            5
 Additional paid-in capital.....................................................................       14,510       14,506
 Retained earnings..............................................................................        8,631        6,973
 Accumulated other comprehensive income (loss)..................................................        4,008        3,054
                                                                                                 ------------ ------------
   Total Metropolitan Life Insurance Company stockholder's equity...............................       27,154       24,538
Noncontrolling interests........................................................................          292          182
                                                                                                 ------------ ------------
   Total equity.................................................................................       27,446       24,720
                                                                                                 ------------ ------------
   Total liabilities and equity................................................................. $    429,264 $    400,731
                                                                                                 ============ ============

See accompanying notes to the consolidated financial statements.  

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Consolidated Statements of Operations 
For the Years Ended December 31, 2012, 2011 and 2010  

(In millions) 

                                                        [Enlarge/Download Table]

                                                                         2012       2011       2010   
                                                                      ---------- ---------- ----------
                                                                                                      
Revenues                                                                                              
Premiums............................................................. $   19,880 $   18,288 $   18,519
Universal life and investment-type product policy fees...............      2,239      2,202      2,075
Net investment income................................................     11,852     11,615     11,581
Other revenues.......................................................      1,730      1,808      1,725
Net investment gains (losses):                                                                        
 Other-than-temporary impairments on fixed maturity securities.......      (214)      (244)      (510)
 Other-than-temporary impairments on fixed maturity securities                                        
   transferred to other comprehensive income (loss)..................         22         17        150
 Other net investment gains (losses).................................      (138)        359        190
                                                                      ---------- ---------- ----------
   Total net investment gains (losses)...............................      (330)        132      (170)
 Net derivative gains (losses).......................................        675      1,578      (266)
                                                                      ---------- ---------- ----------
     Total revenues..................................................     36,046     35,623     33,464
                                                                      ---------- ---------- ----------
Expenses                                                                                              
Policyholder benefits and claims.....................................     22,269     20,681     20,707
Interest credited to policyholder account balances...................      2,390      2,372      2,523
Policyholder dividends...............................................      1,295      1,355      1,443
Other expenses.......................................................      6,394      6,471      6,282
                                                                      ---------- ---------- ----------
     Total expenses..................................................     32,348     30,879     30,955
                                                                      ---------- ---------- ----------
Income (loss) from continuing operations before provision for income                                  
  tax................................................................      3,698      4,744      2,509
Provision for income tax expense (benefit)...........................      1,055      1,460        769
                                                                      ---------- ---------- ----------
Income (loss) from continuing operations, net of income tax..........      2,643      3,284      1,740
Income (loss) from discontinued operations, net of income tax........         40         61         31
                                                                      ---------- ---------- ----------
 Net income (loss)...................................................      2,683      3,345      1,771
Less: Net income (loss) attributable to noncontrolling interests.....          2        (8)        (3)
                                                                      ---------- ---------- ----------
Net income (loss) attributable to Metropolitan Life Insurance                                         
  Company............................................................ $    2,681 $    3,353 $    1,774
                                                                      ========== ========== ==========

See accompanying notes to the consolidated financial statements.  

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Metropolitan Life Insurance Company 
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Consolidated Statements of Comprehensive Income 
For the Years Ended December 31, 2012, 2011 and 2010  

(In millions) 

                                                        [Enlarge/Download Table]

                                                                       2012       2011       2010   
                                                                    ---------- ---------- ----------
                                                                                                    
Net income (loss) attributable to Metropolitan Life Insurance                                       
  Company.......................................................... $    2,681 $    3,353 $    1,774
Net income (loss) attributable to noncontrolling interests.........          2        (8)        (3)
                                                                    ---------- ---------- ----------
Net income (loss)..................................................      2,683      3,345      1,771
Other comprehensive income (loss):                                                                  
 Unrealized investment gains (losses), net of related offsets......      2,502      2,567      4,470
 Unrealized gains (losses) on derivatives..........................      (241)      1,203        182
 Foreign currency translation adjustments..........................       (30)          6       (29)
 Defined benefit plans adjustment..................................      (766)      (671)        161
                                                                    ---------- ---------- ----------
 Other comprehensive income (loss), before income tax..............      1,465      3,105      4,784
 Income tax (expense) benefit related to items of other                                             
   comprehensive income (loss).....................................      (511)    (1,074)    (1,676)
                                                                    ---------- ---------- ----------
 Other comprehensive income (loss), net of income tax..............        954      2,031      3,108
                                                                    ---------- ---------- ----------
Comprehensive income (loss)........................................      3,637      5,376      4,879
Less: Comprehensive income (loss) attributable to noncontrolling                                    
  interest, net of income tax......................................          2        (8)          3
                                                                    ---------- ---------- ----------
Comprehensive income (loss) attributable to Metropolitan Life                                       
  Insurance Company, excluding cumulative effect of change in                                       
  accounting principle.............................................      3,635      5,384      4,876
Cumulative effect of change in accounting principle, net of income                                  
  tax..............................................................         --         --         10
                                                                    ---------- ---------- ----------
Comprehensive income (loss) attributable to Metropolitan Life                                       
  Insurance Company................................................ $    3,635 $    5,384 $    4,886
                                                                    ========== ========== ==========

See accompanying notes to the consolidated financial statements.  

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Metropolitan Life Insurance Company 
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Consolidated Statements of Equity 
For the Year Ended December 31, 2012  

(In millions) 

                                                                [Download Table]


                                                      Additional           
                                             Common    Paid-in    Retained 
                                             Stock     Capital   Earnings  
                                            -------  ----------- ----------
                                                                           
Balance at December 31, 2011............... $      5 $    14,506 $    6,973
Capital contributions from MetLife, Inc.                                   
 (Note 13).................................                    3           
Excess tax benefits related to stock-based                                 
 compensation..............................                    1           
Dividends on common stock..................                         (1,023)
Change in equity of noncontrolling                                         
 interests.................................                                
Net income (loss)..........................                           2,681
Other comprehensive income (loss), net                                     
 of income tax.............................                                
                                            -------- ----------- ----------
Balance at December 31, 2012............... $      5 $    14,510 $    8,631
                                            ======== =========== ==========
                                                        [Enlarge/Download Table]

                                                 Accumulated Other Comprehensive Income (Loss)                            
                                            --------------------------------------------------------                      
                                                  Net                      Foreign       Defined             Total        
                                              Unrealized    Other-Than-    Currency      Benefit       Metropolitan Life  
                                              Investment     Temporary   Translation      Plans        Insurance Company  
                                             Gains (Losses)  Impairments  Adjustments   Adjustment    Stockholder's Equity
                                            --------------- ------------ ------------ -------------- ---------------------
                                                                                                                          
Balance at December 31, 2011...............  $      5,185   $      (317)   $    37    $      (1,851)     $      24,538    
Capital contributions from MetLife, Inc.                                                                                  
 (Note 13).................................                                                                          3    
Excess tax benefits related to stock-based                                                                                
 compensation..............................                                                                          1    
Dividends on common stock..................                                                                    (1,023)    
Change in equity of noncontrolling                                                                                        
 interests.................................                                                                               
Net income (loss)..........................                                                                      2,681    
Other comprehensive income (loss), net                                                                                    
 of income tax.............................         1,312            159      (19)             (498)               954    
                                            --------------- ------------ ------------ -------------- ---------------------
Balance at December 31, 2012...............  $      6,497   $      (158)   $    18    $      (2,349)     $      27,154    
                                            =============== ============ ============ ============== =====================
                                                                [Download Table]


                                             Noncontrolling   Total    
                                               Interests       Equity  
                                            --------------- -----------
                                                                       
Balance at December 31, 2011...............   $      182    $    24,720
Capital contributions from MetLife, Inc.                               
 (Note 13).................................                           3
Excess tax benefits related to stock-based                             
 compensation..............................                           1
Dividends on common stock..................                     (1,023)
Change in equity of noncontrolling                                     
 interests.................................          108            108
Net income (loss)..........................            2          2,683
Other comprehensive income (loss), net                                 
 of income tax.............................                         954
                                            --------------- -----------
Balance at December 31, 2012...............   $      292    $    27,446
                                            =============== ===========

See accompanying notes to the consolidated financial statements.  

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Consolidated Statements of Equity -- (Continued)  
For the Year Ended December 31, 2011  

(In millions) 

                                                                [Download Table]


                                        Common      Additional    Retained
                                        Stock    Paid-in Capital Earnings 
                                       -------   --------------- ---------
                                                                          
Balance at December 31, 2010......... $        5  $      14,445  $  4,941 
Capital contributions from MetLife,                                       
 Inc. (Note 13)......................                        50           
Excess tax benefits related to stock-                                     
 based compensation..................                        11           
Dividends on common stock............                             (1,321) 
Change in equity of noncontrolling                                        
 interests...........................                                     
Net income (loss)....................                               3,353 
Other comprehensive income (loss),                                        
 net of income tax...................                                     
                                      ---------- --------------- ---------
Balance at December 31, 2011......... $        5  $      14,506  $  6,973 
                                      ========== =============== =========
                                                        [Enlarge/Download Table]

                                            Accumulated Other Comprehensive Income (Loss)                             
                                      ----------------------------------------------------------                      
                                            Net                      Foreign        Defined              Total        
                                        Unrealized    Other-Than-    Currency       Benefit        Metropolitan Life  
                                        Investment     Temporary   Translation       Plans         Insurance Company  
                                       Gains (Losses)  Impairments  Adjustments    Adjustment     Stockholder's Equity
                                      --------------- ------------ ------------ ---------------- ---------------------
                                                                                                                      
Balance at December 31, 2010.........  $      2,672   $      (254)  $      34   $        (1,429)    $        20,414   
Capital contributions from MetLife,                                                                                   
 Inc. (Note 13)......................                                                                            50   
Excess tax benefits related to stock-                                                                                 
 based compensation..................                                                                            11   
Dividends on common stock............                                                                       (1,321)   
Change in equity of noncontrolling                                                                                    
 interests...........................                                                                                 
Net income (loss)....................                                                                         3,353   
Other comprehensive income (loss),                                                                                    
 net of income tax...................         2,513           (63)          3              (422)              2,031   
                                      --------------- ------------ ------------ ---------------- ---------------------
Balance at December 31, 2011.........  $      5,185   $      (317)  $      37    $       (1,851)    $        24,538   
                                      =============== ============ ============ ================ =====================
                                                                [Download Table]


                                       Noncontrolling   Total    
                                         Interests       Equity  
                                      --------------- -----------
                                                                 
Balance at December 31, 2010.........  $        148   $    20,562
Capital contributions from MetLife,                              
 Inc. (Note 13)......................                          50
Excess tax benefits related to stock-                            
 based compensation..................                          11
Dividends on common stock............                     (1,321)
Change in equity of noncontrolling                               
 interests...........................            42            42
Net income (loss)....................           (8)         3,345
Other comprehensive income (loss),                               
 net of income tax...................                       2,031
                                      --------------- -----------
Balance at December 31, 2011.........  $        182   $    24,720
                                      =============== ===========

See accompanying notes to the consolidated financial statements.  

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Consolidated Statements of Equity -- (Continued)  
For the Year Ended December 31, 2010  

(In millions) 

                                                                [Download Table]


                                                      Additional           
                                             Common    Paid-in    Retained 
                                             Stock     Capital   Earnings  
                                            -------  ----------- ----------
                                                                           
Balance at December 31, 2009............... $      5 $    14,438 $    4,817
Cumulative effect of change in accounting                                  
 principle, net of income tax (Note 1).....                         (1,009)
                                            -------- ----------- ----------
Balance at January 1, 2010.................        5      14,438      3,808
Cumulative effect of change in accounting                                  
 principle, net of income tax (Note 1).....                            (10)
Capital contributions from MetLife, Inc.                                   
 (Note 13).................................                    3           
Excess tax benefits related to stock-based                                 
 compensation..............................                    4           
Dividends on common stock..................                           (631)
Change in equity of noncontrolling                                         
 interests.................................                                
Net income (loss)..........................                           1,774
Other comprehensive income (loss), net of                                  
 income tax................................                                
                                            -------- ----------- ----------
Balance at December 31, 2010............... $      5 $    14,445 $    4,941
                                            ======== =========== ==========
                                                        [Enlarge/Download Table]

                                                Accumulated Other Comprehensive Income (Loss)                           
                                            ------------------------------------------------------                      
                                                  Net                      Foreign      Defined            Total        
                                              Unrealized    Other-Than-    Currency     Benefit      Metropolitan Life  
                                              Investment     Temporary   Translation     Plans       Insurance Company  
                                             Gains (Losses)  Impairments  Adjustments  Adjustment   Stockholder's Equity
                                            --------------- ------------ ------------ ------------ ---------------------
                                                                                                                        
Balance at December 31, 2009...............   $    (265)     $    (341)  $        51  $    (1,527)    $        17,178   
Cumulative effect of change in accounting                                                                               
 principle, net of income tax (Note 1).....          (6)                         (1)                          (1,016)   
                                              ----------     ----------  -----------  ------------    ---------------   
Balance at January 1, 2010.................        (271)          (341)           50       (1,527)             16,162   
Cumulative effect of change in accounting                                                                               
 principle, net of income tax (Note 1).....           10                                                           --   
Capital contributions from MetLife, Inc.                                                                                
 (Note 13).................................                                                                         3   
Excess tax benefits related to stock-based                                                                              
 compensation..............................                                                                         4   
Dividends on common stock..................                                                                     (631)   
Change in equity of noncontrolling                                                                                      
 interests.................................                                                                             
Net income (loss)..........................                                                                     1,774   
Other comprehensive income (loss), net of                                                                               
 income tax................................        2,933             87         (16)            98              3,102   
                                            --------------- ------------ ------------ ------------ ---------------------
Balance at December 31, 2010...............   $    2,672     $    (254)  $        34  $    (1,429)    $        20,414   
                                            =============== ============ ============ ============ =====================
                                                                [Download Table]


                                             Noncontrolling  Total   
                                               Interests      Equity 
                                            --------------- ---------
                                                                     
Balance at December 31, 2009...............  $        291   $  17,469
Cumulative effect of change in accounting                            
 principle, net of income tax (Note 1).....                   (1,016)
                                             ------------   ---------
Balance at January 1, 2010.................           291      16,453
Cumulative effect of change in accounting                            
 principle, net of income tax (Note 1).....                        --
Capital contributions from MetLife, Inc.                             
 (Note 13).................................                         3
Excess tax benefits related to stock-based                           
 compensation..............................                         4
Dividends on common stock..................                     (631)
Change in equity of noncontrolling                                   
 interests.................................         (146)       (146)
Net income (loss)..........................           (3)       1,771
Other comprehensive income (loss), net of                            
 income tax................................             6       3,108
                                            --------------- ---------
Balance at December 31, 2010...............  $        148   $  20,562
                                            =============== =========

See accompanying notes to the consolidated financial statements.  

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Consolidated Statements of Cash Flows 
For the Years Ended December 31, 2012, 2011 and 2010  

(In millions) 

                                                        [Enlarge/Download Table]

                                                                                             2012        2011       2010   
                                                                                          ----------- ---------- ----------
                                                                                                                           
Cash flows from operating activities                                                                                       
Net income (loss)........................................................................ $     2,683 $    3,345 $    1,771
Adjustments to reconcile net income (loss) to net cash provided by operating activities:                                   
  Depreciation and amortization expenses.................................................         416        407        394
  Amortization of premiums and accretion of discounts associated with investments, net...       (698)      (683)      (709)
  (Gains) losses on investments and derivatives and from sales of businesses, net........       (188)    (1,735)        380
  (Income) loss from equity method investments, net of dividends or distributions........          42        269        116
  Interest credited to policyholder account balances.....................................       2,390      2,372      2,523
  Universal life and investment-type product policy fees.................................     (2,239)    (2,202)    (2,075)
  Change in trading and fair value option securities.....................................       (100)         20       (14)
  Change in accrued investment income....................................................          22         14      (117)
  Change in premiums, reinsurance and other receivables..................................       (422)      (208)      (377)
  Change in deferred policy acquisition costs and value of business acquired, net........         359        150        169
  Change in income tax...................................................................        (28)        527        727
  Change in other assets.................................................................         361        767        283
  Change in insurance-related liabilities and policy-related balances....................       1,915      2,587      2,469
  Change in other liabilities............................................................         170        726        684
  Other, net.............................................................................       (147)      (125)      (120)
                                                                                          ----------- ---------- ----------
Net cash provided by operating activities................................................       4,536      6,231      6,104
                                                                                          ----------- ---------- ----------
Cash flows from investing activities                                                                                       
  Sales, maturities and repayments of:                                                                                     
   Fixed maturity securities.............................................................      52,889     53,325     49,828
   Equity securities.....................................................................         245        816        520
   Mortgage loans........................................................................       8,668      8,152      4,853
   Real estate and real estate joint ventures............................................         721      1,058        241
   Other limited partnership interests...................................................         585        754        383
  Purchases of:                                                                                                            
   Fixed maturity securities.............................................................    (62,136)   (54,038)   (57,961)
   Equity securities.....................................................................       (393)      (278)      (157)
   Mortgage loans........................................................................     (9,448)   (10,443)    (5,820)
   Real estate and real estate joint ventures............................................     (1,447)      (980)      (539)
   Other limited partnership interests...................................................       (660)      (658)      (614)
  Cash received in connection with freestanding derivatives..............................         634      1,011        712
  Cash paid in connection with freestanding derivatives..................................       (443)      (695)      (920)
  Issuances of loans to affiliates.......................................................          --      (525)         --
  Net change in policy loans.............................................................        (50)       (44)      (171)
  Net change in short-term investments...................................................       (567)    (3,816)        841
  Net change in other invested assets....................................................       (791)      (562)        149
  Net change in property, equipment and leasehold improvements...........................        (71)      (104)      (138)
  Other, net.............................................................................          --          7        (7)
                                                                                          ----------- ---------- ----------
Net cash used in investing activities.................................................... $  (12,264) $  (7,020) $  (8,800)
                                                                                          ----------- ---------- ----------

See accompanying notes to the consolidated financial statements.  

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Consolidated Statements of Cash Flows -- (Continued)  
For the Years Ended December 31, 2012, 2011 and 2010  

(In millions) 

                                                        [Enlarge/Download Table]

                                                                                           2012        2011        2010    
                                                                                        ----------- ----------- -----------
                                                                                                                           
Cash flows from financing activities                                                                                       
  Policyholder account balances:                                                                                           
   Deposits............................................................................ $    61,647 $    55,586 $    44,481
   Withdrawals.........................................................................    (56,373)    (57,078)    (43,381)
  Net change in payables for collateral under securities loaned and other transactions.       2,181       3,266       2,352
  Net change in short-term debt........................................................         (1)         (1)       (217)
  Long-term debt issued................................................................          79         110         188
  Long-term debt repaid................................................................        (81)     (1,411)       (324)
  Dividends on common stock............................................................     (1,023)     (1,151)       (232)
  Capital contribution.................................................................          --          47          --
  Other, net...........................................................................         611          25        (33)
                                                                                        ----------- ----------- -----------
Net cash provided by (used in) financing activities....................................       7,040       (607)       2,834
                                                                                        ----------- ----------- -----------
Change in cash and cash equivalents....................................................       (688)     (1,396)         138
Cash and cash equivalents, beginning of year...........................................       2,089       3,485       3,347
                                                                                        ----------- ----------- -----------
Cash and cash equivalents, end of year................................................. $     1,401 $     2,089 $     3,485
                                                                                        =========== =========== ===========
Supplemental disclosures of cash flow information:                                                                         
  Net cash paid for:                                                                                                       
   Interest............................................................................ $       151 $       196 $       217
                                                                                        =========== =========== ===========
   Income tax.......................................................................... $       842 $       701 $       183
                                                                                        =========== =========== ===========
  Non-cash transactions:                                                                                                   
   Purchase money mortgage loans on sales of real estate joint ventures................ $        -- $        -- $         2
                                                                                        =========== =========== ===========
   Capital contributions from MetLife, Inc............................................. $         3 $         3 $         3
                                                                                        =========== =========== ===========
   Dividends to MetLife, Inc........................................................... $        -- $       170 $       399
                                                                                        =========== =========== ===========
   Real estate and real estate joint ventures acquired in satisfaction of debt......... $       264 $       151 $        58
                                                                                        =========== =========== ===========

See accompanying notes to the consolidated financial statements.  

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements  

1. Business, Basis of Presentation and Summary of Significant Accounting        
Policies                                                                        

Business                                                                        

Metropolitan Life Insurance Company and its subsidiaries (collectively,     
"MLIC" or the "Company") is a leading provider of insurance, annuities and      
employee benefit programs throughout the United States. The Company offers life 
insurance and annuities to individuals, as well as group insurance and          
retirement & savings products and services to corporations and other            
institutions. Metropolitan Life Insurance Company is a wholly-owned subsidiary  
of MetLife, Inc.                                                                

The Company is organized into three segments: Retail; Group, Voluntary &    
Worksite Benefits; and Corporate Benefit Funding. See Note 2 for information on 
the reorganization of the Company's segments during 2012, which were            
retrospectively applied.                                                        

Basis of Presentation                                                           

The preparation of financial statements in conformity with accounting       
principles generally accepted in the United States of America ("GAAP") requires 
management to adopt accounting policies and make estimates and assumptions that 
affect amounts reported in the consolidated financial statements. In applying   
these policies and estimates, management makes subjective and complex judgments 
that frequently require assumptions about matters that are inherently           
uncertain. Many of these policies, estimates and related judgments are common   
in the insurance and financial services industries; others are specific to the  
Company's business and operations. Actual results could differ from estimates.  

Consolidation                                                                   

The accompanying consolidated financial statements include the accounts of  
Metropolitan Life Insurance Company and its subsidiaries, as well as            
partnerships and joint ventures in which the Company has control, and variable  
interest entities ("VIEs") for which the Company is the primary beneficiary.    
Intercompany accounts and transactions have been eliminated.                    

Since the Company is a member of a controlled group of affiliated companies,
its results may not be indicative of those of a stand-alone entity.             

Discontinued Operations                                                         

The results of operations of a component of the Company that has either been
disposed of or is classified as held-for-sale are reported in discontinued      
operations if certain criteria are met. In order to qualify for a discontinued  
operation, the operations and cash flows of the component have been or will be  
eliminated from the ongoing operations of the Company, and the Company will not 
have any significant continuing involvement in the operations of the component  
after the disposal transaction.                                                 

Separate Accounts                                                               

Separate accounts are established in conformity with insurance laws and are 
generally not chargeable with liabilities that arise from any other business of 
the Company. Separate account assets are subject to general account claims only 
to the extent the value of such assets exceeds the separate account             
liabilities. The Company                                                        

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

reports separately, as assets and liabilities, investments held in separate     
accounts and liabilities of the separate accounts if:                           

.  such separate accounts are legally recognized;                       
.  assets supporting the contract liabilities are legally insulated from
the Company's general account liabilities;                        
.  investments are directed by the contractholder; and                  
.  all investment performance, net of contract fees and assessments, is 
passed through to the contractholder.                             

The Company reports separate account assets at their fair value, which is   
based on the estimated fair values of the underlying assets comprising the      
individual separate account portfolios. Investment performance (including       
investment income, net investment gains (losses) and changes in unrealized      
gains (losses)) and the corresponding amounts credited to contractholders of    
such separate accounts are offset within the same line in the consolidated      
statements of operations. Separate accounts credited with a contractual         
investment return are combined on a line-by-line basis with the Company's       
general account assets, liabilities, revenues and expenses and the accounting   
for these investments is consistent with the methodologies described herein for 
similar financial instruments held within the general account.                  

The Company's revenues reflect fees charged to the separate accounts,       
including mortality charges, risk charges, policy administration fees,          
investment management fees and surrender charges. Such fees are included in     
universal life and investment-type product policy fees in the consolidated      
statements of operations.                                                       

Reclassifications                                                               

Certain amounts in the prior years' consolidated financial statements and   
related footnotes thereto have been reclassified to conform with the current    
year presentation as discussed throughout the Notes to the Consolidated         
Financial Statements. See "-- Adoption of New Accounting Pronouncements" for    
discussion of accounting pronouncements adopted in 2012, which were             
retrospectively applied.                                                        

Summary of Significant Accounting Policies                                      

The following are the Company's significant accounting policies with        
references to notes providing additional information on such policies and       
critical accounting estimates relating to such policies.                        

                                                        [Enlarge/Download Table]
                                                                                                        
--------------------------------------------------------------------------------------------------------
Accounting Policy                                                                                   Note
--------------------------------------------------------------------------------------------------------
Insurance                                                                                              4
--------------------------------------------------------------------------------------------------------
Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles     5
--------------------------------------------------------------------------------------------------------
Reinsurance                                                                                            6
--------------------------------------------------------------------------------------------------------
Investments                                                                                            8
--------------------------------------------------------------------------------------------------------
Derivatives                                                                                            9
--------------------------------------------------------------------------------------------------------
Fair Value                                                                                            10
--------------------------------------------------------------------------------------------------------
Goodwill                                                                                              11
--------------------------------------------------------------------------------------------------------
Employee Benefit Plans                                                                                15
--------------------------------------------------------------------------------------------------------
Income Tax                                                                                            16
--------------------------------------------------------------------------------------------------------
Litigation Contingencies                                                                              17
--------------------------------------------------------------------------------------------------------

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Insurance                                                                       

Future Policy Benefit Liabilities and Policyholder Account Balances         

The Company establishes liabilities for amounts payable under insurance     
policies. Generally, amounts are payable over an extended period of time and    
related liabilities are calculated as the present value of future expected      
benefits to be paid reduced by the present value of future expected premiums.   
Such liabilities are established based on methods and underlying assumptions in 
accordance with GAAP and applicable actuarial standards. Principal assumptions  
used in the establishment of liabilities for future policy benefits are         
mortality, morbidity, policy lapse, renewal, retirement, disability incidence,  
disability terminations, investment returns, inflation, expenses and other      
contingent events as appropriate to the respective product type. These          
assumptions are established at the time the policy is issued and are intended   
to estimate the experience for the period the policy benefits are payable.      
Utilizing these assumptions, liabilities are established on a block of business 
basis. For long duration insurance contracts, assumptions such as mortality,    
morbidity and interest rates are "locked in" upon the issuance of new business. 
However, significant adverse changes in experience on such contracts may        
require the establishment of premium deficiency reserves. Such reserves are     
determined based on the then current assumptions and do not include a provision 
for adverse deviation.                                                          

Premium deficiency reserves may also be established for short duration      
contracts to provide for expected future losses. These reserves are based on    
actuarial estimates of the amount of loss inherent in that period, including    
losses incurred for which claims have not been reported. The provisions for     
unreported claims are calculated using studies that measure the historical      
length of time between the incurred date of a claim and its eventual reporting  
to the Company. Anticipated investment income is considered in the calculation  
of premium deficiency losses for short duration contracts.                      

Liabilities for universal and variable life secondary guarantees and paid-up
guarantees are determined by estimating the expected value of death benefits    
payable when the account balance is projected to be zero and recognizing those  
benefits ratably over the accumulation period based on total expected           
assessments. The assumptions used in estimating the secondary and paid-up       
guarantee liabilities are consistent with those used for amortizing deferred    
policy acquisition costs ("DAC"), and are thus subject to the same variability  
and risk as further discussed herein. The assumptions of investment performance 
and volatility for variable products are consistent with historical experience  
of appropriate underlying equity indices, such as the Standard & Poor's Ratings 
Services ("S&P") 500 Index. The benefits used in calculating the liabilities    
are based on the average benefits payable over a range of scenarios.            

The Company regularly reviews its estimates of liabilities for future policy
benefits and compares them with its actual experience. Differences result in    
changes to the liability balances with related charges or credits to benefit    
expenses in the period in which the changes occur.                              

Policyholder account balances ("PABs") relate to contract or contract       
features where the Company has no significant insurance risk.                   

The Company issues certain variable annuity products with guaranteed minimum
benefits that provide the policyholder a minimum return based on their initial  
deposit (i.e., the benefit base) less withdrawals. These guarantees are         
accounted for as insurance liabilities or as embedded derivatives depending on  
how and when the benefit is paid. Specifically, a guarantee is accounted for as 
an embedded derivative if a guarantee is paid without requiring (i) the         
occurrence of specific insurable event, or (ii) the policyholder to annuitize.  
Alternatively, a guarantee is accounted for as an insurance liability if the    
guarantee is paid only upon either (i) the occurrence of a                      

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

specific insurable event, or (ii) annuitization. In certain cases, a guarantee  
may have elements of both an insurance liability and an embedded derivative and 
in such cases the guarantee is split and accounted for under both models.       

Guarantees accounted for as insurance liabilities in future policy benefits 
include guaranteed minimum death benefits ("GMDBs"), the portion of guaranteed  
minimum income benefits ("GMIBs") that require annuitization, and the           
life-contingent portion of guaranteed minimum withdrawal benefits ("GMWBs").    

Guarantees accounted for as embedded derivatives in PABs include the non    
life-contingent portion of GMWB, guaranteed minimum accumulation benefits       
("GMABs") and the portion of GMIB that do not require annuitization. At         
inception, the Company attributes to the embedded derivative a portion of the   
projected future guarantee fees to be collected from the policyholder equal to  
the present value of projected future guaranteed benefits. Any additional fees  
represent "excess" fees and are reported in universal life and investment-type  
product policy fees.                                                            

Other Policy-Related Balances                                               

Other policy-related balances include policy and contract claims, unearned  
revenue liabilities, premiums received in advance, policyholder dividends due   
and unpaid and policyholder dividends left on deposit.                          

The liability for policy and contract claims generally relates to incurred  
but not reported death, disability, long-term care ("LTC") and dental claims,   
as well as claims which have been reported but not yet settled. The liability   
for these claims is based on the Company's estimated ultimate cost of settling  
all claims. The Company derives estimates for the development of incurred but   
not reported claims principally from analyses of historical patterns of claims  
by business line. The methods used to determine these estimates are continually 
reviewed. Adjustments resulting from this continuous review process and         
differences between estimates and payments for claims are recognized in         
policyholder benefits and claims expense in the period in which the estimates   
are changed or payments are made.                                               

The unearned revenue liability relates to universal life-type and           
investment-type products and represents policy charges for services to be       
provided in future periods. The charges are deferred as unearned revenue and    
amortized using the product's estimated gross profits and margins, similar to   
DAC as discussed further herein. Such amortization is recorded in universal     
life and investment-type product policy fees.                                   

The Company accounts for the prepayment of premiums on its individual life, 
group life and health contracts as premium received in advance and applies the  
cash received to premiums when due.                                             

Recognition of Insurance Revenues and Deposits                              

Premiums related to traditional life and annuity policies with life         
contingencies are recognized as revenues when due from policyholders.           
Policyholder benefits and expenses are provided to recognize profits over the   
estimated lives of the insurance policies. When premiums are due over a         
significantly shorter period than the period over which benefits are provided,  
any excess profit is deferred and recognized into earnings in a constant        
relationship to insurance in-force or, for annuities, the amount of expected    
future policy benefit payments.                                                 

Premiums related to non-medical health and disability contracts are         
recognized on a pro rata basis over the applicable contract term.               

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Deposits related to universal life-type and investment-type products are    
credited to PABs. Revenues from such contracts consist of fees for mortality,   
policy administration and surrender charges and are recorded in universal life  
and investment-type product policy fees in the period in which services are     
provided. Amounts that are charged to earnings include interest credited and    
benefit claims incurred in excess of related PABs.                              

Premiums, policy fees, policyholder benefits and expenses are presented net 
of reinsurance.                                                                 

Deferred Policy Acquisition Costs, Value of Business Acquired and Other         
Policy-Related Intangibles                                                      

The Company incurs significant costs in connection with acquiring new and   
renewal insurance business. Costs that are related directly to the successful   
acquisition or renewal of insurance contracts are capitalized as DAC. Such      
costs include:                                                                  

 .  incremental direct costs of contract acquisition, such as commissions;
  .  the portion of an employee's total compensation and benefits related to
    time spent selling, underwriting or processing the issuance of new and
      renewal insurance business only with respect to actual policies acquired
or renewed; and                                                   
.  other essential direct costs that would not have been incurred had a 
policy not been acquired or renewed.                              

All other acquisition-related costs, including those related to general     
advertising and solicitation, market research, agent training, product          
development, unsuccessful sales and underwriting efforts, as well as all        
indirect costs, are expensed as incurred.                                       

Value of business acquired ("VOBA") is an intangible asset resulting from a 
business combination that represents the excess of book value over the          
estimated fair value of acquired insurance, annuity, and investment-type        
contracts in-force at the acquisition date. The estimated fair value of the     
acquired liabilities is based on projections, by each block of business, of     
future policy and contract charges, premiums, mortality and morbidity, separate 
account performance, surrenders, operating expenses, investment returns,        
nonperformance risk adjustment and other factors. Actual experience on the      
purchased business may vary from these projections.                             

DAC and VOBA are amortized as follows:                                      

----------------------------------------------------------------------------- 
Products:                              In proportion to the following over    
                                 estimated lives of the contracts:
----------------------------------------------------------------------------- 
.  Non-participating and               Historic actual and expected future    
non-dividend-paying traditional     gross premiums.                     
contracts:                                                              
.  Term insurance                                                             
.  Non-participating whole life                                               
insurance                                                               
.  Traditional group life insurance                                           
.  Non-medical health insurance                                               
----------------------------------------------------------------------------- 
.  Participating, dividend-paying      Actual and expected future gross       
traditional contracts               margins.                            
----------------------------------------------------------------------------- 
.  Fixed and variable universal life   Actual and expected future gross       
contracts                           profits.                            
.  Fixed and variable deferred                                                
annuity contracts                                                       
----------------------------------------------------------------------------- 

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

See Note 5 for additional information on DAC and VOBA amortization.         

The recovery of DAC and VOBA is dependent upon the future profitability of  
the related business. DAC and VOBA are aggregated in the consolidated financial 
statements for reporting purposes.                                              

The Company generally has two different types of sales inducements which are
included in other assets: (i) the policyholder receives a bonus whereby the     
policyholder's initial account balance is increased by an amount equal to a     
specified percentage of the customer's deposit; and (ii) the policyholder       
receives a higher interest rate using a dollar cost averaging method than would 
have been received based on the normal general account interest rate credited.  
The Company defers sales inducements and amortizes them over the life of the    
policy using the same methodology and assumptions used to amortize DAC. The     
amortization of sales inducements is included in policyholder benefits and      
claims. Each year, or more frequently if circumstances indicate a potential     
recoverability issue exists, the Company reviews deferred sales inducements to  
determine the recoverability of the asset.                                      

Value of distribution agreements acquired ("VODA") is reported in other     
assets and represents the present value of expected future profits associated   
with the expected future business derived from the distribution agreements      
acquired as part of a business combination. Value of customer relationships     
acquired ("VOCRA") is also reported in other assets and represents the present  
value of the expected future profits associated with the expected future        
business acquired through existing customers of the acquired company or         
business. The VODA and VOCRA associated with past business combinations are     
amortized over useful lives ranging from 10 to 30 years and such amortization   
is included in other expenses. Each year, or more frequently if circumstances   
indicate a possible impairment exists, the Company reviews VODA and VOCRA to    
determine whether the asset is impaired.                                        

Reinsurance                                                                     

For each of its reinsurance agreements, the Company determines whether the  
agreement provides indemnification against loss or liability relating to        
insurance risk in accordance with applicable accounting standards. Cessions     
under reinsurance agreements do not discharge the Company's obligations as the  
primary insurer. The Company reviews all contractual features, particularly     
those that may limit the amount of insurance risk to which the reinsurer is     
subject or features that delay the timely reimbursement of claims.              

For reinsurance of existing in-force blocks of long-duration contracts that 
transfer significant insurance risk, the difference, if any, between the        
amounts paid (received), and the liabilities ceded (assumed) related to the     
underlying contracts is considered the net cost of reinsurance at the inception 
of the reinsurance agreement. The net cost of reinsurance is recorded as an     
adjustment to DAC and recognized as a component of other expenses on a basis    
consistent with the way the acquisition costs on the underlying reinsured       
contracts would be recognized. Subsequent amounts paid (received) on the        
reinsurance of in-force blocks, as well as amounts paid (received) related to   
new business, are recorded as ceded (assumed) premiums and ceded (assumed)      
future policy benefit liabilities are established.                              

For prospective reinsurance of short-duration contracts that meet the       
criteria for reinsurance accounting, amounts paid (received) are recorded as    
ceded (assumed) premiums and ceded (assumed) unearned premiums and are          
reflected as a component of premiums, reinsurance and other receivables (future 
policy benefits). Such amounts are amortized through earned premiums over the   
remaining contract period in proportion to the amount of insurance protection   
provided. For retroactive reinsurance of short-duration contracts that meet the 
criteria of reinsurance accounting, amounts paid (received) in excess of the    
related insurance liabilities ceded (assumed) are                               

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

recognized immediately as a loss and are reported in the appropriate line item  
within the consolidated statement of operations. Any gain on such retroactive   
agreement is deferred and is amortized as part of DAC, primarily using the      
recovery method.                                                                

Ceded policyholder and contract related liabilities, other than those       
currently due, are reported gross on the consolidated balance sheet.            

Amounts currently recoverable under reinsurance agreements are included in  
premiums, reinsurance and other receivables and amounts currently payable are   
included in other liabilities. Assets and liabilities relating to reinsurance   
agreements with the same reinsurer may be recorded net on the consolidated      
balance sheet, if a right of offset exists within the reinsurance agreement. In 
the event that reinsurers do not meet their obligations to the Company under    
the terms of the reinsurance agreements, reinsurance recoverable balances could 
become uncollectible. In such instances, reinsurance recoverable balances are   
stated net of allowances for uncollectible reinsurance.                         

The funds withheld liability represents amounts withheld by the Company in  
accordance with the terms of the reinsurance agreements. The Company withholds  
the funds rather than transferring the underlying investments and, as a result, 
records funds withheld liability within other liabilities. The Company          
recognizes interest on funds withheld, included in other expenses, at rates     
defined by the terms of the agreement which may be contractually specified or   
directly related to the investment portfolio.                                   

Premiums, fees and policyholder benefits and claims include amounts assumed 
under reinsurance agreements and are net of reinsurance ceded. Amounts received 
from reinsurers for policy administration are reported in other revenues. With  
respect to GMIBs, a portion of the directly written GMIBs are accounted for as  
insurance liabilities, but the associated reinsurance agreements contain        
embedded derivatives. These embedded derivatives are included in premiums,      
reinsurance and other receivables with changes in estimated fair value reported 
in net derivative gains (losses).                                               

If the Company determines that a reinsurance agreement does not expose the  
reinsurer to a reasonable possibility of a significant loss from insurance      
risk, the Company records the agreement using the deposit method of accounting. 
Deposits received are included in other liabilities and deposits made are       
included within premiums, reinsurance and other receivables. As amounts are     
paid or received, consistent with the underlying contracts, the deposit assets  
or liabilities are adjusted. Interest on such deposits is recorded as other     
revenues or other expenses, as appropriate. Periodically, the Company evaluates 
the adequacy of the expected payments or recoveries and adjusts the deposit     
asset or liability through other revenues or other expenses, as appropriate.    

Investments                                                                   

Net Investment Income                                                       

Income on investments is reported within net investment income, unless  
otherwise stated herein.                                                    

Fixed Maturity and Equity Securities                                        

The majority of the Company's fixed maturity and equity securities are  
classified as available-for-sale ("AFS") and are reported at their estimated
fair value. Unrealized investment gains and losses on these securities are  
recorded as a separate component of other comprehensive income (loss)       
("OCI"), net of policyholder-related amounts and deferred income taxes. All 
security transactions are recorded on a trade date basis. Investment gains  
and losses on sales are determined on a specific identification basis.      

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Interest income on fixed maturity securities is recognized when earned  
 using an effective yield method giving effect to amortization of premiums and
 accretion of discounts. Prepayment fees are recognized when earned. Dividends
on equity securities are recognized when declared.                          

   The Company periodically evaluates fixed maturity and equity securities for
impairment. The assessment of whether impairments have occurred is based on 
management's case-by-case evaluation of the underlying reasons for the      
decline in estimated fair value and an analysis of the gross unrealized     
losses by severity and/or age. The analysis of gross unrealized losses is   
described further in Note 8 "-- Evaluation of AFS Securities for OTTI and   
Evaluating Temporarily Impaired AFS Securities."                            

For fixed maturity securities in an unrealized loss position, an        
 other-than-temporary impairment ("OTTI") is recognized in earnings when it is
anticipated that the amortized cost will not be recovered. When either:     
(i) the Company has the intent to sell the security; or (ii) it is more     
 likely than not that the Company will be required to sell the security before
recovery, the OTTI recognized in earnings is the entire difference between  
the security's amortized cost and estimated fair value. If neither of these 
conditions exist, the difference between the amortized cost of the security 
 and the present value of projected future cash flows expected to be collected
is recognized as an OTTI in earnings ("credit loss"). If the estimated fair 
value is less than the present value of projected future cash flows expected
to be collected, this portion of OTTI related to other-than-credit factors  
("noncredit loss") is recorded in OCI. Adjustments are not made for         
subsequent recoveries in value.                                             

With respect to equity securities, the Company considers in its OTTI    
analysis its intent and ability to hold a particular equity security for a  
period of time sufficient to allow for the recovery of its estimated fair   
value to an amount equal to or greater than cost. If a sale decision is made
 for an equity security and recovery to an amount at least equal to cost prior
to the sale is not expected, the security will be deemed to be              
 other-than-temporarily impaired in the period that the sale decision was made
and an OTTI loss will be recorded in earnings. The OTTI loss recognized is  
the entire difference between the security's cost and its estimated fair    
value with a corresponding charge to earnings.                              

Trading and Fair Value Option Securities                                    

   Trading and fair value option securities are stated at estimated fair value
and include investments for which the fair value option ("FVO") has been    
elected ("FVO Securities") and investments that are actively purchased and  
sold ("Actively Traded Securities").                                        

Actively Traded Securities principally include fixed maturity securities
  and short sale agreement liabilities, which are included in other liabilities.

FVO Securities include:                                                 

  .  fixed maturity and equity securities held-for-investment by the general
    account to support asset and liability matching strategies for certain
insurance products; and                                           
   .  securities held by consolidated securitization entities ("CSEs") (former
  qualifying special purpose entities), with changes in estimated fair
value subsequent to consolidation included in net investment gains
(losses).                                                         

  Changes in estimated fair value of these securities subsequent to purchase
 are included in net investment income, except for certain securities included
  in FVO Securities where changes are included in net investment gains (losses).

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Mortgage Loans                                                              

The Company disaggregates its mortgage loan investments into three      
 portfolio segments: commercial, agricultural, and residential. The accounting
and valuation allowance policies that are applicable to all portfolio       
segments are presented below and policies related to each of the portfolio  
segments are included in Note 8.                                            

Mortgage loans are stated at unpaid principal balance, adjusted for any 
unamortized premium or discount, deferred fees or expenses, and are net of  
 valuation allowances. Interest income and prepayment fees are recognized when
earned. Interest is accrued on the principal amount of the loan based on the
loan's contractual interest rate, while amortization of premiums and        
discounts is recognized using the effective yield method. Gains and losses  
from sales of loans and increases or decreases to valuation allowances are  
recorded in net investment gains (losses).                                  

Policy Loans                                                                

Policy loans are stated at unpaid principal balances. Interest income on
such loans is recorded as earned using the contractual interest rate.       
Generally, accrued interest is capitalized on the policy's anniversary date.
Valuation allowances are not established for policy loans, as they are fully
collateralized by the cash surrender value of the underlying insurance      
policies. Any unpaid principal or interest on the loan is deducted from the 
cash surrender value or the death benefit prior to settlement of the        
insurance policy.                                                           

Real Estate                                                                 

Real estate held-for-investment is stated at cost less accumulated      
depreciation. Depreciation is provided on a straight-line basis over the    
estimated useful life of the asset (typically 20 to 55 years). Rental income
associated with such real estate is recognized on a straight-line basis over
the term of the respective leases. The Company periodically reviews its real
estate held-for-investment for impairment and tests for recoverability      
whenever events or changes in circumstances indicate the carrying value may 
not be recoverable and exceeds its estimated fair value. Properties whose   
carrying values are greater than their undiscounted cash flows are written  
down to their estimated fair value, which is generally computed using the   
 present value of expected future cash flows discounted at a rate commensurate
with the underlying risks.                                                  

   Real estate for which the Company commits to a plan to sell within one year
and actively markets in its current condition for a reasonable price in     
comparison to its estimated fair value is classified as held for sale. Real 
estate held-for-sale is stated at the lower of depreciated cost or estimated
fair value less expected disposition costs and is not depreciated.          

   Real estate acquired upon foreclosure is recorded at the lower of estimated
fair value or the carrying value of the mortgage loan at the date of        
foreclosure.                                                                

Real Estate Joint Ventures and Other Limited Partnership Interests          

The Company uses the equity method of accounting for investments in real
 estate joint ventures and other limited partnership interests in which it has
more than a minor ownership interest or more than a minor influence over the
joint venture's or partnership's operations, but does not have a controlling
financial interest. Equity method investment income is recognized as earned 
by the investee. The Company records its share of earnings using a          
three-month lag methodology for instances where the timely financial        
information is not available and the contractual agreements provide for the 
delivery of the investees' financial information after the end of the       
Company's reporting period.                                                 

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

  The Company uses the cost method of accounting for investments in which it
has virtually no influence over the joint venture's or the partnership's    
operations. Based on the nature and structure of these investments, they do 
not meet the characteristics of an equity security in accordance with       
 applicable accounting standards. The Company recognizes distributions on cost
method investments as earned or received.                                   

In addition to the investees performing regular evaluations for the     
impairment of underlying investments, the Company routinely evaluates these 
investments for impairments. For equity method investees, the Company       
considers financial and other information provided by the investee, other   
known information and inherent risks in the underlying investments, as well 
as future capital commitments, in determining whether an impairment has     
 occurred. The Company considers its cost method investments for OTTI when the
carrying value of such investments exceeds the net asset value ("NAV"). The 
Company takes into consideration the severity and duration of this excess   
 when determining whether the cost method investment is other-than-temporarily
impaired. When an OTTI has occurred, the impairment loss is recorded within 
net investment gains (losses).                                              

Short-term Investments                                                      

Short-term investments include securities and other investments with    
remaining maturities of one year or less, but greater than three months, at 
the time of purchase and are stated at estimated fair value or amortized    
cost, which approximates estimated fair value. Short-term investments also  
include investments in affiliated money market pools.                       

Other Invested Assets                                                       

Other invested assets consist principally of the following:             

.  Freestanding derivatives with positive estimated fair values are     
described in "-- Derivatives" below.                              
   .  Tax credit partnerships derive their primary source of investment return
      in the form of income tax credits. Where tax credits are guaranteed by a
 creditworthy third party, the investment is accounted for under the
      effective yield method. Otherwise, the investment is accounted for under
the equity method.                                                
   .  Loans to affiliates are stated at unpaid principal balance, adjusted for
any unamortized premium or discount.                              
.  Leveraged leases are recorded net of non-recourse debt. The Company  
 recognizes income on the leveraged leases by applying the leveraged
      lease's estimated rate of return to the net investment in the lease. The
    Company regularly reviews residual values and impairs them to expected
values.                                                           
   .  Funds withheld represent a receivable for amounts contractually withheld
by ceding companies in accordance with reinsurance agreements. The
   Company recognizes interest on funds withheld at rates defined by the
     terms of the agreement which may be contractually specified or directly
related to the underlying investments.                            
.  Joint venture investments that engage in insurance underwriting      
activities are accounted for under the equity method.             

Securities Lending Program                                                  

Securities lending transactions, whereby blocks of securities, which are    
included in fixed maturity securities, equity securities, and short-term        
investments, are loaned to third parties, primarily brokerage firms and         

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

commercial banks, and are treated as financing arrangements and the associated  
liability is recorded at the amount of cash received. The Company obtains       
collateral at the inception of the loan, usually cash, in an amount generally   
equal to 102% of the estimated fair value of the securities loaned, and         
maintains it at a level greater than or equal to 100% for the duration of the   
loan. The Company is liable to return to the counterparties the cash collateral 
received. Security collateral on deposit from counterparties in connection with 
the securities lending transactions may not be sold or repledged, unless the    
counterparty is in default, and is not reflected in the consolidated financial  
statements. The Company monitors the estimated fair value of the securities     
loaned on a daily basis with additional collateral obtained as necessary.       
Income and expenses associated with securities lending transactions are         
reported as investment income and investment expense, respectively, within net  
investment income.                                                              

Derivatives                                                                     

Freestanding Derivatives                                                    

Freestanding derivatives are carried in the Company's consolidated balance  
sheets either as assets within other invested assets or as liabilities within   
other liabilities at estimated fair value. The Company does not offset the fair 
value amounts recognized for derivatives executed with the same counterparty    
under the same master netting agreement.                                        

Accruals on derivatives are generally recorded in accrued investment income 
or within other liabilities. However, accruals that are not scheduled to settle 
within one year are included with the derivatives carrying value in other       
invested assets or other liabilities.                                           

If a derivative is not designated as an accounting hedge or its use in      
managing risk does not qualify for hedge accounting, changes in the estimated   
fair value of the derivative are reported in net derivative gains (losses)      
except as follows:                                                              

------------------------------------------------------------------------------- 
Statement of Operations Presentation:    Derivative:                        
------------------------------------------------------------------------------- 
Net investment income                  .  Economic hedges of equity method  
                                     investments in joint ventures
                                     .  All derivatives held in relation
                             to trading portfolios
------------------------------------------------------------------------------- 

Hedge Accounting                                                            

To qualify for hedge accounting, at the inception of the hedging            
relationship, the Company formally documents its risk management objective and  
strategy for undertaking the hedging transaction, as well as its designation of 
the hedge. Hedge designation and financial statement presentation of changes in 
estimated fair value of the hedging derivatives are as follows:                 

.  Fair value hedge (a hedge of the estimated fair value of a recognized    
 asset or liability) - in net derivative gains (losses), consistent with
    the change in fair value of the hedged item attributable to the designated
risk being hedged.                                                    
 .  Cash flow hedge (a hedge of a forecasted transaction or of the variability
of cash flows to be received or paid related to a recognized asset or 
liability)--effectiveness in OCI (deferred gains or losses on the     
   derivative are reclassified into the consolidated statement of operations
   when the Company's earnings are affected by the variability in cash flows
of the hedged item); ineffectiveness in net derivative gains (losses).

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

The change in estimated fair values of the hedging derivatives are exclusive
of any accruals that are separately reported in the consolidated statement of   
operations within interest income or interest expense to match the location of  
the hedged item.                                                                

 In its hedge documentation, the Company sets forth how the hedging instrument
is expected to hedge the designated risks related to the hedged item and sets   
forth the method that will be used to retrospectively and prospectively assess  
the hedging instrument's effectiveness and the method that will be used to      
measure ineffectiveness. A derivative designated as a hedging instrument must   
be assessed as being highly effective in offsetting the designated risk of the  
hedged item. Hedge effectiveness is formally assessed at inception and at least 
quarterly throughout the life of the designated hedging relationship.           
Assessments of hedge effectiveness and measurements of ineffectiveness are also 
subject to interpretation and estimation and different interpretations or       
estimates may have a material effect on the amount reported in net income.      

The Company discontinues hedge accounting prospectively when: (i) it is     
determined that the derivative is no longer highly effective in offsetting      
changes in the estimated fair value or cash flows of a hedged item; (ii) the    
derivative expires, is sold, terminated, or exercised; (iii) it is no longer    
probable that the hedged forecasted transaction will occur; or (iv) the         
derivative is de-designated as a hedging instrument.                            

When hedge accounting is discontinued because it is determined that the     
derivative is not highly effective in offsetting changes in the estimated fair  
value or cash flows of a hedged item, the derivative continues to be carried in 
the consolidated balance sheets at its estimated fair value, with changes in    
estimated fair value recognized in net derivative gains (losses). The carrying  
value of the hedged recognized asset or liability under a fair value hedge is   
no longer adjusted for changes in its estimated fair value due to the hedged    
risk, and the cumulative adjustment to its carrying value is amortized into     
income over the remaining life of the hedged item. Provided the hedged          
forecasted transaction is still probable of occurrence, the changes in          
estimated fair value of derivatives recorded in OCI related to discontinued     
cash flow hedges are released into the consolidated statements of operations    
when the Company's earnings are affected by the variability in cash flows of    
the hedged item.                                                                

When hedge accounting is discontinued because it is no longer probable that 
the forecasted transactions will occur on the anticipated date or within two    
months of that date, the derivative continues to be carried in the consolidated 
balance sheets at its estimated fair value, with changes in estimated fair      
value recognized currently in net derivative gains (losses). Deferred gains and 
losses of a derivative recorded in OCI pursuant to the discontinued cash flow   
hedge of a forecasted transaction that is no longer probable are recognized     
immediately in net derivative gains (losses).                                   

In all other situations in which hedge accounting is discontinued, the      
derivative is carried at its estimated fair value in the consolidated balance   
sheets, with changes in its estimated fair value recognized in the current      
period as net derivative gains (losses).                                        

Embedded Derivatives                                                        

The Company sells variable annuities and purchases certain investments that 
contain embedded derivatives. The Company assesses each identified embedded     
derivative to determine whether it is required to be bifurcated. The embedded   
derivative is bifurcated from the host contract and accounted for as a          
freestanding derivative if:                                                     

 .  the combined instrument is not accounted for in its entirety at fair value
with changes in fair value recorded in earnings;                      

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

.  the terms of the embedded derivative are not clearly and closely related 
to the economic characteristics of the host contract; and             
 .  a separate instrument with the same terms as the embedded derivative would
qualify as a derivative instrument.                                   

Such embedded derivatives are carried in the consolidated balance sheets at 
estimated fair value with the host contract and changes in their estimated fair 
value are generally reported in net derivative gains (losses). If the Company   
is unable to properly identify and measure an embedded derivative for           
separation from its host contract, the entire contract is carried on the        
balance sheet at estimated fair value, with changes in estimated fair value     
recognized in the current period in net investment gains (losses) or net        
investment income. Additionally, the Company may elect to carry an entire       
contract on the balance sheet at estimated fair value, with changes in          
estimated fair value recognized in the current period in net investment gains   
(losses) or net investment income if that contract contains an embedded         
derivative that requires bifurcation. At inception, the Company attributes to   
the embedded derivative a portion of the projected future guarantee fees to be  
collected from the policyholder equal to the present value of projected future  
guaranteed benefits. Any additional fees represent "excess" fees and are        
reported in universal life and investment-type product policy fees.             

Fair Value                                                                      

Certain assets and liabilities are measured at estimated fair value in the  
Company's consolidated balance sheets. In addition, the notes to these          
consolidated financial statements include further disclosures of estimated fair 
values. The Company defines fair value as the price that would be received to   
sell an asset or paid to transfer a liability (an exit price) in the principal  
or most advantageous market for the asset or liability in an orderly            
transaction between market participants on the measurement date. In most cases, 
the exit price and the transaction (or entry) price will be the same at initial 
recognition.                                                                    

 Subsequent to initial recognition, fair values are based on unadjusted quoted
prices for identical assets or liabilities in active markets that are readily   
and regularly obtainable. When such quoted prices are not available, fair       
values are based on quoted prices in markets that are not active, quoted prices 
for similar but not identical assets or liabilities, or other observable        
inputs. If these inputs are not available, or observable inputs are not         
determinative, unobservable inputs and/or adjustments to observable inputs      
requiring management judgment are used to determine the fair value of assets    
and liabilities.                                                                

Goodwill                                                                        

Goodwill, which is included in other assets, represents the future economic 
benefits arising from net assets acquired in a business combination that are    
not individually identified and recognized. Goodwill is calculated as the       
excess of cost over the estimated fair value of such net assets acquired, is    
not amortized, and is tested for impairment based on a fair value approach at   
least annually or more frequently if events or circumstances indicate that      
there may be justification for conducting an interim test. The Company performs 
its annual goodwill impairment testing during the third quarter of each year    
based upon data as of the close of the second quarter. Goodwill associated with 
a business acquisition is not tested for impairment during the year the         
business is acquired unless there is a significant identified impairment event. 

The impairment test is performed at the reporting unit level, which is the  
operating segment or a business one level below the operating segment, if       
discrete financial information is prepared and regularly reviewed by management 
at that level. For purposes of goodwill impairment testing, if the carrying     
value of a reporting unit                                                       

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

exceeds its estimated fair value, there may be an indication of impairment. In  
such instances, the implied fair value of the goodwill is determined in the     
same manner as the amount of goodwill that would be determined in a business    
combination. The excess of the carrying value of goodwill over the implied fair 
value of goodwill would be recognized as an impairment and recorded as a charge 
against net income.                                                             

On an ongoing basis, the Company evaluates potential triggering events that 
may affect the estimated fair value of the Company's reporting units to assess  
whether any goodwill impairment exists. Deteriorating or adverse market         
conditions for certain reporting units may have an impact on the estimated fair 
value of these reporting units and could result in future impairments of        
goodwill.                                                                       

Employee Benefit Plans                                                          

The Company sponsors and administers various qualified and non-qualified    
defined benefit pension plans and other postretirement employee benefit plans   
covering eligible employees and sales representatives who meet specified        
eligibility requirements of the sponsor and its participating affiliates. A     
December 31 measurement date is used for all of the Company's defined benefit   
pension and other postretirement benefit plans.                                 

The Company recognizes the funded status of the projected pension benefit   
obligation ("PBO") for pension benefits and the accumulated pension benefit     
obligation ("APBO") for other postretirement benefits for each of its plans.    
The Company recognizes an expense for differences between actual experience and 
estimates over the average future service period of participants. The actuarial 
gains or losses, prior service costs and credits not yet included in net        
periodic benefit costs are charged to accumulated OCI ("AOCI"), net of income   
tax.                                                                            

The Company also sponsors defined contribution plans for substantially all  
U.S. employees under which a portion of participant contributions is matched.   
Applicable matching contributions are made each payroll period. Accordingly,    
the Company recognizes compensation cost for current matching contributions. As 
all contributions are transferred currently as earned to the defined            
contribution plans, no liability for matching contributions is recognized in    
the consolidated balance sheets.                                                

Income Tax                                                                      

 Metropolitan Life Insurance Company and its includable subsidiaries join with
MetLife, Inc. and its includable subsidiaries in filing a consolidated          
U.S. life and non-life federal income tax return in accordance with the         
provisions of the Internal Revenue Code of 1986, as amended (the "Code").       
Metropolitan Life Insurance Company and its includable subsidiaries participate 
in a tax sharing agreement with MetLife, Inc.                                   

The Company's accounting for income taxes represents management's best      
estimate of various events and transactions.                                    

Deferred tax assets and liabilities resulting from temporary differences    
between the financial reporting and tax bases of assets and liabilities are     
measured at the balance sheet date using enacted tax rates expected to apply to 
taxable income in the years the temporary differences are expected to reverse.  

The realization of deferred tax assets depends upon the existence of        
sufficient taxable income within the carryback or carryforward periods under    
the tax law in the applicable tax jurisdiction. Valuation allowances are        
established when management determines, based on available information, that it 
is more likely than not that deferred income tax assets will not be realized.   
Factors in management's determination include the performance                   

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

of the business and its ability to generate capital gains. Significant judgment 
is required in determining whether valuation allowances should be established,  
as well as the amount of such allowances. When making such determination,       
consideration is given to, among other things, the following:                   

.  future taxable income exclusive of reversing temporary differences and   
carryforwards;                                                        
.  future reversals of existing taxable temporary differences;              
.  taxable income in prior carryback years; and                             
.  tax planning strategies.                                                 

The Company may be required to change its provision for income taxes in     
certain circumstances. Examples of such circumstances include when estimates    
used in determining valuation allowances on deferred tax assets significantly   
change or when receipt of new information indicates the need for adjustment in  
valuation allowances. Additionally, future events, such as changes in tax laws, 
tax regulations, or interpretations of such laws or regulations, could have an  
impact on the provision for income tax and the effective tax rate. Any such     
changes could significantly affect the amounts reported in the consolidated     
financial statements in the year these changes occur.                           

 The Company determines whether it is more likely than not that a tax position
will be sustained upon examination by the appropriate taxing authorities before 
any part of the benefit can be recorded in the financial statements. A tax      
position is measured at the largest amount of benefit that is greater than 50%  
likely of being realized upon settlement. Unrecognized tax benefits due to tax  
uncertainties that do not meet the threshold are included within other          
liabilities and are charged to earnings in the period that such determination   
is made.                                                                        

The Company classifies interest recognized as interest expense and penalties
recognized as a component of income tax.                                        

Litigation Contingencies                                                        

The Company is a party to a number of legal actions and is involved in a    
number of regulatory investigations. Given the inherent unpredictability of     
these matters, it is difficult to estimate the impact on the Company's          
financial position. Liabilities are established when it is probable that a loss 
has been incurred and the amount of the loss can be reasonably estimated.       
Except as otherwise disclosed in Note 17, legal costs are recognized in other   
expenses as incurred. On a quarterly and annual basis, the Company reviews      
relevant information with respect to liabilities for litigation, regulatory     
investigations and litigation-related contingencies to be reflected in the      
Company's consolidated financial statements.                                    

Other Accounting Policies                                                       

Stock-Based Compensation                                                    

Stock-based compensation recognized in the Company's consolidated results of
operations is allocated from MetLife, Inc. The accounting policies described    
below represent those that MetLife, Inc. applies in determining such allocated  
expenses.                                                                       

 MetLife, Inc. grants certain employees and directors stock-based compensation
awards under various plans that are subject to specific vesting conditions. The 
cost of all stock-based transactions is measured at fair value at grant date    
and recognized over the period during which a grantee is required to provide    
services in exchange for                                                        

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

the award. Although the terms of MetLife, Inc.'s stock-based plans do not       
accelerate vesting upon retirement, or the attainment of retirement             
eligibility, the requisite service period subsequent to attaining such          
eligibility is considered nonsubstantive. Accordingly, MetLife, Inc. recognizes 
compensation expense related to stock-based awards over the shorter of the      
requisite service period or the period to attainment of retirement eligibility. 
An estimation of future forfeitures of stock-based awards is incorporated into  
the determination of compensation expense when recognizing expense over the     
requisite service period.                                                       

Cash and Cash Equivalents                                                   

The Company considers all highly liquid securities and other investments    
purchased with an original or remaining maturity of three months or less at the 
date of purchase to be cash equivalents. Cash equivalents are stated at         
amortized cost, which approximates estimated fair value.                        

Property, Equipment, Leasehold Improvements and Computer Software           

Property, equipment and leasehold improvements, which are included in other 
assets, are stated at cost, less accumulated depreciation and amortization.     
Depreciation is determined using the straight-line method over the estimated    
useful lives of the assets, as appropriate. The estimated life is generally 40  
years for company occupied real estate property, from five to 10 years for      
leasehold improvements, and from three to seven years for all other property    
and equipment. The cost basis of the property, equipment and leasehold          
improvements was $1.7 billion at both December 31, 2012 and 2011. Accumulated   
depreciation and amortization of property, equipment and leasehold improvements 
was $1.0 billion and $999 million at December 31, 2012 and 2011, respectively.  
Related depreciation and amortization expense was $121 million, $118 million    
and $111 million for the years ended December 31, 2012, 2011 and 2010,          
respectively.                                                                   

 Computer software, which is included in other assets, is stated at cost, less
accumulated amortization. Purchased software costs, as well as certain internal 
and external costs incurred to develop internal-use computer software during    
the application development stage, are capitalized. Such costs are amortized    
generally over a four-year period using the straight-line method. The cost      
basis of computer software was $902 million and $1.6 billion at December 31,    
2012 and 2011, respectively. Accumulated amortization of capitalized software   
was $611 million and $1.2 billion at December 31, 2012 and 2011, respectively.  
Related amortization expense was $143 million, $145 million and $132 million    
for the years ended December 31, 2012, 2011 and 2010, respectively.             

Other Revenues                                                              

Other revenues include, in addition to items described elsewhere herein,    
advisory fees, broker-dealer commissions and fees, administrative service fees, 
and changes in account value relating to corporate-owned life insurance         
("COLI"). Such fees and commissions are recognized in the period in which       
services are performed. Under certain COLI contracts, if the Company reports    
certain unlikely adverse results in its consolidated financial statements,      
withdrawals would not be immediately available and would be subject to market   
value adjustment, which could result in a reduction of the account value.       

Policyholder Dividends                                                      

Policyholder dividends are approved annually by Metropolitan Life Insurance 
Company and its insurance subsidiaries' boards of directors. The aggregate      
amount of policyholder dividends is related to actual interest, mortality,      
morbidity and expense experience for the year, as well as management's judgment 
as to the                                                                       

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

appropriate level of statutory surplus to be retained by Metropolitan Life      
Insurance Company and its insurance subsidiaries.                               

Foreign Currency                                                            

 Assets, liabilities and operations of foreign affiliates and subsidiaries, if
any, are recorded based on the functional currency of each entity. The          
determination of the functional currency is made based on the appropriate       
economic and management indicators. The local currencies of foreign operations  
are the functional currencies. Assets and liabilities of foreign affiliates and 
subsidiaries, if any, are translated from the functional currency to            
U.S. dollars at the exchange rates in effect at each year-end and income and    
expense accounts are translated at the average exchange rates during the year.  
The resulting translation adjustments are charged or credited directly to OCI,  
net of applicable taxes. Gains and losses from foreign currency transactions,   
including the effect of re-measurement of monetary assets and liabilities to    
the appropriate functional currency, are reported as part of net investment     
gains (losses) in the period in which they occur.                               

Adoption of New Accounting Pronouncements                                       

 On January 1, 2012, the Company adopted new guidance regarding accounting for
DAC, which was retrospectively applied. The guidance specifies that only costs  
related directly to successful acquisition of new or renewal contracts can be   
capitalized as DAC; all other acquisition-related costs must be expensed as     
incurred. As a result, certain sales manager compensation and administrative    
costs previously capitalized by the Company will no longer be deferred.         

The following table presents the effects of the retrospective application of
the adoption of such new accounting guidance to the Company's previously        
reported consolidated balance sheet:                                            

                                                        [Enlarge/Download Table]

                                                           As Previously Reported     Adjustment          As Adjusted    
                                                         ------------------------ ------------------- -------------------
                                                            December 31, 2011       December 31, 2011   December 31, 2011
                                                         ------------------------ ------------------- -------------------
                                                                                  (In millions)                          
                                                                                                                         
Assets                                                                                                                   
  Other invested assets, principally at estimated fair                                                                   
   value................................................   $             12,505   $              (27) $           12,478 
  Deferred policy acquisition costs and value of                                                                         
   business acquired (1)................................   $              7,779   $           (1,438) $            6,341 
Liabilities                                                                                                              
  Deferred income tax liability.........................   $              2,827   $             (503) $            2,324 
Equity                                                                                                                   
  Retained earnings.....................................   $              8,077   $           (1,104) $            6,973 
  Accumulated other comprehensive income (loss).........   $              2,912   $               142 $            3,054 
  Total Metropolitan Life Insurance Company                                                                              
   stockholder's equity.................................                 25,500                 (962)             24,538 
  Total equity..........................................   $             25,682   $             (962) $           24,720 

--------                                                                        

(1)VOBA was not impacted by the adoption of this guidance.                      

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

The following table presents the effects of the retrospective application of
the adoption of such new accounting guidance to the Company's previously        
reported consolidated statements of operations:                                 

                                                        [Enlarge/Download Table]

                                        As Previously Reported        Adjustment              As Adjusted          
                                      --------------------------- ------------------------ ------------------------
                                       Years Ended December 31,   Years Ended December 31, Years Ended December 31,
                                      --------------------------- ------------------------ ------------------------
                                            2011          2010       2011        2010          2011         2010   
                                      ------------- -------------  ----------    -------   --------     --------   
                                                               (In millions)                                       
                                                                                                                   
Revenues                                                                                                           
  Net investment income.............. $  11,621 (1) $  11,586 (1) $      (6)    $   (5)    $11,615      $11,581    
Expenses                                                                                                           
  Other expenses..................... $       6,414 $       6,259 $       57    $    23    $ 6,471      $ 6,282    
  Income (loss) from continuing                                                                                    
   operations before provision for                                                                                 
   income tax........................ $   4,807 (1) $   2,537 (1) $     (63)    $  (28)    $ 4,744      $ 2,509    
  Provision for income tax expense                                                                                 
   (benefit)......................... $   1,479 (1) $     776 (1) $     (19)    $   (7)    $ 1,460      $   769    
  Income (loss) from continuing                                                                                    
   operations, net of income tax..... $   3,328 (1) $   1,761 (1) $     (44)    $  (21)    $ 3,284      $ 1,740    
  Net income (loss).................. $       3,389 $       1,792 $     (44)    $  (21)    $ 3,345      $ 1,771    
  Net income (loss) attributable to                                                                                
   Metropolitan Life Insurance                                                                                     
   Company........................... $       3,397 $       1,795 $     (44)    $  (21)    $ 3,353      $ 1,774    

--------                                                                        

(1)Amounts in the table above differ from the amounts previously reported in    
the consolidated statements of operations and comprehensive income due to 
the inclusion of the impact of discontinued real estate operations of     
 $4 million ($6 million net investment income, net of $2 million income tax)
and $5 million ($7 million net investment income, net of $2 million income
tax) for the years ended December 31, 2011 and 2010, respectively.        

The following table presents the effects of the retrospective application of
the adoption of such new accounting guidance to the Company's previously        
reported consolidated statements of cash flows:                                 

                                                        [Enlarge/Download Table]

                                                  As Previously Reported          Adjustment               As Adjusted        
                                                -------------------------- ------------------------ --------------------------
                                                 Years Ended December 31,  Years Ended December 31,  Years Ended December 31, 
                                                -------------------------- ------------------------ --------------------------
                                                    2011          2010         2011        2010         2011          2010    
                                                ------------- ------------ ------------ ----------- ------------- ------------
                                                                                (In millions)                                 
                                                                                                                              
Cash flows from operating activities                                                                                          
  Net income (loss)............................ $       3,389 $      1,792 $       (44) $      (21) $       3,345 $      1,771
  Change in deferred policy acquisition costs                                                                                 
   and value of business acquired, net......... $          94 $        147 $         56 $        22 $         150 $        169
  Change in income tax......................... $         547 $        735 $       (20) $       (8) $         527 $        727
Cash flows from investing activities                                                                                          
  Net change in other invested assets.......... $       (570) $        142 $          8 $         7 $       (562) $        149

On January 1, 2012, the Company adopted new guidance regarding comprehensive
income, which was retrospectively applied, that provides companies with the     
option to present the total of comprehensive income, components of net income,  
and the components of OCI either in a single continuous statement of            
comprehensive income or in two separate but consecutive statements in annual    
financial statements. The standard eliminates the option to present components  
of OCI as part of the statement of changes in stockholder's equity. The Company 
adopted the two-statement approach for annual financial statements.             

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

Effective January 1, 2012, the Company adopted new guidance on goodwill     
impairment testing that simplifies how an entity tests goodwill for impairment. 
This new guidance allows an entity to first assess qualitative factors to       
determine whether it is more likely than not that the fair value of a reporting 
unit is less than its carrying value as a basis for determining whether it      
needs to perform the quantitative two-step goodwill impairment test. Only if an 
entity determines, based on qualitative assessment, that it is more likely than 
not that a reporting unit's fair value is less than its carrying value will it  
be required to calculate the fair value of the reporting unit. The qualitative  
assessment is optional and the Company is permitted to bypass it for any        
reporting unit in any period and begin its impairment analysis with the         
quantitative calculation. In 2012, the Company proceeded to Step 1 of the       
two-step impairment analysis for all of the Company's reporting units. The      
Company is permitted to perform the qualitative assessment in any subsequent    
period.                                                                         

Effective January 1, 2012, the Company adopted new guidance regarding fair  
value measurements that establishes common requirements for measuring fair      
value and for disclosing information about fair value measurements in           
accordance with GAAP and International Financial Reporting Standards. Some of   
the amendments clarify the Financial Accounting Standards Board's ("FASB")      
intent on the application of existing fair value measurement requirements.      
Other amendments change a particular principle or requirement for measuring     
fair value or for disclosing information about fair value measurements. The     
adoption did not have a material impact on the Company's consolidated financial 
statements other than the expanded disclosures in Note 10.                      

 Effective July 1, 2010, the Company adopted guidance regarding accounting for
embedded credit derivatives within structured securities. This guidance         
clarifies the type of embedded credit derivative that is exempt from embedded   
derivative bifurcation requirements. Specifically, embedded credit derivatives  
resulting only from subordination of one financial instrument to another        
continue to qualify for the scope exception. Embedded credit derivative         
features other than subordination must be analyzed to determine whether they    
require bifurcation and separate accounting. As a result of the adoption of     
this guidance, the Company elected FVO for certain structured securities that   
were previously accounted for as fixed maturity securities. Upon adoption, the  
Company reclassified $50 million of securities from fixed maturity securities   
to trading and FVO securities. These securities had cumulative unrealized       
losses of $10 million, net of income tax, which was recognized as a cumulative  
effect adjustment to decrease retained earnings with a corresponding increase   
to AOCI as of July 1, 2010.                                                     

Effective January 1, 2010, the Company adopted guidance related to financial
instrument transfers and consolidation of VIEs. The financial instrument        
transfer guidance eliminates the concept of a qualified special purpose entity  
("QSPE"), eliminates the guaranteed mortgage securitization exception, changes  
the criteria for achieving sale accounting when transferring a financial asset  
and changes the initial recognition of retained beneficial interests. The       
revised consolidation guidance changed the definition of the primary            
beneficiary, as well as the method of determining whether an entity is a        
primary beneficiary of a VIE from a quantitative model to a qualitative model.  
Under the qualitative VIE consolidation model, the entity that has both the     
ability to direct the most significant activities of the VIE and the obligation 
to absorb losses or receive benefits that could potentially be significant to   
the VIE is considered to be the primary beneficiary. The guidance requires a    
continuous reassessment, as well as enhanced disclosures, including the effects 
of a company's involvement with VIEs on its financial statements.               

As a result of the adoption of the amended VIE consolidation guidance, the  
Company consolidated certain former QSPEs that were previously accounted for as 
equity security collateralized debt obligations. The Company also elected FVO   
for all of the consolidated assets and liabilities of these entities. Upon      
consolidation, the Company recorded $278 million of securities classified as    
trading and FVO securities and $232 million of                                  

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

long-term debt based on estimated fair values at January 1, 2010 and            
de-recognized less than $1 million in equity securities. The consolidation also 
resulted in an increase in retained earnings of $30 million, net of income tax, 
at January 1, 2010. For the year ended December 31, 2010, the Company recorded  
$15 million of net investment income on the consolidated assets, $15 million of 
interest expense in other expenses on the related long-term debt, and           
($30) million in net investment gains (losses) to remeasure the assets and      
liabilities at their estimated fair values.                                     

Future Adoption of New Accounting Pronouncements                                

In March 2013, the FASB issued new guidance regarding foreign currency      
(Accounting Standards Update ("ASU") 2013-05, Foreign Currency Matters (Topic   
830): Parent's Accounting for the Cumulative Translation Adjustment upon        
Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign      
Entity or of an Investment in a Foreign Entity), effective prospectively for    
fiscal years and interim reporting periods within those years beginning after   
December 15, 2013. The amendments require an entity that ceases to have a       
controlling financial interest in a subsidiary or group of assets within a      
foreign entity to apply the guidance in Subtopic 830-30, Foreign Currency       
Matters--Translation of Financial Statements, to release any related cumulative 
translation adjustment into net income. Accordingly, the cumulative translation 
adjustment should be released into net income only if the sale or transfer      
results in the complete or substantially complete liquidation of the foreign    
entity in which the subsidiary or group of assets had resided. For an equity    
method investment that is a foreign entity, the partial sale guidance in        
section 830-30-40, Derecognition, still applies. As such, a pro rata portion of 
the cumulative translation adjustment should be released into net income upon a 
partial sale of such an equity method investment. The Company is currently      
evaluating the impact of this guidance on its consolidated financial statements.

In February 2013, the FASB issued new guidance regarding liabilities (ASU   
2013-04, Liabilities (Topic 405): Obligations Resulting from Joint and Several  
Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at 
the Reporting Date), effective retrospectively for fiscal years beginning after 
December 15, 2013 and interim periods within those years. The amendments        
require an entity to measure obligations resulting from joint and several       
liability arrangements for which the total amount of the obligation within the  
scope of the guidance is fixed at the reporting date, as the sum of the amount  
the reporting entity agreed to pay on the basis of its arrangement among its    
co-obligors and any additional amount the reporting entity expects to pay on    
behalf of its co-obligors. In addition the amendments require an entity to      
disclose the nature and amount of the obligation as well as other information   
about the obligations. The Company is currently evaluating the impact of this   
guidance on its consolidated financial statements.                              

In January 2013, the FASB issued new guidance regarding comprehensive income
(ASU 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts            
Reclassified Out of Accumulated Other Comprehensive Income), effective          
prospectively for fiscal years beginning after December 15, 2012. The           
amendments require an entity to provide information about the amounts           
reclassified out of AOCI by component. In addition, an entity is required to    
present, either on the face of the statement where net income is presented or   
in the notes, significant amounts reclassified out of AOCI by the respective    
line items of net income but only if the amount reclassified is required under  
GAAP to be reclassified to net income in its entirety in the same reporting     
period. For other amounts that are not required under GAAP to be reclassified   
in their entirety to net income, an entity is required to cross-reference to    
other disclosures required under GAAP that provide additional detail about      
those amounts. The Company is currently evaluating the impact of this guidance  
on its consolidated financial statements.                                       

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

In January 2013, the FASB issued new guidance regarding balance sheet       
offsetting disclosures (ASU 2013-01, Balance Sheet (Topic 210): Clarifying the  
Scope of Disclosures about Offsetting Assets and Liabilities ("ASU 2013-01")),  
effective for fiscal years and interim periods within those years beginning on  
or after January 1, 2013. The amendments in ASU 2013-01 clarify that the scope  
of ASU 2011-11 (as defined below), applies to derivatives, including bifurcated 
embedded derivatives, repurchase and reverse repurchase agreements, and         
securities borrowing and lending transactions. The Company is currently         
evaluating the impact of this guidance on its consolidated financial statements.

In December 2011, the FASB issued new guidance regarding balance sheet      
offsetting disclosures (ASU 2011-11, Balance Sheet (Topic 210): Disclosures     
about Offsetting Assets and Liabilities ("ASU 2011-11")), effective for annual  
reporting periods beginning on or after January 1, 2013, and interim periods    
within those annual periods. The guidance will be applied retrospectively for   
all comparative periods presented. The guidance requires an entity to disclose  
information about offsetting and related arrangements to enable users of its    
financial statements to understand the effects of those arrangements on its     
financial position. Entities are required to disclose both gross information    
and net information about both instruments and transactions eligible for offset 
in the statement of financial position and instruments and transactions subject 
to an agreement similar to a master netting arrangement. The objective of the   
guidance is to facilitate comparison between those entities that prepare their  
financial statements on the basis of GAAP and those entities that prepare their 
financial statements on the basis of International Financial Reporting          
Standards. The Company is currently evaluating the impact of this guidance on   
its consolidated financial statements and related disclosures.                  

In July 2011, the FASB issued new guidance on other expenses (ASU 2011-06,  
Other Expenses (Topic 720): Fees Paid to the Federal Government by Health       
Insurers), effective for calendar years beginning after December 31, 2013. The  
objective of this standard is to address how health insurers should recognize   
and classify in their income statements fees mandated by the Patient Protection 
and Affordable Care Act, as amended by the Health Care and Education            
Reconciliation Act. The amendments in this standard specify that the liability  
for the fee should be estimated and recorded in full once the entity provides   
qualifying health insurance in the applicable calendar year in which the fee is 
payable with a corresponding deferred cost that is amortized to expense using   
the straight-line method of allocation unless another method better allocates   
the fee over the calendar year that it is payable. The Company is currently     
evaluating the impact of this guidance on its consolidated financial statements.

2. Segment Information                                                          

As announced in November 2011, MetLife, Inc. reorganized its business into  
three broad geographic regions. As a result, during 2012, the Company           
reorganized into three segments: Retail; Group, Voluntary & Worksite Benefits;  
and Corporate Benefit Funding. In addition, the Company reports certain of its  
results of operations in Corporate & Other. Prior period results have been      
revised in connection with these changes.                                       

Retail                                                                          

The Retail segment offers a broad range of protection products and services 
and a variety of annuities to individuals and employees of corporations and     
other institutions, and is organized into two businesses: Life & Other and      
Annuities. Life & Other insurance products and services include variable life,  
universal life, term life and whole life products. Additionally, through        
broker-dealer affiliates, the Company offers a full range of mutual funds and   
other securities products. Life & Other products and services also include      
individual disability income products. Annuities include a variety of variable  
and fixed annuities which provide for both asset accumulation and asset         
distribution needs.                                                             

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

Group, Voluntary & Worksite Benefits                                            

The Group, Voluntary & Worksite Benefits segment offers a broad range of    
protection products and services to individuals and corporations, as well as    
other institutions and their respective employees, and is organized into two    
businesses: Group and Voluntary & Worksite. Group insurance products and        
services include variable life, universal life and term life products. Group    
insurance products and services also include dental, group short- and long-term 
disability and accidental death & dismemberment coverages. The Voluntary &      
Worksite business includes LTC, prepaid legal plans and critical illness        
products.                                                                       

Corporate Benefit Funding                                                       

The Corporate Benefit Funding segment offers a broad range of annuity and   
investment products, including guaranteed interest products and other stable    
value products, income annuities, and separate account contracts for the        
investment management of defined benefit and defined contribution plan assets.  
This segment also includes certain products to fund postretirement benefits and 
company-, bank- or trust-owned life insurance used to finance non-qualified     
benefit programs for executives.                                                

Corporate & Other                                                               

Corporate & Other contains the excess capital not allocated to the segments,
enterprise-wide strategic initiative restructuring charges, various start-up    
and certain run-off entities, as well as interest expense related to the        
majority of the Company's outstanding debt and expenses associated with certain 
legal proceedings and income tax audit issues. Corporate & Other also includes  
the elimination of intersegment amounts, which generally relate to intersegment 
loans, which bear interest rates commensurate with related borrowings.          

Financial Measures and Segment Accounting Policies                              

Operating earnings is the measure of segment profit or loss the Company uses
to evaluate segment performance and allocate resources. Consistent with GAAP    
guidance for segment reporting, operating earnings is the Company's measure of  
segment performance and is reported below. Operating earnings should not be     
viewed as a substitute for GAAP income (loss) from continuing operations, net   
of income tax. The Company believes the presentation of operating earnings as   
the Company measures it for management purposes enhances the understanding of   
its performance by highlighting the results of operations and the underlying    
profitability drivers of the business.                                          

Operating earnings is defined as operating revenues less operating expenses,
both net of income tax.                                                         

Operating revenues excludes net investment gains (losses) and net derivative
gains (losses). The following additional adjustments are made to GAAP revenues, 
in the line items indicated, in calculating operating revenues:                 

.  Universal life and investment-type product policy fees excludes the  
amortization of unearned revenue related to net investment gains  
     (losses) and net derivative gains (losses) and certain variable annuity
GMIB fees ("GMIB Fees"); and                                      

.  Net investment income: (i) includes amounts for scheduled periodic   
     settlement payments and amortization of premium on derivatives that are
      hedges of investments but do not qualify for hedge accounting treatment,
(ii) includes income from discontinued real estate operations, and
    (iii) excludes certain amounts related to securitization entities that
are VIEs consolidated under GAAP.                                 

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

The following adjustments are made to GAAP expenses, in the line items      
indicated, in calculating operating expenses:                                   

.  Policyholder benefits and claims and policyholder dividends excludes:
(i) changes in the policyholder dividend obligation related to net
investment gains (losses) and net derivative gains (losses),      
    (ii) amounts associated with periodic crediting rate adjustments based
on the total return of a contractually referenced pool of assets, 
   (iii) benefits and hedging costs related to GMIBs ("GMIB Costs"), and
      (iv) market value adjustments associated with surrenders or terminations
of contracts ("Market Value Adjustments");                        

  .  Interest credited to policyholder account balances includes adjustments
    for scheduled periodic settlement payments and amortization of premium
 on derivatives that are hedges of PABs but do not qualify for hedge
accounting treatment;                                             

.  Amortization of DAC and VOBA excludes amounts related to: (i) net    
    investment gains (losses) and net derivative gains (losses), (ii) GMIB
Fees and GMIB Costs, and (iii) Market Value Adjustments;          

.  Interest expense on debt excludes certain amounts related to         
securitization entities that are VIEs consolidated under GAAP; and

.  Other expenses excludes costs related to noncontrolling interests and
goodwill impairments.                                             

Set forth in the tables below is certain financial information with respect 
to the Company's segments, as well as Corporate & Other, for the years ended    
December 31, 2012, 2011 and 2010 and at December 31, 2012 and 2011. The segment 
accounting policies are the same as those used to prepare the Company's         
consolidated financial statements, except for operating earnings adjustments as 
defined above. In addition, segment accounting policies include the method of   
capital allocation described below.                                             

Economic capital is an internally developed risk capital model, the purpose 
of which is to measure the risk in the business and to provide a basis upon     
which capital is deployed. The economic capital model accounts for the unique   
and specific nature of the risks inherent in MetLife, Inc.'s and the Company's  
business.                                                                       

MetLife, Inc.'s economic capital model aligns segment allocated equity with 
emerging standards and consistent risk principles. Segment net investment       
income is credited or charged based on the level of allocated equity; however,  
changes in allocated equity do not impact the Company's consolidated net        
investment income, operating earnings or income (loss) from continuing          
operations, net of income tax.                                                  

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Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                                             Operating Earnings                                           
                                            -----------------------------------------------------                         
                                                         Group,                                                           
                                                       Voluntary, Corporate                                               
                                                       & Worksite  Benefit   Corporate                           Total    
Year Ended December 31, 2012                  Retail    Benefits   Funding    & Other    Total    Adjustments Consolidated
------------------------------------------- ---------- ---------- ---------- --------- ---------- ----------- ------------
                                                                            (In millions)                                 
                                                                                                                          
Revenues                                                                                                                  
Premiums................................... $    3,997 $  13,274  $    2,608 $       1 $   19,880  $     --    $  19,880  
Universal life and investment-type product                                                                                
 policy fees...............................      1,332       663         194        --      2,189        50        2,239  
Net investment income......................      5,384     1,680       4,519       554     12,137     (285)       11,852  
Other revenues.............................        265       398         252       815      1,730        --        1,730  
Net investment gains (losses)..............         --        --          --        --         --     (330)        (330)  
Net derivative gains (losses)..............         --        --          --        --         --       675          675  
                                            ---------- ---------  ---------- --------- ----------  --------    ---------  
  Total revenues...........................     10,978    16,015       7,573     1,370     35,936       110       36,046  
                                            ---------- ---------  ---------- --------- ----------  --------    ---------  
Expenses                                                                                                                  
Policyholder benefits and claims and                                                                                      
 policyholder dividends....................      6,294    12,580       4,552       (1)     23,425       139       23,564  
Interest credited to policyholder account                                                                                 
 balances..................................      1,002       167       1,192        --      2,361        29        2,390  
Capitalization of DAC......................      (584)      (24)        (24)        --      (632)        --        (632)  
Amortization of DAC and VOBA...............        656        29          12         2        699       292          991  
Interest expense on debt...................          5         1           9       133        148         4          152  
Other expenses.............................      2,341     1,901         438     1,196      5,876         7        5,883  
                                            ---------- ---------  ---------- --------- ----------  --------    ---------  
  Total expenses...........................      9,714    14,654       6,179     1,330     31,877       471       32,348  
                                            ---------- ---------  ---------- --------- ----------  --------    ---------  
Provision for income tax expense (benefit).        442       477         488     (236)      1,171     (116)        1,055  
                                            ---------- ---------  ---------- --------- ----------              ---------  
Operating earnings......................... $      822 $     884  $      906 $     276      2,888                         
                                            ========== =========  ========== =========                                    
Adjustments to:                                                                                                           
  Total revenues...........................                                                   110                         
  Total expenses...........................                                                 (471)                         
  Provision for income tax (expense)                                                                                      
   benefit.................................                                                   116                         
                                                                                       ----------                         
Income (loss) from continuing operations,                                                                                 
 net of income tax.........................                                            $    2,643              $   2,643  
                                                                                       ==========              =========  
                                                         Group,                                                           
                                                       Voluntary  Corporate                                               
                                                       & Worksite  Benefit   Corporate                                    
At December 31, 2012                          Retail    Benefits   Funding    & Other    Total                            
------------------------------------------- ---------- ---------- ---------- --------- ----------                         
                                                                (In millions)                                             

Total assets............................... $  171,050 $  41,362  $  183,856 $  32,996 $  429,264                         
Separate account assets.................... $   50,572 $     532  $   69,867 $      -- $  120,971                         
Separate account liabilities............... $   50,572 $     532  $   69,867 $      -- $  120,971                         

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Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                                            Operating Earnings                                            
                                            ---------------------------------------------------                           
                                                         Group,                                                           
                                                       Voluntary, Corporate                                               
                                                       & Worksite  Benefit  Corporate                            Total    
Year Ended December 31, 2011                  Retail    Benefits   Funding   & Other      Total   Adjustments Consolidated
------------------------------------------- ---------- ---------- --------- ---------   --------- ----------- ------------
                                                                           (In millions)                                  
                                                                                                                          
Revenues                                                                                                                  
Premiums................................... $    4,022 $  12,487  $   1,778 $      1    $  18,288  $      --   $  18,288  
Universal life and investment-type product                                                                                
 policy fees...............................      1,334       630        197       --        2,161         41       2,202  
Net investment income......................      5,363     1,682      4,312      385       11,742      (127)      11,615  
Other revenues.............................        226       374        242      966        1,808         --       1,808  
Net investment gains (losses)..............         --        --         --       --           --        132         132  
Net derivative gains (losses)..............         --        --         --       --           --      1,578       1,578  
                                            ---------- ---------  --------- --------    ---------  ---------   ---------  
  Total revenues...........................     10,945    15,173      6,529    1,352       33,999      1,624      35,623  
                                            ---------- ---------  --------- --------    ---------  ---------   ---------  
Expenses                                                                                                                  
Policyholder benefits and claims and                                                                                      
 policyholder dividends....................      6,425    11,880      3,683        4       21,992         44      22,036  
Interest credited to policyholder account                                                                                 
 balances..................................      1,000       178      1,140       --        2,318         54       2,372  
Capitalization of DAC......................      (622)      (84)       (18)       --        (724)         --       (724)  
Amortization of DAC and VOBA...............        681        95         14        1          791         84         875  
Interest expense on debt...................          5        --          8      172          185          9         194  
Other expenses.............................      2,564     1,837        472    1,247        6,120          6       6,126  
                                            ---------- ---------  --------- --------    ---------  ---------   ---------  
  Total expenses...........................     10,053    13,906      5,299    1,424       30,682        197      30,879  
                                            ---------- ---------  --------- --------    ---------  ---------   ---------  
Provision for income tax expense                                                                                          
 (benefit).................................        314       445        432    (229)          962        498       1,460  
                                            ---------- ---------  --------- --------    ---------              ---------  
Operating earnings......................... $      578 $     822  $     798 $    157        2,355                         
                                            ========== =========  ========= ========                                      
Adjustments to:                                                                                                           
  Total revenues...........................                                                 1,624                         
  Total expenses...........................                                                 (197)                         
  Provision for income tax (expense)                                                                                      
   benefit.................................                                                 (498)                         
                                                                                        ---------                         
Income (loss) from continuing operations,                                                                                 
 net of income tax.........................                                             $   3,284              $   3,284  
                                                                                        =========              =========  
                                                         Group,                                                           
                                                       Voluntary, Corporate                                               
                                                       & Worksite  Benefit  Corporate                                     
At December 31, 2011                          Retail    Benefits   Funding   & Other      Total                           
------------------------------------------- ---------- ---------- --------- ---------   ---------                         
                                                               (In millions)                                              

Total assets............................... $  160,164 $  42,603  $ 164,244 $ 33,720    $ 400,731                         
Separate account assets.................... $   43,229 $     478  $  62,971 $     --    $ 106,678                         
Separate account liabilities............... $   43,229 $     478  $  62,971 $     --    $ 106,678                         

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Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                                           Operating Earnings                                         
                                            -------------------------------------------------                         
                                                       Group,                                                         
                                                     Voluntary, Corporate                                             
                                                     & Worksite  Benefit  Corporate                          Total    
Year Ended December 31, 2010                 Retail   Benefits   Funding   & Other    Total   Adjustments Consolidated
------------------------------------------- -------- ---------- --------- --------- --------- ----------- ------------
                                                                          (In millions)                               
                                                                                                                      
Revenues                                                                                                              
Premiums................................... $  4,125 $  12,691  $  1,702  $      1  $  18,519  $      --   $  18,519  
Universal life and investment-type product                                                                            
 policy fees...............................    1,228       616       196        --      2,040         35       2,075  
Net investment income......................    5,675     1,617     4,156       141     11,589        (8)      11,581  
Other revenues.............................      163       358       240       964      1,725         --       1,725  
Net investment gains (losses)..............       --        --        --        --         --      (170)       (170)  
Net derivative gains (losses)..............       --        --        --        --         --      (266)       (266)  
                                            -------- ---------  --------  --------  ---------  ---------   ---------  
  Total revenues...........................   11,191    15,282     6,294     1,106     33,873      (409)      33,464  
                                            -------- ---------  --------  --------  ---------  ---------   ---------  
Expenses                                                                                                              
Policyholder benefits and claims and                                                                                  
 policyholder dividends....................    6,504    12,122     3,511      (18)     22,119         31      22,150  
Interest credited to policyholder account                                                                             
 balances..................................    1,026       192     1,252        --      2,470         53       2,523  
Capitalization of DAC......................    (530)      (97)      (13)        --      (640)         --       (640)  
Amortization of DAC and VOBA...............      593        96        15         1        705        104         809  
Interest expense on debt...................        5        --         8       189        202         15         217  
Other expenses.............................    2,411     1,843       459     1,181      5,894          2       5,896  
                                            -------- ---------  --------  --------  ---------  ---------   ---------  
  Total expenses...........................   10,009    14,156     5,232     1,353     30,750        205      30,955  
                                            -------- ---------  --------  --------  ---------  ---------   ---------  
Provision for income tax expense                                                                                      
 (benefit).................................      415       395       371     (208)        973      (204)         769  
                                            -------- ---------  --------  --------  ---------              ---------  
Operating earnings......................... $    767 $     731  $    691  $   (39)      2,150                         
                                            ======== =========  ========  ========                                    
Adjustments to:                                                                                                       
  Total revenues...........................                                             (409)                         
  Total expenses...........................                                             (205)                         
  Provision for income tax (expense)                                                                                  
   benefit.................................                                               204                         
                                                                                    ---------                         
Income (loss) from continuing                                                                                         
 operations, net of income tax.............                                         $   1,740              $   1,740  
                                                                                    =========              =========  

Net investment income is based upon the actual results of each segment's    
specifically identifiable investment portfolio adjusted for allocated equity.   
Other costs are allocated to each of the segments based upon: (i) a review of   
the nature of such costs; (ii) time studies analyzing the amount of employee    
compensation costs incurred by each segment; and (iii) cost estimates included  
in the Company's product pricing.                                               

The following table presents total premiums, universal life and             
investment-type product policy fees and other revenues by major product groups  
of the Company's segments, as well as Corporate & Other:                        

                                                                [Download Table]

                                 Years Ended December 31,   
                               -----------------------------
                                 2012      2011      2010   
                               --------- --------- ---------
                                       (In millions)        
                                                            
Life insurance (1)............ $  17,224 $  16,209 $  16,204
Accident and health insurance.     6,458     5,940     5,982
Non-insurance.................       167       149       133
                               --------- --------- ---------
 Total........................ $  23,849 $  22,298 $  22,319
                               ========= ========= =========

--------                                                                        

(1) Includes annuities and corporate benefit funding products.                  

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Revenues derived from one external customer were $2.5 billion, $2.4 billion 
and $2.2 billion for the years ended December 31, 2012, 2011 and 2010,          
respectively, which represented 11%, 11% and 10%, respectively, of consolidated 
premiums, universal life and investment-type product policy fees and other      
revenues. Revenues derived from any other customer did not exceed 10% of        
consolidated premiums, universal life and investment-type product policy fees   
and other revenues for the years ended December 31, 2012, 2011 and 2010.        
Substantially all of the Company's consolidated premiums, universal life &      
investment-type product policy fees and other revenues originated in the U.S.   

3. Discontinued Operations                                                      

The following table summarizes the amounts that have been reflected as      
discontinued operations in the consolidated statements of operations. Income    
(loss) from discontinued operations includes real estate classified as          
held-for-sale or sold.                                                          

                                                        [Enlarge/Download Table]

                                                                         Years ended December 31,
                                                                         ----------------------- 
                                                                          2012     2011    2010  
                                                                         -------  ------- -------
                                                                              (In millions)      
                                                                                                 
Total revenues.......................................................... $    62  $   105 $    37
Total expenses..........................................................      --       --      --
                                                                         -------  ------- -------
Income (loss) before provision for income tax...........................      62      105      37
Provision for income tax expense (benefit)..............................      22       37      12
                                                                         -------  ------- -------
Income (loss) from operations of discontinued operations, net of income                          
  tax...................................................................      40       68      25
Gain (loss) on disposal of operations, net of income tax................      --      (7)       6
                                                                         -------  ------- -------
Income (loss) from discontinued operations, net of income tax........... $    40  $    61 $    31
                                                                         =======  ======= =======

4. Insurance                                                                    

Insurance Liabilities                                                           

Insurance liabilities, including affiliated insurance liabilities on        
reinsurance assumed and ceded, are comprised of future policy benefits, PABs    
and other policy-related balances. Information regarding insurance liabilities  
by segment, as well as Corporate & Other, was as follows at:                    

                                                                [Download Table]

                                            December 31,       
                                      -------------------------
                                          2012         2011    
                                      ------------ ------------
                                            (In millions)      
                                                               
Retail............................... $     92,322 $     92,352
Group, Voluntary & Worksite Benefits.       28,517       27,480
Corporate Benefit Funding............       93,051       83,752
Corporate & Other....................          475          481
                                      ------------ ------------
 Total............................... $    214,365 $    204,065
                                      ============ ============

See Note 2 for information on the reorganization of the Company's segments  
during 2012, which was retrospectively applied. See Note 6 for discussion of    
affiliated reinsurance liabilities included in the table above.                 

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Future policy benefits are measured as follows:                                 

Product Type:                Measurement Assumptions:                           
-------------------------------------------------------------------             
Participating life           Aggregate of (i) net level premium                 
          reserves for death and endowment
           policy benefits (calculated based
          upon the non-forfeiture interest
          rate, ranging from 3% to 7%, and
       mortality rates guaranteed in
               calculating the cash surrender values
           described in such contracts); and
         (ii) the liability for terminal
dividends.            
-------------------------------------------------------------------             
Non-participating life       Aggregate of the present value of                  
              expected future benefit payments and
           related expenses less the present
      value of expected future net
               premiums. Assumptions as to mortality
            and persistency are based upon the
             Company's experience when the basis
          of the liability is established.
           Interest rate assumptions for the
         aggregate future policy benefit
           liabilities range from 2% to 10%.
-------------------------------------------------------------------             
Individual and group         Present value of expected future                   
traditional fixed annuities  payments. Interest rate assumptions                
after annuitization          used in establishing such liabilities              
range from 1% to 11%. 
-------------------------------------------------------------------             
Non-medical health           The net level premium method and                   
insurance                    assumptions as to future morbidity,                
         withdrawals and interest, which
      provide a margin for adverse
              deviation. Interest rate assumptions
               used in establishing such liabilities
range from 4% to 7%.  
-------------------------------------------------------------------             
Disabled lives               Present value of benefits method and               
            experience assumptions as to claim
              terminations, expenses and interest.
           Interest rate assumptions used in
             establishing such liabilities range
from 2% to 8%.        
-------------------------------------------------------------------             

Participating business represented 5% and 6% of the Company's life insurance
in-force at December 31, 2012 and 2011, respectively. Participating policies    
represented 29%, 32% and 32% of gross life insurance premiums for the years     
ended December 31, 2012, 2011 and 2010, respectively.                           

PABs are equal to: (i) policy account values, which consist of an           
accumulation of gross premium payments; (ii) credited interest, ranging from 1% 
to 13%, less expenses, mortality charges and withdrawals; and (iii) fair value  
adjustments relating to business combinations.                                  

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Guarantees                                                                      

The Company issues variable annuity products with guaranteed minimum        
benefits. The non-life contingent portion of GMWBs and the portion of certain   
GMIBs that does not require annuitization are accounted for as embedded         
derivatives in PABs and are further discussed in Note 9. Guarantees accounted   
for as insurance liabilities include:                                           

                                                                [Download Table]
                                                                                    
Guarantee:                                       Measurement Assumptions:           
------------------------------------------------------------------------------------
GMDBs  .  A return of purchase payment upon   .  Present value of expected death    
          death even if the account value is     benefits in excess of the          
          reduced to zero.                       projected account balance          
                                                 recognizing the excess ratably     
                                                 over the accumulation period based 
                                                 on the present value of total      
                                                 expected assessments.              
------------------------------------------------------------------------------------

       .  An enhanced death benefit may be    .  Assumptions are consistent with    
          available for an additional fee.       those used for amortizing DAC, and 
                                                 are thus subject to the same       
                                                 variability and risk.              

                                              .  Investment performance and         
                                                 volatility assumptions are         
                                                 consistent with the historical     
                                                 experience of the appropriate      
                                                 underlying equity index, such as   
                                                 the S&P 500 Index.                 

                                              .  Benefit assumptions are based on   
                                                 the average benefits payable over  
                                                 a range of scenarios.              
------------------------------------------------------------------------------------
GMIBs  .  After a specified period of time    .  Present value of expected income   
          determined at the time of issuance     benefits in excess of the          
          of the variable annuity contract,      projected account balance at any   
          a minimum accumulation of purchase     future date of annuitization and   
          payments, even if the account          recognizing the excess ratably     
          value is reduced to zero, that can     over the accumulation period based 
          be annuitized to receive a monthly     on present value of total expected 
          income stream that is not less         assessments.                       
          than a specified amount.                                                  
       .  Certain contracts also provide for  .  Assumptions are consistent with    
          a guaranteed lump sum return of        those used for estimating GMDBs    
          purchase premium in lieu of the        liabilities.                       
          annuitization benefit.                                                    

                                              .  Calculation incorporates an        
                                                 assumption for the percentage of   
                                                 the potential annuitizations that  
                                                 may be elected by the              
                                                 contractholder.                    
------------------------------------------------------------------------------------
GMWBs. .  A return of purchase payment via    .  Expected value of the life         
          partial withdrawals, even if the       contingent payments and expected   
          account value is reduced to zero,      assessments using assumptions      
          provided that cumulative               consistent with those used for     
          withdrawals in a contract year do      estimating the GMDBs liabilities.  
          not exceed a certain limit.                                               

       .  Certain contracts include                                                 
          guaranteed withdrawals that are                                           
          life contingent.                                                          

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

The Company also issues annuity contracts that apply a lower rate of funds  
deposited if the contractholder elects to surrender the contract for cash and a 
higher rate if the contractholder elects to annuitize ("two tier annuities").   
These guarantees include benefits that are payable in the event of death,       
maturity or at annuitization. Additionally, the Company issues universal and    
variable life contracts where the Company contractually guarantees to the       
contractholder a secondary guarantee or a guaranteed paid-up benefit.           

Information regarding the liabilities for guarantees (excluding base policy 
liabilities and embedded derivatives) relating to annuity and universal and     
variable life contracts was as follows:                                         

                                                        [Enlarge/Download Table]

                                                                                              Universal and Variable         
                                                                            Annuity Contracts    Life Contracts              
                                                                            ----------------  ---------------------          
                                                                                              Secondary    Paid-Up           
                                                                             GMDBs    GMIBs   Guarantees  Guarantees  Total  
                                                                            -------  -------- ----------  ---------- --------
                                                                                             (In millions)                   
                                                                                                                             
Direct                                                                                                                       
Balance at January 1, 2010................................................. $    57  $     89  $    67     $    21   $    234
Incurred guaranteed benefits...............................................      10        24      179          28        241
Paid guaranteed benefits...................................................     (6)        --       --          --        (6)
                                                                            -------  --------  -------     -------   --------
Balance at December 31, 2010...............................................      61       113      246          49        469
Incurred guaranteed benefits...............................................      30        45       15           9         99
Paid guaranteed benefits...................................................     (7)        --       --          --        (7)
                                                                            -------  --------  -------     -------   --------
Balance at December 31, 2011...............................................      84       158      261          58        561
Incurred guaranteed benefits...............................................      31       174       79          10        294
Paid guaranteed benefits...................................................     (6)        --       --          --        (6)
                                                                            -------  --------  -------     -------   --------
Balance at December 31, 2012............................................... $   109  $    332  $   340     $    68   $    849
                                                                            =======  ========  =======     =======   ========
Ceded                                                                                                                        
Balance at January 1, 2010................................................. $    37  $     28  $    44     $     8   $    117
Incurred guaranteed benefits...............................................      13         8      165          26        212
Paid guaranteed benefits...................................................     (6)        --       --          --        (6)
                                                                            -------  --------  -------     -------   --------
Balance at December 31, 2010...............................................      44        36      209          34        323
Incurred guaranteed benefits...............................................      25        16        3           7         51
Paid guaranteed benefits...................................................     (7)        --       --          --        (7)
                                                                            -------  --------  -------     -------   --------
Balance at December 31, 2011...............................................      62        52      212          41        367
Incurred guaranteed benefits...............................................      30        58       53           6        147
Paid guaranteed benefits...................................................     (6)        --       --          --        (6)
                                                                            -------  --------  -------     -------   --------
Balance at December 31, 2012............................................... $    86  $    110  $   265     $    47   $    508
                                                                            =======  ========  =======     =======   ========
Net                                                                                                                          
Balance at January 1, 2010................................................. $    20  $     61  $    23     $    13   $    117
Incurred guaranteed benefits...............................................     (3)        16       14           2         29
Paid guaranteed benefits...................................................      --        --       --          --         --
                                                                            -------  --------  -------     -------   --------
Balance at December 31, 2010...............................................      17        77       37          15        146
Incurred guaranteed benefits...............................................       5        29       12           2         48
Paid guaranteed benefits...................................................      --        --       --          --         --
                                                                            -------  --------  -------     -------   --------
Balance at December 31, 2011...............................................      22       106       49          17        194
Incurred guaranteed benefits...............................................       1       116       26           4        147
Paid guaranteed benefits...................................................      --        --       --          --         --
                                                                            -------  --------  -------     -------   --------
Balance at December 31, 2012............................................... $    23  $    222  $    75     $    21   $    341
                                                                            =======  ========  =======     =======   ========

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Account balances of contracts with insurance guarantees were invested in    
separate account asset classes as follows at:                                   

                                                                [Download Table]

                    December 31,    
                 -------------------
                   2012      2011   
                 --------- ---------
                    (In millions)   
                                    
Fund Groupings:                     
Equity.......... $  19,623 $  18,240
Balanced........    19,235    14,368
Bond............     4,771     4,221
Specialty.......       852       787
Money Market....       192       211
                 --------- ---------
 Total.......... $  44,673 $  37,827
                 ========= =========

Based on the type of guarantee, the Company defines net amount at risk      
("NAR") as listed below. These amounts include direct business, but exclude     
offsets from hedging or reinsurance, if any.                                    

Variable Annuity Guarantees                                                     

In the Event of Death                                                       

Defined as the guaranteed minimum death benefit less the total contract     
account value, as of the balance sheet date. It represents the amount of the    
claim that the Company would incur if death claims were filed on all contracts  
on the balance sheet date.                                                      

At Annuitization                                                            

Defined as the amount (if any) that would be required to be added to the    
total contract account value to purchase a lifetime income stream, based on     
current annuity rates, equal to the minimum amount provided under the           
guaranteed benefit. This amount represents the Company's potential economic     
exposure to such guarantees in the event all contractholders were to annuitize  
on the balance sheet date, even though the contracts contain terms that only    
allow annuitization of the guaranteed amount after the 10th anniversary of the  
contract, which not all contractholders have achieved.                          

Two Tier Annuities                                                              

Defined as the excess of the upper tier, adjusted for a profit margin, less 
the lower tier, as of the balance sheet date. These contracts apply a lower     
rate of funds if the contractholder elects to surrender the contract for cash   
and a higher rate if the contractholder elects to annuitize.                    

Universal and Variable Life Contracts                                           

Defined as the guarantee amount less the account value, as of the balance   
sheet date. It represents the amount of the claim that the Company would incur  
if death claims were filed on all contracts on the balance sheet date.          

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Information regarding the types of guarantees relating to annuity contracts 
and universal and variable life contracts was as follows at:                    

                                                                [Download Table]

                                              December 31,                         
                     --------------------------------------------------------------
                                  2012                           2011              
                     ---------------------------    -------------------------------
                         In the          At             In the                     
                     Event of Death Annuitization   Event of Death At Annuitization
                     -------------- -------------   -------------- ----------------
                                             (In millions)                         
                                                                                   
Annuity Contracts                                                                  
  (1)                                                                              
Variable Annuity                                                                   
  Guarantees                                                                       
Total contract                                                                     
  account value.....  $    55,469    $    24,229     $    48,671     $    18,378   
Separate account                                                                   
  value.............  $    43,327    $    22,963     $    36,327     $    17,024   
Net amount at risk..  $       902    $      845 (2)  $     1,894     $   413 (2)   
Average attained                                                                   
  age of                                                                           
  contractholders...     64 years       60 years        63 years        60 years   
Two Tier Annuities                                                                 
General account                                                                    
  value.............          N/A    $       274             N/A     $       276   
Net amount at risk..          N/A    $        48             N/A     $        49   
Average attained                                                                   
  age of                                                                           
  contractholders...          N/A       64 years             N/A        63 years   

                                              December 31,                         
                     --------------------------------------------------------------
                                  2012                           2011              
                     ---------------------------    -------------------------------
                       Secondary       Paid-Up        Secondary        Paid-Up     
                       Guarantees    Guarantees       Guarantees      Guarantees   
                     -------------- -------------   -------------- ----------------
                                             (In millions)                         
Universal and                                                                      
  Variable Life                                                                    
  Contracts (1)                                                                    
Account value                                                                      
  (general and                                                                     
  separate account).  $     6,958    $     1,163     $     6,535     $     1,206   
Net amount at risk..  $    85,216    $     9,299     $    88,999     $     9,977   
Average attained                                                                   
  age of                                                                           
  policyholders.....     52 years       59 years        51 years        58 years   

--------                                                                        

(1)The Company's annuity and life contracts with guarantees may offer more than 
 one type of guarantee in each contract. Therefore, the amounts listed above
may not be mutually exclusive.                                            

(2)The Company had previously disclosed the NAR based on the excess of the      
benefit base over the contractholder's total contract account value on the
balance sheet date. Such amounts were $1.9 billion and $2.6 billion at    
December 31, 2012 and 2011, respectively. The Company has provided, in the
table above, the NAR as defined above. The Company believes that this     
definition is more representative of the potential economic exposures of  
these guarantees as the contractholders do not have access to this        
difference other than through annuitization.                              

Obligations Under Funding Agreements                                            

The Company issues fixed and floating rate funding agreements, which are    
denominated in either U.S. dollars or foreign currencies, to certain special    
purpose entities ("SPEs") that have issued either debt securities or commercial 
paper for which payment of interest and principal is secured by such funding    
agreements. During the years ended December 31, 2012, 2011 and 2010, the        
Company issued $24.7 billion, $27.4 billion and $15.0 billion, respectively,    
and repaid $21.5 billion, $28.2 billion and $12.3 billion, respectively, of     
such funding agreements. At December 31, 2012 and 2011, liabilities for funding 
agreements outstanding, which are included in PABs, were $23.9 billion and      
$20.1 billion, respectively.                                                    

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Metropolitan Life Insurance Company and General American Life Insurance     
Company ("GALIC"), a subsidiary, are members of the Federal Home Loan Bank      
("FHLB"). Holdings of FHLB common stock by branch, included in equity           
securities, were as follows at:                                                 

                                                                [Download Table]

                    December 31, 
                    -------------
                     2012   2011 
                    ------ ------
                    (In millions)
                                 
FHLB of New York... $  736 $  658
FHLB of Des Moines. $   55 $   31

The Company has also entered into funding agreements. The liability for     
funding agreements is included in PABs. Information related to the funding      
agreements was as follows at:                                                   

                                                                [Download Table]

                             Liability              Collateral        
                        ------------------- --------------------------
                                         December 31,                 
                        ----------------------------------------------
                          2012      2011        2012         2011     
                        --------- --------- ------------ -------------
                                        (In millions)                 
                                                                      
FHLB of New York (1)... $  13,512 $  11,655 $  14,611(2) $  13,002 (2)
Farmer Mac (3)......... $   2,550 $   2,550 $      2,929 $       2,927
FHLB of Des Moines (1). $   1,000 $     475 $   1,298(2) $     662 (2)

--------                                                                        

(1)Represents funding agreements issued to the FHLB in exchange for cash and    
for which the FHLB has been granted a lien on certain assets, which are in
the custody of the FHLB, including residential mortgage-backed securities 
("RMBS"), to collateralize obligations under advances evidenced by funding
agreements. The Company is permitted to withdraw any portion of the       
collateral in the custody of the FHLB as long as there is no event of     
 default and the remaining qualified collateral is sufficient to satisfy the
 collateral maintenance level. Upon any event of default by the Company, the
 FHLB's recovery on the collateral is limited to the amount of the Company's
liability to the FHLB.                                                    

(2)Advances are collateralized by mortgage-backed securities. The amount of     
collateral presented is at estimated fair value.                          

(3)Represents funding agreements issued to certain SPEs that have issued debt   
securities for which payment of interest and principal is secured by such 
funding agreements, and such debt securities are also guaranteed as to    
payment of interest and principal by the Federal Agricultural Mortgage    
Corporation, a federally chartered instrumentality of the U.S. ("Farmer   
Mac"). The obligations under these funding agreements are secured by a    
 pledge of certain eligible agricultural real estate mortgage loans and may,
under certain circumstances, be secured by other qualified collateral. The
amount of collateral presented is at carrying value.                      

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Liabilities for Unpaid Claims and Claim Expenses                                

Information regarding the liabilities for unpaid claims and claim expenses  
relating to group accident and non-medical health policies and contracts, which 
are reported in future policy benefits and other policy-related balances, was   
as follows:                                                                     

                                                                [Download Table]

                                                    Years Ended December 31, 
                                                   --------------------------
                                                     2012     2011     2010  
                                                   -------- -------- --------
                                                         (In millions)       
                                                                             
Balance at January 1,............................. $  6,622 $  6,539 $  6,302
  Less: Reinsurance recoverables..................      324      448      354
                                                   -------- -------- --------
Net balance at January 1,.........................    6,298    6,091    5,948
                                                   -------- -------- --------
Incurred related to:                                                         
  Current year....................................    4,320    3,856    3,733
  Prior years.....................................     (42)     (79)       13
                                                   -------- -------- --------
   Total incurred.................................    4,278    3,777    3,746
                                                   -------- -------- --------
Paid related to:                                                             
  Current year....................................  (2,626)  (2,282)  (2,244)
  Prior years.....................................  (1,425)  (1,288)  (1,359)
                                                   -------- -------- --------
   Total paid.....................................  (4,051)  (3,570)  (3,603)
                                                   -------- -------- --------
Net balance at December 31,.......................    6,525    6,298    6,091
Add: Reinsurance recoverables.....................      301      324      448
                                                   -------- -------- --------
Balance at December 31,........................... $  6,826 $  6,622 $  6,539
                                                   ======== ======== ========

During 2012 and 2011, claims and claim adjustment expenses associated with  
prior years decreased by $42 million and $79 million, respectively, due to      
improved loss ratios for non-medical health claim liabilities. During 2010,     
claims and claim adjustment expenses associated with prior years increased by   
$13 million due to differences between the actual benefits paid and expected    
benefits owed during those periods.                                             

Separate Accounts                                                               

Separate account assets and liabilities include two categories of account   
types: pass-through separate accounts totaling $71.7 billion and $62.7 billion  
at December 31, 2012 and 2011, respectively, for which the policyholder assumes 
all investment risk, and separate accounts for which the Company contractually  
guarantees either a minimum return or account value to the policyholder which   
totaled $49.3 billion and $44.0 billion at December 31, 2012 and 2011,          
respectively. The latter category consisted primarily of funding agreements and 
participating close-out contracts. The average interest rate credited on these  
contracts was 2.80% and 3.12% at December 31, 2012 and 2011, respectively.      

For the years ended December 31, 2012, 2011 and 2010, there were no         
investment gains (losses) on transfers of assets from the general account to    
the separate accounts.                                                          

5. Deferred Policy Acquisition Costs, Value of Business Acquired and Other      
Policy-Related Intangibles                                                      

See Note 1 for a description of capitalized acquisition costs.              

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Non-Participating and Non-Dividend-Paying Traditional Contracts                 

The Company amortizes DAC and VOBA related to these contracts (term         
insurance, non-participating whole life insurance, traditional group life       
insurance, and non-medical health insurance) over the appropriate premium       
paying period in proportion to the actual historic and expected future gross    
premiums that were set at contract issue. The expected premiums are based upon  
the premium requirement of each policy and assumptions for mortality,           
morbidity, persistency and investment returns at policy issuance, or policy     
acquisition (as it relates to VOBA), include provisions for adverse deviation,  
and are consistent with the assumptions used to calculate future policyholder   
benefit liabilities. These assumptions are not revised after policy issuance or 
acquisition unless the DAC or VOBA balance is deemed to be unrecoverable from   
future expected profits. Absent a premium deficiency, variability in            
amortization after policy issuance or acquisition is caused only by variability 
in premium volumes.                                                             

Participating, Dividend-Paying Traditional Contracts                            

The Company amortizes DAC and VOBA related to these contracts over the      
estimated lives of the contracts in proportion to actual and expected future    
gross margins. The amortization includes interest based on rates in effect at   
inception or acquisition of the contracts. The future gross margins are         
dependent principally on investment returns, policyholder dividend scales,      
mortality, persistency, expenses to administer the business, creditworthiness   
of reinsurance counterparties and certain economic variables, such as           
inflation. For participating contracts within the closed block (dividend-paying 
traditional contracts) future gross margins are also dependent upon changes in  
the policyholder dividend obligation. See Note 7. Of these factors, the Company 
anticipates that investment returns, expenses, persistency and other factor     
changes, as well as policyholder dividend scales are reasonably likely to       
impact significantly the rate of DAC and VOBA amortization. Each reporting      
period, the Company updates the estimated gross margins with the actual gross   
margins for that period. When the actual gross margins change from previously   
estimated gross margins, the cumulative DAC and VOBA amortization is            
re-estimated and adjusted by a cumulative charge or credit to current           
operations. When actual gross margins exceed those previously estimated, the    
DAC and VOBA amortization will increase, resulting in a current period charge   
to earnings. The opposite result occurs when the actual gross margins are below 
the previously estimated gross margins. Each reporting period, the Company also 
updates the actual amount of business in-force, which impacts expected future   
gross margins. When expected future gross margins are below those previously    
estimated, the DAC and VOBA amortization will increase, resulting in a current  
period charge to earnings. The opposite result occurs when the expected future  
gross margins are above the previously estimated expected future gross margins. 
Each period, the Company also reviews the estimated gross margins for each      
block of business to determine the recoverability of DAC and VOBA balances.     

Fixed and Variable Universal Life Contracts and Fixed and Variable Deferred     
Annuity Contracts                                                               

The Company amortizes DAC and VOBA related to these contracts over the      
estimated lives of the contracts in proportion to actual and expected future    
gross profits. The amortization includes interest based on rates in effect at   
inception or acquisition of the contracts. The amount of future gross profits   
is dependent principally upon returns in excess of the amounts credited to      
policyholders, mortality, persistency, interest crediting rates, expenses to    
administer the business, creditworthiness of reinsurance counterparties, the    
effect of any hedges used and certain economic variables, such as inflation. Of 
these factors, the Company anticipates that investment returns, expenses and    
persistency are reasonably likely to impact significantly the rate of DAC and   
VOBA amortization. Each reporting period, the Company updates the estimated     
gross profits with the actual gross profits for that period. When the actual    
gross profits change from previously estimated gross profits, the               

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Notes to the Consolidated Financial Statements -- (Continued) 

cumulative DAC and VOBA amortization is re-estimated and adjusted by a          
cumulative charge or credit to current operations. When actual gross profits    
exceed those previously estimated, the DAC and VOBA amortization will increase, 
resulting in a current period charge to earnings. The opposite result occurs    
when the actual gross profits are below the previously estimated gross profits. 
Each reporting period, the Company also updates the actual amount of business   
remaining in-force, which impacts expected future gross profits. When expected  
future gross profits are below those previously estimated, the DAC and VOBA     
amortization will increase, resulting in a current period charge to earnings.   
The opposite result occurs when the expected future gross profits are above the 
previously estimated expected future gross profits. Each period, the Company    
also reviews the estimated gross profits for each block of business to          
determine the recoverability of DAC and VOBA balances.                          

Factors Impacting Amortization                                                  

Separate account rates of return on variable universal life contracts and   
variable deferred annuity contracts affect in-force account balances on such    
contracts each reporting period, which can result in significant fluctuations   
in amortization of DAC and VOBA. Returns that are higher than the Company's     
long-term expectation produce higher account balances, which increases the      
Company's future fee expectations and decreases future benefit payment          
expectations on minimum death and living benefit guarantees, resulting in       
higher expected future gross profits. The opposite result occurs when returns   
are lower than the Company's long-term expectation. The Company's practice to   
determine the impact of gross profits resulting from returns on separate        
accounts assumes that long-term appreciation in equity markets is not changed   
by short-term market fluctuations, but is only changed when sustained interim   
deviations are expected. The Company monitors these events and only changes the 
assumption when its long-term expectation changes.                              

The Company also periodically reviews other long-term assumptions underlying
the projections of estimated gross margins and profits. These assumptions       
primarily relate to investment returns, policyholder dividend scales, interest  
crediting rates, mortality, persistency and expenses to administer business.    
Management annually updates assumptions used in the calculation of estimated    
gross margins and profits which may have significantly changed. If the update   
of assumptions causes expected future gross margins and profits to increase,    
DAC and VOBA amortization will decrease, resulting in a current period increase 
to earnings. The opposite result occurs when the assumption update causes       
expected future gross margins and profits to decrease.                          

Periodically, the Company modifies product benefits, features, rights or    
coverages that occur by the exchange of a contract for a new contract, or by    
amendment, endorsement, or rider to a contract, or by election or coverage      
within a contract. If such modification, referred to as an internal             
replacement, substantially changes the contract, the associated DAC or VOBA is  
written off immediately through income and any new deferrable costs associated  
with the replacement contract are deferred. If the modification does not        
substantially change the contract, the DAC or VOBA amortization on the original 
contract will continue and any acquisition costs associated with the related    
modification are expensed.                                                      

Amortization of DAC and VOBA is attributed to both investment gains and     
losses and to other expenses for the amount of gross margins or profits         
originating from transactions other than investment gains and losses.           
Unrealized investment gains and losses represent the amount of DAC and VOBA     
that would have been amortized if such gains and losses had been recognized.    

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Notes to the Consolidated Financial Statements -- (Continued) 

Information regarding DAC and VOBA was as follows:                          

                                                        [Enlarge/Download Table]

                                                                        Years Ended December 31, 
                                                                       --------------------------
                                                                         2012     2011     2010  
                                                                       -------- -------- --------
                                                                             (In millions)       
                                                                                                 
DAC                                                                                              
Balance at January 1,................................................. $  6,244 $  6,640 $  7,639
Capitalizations.......................................................      632      724      640
Amortization related to:                                                                         
  Net investment gains (losses).......................................    (270)     (88)    (108)
  Other expenses......................................................    (709)    (777)    (687)
                                                                       -------- -------- --------
   Total amortization.................................................    (979)    (865)    (795)
                                                                       -------- -------- --------
Unrealized investment gains (losses)..................................    (145)    (255)    (844)
                                                                       -------- -------- --------
Balance at December 31,...............................................    5,752    6,244    6,640
                                                                       -------- -------- --------
VOBA                                                                                             
Balance at January 1,.................................................       97      115      136
Amortization related to:                                                                         
  Other expenses......................................................     (12)     (10)     (14)
                                                                       -------- -------- --------
   Total amortization.................................................     (12)     (10)     (14)
                                                                       -------- -------- --------
Unrealized investment gains (losses)..................................      (5)      (8)      (7)
                                                                       -------- -------- --------
Balance at December 31,...............................................       80       97      115
                                                                       -------- -------- --------
Total DAC and VOBA                                                                               
Balance at December 31,............................................... $  5,832 $  6,341 $  6,755
                                                                       ======== ======== ========

See Note 1 for information on the retrospective application of the adoption 
of new accounting guidance related to DAC.                                      

See Note 2 for information on the reorganization of the Company's segments  
during 2012, which was retrospectively applied. Information regarding total DAC 
and VOBA by segment, as well as Corporate & Other, was as follows at:           

                                                        [Enlarge/Download Table]

                                                                         December 31,   
                                                                       -----------------
                                                                         2012     2011  
                                                                       -------- --------
                                                                         (In millions)  
                                                                                        
Retail................................................................ $  5,407 $  5,921
Group, Voluntary & Worksite Benefits..................................      337      342
Corporate Benefit Funding.............................................       88       76
Corporate & Other.....................................................       --        2
                                                                       -------- --------
  Total............................................................... $  5,832 $  6,341
                                                                       ======== ========

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(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Information regarding other policy-related intangibles was as follows:      

                                                                [Download Table]

                            Years Ended December 31,
                            ------------------------
                             2012     2011    2010  
                             ------  ------  ------ 
                               (In millions)        
                                                    
Deferred Sales Inducements                          
Balance at January 1,...... $  184   $  190  $  173 
Capitalization.............     22       29      42 
Amortization...............   (26)     (35)    (25) 
                             ------  ------  ------ 
Balance at December 31,.... $  180   $  184  $  190 
                             ======  ======  ====== 

VODA and VOCRA                                      
Balance at January 1,...... $  378   $  400  $  412 
Acquisitions...............     --       --       7 
Amortization...............   (25)     (22)    (19) 
                             ------  ------  ------ 
Balance at December 31,.... $  353   $  378  $  400 
                             ======  ======  ====== 
Accumulated amortization... $  104   $   79  $   57 
                             ======  ======  ====== 

The estimated future amortization expense to be reported in other expenses  
for the next five years is as follows:                                          

                                                                [Download Table]

                                VOBA   VODA and VOCRA
                               ------- --------------
                                   (In millions)     
                                                     
2013.......................... $    11 $          28 
2014.......................... $     9 $          30 
2015.......................... $     8 $          30 
2016.......................... $     4 $          30 
2017.......................... $     5 $          28 

6. Reinsurance                                                                  

The Company enters into reinsurance agreements primarily as a purchaser for 
reinsurance for its various insurance products and also as a provider of        
reinsurance for some insurance products issued by affiliated and unaffiliated   
companies. The Company participates in reinsurance activities in order to limit 
losses, minimize exposure to significant risks and provide additional capacity  
for future growth.                                                              

Accounting for reinsurance requires extensive use of assumptions and        
estimates, particularly related to the future performance of the underlying     
business and the potential impact of counterparty credit risks. The Company     
periodically reviews actual and anticipated experience compared to the          
aforementioned assumptions used to establish assets and liabilities relating to 
ceded and assumed reinsurance and evaluates the financial strength of           
counterparties to its reinsurance agreements using criteria similar to that     
evaluated in the security impairment process discussed in Note 8.               

For its individual life insurance products, the Company has historically    
reinsured the mortality risk primarily on an excess of retention basis or on a  
quota share basis. The Company currently reinsures 90% of the mortality         

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Notes to the Consolidated Financial Statements -- (Continued) 

risk in excess of $2 million for most products and reinsures up to 90% of the   
mortality risk for certain other products. In addition to reinsuring mortality  
risk as described above, the Company reinsures other risks, as well as specific 
coverages. Placement of reinsurance is done primarily on an automatic basis and 
also on a facultative basis for risks with specified characteristics. On a case 
by case basis, the Company may retain up to $20 million per life and reinsure   
100% of amounts in excess of the amount the Company retains. The Company        
evaluates its reinsurance programs routinely and may increase or decrease its   
retention at any time.                                                          

 For other policies within the Group, Voluntary and Worksite Benefits segment,
the Company generally retains most of the risk and only cedes particular risks  
on certain client arrangements.                                                 

The Company's Retail Annuities business assumes 90% of the fixed annuities  
issued by several affiliates. The Company also reinsures 100% of the living and 
death benefit guarantees issued in connection with its variable annuities       
issued since 2004 to an affiliated reinsurer and certain portions of the living 
and death benefit guarantees issued in connection with its variable annuities   
issued prior to 2004 to affiliated and unaffiliated reinsurers. Under these     
reinsurance agreements, the Company pays a reinsurance premium generally based  
on fees associated with the guarantees collected from policyholders, and        
receives reimbursement for benefits paid or accrued in excess of account        
values, subject to certain limitations. The value of the embedded derivatives   
on the ceded risk is determined using a methodology consistent with the         
guarantees directly written by the Company with the exception of the input for  
nonperformance risk that reflects the credit of the reinsurer.                  

The Company's Corporate Benefit Funding segment periodically engages in     
reinsurance activities, as considered appropriate. The impact of these          
activities on the financial results of this segment has not been significant.   

The Company has exposure to catastrophes, which could contribute to         
significant fluctuations in the Company's results of operations. The Company    
uses excess of retention and quota share reinsurance agreements to provide      
greater diversification of risk and minimize exposure to larger risks.          

The Company reinsures its business through a diversified group of           
well-capitalized, highly rated reinsurers. The Company analyzes recent trends   
in arbitration and litigation outcomes in disputes, if any, with its            
reinsurers. The Company monitors ratings and evaluates the financial strength   
of its reinsurers by analyzing their financial statements. In addition, the     
reinsurance recoverable balance due from each reinsurer is evaluated as part of 
the overall monitoring process. Recoverability of reinsurance recoverable       
balances is evaluated based on these analyses. The Company generally secures    
large reinsurance recoverable balances with various forms of collateral,        
including secured trusts, funds withheld accounts and irrevocable letters of    
credit. These reinsurance recoverable balances are stated net of allowances for 
uncollectible reinsurance, which at December 31, 2012 and 2011, were not        
significant.                                                                    

 The Company has secured certain reinsurance recoverable balances with various
forms of collateral, including secured trusts, funds withheld accounts and      
irrevocable letters of credit. The Company had $2.4 billion and $2.3 billion of 
unsecured unaffiliated reinsurance recoverable balances at December 31, 2012    
and 2011, respectively.                                                         

At December 31, 2012, the Company had $5.4 billion of net unaffiliated ceded
reinsurance recoverables. Of this total, $4.4 billion, or 82%, were with the    
Company's five largest unaffiliated ceded reinsurers, including $1.8 billion of 
net unaffiliated ceded reinsurance recoverables which were unsecured. At        
December 31, 2011, the Company had $5.4 billion of net unaffiliated ceded       
reinsurance recoverables. Of this total, $4.2 billion, or 78%, were with the    
Company's five largest unaffiliated ceded reinsurers, including $1.6 billion of 
net unaffiliated ceded reinsurance recoverables which were unsecured.           

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Notes to the Consolidated Financial Statements -- (Continued) 

The Company has reinsured with an unaffiliated third-party reinsurer 49.25% 
of the closed block through a modified coinsurance agreement. The Company       
accounts for this agreement under the deposit method of accounting. The         
Company, having the right of offset, has offset the modified coinsurance        
deposit with the deposit recoverable.                                           

The amounts in the consolidated statements of operations include the impact 
of reinsurance. Information regarding the significant effects of reinsurance    
was as follows:                                                                 

                                                        [Enlarge/Download Table]

                                                                 Years Ended December 31,   
                                                               -----------------------------
                                                                 2012      2011      2010   
                                                               --------- --------- ---------
                                                                       (In millions)        
                                                                                            
Premiums:                                                                                   
Direct premiums............................................... $  19,821 $  18,435 $  18,793
Reinsurance assumed...........................................     1,350     1,240     1,155
Reinsurance ceded.............................................   (1,291)   (1,387)   (1,429)
                                                               --------- --------- ---------
 Net premiums................................................. $  19,880 $  18,288 $  18,519
                                                               ========= ========= =========
Universal life and investment-type product policy fees:                                     
Direct universal life and investment-type product policy fees. $   2,763 $   2,686 $   2,627
Reinsurance assumed...........................................        39        38        13
Reinsurance ceded.............................................     (563)     (522)     (565)
                                                               --------- --------- ---------
 Net universal life and investment-type product policy fees... $   2,239 $   2,202 $   2,075
                                                               ========= ========= =========
Other revenues:                                                                             
Direct other revenues......................................... $     887 $     836 $     750
Reinsurance assumed...........................................       (6)       (6)       (5)
Reinsurance ceded.............................................       849       978       980
                                                               --------- --------- ---------
 Net other revenues........................................... $   1,730 $   1,808 $   1,725
                                                               ========= ========= =========
Policyholder benefits and claims:                                                           
Direct policyholder benefits and claims....................... $  22,677 $  21,100 $  21,246
Reinsurance assumed...........................................     1,208     1,069     1,235
Reinsurance ceded.............................................   (1,616)   (1,488)   (1,774)
                                                               --------- --------- ---------
 Net policyholder benefits and claims......................... $  22,269 $  20,681 $  20,707
                                                               ========= ========= =========
Other expenses:                                                                             
Direct other expenses......................................... $   5,328 $   5,280 $   5,167
Reinsurance assumed...........................................       479       458       462
Reinsurance ceded.............................................       587       733       653
                                                               --------- --------- ---------
 Net other expenses........................................... $   6,394 $   6,471 $   6,282
                                                               ========= ========= =========

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(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

The amounts in the consolidated balance sheets include the impact of        
reinsurance. Information regarding the significant effects of reinsurance was   
as follows at:                                                                  

                                                        [Enlarge/Download Table]

                                                                     December 31,                                   
                                   ---------------------------------------------------------------------------------
                                                     2012                                     2011                  
                                   ---------------------------------------- ----------------------------------------
                                                                   Total                                    Total   
                                                                  Balance                                  Balance  
                                     Direct   Assumed    Ceded     Sheet      Direct   Assumed    Ceded     Sheet   
                                   ---------- -------- --------- ---------- ---------- -------- --------- ----------
                                                                     (In millions)                                  
                                                                                                                    
Assets:                                                                                                             
Premiums, reinsurance and other                                                                                     
 receivables...................... $    1,613 $    480 $  22,628 $   24,721 $    1,383 $    485 $  26,113 $   27,981
Deferred policy acquisition costs                                                                                   
 and value of business                                                                                              
 acquired.........................      5,685      460     (313)      5,832      6,337      386     (382)      6,341
                                   ---------- -------- --------- ---------- ---------- -------- --------- ----------
  Total assets.................... $    7,298 $    940 $  22,315 $   30,553 $    7,720 $    871 $  25,731 $   34,322
                                   ========== ======== ========= ========== ========== ======== ========= ==========
Liabilities:                                                                                                        
Future policy benefits............ $  112,264 $  1,722 $      -- $  113,986 $  107,713 $  1,620 $      -- $  109,333
Policyholder account balances.....     94,454      262        --     94,716     88,557      299        --     88,856
Other policy-related balances.....      5,401      291      (29)      5,663      5,631      294      (49)      5,876
Other liabilities.................      9,544    7,327    17,070     33,941      8,068    7,574    20,972     36,614
                                   ---------- -------- --------- ---------- ---------- -------- --------- ----------
  Total liabilities............... $  221,663 $  9,602 $  17,041 $  248,306 $  209,969 $  9,787 $  20,923 $  240,679
                                   ========== ======== ========= ========== ========== ======== ========= ==========

Reinsurance agreements that do not expose the Company to a reasonable       
possibility of a significant loss from insurance risk are recorded using the    
deposit method of accounting. The deposit assets on reinsurance were            
$13.9 billion and $17.9 billion at December 31, 2012 and 2011, respectively.    
The deposit liabilities on reinsurance were $6.9 billion and $7.0 billion at    
December 31, 2012 and 2011, respectively.                                       

Related Party Reinsurance Transactions                                          

The Company has reinsurance agreements with certain of MetLife, Inc.'s      
subsidiaries, including Exeter Reassurance Company Ltd. ("Exeter"), First       
MetLife Investors Insurance Company, MetLife Insurance Company of Connecticut   
("MICC"), MetLife Investors USA Insurance Company, MetLife Investors Insurance  
Company, MetLife Reinsurance Company of Charleston ("MRC"), MetLife Reinsurance 
Company of Vermont and Metropolitan Tower Life Insurance Company, all of which  
are related parties.                                                            

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Notes to the Consolidated Financial Statements -- (Continued) 

Information regarding the significant effects of affiliated reinsurance     
included in the consolidated statements of operations was as follows:           

                                                        [Enlarge/Download Table]

                                                                                  Years Ended December 31, 
                                                                                 --------------------------
                                                                                   2012     2011     2010  
                                                                                 -------- -------- --------
                                                                                       (In millions)       
                                                                                                           
Premiums:                                                                                                  
Reinsurance assumed............................................................. $    319 $    169 $     88
Reinsurance ceded...............................................................     (54)     (51)     (63)
                                                                                 -------- -------- --------
  Net premiums.................................................................. $    265 $    118 $     25
                                                                                 ======== ======== ========
Universal life and investment-type product policy fees:                                                    
Reinsurance assumed............................................................. $     39 $     38 $     13
Reinsurance ceded...............................................................    (216)    (170)    (230)
                                                                                 -------- -------- --------
  Net universal life and investment-type product policy fees.................... $  (177) $  (132) $  (217)
                                                                                 ======== ======== ========
Other revenues:                                                                                            
Reinsurance assumed............................................................. $    (6) $    (7) $    (5)
Reinsurance ceded...............................................................      790      916      908
                                                                                 -------- -------- --------
  Net other revenues............................................................ $    784 $    909 $    903
                                                                                 ======== ======== ========
Policyholder benefits and claims:                                                                          
Reinsurance assumed............................................................. $    334 $    175 $    112
Reinsurance ceded...............................................................    (177)    (121)    (129)
                                                                                 -------- -------- --------
  Net policyholder benefits and claims.......................................... $    157 $     54 $   (17)
                                                                                 ======== ======== ========
Other expenses:                                                                                            
Reinsurance assumed............................................................. $    357 $    352 $    362
Reinsurance ceded...............................................................      789      914      824
                                                                                 -------- -------- --------
  Net other expenses............................................................ $  1,146 $  1,266 $  1,186
                                                                                 ======== ======== ========

Information regarding the significant effects of affiliated reinsurance     
included in the consolidated balance sheets was as follows at:                  

                                                        [Enlarge/Download Table]

                                                                     December 31,             
                                                         -------------------------------------
                                                                2012               2011       
                                                         ------------------ ------------------
                                                         Assumed    Ceded   Assumed    Ceded  
                                                         -------- --------- -------- ---------
                                                                     (In millions)            
                                                                                              
Assets:                                                                                       
Premiums, reinsurance and other receivables (1)......... $     85 $  16,925 $     44 $  20,469
Deferred policy acquisition costs and value of business                                       
  acquired..............................................      435     (266)      359     (286)
                                                         -------- --------- -------- ---------
 Total assets........................................... $    520 $  16,659 $    403 $  20,183
                                                         ======== ========= ======== =========
Liabilities:                                                                                  
Future policy benefits.................................. $    567 $      -- $    442 $      --
Policyholder account balances...........................      251        --      266        --
Other policy-related balances...........................       57      (29)       59      (49)
Other liabilities (1)...................................    6,906    14,652    7,114    18,707
                                                         -------- --------- -------- ---------
 Total liabilities...................................... $  7,781 $  14,623 $  7,881 $  18,658
                                                         ======== ========= ======== =========

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Notes to the Consolidated Financial Statements -- (Continued) 

(1)Effective in June 2012, the Company recaptured 10% of the 40.75% of the      
 closed block liabilities that were ceded to MRC on a coinsurance with funds
withheld basis. In connection with this partial recapture, the Company    
recognized a decrease of $3.9 billion in the deposit receivable included  
 within premiums, reinsurance and other receivables as well as an offsetting
decrease of $3.9 billion in the funds withheld included within other      
liabilities at December 31, 2012.                                         

 MLIC ceded two blocks of business to two affiliates on a 75% coinsurance with
funds withheld basis. Certain contractual features of these agreements qualify  
as embedded derivatives, which are separately accounted for at estimated fair   
value on the Company's consolidated balance sheets. The embedded derivatives    
related to the funds withheld associated with these reinsurance agreements are  
included within other liabilities and increased the funds withheld balance by   
$29 million and $20 million at December 31, 2012 and 2011, respectively. Net    
derivative gains (losses) associated with these embedded derivatives were ($9)  
million, ($29) million and $9 million for the years ended December 31, 2012,    
2011 and 2010, respectively.                                                    

 The Company ceded risks to an affiliate related to guaranteed minimum benefit
guarantees written directly by the Company. These ceded reinsurance agreements  
contain embedded derivatives and changes in their fair value are included       
within net derivative gains (losses). The embedded derivatives associated with  
the cessions are included within premiums, reinsurance and other receivables    
and were assets of $1.4 billion and $1.2 billion at December 31, 2012 and 2011, 
respectively. Net derivative gains (losses) associated with the embedded        
derivatives were $14 million, $727 million and ($66) million for the years      
ended December 31, 2012, 2011 and 2010, respectively.                           

 Certain contractual features of the closed block agreement with MRC create an
embedded derivative, which is separately accounted for at estimated fair value  
on the Company's consolidated balance sheets. The embedded derivative related   
to the funds withheld associated with this reinsurance agreement was included   
within other liabilities and increased the funds withheld balance by            
$1.4 billion and $1.5 billion at December 31, 2012 and 2011, respectively. Net  
derivative gains (losses) associated with the embedded derivative were          
$135 million, ($811) million and ($596) million for the years ended             
December 31, 2012, 2011 and 2010, respectively.                                 

 The Company has secured certain reinsurance recoverable balances with various
forms of collateral, including secured trusts, funds withheld accounts and      
irrevocable letters of credit. The Company had $2.1 billion and $1.5 billion of 
unsecured affiliated reinsurance recoverable balances at December 31, 2012 and  
2011, respectively.                                                             

Affiliated reinsurance agreements that do not expose the Company to a       
reasonable possibility of a significant loss from insurance risk are recorded   
using the deposit method of accounting. The deposit assets on affiliated        
reinsurance were $11.8 billion and $15.7 billion at December 31, 2012 and 2011, 
respectively. The deposit liabilities on affiliated reinsurance were            
$6.8 billion and $6.9 billion at December 31, 2012 and 2011, respectively.      

7. Closed Block                                                                 

On April 7, 2000 (the "Demutualization Date"), Metropolitan Life Insurance  
Company converted from a mutual life insurance company to a stock life          
insurance company and became a wholly-owned subsidiary of MetLife, Inc. The     
conversion was pursuant to an order by the New York Superintendent of Insurance 
(the "Superintendent") approving Metropolitan Life Insurance Company's plan of  
reorganization, as amended (the "Plan"). On the Demutualization Date,           
Metropolitan Life Insurance Company established a closed block for the          

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

benefit of holders of certain individual life insurance policies of             
Metropolitan Life Insurance Company. Assets have been allocated to the closed   
block in an amount that has been determined to produce cash flows which,        
together with anticipated revenues from the policies included in the closed     
block, are reasonably expected to be sufficient to support obligations and      
liabilities relating to these policies, including, but not limited to,          
provisions for the payment of claims and certain expenses and taxes, and to     
provide for the continuation of policyholder dividend scales in effect for      
1999, if the experience underlying such dividend scales continues, and for      
appropriate adjustments in such scales if the experience changes. At least      
annually, the Company compares actual and projected experience against the      
experience assumed in the then-current dividend scales. Dividend scales are     
adjusted periodically to give effect to changes in experience.                  

The closed block assets, the cash flows generated by the closed block assets
and the anticipated revenues from the policies in the closed block will benefit 
only the holders of the policies in the closed block. To the extent that, over  
time, cash flows from the assets allocated to the closed block and claims and   
other experience related to the closed block are, in the aggregate, more or     
less favorable than what was assumed when the closed block was established,     
total dividends paid to closed block policyholders in the future may be greater 
than or less than the total dividends that would have been paid to these        
policyholders if the policyholder dividend scales in effect for 1999 had been   
continued. Any cash flows in excess of amounts assumed will be available for    
distribution over time to closed block policyholders and will not be available  
to stockholders. If the closed block has insufficient funds to make guaranteed  
policy benefit payments, such payments will be made from assets outside of the  
closed block. The closed block will continue in effect as long as any policy in 
the closed block remains in-force. The expected life of the closed block is     
over 100 years.                                                                 

The Company uses the same accounting principles to account for the          
participating policies included in the closed block as it used prior to the     
Demutualization Date. However, the Company establishes a policyholder dividend  
obligation for earnings that will be paid to policyholders as additional        
dividends as described below. The excess of closed block liabilities over       
closed block assets at the Demutualization Date (adjusted to eliminate the      
impact of related amounts in AOCI) represents the estimated maximum future      
earnings from the closed block expected to result from operations attributed to 
the closed block after income taxes. Earnings of the closed block are           
recognized in income over the period the policies and contracts in the closed   
block remain in-force. Management believes that over time the actual cumulative 
earnings of the closed block will approximately equal the expected cumulative   
earnings due to the effect of dividend changes. If, over the period the closed  
block remains in existence, the actual cumulative earnings of the closed block  
are greater than the expected cumulative earnings of the closed block, the      
Company will pay the excess of the actual cumulative earnings of the closed     
block over the expected cumulative earnings to closed block policyholders as    
additional policyholder dividends unless offset by future unfavorable           
experience of the closed block and, accordingly, will recognize only the        
expected cumulative earnings in income with the excess recorded as a            
policyholder dividend obligation. If over such period, the actual cumulative    
earnings of the closed block are less than the expected cumulative earnings of  
the closed block, the Company will recognize only the actual earnings in        
income. However, the Company may change policyholder dividend scales in the     
future, which would be intended to increase future actual earnings until the    
actual cumulative earnings equal the expected cumulative earnings.              

Experience within the closed block, in particular mortality and investment  
yields, as well as realized and unrealized gains and losses, directly impact    
the policyholder dividend obligation. Amortization of the closed block DAC,     
which resides outside of the closed block, is based upon cumulative actual and  
expected earnings within the closed block. Accordingly, the Company's net       
income continues to be sensitive to the actual performance of the closed block. 

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Notes to the Consolidated Financial Statements -- (Continued) 

Closed block assets, liabilities, revenues and expenses are combined on a   
line-by-line basis with the assets, liabilities, revenues and expenses outside  
the closed block based on the nature of the particular item.                    

Information regarding the closed block liabilities and assets designated to 
the closed block was as follows:                                                

                                                        [Enlarge/Download Table]

                                                                                      December 31,    
                                                                                   -------------------
                                                                                     2012      2011   
                                                                                   --------- ---------
                                                                                      (In millions)   
                                                                                                      
Closed Block Liabilities                                                                              
Future policy benefits............................................................ $  42,586 $  43,169
Other policy-related balances.....................................................       298       358
Policyholder dividends payable....................................................       466       514
Policyholder dividend obligation..................................................     3,828     2,919
Other liabilities.................................................................       602       613
                                                                                   --------- ---------
   Total closed block liabilities.................................................    47,780    47,573
                                                                                   --------- ---------
Assets Designated to the Closed Block                                                                 
Investments:                                                                                          
 Fixed maturity securities available-for-sale, at estimated fair value............    30,546    30,407
 Equity securities available-for-sale, at estimated fair value....................        41        35
 Mortgage loans...................................................................     6,192     6,206
 Policy loans.....................................................................     4,670     4,657
 Real estate and real estate joint ventures.......................................       459       364
 Other invested assets............................................................       953       857
                                                                                   --------- ---------
   Total investments..............................................................    42,861    42,526
Cash and cash equivalents.........................................................       381       249
Accrued investment income.........................................................       481       509
Premiums, reinsurance and other receivables.......................................       107       109
Current income tax recoverable....................................................         2        53
Deferred income tax assets........................................................       319       362
                                                                                   --------- ---------
     Total assets designated to the closed block..................................    44,151    43,808
                                                                                   --------- ---------
Excess of closed block liabilities over assets designated to the closed block.....     3,629     3,765
                                                                                   --------- ---------
Amounts included in accumulated other comprehensive income (loss):                                    
 Unrealized investment gains (losses), net of income tax..........................     2,891     2,394
 Unrealized gains (losses) on derivatives, net of income tax......................         9        11
 Allocated to policyholder dividend obligation, net of income tax.................   (2,488)   (1,897)
                                                                                   --------- ---------
Total amounts included in accumulated other comprehensive income (loss)...........       412       508
                                                                                   --------- ---------
       Maximum future earnings to be recognized from closed block assets and                          
         liabilities.............................................................. $   4,041 $   4,273
                                                                                   ========= =========

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Notes to the Consolidated Financial Statements -- (Continued) 

Information regarding the closed block policyholder dividend obligation was 
as follows:                                                                     

                                                        [Enlarge/Download Table]

                                                                                  Years Ended December 31,  
                                                                                 ---------------------------
                                                                                    2012      2011    2010  
                                                                                 ---------- -------- -------
                                                                                        (In millions)       
                                                                                                            
Balance at January 1,........................................................... $    2,919 $    876 $    --
Change in unrealized investment and derivative gains (losses)...................        909    2,043     876
                                                                                 ---------- -------- -------
Balance at December 31,......................................................... $    3,828 $  2,919 $   876
                                                                                 ========== ======== =======

Information regarding the closed block revenues and expenses was as follows:

                                                        [Enlarge/Download Table]

                                                                           Years Ended December 31, 
                                                                          --------------------------
                                                                            2012     2011     2010  
                                                                          -------- -------- --------
                                                                                (In millions)       
                                                                                                    
Revenues                                                                                            
Premiums................................................................. $  2,139 $  2,306 $  2,461
Net investment income....................................................    2,188    2,231    2,292
Net investment gains (losses)............................................       61       32       39
Net derivative gains (losses)............................................     (12)        8     (27)
                                                                          -------- -------- --------
   Total revenues........................................................    4,376    4,577    4,765
                                                                          -------- -------- --------
Expenses                                                                                            
Policyholder benefits and claims.........................................    2,783    2,991    3,115
Policyholder dividends...................................................    1,072    1,137    1,235
Other expenses...........................................................      179      193      199
                                                                          -------- -------- --------
   Total expenses........................................................    4,034    4,321    4,549
                                                                          -------- -------- --------
Revenues, net of expenses before provision for income tax expense                                   
  (benefit)..............................................................      342      256      216
Provision for income tax expense (benefit)...............................      120       89       71
                                                                          -------- -------- --------
Revenues, net of expenses and provision for income tax expense (benefit)                            
  from continuing operations.............................................      222      167      145
Revenues, net of expenses and provision for income tax expense (benefit)                            
  from discontinued operations...........................................       10        1        1
                                                                          -------- -------- --------
Revenues, net of expenses and provision for income tax expense                                      
  (benefit).............................................................. $    232 $    168 $    146
                                                                          ======== ======== ========

Metropolitan Life Insurance Company charges the closed block with federal   
income taxes, state and local premium taxes and other additive state or local   
taxes, as well as investment management expenses relating to the closed block   
as provided in the Plan. Metropolitan Life Insurance Company also charges the   
closed block for expenses of maintaining the policies included in the closed    
block.                                                                          

8. Investments                                                                  

See Note 10 for information about the fair value hierarchy for investments  
and the related valuation methodologies.                                        

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Investment Risks and Uncertainties                                              

Investments are exposed to the following primary sources of risk: credit,   
interest rate, liquidity, market valuation, currency and real estate risk. The  
financial statement risks, stemming from such investment risks, are those       
associated with the determination of estimated fair values, the diminished      
ability to sell certain investments in times of strained market conditions, the 
recognition of impairments, the recognition of income on certain investments    
and the potential consolidation of VIEs. The use of different methodologies,    
assumptions and inputs relating to these financial statement risks may have a   
material effect on the amounts presented within the consolidated financial      
statements.                                                                     

The determination of valuation allowances and impairments is highly         
subjective and is based upon periodic evaluations and assessments of known and  
inherent risks associated with the respective asset class. Such evaluations and 
assessments are revised as conditions change and new information becomes        
available.                                                                      

 The recognition of income on certain investments (e.g. structured securities,
including mortgage-backed securities, asset-backed securities ("ABS"), certain  
structured investment transactions and trading and FVO securities) is dependent 
upon certain factors such as prepayments and defaults, and changes in such      
factors could result in changes in amounts to be earned.                        

Fixed Maturity and Equity Securities AFS                                    

Fixed Maturity and Equity Securities AFS by Sector                          

The following table presents the fixed maturity and equity securities AFS by
sector. The unrealized loss amounts presented below include the noncredit loss  
component of OTTI losses. Redeemable preferred stock is reported within U.S.    
corporate and foreign corporate fixed maturity securities and non-redeemable    
preferred stock is reported within equity securities. Included within fixed     
maturity securities are structured securities including RMBS, CMBS and ABS.     

                                                        [Enlarge/Download Table]

                                          December 31, 2012                             December 31, 2011               
                            --------------------------------------------- --------------------------------------------- 
                                          Gross Unrealized                               Gross Unrealized               
                             Cost or  ------------------------- Estimated  Cost or   ------------------------- Estimated
                            Amortized          Temporary  OTTI    Fair    Amortized           Temporary  OTTI    Fair   
                              Cost     Gains    Losses   Losses   Value     Cost      Gains    Losses   Losses   Value  
                            --------- -------- --------- ------ --------- ---------  -------- --------- ------ ---------
                                                                   (In millions)                                        
                                                                                                                        
Fixed Maturity Securities:                                                                                              
U.S. corporate............. $  59,587 $  7,717 $    304  $  --  $  67,000 $  56,298  $  6,113 $    715  $  --  $  61,696
U.S. Treasury and agency...    28,252    4,408        9     --     32,651    21,572     4,272       --     --     25,844
Foreign corporate (1)......    27,231    3,128      126    (1)     30,234    27,298     2,400      551      1     29,146
RMBS.......................    23,792    1,716      226    257     25,025    25,445     1,564      766    524     25,719
CMBS.......................     9,264      559       37     --      9,786     8,750       473      114      4      9,105
ABS (1)....................     8,025      205      105     --      8,125     6,589       156      166    (7)      6,586
State and political                                                                                                     
 subdivision...............     5,554    1,184       18     --      6,720     5,387       842       47     --      6,182
Foreign government.........     3,052    1,086        3     --      4,135     3,037       915       52     --      3,900
                            --------- -------- --------- ------ --------- ---------  -------- --------- ------ ---------
 Total fixed maturity                                                                                                   
  securities............... $ 164,757 $ 20,003 $    828  $ 256  $ 183,676 $ 154,376  $ 16,735 $  2,411  $ 522  $ 168,178
                            ========= ======== ========= ====== ========= =========  ======== ========= ====== =========
Equity Securities:                                                                                                      
Common..................... $   1,013 $     33 $      5  $  --  $   1,041 $     830  $     32 $      6  $  --  $     856
Non-redeemable preferred...       528       41      111     --        458       549        11      138     --        422
                            --------- -------- --------- ------ --------- ---------  -------- --------- ------ ---------
 Total equity securities... $   1,541 $     74 $    116  $  --  $   1,499 $   1,379  $     43 $    144  $  --  $   1,278
                            ========= ======== ========= ====== ========= =========  ======== ========= ====== =========

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(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

--------                                                                        

(1)OTTI losses, as presented above, represent the noncredit portion of OTTI     
losses that is included in AOCI. OTTI losses include both the initial     
  recognition of noncredit losses, and the effects of subsequent increases and
decreases in estimated fair value for those fixed maturity securities that
were previously noncredit loss impaired. The noncredit loss component of  
OTTI losses for foreign corporate securities was in an unrealized gain    
position of $1 million at December 31, 2012 and $7 million for ABS at     
December 31, 2011, due to increases in estimated fair value subsequent to 
  initial recognition of noncredit losses on such securities. See also "-- Net
Unrealized Investment Gains (Losses)."                                    

The Company held non-income producing fixed maturity securities with an     
estimated fair value of $41 million and $7 million with unrealized gains        
(losses) of $6 million and ($3) million at December 31, 2012 and 2011,          
respectively.                                                                   

Methodology for Amortization of Discount or Premium on Structured Securities

Amortization of the discount or premium on structured securities considers  
the estimated timing and amount of prepayments of the underlying loans. Actual  
prepayment experience is periodically reviewed and effective yields are         
recalculated when differences arise between the originally anticipated and the  
actual prepayments received and currently anticipated. Prepayment assumptions   
for single class and multi-class mortgage-backed and ABS are estimated using    
inputs obtained from third-party specialists and based on management's          
knowledge of the current market. For credit-sensitive mortgage-backed and ABS   
and certain prepayment-sensitive securities, the effective yield is             
recalculated on a prospective basis. For all other mortgage-backed and ABS, the 
effective yield is recalculated on a retrospective basis.                       

Maturities of Fixed Maturity Securities                                     

The amortized cost and estimated fair value of fixed maturity securities, by
contractual maturity date, were as follows at:                                  

                                                        [Enlarge/Download Table]

                                                                  December 31,                
                                                   -------------------------------------------
                                                           2012                  2011         
                                                   --------------------- ---------------------
                                                              Estimated             Estimated 
                                                   Amortized    Fair     Amortized    Fair    
                                                     Cost       Value      Cost       Value   
                                                   ---------- ---------- ---------- ----------
                                                                  (In millions)               
                                                                                              
Due in one year or less........................... $   12,671 $   12,796 $    8,089 $    8,159
Due after one year through five years.............     30,187     32,160     26,375     27,486
Due after five years through ten years............     34,983     40,009     34,660     38,517
Due after ten years...............................     45,835     55,775     44,468     52,606
                                                   ---------- ---------- ---------- ----------
  Subtotal........................................    123,676    140,740    113,592    126,768
Structured securities (RMBS, CMBS and ABS)........     41,081     42,936     40,784     41,410
                                                   ---------- ---------- ---------- ----------
   Total fixed maturity securities................ $  164,757 $  183,676 $  154,376 $  168,178
                                                   ========== ========== ========== ==========

Actual maturities may differ from contractual maturities due to the exercise
of call or prepayment options. Fixed maturity securities not due at a single    
maturity date have been presented in the year of final contractual maturity.    
RMBS, CMBS and ABS are shown separately, as they are not due at a single        
maturity.                                                                       

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(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Continuous Gross Unrealized Losses for Fixed Maturity and Equity Securities AFS 
by Sector                                                                       

The following table presents the estimated fair value and gross unrealized  
losses of fixed maturity and equity securities AFS in an unrealized loss        
position, aggregated by sector and by length of time that the securities have   
been in a continuous unrealized loss position. The unrealized loss amounts      
include the noncredit component of OTTI loss.                                   

                                                        [Enlarge/Download Table]

                                              December 31, 2012                         December 31, 2011            
                                  ----------------------------------------- -----------------------------------------
                                                       Equal to or Greater                       Equal to or Greater 
                                  Less than 12 Months     than 12 Months    Less than 12 Months     than 12 Months   
                                  -------------------- -------------------- -------------------- --------------------
                                  Estimated   Gross    Estimated   Gross    Estimated   Gross    Estimated   Gross   
                                    Fair    Unrealized   Fair    Unrealized   Fair    Unrealized   Fair    Unrealized
                                    Value     Losses     Value     Losses     Value     Losses     Value     Losses  
                                  --------- ---------- --------- ---------- --------- ---------- --------- ----------
                                                      (In millions, except number of securities)                     
                                                                                                                     
Fixed Maturity Securities:                                                                                           
U.S. corporate................... $  2,567    $   58   $  2,507    $  246   $   5,669  $    204  $  3,170   $    511 
U.S. Treasury and agency.........    1,576         9         --        --       2,189        --        --         -- 
Foreign corporate................      758        34      1,381        91       4,560       334     1,258        218 
RMBS.............................      639        18      3,098       465       2,647       407     3,241        883 
CMBS.............................      727         5        308        32         709        66       365         52 
ABS..............................    1,246        22        697        83       2,557        45       608        114 
State and political                                                                                                  
 subdivision.....................       92         1        103        17          31        --       169         47 
Foreign government...............      106         1         27         2         499        44        88          8 
                                  --------    ------   --------    ------   ---------  --------  --------   -------- 
  Total fixed maturity                                                                                               
   securities.................... $  7,711    $  148   $  8,121    $  936   $  18,861  $  1,100  $  8,899   $  1,833 
                                  ========    ======   ========    ======   =========  ========  ========   ======== 
Equity Securities:                                                                                                   
Common........................... $     62    $    5   $      1    $   --   $       4  $      6  $     --   $     -- 
Non-redeemable preferred.........       --        --        190       111         126        14       238        124 
                                  --------    ------   --------    ------   ---------  --------  --------   -------- 
  Total equity securities........ $     62    $    5   $    191    $  111   $     130  $     20  $    238   $    124 
                                  ========    ======   ========    ======   =========  ========  ========   ======== 
Total number of securities in an                                                                                     
 unrealized loss position........      622                  637                 1,412                 819            
                                  ========             ========             =========            ========            

 Evaluation of AFS Securities for OTTI and Evaluating Temporarily Impaired AFS
Securities                                                                  

Evaluation and Measurement Methodologies                                    

  Management considers a wide range of factors about the security issuer and
uses its best judgment in evaluating the cause of the decline in the        
estimated fair value of the security and in assessing the prospects for     
near-term recovery. Inherent in management's evaluation of the security are 
assumptions and estimates about the operations of the issuer and its future 
earnings potential. Considerations used in the impairment evaluation process
include, but are not limited to: (i) the length of time and the extent to   
which the estimated fair value has been below cost or amortized cost;       
(ii) the potential for impairments of securities when the issuer is         
experiencing significant financial difficulties; (iii) the potential for    
impairments in an entire industry sector or sub-sector; (iv) the potential  
for impairments in certain economically depressed geographic locations;     
(v) the potential for impairments of securities where the issuer, series of 
 issuers or industry has suffered a catastrophic type of loss or has exhausted
  natural resources; (vi) with respect to fixed maturity securities, whether the

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Notes to the Consolidated Financial Statements -- (Continued) 

Company has the intent to sell or will more likely than not be required to  
sell a particular security before the decline in estimated fair value below 
 amortized cost recovers; (vii) with respect to structured securities, changes
in forecasted cash flows after considering the quality of underlying        
 collateral, expected prepayment speeds, current and forecasted loss severity,
consideration of the payment terms of the underlying assets backing a       
 particular security, and the payment priority within the tranche structure of
the security; and (viii) other subjective factors, including concentrations 
and information obtained from regulators and rating agencies.               

The methodology and significant inputs used to determine the amount of  
credit loss on fixed maturity securities are as follows:                    

.  The Company calculates the recovery value by performing a discounted 
     cash flow analysis based on the present value of future cash flows. The
    discount rate is generally the effective interest rate of the security
prior to impairment.                                              

.  When determining collectability and the period over which value is   
     expected to recover, the Company applies considerations utilized in its
  overall impairment evaluation process which incorporates information
regarding the specific security, fundamentals of the industry and 
geographic area in which the security issuer operates, and overall
 macroeconomic conditions. Projected future cash flows are estimated
  using assumptions derived from management's best estimates of likely
scenario-based outcomes after giving consideration to a variety of
  variables that include, but are not limited to: payment terms of the
   security; the likelihood that the issuer can service the interest and
    principal payments; the quality and amount of any credit enhancements;
 the security's position within the capital structure of the issuer;
 possible corporate restructurings or asset sales by the issuer; and
     changes to the rating of the security or the issuer by rating agencies.

.  Additional considerations are made when assessing the unique features
    that apply to certain structured securities including, but not limited
   to: the quality of underlying collateral, expected prepayment speeds;
      current and forecasted loss severity, consideration of the payment terms
      of the underlying loans or assets backing a particular security, and the
payment priority within the tranche structure of the security.    

.  When determining the amount of the credit loss for U.S. and foreign  
corporate securities, foreign government securities and state and 
      political subdivision securities, the estimated fair value is considered
  the recovery value when available information does not indicate that
    another value is more appropriate. When information is identified that
    indicates a recovery value other than estimated fair value, management
      considers in the determination of recovery value the same considerations
   utilized in its overall impairment evaluation process as described in
      (ii) above, as well as private and public sector programs to restructure
such securities.                                                  

With respect to securities that have attributes of debt and equity      
 (perpetual hybrid securities), consideration is given in the OTTI analysis as
to whether there has been any deterioration in the credit of the issuer and 
the likelihood of recovery in value of the securities that are in a severe  
and extended unrealized loss position. Consideration is also given as to    
whether any perpetual hybrid securities, with an unrealized loss, regardless
of credit rating, have deferred any dividend payments. When an OTTI loss has
 occurred, the OTTI loss is the entire difference between the perpetual hybrid
security's cost and its estimated fair value with a corresponding charge to 
earnings.                                                                   

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Notes to the Consolidated Financial Statements -- (Continued) 

The cost or amortized cost of fixed maturity and equity securities is   
adjusted for OTTI in the period in which the determination is made. The     
Company does not change the revised cost basis for subsequent recoveries in 
value.                                                                      

In periods subsequent to the recognition of OTTI on a fixed maturity    
security, the Company accounts for the impaired security as if it had been  
purchased on the measurement date of the impairment. Accordingly, the       
discount (or reduced premium) based on the new cost basis is accreted over  
the remaining term of the fixed maturity security in a prospective manner   
based on the amount and timing of estimated future cash flows.              

Current Period Evaluation                                                   

Based on the Company's current evaluation of its AFS securities in an   
unrealized loss position in accordance with its impairment policy, and the  
Company's current intentions and assessments (as applicable to the type of  
security) about holding, selling and any requirements to sell these         
securities, the Company has concluded that these securities are not         
 other-than-temporarily impaired at December 31, 2012. Future OTTI will depend
primarily on economic fundamentals, issuer performance (including changes in
the present value of future cash flows expected to be collected), changes in
credit ratings, changes in collateral valuation, changes in interest rates  
and changes in credit spreads. If economic fundamentals or any of the above 
factors deteriorate, additional OTTI may be incurred in upcoming periods.   

  Gross unrealized losses on fixed maturity securities in an unrealized loss
position decreased $1.8 billion during the year ended December 31, 2012 from
$2.9 billion to $1.1 billion. The decline in, or improvement in, gross      
unrealized losses for the year ended December 31, 2012, was primarily       
attributable to narrowing credit spreads and a decrease in interest rates.  

At December 31, 2012, $389 million of the total $1.1 billion of gross   
unrealized losses were from 102 fixed maturity securities with an unrealized
loss position of 20% or more of amortized cost for six months or greater.   

Investment Grade Fixed Maturity Securities                                  

   Of the $1.1 billion of gross unrealized losses on fixed maturity securities
with an unrealized loss of 20% or more of amortized cost for six months or  
greater, $172 million, or 44%, are related to gross unrealized losses on 50 
investment grade fixed maturity securities. Unrealized losses on investment 
grade fixed maturity securities are principally related to widening credit  
spreads or rising interest rates since purchase.                            

Below Investment Grade Fixed Maturity Securities                            

   Of the $1.1 billion of gross unrealized losses on fixed maturity securities
with an unrealized loss of 20% or more of amortized cost for six months or  
greater, $217 million, or 56%, are related to gross unrealized losses on 52 
below investment grade fixed maturity securities. Unrealized losses on below
investment grade fixed maturity securities are principally related to       
non-agency RMBS (primarily alternative residential mortgage loans and       
sub-prime residential mortgage loans), ABS (primarily collateralized debt   
obligations) and U.S and foreign corporate securities (primarily financial  
services industry securities) and are the result of significantly wider     
credit spreads resulting from higher risk premiums since purchase, largely  
due to economic and market uncertainties including concerns over the        
financial services industry sector, unemployment levels and valuations of   
residential real estate supporting non-agency RMBS. Management evaluates    
 these U.S. and foreign corporate securities based on factors such as expected
cash flows and the financial condition and                                  

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

near-term and long-term prospects of the issuer; and evaluates non-agency   
RMBS and ABS based on actual and projected cash flows after considering the 
quality of underlying collateral, expected prepayment speeds, current and   
forecasted loss severity, consideration of the payment terms of the         
underlying assets backing a particular security, and the payment priority   
within the tranche structure of the security.                               

Equity Securities                                                           

Equity securities in an unrealized loss position decreased $28 million  
 during the year ended December 31, 2012 from $144 million to $116 million. Of
the $116 million, $99 million were from 13 equity securities with gross     
unrealized losses of 20% or more of cost for 12 months or greater, of which 
90% were financial services industry investment grade non-redeemable        
preferred stock, of which 75% were rated A, AA, or AAA.                     

Trading and FVO Securities                                                      

See Note 10 for tables that present the four categories of securities that  
comprise trading and FVO securities. See "-- Net Investment Income" and "-- Net 
Investment Gains (Losses)" for the net investment income recognized on trading  
and FVO securities and the related changes in estimated fair value subsequent   
to purchase included in net investment income and net investment gains (losses) 
for securities still held as of the end of the respective years, as applicable. 

Mortgage Loans                                                                  

Mortgage Loans by Portfolio Segment                                         

Mortgage loans are summarized as follows at:                                

                                                                [Download Table]

                                                        December 31,                
                                         ------------------------------------------ 
                                                 2012                  2011         
                                         --------------------  -------------------- 
                                           Carrying     % of     Carrying     % of  
                                             Value      Total      Value      Total 
                                         ------------- ------  ------------- ------ 
                                         (In millions)         (In millions)        
                                                                                    
Mortgage loans:                                                                     
  Commercial............................   $  33,369    74.7 %   $  32,774    74.7 %
  Agricultural..........................      11,487     25.7       11,498     26.2 
  Residential...........................         105      0.3            1       -- 
                                           ---------   ------    ---------   ------ 
   Subtotal (1).........................      44,961    100.7       44,273    100.9 
  Valuation allowances..................       (304)    (0.7)        (393)    (0.9) 
                                           ---------   ------    ---------   ------ 
   Total mortgage loans, net............   $  44,657   100.0 %   $  43,880   100.0 %
                                           =========   ======    =========   ====== 

--------                                                                        

(1)In 2012, the Company purchased $1.2 billion, $191 million and $105 million   
  of commercial, agricultural and residential mortgage loans, respectively, of
 which $1.2 billion and $191 million of commercial and agricultural mortgage
loans, respectively, were purchased at estimated fair value from an       
 affiliate, MetLife Bank, National Association ("MetLife Bank"). The Company
purchased $64 million of commercial mortgage loans during the year ended  
December 31, 2011.                                                        

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Notes to the Consolidated Financial Statements -- (Continued) 

Mortgage Loans and Valuation Allowance by Portfolio Segment                 

The carrying value prior to valuation allowance ("recorded investment") in  
mortgage loans, by portfolio segment, by method of evaluation of credit loss,   
and the related valuation allowances, by type of credit loss, were as follows:  

                                                        [Enlarge/Download Table]

                                                                       December 31,                                        
                                -------------------------------------------------------------------------------------------
                                                    2012                                          2011                     
                                --------------------------------------------- ---------------------------------------------
                                Commercial Agricultural Residential   Total   Commercial Agricultural Residential   Total  
                                ---------- ------------ ----------- --------- ---------- ------------ ----------- ---------
                                                                       (In millions)                                       
                                                                                                                           
Mortgage loans:                                                                                                            
  Evaluated individually for                                                                                               
   credit losses............... $     441   $     181     $   --    $     622 $      73   $     159     $    --   $     232
  Evaluated collectively for                                                                                               
   credit losses...............    32,928      11,306        105       44,339    32,701      11,339           1      44,041
                                ---------- ------------ ----------- --------- ---------- ------------ ----------- ---------
   Total mortgage loans........    33,369      11,487        105       44,961    32,774      11,498           1      44,273
                                ---------- ------------ ----------- --------- ---------- ------------ ----------- ---------
Valuation allowances:                                                                                                      
  Specific credit losses.......        84          21         --          105        44          45          --          89
  Non-specifically identified                                                                                              
   credit losses...............       172          27         --          199       274          30          --         304
                                ---------- ------------ ----------- --------- ---------- ------------ ----------- ---------
   Total valuation                                                                                                         
    allowances.................       256          48         --          304       318          75          --         393
                                ---------- ------------ ----------- --------- ---------- ------------ ----------- ---------
    Mortgage loans, net of                                                                                                 
     valuation                                                                                                             
     allowance................. $  33,113   $  11,439     $  105    $  44,657 $  32,456   $  11,423     $     1   $  43,880
                                ========== ============ =========== ========= ========== ============ =========== =========

Valuation Allowance Rollforward by Portfolio Segment                        

  The changes in the valuation allowance, by portfolio segment, were as follows:

                                                                [Download Table]

                                         Commercial Agricultural  Total  
                                         ---------- ------------ --------
                                                  (In millions)          
                                                                         
Balance at January 1, 2010..............  $    492    $   102    $    594
Provision (release).....................      (39)         12        (27)
Charge-offs, net of recoveries..........      (12)       (33)        (45)
                                         ---------- ------------ --------
Balance at December 31, 2010............       441         81         522
Provision (release).....................     (111)        (2)       (113)
Charge-offs, net of recoveries..........      (12)        (4)        (16)
                                         ---------- ------------ --------
Balance at December 31, 2011............       318         75         393
Provision (release).....................      (50)          2        (48)
Charge-offs, net of recoveries..........      (12)       (24)        (36)
Transfer to held-for-sale...............        --        (5)         (5)
                                         ---------- ------------ --------
Balance at December 31, 2012............  $    256    $    48    $    304
                                         ========== ============ ========

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Notes to the Consolidated Financial Statements -- (Continued) 

Valuation Allowance Methodology                                             

Mortgage loans are considered to be impaired when it is probable that,  
based upon current information and events, the Company will be unable to    
collect all amounts due under the loan agreement. Specific valuation        
 allowances are established using the same methodology for all three portfolio
segments as the excess carrying value of a loan over either (i) the present 
value of expected future cash flows discounted at the loan's original       
effective interest rate, (ii) the estimated fair value of the loan's        
underlying collateral if the loan is in the process of foreclosure or       
otherwise collateral dependent, or (iii) the loan's observable market price.
 A common evaluation framework is used for establishing non-specific valuation
allowances for all loan portfolio segments; however, a separate non-specific
valuation allowance is calculated and maintained for each loan portfolio    
segment that is based on inputs unique to each loan portfolio segment.      
Non-specific valuation allowances are established for pools of loans with   
similar risk characteristics where a property-specific or market-specific   
risk has not been identified, but for which the Company expects to incur a  
credit loss. These evaluations are based upon several loan portfolio        
 segment-specific factors, including the Company's experience for loan losses,
 defaults and loss severity, and loss expectations for loans with similar risk
characteristics. These evaluations are revised as conditions change and new 
information becomes available.                                              

Commercial and Agricultural Mortgage Loan Portfolio Segments                

The Company typically uses several years of historical experience in    
establishing non-specific valuation allowances which captures multiple      
economic cycles. For evaluations of commercial loans, in addition to        
historical experience, management considers factors that include the impact 
of a rapid change to the economy, which may not be reflected in the loan    
portfolio, and recent loss and recovery trend experience as compared to     
historical loss and recovery experience. For evaluations of agricultural    
loans, in addition to historical experience, management considers factors   
that include increased stress in certain sectors, which may be evidenced by 
higher delinquency rates, or a change in the number of higher risk loans. On
 a quarterly basis, management incorporates the impact of these current market
events and conditions on historical experience in determining the           
non-specific valuation allowance established for each portfolio segment.    

  All commercial loans are reviewed on an ongoing basis which may include an
analysis of the property financial statements and rent roll, lease rollover 
analysis, property inspections, market analysis, estimated valuations of the
underlying collateral, loan-to-value ratios, debt service coverage ratios,  
and tenant creditworthiness. All agricultural loans are monitored on an     
ongoing basis. The monitoring process focuses on higher risk loans, which   
include those that are classified as restructured, potentially delinquent,  
delinquent or in foreclosure, as well as loans with higher loan-to-value    
ratios and lower debt service coverage ratios. The monitoring process for   
agricultural loans is generally similar to the commercial loan monitoring   
 process, with a focus on higher risk loans, including reviews on a geographic
and property-type basis. Higher risk loans are reviewed individually on an  
 ongoing basis for potential credit loss and specific valuation allowances are
established using the methodology described above for all loan portfolio    
segments. Quarterly, the remaining loans are reviewed on a pool basis by    
aggregating groups of loans that have similar risk characteristics for      
potential credit loss, and non-specific valuation allowances are established
as described above using inputs that are unique to each segment of the loan 
portfolio.                                                                  

For commercial loans, the primary credit quality indicator is the debt  
service coverage ratio, which compares a property's net operating income to 
amounts needed to service the principal and interest due under the loan.    
Generally, the lower the debt service coverage ratio, the higher the risk of
experiencing a credit loss. The Company also reviews the loan-to-value ratio
of its commercial loan portfolio. Loan-to-value ratios                      

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Notes to the Consolidated Financial Statements -- (Continued) 

compare the unpaid principal balance of the loan to the estimated fair value
of the underlying collateral. Generally, the higher the loan-to-value ratio,
the higher the risk of experiencing a credit loss. The debt service coverage
ratio and loan-to-value ratio, as well as the values utilized in calculating
 these ratios, are updated annually, on a rolling basis, with a portion of the
loan portfolio updated each quarter.                                        

 For agricultural loans, the Company's primary credit quality indicator is
the loan-to-value ratio. The values utilized in calculating this ratio are  
developed in connection with the ongoing review of the agricultural loan    
portfolio and are routinely updated. Additionally, the Company focuses the  
monitoring process on higher risk loans, including reviews on a geographic  
and property-type basis.                                                    

Residential Mortgage Loan Portfolio Segment                                 

 The Company's residential loan portfolio is comprised primarily of closed
end, amortizing residential loans. For evaluations of residential loans, the
key inputs of expected frequency and expected loss reflect current market   
conditions, with expected frequency adjusted, when appropriate, for         
differences from market conditions and the Company's historical experience. 
In contrast to the commercial and agricultural loan portfolios, residential 
loans are smaller-balance homogeneous loans that are collectively evaluated 
for impairment. Non-specific valuation allowances are established using the 
evaluation framework described above for pools of loans with similar risk   
 characteristics from inputs that are unique to the residential segment of the
loan portfolio. Loan specific valuation allowances are only established on  
residential loans when they have been restructured and are established using
the methodology described above for all loan portfolio segments.            

For residential loans, the Company's primary credit quality indicator is
whether the loan is performing or non-performing. The Company generally     
defines non-performing residential loans as those that are 90 or more days  
past due and/or in non-accrual status which is assessed monthly. Generally, 
non-performing residential loans have a higher risk of experiencing a credit
loss.                                                                       

Credit Quality of Commercial Mortgage Loans                                     

Information about the credit quality of commercial mortgage loans is        
presented below at:                                                             

                                                        [Enlarge/Download Table]

                                      Recorded Investment                                      
                       -------------------------------------------------                       
                         Debt Service Coverage Ratios                                          
                       --------------------------------            % of     Estimated    % of  
                        > 1.20x  1.00x - 1.20x < 1.00x    Total    Total   Fair Value    Total 
                       --------- ------------- -------- --------- ------  ------------- ------ 
                                     (In millions)                        (In millions)        
                                                                                               
December 31, 2012:                                                                             
Loan-to-value ratios:                                                                          
Less than 65%......... $  24,906   $    452    $    575 $  25,933  77.7 %   $  27,894    78.8 %
65% to 75%............     4,254        641         108     5,003   15.0        5,218     14.7 
76% to 80%............       448        123         259       830    2.5          863      2.4 
Greater than 80%......       847        501         255     1,603    4.8        1,451      4.1 
                       ---------   --------    -------- --------- ------    ---------   ------ 
 Total................ $  30,455   $  1,717    $  1,197 $  33,369 100.0 %   $  35,426   100.0 %
                       =========   ========    ======== ========= ======    =========   ====== 
December 31, 2011:                                                                             
Loan-to-value ratios:                                                                          
Less than 65%......... $  20,510   $    389    $    332 $  21,231  64.8 %   $  22,547    66.1 %
65% to 75%............     6,919        237         268     7,424   22.6        7,734     22.6 
76% to 80%............       950         98         200     1,248    3.8        1,251      3.7 
Greater than 80%......     1,880        674         317     2,871    8.8        2,588      7.6 
                       ---------   --------    -------- --------- ------    ---------   ------ 
 Total................ $  30,259   $  1,398    $  1,117 $  32,774 100.0 %   $  34,120   100.0 %
                       =========   ========    ======== ========= ======    =========   ====== 

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

Credit Quality of Agricultural Mortgage Loans                                   

Information about the credit quality of agricultural mortgage loans is      
presented below at:                                                             

                                                                [Download Table]

                                        December 31,                  
                       ---------------------------------------------- 
                                2012                    2011          
                       ----------------------  ---------------------- 
                         Recorded      % of      Recorded      % of   
                        Investment     Total    Investment     Total  
                       ------------- --------  ------------- -------- 
                       (In millions)           (In millions)          
                                                                      
Loan-to-value ratios:                                                 
Less than 65%.........   $  10,628      92.5 %   $  10,378      90.2 %
65% to 75%............         514        4.5          732        6.4 
76% to 80%............          92        0.8           12        0.1 
Greater than 80%......         253        2.2          376        3.3 
                       ------------- --------  ------------- -------- 
 Total................   $  11,487     100.0 %   $  11,498     100.0 %
                       ============= ========  ============= ======== 

 The estimated fair value of agricultural mortgage loans was $11.8 billion and
$11.9 billion at December 31, 2012 and 2011, respectively.                      

Credit Quality of Residential Mortgage Loans                                    

All residential mortgage loans were performing at both December 31, 2012 and
2011; accordingly, residential mortgage loan data is not presented in the       
following past due, impaired and troubled debt restructuring tables. The        
estimated fair value of residential mortgage loans was $109 million and         
$1 million at December 31, 2012 and 2011, respectively.                         

Past Due and Interest Accrual Status of Mortgage Loans                          

 The Company has a high quality, well performing mortgage loan portfolio, with
99% of all mortgage loans classified as performing at both December 31, 2012    
and 2011. The Company defines delinquent mortgage loans consistent with         
industry practice, when interest and principal payments are past due as         
follows: commercial and residential mortgage loans -- 60 days; and agricultural 
mortgage loans -- 90 days. The recorded investment in mortgage loans, prior to  
valuation allowances, past due according to these aging categories, greater     
than 90 days past due and still accruing interest and in nonaccrual status, by  
portfolio segment, were as follows at:                                          

                                                        [Enlarge/Download Table]

                                                                                Greater than 90 Days Past Due   
                                                      Past Due                   and Still Accruing Interest    
                                         ----------------------------------- -----------------------------------
                                         December 31, 2012 December 31, 2011 December 31, 2012 December 31, 2011
                                         ----------------- ----------------- ----------------- -----------------
                                                                                        (In millions)           
                                                                                                                
Commercial..............................     $      --         $      63         $     --          $     --     
Agricultural............................           116               139               53                27     
                                         ----------------- ----------------- ----------------- -----------------
  Total.................................     $     116         $     202         $     53          $     27     
                                         ================= ================= ================= =================
                                                                [Download Table]


                                                  Nonaccrual Status         
                                         -----------------------------------
                                         December 31, 2012 December 31, 2011
                                         ----------------- -----------------

                                                                            
Commercial..............................     $      83         $      63    
Agricultural............................            67               150    
                                         ----------------- -----------------
  Total.................................     $     150         $     213    
                                         ================= =================

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Notes to the Consolidated Financial Statements -- (Continued) 

Impaired Mortgage Loans                                                     

Information regarding impaired mortgage loans, including those modified in a
troubled debt restructuring, by portfolio segment, were as follows at and for   
the periods ended:                                                              

                                                        [Enlarge/Download Table]

                                                                 Loans without                                            
                         Loans with a Valuation Allowance     a Valuation Allowance           All Impaired Loans          
                     ---------------------------------------- --------------------  --------------------------------------
                      Unpaid                                   Unpaid                Unpaid             Average           
                     Principal  Recorded  Valuation  Carrying Principal   Recorded  Principal Carrying  Recorded  Interest
December 31,          Balance  Investment Allowances  Value    Balance   Investment  Balance   Value   Investment  Income 
-------------------  --------- ---------- ---------- -------- ---------  ---------- --------- -------- ---------- --------
                                                 (In millions)                                                            
                                                                                                                          
2012:                                                                                                                     
Commercial..........  $  367     $  359     $   84    $  275   $   82      $   82    $  449    $  357    $  384    $  11  
Agricultural........     110        107         21        86       79          74       189       160       201        8  
                     --------- ---------- ---------- -------- ---------  ---------- --------- -------- ---------- --------
 Total..............  $  477     $  466     $  105    $  361   $  161      $  156    $  638    $  517    $  585    $  19  
                     ========= ========== ========== ======== =========  ========== ========= ======== ========== ========
2011:                                                                                                                     
Commercial..........  $   73     $   73     $   44    $   29   $  225      $  209    $  298    $  238    $  257    $   5  
Agricultural........     160        159         45       114       62          60       222       174       239        3  
                     --------- ---------- ---------- -------- ---------  ---------- --------- -------- ---------- --------
 Total..............  $  233     $  232     $   89    $  143   $  287      $  269    $  520    $  412    $  496    $   8  
                     ========= ========== ========== ======== =========  ========== ========= ======== ========== ========

Unpaid principal balance is generally prior to any charge-offs. Interest    
income recognized is primarily cash basis income. The average recorded          
investment for commercial and agricultural mortgage loans was $126 million and  
$259 million, respectively, for the year ended December 31, 2010; and interest  
income recognized for commercial and agricultural mortgage loans was $4 million 
and $8 million, respectively, for the year ended December 31, 2010.             

Mortgage Loans Modified in a Troubled Debt Restructuring                    

For a small portion of the mortgage loan portfolio, classified as troubled  
debt restructurings, concessions are granted related to borrowers experiencing  
financial difficulties. Generally, the types of concessions include: reduction  
of the contractual interest rate, extension of the maturity date at an interest 
rate lower than current market interest rates, and/or a reduction of accrued    
interest. The amount, timing and extent of the concession granted is considered 
in determining any impairment or changes in the specific valuation allowance    
recorded with the restructuring. Through the continuous monitoring process, a   
specific valuation allowance may have been recorded prior to the quarter when   
the mortgage loan is modified in a troubled debt restructuring. Accordingly,    
the carrying value (after specific valuation allowance) before and after        
modification through a troubled debt restructuring may not change               
significantly, or may increase if the expected recovery is higher than the      
pre-modification recovery assessment. The number of mortgage loans and carrying 
value after specific valuation allowance of mortgage loans modified during the  
period in a troubled debt restructuring were as follows:                        

                                                        [Enlarge/Download Table]

                                 For the Years Ended December 31,                            
              -------------------------------------------------------------------------------
                             2012                                    2011                    
              --------------------------------------- ---------------------------------------
              Number of                               Number of                              
              Mortgage  Carrying Value after Specific Mortgage  Carrying Value after Specific
                Loans      Valuation Allowance          Loans      Valuation Allowance       
              --------- ----------------------------- --------- -----------------------------
                            Pre-          Post-                     Pre-          Post-      
                        Modification   Modification             Modification   Modification  
                        ------------   ------------             ------------   ------------  
                              (In millions)                           (In millions)          
                                                                                             
Commercial...     1       $    168       $    152         4       $    125       $     87    
Agricultural.     5             17             16         9             40             40    
              --------- ------------   ------------   --------- ------------   ------------  
  Total......     6       $    185       $    168        13       $    165       $    127    
              ========= ============   ============   ========= ============   ============  

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

There were no mortgage loans during the previous 12 months modified in a    
troubled debt restructuring with a subsequent payment default at December 31,   
2012. During the 12 months ended December 31, 2011, the Company had three       
agricultural mortgage loans, with a carrying value after specific valuation     
allowance of $11 million, modified in a troubled debt restructuring with a      
subsequent payment default. Payment default is determined in the same manner as 
delinquency status -- when interest and principal payments are past due.        

Other Invested Assets                                                           

 Other invested assets is comprised primarily of freestanding derivatives with
positive estimated fair values (see Note 9), tax credit partnerships, loans to  
affiliates (see "-- Related Party Investment Transactions") and leveraged       
leases.                                                                         

Leveraged Leases                                                            

Investment in leveraged leases, included in other invested assets, consisted
of the following:                                                               

                                                                [Download Table]

                                    December 31,    
                                 -------------------
                                   2012      2011   
                                 -------- ----------
                                    (In millions)   
                                                    
Rental receivables, net......... $  1,465 $    1,761
Estimated residual values.......      927      1,110
                                 -------- ----------
 Subtotal.......................    2,392      2,871
Unearned income.................    (834)    (1,039)
                                 -------- ----------
 Investment in leveraged leases. $  1,558 $    1,832
                                 ======== ==========

Rental receivables are generally due in periodic installments. The payment  
periods range from one to 15 years, but in certain circumstances, are as long   
as 33 years. For rental receivables, the primary credit quality indicator is    
whether the rental receivable is performing or non-performing, which is         
assessed monthly. The Company generally defines non-performing rental           
receivables as those that are 90 days or more past due. At December 31, 2012    
and 2011, all rental receivables were performing.                               

The deferred income tax liability related to leveraged leases was           
$1.4 billion and $1.3 billion at December 31, 2012 and 2011, respectively.      

The components of income from investment in leveraged leases, excluding net     
investment gains (losses) were as follows:                                      

                                                                [Download Table]

                                                   Years Ended December 31,
                                                   ------------------------
                                                    2012     2011    2010  
                                                    ------  ------  ------ 
                                                      (In millions)        
                                                                           
Income from investment in leveraged leases........ $   34   $  101  $  102 
Less: Income tax expense on leveraged leases......   (12)     (35)    (36) 
                                                    ------  ------  ------ 
Investment income after income tax from                                    
  investment in leveraged leases.................. $   22   $   66  $   66 
                                                    ======  ======  ====== 

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

Cash Equivalents                                                                

The carrying value of cash equivalents, which includes securities and other 
investments with an original or remaining maturity of three months or less at   
the time of purchase, was $1.1 billion and $1.2 billion at December 31, 2012    
and 2011, respectively.                                                         

Net Unrealized Investment Gains (Losses)                                        

 The components of net unrealized investment gains (losses), included in AOCI,
were as follows:                                                                

                                                        [Enlarge/Download Table]

                                                                           Years Ended December 31,  
                                                                         ----------------------------
                                                                           2012      2011      2010  
                                                                         --------- --------- --------
                                                                                (In millions)        
                                                                                                     
Fixed maturity securities............................................... $  19,120 $  14,266 $  6,189
Fixed maturity securities with noncredit OTTI losses in accumulated                                  
  other comprehensive income (loss).....................................     (256)     (522)    (419)
                                                                         --------- --------- --------
   Total fixed maturity securities......................................    18,864    13,744    5,770
Equity securities.......................................................      (13)      (98)     (66)
Derivatives.............................................................     1,052     1,293       90
Short-term investments..................................................       (2)      (10)     (13)
Other...................................................................        18        45       48
                                                                         --------- --------- --------
   Subtotal.............................................................    19,919    14,974    5,829
                                                                         --------- --------- --------
Amounts allocated from:                                                                              
 Insurance liability loss recognition...................................   (5,120)   (3,495)    (426)
 DAC and VOBA related to noncredit OTTI losses recognized in                                         
   accumulated other comprehensive income (loss)........................        12        33       27
 DAC and VOBA...........................................................   (1,231)   (1,102)    (833)
 Policyholder dividend obligation.......................................   (3,828)   (2,919)    (876)
                                                                         --------- --------- --------
   Subtotal.............................................................  (10,167)   (7,483)  (2,108)
Deferred income tax benefit (expense) related to noncredit OTTI losses                               
  recognized in accumulated other comprehensive income (loss)...........        86       172      138
Deferred income tax benefit (expense)...................................   (3,498)   (2,794)  (1,440)
                                                                         --------- --------- --------
Net unrealized investment gains (losses)................................     6,340     4,869    2,419
Net unrealized investment gains (losses) attributable to noncontrolling                              
  interests.............................................................       (1)       (1)      (1)
                                                                         --------- --------- --------
Net unrealized investment gains (losses) attributable to Metropolitan                                
  Life Insurance Company................................................ $   6,339 $   4,868 $  2,418
                                                                         ========= ========= ========

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

The changes in fixed maturity securities with noncredit OTTI losses included
in AOCI were as follows:                                                        

                                                                [Download Table]

                                                     Years Ended December 31,
                                                   --------------------------
                                                     2012          2011      
                                                     --------      --------  
                                                     (In millions)           
                                                                             
Balance, January 1,............................... $  (522)      $  (419)    
Noncredit OTTI losses recognized (1)..............     (22)          (17)    
Securities sold with previous noncredit OTTI loss.      122            85    
Subsequent changes in estimated fair value........      166         (171)    
                                                     --------      --------  
Balance, December 31,............................. $  (256)      $  (522)    
                                                     ========      ========  

--------                                                                        
(1)Noncredit OTTI losses recognized, net of DAC, were ($26) million and ($16)   
million for the years ended December 31, 2012 and 2011, respectively.     

The changes in net unrealized investment gains (losses) were as follows:    

                                                        [Enlarge/Download Table]

                                                                            Years Ended December 31,   
                                                                         ------------------------------
                                                                            2012       2011      2010  
                                                                         ---------- ---------- --------
                                                                                 (In millions)         
                                                                                                       
Balance, beginning of period............................................ $    4,868 $    2,418 $  (612)
Cumulative effect of change in accounting principles, net of income tax.         --         --       10
Fixed maturity securities on which noncredit OTTI losses have been                                     
  recognized............................................................        266      (103)      155
Unrealized investment gains (losses) during the year....................      4,679      9,248    6,650
Unrealized investment gains (losses) relating to:                                                      
 Insurance liability gain (loss) recognition............................    (1,625)    (3,069)    (426)
 DAC and VOBA related to noncredit OTTI losses recognized in                                           
   accumulated other comprehensive income (loss)........................       (21)          6     (22)
 DAC and VOBA...........................................................      (129)      (269)    (829)
 Policyholder dividend obligation.......................................      (909)    (2,043)    (876)
 Deferred income tax benefit (expense) related to noncredit OTTI losses                                
   recognized in accumulated other comprehensive income (loss)..........       (86)         34     (46)
 Deferred income tax benefit (expense)..................................      (704)    (1,354)  (1,580)
                                                                         ---------- ---------- --------
Net unrealized investment gains (losses)................................      6,339      4,868    2,424
Net unrealized investment gains (losses) attributable to noncontrolling                                
  interests.............................................................         --         --      (6)
                                                                         ---------- ---------- --------
Balance, end of period.................................................. $    6,339 $    4,868 $  2,418
                                                                         ========== ========== ========
Change in net unrealized investment gains (losses)...................... $    1,471 $    2,450 $  3,036
Change in net unrealized investment gains (losses) attributable to                                     
  noncontrolling interests..............................................         --         --      (6)
                                                                         ---------- ---------- --------
Change in net unrealized investment gains (losses) attributable to                                     
 Metropolitan Life Insurance Company.................................... $    1,471 $    2,450 $  3,030
                                                                         ========== ========== ========

Concentrations of Credit Risk                                                   

There were no investments in any counterparty that were greater than 10% of 
the Company's equity, other than the U.S. government and its agencies at both   
December 31, 2012 and 2011.                                                     

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Securities Lending                                                              

As described in Note 1, the Company participates in a securities lending    
program. Elements of the securities lending program are presented below at:     

                                                                [Download Table]

                                            December 31,    
                                         -------------------
                                           2012      2011   
                                         --------- ---------
                                            (In millions)   
                                                            
Securities on loan: (1)                                     
  Amortized cost........................ $  16,224 $  13,595
  Estimated fair value.................. $  18,564 $  15,726
Cash collateral on deposit from                             
  counterparties (2).................... $  19,036 $  15,870
Security collateral on deposit from                         
  counterparties (3).................... $      46 $     188
Reinvestment portfolio -- estimated                         
  fair value............................ $  19,392 $  15,803

--------                                                                        

(1)Included within fixed maturity securities, equity securities and short-term  
investments.                                                              

(2)Included within payables for collateral under securities loaned and other    
transactions.                                                             

(3)Security collateral on deposit from counterparties may not be sold or        
repledged, unless the counterparty is in default, and is not reflected in 
the consolidated financial statements.                                    

Invested Assets on Deposit and Pledged as Collateral                            

Invested assets on deposit and pledged as collateral are presented below at 
estimated fair value for cash and cash equivalents, short-term investments,     
fixed maturity and equity securities, and trading and FVO securities, and at    
carrying value for mortgage loans.                                              

                                                                [Download Table]

                                                               December 31,   
                                                             -----------------
                                                               2012     2011  
                                                             -------- --------
                                                               (In millions)  
                                                                              
Invested assets on deposit (regulatory deposits)............ $  1,555 $    976
Invested assets pledged as collateral (1)...................   19,812   17,280
                                                             -------- --------
 Total invested assets on deposit and pledged as collateral. $ 21,367 $ 18,256
                                                             ======== ========

--------                                                                        

(1)The Company has pledged fixed maturity securities, mortgage loans and cash   
  and cash equivalents in connection with various agreements and transactions,
including funding agreements (see Note 4) and derivative transactions (see
Note 9).                                                                  

Purchased Credit Impaired Investments                                           

Investments acquired with evidence of credit quality deterioration since    
origination and for which it is probable at the acquisition date that the       
Company will be unable to collect all contractually required payments are       
classified as purchased credit impaired ("PCI") investments. For each           
investment, the excess of the cash flows expected to be collected as of the     
acquisition date over its acquisition-date fair value is referred to as the     
accretable yield and is recognized as net investment income on an effective     
yield basis. If subsequently, based on current information and events, it is    
probable that there is a significant increase in cash flows previously expected 
to be collected or if actual cash flows are significantly greater than cash     
flows previously expected to be collected, the accretable yield is adjusted     
prospectively. The excess of the contractually required payments (including     
interest) as of the acquisition date over the cash flows expected to be         
collected as of the acquisition                                                 

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

date is referred to as the nonaccretable difference, and this amount is not     
expected to be realized as net investment income. Decreases in cash flows       
expected to be collected can result in OTTI (see Note 1).                       

The Company's PCI fixed maturity securities were as follows at:             

                                                                [Download Table]

                                           December 31,   
                                         -----------------
                                           2012     2011  
                                         -------- --------
                                           (In millions)  
                                                          
Outstanding principal and interest                        
  balance (1)........................... $  4,335 $  3,708
Carrying value (2)...................... $  3,441 $  2,675

--------                                                                        

(1)Represents the contractually required payments, which is the sum of          
contractual principal, whether or not currently due, and accrued interest.

(2)Estimated fair value plus accrued interest.                                  

The following table presents information about PCI fixed maturity securities
acquired during the periods indicated:                                          

                                                                [Download Table]

                                           Years Ended December 31,
                                         --------------------------
                                           2012          2011      
                                           --------      --------  
                                           (In millions)           
                                                                   
Contractually required payments                                    
  (including interest).................. $  1,911      $  4,260    
Cash flows expected to be collected (1). $  1,436      $  3,603    
Fair value of investments acquired...... $    936      $  2,140    

--------                                                                        

(1)Represents undiscounted principal and interest cash flow expectations at the 
date of acquisition.                                                      

The following table presents activity for the accretable yield on PCI fixed 
maturity securities for:                                                        

                                                                [Download Table]

                                           Years Ended December 31,
                                         --------------------------
                                           2012          2011      
                                           ---------     --------  
                                           (In millions)           
                                                                   
Accretable yield, January 1,............ $   1,978     $    436    
Investments purchased...................       500        1,463    
Accretion recognized in earnings........     (181)         (97)    
Disposals...............................      (84)           --    
Reclassification (to) from                                         
  nonaccretable difference..............       144          176    
                                           ---------     --------  
Accretable yield, December 31,.......... $   2,357     $  1,978    
                                           =========     ========  

Collectively Significant Equity Method Investments                              

The Company holds investments in real estate joint ventures, real estate    
funds and other limited partnership interests consisting of leveraged buy-out   
funds, hedge funds, private equity funds, joint ventures and other funds. The   
portion of these investments accounted for under the equity method had a        
carrying value of $7.5 billion at December 31, 2012. The Company's maximum      
exposure to loss related to these equity method investments is limited to the   
carrying value of these investments plus unfunded commitments of $1.9 billion   
at December 31, 2012. Except for certain real estate joint ventures, the        
Company's investments in real estate funds and other limited partnership        
interests are generally of a passive nature in that the Company does not        
participate in the management of the entities.                                  

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

As described in Note 1, the Company generally records its share of earnings 
in its equity method investments using a three-month lag methodology and within 
net investment income. Aggregate net investment income from these equity method 
investments exceeded 10% of the Company's consolidated pre-tax income (loss)    
from continuing operations for two of the three most recent annual periods:     
2011 and 2010. The Company is providing the following aggregated summarized     
financial data for such equity method investments, for the most recent annual   
periods, in order to provide comparative information. This aggregated           
summarized financial data does not represent the Company's proportionate share  
of the assets, liabilities, or earnings of such entities.                       

The aggregated summarized financial data presented below reflects the latest
available financial information and is as of, and for, the years ended          
December 31, 2012, 2011 and 2010. Aggregate total assets of these entities      
totaled $259.4 billion and $229.7 billion at December 31, 2012 and 2011,        
respectively. Aggregate total liabilities of these entities totaled             
$22.2 billion at both December 31, 2012 and 2011. Aggregate net income (loss)   
of these entities totaled $16.5 billion, $8.4 billion and $16.5 billion for the 
years ended December 31, 2012, 2011 and 2010, respectively. Aggregate net       
income (loss) from the underlying entities in which the Company invests is      
primarily comprised of investment income, including recurring investment income 
and realized and unrealized investment gains (losses).                          

Variable Interest Entities                                                      

 The Company has invested in certain structured transactions that are VIEs. In
certain instances, the Company holds both the power to direct the most          
significant activities of the entity, as well as an economic interest in the    
entity and, as such, is deemed to be the primary beneficiary or consolidator of 
the entity.                                                                     

The determination of the VIE's primary beneficiary requires an evaluation of
the contractual and implied rights and obligations associated with each party's 
relationship with or involvement in the entity, an estimate of the entity's     
expected losses and expected residual returns and the allocation of such        
estimates to each party involved in the entity. The Company generally uses a    
qualitative approach to determine whether it is the primary beneficiary.        
However, for VIEs that are investment companies or apply measurement principles 
consistent with those utilized by investment companies, the primary beneficiary 
is based on a risks and rewards model and is defined as the entity that will    
absorb a majority of a VIE's expected losses, receive a majority of a VIE's     
expected residual returns if no single entity absorbs a majority of expected    
losses, or both. The Company reassesses its involvement with VIEs on a          
quarterly basis. The use of different methodologies, assumptions and inputs in  
the determination of the primary beneficiary could have a material effect on    
the amounts presented within the consolidated financial statements.             

Consolidated VIEs                                                           

The following table presents the total assets and total liabilities relating
to VIEs for which the Company has concluded that it is the primary beneficiary  
and which are consolidated at December 31, 2012 and 2011. Creditors or          
beneficial interest holders of VIEs where the Company is the primary            
beneficiary have no recourse to the general credit of the Company, as the       
Company's obligation to the VIEs is limited to the amount of its committed      
investment.                                                                     

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

                                                                [Download Table]

                                                     December 31,             
                                         -------------------------------------
                                                2012               2011       
                                         ------------------ ------------------
                                         Total     Total    Total     Total   
                                         Assets Liabilities Assets Liabilities
                                         ------ ----------- ------ -----------
                                                     (In millions)            
                                                                              
Other limited partnership interests..... $  189   $    1    $  203   $    1   
CSEs (assets (primarily securities) and                                       
  liabilities (primarily debt)) (1).....     51       50       146      138   
Fixed maturity securities (2)...........    172       83        --       --   
Other invested assets...................     85       --       102        1   
Real estate joint ventures..............     11       14        16       18   
                                         ------   ------    ------   ------   
  Total................................. $  508   $  148    $  467   $  158   
                                         ======   ======    ======   ======   

--------                                                                        

(1)The Company consolidates former QSPEs that are structured as collateralized  
debt obligations. The assets of these entities can only be used to settle 
their respective liabilities, and under no circumstances is the Company   
  liable for any principal or interest shortfalls should any arise. The assets
and liabilities of these CSEs are primarily trading and FVO securities and
long-term debt, respectively, and to a lesser extent include cash and cash
equivalents and other liabilities. The Company's exposure was limited to  
  that of its remaining investment in the former QSPEs of less than $1 million
at estimated fair value at both December 31, 2012 and 2011. The long-term 
debt bears interest primarily at variable rates, payable on a bi-annual   
basis. Interest expense related to these obligations, included in other   
expenses, was $4 million, $9 million and $15 million for the years ended  
December 31, 2012, 2011 and 2010, respectively.                           

(2)The Company consolidates certain fixed maturity securities purchased in an   
investment vehicle which was partially funded with affiliated long-term   
  debt. The long-term debt bears interest primarily at variable rates, payable
on a bi-annual basis. Interest expense related to these obligations,      
included in other expenses, was $1 million for the year ended December 31,
2012. There was no interest expense for both the years ended December 31, 
2011 and 2010.                                                            

Unconsolidated VIEs                                                         

The carrying amount and maximum exposure to loss relating to VIEs in which  
the Company holds a significant variable interest but is not the primary        
beneficiary and which have not been consolidated were as follows at:            

                                                                [Download Table]

                                                        December 31,                
                                         -------------------------------------------
                                                 2012                  2011         
                                         --------------------- ---------------------
                                                     Maximum               Maximum  
                                         Carrying   Exposure   Carrying   Exposure  
                                          Amount   to Loss (1)  Amount   to Loss (1)
                                         --------- ----------- --------- -----------
                                                        (In millions)               
                                                                                    
Fixed maturity securities AFS:                                                      
  Structured securities (RMBS, CMBS and                                             
   ABS) (2)............................. $  42,936  $  42,936  $  41,410  $  41,410 
  U.S. and foreign corporate............     2,566      2,566      2,379      2,379 
Other limited partnership interests.....     2,966      3,880      2,537      3,259 
Other invested assets...................     1,068      1,381        745      1,140 
Real estate joint ventures..............        34         40         32         49 
                                         ---------  ---------  ---------  --------- 
   Total................................ $  49,570  $  50,803  $  47,103  $  48,237 
                                         =========  =========  =========  ========= 

--------                                                                        
(1)The maximum exposure to loss relating to fixed maturity securities is equal  
  to their carrying amounts or the carrying amounts of retained interests. The
maximum exposure to loss relating to other limited partnership            

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

interests and real estate joint ventures is equal to the carrying amounts 
  plus any unfunded commitments of the Company. For certain of its investments
 in other invested assets, the Company's return is in the form of income tax
credits which are guaranteed by creditworthy third parties. For such      
investments, the maximum exposure to loss is equal to the carrying amounts
plus any unfunded commitments, reduced by income tax credits guaranteed by
third parties of $315 million and $264 million at December 31, 2012 and   
  2011, respectively. Such a maximum loss would be expected to occur only upon
bankruptcy of the issuer or investee.                                     

(2)For these variable interests, the Company's involvement is limited to that   
of a passive investor.                                                    

As described in Note 17, the Company makes commitments to fund partnership  
investments in the normal course of business. Excluding these commitments, the  
Company did not provide financial or other support to investees designated as   
VIEs during the years ended December 31, 2012, 2011 and 2010.                   

Net Investment Income                                                           

The components of net investment income were as follows:                    

                                                        [Enlarge/Download Table]

                                                                     Years Ended December 31,   
                                                                   -----------------------------
                                                                     2012      2011      2010   
                                                                   --------- --------- ---------
                                                                           (In millions)        
                                                                                                
Investment income:                                                                              
 Fixed maturity securities........................................ $   8,295 $   8,225 $   8,147
 Equity securities................................................        68        73        89
 Trading and FVO securities -- Actively Traded Securities and FVO                               
   general account securities (1).................................        77        29        72
 Mortgage loans...................................................     2,528     2,401     2,258
 Policy loans.....................................................       451       479       515
 Real estate and real estate joint ventures.......................       593       493       329
 Other limited partnership interests..............................       555       435       684
 Cash, cash equivalents and short-term investments................        19        12        15
 International joint ventures.....................................       (2)       (1)         9
 Other............................................................         7       112       111
                                                                   --------- --------- ---------
     Subtotal.....................................................    12,591    12,258    12,229
   Less: Investment expenses......................................       743       652       663
                                                                   --------- --------- ---------
     Subtotal, net................................................    11,848    11,606    11,566
                                                                   --------- --------- ---------
 FVO CSEs -- interest income:                                                                   
   Securities.....................................................         4         9        15
                                                                   --------- --------- ---------
       Net investment income...................................... $  11,852 $  11,615 $  11,581
                                                                   ========= ========= =========

--------                                                                        

(1)Changes in estimated fair value subsequent to purchase for securities still  
  held as of the end of the respective years included in net investment income
were $44 million, $2 million and $30 million for the years ended          
December 31, 2012, 2011, and 2010, respectively.                          

See "-- Variable Interest Entities" for discussion of CSEs.                 

See "-- Related Party Investment Transactions" for discussion of affiliated 
net investment income and investment expenses.                                  

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Net Investment Gains (Losses)                                                   

Components of Net Investment Gains (Losses)                                     

The components of net investment gains (losses) were as follows:                

                                                                [Download Table]

                                               Years Ended December 31,
                                             ------------------------  
                                               2012      2011    2010  
                                             --------   ------ --------
                                                  (In millions)        
                                                                       
Total gains (losses) on fixed maturity                                 
  securities:                                                          
  Total OTTI losses recognized -- by                                   
   sector and industry:                                                
   U.S. and foreign corporate                                          
     securities -- by industry:                                        
     Utility................................ $   (29)   $   -- $    (1)
     Finance................................     (21)     (37)    (117)
     Consumer...............................     (19)     (40)     (20)
     Communications.........................     (18)     (26)     (10)
     Industrial.............................      (4)      (8)       --
     Transportation.........................      (1)       --       --
                                             --------   ------ --------
       Total U.S. and foreign corporate                                
         securities.........................     (92)    (111)    (148)
     RMBS...................................     (70)     (78)     (87)
     CMBS...................................     (28)      (9)     (59)
     ABS....................................      (2)     (28)     (66)
     Foreign government.....................       --      (1)       --
                                             --------   ------ --------
  OTTI losses on fixed maturity                                        
   securities recognized in earnings........    (192)    (227)    (360)
  Fixed maturity securities -- net                                     
   gains (losses) on sales and disposals....       16      107      129
                                             --------   ------ --------
     Total gains (losses) on fixed                                     
       maturity securities..................    (176)    (120)    (231)
                                             --------   ------ --------
Total gains (losses) on equity                                         
  securities:                                                          
  Total OTTI losses recognized -- by                                   
   sector:                                                             
   Common...................................      (7)      (8)      (4)
   Non-redeemable preferred.................       --     (33)      (3)
                                             --------   ------ --------
  OTTI losses on equity securities                                     
   recognized in earnings...................      (7)     (41)      (7)
  Equity securities - net gains                                        
   (losses) on sales and disposals..........       15       44       77
                                             --------   ------ --------
   Total gains (losses) on equity                                      
     securities.............................        8        3       70
                                             --------   ------ --------
Trading and FVO securities -- FVO                                      
  general account securities -- changes                                
  in estimated fair value subsequent to                                
  consolidation.............................       11      (2)       --
Mortgage loans..............................       84      133       59
Real estate and real estate joint                                      
  ventures..................................     (27)      133     (33)
Other limited partnership interests.........     (35)       11      (5)
Other investment portfolio gains                                       
  (losses)..................................    (192)      (4)       36
                                             --------   ------ --------
   Subtotal -- investment portfolio                                    
     gains (losses).........................    (327)      154    (104)
                                             --------   ------ --------
FVO CSEs -- changes in estimated fair                                  
  value subsequent to consolidation:                                   
  Securities................................       --       --     (78)
  Long-term debt -- related to                                         
   securities...............................      (7)      (8)       48
Non-investment portfolio gains (losses).....        4     (14)     (36)
                                             --------   ------ --------
   Subtotal FVO CSEs and non-investment                                
     portfolio gains (losses)...............      (3)     (22)     (66)
                                             --------   ------ --------
     Total net investment gains (losses).... $  (330)   $  132 $  (170)
                                             ========   ====== ========

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

See "-- Variable Interest Entities" for discussion of CSEs.                 

See "-- Related Party Investment Transactions" for discussion of affiliated 
net investment gains (losses) related to transfers of invested assets to        
affiliates.                                                                     

Gains (losses) from foreign currency transactions included within net       
investment gains (losses) were $2 million, $21 million and $18 million for the  
years ended December 31, 2012, 2011 and 2010, respectively.                     

Sales or Disposals and Impairments of Fixed Maturity and Equity Securities  

Proceeds from sales or disposals of fixed maturity and equity securities and
the components of fixed maturity and equity securities net investment gains     
(losses) are as shown in the table below. Investment gains and losses on sales  
of securities are determined on a specific identification basis.                

                                                        [Enlarge/Download Table]

                                                                     Years Ended December 31,                        
                                              -----------------------------------------------------------------------
                                                2012     2011     2010   2012  2011  2010    2012     2011     2010  
                                              -------- -------- -------- ----- ----- ----- -------- -------- --------
                                              Fixed Maturity Securities  Equity Securities           Total           
                                              -------------------------- ----------------- --------------------------
                                                                           (In millions)                             
                                                                                                                     
Proceeds..................................... $ 29,472 $ 34,015 $ 30,817 $ 126 $ 771 $ 429 $ 29,598 $ 34,786 $ 31,246
                                              ======== ======== ======== ===== ===== ===== ======== ======== ========
Gross investment gains....................... $    327 $    445 $    544 $  23 $  86 $  88 $    350 $    531 $    632
                                              -------- -------- -------- ----- ----- ----- -------- -------- --------
Gross investment losses......................    (311)    (338)    (415)   (8)  (42)  (11)    (319)    (380)    (426)
                                              -------- -------- -------- ----- ----- ----- -------- -------- --------
Total OTTI losses recognized in earnings:                                                                            
 Credit-related..............................    (125)    (183)    (334)    --    --    --    (125)    (183)    (334)
 Other (1)...................................     (67)     (44)     (26)   (7)  (41)   (7)     (74)     (85)     (33)
                                              -------- -------- -------- ----- ----- ----- -------- -------- --------
   Total OTTI losses recognized in earnings..    (192)    (227)    (360)   (7)  (41)   (7)    (199)    (268)    (367)
                                              -------- -------- -------- ----- ----- ----- -------- -------- --------
   Net investment gains (losses)............. $  (176) $  (120) $  (231) $   8 $   3 $  70 $  (168) $  (117) $  (161)
                                              ======== ======== ======== ===== ===== ===== ======== ======== ========

--------                                                                        

(1)Other OTTI losses recognized in earnings include impairments on (i) equity   
securities, (ii) perpetual hybrid securities classified within fixed      
maturity securities where the primary reason for the impairment was the   
 severity and/or the duration of an unrealized loss position and (iii) fixed
maturity securities where there is an intent to sell or it is more likely 
than not that the Company will be required to sell the security before    
recovery of the decline in estimated fair value.                          

Credit Loss Rollforward                                                     

The table below presents a rollforward of the cumulative credit loss        
component of OTTI loss recognized in earnings on fixed maturity securities      
still held for which a portion of the OTTI loss was recognized in OCI:          

                                                        [Enlarge/Download Table]

                                                                                             Years Ended December 31,
                                                                                           --------------------------
                                                                                             2012          2011      
                                                                                             --------      --------  
                                                                                             (In millions)           
                                                                                                                     
Balance, at January 1,.................................................................... $    316      $    330    
Additions:                                                                                                           
 Initial impairments -- credit loss OTTI recognized on securities not previously impaired.       38            33    
 Additional impairments -- credit loss OTTI recognized on securities previously impaired..       45            68    
Reductions:                                                                                                          
 Sales (maturities, pay downs or prepayments) during the period of securities previously                             
  impaired as credit loss OTTI............................................................     (95)          (82)    
 Securities impaired to net present value of expected future cash flows...................     (17)          (24)    
 Increases in cash flows -- accretion of previous credit loss OTTI........................      (2)           (9)    
                                                                                             --------      --------  
Balance, at December 31,.................................................................. $    285      $    316    
                                                                                             ========      ========  

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Related Party Investment Transactions                                       

In the normal course of business, the Company transfers invested assets,    
primarily consisting of fixed maturity securities, to and from affiliates.      
Invested assets transferred to and from affiliates were as follows:             

                                                                [Download Table]

                                         Years Ended December 31,
                                         ------------------------
                                         2012     2011     2010  
                                          -----   ------  ------ 
                                            (In millions)        
                                                                 
Estimated fair value of invested assets                          
  transferred to affiliates............. $   4   $  170   $  444 
Amortized cost of invested assets                                
  transferred to affiliates............. $   4   $  164   $  431 
Net investment gains (losses)                                    
  recognized on transfers............... $  --   $    6   $   13 
Estimated fair value of invested assets                          
  transferred from affiliates........... $  --   $  132   $  582 

The Company purchased from MetLife Bank, an affiliate, $1.5 billion of fixed
maturity securities, at estimated fair value, for cash during the year ended    
December 31, 2012. See "-- Mortgage Loans" for information on additional        
purchases from this affiliate.                                                  

The Company has affiliated loans outstanding, which are included in other   
invested assets, totaling $1.5 billion at both December 31, 2012 and 2011. At   
December 31, 2011, the loans were outstanding with Exeter, an affiliate. During 
2012, MetLife, Inc. assumed this affiliated debt from Exeter. One loan matured  
on September 30, 2012 and was replaced by a new loan on October 1, 2012. The    
loans which bear interest at a fixed rate, payable semiannually are due as      
follows: $500 million at 6.44% due on June 30, 2014, $250 million at 3.57% due  
on October 1, 2019, $250 million at 7.44% due on September 30, 2016,            
$150 million at 5.64% due July 15, 2021 and $375 million at 5.86% due           
December 16, 2021. Net investment income from these loans was $93 million,      
$69 million and $59 million for the years ended December 31, 2012, 2011 and     
2010, respectively.                                                             

The Company has a loan outstanding to Exeter, which is included in other    
invested assets, totaling $75 million at both December 31, 2012 and 2011. This  
loan is due on December 30, 2014 and bears interest on a weighted average of    
6.80%. Net investment income from this loan was $5 million for each of the      
years ended December 31, 2012, 2011 and 2010, respectively.                     

The Company provides investment administrative services to certain          
affiliates. The related investment administrative service charges to these      
affiliates were $158 million, $164 million and $107 million for the years ended 
December 31, 2012, 2011 and 2010, respectively. The Company also had additional 
affiliated net investment income of $4 million, $3 million and $16 million for  
the years ended December 31, 2012, 2011 and 2010, respectively.                 

9. Derivatives                                                                  

Accounting for Derivatives                                                      

See Note 1 for a description of the Company's accounting policies for       
derivatives and Note 10 for information about the fair value hierarchy for      
derivatives.                                                                    

Derivative Strategies                                                           

The Company is exposed to various risks relating to its ongoing business    
operations, including interest rate, foreign currency exchange rate, credit and 
equity market. The Company uses a variety of strategies to manage these risks,  
including the use of derivatives.                                               

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Derivatives are financial instruments whose values are derived from interest
rates, foreign currency exchange rates, credit spreads and/or other financial   
indices. Derivatives may be exchange-traded or contracted in the                
over-the-counter ("OTC") market. The types of derivatives the Company uses      
include swaps, forwards, futures and option contracts. To a lesser extent, the  
Company uses credit default swaps and structured interest rate swaps to         
synthetically replicate investment risks and returns which are not readily      
available in the cash market. The Company also purchases certain securities,    
issues certain insurance policies and investment contracts and engages in       
certain reinsurance agreements that have embedded derivatives.                  

Interest Rate Derivatives                                                   

The Company uses a variety of interest rate derivatives to reduce its       
exposure to changes in interest rates, including interest rate swaps, caps,     
floors, swaptions and forwards.                                                 

Interest rate swaps are used by the Company primarily to reduce market risks
from changes in interest rates and to alter interest rate exposure arising from 
mismatches between assets and liabilities (duration mismatches). In an interest 
rate swap, the Company agrees with another party to exchange, at specified      
intervals, the difference between fixed rate and floating rate interest amounts 
as calculated by reference to an agreed notional amount. The Company utilizes   
interest rate swaps in fair value, cash flow and non-qualifying hedging         
relationships.                                                                  

The Company uses structured interest rate swaps to synthetically create     
investments that are either more expensive to acquire or otherwise unavailable  
in the cash markets. These transactions are a combination of a derivative and a 
cash instrument such as a U.S. Treasury, agency, or other fixed maturity        
security. Structured interest rate swaps are included in interest rate swaps.   
Structured interest rate swaps are not designated as hedging instruments        

The Company purchases interest rate caps and floors primarily to protect its
floating rate liabilities against rises in interest rates above a specified     
level, and against interest rate exposure arising from mismatches between       
assets and liabilities, as well as to protect its minimum rate guarantee        
liabilities against declines in interest rates below a specified level,         
respectively. In certain instances, the Company locks in the economic impact of 
existing purchased caps and floors by entering into offsetting written caps and 
floors. The Company utilizes interest rate caps and floors in non-qualifying    
hedging relationships.                                                          

 Swaptions are used by the Company to hedge interest rate risk associated with
the Company's long-term liabilities and invested assets. A swaption is an       
option to enter into a swap with a forward starting effective date. In certain  
instances, the Company locks in the economic impact of existing purchased       
swaptions by entering into offsetting written swaptions. The Company pays a     
premium for purchased swaptions and receives a premium for written swaptions.   
The Company utilizes swaptions in non-qualifying hedging relationships.         
Swaptions are included in interest rate options.                                

The Company enters into interest rate forwards to buy and sell securities.  
The price is agreed upon at the time of the contract and payment for such a     
contract is made at a specified future date. The Company utilizes interest rate 
forwards in cash flow and non-qualifying hedging relationships.                 

To a lesser extent the Company uses interest rate futures in non-qualifying 
hedging relationships.                                                          

Foreign Currency Exchange Rate Derivatives                                  

 The Company uses foreign currency exchange rate derivatives including foreign
currency swaps and foreign currency forwards to reduce the risk from            
fluctuations in foreign currency exchange rates associated with its             

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

assets and liabilities denominated in foreign currencies. In a foreign currency 
swap transaction, the Company agrees with another party to exchange, at         
specified intervals, the difference between one currency and another at a fixed 
exchange rate, generally set at inception, calculated by reference to an agreed 
upon notional amount. The notional amount of each currency is exchanged at the  
inception and termination of the currency swap by each party. The Company       
utilizes foreign currency swaps in fair value, cash flow and non-qualifying     
hedging relationships.                                                          

In a foreign currency forward transaction, the Company agrees with another  
party to deliver a specified amount of an identified currency at a specified    
future date. The price is agreed upon at the time of the contract and payment   
for such a contract is made at the specified future date. The Company utilizes  
foreign currency forwards in non-qualifying hedging relationships.              

To a lesser extent the Company uses currency options in non-qualifying      
hedging relationships.                                                          

Credit Derivatives                                                          

Credit default swaps are primarily used to synthetically create credit      
investments that are either more expensive to acquire or otherwise unavailable  
in the cash markets. These transactions are a combination of a derivative and   
one or more cash instruments such as U.S. Treasury securities, agency           
securities or other fixed maturity securities. The Company also enters into     
certain credit default swaps held in relation to trading portfolios for the     
purpose of generating profits on short-term differences in price. These credit  
default swaps are not designated as hedging instruments.                        

The Company also uses credit default swaps to economically hedge against    
credit-related changes in the value of its investments. The Company utilizes    
credit default swaps in non-qualifying hedging relationships.                   

Equity Derivatives                                                          

To a lesser extent, the Company uses equity index options in non-qualifying 
hedging relationships.                                                          

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Primary Risks Managed by Derivatives                                            

The following table presents the gross notional amount, estimated fair value
and primary underlying risk exposure of the Company's derivatives, excluding    
embedded derivatives, held at:                                                  

                                                        [Enlarge/Download Table]

                                                                                    December 31,                         
                                                            -------------------------------------------------------------
                                                                         2012                           2011             
                                                            ------------------------------- -----------------------------
                                                                       Estimated Fair Value          Estimated Fair Value
                                                             Notional  -------------------- Notional --------------------
                           Primary Underlying Risk Exposure   Amount    Assets  Liabilities  Amount   Assets  Liabilities
-                          -------------------------------- ---------- -------- ----------- -------- -------- -----------
                                                                                    (In millions)                        
Derivatives                                                                                                              
Designated as Hedging                                                                                                    
Instruments                                                                                                              
                                                                                                                         
Fair value hedges:                                                                                                       
  Interest rate swaps.....       Interest rate............. $    4,824 $  1,893  $     79   $  4,259 $  1,849  $     86  
  Foreign currency swaps..       Foreign currency                                                                        
                                 exchange rate.............      3,064      332        71      2,622      312        79  
                                                            ---------- --------  --------   -------- --------  --------  
   Subtotal.............................................         7,888    2,225       150      6,881    2,161       165  
                                                            ---------- --------  --------   -------- --------  --------  
Cash flow hedges:                                                                                                        
  Interest rate swaps.....       Interest rate.............      2,984      606        --      2,875      852        --  
  Interest rate forwards..       Interest rate.............        265       58        --        345       81        --  
  Foreign currency swaps..       Foreign currency                                                                        
                                 exchange rate.............      7,595      198       246      5,135      314       160  
  Credit forwards.........       Credit....................         --       --        --         20        4        --  
                                                            ---------- --------  --------   -------- --------  --------  
   Subtotal.............................................        10,844      862       246      8,375    1,251       160  
                                                            ---------- --------  --------   -------- --------  --------  
    Total qualifying hedges............................         18,732    3,087       396     15,256    3,412       325  
                                                            ---------- --------  --------   -------- --------  --------  
Derivatives Not Designated or Not Qualifying as Hedging                                                                  
Instruments                                                                                                              
Interest rate swaps.......       Interest rate.............     41,008    1,978       854     28,935    1,908       866  
Interest rate floors......       Interest rate.............     33,870      737       493     13,290      789        14  
Interest rate caps........       Interest rate.............     40,434       63        --     38,532       83        --  
Interest rate futures.....       Interest rate.............      2,476       --        10      2,675        6         2  
Interest rate options.....       Interest rate.............      4,862      336         2      4,624      326        --  
Interest rate forwards....       Interest rate.............         --       --        --        500       --        14  
Synthetic GICs............       Interest rate.............      4,162       --        --      4,454       --        --  
Foreign currency swaps....       Foreign currency                                                                        
                                 exchange rate.............      6,411      137       532      5,392      241       410  
Foreign currency forwards.       Foreign currency                                                                        
                                 exchange rate.............      2,131       16        26      2,014       81        --  
Currency options..........       Foreign currency                                                                        
                                 exchange rate.............        129        1        --         --       --        --  
Credit default swaps......       Credit....................      7,693       62        19      7,765       90        81  
Equity options............       Equity market.............        630        1        --        135       --        --  
                                                            ---------- --------  --------   -------- --------  --------  
   Total non-designated or non-qualifying                                                                                
    derivatives.........................................       143,806    3,331     1,936    108,316    3,524     1,387  
                                                            ---------- --------  --------   -------- --------  --------  
   Total................................................    $  162,538 $  6,418  $  2,332   $123,572 $  6,936  $  1,712  
                                                            ========== ========  ========   ======== ========  ========  

The estimated fair value of all derivatives in an asset position is reported
within other invested assets in the consolidated balance sheets and the         
estimated fair value of all derivatives in a liability position is reported     
within other liabilities in the consolidated balance sheets.                    

Net Derivative Gains (Losses)                                               

The components of net derivative gains (losses) were as follows:            

                                                                [Download Table]

                                         Years Ended December 31,
                                         ------------------------
                                          2012    2011     2010  
                                         ------ -------- --------
                                              (In millions)      
                                                                 
Derivatives and hedging gains (losses)                           
 (1).................................... $   77 $  2,040 $    353
Embedded derivatives....................    598    (462)    (619)
                                         ------ -------- --------
 Total net derivative gains (losses).... $  675 $  1,578 $  (266)
                                         ====== ======== ========

--------                                                                        

(1)Includes foreign currency transaction gains (losses) on hedged items in cash 
flow and non-qualifying hedging relationships, which are not presented    
elsewhere in this note.                                                   

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

The following table presents earned income on derivatives for the:          

                                                                [Download Table]

                                         Years Ended December 31,
                                         ------------------------
                                          2012     2011    2010  
                                          ------  ------  ------ 
                                            (In millions)        
                                                                 
Qualifying hedges:                                               
  Net investment income................. $  108   $   96  $   82 
  Interest credited to policyholder                              
   account balances.....................    146      173     196 
Non-qualifying hedges:                                           
  Net investment income.................    (6)      (8)     (4) 
  Net derivative gains (losses).........    314      179      53 
                                         ------   ------  ------ 
   Total................................ $  562   $  440  $  327 
                                         ======   ======  ====== 

Non-Qualifying Derivatives and Derivatives for Purposes Other Than Hedging      

The following table presents the amount and location of gains (losses)      
recognized in income for derivatives that were not designated or qualifying as  
hedging instruments:                                                            

                                                                [Download Table]

                                              Net          Net    
                                           Derivative   Investment
                                         Gains (Losses) Income (1)
                                         -------------- ----------
                                               (In millions)      
                                                                  
For the Year Ended December 31, 2012:                             
Interest rate derivatives...............   $    (83)     $    --  
Foreign currency exchange rate                                    
  derivatives...........................       (252)          --  
Credit derivatives......................          33        (15)  
Equity derivatives......................          --        (12)  
                                         -------------- ----------
  Total.................................   $   (302)     $  (27)  
                                         ============== ==========
For the Year Ended December 31, 2011:                             
Interest rate derivatives...............   $   1,679     $    --  
Foreign currency exchange rate                                    
  derivatives...........................         103          --  
Credit derivatives......................          13           5  
Equity derivatives......................          --        (14)  
                                         -------------- ----------
  Total.................................   $   1,795     $   (9)  
                                         -------------- ==========
For the Year Ended December 31, 2010:                             
Interest rate derivatives...............   $     149     $    --  
Foreign currency exchange rate                                    
  derivatives...........................         106          --  
Credit derivatives......................          28         (2)  
Equity derivatives......................          13        (17)  
                                         -------------- ----------
  Total.................................   $     296     $  (19)  
                                         ============== ==========

--------                                                                        
(1)Changes in estimated fair value related to economic hedges of equity method  
investments in joint ventures, and changes in estimated fair value related
to derivatives held in relation to trading portfolios.                    

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Fair Value Hedges                                                               

The Company designates and accounts for the following as fair value hedges  
when they have met the requirements of fair value hedging: (i) interest rate    
swaps to convert fixed rate assets and liabilities to floating rate assets and  
liabilities; and (ii) foreign currency swaps to hedge the foreign currency fair 
value exposure of foreign currency denominated assets and liabilities.          

 The Company recognizes gains and losses on derivatives and the related hedged
items in fair value hedges within net derivative gains (losses). The following  
table presents the amount of such net derivative gains (losses):                

                                                        [Enlarge/Download Table]

                                                               Net Derivative  Net Derivative Ineffectiveness
                                                               Gains (Losses)  Gains (Losses)  Recognized in 
Derivatives in Fair Value      Hedged Items in Fair Value        Recognized    Recognized for Net Derivative 
Hedging Relationships            Hedging Relationships         for Derivatives  Hedged Items  Gains (Losses) 
-------------------------  ----------------------------------- --------------- -------------- ---------------
                                                                               (In millions)                 
                                                                                                             
For the Year Ended December 31, 2012:                                                                        
Interest rate swaps:       Fixed maturity securities..........   $         2   $         (3)    $      (1)   
                           Policyholder liabilities (1).......          (72)              89            17   
Foreign currency swaps:    Foreign-denominated fixed maturity                                                
                           securities.........................           (1)               1            --   
                           Foreign-denominated PABs (2).......            32            (41)           (9)   
                                                                 -----------   -------------    ----------   
  Total.....................................................     $       (39)  $          46    $        7   
                                                                 ===========   =============    ==========   
For the Year Ended December 31, 2011:                                                                        
Interest rate swaps:       Fixed maturity securities..........   $      (18)   $          18    $       --   
                           Policyholder liabilities (1).......         1,019           (994)            25   
Foreign currency swaps:    Foreign-denominated fixed maturity                                                
                           securities.........................             1               3             4   
                           Foreign-denominated PABs (2).......            28            (55)          (27)   
                                                                 -----------   -------------    ----------   
  Total.....................................................     $     1,030   $     (1,028)    $        2   
                                                                 ===========   =============    ==========   
For the Year Ended December 31, 2010:                                                                        
Interest rate swaps:       Fixed maturity securities..........   $      (13)   $          15    $        2   
                           Policyholder liabilities (1).......           153           (150)             3   
Foreign currency swaps:    Foreign-denominated fixed maturity                                                
                           securities.........................            13            (13)            --   
                           Foreign-denominated PABs (2).......            47            (34)            13   
                                                                 -----------   -------------    ----------   
  Total.....................................................     $       200   $       (182)    $       18   
                                                                 ===========   =============    ==========   

--------                                                                        

(1)Fixed rate liabilities reported in PABs or future policy benefits.           

(2)Fixed rate or floating rate liabilities.                                     

All components of each derivative's gain or loss were included in the       
assessment of hedge effectiveness.                                              

Cash Flow Hedges                                                                

The Company designates and accounts for the following as cash flow hedges   
when they have met the requirements of cash flow hedging: (i) interest rate     
swaps to convert floating rate assets and liabilities to fixed rate assets and  
liabilities; (ii) foreign currency swaps to hedge the foreign currency cash     
flow exposure of foreign currency denominated assets and liabilities;           
(iii) interest rate forwards and credit forwards to lock in the price to be     
paid for forward purchases of investments; and (iv) interest rate swaps and     
interest rate forwards to hedge the forecasted purchases of fixed-rate          
investments.                                                                    

In certain instances, the Company discontinued cash flow hedge accounting   
because the forecasted transactions were no longer probable of occurring.       
Because certain of the forecasted transactions also were not                    

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

probable of occurring within two months of the anticipated date, the Company    
reclassified $1 million, $3 million and $9 million from AOCI into net           
derivative gains (losses) for the years ended December 31, 2012, 2011 and 2010, 
respectively, related to such discontinued cash flow hedges.                    

At December 31, 2012 and 2011, the maximum length of time over which the    
Company was hedging its exposure to variability in future cash flows for        
forecasted transactions did not exceed eight years and nine years, respectively.

At December 31, 2012 and 2011, the balance in AOCI associated with cash flow
hedges was $1.1 billion and $1.3 billion, respectively.                         

The following table presents the effects of derivatives in cash flow hedging
relationships on the consolidated statements of operations and the consolidated 
statements of equity:                                                           

                                                        [Enlarge/Download Table]

                           Amount of Gains (Losses)       Amount and Location of Gains           Amount and Location    
                           Deferred in Accumulated         (Losses) Reclassified from             of Gains (Losses)     
Derivatives in Cash Flow  Other Comprehensive Income     Accumulated Other Comprehensive     Recognized in Income (Loss)
Hedging Relationships       (Loss) on Derivatives       Income (Loss) into Income (Loss)           on Derivatives       
------------------------  -------------------------- --------------------------------------- ---------------------------
                             (Effective Portion)               (Effective Portion)              (Ineffective Portion)   
                          -------------------------- --------------------------------------- ---------------------------
                                                     Net Derivative Net Investment  Other          Net Derivative       
                                                     Gains (Losses)     Income     Expenses        Gains (Losses)       
                                                     -------------- -------------- --------- ---------------------------
                                                                  (In millions)                                         
                                                                                                                        
For the Year Ended December 31, 2012:                                                                                   
Interest rate swaps......   $                 (55)     $        3     $        4   $      --    $                   1   
Interest rate forwards...                      (1)             --              2          --                       --   
Foreign currency swaps...                    (187)            (7)            (5)          --                      (5)   
Credit forwards..........                       --             --              1          --                       --   
                          -------------------------- -------------- -------------- --------- ---------------------------
  Total..................   $                (243)     $      (4)     $        2   $      --    $                 (4)   
                          ========================== ============== ============== ========= ===========================
For the Year Ended December 31, 2011:                                                                                   
Interest rate swaps......   $                  919     $       --     $        1   $      --    $                   1   
Interest rate forwards...                      128             22              2          --                        2   
Foreign currency swaps...                      166              7            (5)          --                        1   
Credit forwards..........                       18              1             --          --                       --   
                          -------------------------- -------------- -------------- --------- ---------------------------
  Total..................   $                1,231     $       30     $      (2)   $      --    $                   4   
                          ========================== ============== ============== ========= ===========================
For the Year Ended December 31, 2010:                                                                                   
Interest rate swaps......   $                   90     $       --     $       --   $       1    $                   3   
Interest rate forwards...                     (35)             10              3          --                      (1)   
Foreign currency swaps...                       74           (56)            (6)          --                       --   
Credit forwards..........                        5             --             --          --                       --   
                          -------------------------- -------------- -------------- --------- ---------------------------
  Total..................   $                  134     $     (46)     $      (3)   $       1    $                   2   
                          ========================== ============== ============== ========= ===========================

All components of each derivative's gain or loss were included in the       
assessment of hedge effectiveness.                                              

At December 31, 2012, ($4) million of deferred net gains (losses) on        
derivatives in AOCI was expected to be reclassified to earnings within the next 
12 months.                                                                      

Credit Derivatives                                                              

In connection with synthetically created credit investment transactions and 
credit default swaps held in relation to the trading portfolio, the Company     
writes credit default swaps for which it receives a premium to insure credit    
risk. Such credit derivatives are included within the non-qualifying            
derivatives and derivatives for purposes other than hedging table. If a credit  
event occurs, as defined by the contract, the contract may be cash settled or   
it may                                                                          

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

be settled gross by the Company paying the counterparty the specified swap      
notional amount in exchange for the delivery of par quantities of the           
referenced credit obligation. The Company's maximum amount at risk, assuming    
the value of all referenced credit obligations is zero, was $6.2 billion and    
$5.4 billion at December 31, 2012 and 2011, respectively. The Company can       
terminate these contracts at any time through cash settlement with the          
counterparty at an amount equal to the then current fair value of the credit    
default swaps. At December 31, 2012 and 2011, the Company would have received   
$50 million and paid $29 million, respectively, to terminate all of these       
contracts.                                                                      

The following table presents the estimated fair value, maximum amount of    
future payments and weighted average years to maturity of written credit        
default swaps at:                                                               

                                                        [Enlarge/Download Table]

                                                                         December 31,                                 
                                         -----------------------------------------------------------------------------
                                                          2012                                   2011                 
                                         -------------------------------------- --------------------------------------
                                                       Maximum                                Maximum                 
                                         Estimated      Amount                  Estimated      Amount                 
                                         Fair Value   of Future      Weighted   Fair Value   of Future      Weighted  
                                         of Credit  Payments under   Average    of Credit  Payments under   Average   
Rating Agency Designation of Referenced   Default   Credit Default   Years to    Default   Credit Default   Years to  
Credit Obligations (1)                     Swaps      Swaps (2)    Maturity (3)   Swaps      Swaps (2)    Maturity (3)
---------------------------------------  ---------- -------------- ------------ ---------- -------------- ------------
                                               (In millions)                          (In millions)                   
                                                                                                                      
   Aaa/Aa/A                                                                                                           
   Single name credit default swaps                                                                                   
     (corporate)........................  $      7            573           2.5  $      3   $        488           3.1
   Credit default swaps referencing                                                                                   
     indices............................        31          2,064           2.1       (1)          2,150           3.0
                                         ---------- --------------              ---------- --------------             
    Subtotal............................        38          2,637           2.2         2          2,638           3.0
                                         ---------- --------------              ---------- --------------             
   Baa                                                                                                                
   Single name credit default swaps                                                                                   
     (corporate)........................         4            835           3.2      (10)            750           3.6
   Credit default swaps referencing                                                                                   
     indices............................         6          2,469           4.9      (19)          1,959           4.9
                                         ---------- --------------              ---------- --------------             
    Subtotal............................        10          3,304           4.5      (29)          2,709           4.5
                                         ---------- --------------              ---------- --------------             
   Ba                                                                                                                 
   Single name credit default swaps                                                                                   
     (corporate)........................        --             25           2.7        --             25           3.5
   Credit default swaps referencing                                                                                   
     indices............................        --             --            --        --             --            --
                                         ---------- --------------              ---------- --------------             
    Subtotal............................        --             25           2.7        --             25           3.5
                                         ---------- --------------              ---------- --------------             
   B                                                                                                                  
   Single name credit default swaps                                                                                   
     (corporate)........................        --             --            --        --             --            --
   Credit default swaps referencing                                                                                   
     indices............................         2            264           4.9       (2)             25           4.8
                                         ---------- --------------              ---------- --------------             
   Subtotal.............................         2            264           4.9       (2)             25           4.8
                                         ---------- --------------              ---------- --------------             
   Total................................  $     50   $      6,230           3.5  $   (29)   $      5,397           3.8
                                         ========== ==============              ========== ==============             

--------                                                                        
(1)The rating agency designations are based on availability and the midpoint of 
 the applicable ratings among Moody's Investors Service ("Moody's"), S&P and
Fitch Ratings. If no rating is available from a rating agency, then an    
internally developed rating is used.                                      

(2)Assumes the value of the referenced credit obligations is zero.              

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(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

(3)The weighted average years to maturity of the credit default swaps is        
calculated based on weighted average notional amounts.                    

The Company has also entered into credit default swaps to purchase credit   
protection on certain of the referenced credit obligations in the table above.  
As a result, the maximum amounts of potential future recoveries available to    
offset the $6.2 billion and $5.4 billion from the table above were $120 million 
and $80 million at December 31, 2012 and 2011, respectively.                    

Written credit default swaps held in relation to the trading portfolio      
amounted to $10 million in notional and $0 in fair value at December 31, 2012.  
Written credit default swaps held in relation to the trading portfolio amounted 
to $10 million in notional and ($1) million in fair value at December 31, 2011. 

Credit Risk on Freestanding Derivatives                                         

The Company may be exposed to credit-related losses in the event of         
nonperformance by counterparties to derivatives. Generally, the current credit  
exposure of the Company's derivatives is limited to the net positive estimated  
fair value of derivatives at the reporting date after taking into consideration 
the existence of netting agreements and any collateral received pursuant to     
credit support annexes.                                                         

The Company manages its credit risk related to OTC derivatives by entering  
into transactions with creditworthy counterparties, maintaining collateral      
arrangements and through the use of master agreements that provide for netting  
of payments by product and currency for periodic settlements and a single net   
payment to be made by one party upon termination. Because exchange-traded       
futures are effected through regulated exchanges, and positions are marked to   
market on a daily basis, the Company has minimal exposure to credit-related     
losses in the event of nonperformance by counterparties to such derivatives.    
See Note 10 for a description of the impact of credit risk on the valuation of  
derivatives.                                                                    

The Company enters into various collateral arrangements which require both  
the pledging and accepting of collateral in connection with its OTC             
derivatives. At December 31, 2012 and 2011, the Company was obligated to return 
cash collateral under its control of $3.4 billion and $4.4 billion,             
respectively. This cash collateral is included in cash and cash equivalents or  
in short-term investments and the obligation to return it is included in        
payables for collateral under securities loaned and other transactions in the   
consolidated balance sheets. At December 31, 2012 and 2011, the Company had     
received collateral consisting of various securities with a fair market value   
of $1.2 billion and $768 million, respectively, which were held in separate     
custodial accounts. Subject to certain constraints, the Company is permitted by 
contract to sell or repledge this collateral, but at December 31, 2012, none of 
the collateral had been sold or repledged.                                      

The Company's collateral arrangements for its OTC derivatives generally     
require the counterparty in a net liability position, after considering the     
effect of netting agreements, to pledge collateral when the fair value of that  
counterparty's derivatives reaches a pre-determined threshold. Certain of these 
arrangements also include credit-contingent provisions that provide for a       
reduction of these thresholds (on a sliding scale that converges toward zero)   
in the event of downgrades in the credit ratings of the Company and/or the      
counterparty. In addition, certain of the Company's netting agreements for      
derivatives contain provisions that require both the Company and the            
counterparty to maintain a specific investment grade credit rating from each of 
Moody's and S&P. If a party's credit ratings were to fall below that specific   
investment grade credit rating, that party would be in violation of these       
provisions, and the other party to the derivatives could terminate the          
transactions and demand immediate settlement and payment based on such party's  
reasonable valuation of the derivatives.                                        

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

The following table presents the estimated fair value of the Company's OTC  
derivatives that are in a net liability position after considering the effect   
of netting agreements, together with the estimated fair value and balance sheet 
location of the collateral pledged. The table also presents the incremental     
collateral that the Company would be required to provide if there was a one     
notch downgrade in the Company's credit rating at the reporting date or if the  
Company's credit rating sustained a downgrade to a level that triggered full    
overnight collateralization or termination of the derivative position at the    
reporting date. Derivatives that are not subject to collateral agreements are   
not included in the scope of this table.                                        

                                                        [Enlarge/Download Table]

                                                            Estimated Fair Value of    Fair Value of Incremental Collateral
                                                              Collateral Provided:                Provided Upon:           
                                                          ---------------------------- ------------------------------------
                                                                                                      Downgrade in the     
                                                                                       One Notch  Company's Credit Rating  
                                                                                       Downgrade  to a Level that Triggers 
                                         Estimated                                      in the         Full Overnight      
                                       Fair Value of                                   Company's    Collateralization or   
                                     Derivatives in Net   Fixed Maturity                Credit          Termination        
                                   Liability Position (1) Securities (2)   Cash (3)     Rating   of the Derivative Position
                                   ---------------------- -------------- ------------- --------- --------------------------
                                                                         (In millions)                                     
                                                                                                                           
December 31, 2012:                                                                                                         
Derivatives subject to credit-                                                                                             
  contingent provisions...........      $        263         $    261       $    --     $    --       $             1      
Derivatives not subject to credit-                                                                                         
  contingent provisions...........                --               --             1          --                    --      
                                   ---------------------- -------------- ------------- --------- --------------------------
 Total............................      $        263         $    261       $     1     $    --       $             1      
                                   ====================== ============== ============= ========= ==========================
December 31, 2011:                                                                                                         
Derivatives subject to credit-                                                                                             
  contingent provisions...........      $        151         $     94       $    --     $    25       $            64      
Derivatives not subject to credit-                                                                                         
  contingent provisions...........                --               --            --          --                    --      
                                   ---------------------- -------------- ------------- --------- --------------------------
 Total............................      $        151         $     94       $    --     $    25       $            64      
                                   ====================== ============== ============= ========= ==========================

--------                                                                        

(1)After taking into consideration the existence of netting agreements.         

(2)Included in fixed maturity securities in the consolidated balance sheets.    
  Subject to certain constraints, the counterparties are permitted by contract
to sell or repledge this collateral.                                      

(3)Included in premiums, reinsurance and other receivables in the consolidated  
balance sheets.                                                           

The Company also has exchange-traded futures, which require the pledging of 
collateral. At both December 31, 2012 and 2011, the Company did not pledge any  
securities collateral for exchange-traded futures. At December 31, 2012 and     
2011, the Company provided cash collateral for exchange-traded futures of $35   
million and $37 million, respectively, which is included in premiums,           
reinsurance and other receivables.                                              

Embedded Derivatives                                                            

The Company issues certain products or purchases certain investments that   
contain embedded derivatives that are required to be separated from their host  
contracts and accounted for as freestanding derivatives. These host contracts   
principally include: variable annuities with guaranteed minimum benefits,       
including GMWBs, GMABs                                                          

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

and certain GMIBs; affiliated ceded reinsurance of guaranteed minimum benefits  
related to GMWBs, GMABs and certain GMIBs; funds withheld on ceded reinsurance  
and affiliated funds withheld on ceded reinsurance; funding agreements with     
equity or bond indexed crediting rates; and certain debt and equity securities. 

The following table presents the estimated fair value and balance sheet     
location of the Company's embedded derivatives that have been separated from    
their host contracts at:                                                        

                                                        [Enlarge/Download Table]

                                                                                             December 31,   
                                                                                           -----------------
                                                              Balance Sheet Location         2012     2011  
                                                          -------------------------------- -------- --------
                                                                                             (In millions)  
                                                                                                            
Net embedded derivatives within asset host contracts:                                                       
  Ceded guaranteed minimum benefits...................... Premiums, reinsurance and other                   
                                                          receivables..................... $  1,362 $  1,163
  Options embedded in debt or equity                                                                        
   securities............................................ Investments.....................     (55)     (15)
                                                                                           -------- --------
   Net embedded derivatives within                                                                          
     asset host contracts................................                                  $  1,307 $  1,148
                                                                                           ======== ========
Net embedded derivatives within liability host contracts:                                                   
  Direct guaranteed minimum benefits..................... PABs............................ $   (92) $    307
  Funds withheld on ceded reinsurance.................... Other liabilities...............    1,563    1,646
  Other.................................................. PABs............................       16       17
                                                                                           -------- --------
   Net embedded derivatives within                                                                          
     liability host contracts............................                                  $  1,487 $  1,970
                                                                                           ======== ========

The following table presents changes in estimated fair value related to     
embedded derivatives:                                                           

                                                                [Download Table]

                                        Years Ended December 31,
                                        ------------------------
                                         2012    2011     2010  
                                        ------ -------- --------
                                             (In millions)      
                                                                
Net derivative gains (losses) (1), (2). $  598 $  (462) $  (619)

--------                                                                        

(1)The valuation of direct guaranteed minimum benefits includes a               
  nonperformance risk adjustment. The amounts included in net derivative gains
 (losses) in connection with this adjustment were ($71) million, $88 million
and ($43) million for the years ended December 31, 2012, 2011 and 2010,   
respectively. In addition, the valuation of ceded guaranteed minimum      
 benefits includes a nonperformance risk adjustment. The amounts included in
net derivative gains (losses) in connection with this adjustment were $122
million, ($219) million and $82 million for the years ended December 31,  
2012, 2011 and 2010, respectively.                                        

(2)See Note 6 for discussion of affiliated net derivative gains (losses)        
included in the table above.                                              

10. Fair Value                                                                  

When developing estimated fair values, the Company considers three broad    
valuation techniques: (i) the market approach, (ii) the income approach, and    
(iii) the cost approach. The Company determines the most appropriate valuation  
technique to use, given what is being measured and the availability of          
sufficient inputs,                                                              

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

giving priority to observable inputs. The Company categorizes its assets and    
liabilities measured at estimated fair value into a three-level hierarchy,      
based on the significant input with the lowest level in its valuation. The      
input levels are as follows:                                                    

       Level 1  Unadjusted quoted prices in active
             markets for identical assets or
              liabilities. The Company defines
             active markets based on average
                   trading volume for equity securities.
               The size of the bid/ask spread is
            used as an indicator of market
         activity for fixed maturity
securities.       

          Level 2  Quoted prices in markets that are not
                  active or inputs that are observable
                  either directly or indirectly. These
                  inputs can include quoted prices for
                 similar assets or liabilities other
                   than quoted prices in Level 1, quoted
            prices in markets that are not
                 active, or other significant inputs
                   that are observable or can be derived
                 principally from or corroborated by
        observable market data for
                substantially the full term of the
    assets or liabilities.

 Level 3  Unobservable inputs that are
              supported by little or no market
                 activity and are significant to the
                   determination of estimated fair value
           of the assets or liabilities.
             Unobservable inputs reflect the
                reporting entity's own assumptions
               about the assumptions that market
                   participants would use in pricing the
 asset or liability.

Financial markets are susceptible to severe events evidenced by rapid       
depreciation in asset values accompanied by a reduction in asset liquidity. The 
Company's ability to sell securities, or the price ultimately realized for      
these securities, depends upon the demand and liquidity in the market and       
increases the use of judgment in determining the estimated fair value of        
certain securities.                                                             

Considerable judgment is often required in interpreting market data to      
develop estimates of fair value, and the use of different assumptions or        
valuation methodologies may have a material effect on the estimated fair value  
amounts.                                                                        

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Recurring Fair Value Measurements                                               

The assets and liabilities measured at estimated fair value on a recurring  
basis, including those items for which the Company has elected the FVO, were    
determined as described below. These estimated fair values and their            
corresponding placement in the fair value hierarchy are summarized as follows:  

                                                        [Enlarge/Download Table]

                                                                           December 31, 2012              
                                                              --------------------------------------------
                                                                  Fair Value Hierarchy                    
                                                              ----------------------------                
                                                                                           Total Estimated
                                                               Level 1   Level 2  Level 3    Fair Value   
                                                              --------- --------- -------- ---------------
                                                                          (In millions)                   
                                                                                                          
Assets:                                                                                                   
Fixed maturity securities:                                                                                
  U.S. corporate............................................. $      -- $  61,540 $  5,460   $      67,000
  U.S. Treasury and agency...................................    17,653    14,927       71          32,651
  Foreign corporate..........................................        --    27,180    3,054          30,234
  RMBS.......................................................        --    23,323    1,702          25,025
  CMBS.......................................................        --     9,384      402           9,786
  ABS........................................................        --     6,202    1,923           8,125
  State and political subdivision............................        --     6,720       --           6,720
  Foreign government.........................................        --     3,853      282           4,135
                                                              --------- --------- -------- ---------------
    Total fixed maturity securities..........................    17,653   153,129   12,894         183,676
                                                              --------- --------- -------- ---------------
Equity securities:                                                                                        
  Common stock...............................................       189       792       60           1,041
  Non-redeemable preferred stock.............................        --       177      281             458
                                                              --------- --------- -------- ---------------
    Total equity securities..................................       189       969      341           1,499
                                                              --------- --------- -------- ---------------
Trading and FVO securities:                                                                               
  Actively Traded Securities.................................         7       646        6             659
  FVO general account securities.............................        --        26       26              52
  FVO securities held by CSEs................................        --        41       --              41
                                                              --------- --------- -------- ---------------
    Total trading and FVO securities.........................         7       713       32             752
                                                              --------- --------- -------- ---------------
Short-term investments (1)...................................     2,565     3,936      252           6,753
Derivative assets: (2)                                                                                    
  Interest rate..............................................        --     5,613       58           5,671
  Foreign currency exchange rate.............................        --       646       38             684
  Credit.....................................................        --        29       33              62
  Equity market..............................................        --         1       --               1
                                                              --------- --------- -------- ---------------
    Total derivative assets..................................        --     6,289      129           6,418
                                                              --------- --------- -------- ---------------
Net embedded derivatives within asset host contracts (3).....        --        --    1,362           1,362
Separate account assets (4)..................................    24,237    95,794      940         120,971
                                                              --------- --------- -------- ---------------
     Total assets............................................ $  44,651 $ 260,830 $ 15,950   $     321,431
                                                              ========= ========= ======== ===============
Liabilities:                                                                                              
Derivative liabilities: (2)                                                                               
  Interest rate.............................................. $      10 $   1,428 $     --   $       1,438
  Foreign currency exchange rate.............................        --       874        1             875
  Credit.....................................................        --        19       --              19
  Equity market..............................................        --        --       --              --
                                                              --------- --------- -------- ---------------
    Total derivative liabilities.............................        10     2,321        1           2,332
                                                              --------- --------- -------- ---------------
Net embedded derivatives within liability host contracts (3).        --        16    1,471           1,487
Long-term debt of CSEs.......................................        --        --       44              44
Trading liabilities (5)......................................       163        --       --             163
                                                              --------- --------- -------- ---------------
     Total liabilities....................................... $     173 $   2,337 $  1,516   $       4,026
                                                              ========= ========= ======== ===============

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(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                                                             December 31, 2011                
                                                              ------------------------------------------------
                                                                    Fair Value Hierarchy                      
                                                              --------------------------------                
                                                                                               Total Estimated
                                                               Level 1    Level 2    Level 3     Fair Value   
                                                              ---------- ---------- ---------- ---------------
                                                                             (In millions)                    
                                                                                                              
Assets:                                                                                                       
Fixed maturity securities:                                                                                    
  U.S. corporate............................................. $       -- $   56,777 $    4,919   $   61,696   
  U.S. Treasury and agency...................................     11,450     14,369         25       25,844   
  Foreign corporate..........................................         --     26,888      2,258       29,146   
  RMBS.......................................................         --     25,028        691       25,719   
  CMBS.......................................................         --      8,886        219        9,105   
  ABS........................................................         --      5,440      1,146        6,586   
  State and political subdivision............................         --      6,182         --        6,182   
  Foreign government.........................................         --      3,609        291        3,900   
                                                              ---------- ---------- ---------- ---------------
    Total fixed maturity securities..........................     11,450    147,179      9,549      168,178   
                                                              ---------- ---------- ---------- ---------------
Equity securities:                                                                                            
  Common stock...............................................         79        673        104          856   
  Non-redeemable preferred stock.............................         --        129        293          422   
                                                              ---------- ---------- ---------- ---------------
    Total equity securities..................................         79        802        397        1,278   
                                                              ---------- ---------- ---------- ---------------
Trading and FVO securities:                                                                                   
  Actively Traded Securities.................................         --        473         --          473   
  FVO general account securities.............................         --         93         14          107   
  FVO securities held by CSEs................................         --        117         --          117   
                                                              ---------- ---------- ---------- ---------------
    Total trading and FVO securities.........................         --        683         14          697   
                                                              ---------- ---------- ---------- ---------------
Short-term investments (1)...................................      1,641      4,364        134        6,139   
Derivative assets: (2)                                                                                        
  Interest rate..............................................          6      5,807         81        5,894   
  Foreign currency exchange rate.............................         --        892         56          948   
  Credit.....................................................         --         71         23           94   
  Equity market..............................................         --         --         --           --   
                                                              ---------- ---------- ---------- ---------------
    Total derivative assets..................................          6      6,770        160        6,936   
                                                              ---------- ---------- ---------- ---------------
Net embedded derivatives within asset host contracts (3).....         --         --      1,163        1,163   
Separate account assets (4)..................................     22,445     83,151      1,082      106,678   
                                                              ---------- ---------- ---------- ---------------
     Total assets............................................ $   35,621 $  242,949 $   12,499   $  291,069   
                                                              ========== ========== ========== ===============
Liabilities:                                                                                                  
Derivative liabilities: (2)                                                                                   
  Interest rate.............................................. $        2 $      966 $       14   $      982   
  Foreign currency exchange rate.............................         --        649         --          649   
  Credit.....................................................         --         59         22           81   
  Equity market..............................................         --         --         --           --   
                                                              ---------- ---------- ---------- ---------------
    Total derivative liabilities.............................          2      1,674         36        1,712   
                                                              ---------- ---------- ---------- ---------------
Net embedded derivatives within liability host contracts (3).         --         17      1,953        1,970   
Long-term debt of CSEs.......................................         --         --        116          116   
Trading liabilities (5)......................................        124          3         --          127   
                                                              ---------- ---------- ---------- ---------------
     Total liabilities....................................... $      126 $    1,694 $    2,105   $    3,925   
                                                              ========== ========== ========== ===============

--------                                                                        

(1)Short-term investments as presented in the tables above differ from the      
amounts presented in the consolidated balance sheets because certain      
short-term investments are not measured at estimated fair value on a      
recurring basis.                                                          

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

(2)Derivative assets are presented within other invested assets in the          
 consolidated balance sheets and derivative liabilities are presented within
other liabilities in the consolidated balance sheets. The amounts are     
presented gross in the tables above to reflect the presentation in the    
consolidated balance sheets, but are presented net for purposes of the    
rollforward in the Fair Value Measurements Using Significant Unobservable 
Inputs (Level 3) tables.                                                  

(3)Net embedded derivatives within asset host contracts are presented within    
premiums, reinsurance and other receivables in the consolidated balance   
sheets. Net embedded derivatives within liability host contracts are      
presented within PABs and other liabilities in the consolidated balance   
sheets. At December 31, 2012, fixed maturity securities and equity        
securities included embedded derivatives of $0 and ($55) million,         
respectively. At December 31, 2011, fixed maturity securities and equity  
securities included embedded derivatives of less than $1 million and      
($15) million, respectively.                                              

(4)Investment performance related to separate account assets is fully offset by 
corresponding amounts credited to contractholders whose liability is      
 reflected within separate account liabilities. Separate account liabilities
are set equal to the estimated fair value of separate account assets.     

(5)Trading liabilities are presented within other liabilities in the            
consolidated balance sheets.                                              

The following describes the valuation methodologies used to measure assets  
and liabilities at fair value. The description includes the valuation           
techniques and key inputs for each category of assets or liabilities that are   
classified within Level 2 and Level 3 of the fair value hierarchy.              

Investments                                                                     

Valuation Controls and Procedures                                           

 On behalf of the Company and MetLife, Inc.'s Chief Investment Officer and
Chief Financial Officer, a pricing and valuation committee that is          
independent of the trading and investing functions and comprised of senior  
management provides oversight of control systems and valuation policies for 
securities, mortgage loans and derivatives. On a monthly basis, this        
committee reviews and approves new transaction types and markets, ensures   
that observable market prices and market-based parameters are used for      
valuation, wherever possible, and determines that judgmental valuation      
adjustments, when applied, are based upon established policies and are      
 applied consistently over time. This committee also provides oversight of the
selection of independent third party pricing providers and the controls and 
procedures to evaluate third party pricing. Periodically, the Chief         
 Accounting Officer reports to the Audit Committee of MetLife, Inc.'s Board of
Directors regarding compliance with fair value accounting standards.        

The Company reviews its valuation methodologies on an ongoing basis and 
revises those methodologies when necessary based on changing market         
conditions. Assurance is gained on the overall reasonableness and consistent
 application of input assumptions, valuation methodologies and compliance with
fair value accounting standards through controls designed to ensure         
valuations represent an exit price. Several controls are utilized, including
certain monthly controls, which include, but are not limited to, analysis of
portfolio returns to corresponding benchmark returns, comparing a sample of 
executed prices of securities sold to the fair value estimates, comparing   
fair value estimates to management's knowledge of the current market,       
reviewing the bid/ask spreads to assess activity, comparing prices from     
multiple independent pricing services and ongoing due diligence to confirm  
that independent pricing services use market-based parameters. The process  
includes a determination of the observability of inputs used in estimated   
fair values received from                                                   

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Notes to the Consolidated Financial Statements -- (Continued) 

 independent pricing services or brokers by assessing whether these inputs can
be corroborated by observable market data. The Company ensures that prices  
received from independent brokers, also referred to herein as "consensus    
pricing," represent a reasonable estimate of fair value by reviewing such   
pricing with the Company's knowledge of the current market dynamics and     
current pricing for similar financial instruments. While independent        
non-binding broker quotations are utilized, they are not used for a         
significant portion of the portfolio. For example, fixed maturity securities
priced using independent non-binding broker quotations represent 0.5% of the
total estimated fair value of fixed maturity securities and 7% of the total 
estimated fair value of Level 3 fixed maturity securities.                  

  The Company also applies a formal process to challenge any prices received
from independent pricing services that are not considered representative of 
estimated fair value. If prices received from independent pricing services  
are not considered reflective of market activity or representative of       
 estimated fair value, independent non-binding broker quotations are obtained,
or an internally developed valuation is prepared. Internally developed      
valuations of current estimated fair value, which reflect internal estimates
of liquidity and nonperformance risks, compared with pricing received from  
 the independent pricing services, did not produce material differences in the
estimated fair values for the majority of the portfolio; accordingly,       
overrides were not material. This is, in part, because internal estimates of
liquidity and nonperformance risks are generally based on available market  
evidence and estimates used by other market participants. In the absence of 
such market-based evidence, management's best estimate is used.             

Securities, Short-term Investments, Long-term Debt of CSEs and Trading          
Liabilities                                                                     

When available, the estimated fair value of these investments is based on   
quoted prices in active markets that are readily and regularly obtainable.      
Generally, these are the most liquid of the Company's securities holdings and   
valuation of these securities does not involve management's judgment.           

When quoted prices in active markets are not available, the determination of
estimated fair value is based on market standard valuation methodologies,       
giving priority to observable inputs. The significant inputs to the market      
standard valuation methodologies for certain types of securities with           
reasonable levels of price transparency are inputs that are observable in the   
market or can be derived principally from, or corroborated by, observable       
market data. When observable inputs are not available, the market standard      
valuation methodologies rely on inputs that are significant to the estimated    
fair value that are not observable in the market or cannot be derived           
principally from, or corroborated by, observable market data. These             
unobservable inputs can be based in large part on management's judgment or      
estimation and cannot be supported by reference to market activity. Even though 
these inputs are unobservable, management believes they are consistent with     
what other market participants would use when pricing such securities and are   
considered appropriate given the circumstances.                                 

The estimated fair value of FVO securities held by CSEs, long-term debt of  
CSEs and trading liabilities is determined on a basis consistent with the       
methodologies described herein for securities. The Company consolidates certain 
securitization entities that hold securities that have been accounted for under 
the FVO and classified within trading and FVO securities.                       

Level 2 Valuation Techniques and Key Inputs                                 

  This level includes fixed maturity securities and equity securities priced
principally by independent pricing services using observable inputs. Trading
and FVO securities and short-term investments within this level are of a    
similar nature and class to the Level 2 fixed maturity securities and equity
securities.                                                                 

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Notes to the Consolidated Financial Statements -- (Continued) 

U.S. corporate and foreign corporate securities                             

These securities are principally valued using the market and income     
approaches. Valuations are based primarily on quoted prices in markets that 
are not active, or using matrix pricing or other similar techniques that use
standard market observable inputs such as benchmark yields, spreads off     
benchmark yields, new issuances, issuer rating, duration, and trades of     
identical or comparable securities. Investment grade privately placed       
 securities are valued using discounted cash flow methodologies using standard
 market observable inputs, and inputs derived from, or corroborated by, market
observable data including market yield curve, duration, call provisions,    
 observable prices and spreads for similar publicly traded or privately traded
 issues that incorporate the credit quality and industry sector of the issuer.
This level also includes certain below investment grade privately placed    
fixed maturity securities priced by independent pricing services that use   
observable inputs.                                                          

U.S. Treasury and agency securities                                         

These securities are principally valued using the market approach.      
Valuation is based primarily on quoted prices in markets that are not active
or using matrix pricing or other similar techniques using standard market   
 observable inputs such as benchmark U.S. Treasury yield curve, the spread off
the U.S. Treasury yield curve for the identical security and comparable     
securities that are actively traded.                                        

Structured securities comprised of RMBS, CMBS and ABS                       

These securities are principally valued using the market and income     
approaches. Valuation is based primarily on matrix pricing, discounted cash 
flow methodologies or other similar techniques using standard market inputs 
including spreads for actively traded securities, spreads off benchmark     
yields, expected prepayment speeds and volumes, current and forecasted loss 
 severity, rating, weighted average coupon, weighted average maturity, average
delinquency rates, geographic region, debt-service coverage ratios and      
issuance-specific information, including, but not limited to: collateral    
type, payment terms of the underlying assets, payment priority within the   
tranche, structure of the security, deal performance and vintage of loans.  

State and political subdivision and foreign government securities           

These securities are principally valued using the market approach.      
Valuation is based primarily on matrix pricing or other similar techniques  
using standard market observable inputs including benchmark U.S. Treasury   
yield or other yields, issuer ratings, broker-dealer quotes, issuer spreads 
and reported trades of similar securities, including those within the same  
sub-sector or with a similar maturity or credit rating.                     

Common and non-redeemable preferred stock                                   

These securities are principally valued using the market approach where 
 market quotes are available but are not considered actively traded. Valuation
is based principally on observable inputs including quoted prices in markets
that are not considered active.                                             

Level 3 Valuation Techniques and Key Inputs:                                    

 In general, fixed maturity securities and equity securities classified within
Level 3 use many of the same valuation techniques and inputs as described in    
the Level 2 Valuation Techniques and Key Inputs. However, if                    

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

key inputs are unobservable, or if the investments are less liquid and there is 
very limited trading activity, the investments are generally classified as      
Level 3. The use of independent non-binding broker quotations to value          
investments generally indicates there is a lack of liquidity or a lack of       
transparency in the process to develop the valuation estimates, generally       
causing these investments to be classified in Level 3.                          

Trading and FVO securities and short-term investments within this level are 
of a similar nature and class to the Level 3 securities described below;        
accordingly, the valuation techniques and significant market standard           
observable inputs used in their valuation are also similar to those described   
below.                                                                          

U.S. corporate and foreign corporate securities                             

 These securities, including financial services industry hybrid securities
 classified within fixed maturity securities, are principally valued using the
market approach. Valuations are based primarily on matrix pricing or other  
similar techniques that utilize unobservable inputs or inputs that cannot be
derived principally from, or corroborated by, observable market data,       
 including illiquidity premium, delta spread adjustments or spreads over below
 investment grade curves to reflect industry trends or specific credit-related
issues; and inputs including quoted prices for identical or similar         
 securities that are less liquid and based on lower levels of trading activity
than securities classified in Level 2. Certain valuations are based on      
independent non-binding broker quotations.                                  

Structured securities comprised of RMBS, CMBS and ABS                       

These securities are principally valued using the market and income     
approaches. Valuation is based primarily on matrix pricing, discounted cash 
flow methodologies or other similar techniques that utilize inputs that are 
unobservable or cannot be derived principally from, or corroborated by,     
observable market data, including spreads over below investment grade curves
to reflect industry trends on specific credit-related issues. Below         
investment grade securities, alternative residential mortgage loan RMBS and 
sub-prime RMBS included in this level are valued based on inputs including  
quoted prices for identical or similar securities that are less liquid and  
based on lower levels of trading activity than securities classified in     
Level 2. Certain of these valuations are based on independent non-binding   
broker quotations.                                                          

Foreign government securities                                               

These securities are principally valued using the market approach.      
 Valuation is based primarily on independent non-binding broker quotations and
inputs including quoted prices for identical or similar securities that are 
less liquid and based on lower levels of trading activity than securities   
classified in Level 2.                                                      

Common and non-redeemable preferred stock                                   

These securities, including privately held securities and financial     
services industry hybrid securities classified within equity securities, are
principally valued using the market and income approaches. Valuations are   
based primarily on matrix pricing, discounted cash flow methodologies or    
other similar techniques using inputs such as comparable credit rating and  
issuance structure. Certain of these securities are valued based on inputs  
including quoted prices for identical or similar securities that are less   
liquid and based on lower levels of trading activity than securities        
classified in Level 2 and independent non-binding broker quotations.        

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Separate Account Assets                                                         

 Separate account assets are carried at estimated fair value and reported as a
summarized total on the consolidated balance sheets. The estimated fair value   
of separate account assets is based on the estimated fair value of the          
underlying assets. Assets within the Company's separate accounts include:       
mutual funds, fixed maturity securities, equity securities, derivatives, hedge  
funds, other limited partnership interests, short-term investments and cash and 
cash equivalents.                                                               

Level 2 Valuation Techniques and Key Inputs:                                

   These assets are comprised of investments that are similar in nature to the
instruments described under "--Securities, Short-term Investments, Long-term
Debt of CSEs and Trading Liabilities" and "-- Derivatives -- Freestanding   
Derivatives." Also included are certain mutual funds and hedge funds without
readily determinable fair values as prices are not published publicly.      
Valuation of the mutual funds and hedge funds is based upon quoted prices or
reported NAVs provided by the fund managers.                                

Level 3 Valuation Techniques and Key Inputs:                                

   These assets are comprised of investments that are similar in nature to the
instruments described under "--Securities, Short-term Investments, Long-term
Debt of CSEs and Trading Liabilities" and "-- Derivatives -- Freestanding   
Derivatives." Separate account assets within this level also include other  
 limited partnership interests. Other limited partnership interests are valued
giving consideration to the value of the underlying holdings of the         
partnerships and by applying a premium or discount, if appropriate, for     
factors such as liquidity, bid/ask spreads, the performance record of the   
fund manager or other relevant variables which may impact the exit value of 
the particular partnership interest.                                        

Derivatives                                                                     

The estimated fair value of derivatives is determined through the use of
quoted market prices for exchange-traded derivatives, or through the use of 
pricing models for OTC derivatives. The determination of estimated fair     
value, when quoted market values are not available, is based on market      
standard valuation methodologies and inputs that management believes are    
consistent with what other market participants would use when pricing such  
instruments. Derivative valuations can be affected by changes in interest   
rates, foreign currency exchange rates, financial indices, credit spreads,  
default risk, nonperformance risk, volatility, liquidity and changes in     
estimates and assumptions used in the pricing models. The valuation controls
and procedures for derivatives are described in "-- Investments."           

 The significant inputs to the pricing models for most OTC derivatives are
inputs that are observable in the market or can be derived principally from,
or corroborated by, observable market data. Significant inputs that are     
observable generally include: interest rates, foreign currency exchange     
rates, interest rate curves, credit curves and volatility. However, certain 
 OTC derivatives may rely on inputs that are significant to the estimated fair
value that are not observable in the market or cannot be derived principally
 from, or corroborated by, observable market data. Significant inputs that are
unobservable generally include references to emerging market currencies and 
inputs that are outside the observable portion of the interest rate curve,  
 credit curve, volatility or other relevant market measure. These unobservable
 inputs may involve significant management judgment or estimation. Even though
unobservable, these inputs are based on assumptions deemed appropriate given
 the circumstances and management believes they are consistent with what other
market participants would use when pricing such instruments.                

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

The credit risk of both the counterparty and the Company are considered in  
determining the estimated fair value for all OTC derivatives, and any potential 
credit adjustment is based on the net exposure by counterparty after taking     
into account the effects of netting agreements and collateral arrangements. The 
Company values its derivatives using the standard swap curve which includes a   
spread to the risk free rate. This credit spread is appropriate for those       
parties that execute trades at pricing levels consistent with the standard swap 
curve. As the Company and its significant derivative counterparties             
consistently execute trades at such pricing levels, additional credit risk      
adjustments are not currently required in the valuation process. The Company's  
ability to consistently execute at such pricing levels is in part due to the    
netting agreements and collateral arrangements that are in place with all of    
its significant derivative counterparties. An evaluation of the requirement to  
make additional credit risk adjustments is performed by the Company each        
reporting period.                                                               

Most inputs for OTC derivatives are mid-market inputs but, in certain cases,
bid level inputs are used when they are deemed more representative of exit      
value. Market liquidity, as well as the use of different methodologies,         
assumptions and inputs, may have a material effect on the estimated fair values 
of the Company's derivatives and could materially affect net income.            

Freestanding Derivatives                                                    

Level 2 Valuation Techniques and Key Inputs:                            

   This level includes all types of derivatives utilized by the Company with
the exception of exchange-traded derivatives included within Level 1 and  
those derivatives with unobservable inputs as described in Level 3. These 
derivatives are principally valued using the income approach.             

Interest rate                                                         

    Non-option-based. -- Valuations are based on present value techniques,
    which utilize significant inputs that may include the swap yield curve and
London Interbank Offered Rate ("LIBOR") basis curves.                 

   Option-based. -- Valuations are based on option pricing models, which
 utilize significant inputs that may include the swap yield curve, LIBOR
basis curves and interest rate volatility.                            

Foreign currency exchange rate                                        

    Non-option-based. -- Valuations are based on present value techniques,
 which utilize significant inputs that may include the swap yield curve,
  LIBOR basis curves, currency spot rates and cross currency basis curves.

Credit                                                                

    Non-option-based. -- Valuations are based on present value techniques,
 which utilize significant inputs that may include the swap yield curve,
credit curves and recovery rates.                                     

Equity market                                                         

   Option-based. -- Valuations are based on option pricing models, which
utilize significant inputs that may include the swap yield curve, spot
equity index levels, dividend yield curves and equity volatility.     

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Level 3 Valuation Techniques and Key Inputs:                            

These derivatives are principally valued using the income approach.   
  Valuations of non-option-based derivatives utilize present value techniques,
whereas valuations of option-based derivatives utilize option pricing     
models. These valuation methodologies generally use the same inputs as    
described in the corresponding sections above for Level 2 measurements of 
derivatives. However, these derivatives result in Level 3 classification  
because one or more of the significant inputs are not observable in the   
  market or cannot be derived principally from, or corroborated by, observable
market data.                                                              

Interest rate                                                         

  Non-option-based. -- Significant unobservable inputs may include the
  extrapolation beyond observable limits of the swap yield curve and LIBOR
basis curves.                                                         

Foreign currency exchange rate                                        

  Non-option-based. -- Significant unobservable inputs may include the
extrapolation beyond observable limits of the swap yield curve, LIBOR 
basis curves, cross currency basis curves and currency correlation.   

Credit                                                                

     Non-option-based. -- Significant unobservable inputs may include credit
  spreads, repurchase rates and the extrapolation beyond observable limits
 of the swap yield curve and credit curves. Certain of these derivatives
are valued based on independent non-binding broker quotations.        

Embedded Derivatives                                                          

Embedded derivatives principally include certain direct variable annuity    
guarantees, certain affiliated ceded reinsurance agreements related to such     
variable annuity guarantees, equity or bond indexed crediting rates within      
certain funding agreements and those related to ceded funds withheld on         
reinsurance. Embedded derivatives are recorded at estimated fair value with     
changes in estimated fair value reported in net income.                         

The Company issues certain variable annuity products with guaranteed minimum
benefits. GMWBs, GMABs and certain GMIBs are embedded derivatives, which are    
measured at estimated fair value separately from the host variable annuity      
contract, with changes in estimated fair value reported in net derivative gains 
(losses). These embedded derivatives are classified within PABs in the          
consolidated balance sheets.                                                    

The fair value of these embedded derivatives, estimated as the present value
of projected future benefits minus the present value of projected future fees   
using actuarial and capital market assumptions including expectations           
concerning policyholder behavior, is calculated by the Company's actuarial      
department. The calculation is based on in-force business, and is performed     
using standard actuarial valuation software which projects future cash flows    
from the embedded derivative over multiple risk neutral stochastic scenarios    
using observable risk free rates.                                               

 Capital market assumptions, such as risk free rates and implied volatilities,
are based on market prices for publicly traded instruments to the extent that   
prices for such instruments are observable. Implied volatilities beyond the     
observable period are extrapolated based on observable implied volatilities and 
historical volatilities. Actuarial assumptions, including mortality, lapse,     
withdrawal and utilization, are unobservable and are reviewed at least annually 
based on actuarial studies of historical experience.                            

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

The valuation of these guarantee liabilities includes nonperformance risk   
adjustments and adjustments for a risk margin related to non-capital market     
inputs. The nonperformance adjustment is determined by taking into              
consideration publicly available information relating to spreads in the         
secondary market for MetLife, Inc.'s debt, including related credit default     
swaps. These observable spreads are then adjusted, as necessary, to reflect the 
priority of these liabilities and the claims paying ability of the issuing      
insurance subsidiaries compared to MetLife, Inc.                                

Risk margins are established to capture the non-capital market risks of the 
instrument which represent the additional compensation a market participant     
would require to assume the risks related to the uncertainties of such          
actuarial assumptions as annuitization, premium persistency, partial withdrawal 
and surrenders. The establishment of risk margins requires the use of           
significant management judgment, including assumptions of the amount and cost   
of capital needed to cover the guarantees. These guarantees may be more costly  
than expected in volatile or declining equity markets. Market conditions        
including, but not limited to, changes in interest rates, equity indices,       
market volatility and foreign currency exchange rates; changes in               
nonperformance risk; and variations in actuarial assumptions regarding          
policyholder behavior, mortality and risk margins related to non-capital market 
inputs, may result in significant fluctuations in the estimated fair value of   
the guarantees that could materially affect net income.                         

The Company ceded the risk associated with certain of the GMIBs, GMABs and  
GMWBs previously described. In addition to ceding risks associated with         
guarantees that are accounted for as embedded derivatives, the Company also     
ceded directly written GMIBs that are accounted for as insurance (i.e., not as  
embedded derivatives) but where the reinsurance agreement contains an embedded  
derivative. These embedded derivatives are included within premiums,            
reinsurance and other receivables in the consolidated balance sheets with       
changes in estimated fair value reported in net derivative gains (losses). The  
value of the embedded derivatives on the ceded risk is determined using a       
methodology consistent with that described previously for the guarantees        
directly written by the Company with the exception of the input for             
nonperformance risk that reflects the credit of the reinsurer.                  

The estimated fair value of the embedded derivatives within funds withheld  
related to certain ceded reinsurance is determined based on the change in       
estimated fair value of the underlying assets held by the Company in a          
reference portfolio backing the funds withheld liability. The estimated fair    
value of the underlying assets is determined as previously described in "--     
Investments -- Securities, Short-term Investments, Long-term Debt of CSEs and   
Trading Liabilities." The estimated fair value of these embedded derivatives is 
included, along with their funds withheld hosts, in other liabilities in the    
consolidated balance sheets with changes in estimated fair value recorded in    
net derivative gains (losses). Changes in the credit spreads on the underlying  
assets, interest rates and market volatility may result in significant          
fluctuations in the estimated fair value of these embedded derivatives that     
could materially affect net income.                                             

The estimated fair value of the embedded equity and bond indexed derivatives
contained in certain funding agreements is determined using market standard     
swap valuation models and observable market inputs, including a nonperformance  
risk adjustment. The estimated fair value of these embedded derivatives are     
included, along with their funding agreements host, within PABs with changes in 
estimated fair value recorded in net derivative gains (losses). Changes in      
equity and bond indices, interest rates and the Company's credit standing may   
result in significant fluctuations in the estimated fair value of these         
embedded derivatives that could materially affect net income.                   

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

Embedded Derivatives Within Asset and Liability Host Contracts              

Level 3 Valuation Techniques and Key Inputs:                            

Direct Guaranteed Minimum Benefits                                    

These embedded derivatives are principally valued using the income
    approach. Valuations are based on option pricing techniques, which utilize
 significant inputs that may include swap yield curve, currency exchange
rates and implied volatilities. These embedded derivatives result in  
  Level 3 classification because one or more of the significant inputs are
not observable in the market or cannot be derived principally from, or
  corroborated by, observable market data. Significant unobservable inputs
   generally include: the extrapolation beyond observable limits of the swap
yield curve and implied volatilities, actuarial assumptions for       
policyholder behavior and mortality and the potential variability in  
policyholder behavior and mortality, nonperformance risk and cost of  
capital for purposes of calculating the risk margin.                  

Reinsurance Ceded on Certain Guaranteed Minimum Benefits              

These embedded derivatives are principally valued using the income
approach. The valuation techniques and significant market standard    
    unobservable inputs used in their valuation are similar to those described
above in "-- Direct Guaranteed Minimum Benefits" and also include     
counterparty credit spreads.                                          

Embedded Derivatives Within Funds Withheld Related to Certain Ceded   
Reinsurance                                                               

These embedded derivatives are principally valued using the income
approach. The valuations are based on present value techniques, which 
  utilize significant inputs that may include the swap yield curve and the
fair value of assets within the reference portfolio. These embedded   
 derivatives result in Level 3 classification because one or more of the
  significant inputs are not observable in the market or cannot be derived
   principally from, or corroborated by, observable market data. Significant
unobservable inputs generally include the fair value of certain assets
   within the reference portfolio which are not observable in the market and
   cannot be derived principally from, or corroborated by, observable market
data.                                                                 

Transfers between Levels                                                        

Overall, transfers between levels occur when there are changes in the   
observability of inputs and market activity. Transfers into or out of any   
level are assumed to occur at the beginning of the period.                  

Transfers between Levels 1 and 2:                                           

  During 2012, there were no transfers between Levels 1 and 2 for assets and
liabilities measured at estimated fair value and still held at December 31, 
2012. During 2011, transfers between Levels 1 and 2 were not significant for
assets and liabilities measured at estimated fair value and still held at   
December 31, 2011.                                                          

Transfers into or out of Level 3:                                           

  Transfers into or out of Level 3 are presented in the tables which follow.
Assets and liabilities are transferred into Level 3 when a significant input
cannot be corroborated with market observable data. This                    

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

occurs when market activity decreases significantly and underlying inputs   
cannot be observed, current prices are not available, and/or when there are 
significant variances in quoted prices, thereby affecting transparency.     
Assets and liabilities are transferred out of Level 3 when circumstances    
change such that a significant input can be corroborated with market        
observable data. This may be due to a significant increase in market        
activity, a specific event, or one or more significant input(s) becoming    
observable.                                                                 

 Transfers into Level 3 for fixed maturity securities and separate account
assets were due primarily to a lack of trading activity, decreased liquidity
and credit ratings downgrades (e.g., from investment grade to below         
 investment grade) which have resulted in decreased transparency of valuations
and an increased use of independent non-binding broker quotations and       
unobservable inputs, such as illiquidity premiums, delta spread adjustments,
or spreads from below investment grade curves.                              

   Transfers out of Level 3 for fixed maturity securities and separate account
assets resulted primarily from increased transparency of both new issuances 
that, subsequent to issuance and establishment of trading activity, became  
priced by independent pricing services and existing issuances that, over    
time, the Company was able to obtain pricing from, or corroborate pricing   
received from, independent pricing services with observable inputs or       
increases in market activity and upgraded credit ratings.                   

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

Assets and Liabilities Measured at Fair Value Using Significant Unobservable  
Inputs (Level 3)                                                              

The following table presents certain quantitative information about the     
significant unobservable inputs used in the fair value measurement for the more 
significant asset and liability classes measured at fair value on a recurring   
basis using significant unobservable inputs (Level 3) at December 31, 2012.     

                                                        [Enlarge/Download Table]


                                            Valuation Techniques        Significant Unobservable Inputs        Range         
                                       --------------------------------------------------------------------------------------
Fixed maturity securities:                                                                                                   
                                                                                                                             

 U.S. corporate and foreign corporate  Matrix pricing                   Delta spread adjustments (1)         (50) -     500  
                                                                        Illiquidity premium (1)               30  -      30  
                                                                        Spreads from below investment                        
                                                                          grade curves (1)                  (144) -     779  
                                                                        Offered quotes (2)                    --  -     178  
                                       Market pricing                   Quoted prices (2)                 (1,416) -     830  
                                       Consensus pricing                Offered quotes (2)                    35  -     105  
                                       --------------------------------------------------------------------------------------

 RMBS                                  Matrix pricing and discounted    Spreads from below investment                        
                                         cash flow                        grade curves (1)                     9  -   2,980  
                                       Market pricing                   Quoted prices (2)                     13  -     100  
                                       Consensus pricing                Offered quotes (2)                    28  -     100  
                                       --------------------------------------------------------------------------------------

 CMBS                                  Matrix pricing and discounted    Spreads from below investment                        
                                         cash flow                        grade curves (1)                    35  -   4,750  
                                       Market pricing                   Quoted prices (2)                    100  -     104  
                                       --------------------------------------------------------------------------------------

 ABS                                   Matrix pricing and discounted    Spreads from below investment                        
                                         cash flow                        grade curves (1)                    --  -   1,829  
                                       Market pricing                   Quoted prices (2)                     40  -     102  
                                       Consensus pricing                Offered quotes (2)                    --  -     111  
                                       --------------------------------------------------------------------------------------

 Foreign government                    Matrix pricing and discounted    Spreads from below investment                        
                                         cash flow                        grade curves (1)                   111  -     111  
                                       Market pricing                   Quoted prices (2)                     77  -     101  
                                       Consensus pricing                Offered quotes (2)                    82  -     158  
                                       --------------------------------------------------------------------------------------

Derivatives:                                                                                                                 
 Interest rate                         Present value techniques         Swap yield (1)                       186  -     332  
                                       --------------------------------------------------------------------------------------

 Foreign currency exchange rate        Present value techniques         Swap yield (1)                       647  -     795  
                                                                        Currency correlation                  43% -      57% 
                                       --------------------------------------------------------------------------------------

 Credit                                Present value techniques         Credit spreads (1)                   100  -     100  
                                       Consensus pricing                Offered quotes (3)                                   
                                       --------------------------------------------------------------------------------------
Embedded derivatives:                                                                                                        
 Direct and ceded guaranteed minimum   Option pricing techniques        Mortality rates:                                     
 benefits                                                                   Ages 0 - 40                        0% -    0.10% 
                                                                            Ages 41 - 60                    0.05% -    0.64% 
                                                                            Ages 61 - 115                   0.32% -     100% 
                                                                        Lapse rates:                                         
                                                                            Durations 1 - 10                0.50% -     100% 
                                                                            Durations 11 - 20                  3% -     100% 
                                                                            Durations 21 - 116                 3% -     100% 
                                                                        Utilization rates (4)                 20% -      50% 
                                                                        Withdrawal rates                    0.07% -      10% 
                                                                        Long-term equity volatilities      17.40% -      25% 
                                                                        Nonperformance risk spread          0.10% -    0.67% 
                                       --------------------------------------------------------------------------------------
                                                        [Enlarge/Download Table]

                                                                                                          Weighted
                                            Valuation Techniques        Significant Unobservable Inputs   Average 
                                       ---------------------------------------------------------------------------
Fixed maturity securities:                                                                                        
                                                                                                                  

 U.S. corporate and foreign corporate  Matrix pricing                   Delta spread adjustments (1)         84   
                                                                        Illiquidity premium (1)                   
                                                                        Spreads from below investment             
                                                                          grade curves (1)                  205   
                                                                        Offered quotes (2)                        
                                       Market pricing                   Quoted prices (2)                   138   
                                       Consensus pricing                Offered quotes (2)                        
                                       ---------------------------------------------------------------------------

 RMBS                                  Matrix pricing and discounted    Spreads from below investment             
                                         cash flow                        grade curves (1)                  541   
                                       Market pricing                   Quoted prices (2)                    99   
                                       Consensus pricing                Offered quotes (2)                        
                                       ---------------------------------------------------------------------------

 CMBS                                  Matrix pricing and discounted    Spreads from below investment             
                                         cash flow                        grade curves (1)                  486   
                                       Market pricing                   Quoted prices (2)                   102   
                                       ---------------------------------------------------------------------------

 ABS                                   Matrix pricing and discounted    Spreads from below investment             
                                         cash flow                        grade curves (1)                  105   
                                       Market pricing                   Quoted prices (2)                    99   
                                       Consensus pricing                Offered quotes (2)                        
                                       ---------------------------------------------------------------------------

 Foreign government                    Matrix pricing and discounted    Spreads from below investment             
                                         cash flow                        grade curves (1)                  111   
                                       Market pricing                   Quoted prices (2)                    87   
                                       Consensus pricing                Offered quotes (2)                        
                                       ---------------------------------------------------------------------------

Derivatives:                                                                                                      
 Interest rate                         Present value techniques         Swap yield (1)                            
                                       ---------------------------------------------------------------------------

 Foreign currency exchange rate        Present value techniques         Swap yield (1)                            
                                                                        Currency correlation                      
                                       ---------------------------------------------------------------------------

 Credit                                Present value techniques         Credit spreads (1)                        
                                       Consensus pricing                Offered quotes (3)                        
                                       ---------------------------------------------------------------------------
Embedded derivatives:                                                                                             
 Direct and ceded guaranteed minimum   Option pricing techniques        Mortality rates:                          
 benefits                                                                   Ages 0 - 40                           
                                                                            Ages 41 - 60                          
                                                                            Ages 61 - 115                         
                                                                        Lapse rates:                              
                                                                            Durations 1 - 10                      
                                                                            Durations 11 - 20                     
                                                                            Durations 21 - 116                    
                                                                        Utilization rates (4)                     
                                                                        Withdrawal rates                          
                                                                        Long-term equity volatilities             
                                                                        Nonperformance risk spread                
                                       ---------------------------------------------------------------------------

(1)For this unobservable input, range and weighted average are presented in     
basis points.                                                             

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

(2)For this unobservable input, range and weighted average are presented in     
accordance with the market convention for fixed maturity securities of    
dollars per hundred dollars of par.                                       

(3)At December 31, 2012, independent non-binding broker quotations were used in 
  the determination of less than 1% of the total net derivative estimated fair
value.                                                                    

(4)This range is attributable to certain GMIBs and lifetime withdrawal benefits.

The following is a summary of the valuation techniques and significant      
unobservable inputs used in the fair value measurement for other assets and     
liabilities classified within Level 3. These assets and liabilities are subject 
to the controls described under "-- Investments - Valuation Controls and        
Procedures." Generally, all other classes of securities including those within  
separate account assets and embedded derivatives within funds withheld related  
to certain ceded reinsurance use the same valuation techniques and significant  
unobservable inputs as previously described for Level 3 fixed maturity          
securities. This includes matrix pricing and discounted cash flow               
methodologies, inputs such as quoted prices for identical or similar securities 
that are less liquid and based on lower levels of trading activity than         
securities classified in Level 2, as well as independent non-binding broker     
quotations. The long-term debt of CSEs is valued using independent non-binding  
broker quotations and internal models including matrix pricing and discounted   
cash flow methodologies using current interest rates. The sensitivity of the    
estimated fair value to changes in the significant unobservable inputs for      
these assets and liabilities is similar in nature to that described below. The  
valuation techniques and significant unobservable inputs used in the fair value 
measurement for the more significant assets measured at estimated fair value on 
a nonrecurring basis and determined using significant unobservable inputs       
(Level 3) are summarized in "-- Nonrecurring Fair Value Measurements" and Note  
11.                                                                             

A description of the sensitivity of the estimated fair value to changes in  
the significant unobservable inputs for certain of the major asset and          
liability classes described above is as follows:                                

Securities                                                                  

  Significant spread widening in isolation will adversely impact the overall
valuation, while significant spread tightening will lead to substantial     
valuation increases. Significant increases (decreases) in expected default  
rates in isolation would result in substantially lower (higher) valuations. 
 Significant increases (decreases) in offered quotes in isolation would result
in substantially higher (lower) valuations. For U.S. and foreign corporate  
securities, significant increases (decreases) in illiquidity premiums in    
isolation would result in substantially lower (higher) valuations. For RMBS,
CMBS and ABS, changes in the assumptions used for the probability of default
is accompanied by a directionally similar change in the assumption used for 
 the loss severity and a directionally opposite change in the assumptions used
for prepayment rates.                                                       

Interest rate derivatives                                                   

 Significant increases (decreases) in the unobservable portion of the swap
yield curve in isolation will result in substantial valuation changes.      

Foreign currency exchange rate derivatives                                  

 Significant increases (decreases) in the unobservable portion of the swap
yield curve in isolation will result in substantial valuation changes.      
Increases (decreases) in currency correlation in isolation will increase    
(decrease) the significance of the change in valuations.                    

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Notes to the Consolidated Financial Statements -- (Continued) 

Credit derivatives                                                          

Credit derivatives with significant unobservable inputs are primarily   
comprised of credit default swaps written by the Company. Significant credit
spread widening in isolation will result in substantially higher adverse    
valuations, while significant spread tightening will result in substantially
 lower adverse valuations. Significant increases (decreases) in offered quotes
in isolation will result in substantially higher (lower) valuations.        

Direct and ceded guaranteed minimum benefits                                

   For any increase (decrease) in mortality and lapse rates, the fair value of
the guarantees will decrease (increase). For any increase (decrease) in     
utilization and volatility, the fair value of the guarantees will increase  
 (decrease). Specifically for GMWBs, for any increase (decrease) in withdrawal
rates, the fair value of the guarantees will increase (decrease).           
Specifically for GMABs and GMIBs, for any increase (decrease) in withdrawal 
rates, the fair value of the guarantees will decrease (increase).           

The following tables summarize the change of all assets and (liabilities)   
measured at estimated fair value on a recurring basis using significant         
unobservable inputs (Level 3), including realized and unrealized gains (losses) 
of all assets and (liabilities) and realized and unrealized gains (losses) of   
all assets and (liabilities) still held at the end of the respective periods:   

                                                        [Enlarge/Download Table]

                                             Fair Value Measurements Using Significant Unobservable Inputs (Level 3)    
                                          ------------------------------------------------------------------------------
                                                                    Fixed Maturity Securities:                          
                                          ------------------------------------------------------------------------------
                                                       U.S.                                        State and            
                                            U.S.     Treasury   Foreign                            Political   Foreign  
                                          Corporate and Agency Corporate   RMBS    CMBS    ABS    Subdivision Government
                                          --------- ---------- --------- -------- ------ -------- ----------- ----------
                                                                          (In millions)                                 
                                                                                                                        
Year Ended December 31, 2012:                                                                                           
Balance, January 1,...................... $  4,919    $  25    $  2,258  $    691 $  219 $  1,146       $  --     $  291
Total realized/unrealized gains (losses)                                                                                
 included in:                                                                                                           
 Net income (loss): (1), (2).............                                                                               
   Net investment income.................        7       --           6        27     --        1          --          5
   Net investment gains (losses).........      (2)       --        (52)       (5)    (7)      (1)          --        (5)
   Net derivative gains (losses).........       --       --          --        --     --       --          --         --
 Other comprehensive income (loss).......      173       --         142       220    (3)      (3)          --         19
Purchases (3)............................    1,282       47       1,213       892    268      953          --          2
Sales (3)................................    (848)      (1)       (489)     (242)  (167)    (157)          --       (55)
Issuances (3)............................       --       --          --        --     --       --          --         --
Settlements (3)..........................       --       --          --        --     --       --          --         --
Transfers into Level 3 (4)...............      559       --          99       131    104        4          --         25
Transfers out of Level 3 (4).............    (630)       --       (123)      (12)   (12)     (20)          --         --
                                          --------- ---------- --------- -------- ------ -------- ----------- ----------
Balance, December 31,.................... $  5,460    $  71    $  3,054  $  1,702 $  402 $  1,923       $  --     $  282
                                          ========= ========== ========= ======== ====== ======== =========== ==========
Changes in unrealized gains (losses)                                                                                    
 included in net income (loss): (5)                                                                                     
   Net investment income................. $      4    $  --    $      5  $     27 $   -- $      1       $  --     $    5
   Net investment gains (losses)......... $    (3)    $  --    $   (13)  $    (2) $   -- $     --       $  --     $   --
   Net derivative gains (losses)......... $     --    $  --    $     --  $     -- $   -- $     --       $  --     $   --

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Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                                   Fair Value Measurements Using Significant Unobservable Inputs (Level 3)  
                                                   -----------------------------------------------------------------------  
                                                   Equity Securities:    Trading and FVO Securities:                        
                                                   --------------------- ------------------------                           
                                                               Non-                         FVO                             
                                                            redeemable    Actively        General                  Separate 
                                                   Common   Preferred      Traded         Account    Short-term    Account  
                                                   Stock      Stock      Securities      Securities  Investments  Assets (6)
                                                   ------   ----------   ----------      ----------  -----------  ----------
                                                                           (In millions)                                    
                                                                                                                            
Year Ended December 31, 2012:                                                                                               
Balance, January 1,............................... $  104     $  293       $  --           $  14       $  134      $  1,082 
Total realized/unrealized gains (losses) included                                                                           
 in:                                                                                                                        
 Net income (loss): (1), (2)......................                                                                          
  Net investment income...........................     --         --          --              12           --            -- 
  Net investment gains (losses)...................      7        (1)          --              --           --            84 
  Net derivative gains (losses)...................     --         --          --              --           --            -- 
 Other comprehensive income (loss)................    (7)         16          --              --         (19)            -- 
Purchases (3).....................................     10          5           6              --          246           171 
Sales (3).........................................   (24)       (32)          --              --        (106)         (379) 
Issuances (3).....................................     --         --          --              --           --             2 
Settlements (3)...................................     --         --          --              --           --           (1) 
Transfers into Level 3 (4)........................      1         --          --              --            5            24 
Transfers out of Level 3 (4)......................   (31)         --          --              --          (8)          (43) 
                                                   ------   ----------   ----------      ----------  -----------  ----------
Balance, December 31,............................. $   60     $  281       $   6           $  26       $  252      $    940 
                                                   ======   ==========   ==========      ==========  ===========  ==========
Changes in unrealized gains (losses) included in                                                                            
 net income (loss): (5)                                                                                                     
  Net investment income........................... $   --     $   --       $  --           $  12       $   --      $     -- 
  Net investment gains (losses)................... $  (4)     $   --       $  --           $  --       $   --      $     -- 
  Net derivative gains (losses)................... $   --     $   --       $  --           $  --       $   --      $     -- 

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Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                                   Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
                                                   -----------------------------------------------------------------------
                                                           Net Derivatives: (7)                                           
                                                   ----------------------------------------                               
                                                              Foreign                                                     
                                                              Currency                            Net                     
                                                   Interest   Exchange             Equity      Embedded       Long-term   
                                                     Rate       Rate     Credit    Market   Derivatives (8)  Debt of CSEs 
                                                   ---------  --------  --------  --------  ---------------  ------------ 
                                                                             (In millions)                                
                                                                                                                          
Year Ended December 31, 2012:                                                                                             
Balance, January 1,............................... $      67  $     56  $      1  $     --    $     (790)    $     (116)  
Total realized/unrealized gains (losses) included                                                                         
 in:                                                                                                                      
 Net income (loss): (1), (2)......................                                                                        
  Net investment income...........................        --        --        --        --             --             --  
  Net investment gains (losses)...................        --        --        --        --             --            (7)  
  Net derivative gains (losses)...................        17      (19)        38        --            629             --  
 Other comprehensive income (loss)................       (1)        --        --        --             --             --  
Purchases (3).....................................        --        --        --        --             --             --  
Sales (3).........................................        --        --        --        --             --             --  
Issuances (3).....................................        --        --       (3)        --             --             --  
Settlements (3)...................................      (25)        --       (3)        --             52             79  
Transfers into Level 3 (4)........................        --        --        --        --             --             --  
Transfers out of Level 3 (4)......................        --        --        --        --             --             --  
                                                   ---------  --------  --------  --------  ---------------  ------------ 
Balance, December 31,............................. $      58  $     37  $     33  $     --    $     (109)    $      (44)  
                                                   =========  ========  ========  ========  ===============  ============ 
Changes in unrealized gains (losses) included in                                                                          
 net income (loss): (5)                                                                                                   
  Net investment income........................... $      --  $     --  $     --  $     --    $        --    $        --  
  Net investment gains (losses)................... $      --  $     --  $     --  $     --    $        --    $       (7)  
  Net derivative gains (losses)................... $      --  $   (19)  $     36  $     --    $       636    $        --  

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Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                      Fair Value Measurements Using Significant Unobservable Inputs (Level 3)        
                               --------------------------------------------------------------------------------------
                                                             Fixed Maturity Securities:                              
                               --------------------------------------------------------------------------------------
                                             U.S.                                               State and            
                                 U.S.      Treasury   Foreign                                   Political   Foreign  
                               Corporate  and Agency Corporate     RMBS      CMBS      ABS     Subdivision Government
                               ---------- ---------- ---------- ---------- -------- ---------- ----------- ----------
                                                                   (In millions)                                     
                                                                                                                     
Year Ended December 31, 2011:                                                                                        
Balance, January 1,........... $    5,063    $    44 $    2,796 $    1,985 $    161 $    1,514     $     1   $    171
Total realized/unrealized                                                                                            
 gains (losses) included in:                                                                                         
 Net income (loss): (1), (2)..                                                                                       
  Net investment income.......          4         --          7         10       --          2          --          6
  Net investment gains                                                                                               
   (losses)...................       (15)         --         16       (10)      (1)       (12)          --         --
  Net derivative gains                                                                                               
   (losses)...................         --         --         --         --       --         --          --         --
 Other comprehensive income                                                                                          
  (loss)......................        258          2       (24)       (52)       28         42          --         17
Purchases (3).................        789         --        915         78      106        670          --        118
Sales (3).....................      (653)        (1)    (1,129)      (127)     (86)      (370)          --       (21)
Issuances (3).................         --         --         --         --       --         --          --         --
Settlements (3)...............         --         --         --         --       --         --          --         --
Transfers into Level 3 (4)....        122         --        155         --       11         11          --         --
Transfers out of Level 3 (4)..      (649)       (20)      (478)    (1,193)       --      (711)         (1)         --
                               ---------- ---------- ---------- ---------- -------- ---------- ----------- ----------
Balance, December 31,......... $    4,919    $    25 $    2,258 $      691 $    219 $    1,146     $    --   $    291
                               ========== ========== ========== ========== ======== ========== =========== ==========
Changes in unrealized gains                                                                                          
 (losses) included in net                                                                                            
 income (loss): (5)                                                                                                  
  Net investment income....... $        4    $    -- $        5 $       11 $     -- $        2     $    --   $      5
  Net investment gains                                                                                               
   (losses)................... $     (27)    $    -- $     (22) $     (10) $     -- $      (9)     $    --   $     --
  Net derivative gains                                                                                               
   (losses)................... $       --    $    -- $       -- $       -- $     -- $       --     $    --   $     --

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Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                                   Fair Value Measurements Using Significant Unobservable Inputs (Level 3)   
                                                   ------------------------------------------------------------------------- 
                                                   Equity Securities:     Trading and FVO Securities:                        
                                                   ---------------------- -------------------------                          
                                                                 Non-                       FVO                              
                                                              redeemable   Actively       General                   Separate 
                                                    Common    Preferred     Traded        Account     Short-term    Account  
                                                    Stock       Stock     Securities     Securities   Investments  Assets (6)
                                                    --------  ----------  ----------     ----------   -----------  ----------
                                                                            (In millions)                                    
                                                                                                                             
Year Ended December 31, 2011:                                                                                                
Balance, January 1,............................... $     79    $    633    $    10        $    50      $    379    $    1,509
Total realized/unrealized gains (losses) included                                                                            
 in:                                                                                                                         
 Net income (loss): (1), (2)......................                                                                           
  Net investment income...........................       --          --         --            (6)             1            --
  Net investment gains (losses)...................       11        (45)         --             --           (1)           101
  Net derivative gains (losses)...................       --          --         --             --            --            --
 Other comprehensive income (loss)................       11           1         --             --            --            --
Purchases (3).....................................       22           2         --             --           134           188
Sales (3).........................................     (20)       (298)        (8)           (30)         (379)         (482)
Issuances (3).....................................       --          --         --             --            --            --
Settlements (3)...................................       --          --         --             --            --            --
Transfers into Level 3 (4)........................        1          --         --             --            --            18
Transfers out of Level 3 (4)......................       --          --        (2)             --            --         (252)
                                                   --------   ----------  ----------     ----------   -----------  ----------
Balance, December 31,............................. $    104    $    293    $    --        $    14      $    134    $    1,082
                                                   ========   ==========  ==========     ==========   ===========  ==========
Changes in unrealized gains (losses) included in                                                                             
 net income (loss): (5)                                                                                                      
 Net investment income............................ $     --    $     --    $    --        $   (6)      $      1    $       --
 Net investment gains (losses).................... $    (6)    $   (16)    $    --        $    --      $    (1)    $       --
 Net derivative gains (losses).................... $     --    $     --    $    --        $    --      $     --    $       --

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Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                                   Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
                                                   -----------------------------------------------------------------------
                                                         Net Derivatives: (7)                                             
                                                   ----------------------------------------                               
                                                              Foreign                                                     
                                                              Currency                            Net                     
                                                   Interest   Exchange            Equity       Embedded       Long-term   
                                                     Rate       Rate     Credit   Market    Derivatives (8)  Debt of CSEs 
                                                   --------   --------   ------   -------   ---------------  ------------ 
                                                                           (In millions)                                  
                                                                                                                          
Year Ended December 31, 2011:                                                                                             
Balance, January 1,...............................  $  (23)     $   46    $  33   $    --         $   (382)     $   (184) 
Total realized/unrealized gains (losses) included                                                                         
 in:                                                                                                                      
 Net income (loss): (1), (2)......................                                                                        
  Net investment income...........................       --         --       --        --                --            -- 
  Net investment gains (losses)...................       --         --       --        --                --           (8) 
  Net derivative gains (losses)...................      (7)         10     (33)        --             (458)            -- 
 Other comprehensive income (loss)................      130         --       14        --                --            -- 
Purchases (3).....................................       --         --       --        --                --            -- 
Sales (3).........................................       --         --       --        --                --            -- 
Issuances (3).....................................       --         --      (2)        --                --            -- 
Settlements (3)...................................     (33)         --     (11)        --                50            76 
Transfers into Level 3 (4)........................       --         --       --        --                --            -- 
Transfers out of Level 3 (4)......................       --         --       --        --                --            -- 
                                                   --------   --------   ------   -------   ---------------  ------------ 
Balance, December 31,.............................  $    67     $   56    $   1   $    --         $   (790)     $   (116) 
                                                   ========   ========   ======   =======   ===============  ============ 
Changes in unrealized gains (losses) included in                                                                          
 net income (loss): (5)                                                                                                   
  Net investment income...........................  $    --     $   --    $  --   $    --         $      --     $      -- 
  Net investment gains (losses)...................  $    --     $   --    $  --   $    --         $      --     $     (8) 
  Net derivative gains (losses)...................                                                              $      -- 
                                                    $  (13)     $   10    $(32)   $    --         $   (454)               

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Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                                     Fair Value Measurements Using Significant Unobservable Inputs (Level 3)  
                                                   ---------------------------------------------------------------------------
                                                                           Fixed Maturity Securities:                         
                                                   ---------------------------------------------------------------------------
                                                                U.S.                                     State and            
                                                     U.S.     Treasury   Foreign                         Political   Foreign  
                                                   Corporate and Agency Corporate   RMBS   CMBS   ABS   Subdivision Government
                                                   --------- ---------- --------- -------- ----- ------ ----------- ----------
                                                                                  (In millions)                               
                                                                                                                              
Year Ended December 31, 2010:                                                                                                 
Balance, January 1,...............................  $  4,674    $    --  $  3,456 $  2,290 $  87 $  958    $     20   $    249
Total realized/unrealized gains (losses) included                                                                             
 in:                                                                                                                          
 Net income (loss): (1), (2)......................                                                                            
  Net investment income...........................        17         --       (1)       63     2      5          --          5
  Net investment gains (losses)...................      (10)         --      (32)     (47)   (2)   (33)          --        (1)
  Net derivative gains (losses)...................        --         --        --       --    --     --          --         --
 Other comprehensive income (loss)................       184         --       179      234    50    113          --         16
Purchases, sales, issuances and settlements (3)...     (400)         22     (709)    (420)  (21)    581           2         15
Transfers into Level 3 (4)........................       751         22       351       57    45     29          --         --
Transfers out of Level 3 (4)......................     (153)         --     (448)    (192)    --  (139)        (21)      (113)
                                                   --------- ---------- --------- -------- ----- ------ ----------- ----------
Balance, December 31,.............................  $  5,063    $    44  $  2,796 $  1,985 $ 161 $1,514    $      1   $    171
                                                   ========= ========== ========= ======== ===== ====== =========== ==========
Changes in unrealized gains (losses) included in                                                                              
 net income (loss): (5)                                                                                                       
  Net investment income...........................  $      8    $    --  $    (2) $     62 $   1 $    5    $     --   $      5
  Net investment gains (losses)...................  $   (32)    $    --  $   (43) $   (26) $ (2) $ (23)    $     --   $     --
  Net derivative gains (losses)...................  $     --    $    --  $     -- $     -- $  -- $   --    $     --   $     --

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Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                                   Fair Value Measurements Using Significant Unobservable Inputs (Level 3)   
                                                   ------------------------------------------------------------------------- 
                                                   Equity Securities:     Trading and FVO Securities:                        
-                                                  ---------------------- -------------------------                          
                                                                Non-                        FVO                              
                                                             redeemable    Actively       General                   Separate 
                                                   Common    Preferred      Traded        Account     Short-term    Account  
                                                   Stock       Stock      Securities     Securities   Investments  Assets (6)
                                                   -------   ----------   ----------     ----------   -----------  ----------
                                                                            (In millions)                                    
                                                                                                                             
Year Ended December 31, 2010:                                                                                                
Balance, January 1,............................... $    64    $     793    $      32      $      51    $        8    $  1,583
Total realized/unrealized gains (losses) included                                                                            
 in:                                                                                                                         
 Net income (loss): (1), (2)......................                                                                           
  Net investment income...........................      --           --           --             10             1          --
  Net investment gains (losses)...................     (1)           30           --             --            --         142
  Net derivative gains (losses)...................      --           --           --             --            --          --
 Other comprehensive income (loss)................      --            2           --             --            --          --
Purchases, sales, issuances and settlements (3)...      16        (192)         (22)           (30)           370        (31)
Transfers into Level 3 (4)........................       1           --           --             37            --          46
Transfers out of Level 3 (4)......................     (1)           --           --           (18)            --       (231)
                                                   -------   ----------   ----------     ----------   -----------  ----------
Balance, December 31,............................. $    79    $     633    $      10      $      50    $      379    $  1,509
                                                   =======   ==========   ==========     ==========   ===========  ==========
Changes in unrealized gains (losses) included in                                                                             
 net income (loss): (5)                                                                                                      
  Net investment income........................... $    --    $      --    $      --      $      13    $        1    $     --
  Net investment gains (losses)................... $   (2)    $     (3)    $      --      $      --    $       --    $     --
  Net derivative gains (losses)................... $    --    $      --    $      --      $      --    $       --    $     --

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Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                                   Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
                                                   -----------------------------------------------------------------------
                                                        Net Derivatives: (7)                                              
                                                   ----------------------------------------                               
                                                               Foreign                                                    
                                                               Currency                           Net         Long-term   
                                                   Interest    Exchange            Equity      Embedded        Debt of    
                                                     Rate        Rate     Credit   Market   Derivatives (8)   CSEs (9)    
                                                   --------    --------   ------   ------   ---------------   ----------  
                                                                         (In millions)                                    
                                                                                                                          
Year Ended December 31, 2010:                                                                                             
Balance, January 1,...............................  $    --    $     53    $  37   $    2     $         166   $       --  
Total realized/unrealized gains (losses) included                                                                         
 in:                                                                                                                      
 Net income (loss): (1), (2)......................                                                                        
  Net investment income...........................       --          --       --       --                --           --  
  Net investment gains (losses)...................       --          --       --       --                --           48  
  Net derivative gains (losses)...................       23          28        2      (2)             (588)           --  
 Other comprehensive income (loss)................     (36)          --        1       --                --           --  
Purchases, sales, issuances and settlements (3)...     (10)        (35)      (7)       --                40        (232)  
Transfers into Level 3 (4)........................       --          --       --       --                --           --  
Transfers out of Level 3 (4)......................       --          --       --       --                --           --  
                                                   --------    --------   ------   ------   ---------------   ----------  
Balance, December 31,.............................  $  (23)    $     46    $  33   $   --     $       (382)   $    (184)  
                                                   ========    ========   ======   ======   ===============   ==========  
Changes in unrealized gains (losses) included in                                                                          
 net income (loss): (5)                                                                                                   
  Net investment income...........................  $    --    $     --    $  --   $   --     $          --   $       --  
  Net investment gains (losses)...................  $    --    $     --    $  --   $   --     $          --   $       48  
  Net derivative gains (losses)...................  $    23    $     21    $   3   $  (2)     $       (584)   $       --  

--------                                                                        

(1)Amortization of premium/discount is included within net investment income.   
Impairments charged to net income (loss) on securities are included in net
investment gains (losses). Lapses associated with net embedded derivatives
are included in net derivative gains (losses).                            

(2)Interest and dividend accruals, as well as cash interest coupons and         
dividends received, are excluded from the rollforward.                    

(3)The amount reported within purchases, sales, issuances and settlements is    
the purchase or issuance price and the sales or settlement proceeds based 
upon the actual date purchased or issued and sold or settled,             

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Notes to the Consolidated Financial Statements -- (Continued) 

  respectively. Items purchased/issued and sold/settled in the same period are
excluded from the rollforward. Fees attributed to embedded derivatives are
included in settlements.                                                  

(4)Gains and losses, in net income (loss) and OCI, are calculated assuming      
transfers into and/or out of Level 3 occurred at the beginning of the     
period. Items transferred into and then out of Level 3 in the same period 
are excluded from the rollforward.                                        

(5)Relates to assets and liabilities still held at the end of the respective    
periods.                                                                  

(6)Investment performance related to separate account assets is fully offset by 
corresponding amounts credited to contractholders within separate account 
liabilities. Therefore, such changes in estimated fair value are not      
recorded in net income. For the purpose of this disclosure, these changes 
are presented within net investment gains (losses).                       

(7)Freestanding derivative assets and liabilities are presented net for         
purposes of the rollforward.                                              

(8)Embedded derivative assets and liabilities are presented net for purposes of 
the rollforward.                                                          

(9)The long-term debt of the CSEs consolidated as of January 1, 2010 is         
reported within the purchases, sales, issuances and settlements caption of
the rollforward.                                                          

Fair Value Option                                                             

The following table presents information for long-term debt held by CSEs,   
which are accounted for under the FVO, and were initially measured at fair      
value.                                                                          

                                                        [Enlarge/Download Table]

                                                                             December 31,  
                                                                           ----------------
                                                                             2012     2011 
-                                                                          ------- --------
                                                                            (In millions)  
                                                                                           
Contractual principal balance............................................. $    60 $    138
Difference between estimated fair value and contractual principal balance.    (16)     (22)
                                                                           ------- --------
 Carrying value at estimated fair value (1)............................... $    44 $    116
                                                                           ======= ========

--------                                                                        

(1)Changes in estimated fair value are recognized in net investment gains       
(losses). Interest expense is recognized in other expenses.               

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

Nonrecurring Fair Value Measurements                                        

The following table presents information for assets measured at estimated   
fair value on a nonrecurring basis during the periods presented; that is, they  
are not measured at fair value on a recurring basis but are subject to fair     
value adjustments only in certain circumstances (for example, when there is     
evidence of impairment). The estimated fair values for these assets were        
determined using significant unobservable inputs (Level 3).                     

                                                        [Enlarge/Download Table]

                                                                      Years Ended December 31,                             
                                -------------------------------------------------------------------------------------------
                                              2012                              2011                              2010     
                                --------------------------------- --------------------------------- -----------------------
                                 Carrying    Carrying              Carrying    Carrying              Carrying    Carrying  
                                   Value       Value                 Value       Value                 Value       Value   
                                 Prior to      After     Gains     Prior to      After     Gains     Prior to      After   
                                Measurement Measurement (Losses)  Measurement Measurement (Losses)  Measurement Measurement
                                ----------- ----------- --------- ----------- ----------- --------- ----------- -----------
                                                                            (In millions)                                  
                                                                                                                           
Mortgage loans, net (1)........  $    377    $    361   $    (16)  $    168    $    143   $    (25)  $    176    $    160  
Other limited partnership                                                                                                  
 interests (2).................  $     78    $     48   $    (30)  $     11    $      8   $     (3)  $      3    $      1  
Real estate joint ventures (3).  $     12    $      8   $     (4)  $     --    $     --   $      --  $      8    $      3  
Goodwill (4)...................  $     10    $     --   $    (10)  $     --    $     --   $      --  $     --    $     --  
                                                                [Download Table]


                                ----------

                                ----------

                                 Gains    
                                (Losses)  
                                --------- 

                                          
Mortgage loans, net (1)........ $    (16) 
Other limited partnership                 
 interests (2)................. $     (2) 
Real estate joint ventures (3). $     (5) 
Goodwill (4)................... $      -- 

--------                                                                        

(1)The carrying value after measurement has been adjusted for the excess of the 
  carrying value prior to measurement over the estimated fair value. Estimated
fair values for impaired mortgage loans are based on independent broker   
quotations or valuation models using unobservable inputs or, if the loans 
are in foreclosure or are otherwise determined to be collateral dependent,
are based on the estimated fair value of the underlying collateral or the 
present value of the expected future cash flows.                          

(2)These investments were accounted for using the cost method. Estimated fair   
  value is determined from information provided in the financial statements of
the underlying entities including NAV data. These investments include     
private equity and debt funds that typically invest primarily in various  
strategies including domestic and international leveraged buyout funds;   
 power, energy, timber and infrastructure development funds; venture capital
funds; and below investment grade debt and mezzanine debt funds.          
  Distributions will be generated from investment gains, from operating income
from the underlying investments of the funds and from liquidation of the  
underlying assets of the funds. It is estimated that the underlying assets
of the funds will be liquidated over the next two to 10 years. Unfunded   
commitments for these investments at both December 31, 2012 and 2011 were 
not significant.                                                          

(3)These investments were accounted for using the cost method. Estimated fair   
  value is determined from information provided in the financial statements of
the underlying entities including NAV data. These investments include     
  several real estate funds that typically invest primarily in commercial real
estate. Distributions will be generated from investment gains, from       
operating income from the underlying investments of the funds and from    
 liquidation of the underlying assets of the funds. It is estimated that the
underlying assets of the funds will be liquidated over the next two to 10 
 years. Unfunded commitments for these investments at both December 31, 2012
and 2011 were not significant.                                            

(4)As discussed in Note 11, in 2012, the Company recorded an impairment of      
goodwill associated with the Retail Annuities reporting unit.             

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

Fair Value of Financial Instruments Carried at Other Than Fair Value            

 The following tables provide fair value information for financial instruments
that are carried on the balance sheet at amounts other than fair value. These   
tables exclude the following financial instruments: cash and cash equivalents,  
accrued investment income, payables for collateral under securities loaned and  
other transactions, short-term debt and those short-term investments that are   
not securities, such as time deposits, and therefore are not included in the    
three level hierarchy table disclosed in the "-- Recurring Fair Value           
Measurements" section. The estimated fair value of these financial instruments, 
which are primarily classified in Level 2 and, to a lesser extent, in Level 1,  
approximate carrying value as they are short-term in nature such that the       
Company believes there is minimal risk of material changes in interest rates or 
credit quality. The tables below also exclude financial instruments reported at 
estimated fair value on a recurring basis. See "-- Recurring Fair Value         
Measurements." All remaining balance sheet amounts excluded from the table      
below are not considered financial instruments subject to this disclosure.      

The carrying values and estimated fair values for such financial          
instruments, and their corresponding placement in the fair value hierarchy, are 
summarized as follows at:                                                       

                                                        [Enlarge/Download Table]

                                                                   December 31, 2012                          
                                             --------------------------------------------------------------   
                                                                  Fair Value Hierarchy                        
                                             --------------------------------------------------------------   
                                              Carrying                                         Total Estimated
                                               Value        Level 1     Level 2     Level 3      Fair Value   
                                             ---------- ----------- ----------- -----------    ---------------
                                                                     (In millions)                            
                                                                                                              
Assets:                                                                                                       
Mortgage loans, net......................... $   44,657 $        -- $        -- $    47,365      $    47,365  
Policy loans................................ $    8,364 $        -- $       793 $     9,470      $    10,263  
Real estate joint ventures.................. $       52 $        -- $        -- $        68      $        68  
Other limited partnership interests......... $    1,048 $        -- $        -- $     1,161      $     1,161  
Other invested assets....................... $    2,014 $        93 $     1,885 $       152      $     2,130  
Premiums, reinsurance and other                                                                               
 receivables................................ $   14,172 $        -- $        37 $    15,129      $    15,166  
Liabilities:                                                                                                  
PABs........................................ $   71,611 $        -- $        -- $    75,189      $    75,189  
Long-term debt.............................. $    2,276 $        -- $     2,713 $        --      $     2,713  
Other liabilities........................... $   19,865 $        -- $       171 $    20,488      $    20,659  
Separate account liabilities................ $   51,985 $        -- $    51,985 $        --      $    51,985  
Commitments: (1)                                                                                              
Mortgage loan commitments................... $       -- $        -- $        -- $        10      $        10  
Commitments to fund bank credit facilities,                                                                   
 bridge loans and private corporate bond                                                                      
 investments................................ $       -- $        -- $        13 $        --      $        13  

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Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                                                                          December 31, 2011     
                                                                                     ---------------------------
                                                                                         Carrying      Estimated
                                                                                        Value       Fair Value  
                                                                                     ------------- -------------
                                                                                            (In millions)       
                                                                                                                
Assets:                                                                                                         
Mortgage loans, net................................................................. $      43,880 $      46,013
Policy loans........................................................................ $       8,314 $      10,279
Real estate joint ventures.......................................................... $          59 $          73
Other limited partnership interests................................................. $       1,207 $       1,517
Other invested assets............................................................... $       1,996 $       2,032
Premiums, reinsurance and other receivables......................................... $      18,127 $      19,276
Liabilities:                                                                                                    
PABs................................................................................ $      65,606 $      68,360
Long-term debt...................................................................... $       2,106 $       2,408
Other liabilities................................................................... $      23,963 $      24,637
Separate account liabilities........................................................ $      45,467 $      45,467
Commitments: (1)                                                                                                
Mortgage loan commitments........................................................... $          -- $           3
Commitments to fund bank credit facilities, bridge loans and private corporate bond                             
 investments........................................................................ $          -- $          38

--------                                                                        

(1)Commitments are off-balance sheet obligations. Negative estimated fair       
values represent off-balance sheet liabilities. See Note 17 for additional
information on these off-balance sheet obligations.                       

 The methods, assumptions and significant valuation techniques and inputs used
to estimate the fair value of financial instruments are summarized as follows:  

Mortgage Loans                                                              

The estimated fair value of mortgage loans is primarily determined by       
estimating expected future cash flows and discounting them using current        
interest rates for similar mortgage loans with similar credit risk.             

Policy Loans                                                                

Policy loans with fixed interest rates are classified within Level 3. The   
estimated fair values for these loans are determined using a discounted cash    
flow model applied to groups of similar policy loans determined by the nature   
of the underlying insurance liabilities. Cash flow estimates are developed by   
applying a weighted-average interest rate to the outstanding principal balance  
of the respective group of policy loans and an estimated average maturity       
determined through experience studies of the past performance of policyholder   
repayment behavior for similar loans. These cash flows are discounted using     
current risk-free interest rates with no adjustment for borrower credit risk as 
these loans are fully collateralized by the cash surrender value of the         
underlying insurance policy. Policy loans with variable interest rates are      
classified within Level 2 and the estimated fair value approximates carrying    
value due to the absence of borrower credit risk and the short time period      
between interest rate resets, which presents minimal risk of a material change  
in estimated fair value due to changes in market interest rates.                

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

Real Estate Joint Ventures and Other Limited Partnership Interests          

The amounts disclosed in the preceding tables consist of those investments  
accounted for using the cost method. The estimated fair values for such cost    
method investments are generally based on the Company's share of the NAV as     
provided in the financial statements of the investees. In certain               
circumstances, management may adjust the NAV by a premium or discount when it   
has sufficient evidence to support applying such adjustments.                   

Other Invested Assets                                                       

Other invested assets within the preceding tables are principally comprised 
of loans to affiliates and funds withheld. The estimated fair value of loans to 
affiliates is determined by discounting the expected future cash flows using    
market interest rates currently available for instruments with similar terms    
and remaining maturities. For funds withheld, the Company evaluates the         
specific facts and circumstances of each instrument to determine the            
appropriate estimated fair values. These estimated fair values were not         
materially different from the recognized carrying values.                       

Premiums, Reinsurance and Other Receivables                                 

Premiums, reinsurance and other receivables in the preceding tables are     
principally comprised of certain amounts recoverable under reinsurance          
agreements, amounts on deposit with financial institutions to facilitate daily  
settlements related to certain derivatives and amounts receivable for           
securities sold but not yet settled.                                            

 Amounts recoverable under ceded reinsurance agreements, which the Company has
determined do not transfer significant risk such that they are accounted for    
using the deposit method of accounting, have been classified as Level 3. The    
valuation is based on discounted cash flow methodologies using significant      
unobservable inputs. The estimated fair value is determined using interest      
rates determined to reflect the appropriate credit standing of the assuming     
counterparty.                                                                   

 The amounts on deposit for derivative settlements, classified within Level 2,
essentially represent the equivalent of demand deposit balances and amounts due 
for securities sold are generally received over short periods such that the     
estimated fair value approximates carrying value.                               

PABs                                                                        

PABs in the preceding tables include investment contracts. Embedded         
derivatives on investment contracts and certain variable annuity guarantees     
accounted for as embedded derivatives are excluded from this caption in the     
preceding tables as they are separately presented in "-- Recurring Fair Value   
Measurements."                                                                  

The investment contracts primarily include certain funding agreements, fixed
deferred annuities, modified guaranteed annuities, fixed term payout annuities  
and total control accounts. The valuation of these investment contracts is      
based on discounted cash flow methodologies using significant unobservable      
inputs. The estimated fair value is determined using current market risk-free   
interest rates adding a spread to reflect the nonperformance risk in the        
liability.                                                                      

Long-term Debt                                                              

The estimated fair value of long-term debt is principally determined using  
market standard valuation methodologies. Valuations are based primarily on      
quoted prices in markets that are not active or using matrix                    

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

pricing that use standard market observable inputs such as quoted prices in     
markets that are not active and observable yields and spreads in the market.    
Instruments valued using discounted cash flow methodologies use standard market 
observable inputs including market yield curve, duration, observable prices and 
spreads for similar publicly traded or privately traded issues.                 

Capital leases, which are not required to be disclosed at estimated fair    
value, are excluded from the preceding tables.                                  

Other Liabilities                                                           

Other liabilities consist primarily of interest and dividends payable,      
amounts due for securities purchased but not yet settled, funds withheld        
amounts payable, which are contractually withheld by the Company in accordance  
with the terms of the reinsurance agreements, and amounts payable under certain 
ceded and assumed reinsurance agreements, which are recorded using the deposit  
method of accounting. The Company evaluates the specific terms, facts and       
circumstances of each instrument to determine the appropriate estimated fair    
values, which are not materially different from the carrying values, with the   
exception of certain deposit type reinsurance payables. For such payables, the  
estimated fair value is determined as the present value of expected future cash 
flows, which are discounted using an interest rate determined to reflect the    
appropriate credit standing of the assuming counterparty.                       

Separate Account Liabilities                                                

 Separate account liabilities included in the preceding tables represent those
balances due to policyholders under contracts that are classified as investment 
contracts.                                                                      

Separate account liabilities classified as investment contracts primarily   
represent variable annuities with no significant mortality risk to the Company  
such that the death benefit is equal to the account balance, funding agreements 
related to group life contracts and certain contracts that provide for benefit  
funding.                                                                        

Since separate account liabilities are fully funded by cash flows from the  
separate account assets which are recognized at estimated fair value as         
described in the section "-- Recurring Fair Value Measurements," the value of   
those assets approximates the estimated fair value of the related separate      
account liabilities. The valuation techniques and inputs for separate account   
liabilities are similar to those described for separate account assets.         

Mortgage Loan Commitments and Commitments to Fund Bank Credit Facilities,     
Bridge Loans and Private Corporate Bond Investments                           

 The estimated fair values for mortgage loan commitments that will be held for
investment and commitments to fund bank credit facilities, bridge loans and     
private corporate bonds that will be held for investment reflected in the above 
tables represent the difference between the discounted expected future cash     
flows using interest rates that incorporate current credit risk for similar     
instruments on the reporting date and the principal amounts of the commitments. 

11. Goodwill                                                                    

Goodwill, which is included in other assets, is the excess of cost over the 
estimated fair value of net assets acquired. Goodwill is not amortized but is   
tested for impairment at least annually or more frequently if events or         

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

circumstances, such as adverse changes in the business climate, indicate that   
there may be justification for conducting an interim test. Step 1 of the        
goodwill impairment process requires a comparison of the fair value of a        
reporting unit to its carrying value. In performing the Company's goodwill      
impairment tests, the estimated fair values of the reporting units are first    
determined using a market multiple valuation approach. When further             
corroboration is required, the Company uses a discounted cash flow valuation    
approach. For reporting units which are particularly sensitive to market        
assumptions, such as the Retail Annuities and Life & Other reporting units, the 
Company may use additional valuation methodologies to estimate the reporting    
units' fair values.                                                             

 The market multiple valuation approach utilizes market multiples of companies
with similar businesses and the projected operating earnings of the reporting   
unit. The discounted cash flow valuation approach requires judgments about      
revenues, operating earnings projections, capital market assumptions and        
discount rates. The key inputs, judgments and assumptions necessary in          
determining estimated fair value of the reporting units include projected       
operating earnings, current book value, the level of economic capital required  
to support the mix of business, long-term growth rates, comparative market      
multiples, the account value of in-force business, projections of new and       
renewal business, as well as margins on such business, the level of interest    
rates, credit spreads, equity market levels, and the discount rate that the     
Company believes is appropriate for the respective reporting unit. The          
estimated fair values of the Retail Annuities and Life & Other reporting units  
are particularly sensitive to equity market levels.                             

The valuation methodologies utilized are subject to key judgments and       
assumptions that are sensitive to change. Estimates of fair value are           
inherently uncertain and represent only management's reasonable expectation     
regarding future developments. These estimates and the judgments and            
assumptions upon which the estimates are based will, in all likelihood, differ  
in some respects from actual future results. Declines in the estimated fair     
value of the Company's reporting units could result in goodwill impairments in  
future periods which could materially adversely affect the Company's results of 
operations or financial position.                                               

A discontinued cash flow valuation was performed for the Retail Annuities   
reporting unit that resulted in a fair value of the reporting unit less than    
the carrying value, indicating a potential for goodwill impairment. The growing 
concern regarding an extended period of low interest rates was reflected in the 
fair value estimate, particularly on the returns a market buyer would assume on 
the fixed income portion of separate account annuity products. While performing 
the Step 2 analysis, which compares the implied fair value of goodwill with the 
carrying value of that goodwill in the reporting unit to calculate the amount   
of goodwill impairment, the Company considered similar analysis performed on    
the Retail Annuities reporting unit of its parent company, MetLife, Inc., and   
determined that all of the recorded goodwill associated with the Company's      
Retail Annuities reporting unit was not recoverable. A non-cash charge of $10   
million, which had no impact on income taxes, was recorded for the impairment   
of the entire goodwill balance in other expenses in the consolidated statements 
of operations for the year ended December 31, 2012.                             

In addition, the Company performed its annual goodwill impairment tests of  
its other reporting units and concluded that the fair values of all such        
reporting units were in excess of their carrying values and, therefore, their   
goodwill was not impaired.                                                      

 As discussed in Note 2, during 2012, the Company reorganized its business. In
connection with this reorganization, $105 million of goodwill at December 31,   
2009 was reallocated to the Retail segment and Group,                           

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Notes to the Consolidated Financial Statements -- (Continued) 

Voluntary & Worksite Benefits segment in the amounts of $37 million and $68     
million, respectively. The reorganization had no impact on goodwill for the     
Corporate Benefit Funding segment and Corporate & Other. There were no          
acquisitions, dispositions or impairments of goodwill for both the years ended  
December 31, 2011 and 2010. Information regarding goodwill by segment, as well  
as Corporate & Other, was as follows:                                           

                                                                [Download Table]

                                          Group,                                
                                        Voluntary & Corporate                   
                                         Worksite    Benefit  Corporate         
                               Retail    Benefits    Funding   & Other   Total  
                              --------- ----------- --------- --------- --------
                                                (In millions)                   
                                                                                
Balance at December 31, 2011                                                    
Goodwill..................... $      37   $    68    $     2   $     4  $    111
Accumulated impairment.......        --        --         --        --        --
                              ---------   -------    -------   -------  --------
 Total goodwill, net......... $      37   $    68    $     2   $     4  $    111

Impairments.................. $    (10)   $    --    $    --   $    --  $   (10)

Balance at December 31, 2012                                                    
Goodwill.....................        37        68          2         4       111
Accumulated impairment.......      (10)        --         --        --      (10)
                              ---------   -------    -------   -------  --------
Total goodwill, net.......... $      27   $    68    $     2   $     4  $    101
                              =========   =======    =======   =======  ========

12. Long-term and Short-term Debt                                               

Long-term and short-term debt outstanding was as follows:                   

                                                                [Download Table]

                                  Interest Rates (1)                                
                                ----------------------                              
                                                                     December 31,   
                                              Weighted             -----------------
                                    Range     Average   Maturity     2012     2011  
                                ------------- -------- ----------- -------- --------
                                                                     (In millions)  
                                                                                    
Surplus notes -- affiliated.... 3.00% - 7.38%  6.52%   2014 - 2037 $  1,099 $  1,099
Surplus notes.................. 7.63% - 7.88%  7.84%   2015 - 2025      700      700
Mortgage loans -- affiliated... 2.17% - 7.26%  5.40%   2015 - 2020      306      307
Senior notes -- affiliated (2). 1.03% - 3.09%  2.23%   2021 - 2022       80       --
Other notes.................... 0.22% - 8.00%  1.72%   2016 - 2027       91       --
Capital lease obligations......                                          25       26
                                                                   -------- --------
Total long-term debt (3).......                                       2,301    2,132
Total short-term debt..........                                         100      101
                                                                   -------- --------
 Total.........................                                    $  2,401 $  2,233
                                                                   ======== ========

--------                                                                        

(1)Range of interest rates and weighted average interest rates are for the year 
ended December 31, 2012.                                                  

(2)During 2012, a consolidated VIE issued $80 million of long-term debt to an   
affiliate. See Note 8.                                                    

(3)Excludes $44 million and $116 million at December 31, 2012 and 2011,         
respectively, of long-term debt relating to CSEs. See Note 8.             

The aggregate maturities of long-term debt at December 31, 2012 for the next
five years and thereafter are $1 million in 2013, $220 million in 2014,         
$502 million in 2015, $5 million in 2016, $5 million in 2017 and $1.6 billion   
thereafter.                                                                     

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

Capital lease obligations and mortgage loans are collateralized and rank    
highest in priority, followed by unsecured senior debt which consists of senior 
notes and other notes. Payments of interest and principal on the Company's      
surplus notes are subordinate to all other obligations. Payments of interest    
and principal on surplus notes may be made only with the prior approval of the  
insurance department of the state of domicile.                                  

Certain of the Company's debt instruments, credit facilities and committed  
facilities contain various administrative, reporting, legal and financial       
covenants. The Company believes it was in compliance with all such covenants at 
December 31, 2012.                                                              

Surplus Notes -- Affiliated                                                   

In April 2011, Metropolitan Life Insurance Company repaid in cash a         
$775 million surplus note issued to MetLife, Inc., with an original maturity of 
December 2011. The early redemption was approved by the Superintendent.         

In December 2010, Metropolitan Life Insurance Company repaid in cash a      
$300 million surplus note issued to MetLife, Inc. with an original maturity of  
2011. The early redemption was approved by the Superintendent.                  

In November 2010, Metropolitan Life Insurance Company issued a $188 million 
surplus note to MetLife Mexico, S.A., an affiliate, maturing in 2015 with an    
interest rate of 3.0%.                                                          

Capital Notes -- Affiliated                                                   

In December 2011, Metropolitan Life Insurance Company repaid in cash        
$500 million of capital notes issued to MetLife, Inc.                           

Mortgage Loans -- Affiliated                                                  

 In December 2011, a wholly-owned real estate subsidiary of the Company issued
a note for $110 million to MICC. This affiliated mortgage loan is secured by    
real estate held by the Company for investment. This note bears interest at a   
rate of one-month LIBOR plus 1.95%, which is payable quarterly through maturity 
in 2015.                                                                        

Short-term Debt                                                               

Short-term debt with original maturities of one year or less consisted      
entirely of commercial paper. During the years ended December 31, 2012, 2011    
and 2010, the weighted average interest rate on short-term debt was 0.17%,      
0.16% and 0.21%, respectively. During the years ended December 31, 2012, 2011   
and 2010, the average daily balance of short-term debt was $119 million,        
$102 million and $311 million, respectively, and the average days outstanding   
was 40 days, 44 days and 29 days, respectively.                                 

Interest Expense                                                              

Interest expense related to the Company's indebtedness included in other    
expenses was $148 million, $185 million and $202 million for the years ended    
December 31, 2012, 2011 and 2010, respectively. These amounts include           
$89 million, $125 million and $143 million of interest expense related to       
affiliated debt for the years ended December 31, 2012, 2011 and 2010,           
respectively. Such amounts do not include interest expense on long-term debt    
related to CSEs. See Note 8.                                                    

Credit and Committed Facilities                                               

The Company maintains unsecured credit facilities and a committed facility, 
which aggregated $4.0 billion and $500 million, respectively, at December 31,   
2012. When drawn upon, these facilities bear interest at varying rates in       
accordance with the respective agreements.                                      

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Credit Facilities                                                           

The unsecured credit facilities are used for general corporate purposes, to 
support the borrowers' commercial paper program and for the issuance of letters 
of credit. Total fees expensed by the Company associated with these credit      
facilities were $3 million, $6 million and $8 million for the years ended       
December 31, 2012, 2011 and 2010, respectively, and are included in other       
expenses. Information on these credit facilities at December 31, 2012 was as    
follows:                                                                        

                                                        [Enlarge/Download Table]

                                                                       Letter of                        
                                                                        Credit                 Unused   
Borrower(s)                                  Expiration     Capacity Issuances (1) Drawdowns Commitments
---------------------------------------- ------------------ -------- ------------- --------- -----------
                                                                           (In millions)                
                                                                                                        
MetLife, Inc. and MetLife Funding, Inc.. September 2017 (2) $  1,000   $    365     $    --   $    635  
MetLife, Inc. and MetLife Funding, Inc.. August 2016           3,000      2,203          --        797  
                                                            --------   --------     -------   --------  
 Total..................................                    $  4,000   $  2,568     $    --   $  1,432  
                                                            ========   ========     =======   ========  

--------                                                                        

(1)MetLife, Inc. and MetLife Funding, Inc. are severally liable for their       
respective obligations under such unsecured credit facilities. MetLife    
 Funding, Inc. is not an applicant under letters of credit outstanding as of
December 31, 2012 and is not responsible for any reimbursement obligations
under such letters of credit.                                             
(2)In September 2012, MetLife, Inc. and MetLife Funding, Inc. entered into a    
$1.0 billion five-year credit agreement which amended and restated the    
three-year agreement dated October 2010. All borrowings under the 2012    
five-year credit agreement must be repaid by September 2017, except that  
letters of credit outstanding on that date may remain outstanding until no
 later than September 2018. The Company incurred costs of $2 million related
  to the amended and restated credit facility, which have been capitalized and
included in other assets. These costs will be amortized over the remaining
term of the amended and restated credit facility.                         

Committed Facility                                                          

The committed facility is used for collateral for certain of the Company's  
affiliated reinsurance liabilities. Total fees expensed by the Company          
associated with this committed facility were $3 million, $3 million and         
$4 million for the years ended December 31, 2012, 2011 and 2010, respectively,  
and are included in other expenses. Information on the committed facility at    
December 31, 2012 was as follows:                                               

                                                        [Enlarge/Download Table]

                                                                 Letter of                        
                                                                  Credit                 Unused   
Account Party/Borrower(s)                   Expiration Capacity  Issuances   Drawdowns Commitments
------------------------------------------- ---------- -------- ---------    --------- -----------
                                                                (In millions)                     
                                                                                                  
Exeter Reassurance Company, Ltd., MetLife,                                                        
  Inc. & Missouri Reinsurance, Inc......... June 2016   $  500  $    490 (1)  $    --   $      10 

--------                                                                        

(1)Missouri Reinsurance, Inc., a subsidiary of Metropolitan Life Insurance      
Company, had outstanding $390 million in letters of credit at December 31,
2012.                                                                     

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

13. Equity                                                                      

Capital Contributions                                                           

During the year ended December 31, 2011, United MetLife Insurance Company   
Limited ("United"), an insurance underwriting joint venture of the Company      
accounted for under the equity method, merged with Sino-US MetLife Insurance    
Company Limited ("Sino"), another insurance underwriting joint venture of an    
affiliate of the Company. The Company's ownership interest in the merged        
entity, Sino-US United MetLife Insurance Company Limited ("Sino-United") was    
determined based on its contributed capital and share of undistributed earnings 
of United compared to the contributed capital and undistributed earnings of all 
other owners of United and Sino. Since both of the joint ventures were under    
common ownership both prior to and subsequent to the merger, the Company's      
investment in Sino-United is based on the carrying value of its investment in   
United. Pursuant to the merger, the Company entered into an agreement whereby   
the affiliate will pay an amount to the Company based on the relative fair      
values of their respective investments in Sino-United. Accordingly, upon        
completion of the estimation of fair value, $47 million, representing a capital 
contribution, was received during the year ended December 31, 2011. The         
Company's investment in Sino-United is accounted for under the equity method    
and is included in other invested assets.                                       

During each of the years ended December 31, 2012, 2011 and 2010, MetLife,   
Inc. contributed $3 million in the form of payment of line of credit fees on    
the Company's behalf.                                                           

Stock-Based Compensation Plans                                                  

Overview                                                                      

The stock-based compensation expense recognized by the Company is related to
awards payable in shares of MetLife, Inc. common stock ("Shares"), or options   
to purchase MetLife, Inc. common stock. The Company does not issue any awards   
payable in its common stock or options to purchase its common stock.            

Description of Plans for Employees and Agents -- General Terms                

The MetLife, Inc. 2000 Stock Incentive Plan, as amended (the "2000 Stock    
Plan") authorized the granting of awards to employees and agents in the form of 
options ("Stock Options") to buy Shares that either qualify as incentive Stock  
Options under Section 422A of the Code or are non-qualified. By December 31,    
2009 all awards under the 2000 Stock Plan had either vested or been forfeited.  
No awards have been made under the 2000 Stock Plan since 2005.                  

 Under the MetLife, Inc. 2005 Stock and Incentive Compensation Plan (the "2005
Stock Plan"), awards granted to employees and agents may be in the form of      
Stock Options, Stock Appreciation Rights, Restricted Stock or Restricted Stock  
Units, Performance Shares or Performance Share Units, Cash-Based Awards and     
Stock-Based Awards (each as defined in the 2005 Stock Plan with reference to    
Shares).                                                                        

The aggregate number of shares authorized for issuance under the 2005 Stock 
Plan is 68,000,000, plus those shares available but not utilized under the 2000 
Stock Plan and those shares utilized under the 2000 Stock Plan that are         
recovered due to forfeiture of Stock Options. Each share issued under the 2005  
Stock Plan in connection with a Stock Option or Stock Appreciation Right        
reduces the number of Shares remaining for issuance under that plan by one, and 
each Share issued under the 2005 Stock Plan in connection with awards other     
than Stock                                                                      

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Options or Stock Appreciation Rights reduces the number of Shares remaining for 
issuance under that plan by 1.179 Shares. At December 31, 2012, the aggregate   
number of Shares remaining available for issuance pursuant to the 2005 Stock    
Plan was 24,715,318. Stock Option exercises and other awards settled in Shares  
are satisfied through the issuance of Shares held in treasury by MetLife, Inc.  
or by the issuance of new Shares.                                               

Of MetLife, Inc.'s stock-based compensation expense for the years ended     
December 31, 2012, 2011 and 2010, 76%, 70% and 79%, respectively, was allocated 
to the Company. No expense amounts related to stock-based awards to MetLife,    
Inc. non-management directors were allocated to the Company. This allocation    
represents substantially all stock-based compensation recognized in the         
Company's consolidated results of operations. Accordingly, this discussion      
addresses MetLife, Inc.'s practices for recognizing expense for awards under    
the 2000 Stock Plan and 2005 Stock Plan (together, the "Incentive Plans").      
References to compensation expense in this note refer to the Company's          
allocated portion of that expense. All other references relevant to awards      
under the Incentive Plans pertain to all awards under those plans.              

Compensation expense related to awards under the 2005 Stock Plan is         
recognized based on the number of awards expected to vest, which represents the 
awards granted less expected forfeitures over the life of the award, as         
estimated at the date of grant. Unless a material deviation from the assumed    
forfeiture rate is observed during the term in which the awards are expensed,   
any adjustment necessary to reflect differences in actual experience is         
recognized in the period the award becomes payable or exercisable.              

Compensation expense related to awards under the 2005 Stock Plan is         
principally related to the issuance of Stock Options, Performance Shares and    
Restricted Stock Units. The majority of the awards granted by MetLife, Inc.     
each year under the 2005 Stock Plan are made in the first quarter of each year. 

Compensation Expense Related to Stock-Based Compensation                    

The components of compensation expense related to stock-based compensation  
were as follows:                                                                

                                                                [Download Table]

                            Years Ended December 31, 
                            -------------------------
                              2012     2011    2010  
                            -------- -------- -------
                                  (In millions)      
                                                     
Stock Options.............. $     52 $     48 $    39
Performance Shares (1).....       53       37      19
Restricted Stock Units.....       22       15       9
                            -------- -------- -------
Total compensation expense. $    127 $    100 $    67
                            ======== ======== =======
Income tax benefit......... $     44 $     35 $    23
                            ======== ======== =======

--------                                                                        

(1)Performance Shares expected to vest and the related compensation expenses    
may be further adjusted by the performance factor most likely to be       
 achieved, as estimated by management, at the end of the performance period.

At December 31, 2012, the Company's allocated portion of expense for Stock  
Options, Performance Shares and Restricted Stock Units was 84%, 66% and 83%,    
respectively.                                                                   

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

The following table presents MetLife, Inc.'s total unrecognized compensation
expense related to stock-based compensation and the expected weighted average   
period over which these expenses will be recognized at:                         

                                                                [Download Table]

                              December 31, 2012       
                        ------------------------------
                                      Weighted Average
                           Expense         Period     
                        ------------- ----------------
                        (In millions)     (Years)     
                                                      
Stock Options..........  $        56        1.74      
Performance Shares.....  $        52        1.65      
Restricted Stock Units.  $        28        1.73      

Equity Awards                                                                 

Stock Options                                                               

 Stock Options are the contingent right of award holders to purchase Shares at
a stated price for a limited time. All Stock Options have an exercise price     
equal to the closing price of a Share reported on the New York Stock Exchange   
on the date of grant, and have a maximum term of 10 years. The vast majority of 
Stock Options granted have become or will become exercisable at a rate of       
one-third of each award on each of the first three anniversaries of the grant   
date. Other Stock Options have become or will become exercisable on the third   
anniversary of the grant date. Vesting is subject to continued service, except  
for employees who are retirement eligible and in certain other limited          
circumstances.                                                                  

A summary of the activity related to Stock Options for the year ended       
December 31, 2012 was as follows:                                               

                                                        [Enlarge/Download Table]

                                                                                     Weighted                
                                                                                      Average                
                                                                                     Remaining    Aggregate  
                                                      Shares Under Weighted Average Contractual   Intrinsic  
                                                         Option     Exercise Price     Term       Value (1)  
                                                      ------------ ---------------- ----------- -------------
                                                                                      (Years)   (In millions)
                                                                                                             
Outstanding at January 1, 2012.......................  34,713,526     $    40.22       5.35         $      --
Granted..............................................   6,247,050     $    37.91                             
Exercised............................................ (3,817,301)     $    28.44                             
Expired.............................................. (1,017,994)     $    47.35                             
Forfeited............................................   (972,210)     $    40.23                             
                                                      ------------                                           
Outstanding at December 31, 2012.....................  35,153,071     $    40.89       5.50         $      51
                                                      ============ ================ =========== =============
Expected to vest at a future date as of December 31,                                                         
  2012...............................................  34,684,396     $    40.94       5.41         $      51
                                                      ============ ================ =========== =============
Exercisable at December 31, 2012.....................  24,530,711     $    41.36        4.16        $      50
                                                      ============ ================ =========== =============

--------                                                                        

(1)The aggregate intrinsic value was computed using the closing Share price on  
 December 31, 2012 of $32.94 and December 30, 2011 of $31.18, as applicable.

The fair value of Stock Options is estimated on the date of grant using a   
binomial lattice model. Significant assumptions used in MetLife, Inc.'s         
binomial lattice model, which are further described below, include: expected    
volatility of the price of Shares; risk-free rate of return; expected dividend  
yield on Shares; exercise multiple; and the post-vesting termination rate.      

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Expected volatility is based upon an analysis of historical prices of Shares
and call options on Shares traded on the open market. MetLife, Inc. uses a      
weighted-average of the implied volatility for publicly-traded call options     
with the longest remaining maturity nearest to the money as of each valuation   
date and the historical volatility, calculated using monthly closing prices of  
Shares. MetLife, Inc. chose a monthly measurement interval for historical       
volatility as it believes this better depicts the nature of employee option     
exercise decisions being based on longer-term trends in the price of the        
underlying Shares rather than on daily price movements.                         

The binomial lattice model used by MetLife, Inc. incorporates different     
risk-free rates based on the imputed forward rates for U.S. Treasury Strips for 
each year over the contractual term of the option. The table below presents the 
full range of rates that were used for options granted during the respective    
periods.                                                                        

Dividend yield is determined based on historical dividend distributions     
compared to the price of the underlying Shares as of the valuation date and     
held constant over the life of the Stock Option.                                

 The binomial lattice model used by MetLife, Inc. incorporates the contractual
term of the Stock Options and then factors in expected exercise behavior and a  
post-vesting termination rate, or the rate at which vested options are          
exercised or expire prematurely due to termination of employment, to derive an  
expected life. Exercise behavior in the binomial lattice model used by MetLife, 
Inc. is expressed using an exercise multiple, which reflects the ratio of       
exercise price to the strike price of Stock Options granted at which holders of 
the Stock Options are expected to exercise. The exercise multiple is derived    
from actual historical exercise activity. The post-vesting termination rate is  
determined from actual historical exercise experience and expiration activity   
under the Incentive Plans.                                                      

The following table presents the weighted average assumptions, with the     
exception of risk-free rate, which is expressed as a range, used to determine   
the fair value of Stock Options issued:                                         

                                                        [Enlarge/Download Table]

                                                               Years Ended December 31,      
                                                          -----------------------------------
                                                             2012        2011        2010    
                                                          ----------- ----------- -----------
                                                                                             
Dividend yield...........................................    1.95%       1.65%       2.11%   
Risk-free rate of return................................. 0.21%-4.17% 0.29%-5.51% 0.35%-5.88%
Expected volatility......................................   35.59%      32.64%      34.41%   
Exercise multiple........................................    1.58        1.69        1.75    
Post-vesting termination rate............................    3.14%       3.36%       3.64%   
Contractual term (years).................................     10          10          10     
Expected life (years)....................................      7           7           7     
Weighted average exercise price of stock options granted.   $37.91      $45.16      $35.06   
Weighted average fair value of stock options granted.....   $11.33      $14.27      $11.29   

MetLife, Inc. deducts 35% of the compensation amount of a Stock Option from 
its income on its tax return. The compensation amount is the price of shares on 
the date the Stock Option is exercised less the exercise price of the Stock     
Option. This tax benefit is allocated to the subsidiary of MetLife, Inc. that   
is the current or former employer of the associate, or is or was the principal  
for the non-employee insurance agent, who exercised the Stock Option.           

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

The following table presents a summary of Stock Option exercise activity:   

                                                                [Download Table]

                                                          Years Ended December 31,
                                                          ------------------------
                                                            2012    2011    2010  
-                                                         -------- ------- -------
                                                               (In millions)      
                                                                                  
Total intrinsic value of stock options exercised......... $     29 $    41 $    22
Cash received from exercise of stock options............. $    109 $    88 $    52
Income tax benefit realized from stock options exercised. $     10 $    13 $     8

Performance Shares                                                            

Performance Shares are units that, if they vest, are multiplied by a        
performance factor to produce a number of final Performance Shares which are    
payable in Shares. Performance Shares are accounted for as equity awards, but   
are not credited with dividend-equivalents for actual dividends paid on Shares  
during the performance period. Accordingly, the estimated fair value of         
Performance Shares is based upon the closing price of a Share on the date of    
grant, reduced by the present value of estimated dividends to be paid on that   
stock during the performance period.                                            

Performance Share awards normally vest in their entirety at the end of the  
three-year performance period. Vesting is subject to continued service, except  
for employees who are retirement eligible and in certain other limited          
circumstances. Vested Performance Shares are multiplied by a performance factor 
of 0.0 to 2.0 based on MetLife, Inc.'s adjusted income, total shareholder       
return, and performance in change in annual net operating earnings and total    
shareholder return compared to the performance of its competitors, each         
measured with respect to the applicable three-year performance period or        
portions thereof. The performance factor was 1.13 for the January 1, 2009 --    
December 31, 2011 performance period.                                           

Restricted Stock Units                                                        

Restricted Stock Units are units that, if they vest, are payable in an equal
number of Shares. Restricted Stock Units are accounted for as equity awards,    
but are not credited with dividend-equivalents for actual dividends paid on     
Shares during the performance period. Accordingly, the estimated fair value of  
Restricted Stock Units is based upon the closing price of Shares on the date of 
grant, reduced by the present value of estimated dividends to be paid on that   
stock during the performance period.                                            

The vast majority of Restricted Stock Units normally vest in their entirety 
on the third anniversary of their grant date. Other Restricted Stock Units      
normally vest in their entirety on the fifth anniversary of their grant date.   
Vesting is subject to continued service, except for employees who are           
retirement eligible and in certain other limited circumstances.                 

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

The following table presents a summary of Performance Share and Restricted  
Stock Unit activity for the year ended December 31, 2012:                       

                                                        [Enlarge/Download Table]

                                              Performance Shares        Restricted Stock Units  
                                         ---------------------------- --------------------------
                                                     Weighted Average           Weighted Average
                                                        Grant Date                 Grant Date   
                                           Shares       Fair Value      Units      Fair Value   
                                         ----------- ---------------- --------- ----------------
                                                                                                
Outstanding at January 1, 2012..........   5,024,094    $    31.50    1,562,849    $    34.74   
Granted.................................   2,042,133    $    35.38      971,304    $    35.39   
Forfeited...............................   (452,590)    $    37.36    (171,475)    $    37.62   
Payable (1)............................. (1,791,609)    $    20.71    (282,530)    $    21.88   
                                         -----------                  ---------                 
Outstanding at December 31, 2012........   4,822,028    $    36.93    2,080,148    $    36.55   
                                         =========== ================ ========= ================
Expected to vest at a future date as of                                                         
  December 31, 2012.....................   4,817,941    $    36.98    2,080,148    $    36.55   
                                         =========== ================ ========= ================

--------                                                                        

(1)Includes both Shares paid and Shares deferred for later payment.             

 Performance Share amounts above represent aggregate initial target awards and
do not reflect potential increases or decreases resulting from the performance  
factor determined after the end of the respective performance periods. At       
December 31, 2012, the three year performance period for the 2010 Performance   
Share grants was completed, but the performance factor had not yet been         
calculated. Included in the immediately preceding table are 1,347,025           
outstanding Performance Shares to which the 2010-2012 performance factor will   
be applied. The factor will be determined in the second quarter of 2013.        

Statutory Equity and Income                                                     

Each U.S. insurance company's state of domicile imposes risk-based capital  
("RBC") requirements that were developed by the National Association of         
Insurance Commissioners ("NAIC"). Regulatory compliance is determined by a      
ratio of a company's total adjusted capital, calculated in the manner           
prescribed by the NAIC ("TAC") to its authorized control level RBC, calculated  
in the manner prescribed by the NAIC ("ACL RBC"). Companies below specific      
trigger points or ratios are classified within certain levels, each of which    
requires specified corrective action. The minimum level of TAC before           
corrective action commences is twice ACL RBC ("Company Action RBC"). TAC for    
Metropolitan Life Insurance Company and each of its insurance subsidiaries was  
in excess of four times Company Action RBC for all periods presented.           

Metropolitan Life Insurance Company and its insurance subsidiaries prepare  
statutory-basis financial statements in accordance with statutory accounting    
practices prescribed or permitted by the insurance department of their          
respective state of domicile. The NAIC has adopted the Codification of          
Statutory Accounting Principles ("Statutory Codification"). Statutory           
Codification is intended to standardize regulatory accounting and reporting to  
state insurance departments. However, statutory accounting principles continue  
to be established by individual state laws and permitted practices.             
Modifications by the various state insurance departments may impact the effect  
of Statutory Codification on the statutory capital and surplus of Metropolitan  
Life Insurance Company and its insurance subsidiaries.                          

 Statutory accounting principles differ from GAAP primarily by charging policy
acquisition costs to expense as incurred, establishing future policy benefit    
liabilities using different actuarial assumptions, reporting surplus notes as   
surplus instead of debt, reporting of reinsurance agreements and valuing        
securities on a different basis.                                                

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

In addition, certain assets are not admitted under statutory accounting     
principles and are charged directly to surplus. The most significant assets not 
admitted by the Company are net deferred income tax assets resulting from       
temporary differences between statutory accounting principles basis and tax     
basis not expected to reverse and become recoverable within three years.        

Statutory net income (loss) of Metropolitan Life Insurance Company, a New   
York domiciled insurer, was $1.3 billion, $2.0 billion and $2.1 billion for the 
years ended December 31, 2012, 2011 and 2010, respectively. Statutory capital   
and surplus was $14.3 billion and $13.5 billion at December 31, 2012 and 2011,  
respectively. All such amounts are derived from the statutory-basis financial   
statements as filed with the New York State Department of Financial Services.   

 Statutory net income (loss) of New England Life Insurance Company ("NELICO"),
a Massachusetts domiciled insurer, was $79 million, $63 million and $33 million 
for the years ended December 31, 2012, 2011 and 2010, respectively. Statutory   
capital and surplus was $539 million and $529 million at December 31, 2012 and  
2011, respectively. All such amounts are derived from the statutory-basis       
financial statements as filed with the Massachusetts State Division of          
Insurance.                                                                      

Statutory net income (loss) of GALIC, a Missouri domiciled insurer, was     
$19 million, $128 million and $64 million for the years ended December 31,      
2012, 2011 and 2010, respectively. Statutory capital and surplus was            
$873 million and $825 million at December 31, 2012 and 2011, respectively. All  
such amounts are derived from the statutory-basis financial statements as filed 
with the Missouri State Department of Insurance.                                

Dividend Restrictions                                                           

Under New York State Insurance Law, Metropolitan Life Insurance Company is  
permitted, without prior insurance regulatory clearance, to pay stockholder     
dividends to MetLife, Inc. as long as the aggregate amount of all such          
dividends in any calendar year does not exceed the lesser of: (i) 10% of its    
surplus to policyholders as of the end of the immediately preceding calendar    
year; or (ii) its statutory net gain from operations for the immediately        
preceding calendar year (excluding realized capital gains). Metropolitan Life   
Insurance Company will be permitted to pay a dividend to MetLife, Inc. in       
excess of the lesser of such two amounts only if it files notice of its         
intention to declare such a dividend and the amount thereof with the            
Superintendent and the Superintendent either approves the distribution of the   
dividend or does not disapprove the dividend within 30 days of its filing.      
Under New York State Insurance Law, the Superintendent has broad discretion in  
determining whether the financial condition of a stock life insurance company   
would support the payment of such dividends to its stockholders. During the     
year ended December 31, 2012, Metropolitan Life Insurance Company paid a        
dividend of $1.0 billion. During the year ended December 31, 2011, Metropolitan 
Life Insurance Company paid a dividend of $1.3 billion, of which $170 million   
was a transfer of securities. During the year ended December 31, 2010,          
Metropolitan Life Insurance Company paid a dividend of $631 million, of which   
$399 million was a transfer of securities. Based on amounts at December 31,     
2012, Metropolitan Life Insurance Company could pay a stockholder dividend in   
2013 of $1.4 billion without prior approval of the Superintendent.              

Under Massachusetts State Insurance Law, NELICO is permitted, without prior 
insurance regulatory clearance, to pay a stockholder dividend to Metropolitan   
Life Insurance Company as long as the aggregate amount of all such dividends,   
when aggregated with all other dividends paid in the preceding 12 months, does  
not exceed the greater of: (i) 10 % of its surplus to policyholders at the end  
of the immediately preceding calendar year; or (ii) its statutory net gain from 
operations for the immediately preceding calendar year. NELICO will be          
permitted to pay a dividend to Metropolitan Life Insurance Company in excess of 
the greater of such two                                                         

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

amounts only if it files notice of the declaration of such a dividend and the   
amount thereof with the Massachusetts Commissioner of Insurance (the            
"Massachusetts Commissioner") and the Massachusetts Commissioner either         
approves the distribution of the dividend or does not disapprove the            
distribution within 30 days of its filing. In addition, any dividend that       
exceeds unassigned funds (surplus) as of the last filed annual statutory        
statement requires insurance regulatory approval. Under Massachusetts State     
Insurance Law, the Massachusetts Commissioner has broad discretion in           
determining whether the financial condition of a stock life insurance company   
would support the payment of such dividends to its stockholders. During the     
years ended December 31, 2012, 2011 and 2010, NELICO paid a dividend of         
$46 million, $107 million and $84 million, respectively. Based on amounts at    
December 31, 2012, NELICO could pay a stockholder dividend in 2013 of           
$77 million without prior approval of the Massachusetts Commissioner.           

Under Missouri State Insurance Law, GALIC is permitted, without prior       
insurance regulatory clearance, to pay a stockholder dividend to Metropolitan   
Life Insurance Company as long as the amount of the dividend when aggregated    
with all other dividends in the preceding 12 months does not exceed the greater 
of: (i) 10% of its surplus to policyholders as of the end of the immediately    
preceding calendar year; or (ii) its statutory net gain from operations for the 
immediately preceding calendar year (excluding net realized capital gains).     
GALIC will be permitted to pay a cash dividend to Metropolitan Life Insurance   
Company in excess of the greater of such two amounts only if it files notice of 
the declaration of such a dividend and the amount thereof with the Missouri     
Director of Insurance (the "Missouri Director") and the Missouri Director       
either approves the distribution of the dividend or does not disapprove the     
distribution within 30 days of its filing. In addition, any dividend that       
exceeds earned surplus (defined by the Company as "unassigned funds (surplus)") 
as of the last filed annual statutory statement requires insurance regulatory   
approval. Under Missouri State Insurance Law, the Missouri Director has broad   
discretion in determining whether the financial condition of a stock life       
insurance company would support the payment of such dividends to its            
stockholders. During the year ended December 31, 2012, GALIC did not pay        
dividends to Metropolitan Life Insurance Company. During the year ended         
December 31, 2011, GALIC paid an extraordinary cash dividend to GenAmerica      
Financial, LLC ("GenAmerica"), its former parent, of $183 million and           
GenAmerica subsequently paid an ordinary dividend to Metropolitan Life          
Insurance Company of $183 million. During the year ended December 31, 2010,     
GALIC paid a dividend to GenAmerica, which was subsequently paid by GenAmerica  
to Metropolitan Life Insurance Company, of $149 million. Based on amounts at    
December 31, 2012, GALIC could pay a stockholder dividend in 2013 of            
$86 million without prior approval of the Missouri Director.                    

For the years ended December 31, 2012, 2011 and 2010, Metropolitan Life     
Insurance Company received dividends from non-insurance subsidiaries of         
$87 million, $518 million and $248 million, respectively.                       

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Notes to the Consolidated Financial Statements -- (Continued) 

Other Comprehensive Income (Loss)                                             

The following table sets forth the balance and changes in AOCI including    
reclassification adjustments required for the years ended December 31, 2012,    
2011 and 2010 in OCI that are included as part of net income for the current    
year that have been reported as a part of OCI in the current or prior year:     

                                                        [Enlarge/Download Table]

                                                                                        Years Ended December 31,    
                                                                                    --------------------------------
                                                                                       2012       2011       2010   
                                                                                    ---------- ---------- ----------
                                                                                             (In millions)          
                                                                                                                    
Holding gains (losses) on investments arising during the year...................... $    4,825 $    9,190 $    7,350
Income tax effect of holding gains (losses)........................................    (1,688)    (3,219)    (2,568)
Reclassification adjustments for recognized holding (gains) losses included in                                      
 current year income...............................................................        120       (45)      (545)
Income tax effect of reclassification adjustments..................................       (42)         16        190
Allocation of holding (gains) losses on investments relating to other policyholder                                  
 amounts...........................................................................    (2,684)    (5,375)    (2,153)
Income tax effect of allocation of holding (gains) losses to other policyholder                                     
 amounts...........................................................................        940      1,883        752
                                                                                    ---------- ---------- ----------
Net unrealized investment gains (losses), net of income tax........................      1,471      2,450      3,026
Foreign currency translation adjustments, net of income tax expense (benefit)                                       
 of ($11) million, $3 million and ($13) million....................................       (19)          3       (16)
Defined benefit plans adjustment, net of income tax expense (benefit)                                               
 of ($268) million, ($249) million and $63 million.................................      (498)      (422)         98
                                                                                    ---------- ---------- ----------
Other comprehensive income (loss), net of income tax...............................        954      2,031      3,108
Other comprehensive income (loss) attributable to noncontrolling interests.........         --         --        (6)
                                                                                    ---------- ---------- ----------
Other comprehensive income (loss) attributable to Metropolitan Life Insurance                                       
 Company, excluding cumulative effect of change in accounting principle............        954      2,031      3,102
Cumulative effect of change in accounting principle, net of income tax expense                                      
 (benefit) of $0, $0 and $6 million (see Note 1)...................................         --         --         10
                                                                                    ---------- ---------- ----------
Other comprehensive income (loss) attributable to Metropolitan Life Insurance                                       
 Company........................................................................... $      954 $    2,031 $    3,112
                                                                                    ========== ========== ==========

14. Other Expenses                                                              

Information on other expenses was as follows:                               

                                                        [Enlarge/Download Table]

                                                              Years Ended December 31,   
                                                            ---------------------------- 
                                                              2012      2011      2010   
                                                            --------  --------  -------- 
                                                                    (In millions)        
                                                                                         
Compensation............................................... $  2,426  $  2,260  $  2,230 
Pension, postretirement and postemployment benefit costs...      285       330       331 
Commissions................................................      769       724       651 
Volume-related costs.......................................      241       196       173 
Affiliated interest costs on ceded and assumed reinsurance.    1,209     1,393     1,386 
Capitalization of DAC......................................     (632)     (724)     (640)
Amortization of DAC and VOBA...............................      991       875       809 
Interest expense on debt and debt issuance costs...........      152       194       217 
Premium taxes, licenses and fees...........................      294       302       288 
Professional services......................................      946       832       743 
Rent, net of sublease income...............................      123       129       147 
Other......................................................     (410)      (40)      (53)
                                                            --------  --------  -------- 
  Total other expenses..................................... $  6,394  $  6,471  $  6,282 
                                                            ========  ========  ======== 

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Notes to the Consolidated Financial Statements -- (Continued) 

Capitalization of DAC and Amortization of DAC and VOBA                          

See Note 1 for information on the retrospective application of the adoption 
of new accounting guidance related to DAC. See Note 5 for additional            
information on DAC and VOBA including impacts of capitalization and             
amortization. See also Note 7 for a description of the DAC amortization impact  
associated with the closed block.                                               

Interest Expense on Debt and Debt Issuance Costs                                

Interest expense on debt and debt issuance costs includes interest expense  
(see Note 12) and interest expense related to CSEs (see Note 8).                

Affiliated Expenses                                                             

Commissions, capitalization of DAC and amortization of DAC and VOBA include 
the impact of affiliated reinsurance transactions. See Notes 6, 12 and 18 for a 
discussion of affiliated expenses included in the table above.                  

Restructuring Charges                                                           

 MetLife, Inc. commenced in 2012 an enterprise-wide strategic initiative. This
global strategy focuses on leveraging MetLife, Inc. and its subsidiaries' scale 
to improve the value they provide to customers and shareholders in order to     
reduce costs, enhance revenues, achieve efficiencies and reinvest in their      
technology, platforms and functionality to improve their current operations and 
develop new capabilities.                                                       

These restructuring charges are included in other expenses. As the expenses 
relate to an enterprise-wide initiative, they are reported in Corporate &       
Other. Estimated restructuring costs may change as management continues to      
execute this enterprise-wide strategic initiative. Such restructuring charges,  
primarily related to severance, which were allocated to the Company were as     
follows:                                                                        

                                                        [Enlarge/Download Table]

                                                                      Year Ended December 31, 2012
                                                                    ------------------------------
                                                                            (In millions)         
                                                                                                  
Balance at January 1,..............................................   $                       --  
Restructuring charges..............................................                          119  
Cash payments......................................................                         (97)  
                                                                    ------------------------------
Balance at December 31,............................................   $                       22  
                                                                    ==============================
Total restructuring charges incurred since inception of initiative.   $                      119  
                                                                    ==============================

Management anticipates further restructuring charges including severance,   
lease and asset impairments, through the year ending December 31, 2014.         
However, such restructuring plans were not sufficiently developed to enable     
MetLife, Inc. to make an estimate of such restructuring charges at December 31, 
2012.                                                                           

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Notes to the Consolidated Financial Statements -- (Continued) 

15. Employee Benefit Plans                                                      

Pension and Other Postretirement Benefit Plans                                  

 The Company sponsors and administers various U.S. qualified and non-qualified
defined benefit pension plans and other postretirement employee benefit plans   
covering employees and sales representatives who meet specified eligibility     
requirements. Pension benefits are provided utilizing either a traditional      
formula or cash balance formula. The traditional formula provides benefits      
based upon years of credited service and final average earnings. The cash       
balance formula utilizes hypothetical or notional accounts which credit         
participants with benefits equal to a percentage of eligible pay, as well as    
earnings credits, determined annually based upon the average annual rate of     
interest on 30-year U.S. Treasury securities, for each account balance. At      
December 31, 2012, the majority of active participants were accruing benefits   
under the cash balance formula; however, approximately 90% of the Company's     
obligations result from benefits calculated with the traditional formula. The   
non-qualified pension plans provide supplemental benefits in excess of limits   
applicable to a qualified plan. Participating affiliates are allocated a        
proportionate share of net expense related to the plans as well as              
contributions made to the plans.                                                

The Company also provides certain postemployment benefits and certain       
postretirement medical and life insurance benefits for retired employees.       
Employees of the Company who were hired prior to 2003 (or, in certain cases,    
rehired during or after 2003) and meet age and service criteria while working   
for the Company may become eligible for these other postretirement benefits, at 
various levels, in accordance with the applicable plans. Virtually all          
retirees, or their beneficiaries, contribute a portion of the total costs of    
postretirement medical benefits. Employees hired after 2003 are not eligible    
for any employer subsidy for postretirement medical benefits. Participating     
affiliates are allocated a proportionate share of net expense and contributions 
related to the postemployment and other postretirement plans.                   

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Notes to the Consolidated Financial Statements -- (Continued) 

Obligations and Funded Status                                                 

                                                        [Enlarge/Download Table]

                                                                                    Other       
                                                              Pension          Postretirement   
                                                           Benefits (1)           Benefits      
                                                       --------------------- -------------------
                                                                     December 31,               
                                                       -----------------------------------------
                                                          2012       2011       2012      2011  
                                                       ---------- ---------- ---------- --------
                                                                     (In millions)              
                                                                                                
Change in benefit obligations:                                                                  
Benefit obligations at January 1,..................... $    7,867 $    6,690 $    2,106 $  1,819
 Service costs........................................        197        165         36       16
 Interest costs.......................................        384        384        103      107
 Plan participants' contributions.....................         --         --         29       28
 Net actuarial (gains) losses.........................        944        897        261      269
 Plan amendments, change in benefits, and other (2)...         --        128         --       --
 Net transfer in (out) of controlled group............         --       (12)         --       --
 Benefits paid........................................      (455)      (385)      (133)    (133)
                                                       ---------- ---------- ---------- --------
Benefit obligations at December 31,...................      8,937      7,867      2,402    2,106
                                                       ---------- ---------- ---------- --------
Change in plan assets:                                                                          
Fair value of plan assets at January 1,...............      6,699      5,976      1,240    1,184
 Actual return on plan assets.........................        695        787        105       81
 Plan amendments, change in benefits, and other (2)...         --        110         --       --
 Plan participants' contributions.....................         --         --         29       28
 Employer contributions...............................        451        223         79       80
 Net transfer in (out) of controlled group............         --       (12)         --       --
 Benefits paid........................................      (455)      (385)      (133)    (133)
                                                       ---------- ---------- ---------- --------
Fair value of plan assets at December 31,.............      7,390      6,699      1,320    1,240
                                                       ---------- ---------- ---------- --------
 Over (under) funded status at December 31,........... $  (1,547) $  (1,168) $  (1,082) $  (866)
                                                       ========== ========== ========== ========
Amounts recognized in the consolidated balance sheets                                           
  consist of:                                                                                   
 Other assets......................................... $       -- $       -- $       -- $     --
 Other liabilities....................................    (1,547)    (1,168)    (1,082)    (866)
                                                       ---------- ---------- ---------- --------
   Net amount recognized.............................. $  (1,547) $  (1,168) $  (1,082) $  (866)
                                                       ========== ========== ========== ========
Accumulated other comprehensive (income) loss:                                                  
 Net actuarial (gains) losses......................... $    2,918 $    2,403 $      796 $    621
 Prior service costs (credit).........................         23         29       (74)    (179)
                                                       ---------- ---------- ---------- --------
   Accumulated other comprehensive (income) loss,                                               
     before income tax................................ $    2,941 $    2,432 $      722 $    442
                                                       ========== ========== ========== ========
Accumulated Benefit Obligation........................ $    8,381 $    7,438        N/A      N/A
                                                       ========== ==========                    

--------                                                                        

(1)Includes non-qualified unfunded plans, for which the aggregate projected     
benefit obligation was $1.1 billion and $997 million at December 31, 2012 
and 2011, respectively.                                                   

(2)During 2011, the Company became the sole sponsor of a certain qualified      
defined pension plan. Accordingly, the Company transitioned its accounting
for that plan from a multiemployer to a single employer plan as of        
December 31, 2011.                                                        

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

 The aggregate pension accumulated benefit obligation and aggregate fair value
of plan assets for pension benefit plans with accumulated benefit obligations   
in excess of plan assets was as follows:                                        

                                                                [Download Table]

                                   December 31,   
                                 -----------------
                                   2012     2011  
                                 -------- --------
                                   (In millions)  
                                                  
Projected benefit obligations... $  1,282 $  1,129
Accumulated benefit obligations. $  1,127 $  1,011
Fair value of plan assets....... $    123 $    110

Information for pension and other postretirement benefit plans with a       
projected benefit obligation in excess of plan assets were as follows:          

                                                                [Download Table]

                                                       Other      
                                    Pension       Postretirement  
                                   Benefits          Benefits     
                               ----------------- -----------------
                                          December 31,            
                               -----------------------------------
                                 2012     2011     2012     2011  
                               -------- -------- -------- --------
                                          (In millions)           
                                                                  
Projected benefit obligations. $  8,937 $  7,867 $  2,402 $  2,106
Fair value of plan assets..... $  7,390 $  6,699 $  1,320 $  1,240

Net Periodic Benefit Costs                                                    

Net periodic benefit cost is determined using management estimates and      
actuarial assumptions to derive service cost, interest cost, and expected       
return on plan assets for a particular year. Net periodic benefit cost also     
includes the applicable amortization of net actuarial gains (losses) and        
amortization of any prior service cost (credit).                                

 The obligations and expenses associated with these plans require an extensive
use of assumptions such as the discount rate, expected rate of return on plan   
assets, rate of future compensation increases, healthcare cost trend rates, as  
well as assumptions regarding participant demographics such as rate and age of  
retirements, withdrawal rates and mortality. Management, in consultation with   
its external consulting actuarial firms, determines these assumptions based     
upon a variety of factors such as historical performance of the plan and its    
assets, currently available market and industry data and expected benefit       
payout streams. The assumptions used may differ materially from actual results  
due to, among other factors, changing market and economic conditions and        
changes in participant demographics. These differences may have a significant   
effect on the Company's consolidated financial statements and liquidity.        

 Net periodic pension costs and net periodic other postretirement benefit plan
costs are comprised of the following:                                           

.  Service Costs -- Service costs are the increase in the projected         
    (expected) PBO resulting from benefits payable to employees of the Company
on service rendered during the current year.                          

.  Interest Costs -- Interest costs are the time value adjustment on the    
projected (expected) PBO at the end of each year.                     

.  Settlement and Curtailment Costs -- The aggregate amount of net gains    
  (losses) recognized in net periodic benefit costs due to settlements and
curtailments. Settlements result from actions that relieve/           

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Metropolitan Life Insurance Company 
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Notes to the Consolidated Financial Statements -- (Continued) 

eliminate the plan's responsibility for benefit obligations or risks  
associated with the obligations or assets used for the settlement.    
 Curtailments result from an event that significantly reduces/eliminates
   plan participants' expected years of future services or benefit accruals.

.  Expected Return on Plan Assets -- Expected return on plan assets is the  
   assumed return earned by the accumulated pension and other postretirement
fund assets in a particular year.                                     

 .  Amortization of Net Actuarial Gains (Losses) -- Actuarial gains and losses
result from differences between the actual experience and the expected
 experience on pension and other postretirement plan assets or projected
(expected) PBO during a particular period. These gains and losses are 
  accumulated and, to the extent they exceed 10% of the greater of the PBO
    or the fair value of plan assets, the excess is amortized into pension and
   other postretirement benefit costs over the expected service years of the
employees.                                                            

.  Amortization of Prior Service Costs (Credit) -- These costs relate to the
   recognition of increases or decreases in pension and other postretirement
   benefit obligation due to amendments in plans or initiation of new plans.
  These increases or decreases in obligation are recognized in AOCI at the
    time of the amendment. These costs are then amortized to pension and other
postretirement benefit costs over the expected service years of the   
employees affected by the change.                                     

 The Company's proportionate share of components of net periodic benefit costs
and other changes in plan assets and benefit obligations recognized in OCI were 
as follows:                                                                     

                                                        [Enlarge/Download Table]

                                                     Pension Benefits     Other Postretirement Benefits
                                                  ----------------------- -----------------------------
                                                             Years Ended December 31,                  
                                                  -----------------------------------------------------
                                                   2012    2011    2010    2012       2011      2010   
                                                  ------- ------- -------  -------    -------   ------ 
                                                                  (In millions)                        
                                                                                                       
Net Periodic Benefit Costs:                                                                            
 Service costs................................... $   190 $   165 $   150 $    30    $    16   $   17  
 Interest costs..................................     374     384     375      95        107      111  
 Settlement and curtailment costs................      --      --       8      --         --       --  
 Expected return on plan assets..................   (448)   (423)   (422)    (75)       (76)     (79)  
 Amortization of net actuarial (gains) losses....     182     189     192      52         42       38  
 Amortization of prior service costs (credit)....       6       3       6    (95)      (108)     (83)  
                                                  ------- ------- -------  -------    -------   ------ 
   Total net periodic benefit costs (credit).....     304     318     309       7       (19)        4  
                                                  ------- ------- -------  -------    -------   ------ 
Other Changes in Plan Assets and Benefit                                                               
  Obligations Recognized in Other                                                                      
  Comprehensive Income (Loss):                                                                         
 Net actuarial (gains) losses....................     705     532      24     232        264       49  
 Prior service costs (credit)....................      --      18      --      --         --     (81)  
 Amortization of net actuarial gains (losses)....   (189)   (189)   (192)    (57)       (42)     (38)  
 Amortization of prior service (costs) credit....     (6)     (3)     (6)     104        108       83  
                                                  ------- ------- -------  -------    -------   ------ 
   Total recognized in other comprehensive                                                             
     income (loss)...............................     510     358   (174)     279        330       13  
                                                  ------- ------- -------  -------    -------   ------ 
     Total recognized in net periodic benefit                                                          
       costs and other comprehensive income                                                            
       (loss).................................... $   814 $   676 $   135 $   286    $   311   $   17  
                                                  ======= ======= =======  =======    =======   ====== 

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

For the year ended December 31, 2012, included within OCI were other changes
in plan assets and benefit obligations associated with pension benefits of $510 
million and other postretirement benefits of $279 million for an aggregate      
reduction in OCI of $789 million before income tax and $512 million, net of     
income tax.                                                                     

The estimated net actuarial (gains) losses and prior service costs (credit) 
for the pension plans and the defined benefit other postretirement benefit      
plans that will be amortized from AOCI into net periodic benefit costs over the 
next year are $216 million and $6 million, and $73 million and ($75) million,   
respectively.                                                                   

 The Medicare Modernization Act of 2003 created various subsidies for sponsors
of retiree drug programs. Two common ways of providing subsidies were the       
Retiree Drug Subsidy ("RDS") and Medicare Part D Prescription Drug Plans        
("PDP"). From 2006 through 2010, the Company applied for and received the RDS   
each year. The RDS program provides the subsidy through cash payments made by   
Medicare to the Company, resulting in smaller net claims paid by the Company. A 
summary of the reduction to the APBO and the related reduction to the           
components of net periodic other postretirement benefits plan costs resulting   
from receipt of the RDS is presented below. As of January 1, 2011, as a result  
of changes made under the Patient Protection and Affordable Care Act of 2010,   
the Company, no longer applies for the RDS. Instead it has joined PDP and will  
indirectly receive Medicare subsidies in the form of smaller gross benefit      
payments for prescription drug coverage.                                        

                                                        [Enlarge/Download Table]

                                                                      December 31, 2010
                                                                    -------------------
                                                                       (In millions)   
                                                                                       
Cumulative reduction in other postretirement benefits obligations:                     
 Balance at January 1,.............................................   $          247   
 Service costs.....................................................                3   
 Interest costs....................................................               16   
 Net actuarial (gains) losses......................................            (255)   
 Expected prescription drug subsidy................................             (11)   
                                                                      --------------   
 Balance at December 31,...........................................   $           --   
                                                                      ==============   

                                                                [Download Table]

                                                                   Year Ended     
                                                                 December 31, 2010
                                                               -------------------
                                                                  (In millions)   
                                                                                  
Reduction in net periodic other postretirement benefit costs:                     
 Service costs................................................   $            3   
 Interest costs...............................................               16   
 Amortization of net actuarial (gains) losses.................               10   
                                                                 --------------   
   Total reduction in net periodic benefit costs..............   $           29   
                                                                 ==============   

The Company did not receive subsidies for the year ended December 31, 2012. 
The Company received subsidies of $3 million and $8 million for the years ended 
December 31, 2011 and 2010, respectively.                                       

Assumptions                                                                     

Assumptions used in determining benefit obligations were as follows:        

                                                        [Enlarge/Download Table]

                                            Pension Benefits     Other Postretirement Benefits
                                         ----------------------  ---------------------------- 
                                                    December 31,                              
                                         ---------------------------------------------------- 
                                            2012        2011     2012           2011          
                                         ----------  ----------  ----           ----          
                                                                                              
Weighted average discount rate..........    4.20%       4.95%    4.20%          4.95%         
Rate of compensation increase........... 3.50%-7.50% 3.50%-7.50%  N/A            N/A          

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Notes to the Consolidated Financial Statements -- (Continued) 

Assumptions used in determining net periodic benefit costs were as follows: 

                                                        [Enlarge/Download Table]

                                            Pension Benefits           Other Postretirement Benefits
                                   ----------------------------------- -----------------------------
                                                       December 31,                                 
                                   ---------------------------------------------------------------- 
                                      2012        2011        2010     2012      2011      2010     
                                   ----------- ----------- -----------   -----   ----      ----     
                                                                                                    
Weighted average discount rate....    4.95%       5.80%       6.25%    4.95%     5.80%     6.25%    
Weighted average expected rate of                                                                   
  return onplan assets............    7.00%       7.25%       8.00%    6.26%     7.25%     7.20%    
Rate of compensation increase..... 3.50%-7.50% 3.50%-7.50% 3.50%-7.50%  N/A       N/A       N/A     

 The weighted average discount rate is determined annually based on the yield,
measured on a yield to worst basis, of a hypothetical portfolio constructed of  
high quality debt instruments available on the valuation date, which would      
provide the necessary future cash flows to pay the aggregate projected benefit  
obligation when due.                                                            

The weighted average expected rate of return on plan assets is based on     
anticipated performance of the various asset sectors in which the plan invests, 
weighted by target allocation percentages. Anticipated future performance is    
based on long-term historical returns of the plan assets by sector, adjusted    
for the Company's long-term expectations on the performance of the markets.     
While the precise expected rate of return derived using this approach will      
fluctuate from year to year, the Company's policy is to hold this long-term     
assumption constant as long as it remains within reasonable tolerance from the  
derived rate.                                                                   

The weighted average expected rate of return on plan assets for use in that 
plan's valuation in 2013 is currently anticipated to be 6.25% for pension       
benefits and 5.75% for other postretirement benefits.                           

The assumed healthcare costs trend rates used in measuring the APBO and net 
periodic benefit costs were as follows:                                         

                                                        [Enlarge/Download Table]

                                                      December 31,                               
                       --------------------------------------------------------------------------
                                        2012                                 2011                
                       -------------------------------------- -----------------------------------
                                                                                                 
                       7.8% in 2013, gradually                7.3% in 2012, gradually            
                       decreasing each year until 2094        decreasing each year until 2083    
                       reaching the ultimate rate of 4.4% for reaching the ultimate rate of 4.3%.
Pre-and Post-Medicare  Pre-Medicare and 4.6% for                                                 
  eligible claims..... Post-Medicare.                                                            

Assumed healthcare costs trend rates may have a significant effect on the   
amounts reported for healthcare plans. A 1% change in assumed healthcare costs  
trend rates would have the following effects as of December 31, 2012:           

                                                        [Enlarge/Download Table]

                                                                        One Percent  One Percent
                                                                         Increase     Decrease  
                                                                       ------------ ------------
                                                                             (In millions)      
                                                                                                
Effect on total of service and interest costs components..............  $       17  $       (14)
Effect of accumulated postretirement benefit obligations..............  $      309  $      (252)

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Plan Assets                                                                   

 The pension and other postretirement benefit plan assets are categorized into
a three-level fair value hierarchy, as defined in Note 10, based upon the       
significant input with the lowest level in its valuation. The following         
summarizes the types of assets included within the three-level fair value       
hierarchy presented below.                                                      

Level 1  This category includes investments in
     fixed maturity securities, equity
      securities, derivative assets, and
     short-term investments which have
      unadjusted quoted market prices in
       active markets for identical assets
and liabilities.            
Level 2  This category includes certain       
        separate accounts that are primarily
  invested in liquid and readily
        marketable securities. The estimated
       fair value of such separate account
       is based upon reported NAV provided
   by fund managers and this value
  represents the amount at which
 transfers into and out of the
   respective separate account are
     effected. These separate accounts
      provide reasonable levels of price
        transparency and can be corroborated
   through observable market data.

 Certain separate accounts are
       invested in investment partnerships
         designated as hedge funds. The values
  for these separate accounts is
       determined monthly based on the NAV
of the underlying hedge fund
        investment. Additionally, such hedge
       funds generally contain lock out or
       other waiting period provisions for
     redemption requests to be filled.
      While the reporting and redemption
        restrictions may limit the frequency
   of trading activity in separate
         accounts invested in hedge funds, the
         reported NAV, and thus the referenced
  value of the separate account,
        provides a reasonable level of price
         transparency that can be corroborated
   through observable market data.

 Directly held investments are
  primarily invested in U.S. and
    foreign government and corporate
securities.                 
Level 3  This category includes separate      
       accounts that are invested in fixed
maturity securities, equity 
     securities, derivative assets and
         other investments that provide little
       or no price transparency due to the
         infrequency with which the underlying
      assets trade and generally require
      additional time to liquidate in an
    orderly manner. Accordingly, the
         values for separate accounts invested
      in these alternative asset classes
      are based on inputs that cannot be
        readily derived from or corroborated
by observable market data.  

The Company provides employees with benefits under various Employee         
Retirement Income Security Act of 1974 ("ERISA") benefit plans. These include   
qualified pension plans, postretirement medical plans and certain retiree life  
insurance coverage. The assets of the Company's qualified pension plans are     
held in insurance group annuity contracts, and the vast majority of the assets  
of the postretirement medical plan and backing the retiree life coverage are    
held in insurance contracts. All of these contracts are issued by the Company   
and the assets under the contracts are held in insurance separate accounts that 
have been established by the Company. The underlying assets of the separate     
accounts are principally comprised of cash and cash equivalents, short term     
investments, fixed maturity and equity securities, derivatives, real estate,    
private equity investments and hedge fund investments.                          

The insurance contract provider engages investment management firms         
("Managers") to serve as sub-advisors for the separate accounts based on the    
specific investment needs and requests identified by the plan fiduciary. These  
Managers have portfolio management discretion over the purchasing and selling   
of securities and other                                                         

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Notes to the Consolidated Financial Statements -- (Continued) 

investment assets pursuant to the respective investment management agreements   
and guidelines established for each insurance separate account. The assets of   
the qualified pension plans and postretirement medical plans (the "Invested     
Plans") are well diversified across multiple asset categories and across a      
number of different Managers, with the intent of minimizing risk concentrations 
within any given asset category or with any given Manager.                      

The Invested Plans, other than those held in participant directed investment
accounts, are managed in accordance with investment policies consistent with    
the longer-term nature of related benefit obligations and within prudent risk   
parameters. Specifically, investment policies are oriented toward               
(i) maximizing the Invested Plan's funded status; (ii) minimizing the           
volatility of the Invested Plan's funded status; (iii) generating asset returns 
that exceed liability increases; and (iv) targeting rates of return in excess   
of a custom benchmark and industry standards over appropriate reference time    
periods. These goals are expected to be met through identifying appropriate and 
diversified asset classes and allocations, ensuring adequate liquidity to pay   
benefits and expenses when due and controlling the costs of administering and   
managing the Invested Plan's investments. Independent investment consultants    
are periodically used to evaluate the investment risk of Invested Plan's assets 
relative to liabilities, analyze the economic and portfolio impact of various   
asset allocations and management strategies and to recommend asset allocations. 

Derivative contracts may be used to reduce investment risk, to manage       
duration and to replicate the risk/return profile of an asset or asset class.   
Derivatives may not be used to leverage a portfolio in any manner, such as to   
magnify exposure to an asset, asset class, interest rates or any other          
financial variable. Derivatives are also prohibited for use in creating         
exposures to securities, currencies, indices or any other financial variable    
that are otherwise restricted.                                                  

 The table below summarizes the actual weighted average allocation of the fair
value of total plan assets by asset class at December 31 for the years          
indicated and the approved target allocation by major asset class at            
December 31, 2012 for the Invested Plans:                                       

                                                        [Enlarge/Download Table]

                                                           Pension             Postretirement Medical   
                                                   -------------------------- --------------------------
                                                            Actual Allocation          Actual Allocation
                                                            -----------------          -----------------
                                                     Target   2012     2011     Target   2012     2011  
                                                   -------- -------  -------  -------- -------  ------- 
                                                                                                        
Asset Class:                                                                                            
Fixed maturity securities (1).....................     75%      69%      61%      70%      63%      62% 
Equity securities (2).............................     12%      21%      24%      30%      37%      37% 
Alternative securities (3)........................     13%      10%      15%       0%      --%       1% 
                                                            -------  -------           -------  ------- 
 Total assets.....................................             100%     100%              100%     100% 
                                                            =======  =======           =======  ======= 
                                                                [Download Table]

                                                      Postretirement Life    
                                                   ------------------------- 
                                                            Actual Allocation
                                                            ---------------- 
                                                     Target    2012     2011 
                                                   -------- --------  -------
                                                                             
Asset Class:                                                                 
Fixed maturity securities (1).....................      0%      -- %      --%
Equity securities (2).............................      0%      -- %      --%
Alternative securities (3)........................    100%      100%     100%
                                                            --------  -------
 Total assets.....................................              100%     100%
                                                            ========  =======

----------                                                                      

(1)Fixed maturity securities include ABS, collateralized mortgage obligations,  
corporate, federal agency, foreign bonds, mortgage-backed securities,     
municipals, preferred stocks and U.S. government bonds. Certain prior year
amounts have been reclassified from alternative securities into fixed     
maturity securities to conform to the current year presentation.          

(2)Equity securities primarily include common stock of U.S. companies.          

(3)Alternative securities primarily include derivative assets, money market     
securities, short-term investments and other investments. Postretirement  
life's target and actual allocation of plan assets are all in short-term  
investments.                                                              

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

The pension and postretirement plan assets measured at estimated fair value 
on a recurring basis were determined as described in "-- Plan Assets." These    
estimated fair values and their corresponding placement in the fair value       
hierarchy are summarized as follows:                                            

                                                        [Enlarge/Download Table]

                                                       December 31, 2012                              
                             ------------------------------------------------------------------------ 
                                      Pension Benefits              Other Postretirement Benefits     
                             -----------------------------------  ------------------------------------
                             Fair Value Measurements at           Fair Value Measurements at          
                               Reporting Date Using                Reporting Date Using               
                             -------------------------            --------------------------          
                                                          Total                                Total  
                                                        Estimated                            Estimated
                                                          Fair                                 Fair   
                             Level 1   Level 2  Level 3   Value   Level 1  Level 2  Level 3    Value  
                             --------  -------- ------- --------- -------  -------  -------  ---------
                                                         (In millions)                                
                                                                                                      
Assets:                                                                                               
Fixed maturity securities:                                                                            
  Corporate................. $     --  $  2,119 $   18  $  2,137  $   --   $  165    $  4    $    169 
  U.S. government bonds.....    1,082       150     --     1,232     175        3      --         178 
  Foreign bonds.............       --       714      7       721      --       51      --          51 
  Federal agencies..........        1       314     --       315      --       26      --          26 
  Municipals................       --       242     --       242      --       70       1          71 
  Other (1).................       --       460      7       467      --       55       3          58 
                             --------  -------- ------  --------  ------   ------    ----    -------- 
   Total fixed maturity                                                                               
     securities.............    1,083     3,999     32     5,114     175      370       8         553 
                             --------  -------- ------  --------  ------   ------    ----    -------- 
Equity securities:                                                                                    
  Common stock - domestic...    1,024        36    129     1,189     249        1      --         250 
  Common stock - foreign....      339        --     --       339      83       --      --          83 
                             --------  -------- ------  --------  ------   ------    ----    -------- 
   Total equity securities..    1,363        36    129     1,528     332        1      --         333 
                             --------  -------- ------  --------  ------   ------    ----    -------- 
Other investments...........       --       110    419       529      --       --      --          -- 
Short-term investments......       --       200     --       200      --      432      --         432 
Money market securities.....        2         9     --        11       1       --      --           1 
Derivative assets...........       --         7      1         8      --        1      --           1 
                             --------  -------- ------  --------  ------   ------    ----    -------- 
   Total assets............. $  2,448  $  4,361 $  581  $  7,390  $  508   $  804    $  8    $  1,320 
                             ========  ======== ======  ========  ======   ======    ====    ======== 

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

                                                        [Enlarge/Download Table]

                                                                   December 31, 2011                              
                                         ------------------------------------------------------------------------ 
                                                  Pension Benefits              Other Postretirement Benefits     
-                                        -----------------------------------  ------------------------------------
                                         Fair Value Measurements at           Fair Value Measurements at          
                                           Reporting Date Using                Reporting Date Using               
-                                        -------------------------            --------------------------          
                                                                      Total                                Total  
                                                                    Estimated                            Estimated
                                                                      Fair                                 Fair   
                                         Level 1   Level 2  Level 3   Value   Level 1  Level 2  Level 3    Value  
                                         --------  -------- ------- --------- -------  -------  -------  ---------
                                                                     (In millions)                                
                                                                                                                  
Assets:                                                                                                           
Fixed maturity securities:                                                                                        
  Corporate............................. $     --  $  1,820 $   30  $  1,850  $   --   $  139    $   4   $    143 
  U.S. government bonds.................      949       176     --     1,125     160        1       --        161 
  Foreign bonds.........................       --       200      5       205      --       13       --         13 
  Federal agencies......................        1       270     --       271      --       29       --         29 
  Municipals............................       --       174     --       174      --       59        1         60 
  Other (1).............................       --       445      2       447      --       84        5         89 
                                         --------  -------- ------  --------  ------   ------    -----   -------- 
   Total fixed maturity securities......      950     3,085     37     4,072     160      325       10        495 
                                         --------  -------- ------  --------  ------   ------    -----   -------- 
Equity securities:                                                                                                
  Common stock - domestic...............    1,082        36    194     1,312     240        2       --        242 
  Common stock - foreign................      271        --     --       271      55       --       --         55 
                                         --------  -------- ------  --------  ------   ------    -----   -------- 
   Total equity securities..............    1,353        36    194     1,583     295        2       --        297 
                                         --------  -------- ------  --------  ------   ------    -----   -------- 
Other investments.......................       --        65    501       566      --       --       --         -- 
Short-term investments..................        4       378     --       382       6      435       --        441 
Money market securities.................        2        --     --         2      --        1       --          1 
Derivative assets.......................       28         9      4        41      --       --        1          1 
Other receivables.......................       --        45     --        45      --        4       --          4 
Securities receivable...................       --         8     --         8      --        1       --          1 
                                         --------  -------- ------  --------  ------   ------    -----   -------- 
   Total assets......................... $  2,337  $  3,626 $  736  $  6,699  $  461   $  768    $  11   $  1,240 
                                         ========  ======== ======  ========  ======   ======    =====   ======== 

----------                                                                      

(1)Other primarily includes mortgage-backed securities, collateralized mortgage 
obligations, and ABS. The prior year amounts have been reclassified into  
fixed maturity securities to conform to the current year presentation.    

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

A rollforward of all pension and other postretirement benefit plan assets   
measured at estimated fair value on a recurring basis using significant         
unobservable (Level 3) inputs was as follows:                                   

                                                        [Enlarge/Download Table]

                                     Fair Value Measurements Using Significant Unobservable Inputs (Level 3)                 
                     --------------------------------------------------------------------------------------------------------
                                            Pension Benefits                              Other Postretirement Benefits      
-                    -------------------------------------------------------------- -----------------------------------------
                           Fixed Maturity          Equity                                   Fixed Maturity                   
                             Securities:         Securities:                                 Securities:                     
-                    --------------------------- -----------                        ------------------------------           
                                                   Common                                                                    
                               Foreign             Stock-       Other    Derivative                                Derivative
                     Corporate  Bonds  Other (1)  Domestic   Investments   Assets   Corporate Municipals Other (1)   Assets  
                     --------- ------- --------- ----------- ----------- ---------- --------- ---------- --------- ----------
                                                                  (In millions)                                              
                                                                                                                             
Year Ended                                                                                                                   
 December 31, 2012:                                                                                                          
Balance, January 1,.  $    30  $     5  $     2   $    194    $    501    $     4    $     4   $     1    $     5   $     1  
Realized gains                                                                                                               
 (losses)...........       --       --       --       (25)          52          4         --        --        (2)         2  
Unrealized gains                                                                                                             
 (losses)...........      (1)        8        1          9        (38)        (6)         --        --          2       (2)  
Purchases, sales,                                                                                                            
 issuances and                                                                                                               
 settlements, net...     (11)      (6)        4       (49)        (96)        (1)         --        --        (2)       (1)  
Transfers into                                                                                                               
 and/or out of                                                                                                               
 Level 3............       --       --       --         --          --         --         --        --         --        --  
                     --------- ------- --------- ----------- ----------- ---------- --------- ---------- --------- ----------
Balance,                                                                                                                     
 December 31,.......  $    18  $     7  $     7   $    129    $    419    $     1    $     4   $     1    $     3   $    --  
                     ========= ======= ========= =========== =========== ========== ========= ========== ========= ==========

                                     Fair Value Measurements Using Significant Unobservable Inputs (Level 3)                 
                     --------------------------------------------------------------------------------------------------------
                                            Pension Benefits                              Other Postretirement Benefits      
-                    -------------------------------------------------------------- -----------------------------------------
                           Fixed Maturity          Equity                                   Fixed Maturity                   
                             Securities:         Securities:                                 Securities:                     
-                    --------------------------- -----------                        ------------------------------           
                                                   Common                                                                    
                               Foreign             Stock-       Other    Derivative                                Derivative
                     Corporate  Bonds  Other (1)  Domestic   Investments   Assets   Corporate Municipals Other (1)   Assets  
                     --------- ------- --------- ----------- ----------- ---------- --------- ---------- --------- ----------
                                                                  (In millions)                                              
Year Ended                                                                                                                   
 December 31, 2011:                                                                                                          
Balance, January 1,.  $    45  $     4  $     2   $    228    $    446    $   (1)    $     4   $     1    $     6   $    --  
Realized gains                                                                                                               
 (losses)...........       --       --      (1)       (57)          80          1         --        --        (1)        --  
Unrealized gains                                                                                                             
 (losses)...........      (3)      (2)        1        110          42          6         --        --          1         1  
Purchases, sales,                                                                                                            
 issuances and                                                                                                               
 settlements, net...     (13)        3      (1)       (87)        (67)        (2)         --        --        (1)        --  
Transfers into                                                                                                               
 and/or out of                                                                                                               
 Level 3............        1       --        1         --          --         --         --        --         --        --  
                     --------- ------- --------- ----------- ----------- ---------- --------- ---------- --------- ----------
Balance,                                                                                                                     
 December 31,.......  $    30  $     5  $     2   $    194    $    501    $     4    $     4   $     1    $     5   $     1  
                     ========= ======= ========= =========== =========== ========== ========= ========== ========= ==========

                                                        [Enlarge/Download Table]

                                Fair Value Measurements Using Significant Unobservable Inputs (Level 3)           
                     ---------------------------------------------------------------------------------------------
                                            Pension Benefits                        Other Postretirement Benefits 
-                    -------------------------------------------------------------- ------------------------------
                           Fixed Maturity          Equity                                   Fixed Maturity        
                             Securities:         Securities:                                 Securities:          
-                    --------------------------- -----------                        ------------------------------
                                                   Common                                                         
                               Foreign             Stock-       Other    Derivative                               
                     Corporate  Bonds  Other (1)  Domestic   Investments   Assets   Corporate Municipals Other (1)
                     --------- ------- --------- ----------- ----------- ---------- --------- ---------- ---------
                                                             (In millions)                                        
                                                                                                                  
Year Ended                                                                                                        
 December 31, 2010:                                                                                               
Balance, January 1,.   $  64    $   5   $    66   $    229    $    354    $    --    $    --   $    --     $   9  
Realized gains                                                                                                    
 (losses)...........      --       --      (11)         --          74          2         --        --       (4)  
Unrealized gains                                                                                                  
 (losses)...........       7        1        13        (2)         (4)        (2)          1        --         1  
Purchases, sales,                                                                                                 
 issuances and                                                                                                    
 settlements, net...    (17)      (2)      (67)          1          22        (1)         --        --       (1)  
Transfers into                                                                                                    
 and/or out of                                                                                                    
 Level 3............     (9)       --         1         --          --         --          3         1         1  
                     --------- ------- --------- ----------- ----------- ---------- --------- ---------- ---------
Balance,                                                                                                          
 December 31,.......   $  45    $   4   $     2   $    228    $    446    $   (1)    $     4   $     1     $   6  
                     ========= ======= ========= =========== =========== ========== ========= ========== =========

----------                                                                      

(1)Other includes ABS and collateralized mortgage obligations.                  

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Expected Future Contributions and Benefit Payments                            

It is the Company's practice to make contributions to the qualified pension 
plan to comply with minimum funding requirements of ERISA. In accordance with   
such practice, no contributions are required for 2013. The Company expects to   
make discretionary contributions to the qualified pension plan of $202 million  
in 2013. For information on employer contributions, see "--Obligations and      
Funded Status."                                                                 

Benefit payments due under the non-qualified pension plans are primarily    
funded from the Company's general assets as they become due under the provision 
of the plans, therefore benefit payments equal employer contributions. The      
Company expects to make contributions of $61 million to fund the benefit        
payments in 2013.                                                               

Postretirement benefits are either: (i) not vested under law; (ii) a        
non-funded obligation of the Company; or (iii) both. Current regulations do not 
require funding for these benefits. The Company uses its general assets, net of 
participant's contributions, to pay postretirement medical claims as they come  
due in lieu of utilizing any plan assets. The Company expects to make           
contributions of $78 million towards benefit obligations in 2013 to pay         
postretirement medical claims.                                                  

As noted previously, the Company no longer expects to receive the RDS under 
the Medicare Modernization Act of 2003 to partially offset payment of such      
benefits. Instead, the gross benefit payments that will be made under the PDP   
will already reflect subsidies.                                                 

Gross benefit payments for the next 10 years, which reflect expected future 
service where appropriate, are expected to be as follows:                       

                                                                [Download Table]

                                                                    Other     
                                                     Pension    Postretirement
                                                     Benefits      Benefits   
                                                   ------------ --------------
                                                          (In millions)       
                                                                              
2013.............................................. $        422   $      113  
2014.............................................. $        457   $      116  
2015.............................................. $        452   $      118  
2016.............................................. $        468   $      119  
2017.............................................. $        493   $      120  
2018-2022......................................... $      2,705   $      617  

Additional Information                                                        

As previously discussed, most of the assets of the pension and other        
postretirement benefit plans are held in group annuity and life insurance       
contracts issued by the Company. Total revenues from these contracts recognized 
in the consolidated statements of operations were $54 million, $47 million and  
$46 million for the years ended December 31, 2012, 2011 and 2010, respectively, 
and included policy charges and net investment income from investments backing  
the contracts and administrative fees. Total investment income (loss),          
including realized and unrealized gains (losses), credited to the account       
balances was $867 million, $885 million and $767 million for the years ended    
December 31, 2012, 2011 and 2010, respectively. The terms of these contracts    
are consistent in all material respects with those the Company offers to        
unaffiliated parties that are similarly situated.                               

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Defined Contribution Plans                                                  

 The Company sponsors defined contribution plans for substantially all Company
employees under which a portion of employee contributions are matched. The      
Company contributed $83 million, $73 million and $72 million for the years      
ended December 31, 2012, 2011 and 2010, respectively.                           

16. Income Tax                                                                  

The provision for income tax from continuing operations was as follows:     

                                                                [Download Table]

                                                   Years Ended December 31,
                                                   ------------------------
                                                     2012     2011    2010 
-                                                  -------- -------- ------
                                                        (In millions)      
                                                                           
Current:                                                                   
 Federal.......................................... $    675 $    551 $  304
 State and local..................................        2        2      4
 Foreign..........................................      176      116     46
                                                   -------- -------- ------
   Subtotal.......................................      853      669    354
                                                   -------- -------- ------
Deferred:                                                                  
 Federal..........................................      346      769    346
 Foreign..........................................    (144)       22     69
                                                   -------- -------- ------
   Subtotal.......................................      202      791    415
                                                   -------- -------- ------
     Provision for income tax expense (benefit)... $  1,055 $  1,460 $  769
                                                   ======== ======== ======

The reconciliation of the income tax provision at the U.S. statutory rate to
the provision for income tax as reported for continuing operations was as       
follows:                                                                        

                                                                [Download Table]

                                         Years Ended December 31,
                                         ------------------------
                                           2012     2011    2010 
                                         -------- -------- ------
                                              (In millions)      
                                                                 
Tax provision at U.S. statutory rate.... $  1,294 $  1,660 $  878
Tax effect of:                                                   
  Tax-exempt investment income..........    (118)    (102)  (100)
  State and local income tax............        2        3      1
  Prior year tax........................       10       10     48
  Tax credits...........................    (160)    (119)   (72)
  Foreign tax rate differential.........        3        2    (2)
  Change in valuation allowance.........       13       --     13
  Other, net............................       11        6      3
                                         -------- -------- ------
   Provision for income tax expense                              
     (benefit).......................... $  1,055 $  1,460 $  769
                                         ======== ======== ======

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Deferred income tax represents the tax effect of the differences between the
book and tax basis of assets and liabilities. Net deferred income tax assets    
and liabilities consisted of the following at:                                  

                                                                [Download Table]

                                                                 December 31,     
                                                             ---------------------
                                                                2012       2011   
                                                             ---------- ----------
                                                                 (In millions)    
                                                                                  
Deferred income tax assets:                                                       
  Policyholder liabilities and receivables.................. $    2,495 $    2,558
  Net operating loss carryforwards..........................         35         26
  Employee benefits.........................................      1,075        840
  Capital loss carryforwards................................         17         11
  Tax credit carryforwards..................................        372        249
  Litigation-related and government mandated................        175        200
  Other.....................................................        198         94
                                                             ---------- ----------
   Total gross deferred income tax assets...................      4,367      3,978
  Less: Valuation allowance.................................         52         38
                                                             ---------- ----------
   Total net deferred income tax assets.....................      4,315      3,940
                                                             ---------- ----------
Deferred income tax liabilities:                                                  
  Investments, including derivatives........................      2,283      1,754
  DAC.......................................................      1,629      1,876
  Net unrealized investment gains...........................      3,412      2,617
  Other.....................................................         27         17
                                                             ---------- ----------
   Total deferred income tax liabilities....................      7,351      6,264
                                                             ---------- ----------
   Net deferred income tax asset (liability)................ $  (3,036) $  (2,324)
                                                             ========== ==========

 The following table sets forth the domestic, state, and foreign net operating
and capital loss carryforwards for tax purposes at December 31, 2012:           

                                                        [Enlarge/Download Table]

                                               Net Operating Loss                 Capital Loss          
                                                  Carryforwards                   Carryforwards         
                                         ------------------------------- -------------------------------
                                            Amount        Expiration        Amount        Expiration    
                                         ------------- ----------------- ------------- -----------------
                                         (In millions)                   (In millions)                  
                                                                                                        
Domestic................................   $      30   Beginning in 2018   $      --   N/A              
Foreign.................................   $      70   Beginning in 2027   $      50   Beginning in 2014

Tax credit carryforwards of $372 million at December 31, 2012 will expire   
beginning in 2021.                                                              

The Company has recorded a valuation allowance increase related to tax      
benefits of $7 million related to certain state and foreign net operating loss  
carryforwards and an increase of $7 million related to certain foreign capital  
loss carryforwards. The valuation allowance reflects management's assessment,   
based on available information, that it is more likely than not that the        
deferred income tax asset for certain foreign net operating and capital loss    
carryforwards and certain state net operating loss carryforwards will not be    
realized. The tax benefit will be recognized when management believes that it   
is more likely than not that these deferred income tax assets are realizable.   

The Company files income tax returns with the U.S. federal government and   
various state and local jurisdictions, as well as foreign jurisdictions. The    
Company is under continuous examination by the Internal                         

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Revenue Service ("IRS") and other tax authorities in jurisdictions in which the 
Company has significant business operations. The income tax years under         
examination vary by jurisdiction and subsidiary. The Company is no longer       
subject to U.S. federal, state and local, or foreign income tax examinations in 
major taxing jurisdictions for years prior to 2003, except for 2000 through     
2002 where the IRS has disallowed certain tax credits claimed and the Company   
continues to protest. The IRS audit cycle for the years 2003 through 2006,      
which began in April 2010, is expected to conclude in 2013.                     

The Company's liability for unrecognized tax benefits may increase or       
decrease in the next 12 months. A reasonable estimate of the increase or        
decrease cannot be made at this time. However, the Company continues to believe 
that the ultimate resolution of the pending issues will not result in a         
material change to its consolidated financial statements, although the          
resolution of income tax matters could impact the Company's effective tax rate  
for a particular future period                                                  

A reconciliation of the beginning and ending amount of unrecognized tax     
benefits was as follows:                                                        

                                                        [Enlarge/Download Table]

                                                                           Years Ended December 31, 
                                                                          --------------------------
                                                                            2012     2011     2010  
                                                                          -------- -------- --------
                                                                                (In millions)       
                                                                                                    
Balance at January 1,.................................................... $    525 $    499 $    592
Additions for tax positions of prior years...............................       27       26        2
Reductions for tax positions of prior years..............................      (5)       --     (54)
Additions for tax positions of current year..............................       --        1        2
Reductions for tax positions of current year.............................       --      (1)      (1)
Settlements with tax authorities.........................................     (15)       --     (31)
Lapses of statutes of limitations........................................       --       --     (11)
                                                                          -------- -------- --------
Balance at December 31,.................................................. $    532 $    525 $    499
                                                                          ======== ======== ========
Unrecognized tax benefits that, if recognized would impact the effective                            
  rate................................................................... $    466 $    459 $    432
                                                                          ======== ======== ========

The Company classifies interest accrued related to unrecognized tax benefits
in interest expense, included within other expenses, while penalties are        
included in income tax expense.                                                 

Interest was as follows:                                                        

                                                        [Enlarge/Download Table]

                                                             Years Ended December 31,
                                                             ----------------------  
                                                              2012     2011    2010  
                                                             ------   ------- -------
                                                                 (In millions)       
                                                                                     
Interest recognized in the consolidated statements of                                
  operations................................................ $    8   $    27 $    27

                                                                       December 31,  
                                                                      ---------------
                                                                       2012    2011  
                                                                      ------- -------
                                                                       (In millions) 
Interest included in other liabilities in the consolidated balance                   
  sheets............................................................. $   211 $   203

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Notes to the Consolidated Financial Statements -- (Continued) 

The Company had no penalties for the years ended December 31, 2012, 2011 and
2010.                                                                           

The U.S. Treasury Department and the IRS have indicated that they intend to 
address through regulations the methodology to be followed in determining the   
dividends received deduction ("DRD"), related to variable life insurance and    
annuity contracts. The DRD reduces the amount of dividend income subject to tax 
and is a significant component of the difference between the actual tax expense 
and expected amount determined using the federal statutory tax rate of 35%. Any 
regulations that the IRS ultimately proposes for issuance in this area will be  
subject to public notice and comment, at which time insurance companies and     
other interested parties will have the opportunity to raise legal and practical 
questions about the content, scope and application of such regulations. As a    
result, the ultimate timing and substance of any such regulations are unknown   
at this time. For the years ended December 31, 2012 and 2011, the Company       
recognized an income tax benefit of $70 million and $69 million, respectively,  
related to the separate account DRD. The 2012 benefit included a benefit of $2  
million related to a true-up of the 2011 tax return. The 2011 benefit included  
a benefit of $4 million related to a true-up of the 2010 tax return.            

17.  Contingencies, Commitments and Guarantees                                  

Contingencies                                                                   

Litigation                                                                  

The Company is a defendant in a large number of litigation matters. In some 
of the matters, very large and/or indeterminate amounts, including punitive and 
treble damages, are sought. Modern pleading practice in the U.S. permits        
considerable variation in the assertion of monetary damages or other relief.    
Jurisdictions may permit claimants not to specify the monetary damages sought   
or may permit claimants to state only that the amount sought is sufficient to   
invoke the jurisdiction of the trial court. In addition, jurisdictions may      
permit plaintiffs to allege monetary damages in amounts well exceeding          
reasonably possible verdicts in the jurisdiction for similar matters. This      
variability in pleadings, together with the actual experience of the Company in 
litigating or resolving through settlement numerous claims over an extended     
period of time, demonstrates to management that the monetary relief which may   
be specified in a lawsuit or claim bears little relevance to its merits or      
disposition value.                                                              

 Due to the vagaries of litigation, the outcome of a litigation matter and the
amount or range of potential loss at particular points in time may normally be  
difficult to ascertain. Uncertainties can include how fact finders will         
evaluate documentary evidence and the credibility and effectiveness of witness  
testimony, and how trial and appellate courts will apply the law in the context 
of the pleadings or evidence presented, whether by motion practice, or at trial 
or on appeal. Disposition valuations are also subject to the uncertainty of how 
opposing parties and their counsel will themselves view the relevant evidence   
and applicable law.                                                             

The Company establishes liabilities for litigation and regulatory loss      
contingencies when it is probable that a loss has been incurred and the amount  
of the loss can be reasonably estimated. Liabilities have been established for  
a number of the matters noted below. It is possible that some of the matters    
could require the Company to pay damages or make other expenditures or          
establish accruals in amounts that could not be estimated at December 31, 2012. 
While the potential future charges could be material in the particular          
quarterly or annual periods in which they are recorded, based on information    
currently known to management, management does not believe any such charges are 
likely to have a material effect on the Company's financial position.           

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Notes to the Consolidated Financial Statements -- (Continued) 

Matters as to Which an Estimate Can Be Made                                 

For some of the matters disclosed below, the Company is able to estimate a  
reasonably possible range of loss. For such matters where a loss is believed to 
be reasonably possible, but not probable, no accrual has been made. As of       
December 31, 2012, the Company estimates the aggregate range of reasonably      
possible losses in excess of amounts accrued for these matters to be $0 to      
$235 million.                                                                   

Matters as to Which an Estimate Cannot Be Made                              

For other matters disclosed below, the Company is not currently able to     
estimate the reasonably possible loss or range of loss. The Company is often    
unable to estimate the possible loss or range of loss until developments in     
such matters have provided sufficient information to support an assessment of   
the range of possible loss, such as quantification of a damage demand from      
plaintiffs, discovery from other parties and investigation of factual           
allegations, rulings by the court on motions or appeals, analysis by experts,   
and the progress of settlement negotiations. On a quarterly and annual basis,   
the Company reviews relevant information with respect to litigation             
contingencies and updates its accruals, disclosures and estimates of reasonably 
possible losses or ranges of loss based on such reviews.                        

Asbestos-Related Claims                                                     

Metropolitan Life Insurance Company is and has been a defendant in a large  
number of asbestos-related suits filed primarily in state courts. These suits   
principally allege that the plaintiff or plaintiffs suffered personal injury    
resulting from exposure to asbestos and seek both actual and punitive damages.  
Metropolitan Life Insurance Company has never engaged in the business of        
manufacturing, producing, distributing or selling asbestos or                   
asbestos-containing products nor has Metropolitan Life Insurance Company issued 
liability or workers' compensation insurance to companies in the business of    
manufacturing, producing, distributing or selling asbestos or                   
asbestos-containing products. The lawsuits principally have focused on          
allegations with respect to certain research, publication and other activities  
of one or more of Metropolitan Life Insurance Company's employees during the    
period from the 1920's through approximately the 1950's and allege that         
Metropolitan Life Insurance Company learned or should have learned of certain   
health risks posed by asbestos and, among other things, improperly publicized   
or failed to disclose those health risks. Metropolitan Life Insurance Company   
believes that it should not have legal liability in these cases. The outcome of 
most asbestos litigation matters, however, is uncertain and can be impacted by  
numerous variables, including differences in legal rulings in various           
jurisdictions, the nature of the alleged injury and factors unrelated to the    
ultimate legal merit of the claims asserted against Metropolitan Life Insurance 
Company. Metropolitan Life Insurance Company employs a number of resolution     
strategies to manage its asbestos loss exposure, including seeking resolution   
of pending litigation by judicial rulings and settling individual or groups of  
claims or lawsuits under appropriate circumstances.                             

Claims asserted against Metropolitan Life Insurance Company have included   
negligence, intentional tort and conspiracy concerning the health risks         
associated with asbestos. Metropolitan Life Insurance Company's defenses        
(beyond denial of certain factual allegations) include that: (i) Metropolitan   
Life Insurance Company owed no duty to the plaintiffs-- it had no special       
relationship with the plaintiffs and did not manufacture, produce, distribute   
or sell the asbestos products that allegedly injured plaintiffs;                
(ii) plaintiffs did not rely on any actions of Metropolitan Life Insurance      
Company; (iii) Metropolitan Life Insurance Company's conduct was not the cause  
of the plaintiffs' injuries; (iv) plaintiffs' exposure occurred after the       
dangers of asbestos were known; and (v) the applicable time with respect to     
filing suit has expired. During the course of the litigation, certain trial     

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courts have granted motions dismissing claims against Metropolitan Life         
Insurance Company, while other trial courts have denied Metropolitan Life       
Insurance Company's motions to dismiss. There can be no assurance that          
Metropolitan Life Insurance Company will receive favorable decisions on motions 
in the future. While most cases brought to date have settled, Metropolitan Life 
Insurance Company intends to continue to defend aggressively against claims     
based on asbestos exposure, including defending claims at trials.               

The approximate total number of asbestos personal injury claims pending     
against Metropolitan Life Insurance Company as of the dates indicated, the      
approximate number of new claims during the years ended on those dates and the  
approximate total settlement payments made to resolve asbestos personal injury  
claims at or during those years are set forth in the following table:           

                                                        [Enlarge/Download Table]

                                                                     December 31,                  
                                                             --------------------------------------
                                                               2012         2011         2010      
                                                              ---------    ---------    ---------  
                                                             (In millions, except number of claims)
                                                                                                   
Asbestos personal injury claims at year end.................    65,812       66,747       68,513   
Number of new claims during the year........................     5,303        4,972        5,670   
Settlement payments during the year (1)..................... $    36.4    $    34.2    $    34.9   

--------                                                                        

(1)Settlement payments represent payments made by Metropolitan Life Insurance   
  Company during the year in connection with settlements made in that year and
  in prior years. Amounts do not include Metropolitan Life Insurance Company's
attorneys' fees and expenses and do not reflect amounts received from     
insurance carriers.                                                       

In 2009, Metropolitan Life Insurance Company received 3,910 new claims,     
ending the year with a total of 68,804 claims, and paid $37.6 million for       
settlements reached in 2009 and prior years. In 2008, Metropolitan Life         
Insurance Company received 5,063 new claims, ending the year with a total of    
74,027 claims, and paid $99 million for settlements reached in 2008 and prior   
years. In 2007, Metropolitan Life Insurance Company received 7,161 new claims,  
ending the year with a total of 79,717 claims, and paid $28.2 million for       
settlements reached in 2007 and prior years. In 2006, Metropolitan Life         
Insurance Company received 7,870 new claims, ending the year with a total of    
87,070 claims, and paid $35.5 million for settlements reached in 2006 and prior 
years. In 2005, Metropolitan Life Insurance Company received 18,500 new claims, 
ending the year with a total of 100,250 claims, and paid $74.3 million for      
settlements reached in 2005 and prior years. In 2004, Metropolitan Life         
Insurance Company received 23,900 new claims, ending the year with a total of   
108,000 claims, and paid $85.5 million for settlements reached in 2004 and      
prior years. In 2003, Metropolitan Life Insurance Company received 58,750 new   
claims, ending the year with a total of 111,700 claims, and paid $84.2 million  
for settlements reached in 2003 and prior years. The number of asbestos cases   
that may be brought, the aggregate amount of any liability that Metropolitan    
Life Insurance Company may incur, and the total amount paid in settlements in   
any given year are uncertain and may vary significantly from year to year.      

The ability of Metropolitan Life Insurance Company to estimate its ultimate 
asbestos exposure is subject to considerable uncertainty, and the conditions    
impacting its liability can be dynamic and subject to change. The availability  
of reliable data is limited and it is difficult to predict the numerous         
variables that can affect liability estimates, including the number of future   
claims, the cost to resolve claims, the disease mix and severity of disease in  
pending and future claims, the impact of the number of new claims filed in a    
particular jurisdiction and variations in the law in the jurisdictions in which 
claims are filed, the possible impact of tort reform efforts, the willingness   
of courts to allow plaintiffs to pursue claims against Metropolitan Life        
Insurance Company when                                                          

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Notes to the Consolidated Financial Statements -- (Continued) 

exposure to asbestos took place after the dangers of asbestos exposure were     
well known, and the impact of any possible future adverse verdicts and their    
amounts.                                                                        

The ability to make estimates regarding ultimate asbestos exposure declines 
significantly as the estimates relate to years further in the future. In the    
Company's judgment, there is a future point after which losses cease to be      
probable and reasonably estimable. It is reasonably possible that the Company's 
total exposure to asbestos claims may be materially greater than the asbestos   
liability currently accrued and that future charges to income may be necessary. 
While the potential future charges could be material in the particular          
quarterly or annual periods in which they are recorded, based on information    
currently known by management, management does not believe any such charges are 
likely to have a material effect on the Company's financial position.           

The Company believes adequate provision has been made in its consolidated   
financial statements for all probable and reasonably estimable losses for       
asbestos-related claims. Metropolitan Life Insurance Company's recorded         
asbestos liability is based on its estimation of the following elements, as     
informed by the facts presently known to it, its understanding of current law   
and its past experiences: (i) the probable and reasonably estimable liability   
for asbestos claims already asserted against Metropolitan Life Insurance        
Company, including claims settled but not yet paid; (ii) the probable and       
reasonably estimable liability for asbestos claims not yet asserted against     
Metropolitan Life Insurance Company, but which Metropolitan Life Insurance      
Company believes are reasonably probable of assertion; and (iii) the legal      
defense costs associated with the foregoing claims. Significant assumptions     
underlying Metropolitan Life Insurance Company's analysis of the adequacy of    
its recorded liability with respect to asbestos litigation include: (i) the     
number of future claims; (ii) the cost to resolve claims; and (iii) the cost to 
defend claims.                                                                  

Metropolitan Life Insurance Company reevaluates on a quarterly and annual   
basis its exposure from asbestos litigation, including studying its claims      
experience, reviewing external literature regarding asbestos claims experience  
in the United States, assessing relevant trends impacting asbestos liability    
and considering numerous variables that can affect its asbestos liability       
exposure on an overall or per claim basis. These variables include bankruptcies 
of other companies involved in asbestos litigation, legislative and judicial    
developments, the number of pending claims involving serious disease, the       
number of new claims filed against it and other defendants and the              
jurisdictions in which claims are pending. As previously disclosed, in 2002     
Metropolitan Life Insurance Company increased its recorded liability for        
asbestos related claims by $402 million from $820 million to $1.2 billion.      
Based upon its regular reevaluation of its exposure from asbestos litigation,   
Metropolitan Life Insurance Company has updated its liability analysis for      
asbestos-related claims through December 31, 2012.                              

Regulatory Matters                                                            

The Company receives and responds to subpoenas or other inquiries from state
regulators, including state insurance commissioners; state attorneys general or 
other state governmental authorities; federal regulators, including the U.S.    
Securities and Exchange Commission ("SEC"); federal governmental authorities,   
including congressional committees; and the Financial Industry Regulatory       
Authority ("FINRA") seeking a broad range of information. The issues involved   
in information requests and regulatory matters vary widely. The Company         
cooperates in these inquiries.                                                  

United States of America v. EME Homer City Generation, L.P., et al. (W.D.   
Pa., filed January 4, 2011). On January 4, 2011, the U.S. commenced a civil     
action in United States District Court for the Western District of Pennsylvania 
against EME Homer City Generation L.P. ("EME Homer City"), Homer City OL6 LLC,  
and other defendants regarding the operations of the Homer City Generating      
Station, an electricity generating facility. At                                 

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the time the action was commenced, Homer City OL6 LLC, an entity owned by       
Metropolitan Life Insurance Company, was a passive investor with a              
non-controlling interest in the electricity generating facility, which was      
solely operated by the lessee, EME Homer City. In a 2012 transaction, ownership 
of the electricity generating facility was transferred to Homer City            
Generation, L.P., and Homer City OL6 LLC was merged into Homer City Generation, 
L.P. Metropolitan Life Insurance Company is a limited partner in Homer City     
Generation, L.P. The complaint sought injunctive relief and assessment of civil 
penalties for alleged violations of the federal Clean Air Act and               
Pennsylvania's State Implementation Plan. The alleged violations were the       
subject of Notices of Violations ("NOVs") that the Environmental Protection     
Agency ("EPA") issued to EME Homer City, Homer City OL6 LLC, and others in June 
2008 and May 2010. On January 7, 2011, the United States District Court for the 
Western District of Pennsylvania granted the motion by the Pennsylvania         
Department of Environmental Protection and the State of New York to intervene   
in the lawsuit as additional plaintiffs. On February 16, 2011, the State of New 
Jersey filed an Intervenor's Complaint in the lawsuit. On October 12, 2011, the 
court issued an order dismissing the U.S.'s lawsuit with prejudice. The         
Government entities have appealed from the order granting defendants' motion to 
dismiss. EME Homer City acknowledged its obligation to indemnify the owners of  
the electricity generating facility for any claims relating to the NOVs. The    
Sierra Club, which in a February 13, 2012 letter to the operator and owners of  
the electricity generating facility had stated its intent to sue for alleged    
violations of the Clean Air Act, subsequently indicated that it does not intend 
to commence suit. As a result of the change in the ownership structure, the     
parties to the proceeding no longer include a subsidiary of Metropolitan Life   
Insurance Company.                                                              

 In the Matter of Chemform, Inc. Site, Pompano Beach, Broward County, Florida.
In July 2010, the EPA advised Metropolitan Life Insurance Company that it       
believed payments were due under two settlement agreements, known as            
"Administrative Orders on Consent," that New England Mutual Life Insurance      
Company ("New England Mutual") signed in 1989 and 1992 with respect to the      
cleanup of a Superfund site in Florida (the "Chemform Site"). The EPA           
originally contacted Metropolitan Life Insurance Company (as successor to New   
England Mutual) and a third party in 2001, and advised that they owed           
additional clean-up costs for the Chemform Site. The matter was not resolved at 
that time. The EPA is requesting payment of an amount under $1 million from     
Metropolitan Life Insurance Company and such third party for past costs and an  
additional amount for future environmental testing costs at the Chemform Site.  
In June 2012, the EPA, Metropolitan Life Insurance Company and the third party  
executed an Administrative Order on Consent under which Metropolitan Life       
Insurance Company and the third party have agreed to be responsible for certain 
environmental testing at the Chemform site. The Company estimates that its      
costs for the environmental testing will not exceed $100,000. The June 2012     
Administrative Order on Consent does not resolve the EPA's claim for past       
clean-up costs. The EPA may seek additional costs if the environmental testing  
identifies issues. The Company estimates that the aggregate cost to resolve     
this matter will not exceed $1 million.                                         

Metco Site, Hicksville, Nassau County, New York. On February 22, 2012, the  
New York State Department of Environmental Conservation ("Department of         
Environmental Conservation") issued a notice to Metropolitan Life Insurance     
Company, as purported successor in interest to New England Mutual, that it is a 
potentially responsible party with respect to hazardous substances and          
hazardous waste located on a property that New England Mutual owned for a time  
in 1978. Metropolitan Life Insurance Company has responded to the Department of 
Environmental Conservation and asserted that it is not a potentially            
responsible party under the law.                                                

Sales Practices Regulatory Matters. Regulatory authorities in a small number
of states and FINRA, and occasionally the SEC, have had investigations or       
inquiries relating to sales of individual life insurance policies or annuities  
or other products by Metropolitan Life Insurance Company, NELICO, GALIC, and    
New England Securities Corporation. These investigations often focus on the     
conduct of particular financial services                                        

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representatives and the sale of unregistered or unsuitable products or the      
misuse of client assets. Over the past several years, these and a number of     
investigations by other regulatory authorities were resolved for monetary       
payments and certain other relief, including restitution payments. The Company  
may continue to resolve investigations in a similar manner. The Company         
believes adequate provision has been made in its consolidated financial         
statements for all probable and reasonably estimable losses for these sales     
practices related investigations or inquiries.                                  

Unclaimed Property Inquiries and Related Litigation                           

In April 2012, MetLife, Inc., for itself and on behalf of entities including
Metropolitan Life Insurance Company, reached agreements with representatives of 
the U.S. jurisdictions that were conducting audits of MetLife, Inc. and certain 
of its affiliates, including Metropolitan Life Insurance Company, for           
compliance with unclaimed property laws, and with state insurance regulators    
directly involved in a multistate targeted market conduct examination relating  
to claim-payment practices and compliance with unclaimed property laws. As of   
year-end 2012, the unclaimed property regulators of 39 states and the District  
of Columbia, and the insurance regulators of 48 states and the District of      
Columbia have accepted the respective agreements. Pursuant to the agreements,   
the Company will, among other things, take specified action to identify         
liabilities under life insurance, annuity, and retained asset contracts, to     
adopt specified procedures for seeking to contact and pay owners of the         
identified liabilities, and, to the extent that it is unable to locate such     
owners, to escheat these amounts with interest at a specified rate to the       
appropriate states. Additionally, the Company has agreed to accelerate the      
final date of certain industrial life policies and to escheat unclaimed         
benefits of such policies. Pursuant to the agreement to resolve the market      
conduct examination, MetLife, Inc. made a $40 million multistate examination    
payment, of which the Company's share is $33 million, to be allocated among the 
settling states. In the third quarter of 2011, Metropolitan Life Insurance      
Company incurred a $110 million after tax charge to increase reserves in        
connection with the Company's use of the U.S. Social Security Administration's  
Death Master File and similar databases to identify potential life insurance    
claims that had not been presented to the Company. In the first quarter of      
2012, the Company recorded a $47 million after tax charge for the multistate    
examination payment and the expected acceleration of benefit payments to        
policyholders under the settlements. On September 20, 2012, the West Virginia   
Treasurer filed an action against Metropolitan Life Insurance Company in West   
Virginia state court (West Virginia ex rel. John D. Perdue v. Metropolitan Life 
Insurance Company, Circuit Court of Putnam County, Civil Action No. 12-C-295)   
alleging that the Company violated the West Virginia Uniform Unclaimed Property 
Act, seeking to compel compliance with the Act, and seeking payment of          
unclaimed property, interest, and penalties. On November 21, 2012 and           
January 9, 2013, the Treasurer filed substantially identical suits against      
NELICO and GALIC, respectively. At least one other jurisdiction is pursuing a   
similar market conduct examination concerning compliance with unclaimed         
property statutes. It is possible that other jurisdictions may pursue similar   
examinations, audits, or lawsuits and that such actions may result in           
additional payments to beneficiaries, additional escheatment of funds deemed    
abandoned under state laws, administrative penalties, interest, and/or further  
changes to the Company's procedures. The Company is not currently able to       
estimate these additional possible costs.                                       

Total Asset Recovery Services, LLC on behalf of the State of Minnesota v.   
MetLife, Inc., et. al. (District Court, County of Hennepin, MN, filed           
January 31, 2011). Alleging that MetLife, Inc. and another company violated the 
Minnesota Uniform Disposition of Unclaimed Property Act by failing to escheat   
to Minnesota benefits of 584 life insurance contracts, the Relator brought an   
action under the Minnesota False Claims Act seeking to recover damages on       
behalf of Minnesota. The action was sealed by court order until March 22, 2012. 
The Relator alleged that the aggregate damages, including statutory damages and 
treble damages, are $228 million. The Relator did not allocate this claimed     
damage amount between MetLife, Inc. and the other defendant. On December 31,    
2012, the court granted motions by MetLife, Inc. and the other defendant to     
dismiss the action.                                                             

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Total Asset Recovery Services, LLC on behalf of the State of Florida v.     
MetLife, Inc., et. al. (Cir. Ct. Leon County, FL, filed October 27, 2010).      
Alleging that MetLife, Inc. and two other companies have violated the Florida   
Disposition of Unclaimed Property law by failing to escheat to Florida benefits 
of 9,022 life insurance contracts, the Relator has brought an action under the  
Florida False Claims act seeking to recover damages on behalf of Florida. The   
action has been sealed by court order until December 17, 2012. The relator      
alleges that the aggregate damages, including statutory damages and treble      
damages, are $3.2 billion. The Relator does not allocate this claimed damage    
amount between MetLife, Inc. and the other defendants. The Relator also bases   
its damage calculation in part on its assumption that the average face amount   
of the subject policies is $120,000. MetLife, Inc. strongly disputes this       
assumption, the Relator's alleged damages amounts, and other allegations in the 
complaint. On December 14, 2012, the Florida Attorney General apprised the      
court that the State of Florida declined to intervene in the action and noted   
that the allegations in the complaint ". . . are very similar (if not           
identical) to those raised in regulatory investigations of the defendants that  
predated the filing of the action" and that those regulatory investigations     
have been resolved. The Company intends to defend this action vigorously.       

Total Control Accounts Litigation                                             

Metropolitan Life Insurance Company is a defendant in a consolidated lawsuit
related to its use of retained asset accounts, known as Total Control Accounts  
("TCA"), as a settlement option for death benefits.                             

 Keife, et al. v. Metropolitan Life Insurance Company (D. Nev., filed in state
court on July 30, 2010 and removed to federal court on September 7, 2010); and  
Simon v. Metropolitan Life Insurance Company. (D. Nev., filed November 3,       
2011). These consolidated putative class action lawsuits raise breach of        
contract claims arising from Metropolitan Life Insurance Company's use of the   
TCA to pay life insurance benefits under the Federal Employees' Group Life      
Insurance program. On March 8, 2013, the court granted Metropolitan Life        
Insurance Company's motion for summary judgment. Plaintiffs have appealed that  
decision to the United States Court of Appeals for the Ninth Circuit.           

Various state regulators have also taken actions with respect to retained   
asset accounts. The New York Department of Financial Services issued a circular 
letter on March 29, 2012 stating that an insurer should only use a retained     
asset account when a policyholder or beneficiary affirmatively chooses to       
receive life insurance proceeds through such an account and providing for       
certain disclosures to a beneficiary, including that payment by a single check  
is an option. In connection with a market conduct exam, Metropolitan Life       
Insurance Company entered into a consent order with the Minnesota Department of 
Commerce regarding the Company's use of TCAs as a default option.               

The Company is unable to estimate the reasonably possible loss or range of  
loss arising from the TCA matters.                                              

Other Litigation                                                              

Merrill Haviland, et al. v. Metropolitan Life Insurance Company (E.D. Mich.,
removed to federal court on July 22, 2011). This lawsuit was filed by 45        
retired General Motors ("GM") employees against Metropolitan Life Insurance     
Company and the amended complaint includes claims for conversion, unjust        
enrichment, breach of contract, fraud, intentional infliction of emotional      
distress, fraudulent insurance acts, unfair trade practices, and ERISA claims   
based upon GM's 2009 reduction of the employees' life insurance coverage under  
GM's ERISA-governed plan. The complaint includes a count seeking class action   
status. Metropolitan Life Insurance Company is the insurer of GM's group life   
insurance plan and administers claims under the plan. According to the          
complaint, Metropolitan Life Insurance Company had previously provided          
plaintiffs with a "written guarantee" that their life insurance benefits under  
the GM plan would not be reduced for the rest of their lives. On June 26,       

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2012, the district court granted Metropolitan Life Insurance Company's motion   
to dismiss the complaint. Plaintiffs have appealed that decision to the United  
States Court of Appeals for the Sixth Circuit.                                  

McGuire v. Metropolitan Life Insurance Company (E.D. Mich., filed         
February 22, 2012). This lawsuit was filed by the fiduciary for the Union       
Carbide Employees' Pension Plan and alleges that Metropolitan Life Insurance    
Company, which issued annuity contracts to fund some of the benefits the Plan   
provides, engaged in transactions that ERISA prohibits and violated duties      
under ERISA and federal common law by determining that no dividends were        
payable with respect to the contracts from and after 1999. On September 26,     
2012, the court denied Metropolitan Life Insurance Company's motion to dismiss  
the complaint. The parties have begun discovery.                                

Sales Practices Claims. Over the past several years, the Company has faced  
numerous claims, including class action lawsuits, alleging improper marketing   
or sales of individual life insurance policies, annuities, mutual funds or      
other products. Some of the current cases seek substantial damages, including   
punitive and treble damages and attorneys' fees. The Company continues to       
vigorously defend against the claims in these matters. The Company believes     
adequate provision has been made in its consolidated financial statements for   
all probable and reasonably estimable losses for sales practices matters.       

Sun Life Assurance Company of Canada v. Metropolitan Life Ins. Co. (Super.  
Ct., Ontario, October 2006). In 2006, Sun Life Assurance Company of Canada      
("Sun Life"), as successor to the purchaser of Metropolitan Life Insurance      
Company's Canadian operations, filed this lawsuit in Toronto, seeking a         
declaration that Metropolitan Life Insurance Company remains liable for "market 
conduct claims" related to certain individual life insurance policies sold by   
Metropolitan Life Insurance Company and that have been transferred to Sun Life. 
Sun Life had asked that the court require Metropolitan Life Insurance Company   
to indemnify Sun Life for these claims pursuant to indemnity provisions in the  
sale agreement for the sale of Metropolitan Life Insurance Company's Canadian   
operations entered into in June of 1998. In January 2010, the court found that  
Sun Life had given timely notice of its claim for indemnification but, because  
it found that Sun Life had not yet incurred an indemnifiable loss, granted      
Metropolitan Life Insurance Company's motion for summary judgment. Both parties 
appealed. In September 2010, Sun Life notified Metropolitan Life Insurance      
Company that a purported class action lawsuit was filed against Sun Life in     
Toronto, Kang v. Sun Life Assurance Co. (Super. Ct., Ontario, September 2010),  
alleging sales practices claims regarding the same individual policies sold by  
Metropolitan Life Insurance Company and transferred to Sun Life. An amended     
class action complaint in that case was served on Sun Life, again without       
naming Metropolitan Life Insurance Company as a party. On August 30, 2011, Sun  
Life notified Metropolitan Life Insurance Company that a purported class action 
lawsuit was filed against Sun Life in Vancouver, Alamwala v. Sun Life Assurance 
Co. (Sup. Ct., British Columbia, August 2011), alleging sales practices claims  
regarding certain of the same policies sold by Metropolitan Life Insurance      
Company and transferred to Sun Life. Sun Life contends that Metropolitan Life   
Insurance Company is obligated to indemnify Sun Life for some or all of the     
claims in these lawsuits. The Company is unable to estimate the reasonably      
possible loss or range of loss arising from this litigation.                    

Summary                                                                       

 Putative or certified class action litigation and other litigation and claims
and assessments against the Company, in addition to those discussed previously  
and those otherwise provided for in the Company's consolidated financial        
statements, have arisen in the course of the Company's business, including, but 
not limited to, in connection with its activities as an insurer, employer,      
investor, investment advisor and taxpayer. Further, state insurance regulatory  
authorities and other federal and state authorities regularly make inquiries    
and conduct investigations concerning the Company's compliance with applicable  
insurance and other laws and regulations.                                       

F-154 

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

It is not possible to predict the ultimate outcome of all pending           
investigations and legal proceedings. In some of the matters referred to        
previously, very large and/or indeterminate amounts, including punitive and     
treble damages, are sought. Although in light of these considerations it is     
possible that an adverse outcome in certain cases could have a material effect  
upon the Company's financial position, based on information currently known by  
the Company's management, in its opinion, the outcomes of such pending          
investigations and legal proceedings are not likely to have such an effect.     
However, given the large and/or indeterminate amounts sought in certain of      
these matters and the inherent unpredictability of litigation, it is possible   
that an adverse outcome in certain matters could, from time to time, have a     
material effect on the Company's consolidated net income or cash flows in       
particular quarterly or annual periods.                                         

Insolvency Assessments                                                      

Most of the jurisdictions in which the Company is admitted to transact      
business require insurers doing business within the jurisdiction to participate 
in guaranty associations, which are organized to pay contractual benefits owed  
pursuant to insurance policies issued by impaired, insolvent or failed          
insurers. These associations levy assessments, up to prescribed limits, on all  
member insurers in a particular state on the basis of the proportionate share   
of the premiums written by member insurers in the lines of business in which    
the impaired, insolvent or failed insurer engaged. Some states permit member    
insurers to recover assessments paid through full or partial premium tax        
offsets.                                                                        

Assets and liabilities held for insolvency assessments were as follows:     

                                                                [Download Table]

                                                                December 31,  
                                                               ---------------
                                                                2012    2011  
                                                               ------- -------
                                                                (In millions) 
                                                                              
Other Assets:                                                                 
 Premium tax offset for future undiscounted assessments....... $    85 $    63
 Premium tax offsets currently available for paid assessments.      12      13
                                                               ------- -------
                                                               $    97 $    76
                                                               ======= =======

Other Liabilities:                                                            
 Insolvency assessments....................................... $   136 $   113
                                                               ======= =======

Commitments                                                                     

Leases                                                                      

In accordance with industry practice, certain of the Company's income from  
lease agreements with retail tenants are contingent upon the level of the       
tenants' revenues. Additionally, the Company, as lessee, has entered into       
various lease and sublease agreements for office space, information technology  
and other equipment. Future minimum rental and sublease income, and minimum     
gross rental payments relating to these lease agreements are as follows:        

                                                                [Download Table]

                               Gross  
             Rental  Sublease  Rental 
             Income   Income  Payments
            -------- -------- --------
                  (In millions)       
                                      
2013....... $    345 $    18  $    181
2014....... $    331 $    15  $    143
2015....... $    291 $    15  $    133
2016....... $    220 $    15  $    119
2017....... $    180 $    15  $    103
Thereafter. $    750 $    80  $    847

F-155 

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

Commitments to Fund Partnership Investments                                   

The Company makes commitments to fund partnership investments in the normal 
course of business. The amounts of these unfunded commitments were $2.2 billion 
and $2.5 billion at December 31, 2012 and 2011, respectively. The Company       
anticipates that these amounts will be invested in partnerships over the next   
five years.                                                                     

Mortgage Loan Commitments                                                     

The Company commits to lend funds under mortgage loan commitments. The      
amounts of these mortgage loan commitments were $2.7 billion and $2.3 billion   
at December 31, 2012 and 2011, respectively.                                    

Commitments to Fund Bank Credit Facilities, Bridge Loans and Private Corporate
Bond Investments                                                              

The Company commits to lend funds under bank credit facilities, bridge loans
and private corporate bond investments. The amounts of these unfunded           
commitments were $971 million and $986 million at December 31, 2012 and 2011,   
respectively.                                                                   

Guarantees                                                                      

In the normal course of its business, the Company has provided certain      
indemnities, guarantees and commitments to third parties pursuant to which it   
may be required to make payments now or in the future. In the context of        
acquisition, disposition, investment and other transactions, the Company has    
provided indemnities and guarantees, including those related to tax,            
environmental and other specific liabilities and other indemnities and          
guarantees that are triggered by, among other things, breaches of               
representations, warranties or covenants provided by the Company. In addition,  
in the normal course of business, the Company provides indemnifications to      
counterparties in contracts with triggers similar to the foregoing, as well as  
for certain other liabilities, such as third-party lawsuits. These obligations  
are often subject to time limitations that vary in duration, including          
contractual limitations and those that arise by operation of law, such as       
applicable statutes of limitation. In some cases, the maximum potential         
obligation under the indemnities and guarantees is subject to a contractual     
limitation ranging from less than $1 million to $800 million, with a cumulative 
maximum of $1.0 billion, while in other cases such limitations are not          
specified or applicable. Since certain of these obligations are not subject to  
limitations, the Company does not believe that it is possible to determine the  
maximum potential amount that could become due under these guarantees in the    
future. Management believes that it is unlikely the Company will have to make   
any material payments under these indemnities, guarantees, or commitments.      

In addition, the Company indemnifies its directors and officers as provided 
in its charters and by-laws. Also, the Company indemnifies its agents for       
liabilities incurred as a result of their representation of the Company's       
interests. Since these indemnities are generally not subject to limitation with 
respect to duration or amount, the Company does not believe that it is possible 
to determine the maximum potential amount that could become due under these     
indemnities in the future.                                                      

The Company's recorded liabilities were $4 million at both December 31, 2012
and 2011, for indemnities, guarantees and commitments.                          

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Metropolitan Life Insurance Company 
(A Wholly-Owned Subsidiary of MetLife, Inc.)  

Notes to the Consolidated Financial Statements -- (Continued) 

18.  Related Party Transactions                                                 

Service Agreements                                                              

The Company has entered into various agreements with affiliates for services
necessary to conduct its activities. Typical services provided under these      
agreements include personnel, policy administrative functions and distribution  
services. For certain agreements, charges are based on various performance      
measures or activity-based costing. The bases for such charges are modified and 
adjusted by management when necessary or appropriate to reflect fairly and      
equitably the actual incidence of cost incurred by the Company and/or           
affiliate. Expenses and fees incurred with affiliates related to these          
agreements, recorded in other expenses, were $2.6 billion, $2.8 billion and     
$2.7 billion for the years ended December 31, 2012, 2011 and 2010,              
respectively. Revenues received from affiliates related to these agreements     
recorded in universal life and investment-type product policy fees were $108    
million, $94 million and $84 million for the years ended December 31, 2012,     
2011 and 2010, respectively. Revenues received from affiliates related to these 
agreements recorded in other revenues were $113 million, $46 million and $34    
million for the years ended December 31, 2012, 2011 and 2010, respectively.     

The Company also entered into agreements with affiliates to provide         
additional services necessary to conduct the affiliates' activities. Typical    
services provided under these agreements include management, policy             
administrative functions, investment advice and distribution services. Expenses 
incurred by the Company related to these agreements, included in other          
expenses, were $1.6 billion, $1.6 billion and $1.2 billion for the years ended  
December 31, 2012, 2011 and 2010, respectively, and were reimbursed to the      
Company by these affiliates.                                                    

The Company had net payables to affiliates of $346 million and $238 million 
at December 31, 2012 and 2011, respectively, related to the items discussed     
above. These payables exclude affiliated reinsurance balances discussed in Note 
6.                                                                              

See Notes 4, 8 and 12 for additional related party transactions.            

F-157 

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 Metropolitan Life Separate Account UL

PART C: OTHER INFORMATION                                                       

ITEM 26. EXHIBITS                                                               

 (a).          Resolution of the Board of Directors of Metropolitan Life
                   Insurance Company effecting the establishment of Metropolitan
Life Separate Account UL (2)              

(b).          None                                                    

(c) (i).      Form of Broker Agreement (2)                            

(ii).     Schedule of Sales Commissions (1)                   

(iii).    Form of Selling Agreement (8)                       

(iv).     Form of Retail Sales Agreement (12)                 

(v).      Principal Underwriting Agreement with MLIDC (15)    

     (vi).     Master Retail Sales Agreement (MLIDC) dated February 2010
(18)                                      

   (vii).    Master Retail Sales Agreement between MetLife Investors
                  Distribution Company and broker-dealers dated September 2012
(Filed herewith)                          

(d) (i).      Specimen Old Product Flexible Premium Multifunded Life  
                 Insurance Policy (including application and any alternative
             pages as required by state law) with form of riders, if
any (2)                                   

     (ii).     Specimen of New Product Flexible Premium Multifunded Life
                 Insurance Policy (including application and any alternative
           pages required by state law) with forms of riders (3)

    (iii).    Riders for Disability Waiver Rider, and Accidental Death
Benefit (2)                               

 (iv).     Riders for Accelerated Death Benefit, Children's Term
             Insurance Benefit and Spouse Term Insurance Benefit (2)

   (v).      New York Endorsement of Old Product to Flexible Premium
Multifunded Life Insurance Policy (2)     

        (vi).     Additional alternate pages for Old Product required by state
law (2)                                   

         (vii).    Endorsement adding death benefit Option C for Old Product (2)

(viii).   Endorsement- Long Term Care Guarantee Purchase (5)  

(ix).     Endorsement- Death Benefit Adjustment (8)           

(e) (i).      Applications (see (d)(i) and (d)(ii) above)             

(ii).     Enterprise Application for Policy (8)               

(iii).    Updated Enterprise Application for Policy (10)      

   (f) (i).      Restated Charter and By-Laws of Metropolitan Life Insurance
Company (4)                               

    (ii).     Amended and Restated Charter and By-Laws of Metropolitan
Life Insurance Company (7)                

       (iii).    Amended and Restated By-Laws of Metropolitan Life Insurance
Company (15)                              

(g).          Reinsurance Contracts (8)                               

(h) (i)(a).   Fund Participation Agreement among Metropolitan Life    
            Insurance Company, American Funds Insurance Series and
                   Capital Research and Management Company dated April 30, 2001.
(6)                                       

    (i)(b).   Amendment No. 1 dated May 1, 2006; Amendment No. 2 dated
            April 28, 2008; and Amendment No. 3 dated November 10,
2008. (19)                                

(i)(c).   Amendment dated April 30, 2010. (20)                

         (ii)(a).  Participation Agreement among Met Investors Series Trust, Met
              Investors Advisory Corp., MetLife Investors Distribution
           Company and Metropolitan Life Insurance Company dated
April 30, 2001. (7)                       

      (ii)(b).  First Amendment dated April 30, 2007; and Second Amendment
dated May 1, 2009 (17)                    

(ii)(c).  Amendment dated April 30, 2010. (21)                

         (iii)(a). Participation Agreement among Metropolitan Series Fund, Inc.,
                   MetLife Advisers, LLC, MetLife Investors Distribution Company
              and Metropolitan Life Insurance Company dated August 31,
2007. (14)                                

(iii)(b). Amendment dated April 30, 2010. (21)                

(i).          None                                                    

(j).          None                                                    

   (k).          Opinion and Consent of Marie C. Swift as to the legality of
the securities being registered (8)       

(l).          Actuarial Opinion (16)                                  

(m).          Calculation Exhibit (16)                                

(n).          Consent of Independent Registered Public Accounting Firm
(Filed herewith)                          

(o).          None                                                    

(p).          None                                                    

 (q) (i).      Memoranda describing certain procedures filed pursuant to
Rule 6e-3(T)(b)(12)(iii) (2)              

     (ii).     Addendum to Memoranda describing certain procedures filed
pursuant to Rule 6e-3(T)(b)(12)(iii) (13) 

(r) (i).      Powers of Attorney (22)                                 

(ii).     Power of Attorney of John C.R. Hele (Filed herewith)

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1.   Incorporated by reference from "Sales and Administration of the Policies"  
   in the Prospectuses included herein and "Distribution of the Policies" in
the Statement of Additional Information.                              

2.   Incorporated herein by reference to Post-Effective Amendment No. 5 to      
this Registration Statement on Form S-6 (File No. 033-47927) filed on 
April 30, 1997.                                                       

3.   Incorporated herein by reference to Post-Effective Amendment No. 7 to this 
Registration Statement on Form S-6 (File No. 033-47927) filed on      
February 27, 1998.                                                    

4.   Incorporated herein by reference to Post-Effective Amendment No. 11 to this
   Registration Statement on Form S-6 (File No. 033-47927) filed on April 6,
2000.                                                                 

5.   Incorporated herein by reference to Post-Effective Amendment No. 12 to this
    Registration Statement on Form S-6 (File No. 033-47927) filed on April 10,
2001.                                                                 

6.   Incorporated herein by reference to Pre-Effective Amendment No. 1 to       
 Metropolitan Life Separate Account E's Registration Statement (File No.
333-52366) filed on August 3, 2001.                                   

7.   Incorporated herein by reference to the Registration Statement for         
Metropolitan Life Separate Account E (File No. 333-83716) filed on    
March 5, 2002.                                                        

8.   Incorporated herein by reference to Post-Effective Amendment No. 18 to this
    Registration Statement on Form N-6 (File No. 033-47927) filed on April 30,
2004.                                                                 

9.   Incorporated herein by reference to the Registration Statement for         
Metropolitan Life Separate Account E (File No. 333-122883) filed on   
February 17, 2005.                                                    

10.  Incorporated herein by reference to Post-Effective Amendment No. 19 to this
    Registration Statement on Form N-6 (File No. 033-47927) filed on April 28,
2005.                                                                 

11.  Incorporated herein by reference to the Registration Statement for         
Metropolitan Life Separate Account UL (File No. 333-131664) filed on  
February 8, 2006.                                                     

12.  Incorporated herein by reference to Post-Effective Amendment No. 20 to this
    Registration Statement on Form N-6 (File No. 033-47927) filed on April 28,
2006.                                                                 

13.  Incorporated herein by reference to Post-Effective Amendment No. 21 to this
    Registration Statement on Form N-6 (File No. 033-47927) filed on April 18,
2007.                                                                 

14.  Incorporation herein by reference to Post-Effective Amendment No. 9 to     
   Metropolitan Life Separate Account E's Registration Statement on Form N-4
(File No. 333-83716) filed on September 10, 2007.                     

15.  Incorporation herein by reference to Post-Effective Amendment No. 3 to     
   Paragon Separate Account B's Registration Statement on Form N-6 (File No.
333-133675) filed on January 16, 2008.                                

16.  Incorporated herein by reference to Post-Effective Amendment No. 22 to this
    Registration Statement on Form N-6 (File No. 033-47927) filed on April 18,
2008.                                                                 

17.  Incorporated herein by reference to Post-Effective Amendment No. 22 to the 
    Registrant's Registration Statement on Form N-6 (File No. 033-57320) filed
on April 16, 2009.                                                    

18.  Incorporated herein by reference to Exhibit 3(b) in Post-Effective         
 Amendment No. 14 to Metropolitan Life Separate Account E's Registration
Statement on Form N-4 (File No. 333-83716) as filed on April 13, 2010.

19.  Incorporated herein by reference to Pre-Effective Amendment No. 1 to the   
     Registration Statement on Form N-4 for Metropolitan Life Separate Account E
(File No. 333-160722) filed on November 2, 2009.                      

20.  Incorporated herein by reference to Post-Effective Amendment No. 25 to the 
     Registration Statement on Form N-4 for Metropolitan Life Separate Account E
(File No. 333-83716) filed on April 12, 2011.                         

21.  Incorporated herein by reference to Post-Effective Amendment No. 25 to the 
   Registration Statement on Form N-6 for Metropolitan Life Separate Account
UL (File No. 033-57320) filed on April 12, 2012.                      

22.  Incorporated herein by reference to Post-Effective Amendment No. 26 to the 
    Registrant's Registration Statement on Form N-6 (File No. 033-47927) filed
April 12, 2012.                                                       

ITEM 27. DIRECTORS AND OFFICERS OF DEPOSITOR                                    

                                                        [Enlarge/Download Table]

Name and Principal Business Address            Position and Offices with Depositor                         
--------------------------------------------   ------------------------------------------------------------
                                                                                                           
Steven A. Kandarian                            Chairman of the Board, President, Chief Executive Officer   
MetLife, Inc, and Metropolitan Life Insurance  and Director                                                
Company                                                                                                    
200 Park Avenue                                                                                            
New York, NY 10166                                                                                         

Sylvia Mathews Burwell                         Director                                                    
President, WalMart Foundation                                                                              
Corporate Affairs                                                                                          
702 Southwest 8th Street                                                                                   
Pole D-48                                                                                                  
Bentonville, AR  72716-0150                                                                                

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Name and Principal Business Address           Position and Offices with Depositor                         
--------------------------------------------  ------------------------------------------------------------
                                                                                                          
Cheryl W. Grise                               Director                                                    
c/o MetLife, Inc. and Metropolitan Life                                                                   
Insurance Company                                                                                         
200 Park Avenue                                                                                           
New York, NY 10166                                                                                        

R. Glenn Hubbard                              Director                                                    
Dean of Graduate School of Business and                                                                   
Russell L. Carson Professor of                                                                            
Finance and Economics                                                                                     
Columbia University                                                                                       
Uris Hall                                                                                                 
3022 Broadway                                                                                             
New York, NY 10027-6902                                                                                   

John M. Keane                                 Director                                                    
Co-Founder and Senior Managing Director                                                                   
Keane Advisors, LLC                                                                                       
2020 K St., N.W., Suite 300                                                                               
Washington, DC 20006                                                                                      

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Name and Principal Business Address           Position and Offices with Depositor                         
--------------------------------------------  ------------------------------------------------------------
                                                                                                          
Alfred F. Kelly, Jr.                                    Director                                          
President and Chief Executive Officer                                                                     
2014 NY/NJ Super Bowl Host Company                                                                        
MetLife Stadium                                                                                           
One MetLife Stadium Drive                                                                                 
East Rutherford, NJ  07073                                                                                

James M. Kilts                                          Director                                          
Founding Partner                                                                                          
Centerview Capital                                                                                        
Greenwich Office Park                                                                                     
2nd Floor                                                                                                 
Greenwich, CT 06831                                                                                       

Catherine R. Kinney                                     Director                                          
c/o MetLife, Inc. and Metropolitan Life                                                                   
Insurance Company                                                                                         
200 Park Avenue                                                                                           
New York, NY 10166                                                                                        

Hugh B. Price                                           Director                                          
Senior Fellow                                                                                             
Brookings Institution                                                                                     
1775 Massachusetts Avenue, N.W.                                                                           
Washington, DC 20036                                                                                      

David Satcher                                           Director                                          
Director of Satcher Health Leadership                                                                     
Institute and Center of Excellence on                                                                     
Health Disparities                                                                                        
Morehouse School of Medicine                                                                              
720 Westview Drive, S.W.                                                                                  
Atlanta, GA 30310-1495                                                                                    

Kenton J. Sicchitano                                    Director                                          
c/o MetLife, Inc. and Metropolitan Life                                                                   
Insurance Company                                                                                         
200 Park Avenue                                                                                           
New York, NY 10166                                                                                        

Lulu C. Wang                                            Director                                          
Chief Executive Officer                                                                                   
Tupelo Capital Management LLC                                                                             
340 Madison Avenue, 19th Floor                                                                            
New York, NY 10173                                                                                        

Set forth below is a list of certain principal officers of Metropolitan Life    
Insurance Company. The principal business address of each principal officer is  
1095 Avenue of the Americas, New York, NY 10036.                                

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Name                                          Position with MetLife                                                 
--------------------------------------------  ------------------------------------------------------------          
                                                                                                                    
Steven A. Kandarian                           Chairman of the Board, President and Chief Executive Officer          

Michel A. Khalaf                              President, Europe/Middle East/Africa Division                         

Christopher G. Townsend                       President, Asia                                                       

William J. Wheeler                            President, Americas                                                   

Ricardo A. Anzaldua                           Executive Vice President and General Counsel                          

Peter M. Carlson                              Executive Vice President and Chief Accounting Officer                 

Richard S. Collins                            Deputy General Counsel                                                

Steven J. Goulart                             Executive Vice President and Chief Investment Officer                 

John C.R. Hele                                Executive Vice President and Chief Financial Officer                  

Shailendra Ghorpade                           Executive Vice President                                              

Franciscus Hijkoop                            Executive Vice President and Chief Human Resources Officer            

Beth M. Hirschhorn                            Executive Vice President of Global Brand, Marketing and Communications

William R. Hogan                              Executive Vice President                                              

Todd B. Katz                                  Executive Vice President                                              

Robin Lenna                                   Executive Vice President                                              

Martin J. Lippert                             Executive Vice President, Global Technology & Operations              

Eugene R. Marks, Jr.                          Executive Vice President                                              

William D. Moore                              Executive Vice President                                              

Maria R. Morris                               Executive Vice President, Global Employee Benefits                    

Anthony J.Nugent                              Executive Vice President                                              

Oscar Schmidt                                 Executive Vice President                                              

Marc Sevestre                                 Executive Vice President                                              

Peter A. Smyth                                Executive Vice President                                              

Eric T. Steigerwalt                           Executive Vice President                                              

Stanley J. Talbi                              Executive Vice President                                              

Andreas E. Vassiliou                          Executive Vice President                                              

ITEM 28. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH THE DEPOSITOR OR THE
REGISTRANT                                                                      

     The registrant is a separate account of Metropolitan Life Insurance Company
under the New York Insurance law. Under said law the assets allocated to the    
separate account are the property of Metropolitan Life Insurance Company.       
Metropolitan Life Insurance Company is a wholly-owned subsidiary of MetLife,    
Inc., a publicly traded company. The following outline indicates those persons  
who are controlled by or under common control with Metropolitan Life Insurance  
Company:                                                                        

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ORGANIZATIONAL STRUCTURE OF METLIFE, INC. AND SUBSIDIARIES
   AS OF DECEMBER 31, 2012

The following is a list of subsidiaries of MetLife, Inc. updated as of December 
31, 2012. Those entities which are listed at the left margin (labeled with      
capital letters) are direct subsidiaries of MetLife, Inc. Unless otherwise      
indicated, each entity which is indented under another entity is a subsidiary of
that other entity and, therefore, an indirect subsidiary of MetLife, Inc.       
Certain inactive subsidiaries have been omitted from the MetLife, Inc.          
organizational listing. The voting securities (excluding directors' qualifying  
shares, if any) of the subsidiaries listed are 100% owned by their respective   
parent corporations, unless otherwise indicated. The jurisdiction of domicile of
each subsidiary listed is set forth in the parenthetical following such         
subsidiary.                                                                     

A.    MetLife Group, Inc. (NY)                                                  

B.    MetLife Bank, National Association (USA)                                  

1. MetLife Home Loans LLC (DE)                                      

C.    Exeter Reassurance Company, Ltd. (Cayman Islands)                         

D.    Metropolitan Tower Life Insurance Company (DE)                            

1.    EntreCap Real Estate II LLC (DE)                              

a)    PREFCO Dix-Huit LLC (CT)                          

b)    PREFCO X Holdings LLC (CT)                        

   c)    PREFCO Ten Limited Partnership (CT) - a 99.9% limited
                  partnership interest of PREFCO Ten Limited Partnership is held
   by EntreCap Real Estate II LLC and 0.1% general
 partnership is held by PREFCO X Holdings LLC.

d)    PREFCO Vingt LLC (CT)                             

    e)    PREFCO Twenty Limited Partnership (CT) - a 99% limited
                partnership interest of PREFCO Twenty Limited Partnership is
      held by EntreCap Real Estate II LLC and 1% general
partnership is held by PREFCO Vingt LLC.    

2.     Plaza Drive Properties, LLC (DE)                               

3.     MTL Leasing, LLC (DE)                                          

a)    PREFCO IX Realty LLC (CT)                         

b)    PREFCO XIV Holdings LLC (CT)                      

         c)    PREFCO Fourteen Limited Partnership (CT) -  a 99.9% limited
               partnership interest of PREFCO Fourteen Limited Partnership
               is held by MTL Leasing, LLC and 0.1% general partnership is
held by PREFCO XIV Holdings LLC.            

d)    1320 Venture LLC (DE)                             

e)    1320 GP LLC (DE)                                  

      f)    1320 Owner LP (DE) - a 99.9% limited partnership of 1320
         Owner LP is held by 1320 Venture LLC and 0.1% general
partnership is held by 1320 GP LLC.         

4.     MetLife Reinsurance Company of Delaware (DE)                   

E.    MetLife Chile Inversiones SpA (Chile) - 70.4345328853% of MetLife Chile   
      Inversiones SpA is owned by MetLife, Inc., 26.6071557459% by American Life
      Insurance Company ("ALICO"), 2.9583113284% is owned by Inversiones MetLife
   Holdco Dos Limitada and 0.0000000404% is owned by Natilportem Holdings,
Inc.                                                                

  1.    MetLife Chile Seguros de Vida S.A. (Chile) - 99.9969% of MetLife
           Chile Seguros de Vida S.A. is held by MetLife Chile Inversiones SpA
    and 0.0031% by International Technical and Advisory Services
Limited.                                                

      a)    MetLife Chile Administradora de Mutuos Hipotecarios S.A.
              (Chile) - 99.99% of MetLife Chile Administradora de Mutuos
                Hipotecarios S.A.  is owned by MetLife Chile Seguros de Vida
             S.A. and 0.01% is owned by MetLife Chile Inversiones SpA.

2.    Legal Chile S.A. (Chile) - 51% of Legal Chile S.A. is owned by
            MetLife Chile Inversiones SpA and the remaining interest is owned by
a third party.                                          

          a)    Legalgroup S.A. (Chile) - 99% of Legalgroup S.A. is owned by
             Legal Chile S.A. and the remaining interest is owned by a
third party.                                

F.    Metropolitan Life Seguros de Vida S.A. (Uruguay) - 99.9994% of            
Metropolitan Life Seguros de Vida S.A. is owned by MetLife, Inc. and
0.0006% is owned by Oscar Schmidt.                                  

G.    MetLife Securities, Inc. (DE)                                             

H.    Enterprise General Insurance Agency, Inc. (DE)                            

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I.    Metropolitan Property and Casualty Insurance Company (RI)                 

1.    Metropolitan General Insurance Company (RI)                   

2.    Metropolitan Casualty Insurance Company (RI)                  

  3.    Metropolitan Direct Property and Casualty Insurance Company (RI)

4.    Met P&C Managing General Agency, Inc. (TX)                    

5.    MetLife Auto & Home Insurance Agency, Inc. (RI)               

 6.    Metropolitan Group Property and Casualty Insurance Company (RI)

     a)    Metropolitan Reinsurance Company (U.K.) Limited (United
Kingdom)                                    

7.    Metropolitan Lloyds, Inc. (TX)                                

  a)    Metropolitan Lloyds Insurance Company of Texas (TX)-
                 Metropolitan Lloyds Insurance Company of Texas, an affiliated
           association, provides automobile, homeowner and related
           insurance for the Texas market. It is an association of
                individuals designated as underwriters. Metropolitan Lloyds,
            Inc., a subsidiary of Metropolitan Property and Casualty
                 Insurance Company, serves as the attorney-in-fact and manages
the association.                            

8.    Economy Fire & Casualty Company (IL)                          

a)    Economy Preferred Insurance Company (IL)          

b)    Economy Premier Assurance Company (IL)            

J.    MetLife Investors Insurance Company (MO)                                  

K.    First MetLife Investors Insurance Company (NY)                            

L.    Walnut Street Securities, Inc. (MO)                                       

M.    Newbury Insurance Company, Limited (Bermuda)                              

N.    MetLife Investors Group, Inc. (DE)                                        

1.    MetLife Investors Distribution Company (MO)                   

2.    MetLife Advisers, LLC (MA)                                    

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O.    MetLife International Holdings, Inc. (DE)                                 

1.    MetLife Mexico Cares, S.A. de C.V. (Mexico)                   

a)    Fundacion MetLife Mexico, A.C. (Mexico)           

2.    Natiloportem Holdings, Inc. (DE)                              

  a)    Servicios Administrativos Gen, S.A. de C.V. (Mexico)

             i)   MLA Comercial, S.A. de C.V. (Mexico) 99% is owned by
                   Servicios Administrativos Gen, S.A. de C.V. and 1% is
         owned by MetLife Mexico Cares, S.A. de C.V.

             ii)  MLA Servicios, S.A. de C.V. (Mexico) 99% is owned by
                   Servicios Administrativos Gen, S.A. de C.V. and 1% is
         owned by MetLife Mexico Cares, S.A. de C.V.

3.    MetLife India Insurance Company  Limited (India)- 26% is      
         owned by MetLife International Holdings, Inc. and 74% is owned by
third parties.                                          

4.    Metropolitan Life Insurance Company of Hong Kong Limited (Hong
         Kong)- 99.99935% is owned by MetLife International Holdings, Inc.
and 0.00065% is owned by Natiloporterm Holdings, Inc.   

5.    MetLife Seguros de Vida S.A. (Argentina)- 96.7372% is         
          owned by MetLife International Holdings, Inc. and 3.2628% is owned
by Natiloportem Holdings, Inc.                          

6.    Metropolitan Life Seguros e Previdencia Privada S.A. (Brazil)-
     66.6617540% is owned by MetLife International Holdings, Inc.,
    33.3382457% is owned by MetLife Worldwide Holdings, Inc. and
0.0000003% is owned by Natiloportem Holdings, Inc.      

7.    MetLife Global, Inc. (DE)                                     

     8.    MetLife Administradora de Fundos Multipatrocinados Ltda. (Brazil) -
        99.999998% of MetLife Administradora de Fundos Multipatrocinados
            Ltda. is owned by MetLife International Holdings, Inc. and 0.000002%
by Natiloportem Holdings, Inc.                          

9.    MetLife Services Limited (United Kingdom)                     

   10.   MetLife Seguros de Retiro S.A. (Argentina) - 96.8488% is owned by
    MetLife International Holdings, Inc. and 3.1512% is owned by
Natiloportem Holdings, Inc.                             

11.   Best Market S.A. (Argentina) - 5% of the shares are held by   
Natiloportem Holdings, Inc. and 95% is owned by MetLife 
International Holdings Inc.                             

 12.   Compania Previsional MetLife S.A. (Brazil) - 95.46% is owned by
  MetLife International Holdings, Inc. and 4.54% is owned by
Natiloportem Holdings, Inc.                             

          a)    MetLife Servicios S.A. (Argentina) - 18.87% of the shares of
           MetLife Servicios S.A. are held by Compania Previsional
                  MetLife S.A., 79.88% is owned by MetLife Seguros de Vida S.A.,
                  0.99% is held by Natiloportem Holdings, Inc. and 0.26% is held
by MetLife Seguros de Retiro S.A.           

13.   MetLife Worldwide Holdings, Inc. (DE)                         

a)    MetLife Direct Co., LTD. (Japan)                  

b)    MetLife Limited (Hong Kong)                       

14.   MetLife International Limited, LLC (DE)                       

   15.   MetLife Planos Odontologicos Ltda. (Brazil) - 99.999% is owned by
   MetLife International Holdings, Inc. and 0.001% is owned by
Natiloportem Holdings, Inc.                             

16.   MetLife Ireland Holdings One Limited (Ireland)                

         a)    MetLife Global Holdings Corporation S.A. de C.V. (Mexico) -
              98.9% is owned by MetLife Ireland Holdings One Limited and
        1.1% is owned by MetLife International Limited, LLC.

    i)    MetLife Ireland Treasury Limited (Ireland)

                   a)    MetLife General Insurance Limited (Australia)

           b)    MetLife Insurance Limited (Australia)

                    1)    The Direct Call Centre PTY Limited
   (Australia)

                             2)    MetLife Investments PTY Limited (Australia)

                                    aa)   MetLife Insurance and Investment Trust
                                       (Australia) - MetLife Insurance and
                                        Investment Trust is a trust vehicle,
                                   the trustee of which is MetLife
                                          Investments PTY Limited ("MIPL"). MIPL
                                   is a wholly owned subsidiary of
                              MetLife Insurance Limited.

             ii)   Metropolitan Global Management, LLC (DE) - 99.7% is
                     owned by MetLife Global Holdings Corporation, S.A. de
               C.V. and 0.3% is owned by MetLife International
Holdings, Inc.                  

                      a)    MetLife Pensiones Mexico S.A. (Mexico)- 97.4738%
                           is owned by Metropolitan Global Management, LLC
                         and 2.5262% is owned by MetLife International
Holdings, Inc.      

                       b)    MetLife Mexico Servicios, S.A. de C.V. (Mexico) -
                           98% is owned by Metropolitan Global Management,
                        LLC and 2% is owned by MetLife International
Holdings, Inc.      

                       c)    MetLife Mexico S.A. (Mexico)- 99.050271% is owned
                      by Metropolitan Global Management, LLC and
                       0.949729% is owned by MetLife International
Holdings, Inc.      

                              1)    MetLife Afore, S.A. de C.V. (Mexico)- 99.99%
                                    is owned by MetLife Mexico S.A. and 0.01% is
                              owned by MetLife Pensiones Mexico S.A.

                                   aa)    Met1 SIEFORE, S.A. de C.V. (Mexico)-
                                       99.99% is owned by MetLife Afore,
                                        S.A. de C.V. and 0.01% is owned by
                         MetLife Mexico S.A.

                                   bb)    Met2 SIEFORE, S.A. de C.V. (Mexico)-
                                       99.99% is owned by MetLife Afore,
                                        S.A. de C.V. and 0.01% is owned by
                         MetLife Mexico S.A.

                                   cc)    MetA SIEFORE Adicional, S.A. de C.V.
                                          (Mexico)- 99.99% is owned by MetLife
                                      Afore, S.A. de C.V. and 0.01% is
                                  owned by MetLife Mexico S.A.

                                dd)    Met3 SIEFORE Basica, S.A. de C.V.
                                           (Mexico) - 99.99% is owned by MetLife
                                      Afore, S.A. de C.V. and 0.01% is
                                  owned by MetLife Mexico S.A.

                                    ee)    Met4 SIEFORE, S.A. de C.V. (Mexico) -
                                       99.99% is owned by MetLife Afore,
                                        S.A. de C.V. and 0.01% is owned by
                         MetLife Mexico S.A.

                                    ff)    Met5 SIEFORE, S.A. de C.V. (Mexico) -
                                       99.99% is owned by MetLife Afore,
                                        S.A. de C.V. and 0.01% is owned by
                         MetLife Mexico S.A.

                        2)    ML Capacitacion Comercial S.A. de C.V.
                                 (Mexico) - 99% is owned by MetLife Mexico
                              S.A. and 1% is owned by MetLife Mexico
           Cares, S.A. de C.V.

                        d)    MetLife Saengmyoung Insurance Co. Ltd. (also known
                         as MetLife Insurance Company of Korea Limited
                             (South Korea)- 14.64% is owned by MetLife Mexico,
                           S.A. and 85.36% is owned by Metropolitan Global
Management, LLC.    

  17.   Inversiones Metlife Holdco Dos Limitada (Chile)- 99% is owned by
            Metlife International Holdings, Inc. and 1% is owned by Natiloportem
Holdings, Inc.                                          

18.   MetLife Asia Pacific Limited (Hong Kong)                      

P.    Metropolitan Life Insurance Company (NY)                                  

1.    334 Madison Euro Investments, Inc. (DE)                       

2.    St. James Fleet Investments Two Limited (Cayman Islands)      

    a)    Park Twenty Three Investments Company (United Kingdom)

               i)    Convent Station Euro Investments Four Company (United
Kingdom)                        

                    aa)    OMI MLIC Investments Limited (Cayman Islands)

3.    CRB Co., Inc. (MA)                                            

4.    MLIC Asset Holdings II LLC (DE)                               

a)    El Conquistador MAH II LLC (DE)                   

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5.    CC Holdco Manager (DE)                                        

6.    Alternative Fuel I, LLC (DE)                                  

7.    Transmountain Land & Livestock Company (MT)                   

8.    MetPark Funding, Inc. (DE)                                    

9.    HPZ Assets LLC (DE)                                           

10.   Missouri Reinsurance, Inc. (Cayman Islands)                   

11.   Metropolitan Tower Realty Company, Inc. (DE)                  

a)    Midtown Heights, LLC (DE)                         

12.   MetLife Real Estate Cayman Company (Cayman Islands)           

13.   MetCanada Investments Ltd. (Canada)                           

14.   MetLife Private Equity Holdings, LLC (DE)                     

15.   23rd Street Investments, Inc. (DE)                            

      a)    MetLife Capital Credit L.P. (DE)- 1% General Partnership
             interest is held by 23rd Street Investments, Inc. and 99%
             Limited Partnership interest is held by Metropolitan Life
Insurance Company.                          

   b)    MetLife Capital, Limited Partnership (DE)- 1% General
                 Partnership interest is held by 23rd Street Investments, Inc.
                and 99% Limited Partnership interest is held by Metropolitan
Life Insurance Company.                     

16.   Hyatt Legal Plans, Inc. (DE)                                  

a)    Hyatt Legal Plans of Florida, Inc. (FL)           

17.   MetLife Holdings, Inc. (DE)                                   

a)    MetLife Credit Corp. (DE)                         

b)    MetLife Funding, Inc. (DE)                        

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18.   MetLife Investments Asia Limited (Hong Kong)                  

19.   MetLife Investments Limited (United Kingdom)- 23rd Street     
         Investments, Inc. holds one share of MetLife Investments Limited.

      20.   MetLife Latin America Asesorias e Inversiones Limitada (Chile)- 23rd
     Street Investments, Inc. holds 0.01% of MetLife Latin America
Asesorias e Inversiones Limitada.                       

21.   New England Life Insurance Company (MA)                       

a)    New England Securities Corporation (MA)           

22.   General American Life Insurance Company (MO)                  

a)    GALIC Holdings LLC (DE)                           

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23.   Corporate Real Estate Holdings, LLC (DE)                      

   24.   Ten Park SPC (Cayman Islands) - 1% voting control of Ten Park SPC
is held by 23rd Street Investments, Inc.                

25.   MetLife Tower Resources Group, Inc. (DE)                      

26.   Headland-Pacific Palisades, LLC (CA)                          

27.   Headland Properties Associates (CA) - 1% is owned by          
        Headland-Pacific Palisades, LLC and 99% is owned by Metropolitan
Life Insurance Company.                                 

28.   WFP 1000 Holding Company GP, LLC (DE)                         

29.   White Oak Royalty Company (OK)                                

30.   500 Grant Street GP LLC (DE)                                  

   31.   500 Grant Street Associates Limited Partnership (CT) - 99% of 500
           Grant Street Associates Limited Partnership is held by Metropolitan
 Life Insurance Company and 1% by 500 Grant Street GP LLC.

32.   MetLife Canada/MetVie Canada (Canada)                         

33.   MetLife Retirement Services LLC (NJ)                          

a)   MetLife Investment Funds Services LLC (NJ)         

i)   MetLife Associates LLC (DE)              

34.   Euro CL Investments LLC (DE)                                  

35.   MEX DF Properties, LLC (DE)                                   

   36.   MSV Irvine Property, LLC (DE) - 4% of MSV Irvine Property, LLC is
         owned by Metropolitan Tower Realty Company, Inc. and 96% is owned
by Metropolitan Life Insurance Company                  

37.   MetLife Properties Ventures, LLC (DE)                         

a)   Citypoint Holdings II Limited (United Kingdom)     

38.   Housing Fund Manager, LLC (DE)                                

     a)   MTC Fund I, LLC (DE) 0.01% of MTC Fund I, LLC is held by
               Housing Fund Manager, LLC. - Housing Fund Manager, LLC is the
               managing member LLC and the remaining interests are held by a
third party member.                           

         b)   MTC Fund II, LLC (DE) - 0.01% of MTC Fund II, LLC is held by
               Housing Fund Manager, LLC. - Housing Fund Manager, LLC is the
               managing member LLC and the remaining interests are held by a
third party member.                           

           c)   MTC Fund III, LLC (DE) - 0.01% of MTC Fund III, LLC is held by
               Housing Fund Manager, LLC. - Housing Fund Manager, LLC is the
               managing member LLC and the remaining interests are held by a
third party member.                           

39.   MLIC Asset Holdings LLC (DE)                                  

40.   85 Broad Street Mezzanine LLC (DE)                            

a)   85 Broad Street LLC (DE)                           

41.   The Building at 575 Fifth Avenue Mezzanine LLC (DE)           

a)   The Building at 575 Fifth LLC (DE)                 

   42.   CML Columbia Park Fund I, LLC (DE)- 10% of membership interest is
           held by MetLife Insurance Company of Connecticut and 90% membership
interest is held by Metropolitan Life Insurance Company.

   43.   Para-Met Plaza Associates (FL)- 75% of the General Partnership is
          held by Metropolitan Life Insurance Company and 25% of the General
      Partnership is held by Metropolitan Tower Realty Company, Inc.

44.   MLIC CB Holdings LLC (DE)                                     

45.   Met II Office Mezzanine LLC (FL) - 10.4167% of the membership 
          interest is owned by Metropolitan Tower Life Insurance Company and
 89.5833% is owned by Metropolitan Life Insurance Company.

a)   Met II Office, LLC (FL)                            

46.   The Worthington Series Trust (DE)                             

    47.   MetLife CC Member, LLC (DE) - 63.415% of MetLife CC Member, LLC is
       held by Metropolitan Life Insurance Company, 17.073% by MetLife
     Investors USA Insurance Company, 14.634% by MetLife Insurance
            Company of Connecticut and 4.878% by General American Life Insurance
Company.                                                

48.   Oconee Hotel Company, LLC (DE)                                

49.   Oconee Land Company, LLC (DE)                                 

a)  Oconee Land Development Company, LLC (DE)           

b)  Oconee Golf Company, LLC (DE)                       

c)  Oconee Marina Company, LLC (DE)                     

50.   1201 TAB Manager, LLC (DE)                                    

51.   MetLife 1201 TAB Member, LLC (DE) - 66.67% of MetLife 1201 TAB
           Member, LLC is owned by Metropolitan Life Insurance Company, 18.18%
            is owned by MetLife Investors USA Insurance Company, 12.12% is owned
         by MetLife Insurance Company of Connecticut and 3.03% is owned by
Metropolitan Property and Casualty Insurance Company.   

     52.   MetLife LHH Member, LLC (DE) - 69.23% of MetLife LHH Member, LLC is
        owned by Metropolitan Life Insurance Company, 19.78% is owned by
          MetLife Investors USA Insurance Company and 10.99% is owned by New
England Life Insurance Company.                         

53.   Ashton Southend GP, LLC (DE)                                  

    54.   Tremont Partners, LP (DE) - 99.9% LP interest of Tremont Partners,
      LP is owned by Metropolitan Life Insurance Company and 0.1% GP
interest is owned by Ashton Southend GP, LLC.           

55.   Riverway Residential, LP (DE) - 99.9% LP interest of Riverway 
           Residential, LP is owned by Metropolitan Life Insurance Company and
            0.1% GP interest is owned by Metropolitan Tower Realty Company, Inc.

56.   10420 McKinley Partners, LP (DE) - 99.9% LP interest of 10420 
     McKinley Partners, LP is owned by Metropolitan Life Insurance
          Company and 0.1% GP interest is owned by Metropolitan Tower Realty
Company, Inc.                                           

57.   Ardrey Kell Townhomes, LLC (DE)                               

58.   Boulevard Residential, LLC (DE)                               

59.   465 N. Park Drive, LLC (DE)                                   

Q.    MetLife Capital Trust IV (DE)                                             

R.    MetLife Insurance Company of Connecticut (CT) - 86.72% is owned by        
MetLife, Inc. and 13.28% by MetLife Investors Group, Inc.           

1.    MetLife Property Ventures Canada ULC (Canada)                 

      2.    Pilgrim Alternative Investments Opportunity Fund III Associates, LLC
           (CT) - 67% is owned by MetLife Insurance Company of Connecticut and
33% is owned by third party.                            

3.    Metropolitan Connecticut Properties Ventures, LLC (DE)        

4.    MetLife Canadian Property Ventures LLC (NY)                   

5.    Euro TI Investments LLC (DE)                                  

6.    Greenwich Street Investments, L.L.C. (DE)                     

  a)    Greenwich Street Capital Offshore Fund, Ltd. (Virgin
Islands)                                    

b)    Greenwich Street Investments, L.P. (DE)           

7.    One Financial Place Corporation (DE) - 100% is owned in the   
aggregate by MetLife Insurance Company of Connecticut.  

8.    Plaza LLC (CT)                                                

a)    Tower Square Securities, Inc. (CT)                

9.    TIC European Real Estate LP, LLC (DE)                         

10.   MetLife European Holdings, LLC (DE)                           

a)    MetLife Assurance Limited (United Kingdom)        

11.   Travelers International Investments Ltd. (Cayman Islands)     

12.   Euro TL Investments LLC (DE)                                  

13.   Corrigan TLP LLC (DE)                                         

14.   TLA Holdings LLC (DE)                                         

a)    The Prospect Company (DE)                         

     15.   TRAL & Co. (CT) - TRAL & Co. is a general partnership. Its partners
          are MetLife Insurance Company of Connecticut and Metropolitan Life
Insurance Company.                                      

16.   MetLife Investors USA Insurance Company (DE)                  

a)    MetLife Renewables Holding, LLC (DE)              

i)    Greater Sandhill I, LLC (DE)          

17.   TLA Holdings II LLC (DE)                                      

18.   TLA Holdings III LLC (DE)                                     

 19.   MetLife Greenstone Southeast Venture, LLC (DE) - 95% of MetLife
       Greenstone Southeast Venture, LLC is owned by MetLife Insurance
          Company of Connecticut and 5% is owned by Metropolitan Connecticut
Properties Ventures, LLC.                               

a)    MLGP Lakeside, LLC (DE)                           

S.    MetLife Reinsurance Company of South Carolina (SC)                        

T.    MetLife Investment Management, LLC (DE)                                   

U.    MetLife Standby I, LLC (DE)                                               

1.   MetLife Exchange Trust I (DE)                                  

V.    MetLife Services and Solutions, LLC (DE)                                  

1.   MetLife Solutions Pte. Ltd. (Singapore)                        

a)    MetLife Services East Private Limited (India)       

    b)    MetLife Global Operations Support Center Private Limited
                 (India) - 99.99999% is owned by MetLife Solutions Pte. Ltd. and
  0.00001% is owned by Natiloportem Holdings, Inc.

W.    SafeGuard Health Enterprises, Inc. (DE)                                   

1.   MetLife Health Plans, Inc. (DE)                                

2.   SafeGuard Health Plans, Inc. (CA)                              

3.   SafeHealth Life Insurance Company (CA)                         

4.   SafeGuard Health Plans, Inc. (FL)                              

5.   SafeGuard Health Plans, Inc. (NV)                              

6.   SafeGuard Health Plans, Inc. (TX)                              

X.    MetLife Capital Trust X (DE)                                              

Y.    Cova Life Management Company (DE)                                         

Z.    MetLife Reinsurance Company of Charleston (SC)                            

AA.   MetLife Reinsurance Company of Vermont (VT)                               

AB.   Delaware American Life Insurance Company (DE)                             

1.    GBN, LLC (DE)                                                 

AC.   Federal Flood Certification LLC (TX)                                      

AD.   American Life Insurance Company (ALICO) (DE)                              

1.    MetLife ALICO Life Insurance K.K. (Japan)                     

a)  Nagasaki Operation Yugen Kaisha (Japan)       

b)  Communication One Kabushiki Kaisha (Japan)    

c)  Financial Learning Kabushiki Kaisha (Japan)   

2.    MetLife Global Holding Company I GmbH (Swiss I) (Switzerland) 

   a)  MetLife Global Holding Company II GmbH (Swiss II)
(Switzerland)                             

                   1)  MetLife EU Holding Company Limited (Ireland) - 18.234% of
                      MetLife EU Holding Company Limited is owned by ALICO and
                       the remaining interest is owned by MetLife Global Holding
Company II GmbH.                  

  aa) MetLife Europe Limited (Ireland)

                           ii. MetLife Pension Trustees Limited (United Kingdom)

bb) Agenvita S.r.l. (Italy)       

            cc) MetLife Europe Insurance Limited (Ireland)

           dd) MetLife Europe Services Limited (Ireland)

            ee) MetLife Insurance Limited (United Kingdom)

  ff) MetLife Limited (United Kingdom)

             gg) MetLife Services, Sociedad Limitada (Spain)

                    hh) MetLife Insurance S.A./NV (Belgium) - 99.99999% of
                      MetLife Insurance S.A./NV is owned by MetLife EU
                      Holding Company Limited and 0.00001% is owned by
Natilportem Holdings, Inc.

2)  MetLife S.A. (France)                 

                      aa) Hestis S.A.(France) - 66.06% of Hestis S.A. is owned
                       by ALICO and the remaining interests are owned by
third parties.            

   bb) MetLife Solutions S.A.S. (France)

3.    Pharaonic American Life Insurance Company (Egypt) - 84.125% of
           Pharaonic American Life Insurance Company is owned by ALICO and the
remaining interests are owned by third parties.         

4.    MetLife Holdings (Cyprus) Limited (Cyprus)                    

5.    ALICO Limited (Nigeria)                                       

6.    American Life Limited (Nigeria)                               

     7.    American Life Insurance Company (Pakistan) Ltd. (Pakistan) - 81.96%
            of American Life Insurance Company (Pakistan) Ltd. is owned by ALICO
and the remaining interests are owned by third parties. 

8.    MetLife Emeklilik ve Hayat A.S. (Turkey) - 99.972% of MetLife 
   Emeklilik ve Hayat A.S. is owned by ALICO and the remaining
interests are owned by third parties.                   

9.    ALICO Zhivotozastrahovat elno Druzestvo EAD (Bulgaria)        

10.   Amcico pojist'ovna a.s. (Czech Republic)                      

(a)   Metlife pojist'ovna a.s. (Czech Republic)         

11.   American Life Insurance Company (Cyprus) Limited (Cyprus)     

12.   MetLife Alico Life Insurance Company S.A. (Greece)            

          a)    ALICO Mutual Fund Management Company (Greece) - 90% of ALICO
                 Mutual Fund Management Company is owned by MetLife Alico Life
               Insurance Company S.A. (Greece) and the remaining interests
are owned by third parties.                 

13.   AHICO First American Hungarian Insurance Company (Elso        
Amerikai-Magyar Biztosito) Zrt. (Hungary)               

         a)    First Hungarian-American Insurance Agency Limited (Hungary)

b)    Metlife Biztosito Zrt. (Hungary)                  

 14.   AMPLICO Life-First American Polish Life Insurance & Reinsurance
Company, S.A. (Poland)                                  

a)    Amplico Services Sp z.o.o. (Poland)               

          b)    AMPLICO Towartzystwo Funduszky Inwestycyjnych, S.A. (Poland)

            c)    AMPLICO Powszechne Towartzystwo Emerytalne S.A. (Poland) - 50%
                 of AMPLICO Powszechne Towarzystwo Emerytalne S.A. is owned by
       AMPLICO Life-First American Polish Life Insurance &
               Reinsurance Company, S.A. and the remaining 50% is owned by
ALICO.                                      

   15.   ALICO Asigurari Romania S.A. (Romania) - 99.99999726375% of ALICO
          Asigurari Romania S.A. is owned by American Life Insurance Company
   and the remaining 0.000001273625% is owned by International
Technical and Advisory Services Limited.                

   a)    ALICO Societate de Administrare a unui Fond de Pensii
         Administrat Privat S.A. (Romania) - 99.9748% of ALICO
               Societate de Administrare a unui Fond de Pensii Administrat
            Privat S.A. is owned by ALICO Asigurari Romania S.A. and
  0.0252% is owned by AMPLICO Services Sp z.o.o.

   b)    Metropolitan Training and Consulting S.R.L. (Romania)

      c)    Metropolitan Life Asigurari S.A. (Romania) - 99.9999% of
                Metropolitan Life Asigurari S.A. is owned by ALICO Asigurari
                Romania S.A. and 0.0001% is owned by International Technical
and Advisory Services Limited.              

16.   International Investment Holding Company Limited (Russia)     

17.   ALICO European Holdings Limited (Ireland)                     

a)    ZAO Master D (Russia)                             

                 i)    ZAO ALICO Insurance Company (Russia) - 51% of ZAO ALICO
                     Insurance Company is owned by ZAO Master D and 49% is
owned by ALICO.                 

18.   MetLife Akcionarska Drustvoza za Zivotno Osiguranje (Serbia)  
          - 99.96% of MetLife Akcionarska Drustvoza za Zivotno Osiguranje is
        owned by ALICO and the remaining 0.04% is owned by International
Technical and Advisory Services Limited.                

19.   MetLife AMSLICO poist'ovna a.s. (Slovakia)                    

a)    ALICO Services Central Europe s.r.o. (Slovakia)   

      b)    ALICO Funds Central Europe sprav. spol., a.s. (Slovakia)

20.   ALICO Gestora de Fondos y Planos de Pensiones S.A. (Spain)    

21.   ALICO Management Services Limited (United Kingdom)            

22.   ZEUS Administration Services Limited (United Kingdom)         

   23.   ALICO Trustees Ltd. (United Kingdom) - 50% of ALICO Trustees (UK)
     Ltd. is owned by ALICO and the remaining interest is owned by
International Technical and Advisory Services Limited.  

  24.   PJSC ALICO Ukraine (Ukraine) - 99.9990% of PJSC ALICO Ukraine is
      owned by ALICO 0.0005% is owned by International Technical and
       Advisory Services Limited and the remaining 0.0005% is owned by
Borderland Investment Limited.                          

25.   Borderland Investment Limited (USA-Delaware)                  

           a)    ALICO Hellas Single Member Limited Liability Company (Greece)

      26.   International Technical and Advisory Services Limited (USA-Delaware)

27.   ALICO Operations Inc. (USA-Delaware)                          

a)    ALICO Asset Management Corp. (Japan)              

      28.   ALICO Compania de Seguros de Retiro, S.A. (Argentina) - 90% of ALICO
     Compania de Seguros de Retiro, S.A. is owned by ALICO and the
          remaining interest by International Technical & Advisory Services.

     29.   ALICO Compania de Seguros, S.A. (Argentina) - 90% of ALICO Compania
        de Seguros, S.A. is owned by ALICO and the remaining interest by
International Technical & Advisory Services.            

  30.   MetLife Colombia Seguros de Vida S.A. (Colombia) - 94.989997% of
      MetLife Colombia Seguros de Vida S.A. is owned by ALICO, 5.01%
         is owned by International Technical and Advisory Services Limited
and the remaining interests are owned by third parties. 

   31.   ALICO Mexico Compania de Seguros de Vida, S.A. de C.V. (Mexico) -
           99.999998% of ALICO Mexico Compania de Seguros de Vida, SA de CV is
            owned by ALICO and 0.000002% is owned by International Technical and
Advisory Services Limited.                              

32.   MetLife Seguros de Vida, S.A. (Uruguay)                       

  33.   ALICO Properties, Inc. (USA-Delaware) - 51% of ALICO Properties,
       Inc. is owned by ALICO and the remaining interests are owned by
third parties.                                          

a)    Global Properties, Inc. (USA-Delaware)            

34.   Alpha Properties, Inc. (USA-Delaware)                         

35.   Beta Properties, Inc. (USA-Delaware)                          

36.   Delta Properties Japan, Inc. (USA-Delaware)                   

37.   Epsilon Properties Japan, Inc. (USA-Delaware)                 

38.   Iris Properties, Inc. (USA-Delaware)                          

39.   Kappa Properties Japan, Inc. (USA-Delaware)                   

1) The voting securities (excluding directors' qualifying shares, if any) of    
each subsidiary shown on the organizational chart are 100% owned by their       
respective parent corporation, unless otherwise indicated.                      

2) The Metropolitan Money Market Pool and MetLife Intermediate Income Pool are  
pass-through investment pools, of which Metropolitan Life Insurance Company     
and/or its subsidiaries and/or affiliates are general partners.                 

3) The MetLife, Inc. organizational chart does not include real estate joint    
ventures and partnerships of which MetLife, Inc. and/or its subsidiaries is an  
investment partner. In addition, certain inactive subsidiaries have also been   
omitted.                                                                        

4) MetLife Services EEIG is a cost-sharing mechanism used in the EU for EU-     
affiliated members.                                                             

 6

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ITEM 29. INDEMNIFICATION                                                        

MetLife, Inc. has secured a Financial Institutions Bond in the amount of        
$50,000,000 subject to a $5,000,000 deductible. MetLife also maintains          
Directors' and Officers' Liability insurance coverage with limits of $400       
million. The Directors and Officers of Metropolitan Life Insurance Company      
("Metropolitan"), as well as certain other subsidiaries of MetLife, Inc., are   
covered under the Financial Institutions Bond as well as under the Directors'   
and Officers' Liability Policy. A provision in Metropolitan's by-laws provides  
for the indemnification (under certain circumstances) of individuals serving as 
directors or officers of Metropolitan.                                          

Insofar as indemnification for liability arising under the Securities Act of    
1933 may be permitted to directors, officers and controlling persons of         
Metropolitan pursuant to the foregoing provisions, or otherwise, Metropolitan   
Life Insurance Company has been advised that in the opinion of the Securities   
and Exchange Commission such indemnification is against public policy as        
expressed in the Act and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than the payment by         
Metropolitan of expenses incurred or paid by a director, officer or controlling 
person or Metropolitan Life Insurance Company in the successful defense of any  
action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, Metropolitan will,   
unless in the opinion of its counsel the matter has been settled by controlling 
precedent, submit to a court of appropriate jurisdiction the question whether   
such indemnification by it is against public policy as expressed in the Act and 
will be governed by the final adjudication of such issue.                       

ITEM 30. PRINCIPAL UNDERWRITER                                                  

     (a) MetLife Investors Distribution Company is the principal underwriter and
distributor of the Policies. MetLife Investors Distribution Company is also the 
principal underwriter for the following investment companies (other than the    
Registrant):                                                                    

Met Investors Series Trust, Metropolitan Series Fund, Metropolitan              
Life Separate Account E, MetLife Investors USA Separate Account A, MetLife      
Investors USA Variable Life Account A, MetLife Investors Variable Annuity       
Account One, MetLife Investors Variable Life Account One, First MetLife         
Investors Variable Annuity Account One, General American Separate Account       
Eleven, General American Separate Account Twenty-Eight, General American        
Separate Account Twenty-Nine, General American Separate Account Two, Security   
Equity Separate Account 26, Security Equity Separate Account 27, MetLife of CT  
Separate Account Eleven for Variable Annuities,                                 

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MetLife of CT Separate Account QPN for Variable Annuities, MetLife of CT        
Fund UL for Variable Life Insurance, MetLife of CT Fund UL III for Variable Life
Insurance, Metropolitan Life Variable Annuity Separate Account II, Paragon      
Separate Account A, Paragon Separate Account B, Paragon Separate Account C,     
Paragon Separate Account D, Metropolitan Tower Separate Account One and         
Metropolitan Tower Separate Account Two.                                        

(b) The following persons are the officers and directors of MetLife   
Investors Distribution Company. The principal business address for MetLife      
Investors Distribution Company is 5 Park Plaza, Suite 1900, Irvine, CA 92614.   

                                                        [Enlarge/Download Table]

Name and Principal Business Office            Positions and Offices with Underwriter    
--------------------------------------------  ------------------------------------      
                                                                                        
Mark E. Rosenthal                             President                                 
Metropolitan Life Insurance Company                                                     
5 Park Plaza, Suite 1900                                                                
Irvine, CA 92614                                                                        

Elizabeth M. Forget                           Director and Executive Vice President     
Metropolitan Life Insurance Company                                                     
1095 Avenue of the Americas                                                             
New York, NY 10036                                                                      

Paul A. LaPiana                               Director and Executive Vice President,    
Metropolitan Life Insurance Company           National Sales Manager-Life               
501 Route 22                                                                            
Bridgewater, NJ 08807                                                                   

Jay S. Kaduson                                Senior Vice President                     
Metropolitan Life Insurance Company                                                     
1 MetLife Plaza                                                                         
27-01 Queens Plaza North                                                                
Long Island City, NY 11101                                                              

Andrew G. Aiello                                                                        
Metropolitan Life Insurance Company           Senior Vice President, Channel Head-      
5 Park Plaza, Suite 1900                      National Accounts                         
Irvine, CA 92614                                                                        

John G. Martinez                              Vice President and Chief Financial Officer
Metropolitan Life Insurance Company                                                     
18210 Crane Nest Drive                                                                  
Tampa, FL 33647                                                                         

Marlene B. Debel                              Treasurer                                 
Metropolitan Life Insurance Company                                                     
1095 Avenue of the Americas                                                             
New York, NY 10036                                                                      

(c) Compensation form the Registrant.                                 

(1)                 (2)                (3)            (4)         (5) 
             Compensation on
            Events Occasioning
Net Underwriting  the Deduction of a      
Name of Principal   Discounts and      Deferred Sales    Brokerage    Other     
   Underwriter       Commissions            Load        Commissions Compensation
-----------------  ----------------  -----------------  ----------- ------------
MetLife Investors                                                               
Distribution                                                                
  Company             $5,981,537                   $0             $0          $0

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Commissions are paid by the Company directly to agents who are registered       
representatives of the Principal Underwriter or to broker-dealers that have     
entered into a selling agreement with the principal underwriter with respect to 
sales of the Contracts.                                                         

ITEM 31. LOCATION OF ACCOUNTS AND RECORDS                                       

    The following companies will maintain possession of the documents required
by Section 31(a) of the Investment Company Act of 1940 and the Rules thereunder:

(a)  Registrant                                                       

(b)  Metropolitan Life Insurance Company                              
200 Park Avenue New York, NY 10166                          

(c)  MetLife Investors Distribution Company                           
5 Park Plaza, Suite 1900 Irvine, CA 92614                   

ITEM 32. MANAGEMENT SERVICES                                                    

Not applicable                                                        

ITEM 33. FEE REPRESENTATION                                                     

   Metropolitan Life represents that the fees and charges deducted under the
Policies offered and sold pursuant to this amended Registration Statement, in   
the aggregate, are reasonable in relation to the services rendered, the expenses
to be incurred, and the risks assumed by Metropolitan Life under the Policies.  

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SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the    
Investment Company Act of 1940, the Registrant, Metropolitan Life Separate      
Account UL, certifies that it meets all of the requirements for effectiveness of
this amended Registration Statement under Rule 485(b) under the Securities Act  
of 1933 and has caused this Amendment to the Registration Statement to be signed
on its behalf, in the City of New York, and State of New York, on this 11th day 
of April, 2013.                                                                 

                           Metropolitan Life Separate Account UL

                             By: Metropolitan Life Insurance Company

               By: /s/ Paul G. Cellupica
                                       -----------------------------------------
                             Paul G. Cellupica, Esq.
                              Chief Counsel - Americas

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SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the    
Investment Company Act of 1940, Metropolitan Life Insurance Company certifies   
that it meets all of the requirements for effectiveness of this amended         
Registration Statement under Rule 485(b) under the Securities Act of 1933       
and has caused this Amendment to the Registration Statement to be signed on its 
behalf, in the City of New York, and State of New York, on this 11th day of     
April, 2013.                                                                    

                         Metropolitan Life Insurance Company

                By: /s/  Paul G. Cellupica
                                      ------------------------------------------
                               Paul G. Cellupica, Esq.
                                Chief Counsel - Americas

    Pursuant to the requirements of the Securities Act of 1933, this Amendment
to the Registration Statement has been signed by the following persons, in the  
capacities indicated, on April 11, 2013.                                        

SIGNATURE                                  TITLE    
---------                                  -----    

*                                           
-------------------------------------     Chairman of the Board, President and  
Steven A. Kandarian                    Chief Executive Officer

*                                           
-------------------------------------          Executive Vice President and     
    Peter M. Carlson                        Chief Accounting Officer

*                                           
-------------------------------------                                           
Sylvia Mathews Burwell                          Director        

*                                           
-------------------------------------                                           
Cheryl W. Grise                              Director     

*                                           
-------------------------------------                                           
R. Glenn Hubbard                             Director     

*                                           
-------------------------------------                                           
John M. Keane                               Director    

*                                           
-------------------------------------                                           
Alfred F. Kelly, Jr.                           Director       

*                                           
-------------------------------------                                           
James M. Kilts                              Director    

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*                                       
-------------------------------------                                           
Catherine R. Kinney                           Director      

*                                           
-------------------------------------                                           
Hugh B. Price                               Director    

-------------------------------------                                           
David Satcher                               Director    

*                                           
-------------------------------------                                           
Kenton J. Sicchitano                           Director       

*                                           
-------------------------------------                                           
Lulu C. Wang                               Director   

*                                           
-------------------------------------          Executive Vice President and     
     John C.R. Hele                        Chief Financial Officer

*By: /s/  Marie C. Swift                                                        
---------------------------------                                       
Marie C. Swift, Esq.                                                    
Attorney- in - fact                                                     

*    Executed by Marie C. Swift, Esq. on behalf of those indicated pursuant to  
    Powers of Attorney filed herewith and with Post-Effective Amendment No. 26
to this Registration Statement on Form N-6, File No. 033-47927, filed 
April 12, 2012.                                                       

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 Exhibit Index

(c) (vii) Master Retail Sales Agreement                               

(n)       Consent of Independent Registered Public Accounting Firm    

(r) (ii)  Power of Attorney